4. Intangible Assets and Goodwill

The following table presents details of the Company’s intangible assets, estimated lives and related accumulated amortization (in thousands):


	As of May 30, 2020						As of May 25, 2019
			Accumulated						Accumulated
	Gross		Amortization		Net		Gross		Amortization		Net
Customer contracts and relationships (3-8 years)	$	23,779	$	(6,707)	$	17,072	$	14,495	$	(3,439)	$	11,056
Tradenames (3-10 years)		4,960		(2,735)		2,225		4,407		(1,563)		2,844
Backlog (17 months)		1,210		(694)		516		-		-		-
Consultant list (3 years)		776		(718)		58		783		(462)		321
Non-compete agreements (3 years)		888		(821)		67		896		(528)		368
Computer software (2 years)		185		(46)		139		-		-		-
Total	$	31,798	$	(11,721)	$	20,077	$	20,581	$	(5,992)	$	14,589

The weighted-average useful lives of the customer contracts and relationships, tradenames and backlog are approximately 7.2 years, 5.7 years, and 1.4 years, respectively. The weighted-average useful life of all of the Company’s intangible assets is 6.5 years.

The following table summarizes amortization expense for the years stated (in thousands):



	For the Years Ended
	May 30,		May 25,		May 26,
	2020		2019		2018

Amortization expense	$	5,745	$	3,799	$	2,298

The following table presents future estimated amortization expense based on existing intangible assets (in thousands):



	Fiscal Years
		2021		2022		2023		2024		2025
Expected amortization expense	$	4,602	$	3,336	$	3,138	$	3,101	$	3,101

The following table summarizes the activity in the Company’s goodwill balance (in thousands):



	For the Years Ended
	May 30,		May 25,
	2020		2019
Goodwill, beginning of year	$	190,815	$	191,950
Acquisitions (see Note 3)		23,487		-
Impact of foreign currency exchange rate changes		(235)		(1,135)
Goodwill, end of period	$	214,067	$	190,815