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Impairment of Long-Lived Assets
3 Months Ended
Aug. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Impairment of Long-Lived Assets

Note E – Impairment of Long-Lived Assets

Impairment of Long-Lived Assets

During the first quarter of fiscal 2023, we committed to plans to liquidate certain fixed assets at our toll processing facility in Cleveland, Ohio. As all of the criteria for classification of assets held for sale were met during the current quarter, the net assets have been presented separately as assets held for sale in our consolidated balance sheet as of August 31, 2022. In accordance with the applicable accounting guidance, the net assets were recorded at the lower of net book value or fair market value less costs to sell. As a result, a pre-tax impairment of $312,000 was recognized during the current quarter of fiscal 2023.