Goodwill And Intangible Assets

6 Months Ended

Nov. 25, 2023

Goodwill And Intangible Assets [Abstract]

5. Goodwill and Intangible Assets

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


	RGP		Other Segments		Total
Balance as of May 27, 2023	$	206,722	$	-	$	206,722
Acquisition (see Note 4)		9,938		-		9,938
Impact of foreign currency exchange rate changes		374		-		374
Balance as of November 25, 2023	$	217,034	$	-	$	217,034

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


		As of November 25, 2023						As of May 27, 2023
	Estimated	Gross				Net		Gross				Net
	Useful	Carrying		Accumulated		Carrying		Carrying		Accumulated		Carrying
	Life	Amount		Amortization		Amount		Amount		Amortization		Amount
Customer contracts and relationships	3 - 12 years	$	25,100	$	(15,258)	$	9,842	$	22,000	$	(13,802)	$	8,198
Computer software	2 - 3.5 years		7,870		(5,396)		2,474		7,541		(4,218)		3,323
Tradenames	1 year		100		-		100		-		-		-
Total		$	33,070	$	(20,654)	$	12,416	$	29,541	$	(18,020)	$	11,521

The Company recorded amortization expense of $1.3 million and $1.2 million for the three months ended November 25, 2023 and November 26, 2022, respectively, and $2.6 million and $2.5 million for the six months ended November 25, 2023 and November 26, 2022, respectively.

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

Fiscal Years:


2024 (remaining six months)	$	2,794
2025		4,147
2026		2,793
2027		593
2028 and thereafter		2,089
Total	$	12,416

Actual future estimated amortization expense could differ from these estimated amounts as a result of future acquisitions, dispositions, impairments, and other factors or changes.