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Goodwill and Intangible Assets | 12 Months Ended
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May 02, 2020
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | Note 7. Goodwill and Intangible Assets We account for goodwill and intangible assets in accordance with ASC 350, Goodwill and Other Intangible Assets. Goodwill The changes in the carrying amount of goodwill related to each reportable segment for the fiscal year ended May 2, 2020 were as follows:
| Live Events |  | Commercial |  | Transportation |  | International |  | Total
Balance as of April 27, 2019: | $ | 2,276 |  |  | $ | 3,218 |  |  | $ | 49 |  |  | $ | 2,346 |  |  | $ | 7,889 |
Foreign currency translation | (10 | ) |  | (74 | ) |  | (11 | ) |  | (51 | ) |  | (146 | )
Balance as of May 2, 2020: | $ | 2,266 |  |  | $ | 3,144 |  |  | $ | 38 |  |  | $ | 2,295 |  |  | $ | 7,743 |
We perform an analysis of goodwill on an annual basis, and test for impairment more frequently if events or changes in circumstances indicate that an asset might be impaired. Our annual analysis is performed during our third quarter of each fiscal year, based on the goodwill amount as of the first business day of our third fiscal quarter. We performed our annual impairment test and concluded no goodwill impairment existed for fiscal years 2020, 2019, and 2018. In conducting our impairment testing, we utilize step 0 which allows us to first assess qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying value. If, based on a review of qualitative factors, it is more likely than not that the fair value of a reporting unit is less than its carrying value we perform a quantitative impairment test by comparing the fair value of a reporting unit with its carrying amount. If the carrying value exceeds the fair value, we measure the amount of impairment loss, if any. In March 2020, we began to see impacts from the COVID-19 pandemic that could have a negative impact on our forecasted revenue and profitability. This, along with the decline in our stock price and other market conditions, led us to perform an interim qualitative goodwill impairment analysis. After evaluating our results, events and circumstances, we determined that a quantitative or step 1 analysis was necessary for our International business unit. The results of that analysis indicated no goodwill impairment was necessary. Intangible Assets The following table summarizes intangible assets, net, as of May 2, 2020 and April 27, 2019:
| May 2, 2020
| Weighted Average Life (in years) |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount
Registered trademarks | 19.4 |  | $ | 663 |  |  | $ | 183 |  |  | $ | 480 |
Software | 3.0 |  | 6,247 |  |  | 4,890 |  |  | 1,357 |
Customer relationships | 10.0 |  | 2,641 |  |  | 1,135 |  |  | 1,506 |
Other | 1.5 |  | 120 |  |  | 109 |  |  | 11 |
Total amortized intangible assets | 6.0 |  | $ | 9,671 |  |  | $ | 6,317 |  |  | $ | 3,354 |
| April 27, 2019
| Weighted Average Life (in years) |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount
Registered trademarks | 19.5 |  | $ | 679 |  |  | $ | 148 |  |  | $ | 531 |
Software | 3.0 |  | 6,330 |  |  | 3,807 |  |  | 2,523 |
Customer relationships | 10.0 |  | 2,720 |  |  | 888 |  |  | 1,832 |
Other | 1.4 |  | 123 |  |  | 103 |  |  | 20 |
Total amortized intangible assets | 6.0 |  | $ | 9,852 |  |  | $ | 4,946 |  |  | $ | 4,906 |
In the fiscal years 2020, 2019, and 2018, amortization expense was $1,498, $2,157, and $1,330, respectively. Amortization expenses are included primarily in product design and development and selling expense in the consolidated statements of operations. As of May 2, 2020, amortization expenses for future periods were estimated to be as follows:
Fiscal years ending |  | Amount
2021 |  | $ | 1,483 |
2022 |  | 476 |
2023 |  | 280 |
2024 |  | 280 |
2025 |  | 280 |
Thereafter |  | 555 |
Total expected amortization expense |  | $ | 3,354 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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