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Discontinued Operations | 9 Months Ended
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Feb. 25, 2024
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 – Discontinued Operations, the Company completed the disposition of Yucatan and O Olive on February 7, 2023 and April 6, 2023, respectively. Yucatan and O Olive represented components of the Company’s previously operated food business and their sale represents a strategic shift in the Company going forward. Accordingly, concurrent with the execution of their respective purchase agreements, Yucatan and O Olive both met the accounting requirements for reporting as discontinued operations for all periods presented. There were no assets or liabilities of Yucatan and O Olive as of February 25, 2024. The key components of income from discontinued operations for the three and nine months ended February 25, 2024 and February 26, 2023 were as follows (in thousands):
| Three Months Ended |  | Nine Months Ended
| February 25, 2024 |  | February 26, 2023 |  | February 25, 2024 |  | February 26, 2023
Revenues | $ | — |  |  | $ | 12,190 |  |  | $ | — |  |  | $ | 48,954 |
Cost of product sales | — |  |  | 14,056 |  |  | — |  |  | 50,282 |
Gross profit | — |  |  | (1,866) |  |  | — |  |  | (1,328) |
Operating costs and expenses: |  |  |  |  |  |  |
Research and development | — |  |  | 48 |  |  | — |  |  | 217 |
Selling, general and administrative | — |  |  | 2,536 |  |  | — |  |  | 9,415 |
Impairment of intangible asset and goodwill | — |  |  | — |  |  | — |  |  | 1,300 |
Loss on Sale of Yucatan | — |  |  | 20,670 |  |  | — |  |  | 20,670 |
Restructuring costs | — |  |  | 57 |  |  | — |  |  | 111 |
Total operating costs and expenses | — |  |  | 23,311 |  |  | — |  |  | 31,713 |
Operating loss | — |  |  | (25,177) |  |  | — |  |  | (33,041) |
Other income (expense), net | 850 |  |  | — |  |  | 2,700 |  |  | — |
Income (loss) from discontinued operations before taxes | 850 |  |  | (25,177) |  |  | 2,700 |  |  | (33,041) |
Income tax benefit (expense) | (3) |  |  | — |  |  | (21) |  |  | — |
Income (loss) from discontinued operations, net of tax | $ | 847 |  |  | $ | (25,177) |  |  | $ | 2,679 |  |  | $ | (33,041) |
Cash provided by operating activities by discontinued operations totaled $2.7 million and $0.1 million for the nine months ended February 25, 2024 and February 26, 2023, respectively. Cash used in investing activities by discontinued operations for the nine months ended February 26, 2023 was $0.1 million.

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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 -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/205-20/tableOfContent Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/360/tableOfContent + Details
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