Note 6 - Goodwill and Intangible Assets, Net

6 Months Ended

Jan. 01, 2023

Notes to Financial Statements

Goodwill and Intangible Assets Disclosure [Text Block]

Note 6 – Goodwill and Intangible Assets, Net

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

	Consumer Floral & Gifts		BloomNet		Gourmet Foods & Gift Baskets		Total
	(in thousands)
Balance at July 3, 2022	$	151,600	$	-	$	61,687	$	213,287
Measurement period adjustment for Vital Choice Acquisition		-		-		600		600
Measurement period adjustment for Alice's Table Acquisition		112		-		-		112
Balance at January 1, 2023	$	151,712	$	-	$	62,287	$	213,999

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

				January 1, 2023						July 3, 2022
	Amortization Period			Gross Carrying Amount		Accumulated Amortization		Net		Gross Carrying Amount		Accumulated Amortization		Net
	(in years)			(in thousands)
Intangible assets with determinable lives
Investment in licenses	14	-	16	$	7,420	$	6,516	$	904	$	7,420	$	6,464	$	956
Customer lists	3	-	10		28,309		19,512		8,797		28,509		17,473		11,036
Other	5	-	14		2,946		2,573		373		2,946		2,543		403
Total intangible assets with determinable lives					38,675		28,601		10,074		38,875		26,480		12,395
Trademarks with indefinite lives					132,773		-		132,773		133,173		-		133,173
Total identifiable intangible assets				$	171,448	$	28,601	$	142,847	$	172,048	$	26,480	$	145,568

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. Future estimated amortization expense is as follows: remainder of fiscal 2023 - $2.0 million, fiscal 2024 - $4.2 million, fiscal 2025 - $1.7 million, fiscal 2026 - $1.1 million, fiscal 2027 - $0.5 million and thereafter - $0.6 million.