Note 5 - Goodwill and Other Intangible Assets
|12 Months Ended|
Jun. 30, 2018
|Notes to Financial Statements|
|Goodwill and Intangible Assets Disclosure [Text Block]||
June 30, 2018and
million of goodwill, and
million of other indefinite-lived intangible assets consisting of Ethan Allen trade names, all of which is in our wholesale segment.
fourthquarter of fiscal years
2016,the Company performed qualitative assessments of the fair value of the wholesale reporting unit and concluded it is more likely than
notthat the fair value of its goodwill exceeded its carrying value. The fair value of the trade name exceeded its carrying value by a substantial margin in fiscal years
2016.To calculate fair value of these assets, management relies on estimates and assumptions which by their nature have varying degrees of uncertainty. Management therefore looks for
thirdparty transactions to provide the best possible support for the assumptions incorporated. Management considers several factors to be significant when estimating fair value including expected financial outlook of the business, changes in the Company’s stock price, the impact of changing market conditions on financial performance and expected future cash flows, and other factors. Deterioration in any of these factors
mayresult in a lower fair value assessment, which could lead to impairment of the long-lived assets and goodwill of the Company.
The entire disclosure for goodwill and intangible assets.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef