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Discontinued Operations (Tables) | 9 Months Ended
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Feb. 26, 2023
Discontinued Operations and Disposal Groups [Abstract] |
Disposal Groups, Including Discontinued Operations | The assets and liabilities of Yucatan as of May 29, 2022 were as follows (in thousands):
|  | May 29, 2022
ASSETS |  |
Cash and cash equivalents |  | $ | 652 |
Accounts receivable, less allowance for credit losses |  | 8,078 |
Inventories |  | 22,545 |
Prepaid expenses and other current assets |  | 1,869 |
Total current assets, discontinued operations |  | 33,144 |
Property and equipment, net |  | 3,500 |
Operating lease right-of-use assets |  | 2,061 |
Trademarks/tradenames, net |  | 4,000 |
Customer relationships, net |  | 1,400 |
Other assets |  | 102 |
Total other non-current assets, discontinued operations |  | 11,063 |
Total assets, discontinued operations |  | $ | 44,207 |
LIABILITIES |  |
Accounts payable |  | $ | 2,814 |
Accrued compensation |  | 297 |
Other accrued liabilities |  | 800 |
Current portion of lease liabilities |  | 434 |
Total current liabilities, discontinued operations |  | 4,345 |
Long-term lease liabilities |  | 1,627 |
Non-current liabilities, discontinued operations |  | 1,627 |
Total liabilities, discontinued operations |  | $ | 5,972 |
The key components of income from discontinued operations for the three and nine months ended February 26, 2023 and February 27, 2022 were as follows (in thousands):
|  | Three Months Ended |  | Nine Months Ended
|  | February 26, 2023 |  | February 27, 2022 |  | February 26, 2023 |  | February 27, 2022
Product sales |  | $ | 10,811 |  |  | $ | 29,234 |  |  | $ | 42,820 |  |  | $ | 234,773 |
Cost of product sales |  | 12,571 |  |  | 29,041 |  |  | 44,812 |  |  | 222,948 |
Gross profit |  | (1,760) |  |  | 193 |  |  | (1,992) |  |  | 11,825 |
Operating costs and expenses: |  |  |  |  |  |  |  |
Research and development |  | — |  |  | 159 |  |  | 2 |  |  | 1,981 |
Selling, general and administrative |  | 1,902 |  |  | 3,245 |  |  | 5,216 |  |  | 19,804 |
Impairment of intangible asset and goodwill |  | — |  |  | — |  |  | 1,000 |  |  | 32,057 |
Loss on sale of Eat Smart |  | — |  |  | 235 |  |  | — |  |  | 235 |
Loss on Sale of Yucatan |  | 21,039 |  |  |  |  | 21,039 |  |  |
Restructuring costs |  | 30 |  |  | 3,209 |  |  | 30 |  |  | 4,642 |
Total operating costs and expenses |  | 22,971 |  |  | 6,848 |  |  | 27,287 |  |  | 58,719 |
Operating loss |  | (24,731) |  |  | (6,655) |  |  | (29,279) |  |  | (46,894) |
Interest expense |  | — |  |  | (204) |  |  | — |  |  | (2,682) |
Loss from discontinued operations before taxes |  | (24,731) |  |  | (6,859) |  |  | (29,279) |  |  | (49,576) |
Income tax benefit (expense) |  | — |  |  | 411 |  |  | — |  |  | (157) |
Loss from discontinued operations, net of tax |  | $ | (24,731) |  |  | $ | (6,448) |  |  | $ | (29,279) |  |  | $ | (49,733) |

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