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Note 9 - Intangible Assets, Net | 9 Months Ended
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Mar. 29, 2015
Disclosure Text Block [Abstract] |
Intangible Assets Disclosure [Text Block] |
9. | Intangible Assets, Net
Intangible assets, net consists of the following:
|  | March 29, 201 5 |  |  | June 29, 201 4 |
Customer lists |  | $ | 23,615 |  |  | $ | 23,615 |
Non-compete agreements |  |  | 4,293 |  |  |  | 4,293 |
Licenses |  |  | 265 |  |  |  | 265 |
Trademarks |  |  | 386 |  |  |  | 339 |
Patents |  |  | 163 |  |  |  | 162 |
Total intangible assets, gross |  |  | 28,722 |  |  |  | 28,674 |
Accumulated amortization - customer lists |  |  | (19,034 | ) |  |  | (17,838 | )
Accumulated amortization - non-compete agreements |  |  | (3,456 | ) |  |  | (3,214 | )
Accumulated amortization - licenses |  |  | (110 | ) |  |  | (86 | )
Accumulated amortization - trademarks |  |  | (229 | ) |  |  | (141 | )
Accumulated amortization - patents |  |  | (8 | ) |  |  | (1 | )
Total accumulated amortization |  |  | (22,837 | ) |  |  | (21,280 | )
Total intangible assets, net |  | $ | 5,885 |  |  | $ | 7,394 |
In fiscal year 2007, the Company purchased the texturing operations of 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 amortized through December 2019, in a manner which reflects the expected economic benefit that will be received over its thirteen-year life. The non-compete agreement is amortized through December 2017, using the straight-line method over the period currently covered by the agreement. The amortization expense is included within the Polyester Segment’s depreciation and amortization expense. On December 2, 2013, the Company acquired certain draw winding assets and the associated business from Dillon, as described in “Note 4. Acquisition.” A customer list and a non-compete agreement were recorded in connection with the business combination, utilizing similar valuation methods as described above for the fiscal year 2007 transaction. The customer list is amortized over a nine-year estimated useful life based on the expected economic benefit. The non-compete agreement is amortized using the straight-line method over the five-year term of the agreement. The amortization expense is included within the Polyester Segment’s depreciation and amortization expense. During fiscal year 2012, the Company acquired a controlling interest (and continues to hold such 60% membership interest) in Repreve Renewables, LLC (“Renewables”), a development stage enterprise formed to cultivate, grow and sell dedicated energy crops, including biomass intended for use as a feedstock in the production of energy and potential applications for animal bedding. The non-compete agreement for Renewables is amortized using the straight-line method over the five-year term of the agreement. The licenses for Renewables are amortized using the straight-line method over their estimated useful lives of four to eight years. The Company capitalizes expenses incurred to register trademarks for REPREVE® and other PVA products in various countries. The Company has determined that these trademarks have varying useful lives of up to three years and are being amortized using the straight-line method. Amortization expense for intangible assets consists of the following:
|  | For the Three Months Ended |  |  | For the Nine Months Ended |
|  | March 29, 201 5 |  |  | March 30, 201 4 |  |  | March 29, 201 5 |  |  | March 30, 201 4 |
Customer lists |  | $ | 399 |  |  | $ | 577 |  |  | $ | 1,196 |  |  | $ | 1,317 |
Non-compete agreements |  |  | 81 |  |  |  | 81 |  |  |  | 242 |  |  |  | 238 |
Licenses |  |  | 8 |  |  |  | 8 |  |  |  | 24 |  |  |  | 23 |
Trademarks |  |  | 30 |  |  |  | 28 |  |  |  | 88 |  |  |  | 74 |
Patents |  |  | 2 |  |  |  | — |  |  |  | 7 |  |  |  | — |
Total amortization expense |  | $ | 520 |  |  | $ | 694 |  |  | $ | 1,557 |  |  | $ | 1,652 |

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