Discontinued Operations

9 Months Ended

Feb. 23, 2020

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)	February 23, 2020		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 Income and Loss and the notes to the consolidated financial statements have been adjusted to exclude the Now Planting business for the three and nine months ended February 24, 2019. Components of amounts reflected in loss from discontinued operations, net of tax are as follows:


	Three Months Ended						Nine Months Ended
(In thousands)	February 23, 2020		February 24, 2019		February 23, 2020		February 24, 2019
Revenues	$	—	$	133	$	—	$	488
Cost of sales	—		(485)		—		(1,132)
Research and development	—		(2)		—		(102)
Selling, general and administrative	—		(255)		—		(669)
Loss from discontinued operations, before taxes	—		(609)		—		(1,415)
Income tax benefit	—		143		—		333
Loss from discontinued operations, net of tax	$	—	$	(466)	$	—	$	(1,082)