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Goodwill and Intangible Assets (Tables) | 12 Months Ended
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May 29, 2022
Goodwill and Intangible Assets Disclosure [Abstract] |
Changes of Goodwill | The following table presents the changes in goodwill during fiscal 2022 and fiscal 2021 (in thousands):
| 2022 |  | 2021
Balance at beginning of year | $ | 33,916 |  |  | $ | 33,916 |
Impairment | (20,035) |  |  | — |
Balance at end of year | $ | 13,881 |  |  | $ | 33,916 |
Schedule of Finite-Lived Intangible Assets | As restated, the following table presents the changes in intangible assets during fiscal 2022 and fiscal 2021 (in thousands):
| 2022 |  | 2021
| As restated |  |
Balance at beginning of year | $ | 25,632 |  |  | $ | 27,040 |
Amortization of long-lived intangible assets | (1,382) |  |  | (1,408) |
Impairment | (14,150) |  |  | — |
Balance at end of year | $ | 10,100 |  |  | $ | 25,632 |
As of May 29, 2022 and May 30, 2021, the Company's intangible assets consisted of the following (in thousands):
|  |  | May 29, 2022 |  | May 30, 2021
| Amortization Period (years) |  | Gross Carrying Amount |  | Accumulated Amortization |  | Gross Carrying Amount |  | Accumulated Amortization
|  |  | As restated |  | As restated |  |  |  |
Customer relationships |  |  |  |  |  |  |  |  |
Lifecore | 12 |  | $ | 3,700 |  |  | $ | 3,700 |  |  | $ | 3,700 |  |  | $ | 3,418 |
Yucatan Foods (Curation Foods) | 12 |  | 1,400 |  |  | — |  |  | 11,000 |  |  | 2,750 |
Total customer relationships |  |  | $ | 5,100 |  |  | $ | 3,700 |  |  | $ | 14,700 |  |  | $ | 6,168 |
Trademarks/tradenames |  |  |  |  |  |  |  |  |
Lifecore |  |  | $ | 4,200 |  |  | $ | — |  |  | $ | 4,200 |  |  | $ | — |
O (Curation Foods) |  |  | 500 |  |  | — |  |  | 500 |  |  | — |
Yucatan Foods (Curation Foods) |  |  | 4,000 |  |  | — |  |  | 12,400 |  |  | — |
Total trademarks/tradenames |  |  | $ | 8,700 |  |  | $ | — |  |  | $ | 17,100 |  |  | $ | — |
Total intangible assets |  |  | $ | 13,800 |  |  | 3,700 |  |  | $ | 31,800 |  |  | $ | 6,168 |
Schedule of Indefinite-Lived Intangible Assets | As of May 29, 2022 and May 30, 2021, the Company's intangible assets consisted of the following (in thousands):
|  |  | May 29, 2022 |  | May 30, 2021
| Amortization Period (years) |  | Gross Carrying Amount |  | Accumulated Amortization |  | Gross Carrying Amount |  | Accumulated Amortization
|  |  | As restated |  | As restated |  |  |  |
Customer relationships |  |  |  |  |  |  |  |  |
Lifecore | 12 |  | $ | 3,700 |  |  | $ | 3,700 |  |  | $ | 3,700 |  |  | $ | 3,418 |
Yucatan Foods (Curation Foods) | 12 |  | 1,400 |  |  | — |  |  | 11,000 |  |  | 2,750 |
Total customer relationships |  |  | $ | 5,100 |  |  | $ | 3,700 |  |  | $ | 14,700 |  |  | $ | 6,168 |
Trademarks/tradenames |  |  |  |  |  |  |  |  |
Lifecore |  |  | $ | 4,200 |  |  | $ | — |  |  | $ | 4,200 |  |  | $ | — |
O (Curation Foods) |  |  | 500 |  |  | — |  |  | 500 |  |  | — |
Yucatan Foods (Curation Foods) |  |  | 4,000 |  |  | — |  |  | 12,400 |  |  | — |
Total trademarks/tradenames |  |  | $ | 8,700 |  |  | $ | — |  |  | $ | 17,100 |  |  | $ | — |
Total intangible assets |  |  | $ | 13,800 |  |  | 3,700 |  |  | $ | 31,800 |  |  | $ | 6,168 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense | The amortization expense for each year presented are as follows (in thousands):
| As restated |
Fiscal year 2023 | $ | 215 |  |
Fiscal year 2024 | 215 |  |
Fiscal year 2025 | 215 |  |
Fiscal year 2026 | 215 |  |
Fiscal year 2027 | 215 |  |
Total | $ | 1,075 |  |

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