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Intangible Assets And Goodwill | 12 Months Ended
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May 28, 2022
Intangible Assets And Goodwill [Abstract] |
Intangible Assets And Goodwill | 5. Intangible Assets and Goodwill The following table presents details of the Company’s intangible assets, estimated lives and related accumulated amortization (amounts in thousands):
| As of May 28, 2022 |  |  |  |  | As of May 29, 2021
|  |  |  |  | Accumulated |  |  |  |  |  |  |  |  |  |  |  |  | Accumulated |  |  |  |
| Gross |  |  |  | Amortization |  |  |  | Net |  |  |  |  | Gross |  |  |  | Amortization |  |  |  | Net
Customer contracts and relationships ‎(3-8 years) | $ | 22,000 |  |  |  | $ | (10,889) |  |  |  | $ | 11,111 |  |  |  |  | $ | 23,941 |  |  |  | $ | (9,918) |  |  |  | $ | 14,023
Tradenames (3-10 years) |  | 3,070 |  |  |  |  | (3,034) |  |  |  |  | 36 |  |  |  |  |  | 5,164 |  |  |  |  | (3,651) |  |  |  |  | 1,513
Backlog (17 months) |  | 1,210 |  |  |  |  | (1,210) |  |  |  |  | - |  |  |  |  |  | 1,210 |  |  |  |  | (1,210) |  |  |  |  | -
Consultant list (3 years) |  | - |  |  |  |  | - |  |  |  |  | - |  |  |  |  |  | 849 |  |  |  |  | (849) |  |  |  |  | -
Non-compete agreements (3 years) |  | - |  |  |  |  | - |  |  |  |  | - |  |  |  |  |  | 970 |  |  |  |  | (970) |  |  |  |  | -
Computer software (2-3.5 years) |  | 6,762 |  |  |  |  | (2,149) |  |  |  |  | 4,613 |  |  |  |  |  | 5,446 |  |  |  |  | (742) |  |  |  |  | 4,704
Total | $ | 33,042 |  |  |  | $ | (17,282) |  |  |  | $ | 15,760 |  |  |  |  | $ | 37,580 |  |  |  | $ | (17,340) |  |  |  | $ | 20,240
The weighted-average useful lives of the customer contracts and relationships, tradenames, backlog, and computer software are approximately 7.6 years, 3.0 years, 1.4 years, and 3.3 years, respectively. The weighted-average useful life of all of the Company’s intangible assets is 5.7 years. The Company recorded amortization expense of $4.9 million, $5.2 million, and $5.7 million for the years ended May 28, 2022, May 29, 2021 and May 30, 2020, respectively. The following table presents future estimated amortization expense based on existing intangible assets held for use (amounts in thousands):
2023 | $ | 4,783
2024 |  | 4,846
2025 |  | 3,635
2026 |  | 2,274
2027 |  | 222
Total | $ | 15,760
As further described in Note 19 – Segment Information and Enterprise Reporting, the Company changed its segment reporting effective in the second quarter of fiscal 2021, and reallocated goodwill to the new reporting units on the relative fair value basis. Concurrent with the segment change, the Company completed a goodwill impairment assessment, and concluded that no goodwill impairment existed immediately before or after the change in segment reporting. The Company’s interim and annual goodwill impairment analysis indicated that there was no related impairment for the fiscal years ended May 28, 2022, May 29, 2021 and May 30, 2020. The following table summarizes the activity in the Company’s goodwill balance. Fiscal year 2020 information was recast to reflect the impact of the preceding segment change (amounts in thousands):
| RGP |  |  | Other Segments |  |  | Total Company
Balance as of May 30, 2020 | $ | 208,958 |  |  | $ | 5,109 |  |  | $ | 214,067
Impact of foreign currency exchange rate changes |  | 430 |  |  |  | 2,261 |  |  |  | 2,691
Balance as of May 29, 2021 | $ | 209,388 |  |  | $ | 7,370 |  |  | $ | 216,758
Impact of foreign currency exchange rate changes |  | (2,558) |  |  |  | (529) |  |  |  | (3,087)
Impact of held for sale reclass (1) |  | - |  |  |  | (3,886) |  |  |  | (3,886)
Balance as of May 28, 2022 | $ | 206,830 |  |  | $ | 2,955 |  |  | $ | 209,785
(1)The 2022 decrease is due to taskforce’s goodwill being reclassified as held for sale as of May 28, 2022. See Note 4 – Assets and Liabilities Held for Sale.

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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