Discontinued Operations

6 Months Ended

Nov. 24, 2019

Discontinued Operations and Disposal Groups [Abstract]

During the fourth quarter of fiscal year 2019, the Company discontinued its Now Planting soups. As a result, the Company met the requirements of ASC 205-20¸ to report the results of the Now Planting business as a discontinued operation. The operating results for the Now Planting business have therefore been reclassified as a discontinued operation in fiscal year 2019.

The carrying amounts of the major classes of liabilities of the Now Planting business included in liabilities of discontinued operations are as follows:



(In thousands)	November 24, 2019		May 26, 2019
Other current liabilities, discontinued operations:
Accounts payable	$	—	$	51
Accrued expenses and other current liabilities	—		14
Total other current liabilities, discontinued operations	$	—	$	65

After the Now Planting 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 Comprehensive Loss and the notes to the consolidated financial statements have been adjusted to exclude the Now Planting business for the three and six months ended November 25, 2018. Components of amounts reflected in loss from discontinued operations, net of tax are as follows:



	Three Months Ended					Six Months Ended
(In thousands)	November 24, 2019		November 25, 2018			November 24, 2019		November 25, 2018
Revenues	$	—	$	355		$	—	$	355
Cost of sales	—		(647		)	—		(647		)
Research and development	—		(58		)	—		(100		)
Selling, general and administrative	—		(266		)	—		(414		)
Loss from discontinued operations, before taxes	—		(616		)	—		(806		)
Income tax benefit	—		145			—		190
Loss from discontinued operations, net of tax	$	—	$	(471	)	$	—	$	(616	)