Discontinued Operations

12 Months Ended

May 30, 2021

Discontinued Operations and Disposal Groups [Abstract]

Now Planting

During the fourth quarter of fiscal year 2019, the Company discontinued its Now Planting business, which resided in its Curation Foods segment. As a result, the Company met the requirements to report the results of Now Planting as discontinued operations and to classify any assets and liabilities as held for abandonment.

As of May 30, 2021 and May 31, 2020 there were no assets or liabilities of the Now Planting business segment included in assets and liabilities of discontinued operations.

Once the Now Planting businesses was discontinued, the operations associated with these 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 Operations and the Notes to the Consolidated Financial Statements have been adjusted to exclude Now Planting in fiscal year 2019. Components of amounts reflected in (loss) income from discontinued operations, net of tax are as follows (in thousands):


	Year Ended
	May 30, 2021		May 31, 2020		May 26, 2019
Product sales	$	—	$	—	$	548
Cost of product sales	—		—		(1,649)
Research and development	—		—		(102)
Selling, general and administrative	—		—		(1,035)

Loss from discontinued operations before taxes	—		—		(2,238)
Income tax benefit	—		—		527
Loss from discontinued operations, net of tax	$	—	$	—	$	(1,711)

Cash provided by (used in) operating activities by the Now Planting business totaled $0.0 million, $0.0 million, and $(1.3) million for the fiscal years ended May 30, 2021, May 31, 2020 and May 26, 2019, respectively.