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Goodwill And Other Intangible Assets | 12 Months Ended
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Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill And Other Intangible Assets | Goodwill and Other Intangible Assets Goodwill attributable to the Retail and Foodservice segments was $157.4 million and $51.0 million, respectively, at June 30, 2023 and 2022.
The following table summarizes our identifiable other intangible assets at June 30:
| 2023 |  | 2022
Tradenames (20 to 30-year life) |  |  |
Gross carrying value | $ | 4,100 |  |  | $ | 37,100 |
Accumulated amortization | (181) |  |  | (8,385) |
Net carrying value | $ | 3,919 |  |  | $ | 28,715 |
Customer Relationships (10 to 15-year life) |  |  |
Gross carrying value | $ | 287 |  |  | $ | 14,207 |
Accumulated amortization | (190) |  |  | (12,727) |
Net carrying value | $ | 97 |  |  | $ | 1,480 |
Technology / Know-how (10-year life) |  |  |
Gross carrying value | $ | 2,450 |  |  | $ | 6,350 |
Accumulated amortization | (1,626) |  |  | (4,222) |
Net carrying value | $ | 824 |  |  | $ | 2,128 |
Total net carrying value | $ | 4,840 |  |  | $ | 32,323 |
In 2023, we recorded impairment charges of $25.0 million related to the intangible assets of Flatout, Inc. (“Flatout”) due to our lowered expectations for the projected sales and profitability of the Flatout business. The tradename, customer relationships and technology / know-how intangible assets were written down to their fair values. These impairment charges were reflected in Restructuring and Impairment Charges and were recorded in our Retail segment. In 2022, we recorded impairment charges of $13.2 million to write off the net carrying value of Bantam’s tradename, customer relationships and technology / know-how intangible assets. These impairment charges were reflected in Restructuring and Impairment Charges. We recorded $0.9 million in our Retail segment related to lower projected cash flows for Bantam’s Retail business. The remaining $12.3 million, which resulted from our decision to explore strategic alternatives for this business, was not allocated to our two reportable segments due to its unusual nature. In 2022, we also recorded an impairment charge of $8.8 million related to the tradename intangible asset of Angelic Bakehouse, Inc. (“Angelic”), which reflected the impact of lower projected sales for Angelic’s branded Retail business. This impairment charge was reflected in Restructuring and Impairment Charges and was recorded in our Retail segment. The impairment charges discussed above represent the excess of the carrying value over the fair value of estimated discounted cash flows specific to the remaining useful lives of the related intangible assets. As the fair value measurements were based on significant inputs not observable in the market, they represented Level 3 measurements within the fair value hierarchy. Amortization expense for our other intangible assets, which is reflected in Selling, General and Administrative Expenses, was as follows in each of the years ended June 30:
| 2023 |  | 2022 |  | 2021
Amortization expense | $ | 2,514 |  |  | $ | 4,437 |  |  | $ | 5,255 |
Total annual amortization expense for each of the next five years is estimated to be as follows:
2024 | $ | 527 |
2025 | $ | 527 |
2026 | $ | 527 |
2027 | $ | 343 |
2028 | $ | 251 |

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