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GOODWILL AND OTHER INTANGIBLE ASSETS | 12 Months Ended
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Jun. 27, 2015
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND INTANGIBLE ASSETS | GOODWILL AND OTHER INTANGIBLE ASSETS In accordance with ASC 350 Intangibles – Goodwill and Other Intangibles, goodwill is not amortized, but must be analyzed for impairment at least annually. The Company recorded goodwill in connection with the Ayrshire and Sabre acquisitions resulting primarily from the synergies that resulted from the Company’s acquisitions and the assembled workforce. The goodwill is not amortized for financial accounting purposes. The goodwill from the acquisitions is not deductible for tax purposes. On March 30, 2015, the Company completed its annual impairment test. The Company concluded that it is more likely than not that the fair value of goodwill is greater than the carrying value. As of June 27, 2015, goodwill was recorded at $10.0 million. As of June 28, 2014, goodwill was recorded at $1.7 million. The components of acquired intangible assets are as follows (in thousands):
|  | June 27, 2015
|  | Amortization Period in Years |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount
Intangible assets: |  |  |  |  |  |  |  |
Non-Compete Agreements |  | 3 - 5 |  | $ | 568 |  |  | $ | (204 | ) |  | $ | 364 |
Customer Relationships |  | 10 |  | 4,803 |  |  | (630 | ) |  | 4,173 |
Favorable Lease Agreements |  | 4 - 7 |  | 2,941 |  |  | (423 | ) |  | 2,518 |
Total |  |  |  | $ | 8,312 |  |  | $ | (1,257 | ) |  | $ | 7,055 |
|  | June 28, 2014
|  | Amortization Period in Years |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount
Intangible assets: |  |  |  |  |  |  |  |
Non-Compete Agreements |  | 5 |  | $ | 372 |  |  | $ | (74 | ) |  | $ | 298 |
Customer Relationships |  | 10 |  | 1,970 |  |  | (197 | ) |  | 1,773 |
Total |  |  |  | $ | 2,342 |  |  | $ | (271 | ) |  | $ | 2,071 |
Amortization expense was approximately $1.0 million and $0.3 million for the years ended June 27, 2015 and June 28, 2014, respectively. Aggregate amortization expense relative to existing intangible assets by fiscal year is currently estimated to be as follows (in thousands):
Fiscal Years Ending |  | Amount
2016 |  | $ | 1,128 |
2017 |  | 1,128 |
2018 |  | 1,073 |
2019 |  | 818 |
2020 |  | 783 |
Thereafter |  | 2,125 |
Total amortization expense |  | $ | 7,055 |

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- Definition The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss. + References Reference 1: 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=26713463&loc=d3e16373-109275 Reference 2: 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=26713463&loc=d3e16265-109275 Reference 3: 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=26713463&loc=d3e16323-109275 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=35741047&loc=d3e13816-109267 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=35741047&loc=d3e13854-109267 + Details
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