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Business Segment Reporting (Tables)

9 Months Ended

Feb. 26, 2023

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 26, 2023						February 27, 2022						February 26, 2023						February 27, 2022
Switzerland			$	6.8					$	8.2					$	14.8					$	13.6
Canada			0.7						0.2						1.9						1.4
Czech Republic			0.7						0.7						2.4						2.4
Ireland			1.1						0.5						2.9						1.3
Australia			1.1						—						1.1						—
United Kingdom			0.6						0.9						1.4						2.2
All Other Countries			0.2						1.6						0.4						1.9

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 26, 2023
Net sales			$	26,330					$	1,270					$	—					$	27,600
Gross profit			6,072						(94)						—						5,978
Net (loss) income from continuing operations			851						280						(16,592)						(15,461)
Loss from discontinued operations, net of tax			—						(22,802)						(1,929)						(24,731)
Depreciation and amortization			1,878						243						10						2,131
Interest income			16						—						6						22
Interest expense			—						—						5,818						5,818
Income tax (benefit) expense			268						(3,019)						2,821						70
Corporate overhead allocation			739						241						(980)						—
Nine Months Ended February 26, 2023
Net sales			$	71,723					$	6,025					$	—					$	77,748
Gross profit			18,847						723						—						19,570
Net (loss) income from continuing operations			2,269						(1,974)						(35,008)						(34,713)
Loss from discontinued operations, net of tax			—						(27,350)						(1,929)						(29,279)
Depreciation and amortization			5,492						2,637						31						8,160
Dividend income			—						—						—						—
Interest income			47						—						6						53
Interest expense			—						1						13,714						13,715
Income tax (benefit) expense			717						(4,135)						3,496						78
Corporate overhead allocation			2,799						858						(3,657)						—
(In thousands)			Lifecore						Curation Foods						Other						Total
Three Months Ended February 27, 2022
Net sales			$	34,808					$	2,591					$	—					$	37,399
Gross profit			12,905						(39)						—						12,866
Net (loss) income from continuing operations			5,054						(5,380)						(6,312)						(6,638)
Loss from discontinued operations, net of tax			—						(3,407)						(3,041)						(6,448)
Depreciation and amortization			1,674						304						18						1,996
Interest income			18						—						2						20
Interest expense			—						26						4,079						4,105
Income tax (benefit) expense			1,596						(1,678)						(5)						(87)

Corporate overhead allocation			1,175						289						(1,464)						—
Nine Months Ended February 27, 2022
Net sales			$	81,707					$	8,433					$	—					$	90,140
Gross profit			30,384						1,249						—						31,633
Net (loss) income from continuing operations			11,317						4,640						(27,340)						(11,383)
Loss from discontinued operations, net of tax			—						(46,692)						(3,041)						(49,733)
Depreciation and amortization			4,894						364						70						5,328
Interest income			57						—						9						66
Interest expense			—						300						13,577						13,877
Income tax (benefit) expense			3,574						(13,422)						4,257						(5,591)
Corporate overhead allocation			3,389						778						(4,167)						—

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
-Subparagraph (SX 210.5-03.1)
-URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227

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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

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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