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Goodwill and Intangible Assets | 3 Months Ended
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Sep. 25, 2025
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | Note 5 – Goodwill and Intangible Assets Identifiable intangible assets that are subject to amortization consist of the following:
|  | September 25, 2025 |  |  | June 26, 2025 |  |  | September 26, 2024 |
Customer relationships |  | $ | 21,350 |  |  | $ | 21,350 |  |  | $ | 21,350 |
Brand names |  |  | 17,070 |  |  |  | 17,070 |  |  |  | 17,070 |
Product formulas |  |  | 850 |  |  |  | 850 |  |  |  | 850 |
Non-compete agreement |  |  | 300 |  |  |  | 300 |  |  |  | 300 |
|  |  | 39,570 |  |  |  | 39,570 |  |  |  | 39,570 |
Less accumulated amortization: |  |  |  |  |  |  |  |  |
Customer relationships |  |  | (21,265 | ) |  |  | (21,179 | ) |  |  | (20,842 | )
Brand names |  |  | (13,569 | ) |  |  | (13,388 | ) |  |  | (12,845 | )
Product formulas |  |  | (323 | ) |  |  | (283 | ) |  |  | (162 | )
Non-compete agreement |  |  | (297 | ) |  |  | (292 | ) |  |  | (280 | )
|  |  | (35,454 | ) |  |  | (35,142 | ) |  |  | (34,129 | )
Net intangible assets |  | $ | 4,116 |  |  | $ | 4,428 |  |  | $ | 5,441 |
Customer relationships are being amortized on an accelerated basis. The brand names remaining to be amortized consist of the Squirrel Brand, Southern Style Nuts and Just the Cheese brand names. Total amortization expense related to intangible assets, which is classified in “administrative expenses” in the Consolidated Statement of Comprehensive Income, was $312 for the quarter ended September 25, 2025. Amortization expense for the remainder of fiscal 2026 is expected to be approximately $730 and expected amortization expense the next five fiscal years is as follows:
Fiscal Year Ending |  |  |
June 24, 2027 |  | $ | 847 |
June 29, 2028 |  |  | 677 |
June 28, 2029 |  |  | 496 |
June 27, 2030 |  |  | 400 |
June 26, 2031 |  |  | 400 |
Our net goodwill at September 25, 2025 was comprised of $9,650 from the fiscal 2018 Squirrel Brand acquisition and $2,100 from the fiscal 2023 Just the Cheese brand acquisition. The changes in the carrying amount of goodwill since June 27, 2024 are as follows:
Gross goodwill balance at June 27, 2024 |  | $ | 20,516 |
Accumulated impairment losses |  |  | (8,766 | )
Net goodwill balance at June 27, 2024 |  |  | 11,750 |
Goodwill acquired during fiscal 2025 |  |  | — |
Net balance at June 26, 2025 |  |  | 11,750 |
Goodwill acquired during fiscal 2026 |  |  | — |
Net balance at September 25, 2025 |  | $ | 11,750 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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