Note 6 - Goodwill and Other Intangible Assets

3 Months Ended

Feb. 26, 2022

Notes to Financial Statements

Goodwill and Intangible Assets Disclosure [Text Block]

6. Goodwill and Other Intangible Assets

Goodwill and other intangible assets consisted of the following:

	February 26, 2022
	Gross Carrying Amount		Accumulated Amortization			Intangible Assets, Net
Intangibles subject to amortization
Customer relationships	$	512	$	(237	)	$	275
Intangibles not subject to amortization:
Trade names							6,848
Goodwill							7,217
Total goodwill and other intangible assets						$	14,340

	November 27, 2021
	Gross Carrying Amount		Accumulated Amortization			Intangible Assets, Net
Intangibles subject to amortization
Customer relationships	$	512	$	(223	)	$	289
Intangibles not subject to amortization:
Trade names							6,848
Goodwill							7,217
Total goodwill and other intangible assets						$	14,354

The carrying amounts of goodwill by reportable segment at both February 26, 2022 and November 27, 2021 are as follows:

	Original		Accumulated
	Recorded		Impairment			Carrying
	Value		Losses			Amount
Wholesale	$	9,188	$	(1,971	)	$	7,217
Retail		1,926		(1,926	)		-
Total goodwill	$	11,114	$	(3,897	)	$	7,217

Goodwill and other intangible assets associated with our logistical services segment totaling $9,023 and $9,094 at February 26, 2022 and November 27, 2021, respectively, are included in assets of discontinued operations held for sale in the accompanying balance sheets (see Note 12).

Amortization expense associated with intangible assets during the three months ended February 26, 2022 and February 27, 2021 was as follows:

	Quarter Ended
	February 26, 2022		February 27, 2021
Intangible asset amortization expense	$	14	$	14

Estimated future amortization expense for intangible assets that exist at February 26, 2022 is as follows:

Remainder of fiscal 2022	$	43
Fiscal 2023		57
Fiscal 2024		57
Fiscal 2025		57
Fiscal 2026		57
Fiscal 2027		4
Total	$	275