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Critical Accounting Policies and Estimates (Tables)

6 Months Ended

Nov. 26, 2022

Schedule of Contract Liabilities and Revenue Recognized

Contract Liabilities: Contract liabilities and revenue recognized were as follows (in thousands):


	May 28, 2022		Additions		Revenue Recognized			November 26, 2022
Contract liabilities (deferred revenue)	$	4,966	$	2,543	$	(3,010	)	$	4,499

Schedule of Intangible Assets Subject to Amortization

Intangible assets subject to amortization were as follows (in thousands):


	November 26, 2022		May 28, 2022
Gross Amounts:
Trade Name	$	659	$	659
Customer Relationships(1)		3,383		3,393
Non-compete Agreements		177		177
Technology		380		230
Total Gross Amounts	$	4,599	$	4,459

Accumulated Amortization:
Trade Name	$	659	$	659
Customer Relationships		1,555		1,453
Non-compete Agreements		177		177
Technology		183		160
Total Accumulated Amortization	$	2,574	$	2,449

Net Intangible Assets	$	2,025	$	2,010

(1)

Change from prior periods reflect impact of foreign currency translation.

Schedule of the Amortization Expense for the Next Five Years

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 2023	$	134
2024		252
2025		240
2026		205
2027		194
Thereafter		1,000
Total amortization	$	2,025

Schedule of Accrued Liabilities

Accrued Liabilities: Accrued liabilities consisted of the following (in thousands):


	November 26, 2022		May 28, 2022
Compensation and payroll taxes	$	4,484	$	5,519
Accrued severance		516		678
Professional fees		738		470
Deferred revenue		4,499		4,966
Other accrued expenses		6,837		4,477
Accrued Liabilities	$	17,074	$	16,110