4. Intangible Assets and Goodwill

The following table summarizes details of the Company’s intangible assets and related accumulated amortization (amounts in thousands):


	As of November 24, 2018						As of May 26, 2018
			Accumulated						Accumulated
	Gross		Amortization		Net		Gross		Amortization		Net

Customer contracts and relationships (3-8 years)	$	14,516	$	(2,352)	$	12,164	$	14,565	$	(1,263)	$	13,302
Tradenames (3-10 years)		4,429		(1,059)		3,370		4,481		(560)		3,921
Consultant list (3 years)		793		(334)		459		815		(205)		610
Non-compete agreements (3 years)		906		(382)		524		932		(234)		698
Total	$	20,644	$	(4,127)	$	16,517	$	20,793	$	(2,262)	$	18,531

The Company recorded amortization expense of $1.0 million and $0.3 million for the three months ended November 24, 2018 and November 25, 2017, respectively, and $1.9 million and $0.3 million for the six months ended November 24, 2018 and November 25, 2017, respectively. The increase in the current fiscal year is due to the amortization of intangible assets acquired in the Accretive transaction. Future estimated intangible asset amortization expense (based on existing intangible assets) is $3.8 million, $3.8 million, $2.5 million, $1.8 million and $1.8 million for the years ending May 25, 2019, May 30, 2020, May 29, 2021, May 28, 2022 and May 27, 2023, respectively. The estimates of future intangible asset amortization expense do not incorporate the potential impact of future currency fluctuations when translating the financial results of the Company’s international operations that have amortizable intangible assets into U.S. dollars.

The following table summarizes the activity in the Company’s goodwill balance (in thousands):



	November 24,		November 25,
	2018		2017
Goodwill, beginning of year	$	191,950	$	171,088
Acquisitions (see Note 3)		3		9,039
Impact of foreign currency exchange rate changes		(781)		1,081
Goodwill, end of period	$	191,172	$	181,208