7. Other Noncurrent Assets

A summary of other noncurrent assets follows:


(dollars in thousands)	July 29, 2018		July 30, 2017		April 29, 2018
Tradenames	$	7,232	$	—	$	683
Customer relationships, net		2,764		651		2,839
Non-compete agreement, net		734		809		753
Cash surrender value – life insurance		393		376		393
Other		517		561		564

	$	11,640	$	2,397	$	5,232

Tradename

A summary of the carrying amount of our tradenames from our recent acquisitions (see Note 3) follow:


(dollars in thousands)	July 29, 2018		July 30, 2017		April 29, 2018
Read	$	683	$	—	$	683
eLuxury		6,549		—		—

	$	7,232	$	—	$	683

Our tradenames were recorded at their fair market values at the effective date of their acquisitions (see Note 3) and were based on the relief from royalty method. These tradenames were determined to have an indefinite useful life and therefore, are not being amortized.

Customer Relationships

A summary of the change in the carrying amount of our customer relationships follows:


	Three months ended
(dollars in thousands)	July 29, 2018			July 30, 2017
Beginning balance	$	2,839		$	664
Acquisition of assets		—			—
Amortization expense		(75	)		(13	)
Loss on impairment		—			—

Ending balance	$	2,764		$	651

In connection with our asset purchase agreement with Read (see note 3) on April 1, 2018, we purchased certain customer relationships. We recorded these customer relationships at fair market value totaling $2.2 million based on a multi-period excess earnings valuation model. These customer relationships will be amortized on a straight-line basis over their nine-year useful life.

Additionally, we have customer relationships from a prior acquisition with a carrying amount of $600,000 at July 29, 2018. These customer relationships are being amortized on a straight-line basis over their seventeen-year useful life.

The gross carrying amount of our customer relationships were $3.1 million, $868,000 and $3.1 million at July 29, 2018, July 30, 2017, and April 29, 2018, respectively. Accumulated amortization for these customer relationships were $351,000, $217,000 and $276,000 at July 29, 2018, July 30, 2017, and April 29, 2018, respectively.

The remaining amortization expense for the next five fiscal years and thereafter follows: FY 2019 - $226,000; FY 2020 - $301,000; FY 2021 - $301,000; FY 2022 - $301,000; FY 2023 - $301,000; and Thereafter - $1,334,000.

The weighted average amortization period for our customer relationships is 9.4 years as of July 29, 2018.

Non-Compete Agreement

A summary of the change in the carrying amount of our non-compete agreement follows:


	Three months ended
(dollars in thousands)	July 29, 2018			July 30, 2017
Beginning balance	$	753		$	828
Amortization expense		(19	)		(19	)
Loss on impairment		—			—

Ending balance	$	734		$	809

We have a non-compete agreement from a prior acquisition that is being amortized on a straight-line basis over the fifteen-year life of the agreement.

The gross carrying amount of this non-compete agreement was $2.0 million at July 29, 2018, July 30, 2017, and April 29, 2018, respectively. Accumulated amortization for this non-compete agreement was $1.3 million at July 29, 2018 and April 29, 2018, and $1.2 million at July 30, 2017.

The remaining amortization expense for the next five years and thereafter follows: FY 2019 - $56,000; FY 2020 - $75,000; FY 2021 - $75,000; FY 2022 - $75,000; FY 2023 - $75,000, and Thereafter - $378,000.

The weighted average amortization period for the non-compete agreement is 9.8 years as of July 29, 2018.

Cash Surrender Value – Life Insurance

We had one life insurance contract with a death benefit of $1.4 million at July 29, 2018, July 30, 2017, and April 29, 2018, respectively. Our cash surrender value – life insurance balances totaling $393,000, $376,000 and $393,000 at July 29, 2018, July 30, 2017, and April 29, 2018, respectively, are collectible upon death of the respective insured.