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Business Segment Reporting (Tables)

9 Months Ended

Feb. 27, 2022

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, excluding discontinued operations:

			Three Months Ended												Nine Months Ended
(In millions)			February 27, 2022						February 28, 2021						February 27, 2022						February 28, 2021
Switzerland			$	8.2					$	1.6					$	13.6					$	2.4
Canada			3.0						2.7						9.5						8.3
Belgium			—						6.0						—						12.6
All Other Countries			3.7						3.9						3.2						3.2

Schedule of Segment Reporting Information, by Segment

Operations by business segment consisted of the following:

(In thousands)			Lifecore						Curation Foods						Other						Total
Three Months Ended February 27, 2022
Net sales			$	34,808					$	18,266					$	—					$	53,074
Gross profit			12,905						990						—						13,895
Net (loss) income from continuing operations			5,054						(5,848)						(6,312)						(7,106)
Loss from discontinued operations, net of tax			—						(2,703)						(3,041)						(5,744)
Depreciation and amortization			1,674						1,142						18						2,834
Interest income			18						—						2						20
Interest expense			—						26						4,079						4,105
Income tax (benefit) expense			1,596						(1,867)						(5)						(276)
Corporate overhead allocation			1,175						289						(1,464)						—
Nine Months Ended February 27, 2022
Net sales			$	81,707					$	56,451					$	—					$	138,158
Gross profit			30,384						8,661						—						39,045
Net (loss) income from continuing operations			11,317						5,513						(27,340)						(10,510)
Loss from discontinued operations, net of tax			—						(47,217)						(3,041)						(50,258)
Depreciation and amortization			4,894						3,095						70						8,059
Interest income			56						—						10						66
Interest expense			—						301						13,576						13,877
Income tax (benefit) expense			3,574						(12,843)						4,257						(5,012)
Corporate overhead allocation			3,389						778						(4,167)						—
Three Months Ended February 28, 2021
Net sales			$	27,225					$	17,465					$	—					$	44,690
Gross profit			11,561						2,880						—						14,441
Net (loss) income from continuing operations			5,104						(394)						(6,175)						(1,465)
Loss from discontinued operations, net of tax			—						(4,033)						—						(4,033)
Depreciation and amortization			1,385						830						22						2,237
Interest income			—						—						13						13
Interest expense			—						136						2,803						2,939
Income tax (benefit) expense			1,612						(1,614)						(56)						(58)
Corporate overhead allocation			1,102						87						(1,189)						—
Nine Months Ended February 28, 2021
Net sales			$	72,248					$	54,381					$	—					$	126,629
Gross profit			27,036						8,854						—						35,890
Net (loss) income from continuing operations			9,708						(1,346)						(17,151)						(8,789)
Loss from discontinued operations, net of tax			—						(21,010)						—						(21,010)
Depreciation and amortization			4,055						2,451						76						6,582
Interest income			—						—						31						31
Interest expense			—						410						6,199						6,609
Income tax (benefit) expense			3,066						(2,095)						(1,996)						(1,025)
Corporate overhead allocation			3,668						621						(4,289)						—

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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-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
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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.

+ References

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