Note 6 - Goodwill and Other Intangible Assets

9 Months Ended

Aug. 31, 2024

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:

	August 31, 2024
	Gross Carrying Amount		Accumulated Amortization			Intangible Assets, Net
Intangibles subject to amortization
Customer relationships	$	512	$	(379	)	$	133
Intangibles not subject to amortization:
Trade names							6,849
Goodwill							7,217
Total goodwill and other intangible assets						$	14,199

	November 25, 2023
	Gross Carrying Amount		Accumulated Amortization			Intangible Assets, Net
Intangibles subject to amortization
Customer relationships	$	512	$	(337	)	$	175
Intangibles not subject to amortization:
Trade names							8,675
Goodwill							7,217
Total goodwill and other intangible assets						$	16,067

See Note 9 regarding the impairment of the trade name intangible asset for Noa Home.

There were no changes in the carrying amounts of goodwill during the nine months ended August 31, 2024.

The carrying amounts of goodwill by reportable segment, including accumulated impairment losses, at both August 31, 2024 and November 25, 2023 were as follows:

	Original		Accumulated
	Recorded		Impairment			Carrying
	Value		Losses			Amount
Wholesale	$	9,188	$	(1,971	)	$	7,217
Retail		1,926		(1,926	)		-
Corporate and other		5,409		(5,409	)		-
Total goodwill	$	16,523	$	(9,306	)	$	7,217

Amortization expense associated with intangible assets during the three and nine months ended August 31, 2024 and August 26, 2023 was as follows:

	Quarter Ended				Nine Months Ended
	August 31, 2024		August 26, 2023		August 31, 2024		August 26, 2023
Intangible asset amortization expense	$	14	$	14	$	43	$	43

Estimated future amortization expense for intangible assets that exist at August 31, 2024 is as follows:

Remainder of fiscal 2024	$	14
Fiscal 2025		57
Fiscal 2026		57
Fiscal 2027		5
Fiscal 2028		-
Fiscal 2029		-
Total	$	133