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Business Segment Reporting (Tables)

9 Months Ended

Feb. 23, 2020

Segment Reporting [Abstract]

Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area

The Company’s international sales by geography are based on the billing address of the customer and were as follows:

			Three Months Ended																		Nine Months Ended
(In millions)			February 23, 2020						February 24, 2019						February 23, 2020						February 24, 2019
Canada			$	17.5					$	24.1					$	52.3					$	40.2
Belgium			9.3						9.9						12.4						2.5
Ireland			0.7						1.4						3.2						2.3
All Other Countries			1.8						0.8						5.1						2.0

Schedule of Segment Reporting Information, by Segment

Operations by business segment consisted of the following:

(In thousands)			Curation Foods(1)						Lifecore						Other						Total
Three Months Ended February 23, 2020
Net sales			$	127,482					$	25,446					$	—					$	152,928
Gross profit			9,162						10,885						—						20,047
Net (loss) income from continuing operations			(12,636)						4,910						(3,792)						(11,518)
Depreciation and amortization			3,356						1,272						22						4,650
Dividend income			281						—						—						281
Interest income			—						—						46						46
Interest expense			1,376						—						835						2,211
Income tax (benefit) expense			(4,901)						1,467						(1,876)						(5,310)
Nine Months Ended February 23, 2020
Net sales			$	373,906					$	60,329					$	—					$	434,235
Gross profit			28,874						22,023						—						50,897
Net (loss) income from continuing operations			(23,154)						6,974						(6,862)						(23,042)
Depreciation and amortization			9,704						3,705						69						13,478
Dividend income			843						—						—						843
Interest income			31						—						65						96
Interest expense			4,128						—						2,327						6,455
Income tax (benefit) expense			(7,210)						1,920						(2,550)						(7,840)
Three Months Ended February 24, 2019(2)
Net sales			$	131,852					$	23,702					$	—					$	155,554
Gross profit			9,993						11,576						—						21,569
Net income (loss) from continuing operations			(6,350)						5,835						2,048						1,533
Depreciation and amortization			2,875						1,028						145						4,048
Dividend income			413						—						—						413
Interest income			26						—						8						34
Interest expense			1,164						—						607						1,771
Income tax expense (benefit)			(686)						1,946						(875)						385
Nine Months Ended February 24, 2019(2)
Net sales			$	353,014					$	51,765					$	—					$	404,779
Gross profit			34,570						20,221						—						54,791
Net income (loss) from continuing operations			(4,385)						6,586						(447)						1,754
Depreciation and amortization			7,109						2,982						415						10,506
Dividend income			1,238						—						—						1,238
Interest income			87						—						26						113
Interest expense			2,027						—						1,248						3,275
Income tax expense (benefit)			116						2,196						(1,395)						917

⁽¹⁾During the third quarter of fiscal 2019, the Company started consolidating Yucatan Foods whose results are included in the Company's operating results starting from December 1, 2018. See Note 2 - Acquisition for more details of this transaction.

⁽²⁾The Curation Foods’ segment operating results for the three and nine months ended February 24, 2019 have been restated to reflect the reclassification of the Now Planting brand to discontinued operations.

X

- Definition

Tabular disclosure of the names of foreign countries from which revenue is material and the amount of revenue from external customers attributed to those countries. An entity may also provide subtotals of geographic information about groups of countries.

+ References

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- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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