Note 7. Goodwill and Intangible Assets

We account for goodwill and intangible assets in accordance with ASC 350, Goodwill and Other Intangible Assets.

Goodwill

The changes in the carrying amount of goodwill related to each reportable segment for the fiscal year ended May 2, 2020 were as follows:



	Live Events			Commercial			Transportation			International			Total
Balance as of April 27, 2019:	$	2,276		$	3,218		$	49		$	2,346		$	7,889
Foreign currency translation	(10		)	(74		)	(11		)	(51		)	(146		)
Balance as of May 2, 2020:	$	2,266		$	3,144		$	38		$	2,295		$	7,743

We perform an analysis of goodwill on an annual basis, and test for impairment more frequently if events or changes in circumstances indicate that an asset might be impaired. Our annual analysis is performed during our third quarter of each fiscal year, based on the goodwill amount as of the first business day of our third fiscal quarter. We performed our annual impairment test and concluded no goodwill impairment existed for fiscal years 2020, 2019, and 2018.

In conducting our impairment testing, we utilize step 0 which allows us to first assess qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying value. If, based on a review of qualitative factors, it is more likely than not that the fair value of a reporting unit is less than its carrying value we perform a quantitative impairment test by comparing the fair value of a reporting unit with its carrying amount. If the carrying value exceeds the fair value, we measure the amount of impairment loss, if any.

In March 2020, we began to see impacts from the COVID-19 pandemic that could have a negative impact on our forecasted revenue and profitability. This, along with the decline in our stock price and other market conditions, led us to perform an interim qualitative goodwill impairment analysis. After evaluating our results, events and circumstances, we determined that a quantitative or step 1 analysis was necessary for our International business unit. The results of that analysis indicated no goodwill impairment was necessary.

Intangible Assets

The following table summarizes intangible assets, net, as of May 2, 2020 and April 27, 2019:



	May 2, 2020
	Weighted Average Life (in years)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Registered trademarks	19.4	$	663	$	183	$	480
Software	3.0	6,247		4,890		1,357
Customer relationships	10.0	2,641		1,135		1,506
Other	1.5	120		109		11
Total amortized intangible assets	6.0	$	9,671	$	6,317	$	3,354

	April 27, 2019
	Weighted Average Life (in years)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Registered trademarks	19.5	$	679	$	148	$	531
Software	3.0	6,330		3,807		2,523
Customer relationships	10.0	2,720		888		1,832
Other	1.4	123		103		20
Total amortized intangible assets	6.0	$	9,852	$	4,946	$	4,906

In the fiscal years 2020, 2019, and 2018, amortization expense was $1,498, $2,157, and $1,330, respectively. Amortization expenses are included primarily in product design and development and selling expense in the consolidated statements of operations.

As of May 2, 2020, amortization expenses for future periods were estimated to be as follows:



Fiscal years ending	Amount
2021	$	1,483
2022	476
2023	280
2024	280
2025	280
Thereafter	555
Total expected amortization expense	$	3,354