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Note 5 - Intangible Assets
 12 Months Ended
May 28, 2017
Notes to Financial Statements  
Goodwill and Intangible Assets Disclosure [Text Block]
5
.
Intangible Assets
 
The carrying amount of goodwill as of
May 28, 2017,
May 29, 2016
and
May 31, 2015
was
$35.5
 million for the Packaged Fresh Vegetables segment
,
$13.9
million for the Biomaterials segment,
$269,000
for the Food Export segment, and
$5.2
 million for the Other segment.
 
Other intangible assets consisted of the following (in thousands):
 
   
Trademarks and
Trade names
    
Customer
Relationships
    
Total
  
Balance as of May 25, 2014
   $
48,428
     $
8,720
     $
57,148
  
Amortization expense
    
—
      
(885
)
    
(885
)
Balance as of May 31, 2015
    
48,428
      
7,835
      
56,263
  
Impairment during the period
    
(34,000
)
    
—
      
(34,000
)
Amortization expense
    
—
      
(867
)
    
(867
)
Balance as of May 29, 2016
    
14,428
      
6,968
      
21,396
  
Additions during the period
    
1,600
      
700
      
2,300
  
Amortization expense
    
—
      
(885
)
    
(885
)
Balance as of May 28, 2017
   $
16,028
     $
6,783
     $
22,811
  
 
Accumulated amortization of Trademarks and Trade names
was
$872,000
as of
May 28, 2017
and
May 29, 2016.
Accumulated amortization of Customer Relationships as of
May 28, 2017
and
May 29, 2016
was
$5.1
million and
$4.2
million, respectively. Accumulated impairment loss was
$38.8
million as of
May 28, 2017
and
May 29, 2016.
Lifecore’s Customer Relationships amount of
$3.7
million is being amortized over
12
years
, Apio’s Customer Relationships amount of
$7.5
million is being amortized over
13
years, and O Olive’s Customer Relationships amount of
$700,000
is being amortized over
11
years. The amortization expense for the next
five
fiscal years is estimated to be
$949,000
per year.