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Note 9 - Intangible Assets, Net | 12 Months Ended
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Jun. 26, 2016
Notes to Financial Statements |
Intangible Assets Disclosure [Text Block] | 9. Intangible Assets, Net Intangible assets, net consists of the following:
|  | June 26, 2016 |  |  | June 28, 2015 |
Customer lists |  | $ | 23,615 |  |  | $ | 23,615 |
Non-compete agreements |  |  | 4,293 |  |  |  | 4,293 |
Licenses, trademarks and other |  |  | 891 |  |  |  | 837 |
Total intangible assets, gross |  |  | 28,799 |  |  |  | 28,745 |
Accumulated amortization - customer lists |  |  | (20,665 | ) |  |  | (19,432 | )
Accumulated amortization - non-compete agreements |  |  | (3,860 | ) |  |  | (3,537 | )
Accumulated amortization – licenses, trademarks and other |  |  | (533 | ) |  |  | (388 | )
Total accumulated amortization |  |  | (25,058 | ) |  |  | (23,357 | )
Total intangible assets, net |  | $ | 3,741 |  |  | $ | 5,388 |
In fiscal 2007, the Company purchased certain texturing operations, 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. A customer list and a non-compete agreement were recorded in connection with the business combination outlined in Note 4, utilizing similar valuation methods as described above for the fiscal 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. In fiscal 2012, the Company acquired a controlling interest (and continues to hold such 60% membership interest) in Repreve Renewables, LLC (“Renewables”), an agricultural company focused on the development, production and commercialization of miscanthus grass for use in the animal bedding, bio energy and bio-based products markets. The non-compete agreement for Renewables is amortized using the straight-line method over the five-year term of the agreement. The FREEDOM ® Giant Miscanthus (“FGM”) license held by Renewables is amortized using the straight-line method over its estimated useful life of eight years. The Company capitalizes costs 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 Fiscal Year Ended |
|  | June 26, 2016 |  |  | June 28, 2015 |  |  | June 29, 2014 |
Customer lists |  | $ | 1,233 |  |  | $ | 1,594 |  |  | $ | 1,845 |
Non-compete agreements |  |  | 323 |  |  |  | 323 |  |  |  | 319 |
Licenses, trademarks and other |  |  | 145 |  |  |  | 163 |  |  |  | 134 |
Total amortization expense |  | $ | 1,701 |  |  | $ | 2,080 |  |  | $ | 2,298 |
The following table presents the expected intangible asset amortization for the next five fiscal years:
|  | 2017 |  |  | 2018 |  |  | 2019 |  |  | 2020 |  |  | 2021 |
Expected amortization |  | $ | 1,393 |  |  | $ | 1,054 |  |  | $ | 700 |  |  | $ | 351 |  |  | $ | 69 |

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