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Other Assets | 9 Months Ended
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Jan. 29, 2017
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Other Assets | 6. Other Assets A summary of other assets follows:
(dollars in thousands) |  | January 29, 2017 |  |  | January 31, 2016 |  |  | May 1, 2016 |
Cash surrender value – life insurance |  | $ | 376 |  |  | $ | 357 |  |  | $ | 357 |
Non-compete agreement, net |  |  | 847 |  |  |  | 922 |  |  |  | 903 |
Customer relationships, net |  |  | 677 |  |  |  | 728 |  |  |  | 715 |
Other |  |  | 517 |  |  |  | 428 |  |  |  | 598 |
|  | $ | 2,417 |  |  | $ | 2,435 |  |  | $ | 2,573 |
Non-Compete Agreement We recorded our non-compete agreement at its fair value based on a discounted cash flow valuation model. Our non-compete agreement is amortized on a straight-line basis over the fifteen year life of the respective agreement. The gross carrying amount of our non-compete agreement was $2.0 million at January 29, 2017, January 31, 2016 and May 1, 2016, respectively. At January 29, 2017, January 31, 2016, and May 1, 2016, accumulated amortization for our non-compete agreement was $1.2 million, $1.1 million, and $1.1 million, respectively. Amortization expense for our non-compete agreement was $56,000 for the nine month periods ended January 29, 2017 and January 31, 2016. The remaining amortization expense for the next five fiscal years and thereafter follows: FY 2017 - $18,000; FY 2018 - $75,000; FY 2019- $75,000; FY 2020 - $75,000; FY 2021 - $75,000 and Thereafter - $529,000. The weighted average amortization period for our non-compete agreement is 11.3 years as of January 29, 2017. Customer Relationships We recorded our customer relationships at their fair value based on a multi-period excess earnings valuation model. Our customer relationships are amortized on a straight-line basis over its seventeen year useful life. The gross carrying amount of our customer relationships was $868,000 at January 29, 2017, January 31, 2016, and May 1, 2016, respectively. Accumulated amortization for our customer relationships was $191,000, $140,000, and $153,000 at January 29, 2017, January 31, 2016, and May 1, 2016, respectively. Amortization expense for our customer relationships was $38,000 for the nine months ending January 29, 2017 and January 31, 2016. The remaining amortization expense for the next five fiscal years and thereafter follows: FY 2017 - $13,000; FY 2018 - $51,000; FY 2019 - $51,000; FY 2020 - $51,000; FY 2021 - $51,000; and Thereafter - $460,000. The weighted average amortization period for our customer relationships is 13.3 years as of January 29, 2017. Cash Surrender Value – Life Insurance At January 29, 2017, January 31, 2016, and May 1, 2016 we had one life insurance contract with a death benefit of $1.4 million. Our cash surrender value – life insurance balances totaling $376,000, $357,000 and $357,000 at January 29, 2017, January 31, 2016, and May 1, 2016, respectively, are collectible upon death of the respective insured.

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