Goodwill And Other Intangible Assets

12 Months Ended

May 31, 2014

Goodwill And Other Intangible Assets [Abstract]

6. Goodwill and Other Intangible Assets

Goodwill and other intangibles consisted of the following (in thousands):



		Other Intangibles

		Franchise	Customer	Non-compete	Right of use	Water	Total other
	Goodwill	rights	relationships	agreements	intangible	rights	intangibles
Balance June 2, 2012	$ 22,117	$ 2,352	$ 5,676	$ -	$ -	$ -	$ 8,028
Additions	2,300	-	6,744	100	-	-	6,844
Amortization	-	(521)	(2,013)	(12)	-	-	(2,546)
Balance June 1, 2013	24,417	1,831	10,407	88	-	-	12,326
Additions	4,779	-	-	-	191	720	911
Amortization	-	(477)	(2,317)	(20)	-	-	(2,814)
Balance May 31, 2014	$ 29,196	$ 1,354	$ 8,090	$ 68	$ 191	$ 720	$ 10,423

For the Other Intangibles listed above, the gross carrying amounts and accumulated amortization are as follows (in thousands):



	May 31, 2014		June 1, 2013
	Gross carrying	Accumulated	Gross carrying	Accumulated
	amount	amortization	amount	amortization
Other intangible assets:
Franchise rights	$ 5,284	$ (3,930)	$ 5,284	$ (3,453)
Customer relationships	17,644	(9,554)	17,644	(7,237)
Non-compete agreements	100	(32)	100	(12)
Right of use intangible	191	-	-	-
Water rights *	720	-	-	-
Total	$ 23,939	$ (13,516)	$ 23,028	$ (10,702)

* Water rights are an indefinite life intangible asset.

No significant residual value is estimated for these intangible assets. Aggregate amortization expense for the fiscal years ended 2014, 2013, and 2012 totaled $2.8 million, $2.5 million, and $2.0 million, respectively. The following table represents the total estimated amortization of intangible assets for the five succeeding years (in thousands):


For fiscal period		Estimated amortization expense
2015		$ 2,745
2016		2,643
2017		1,163
2018		936
2019		911
Thereafter		1,304
Total		$ 9,702

- 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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