NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(8) Goodwill

Goodwill relates to a previous acquisition of the folding trailer operation and totals $6.3 million at April 29, 2007 and April 30, 2006. The estimated fair value of the folding trailer operation is evaluated at the end of each year or whenever circumstances dictate that a review should be completed. Based on our review at year-end, it was determined that Fleetwood Folding Trailers’ estimated fair value exceeded its carrying value, including goodwill, resulting in no impairment.