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Note 9 - Intangible Assets, Net | 3 Months Ended
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Sep. 23, 2012
Intangible Assets Disclosure [Text Block] | 9. Intangible Assets, Net Intangible assets, net consist of the following:
|  | September 23, 2012 |  |  | June 24, 2012 |
Customer list |  | $ | 22,000 |  |  | $ | 22,000 |
Non-compete agreements |  |  | 4,243 |  |  |  | 4,243 |
Licenses |  |  | 293 |  |  |  | 293 |
Total intangible assets, gross |  |  | 26,536 |  |  |  | 26,536 |
Accumulated amortization - customer list |  |  | (14,606 | ) |  |  | (14,156 | )
Accumulated amortization - non-compete agreements |  |  | (2,660 | ) |  |  | (2,581 | )
Accumulated amortization - licenses |  |  | (38 | ) |  |  | (28 | )
Total accumulated amortization |  |  | (17,304 | ) |  |  | (16,765 | )
Total intangible assets, net |  | $ | 9,232 |  |  | $ | 9,771 |
In fiscal year 2007, the Company purchased the texturing operations of Dillon Yarn Corporation (“Dillon”) which are included in the Company's Polyester segment. The valuation of the customer list acquired was determined by estimating the discounted net earnings attributable to the customer relationships that were purchased after considering items such as possible customer attrition. Based on the length and trend of the projected cash flows, an estimated useful life of thirteen years was determined. The customer list is being amortized in a manner which reflects the expected economic benefit that will be received over its thirteen year life. The Dillon non-compete agreements are amortized using the straight line method over the periods currently covered by the agreements. The amortization expense is included within the Polyester segment's depreciation and amortization expense. During the second quarter of fiscal year 2012, the Company acquired a controlling interest in Renewables. The non-compete agreement acquired is being amortized using the straight line method over the five year term of the agreement. The licenses acquired are being amortized using the straight line method over the estimated useful lives of four to eight years. Amortization expense for intangible assets consists of the following:
|  |  | For the Three Months Ended |
|  |  | September 23, 2012 |  |  |  | September 25, 2011 |
Customer list |  | $ | 450 |  |  | $ | 506 |
Non-compete agreements |  |  | 79 |  |  |  | 79 |
Licenses |  |  | 10 |  |  |  | — |
Total amortization expense |  | $ | 539 |  |  | $ | 585 |

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- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 142 -Paragraph 44, 45, 46 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=7658586&loc=d3e16323-109275 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=7658586&loc=d3e16373-109275 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=7658586&loc=d3e16265-109275 + Details
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