Intangible Assets

12 Months Ended

Jun. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Note 11. Intangible Assets

The following is a summary of the Company’s amortized and unamortized intangible assets:


		As of June 30,
	Weighted Average Amortization Period as of June 30, 2024	2024						2023
(In thousands)		Gross Carrying Amount		Accumulated Amortization		Net		Gross Carrying Amount		Accumulated Amortization		Net
Amortized intangible assets:
Customer relationships	2.8	$	33,003	$	(26,292)	$	6,711	$	33,003	$	(24,092)	$	8,911
Recipes	0.0	930		(930)		—		930		(885)		45
Trade name/brand name	0.0	510		(510)		—		510		(495)		15

Total amortized intangible assets		34,443		(27,732)		6,711		34,443		(25,472)		8,971
Unamortized intangible assets:
Trademarks, trade names and brand name with indefinite lives		4,522		—		4,522		4,522		—		4,522
Total unamortized intangible assets		4,522		—		4,522		4,522		—		4,522
Total intangible assets		$	38,965	$	(27,732)	$	11,233	$	38,965	$	(25,472)	$	13,493

There were no indefinite-lived intangible asset impairment charges recorded in the fiscal years ended June 30, 2024, 2023 and 2022.

The Company also assesses the recoverability of certain finite-lived intangible assets. No impairment was recorded for the finite-lived intangibles for the years ended June 30, 2024, 2023, and 2022. Amortization expense for the year ended June 30, 2024 was $2.3 million. Amortization expense for the years ended June 30, 2023, and 2022 were $2.4 million each year, for these assets.

At June 30, 2024, future annual amortization of finite-lived intangible assets for the fiscal years 2025 through 2028 is estimated to be (in thousands):


For the fiscal year ending:
June 30, 2025	$	2,200
June 30, 2026	2,200
June 30, 2027	1,911
June 30, 2028	400


Total	$	6,711