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Intangible Assets | 6 Months Ended
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Nov. 28, 2020
Goodwill And Intangible Assets Disclosure [Abstract] |
Intangible Assets | 5. INTANGIBLE ASSETS Intangible assets are initially recorded at their fair market values determined by quoted market prices in active markets, if available, or recognized valuation models. Intangible assets that have finite useful lives are amortized over their useful lives and are tested for impairment when events or changes in circumstances occur that indicate possible impairment. Our intangible assets represent the fair value for trade name, customer relationships, non-compete agreements and technology acquired in connection with our acquisitions. Intangible assets subject to amortization wer e as follows (in thousands):
|  | November 28, 2020 |  |  | May 30, 2020 |
Gross Amounts: |  |  |  |  |  |  |  |
Trade Name |  | $ | 659 |  |  | $ | 659 |
Customer Relationships(1) |  |  | 3,408 |  |  |  | 3,388 |
Non-compete Agreements |  |  | 177 |  |  |  | 177 |
Technology |  |  | 230 |  |  |  | 230 |
Total Gross Amounts |  | $ | 4,474 |  |  | $ | 4,454 |
Accumulated Amortization: |  |  |  |  |  |  |  |
Trade Name |  | $ | 659 |  |  | $ | 659 |
Customer Relationships |  |  | 1,125 |  |  |  | 1,000 |
Non-compete Agreements |  |  | 177 |  |  |  | 176 |
Technology |  |  | 125 |  |  |  | 114 |
Total Accumulated Amortization |  | $ | 2,086 |  |  | $ | 1,949 |
Net Intangible Assets |  | $ | 2,388 |  |  | $ | 2,505 |
(1) | Change from prior periods reflect impact of foreign currency translation.
The amortization expense associated with the intangible assets subject to amortization for the next five years is presented in the following table (in thousands):
Fiscal Year |  | Amortization Expense |
Remaining 2021 |  | $ | 123 |
2022 |  |  | 252 |
2023 |  |  | 246 |
2024 |  |  | 232 |
2025 |  |  | 219 |
Thereafter |  |  | 1,316 |
Total amortization expense |  | $ | 2,388 |
The weighted average number of years of amortization expense remaining is 13.3 years.

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- Definition The entire disclosure for all or part of the information related to 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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