Goodwill and Intangible Assets

12 Months Ended

Jun. 30, 2013

Note 6. Goodwill and Intangible Assets

The following table presents goodwill by segment and the related change in the net carrying amount:

	Consumer Floral		BloomNet Wire Service		Gourmet Food and Gift Baskets (1)			Total
	(in thousands)
Balance at July 3, 2011	$	6,779	$	—	$	38,777		$	45,556

Acquisition of Flowerama	2,440							2,440
Acquisition related adjustments	490							490
Sale of Fannie May stores					(1,001		)	(1,001		)

Balance at July 1, 2012	$	9,709	$	—	$	37,776		$	47,485

Adjustments					(84		)	(84		)
Acquisition of Pingg	542							542

Balance at June 30, 2013	$	10,251	$	—	$	37,692		$	47,943

(1) The total carrying amount of goodwill for all periods in the table above is reflected net of $71.1 million of accumulated impairment charges, which were recorded in the GFGB segment during fiscal 2009.

The Company’s other intangible assets consist of the following:

		June 30, 2013						July 1, 2012
	Amortization Period	Gross Carrying Amount		Accumulated Amortization		Net		Gross Carrying Amount		Accumulated Amortization		Net
		(in thousands)

Intangible assets with determinable lives:
Investment in licenses	14 - 16 years	$	7,420	$	5,516	$	1,904	$	7,420	$	5,401	$	2,019
Customer lists	3 - 10 years	15,989		11,334		4,655		16,019		9,961		6,058
Other	5 - 8 years	2,538		2,513		25		2,538		2,173		365
		25,947		19,363		6,584		25,977		17,535		8,442

Trademarks with indefinite lives		36,692		—		36,692		33,134		—		33,134
Total intangible assets		$	62,639	$	19,363	$	43,276	$	59,111	$	17,535	$	41,576

Intangible assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset or asset group may not be recoverable. During the year ended June 30, 2013, the Company wrote-down the value of its Fine Stationery tradename from $1.1 million to $0.7 million.

The amortization of intangible assets for the years ended June 30, 2013, July 1, 2012 and July 3, 2011 was $1.8 million, $1.8 million and $2.3 million, respectively. Future estimated amortization expense is as follows: 2014 - $1.4 million, 2015 - $1.3 million, 2016 - $1.2 million, 2017 - $0.7 million, and thereafter - $2.0 million.

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

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