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Goodwill and Intangible Assets | 3 Months Ended
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Aug. 24, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | Goodwill and Intangible Assets As described in Note 2 – Summary of Significant Accounting Policies, the Company changed its segment reporting effective during the first quarter of the fiscal 2025, 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 the carrying value of the Europe and Asia Pacific segment, also a reporting unit, was in excess of its fair value and as such recorded a non-cash impairment charge of $3.9 million on the Consolidated Statements of Operations during the three months ended August 24, 2024. The following table summarizes the activity in the Company’s goodwill balance. The balance as of May 25, 2024 was recast to reflect the impact of the preceding segment change (in thousands):
| On-Demand Talent |  | Consulting |  | Europe & Asia Pacific |  | Outsourced Services |  | All Other |  | Total
Balance as of May 25, 2024 | $ | 69,154 |  |  | $ | 90,478 |  |  | $ | 28,349 |  |  | $ | 28,598 |  |  | $ | — |  | $ | 216,579 |
Acquisition (see Note 4) | — |  | 6,653 |  |  | — |  | — |  | — |  | 6,653 |
Goodwill Impairment | — |  | — |  | (3,855) |  | — |  | $ | — |  | (3,855)
Impact of foreign currency exchange rate changes | — |  | — |  | 588 |  |  | — |  | — |  | 588 |
Balance as of August 24, 2024 | $ | 69,154 |  |  | $ | 97,131 |  |  | $ | 25,082 |  |  | $ | 28,598 |  |  | $ | — |  | $ | 219,965 |
The following table presents details of the Company’s intangible assets, estimated lives and related accumulated amortization (in thousands):
|  |  | As of August 24, 2024 |  | As of May 25, 2024
| Estimated Useful Life |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount
Customer contracts and relationships | 7 - 12 years |  | $ | 39,500 |  | $ | (17,854) |  |  | $ | 21,646 |  | $ | 25,100 |  | $ | (16,858) |  |  | $ | 8,242
Computer software | 1 - 3.5 years |  | 7,870 |  | (6,901) |  |  | 969 |  | 7,870 |  | (6,539) |  |  | 1,331
Trade names | 1 year |  | 600 |  | (102) |  | 498 |  | - |  | - |  | -
Non-Compete Agreements | 5 years |  | 720 |  | (25) |  | 695 |  | - |  | - |  | -
Total |  |  | $ | 48,690 |  | $ | (24,882) |  |  | $ | 23,808 |  | $ | 32,970 |  | $ | (23,397) |  |  | $ | 9,573
The Company recorded amortization expense of $1.5 million and $1.3 million for the three months ended August 24, 2024 and August 26, 2023, respectively. The following table presents future estimated amortization expense based on existing intangible assets (in thousands): Fiscal Years:
2025 (remaining nine months) | $ | 4,399
2026 | 4,186
2027 | 1,936
2028 | 1,632
2029 and thereafter | 11,655
Total | $ | 23,808
Actual future estimated amortization expense could differ from these estimated amounts as a result of future acquisitions, dispositions, impairments, and other factors or changes.

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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