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Discontinued Operations | 3 Months Ended
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Aug. 28, 2022
Discontinued Operations and Disposal Groups [Abstract] |
Discontinued Operations | Discontinued Operations As discussed in Note 1 – Organization, Basis of Presentation, and Summary of Significant Accounting Policies – Eat Smart Sale and Discontinued Operations, on December 13, 2021, we completed the Eat Smart Disposition. Eat Smart represented a component of the business within the Curation Foods segment and its sale represents a strategic shift in the Company going forward. Accordingly, concurrent with the execution of the Asset Purchase Agreement, Eat Smart meets the accounting requirements for reporting as discontinued operations for all periods presented. The key components of income from discontinued operations for the three months ended August 28, 2022 and August 29, 2021 were as follows (in thousands):
|  |  | Three Months Ended |  |
|  |  | August 29, 2021 |  |  |  |
Product sales |  |  | $ | 87,156 |  |  |  |  |
Cost of product sales |  |  | 80,072 |  |  |  |  |
Gross profit |  |  | 7,084 |  |  |  |  |
Operating costs and expenses: |  |  |  |  |  |  |
Research and development |  |  | 953 |  |  |  |  |
Selling, general and administrative |  |  | 6,469 |  |  |  |  |
Restructuring costs |  |  | 728 |  |  |  |  |
Total operating costs and expenses |  |  | 8,150 |  |  |  |  |
Operating loss |  |  | (1,066) |  |  |  |  |
Dividend income |  |  | — |  |  |  |  |
Interest expense |  |  | (1,239) |  |  |  |  |
Loss from discontinued operations before taxes |  |  | (2,305) |  |  |  |  |
Income tax benefit |  |  | 461 |  |  |  |  |
Loss from discontinued operations, net of tax |  |  | $ | (1,844) |  |  |  |  |
Cash used in operating activities by the Eat Smart business totaled $0.0 million and $0.2 million for the three months ended August 28, 2022 and August 29, 2021, respectively. Cash provided by investing activities from the Eat Smart business totaled $0.0 million and $45.1 million for the three months ended August 28, 2022 and August 29, 2021, respectively. Depreciation and amortization expense of the Eat Smart business totaled $0.0 million and $2.3 million for the three months ended August 28, 2022 and August 29, 2021, respectively. Capital expenditures of the Eat Smart business totaled $0.0 million and $1.1 million for the three months ended August 28, 2022 and August 29, 2021, respectively. Interest expense was allocated to discontinued operations based on the interest expense related to the amount of debt required to be paid down under the New Credit Agreements as a result of the Eat Smart Disposition. There were no assets or liabilities of Eat Smart as of August 28, 2022 or May 29, 2022.

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- Definition The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI https://asc.fasb.org/topic&trid=2155823 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -URI https://asc.fasb.org/subtopic&trid=2122178 + Details
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