13.

Discontinued Operations

During the

fourth

quarter of fiscal year

2018,

the Company discontinued its Food Export business. As a result, the Company met the requirements of ASC

205

20¸

to report the results of the Food Export segment as a discontinued operation and to classify the Food Export Segment as a group of assets and liabilities held for abandonment. The operating results for the Food Export business have therefore been reclassified as a discontinued operation.

The carrying amounts of the major classes of assets and liabilities of the Food Export business segment included in assets and liabilities of discontinued operations are as follows (in thousands):

	Year Ended
	May 27, 2018			May 28, 2017
Current and other assets, discontinued operations:
Cash and cash equivalents	$	(8	)	$	(589	)
Accounts receivable		518			1,184
Inventory		—			1,670
Other assets		—			269
Total assets, discontinued operations	$	510		$	2,534

Other current liabilities, discontinued operations:
Accounts payable	$	230		$	1,341
Accrued expenses and other current liabilities		228			785
Total other current liabilities, discontinued operations	$	458		$	2,126

Once the Food Export business was discontinued, the operations associated with this business qualified for reporting as discontinued operations. Accordingly, the operating results, net of tax, from discontinued operations are presented separately in the Company’s consolidated statements of income (loss) and the notes to the consolidated financial statements have been adjusted to exclude the Food Export business segment. Components of amounts reflected in (loss) income from discontinued operations, net of tax are as follows (in thousands):

	Year Ended
	May 27, 2018			May 28, 2017			May 29, 2016
Revenues	$	29,222		$	62,481		$	64,181
Cost of sales		(27,619	)		(58,507	)		(60,005	)
Selling, general and administrative		(2,522	)		(3,137	)		(3,334	)
Other		(269	)		—			—
(Loss) income from discontinued operations before taxes		(1,188	)		837			842
Income tax benefit (expense)		350			(295	)		(300	)
(Loss) income from discontinued operations, net of tax	$	(838	)	$	542		$	542

Cash provided by (used in) operating activities by the Food Export business totaled

$580,000,

515,000

), and

$11,000

for the fiscal years ended

May 27, 2018,

May 28, 2017,

and

May 29, 2016,

respectively.