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Note 4 - Goodwill and Intangible Assets

12 Months Ended

May 01, 2021

Goodwill and Intangible Assets Disclosure [Text Block]

Note 4. Goodwill and Intangible Assets

We account for goodwill and intangible assets in accordance with ASC 350, Goodwill and Other.

Goodwill

The changes in the carrying amount of goodwill related to each reportable segment for the fiscal year ended May 1, 2021 were as follows:

	Live Events		Commercial		Transportation		International		Total
Balance as of May 2, 2020:	$	2,266	$	3,144	$	38	$	2,295	$	7,743
Foreign currency translation		47		320		46		258		671
Balance as of May 1, 2021:	$	2,313	$	3,464	$	84	$	2,553	$	8,414

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 2021, 2020, and 2019.

Intangible Assets

The following table summarizes intangible assets, net, as of May 1, 2021 and May 2, 2020:

	*May 1, 2021*
	*Weighted Average Life (in years)*		*Gross Carrying Amount*		*Accumulated Amortization*		*Net Carrying Amount*
Registered trademarks	19.4		$	738	$	246	$	492
Software		3.0		6,606		6,412		194
Customer relationships		10.0		2,984		1,588		1,396
Other		1.5		132		131		1
Total amortized intangible assets		6.1	$	10,460	$	8,377	$	2,083

	*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

In the fiscal years 2021, 2020, and 2019, amortization expense was $1,502, $1,498, and $2,157, respectively. Amortization expenses are included primarily in product design and development and selling expense in the consolidated statements of operations. Intangible assets are written off when fully amortized.

As of May 1, 2021, amortization expenses for future periods were estimated to be as follows:

Fiscal years ending	*Amount*
2022	$	512
2023		316
2024		316
2025		316
2026		281
Thereafter		342
Total expected amortization expense	$	2,083