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Discontinued Operations (Tables) | 6 Months Ended
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Sep. 30, 2024
Discontinued Operations and Disposal Groups [Abstract] |
Disposal Groups, Including Discontinued Operations | The following table summarizes the major classes of assets and liabilities of the Dental business segment that were classified as held for sale in the Consolidated Balance Sheets as of March 31, 2024:
|  |  |  | March 31, 2024
Assets |  |  |  |
Assets held-for-sale: |  |  |  |
Accounts receivable, net |  |  |  | $ | 48,590 |
Inventories, net |  |  |  | 89,345 |
Property, plant, and equipment, net |  |  |  | 73,395 |
Lease right-of-use assets, net |  |  |  | 22,822 |
Intangibles, net |  |  |  | 770,731 |
Prepaid expenses and other assets |  |  |  | 2,953 |
Loss accrued on classification as held for sale |  |  |  | (202,932) |
Total assets held-for-sale |  |  |  | $ | 804,904 |
Liabilities |  |  |  |
Liabilities held-for-sale: |  |  |  |
Accounts payable |  |  |  | $ | 10,580 |
Accrued income taxes |  |  |  | 433 |
Accrued payroll and other related liabilities |  |  |  | 13,683 |
Lease obligations |  |  |  | 23,722 |
Accrued expenses and other |  |  |  | 15,594 |
Total liabilities held-for-sale |  |  |  | $ | 64,012 |
The following table summarizes the major line items constituting pre-tax income of discontinued operations associated with the Dental segment for the three and six months ending September 30, 2024 and 2023:
|  | Three Months Ended September 30, 2024 |  | Six Months Ended September 30,
|  | 2024 |  | 2023 |  | 2024 |  | 2023
Revenues: |  |  |  |  |  |  |  |
Product |  | $ | — |  |  | $ | 104,156 |  |  | $ | 63,936 |  |  | $ | 205,312 |
Cost of revenues: |  |  |  |  |  |  |  |
Product |  | — |  |  | 56,855 |  |  | 35,146 |  |  | 113,554 |
Gross profit: |  | — |  |  | 47,301 |  |  | 28,790 |  |  | 91,758 |
Operating expenses: |  |  |  |  |  |  |  |
Selling, general, and administrative |  | — |  |  | 52,221 |  |  | 13,466 |  |  | 104,749 |
Research and development |  | — |  |  | 776 |  |  | 369 |  |  | 1,584 |
(Loss) income from operations (1) |  | — |  |  | (5,696) |  |  | 14,955 |  |  | (14,575) |
Non-operating expenses (income), net |  | — |  |  | 2 |  |  | 1 |  |  | (10) |
Pre-tax loss on sale |  | (270) |  |  | — |  |  | (8,113) |  |  | — |
(Loss) income before income tax expense |  | (270) |  |  | (5,698) |  |  | 6,841 |  |  | (14,565) |
Income tax (benefit) expense |  | (57) |  |  | (1,247) |  |  | 1,462 |  |  | (3,323) |
(Loss) income from discontinued operations, net of income tax |  | (213) |  |  | (4,451) |  |  | 5,379 |  |  | (11,242) |
(1) Income from operations for the six month period ended September 30, 2024 includes two months of operating results prior to the transaction close on May 31, 2024 and excludes depreciation and amortization of property, plant, equipment, and intangible assets subsequent to the held for sale classification as of March 2, 2024. The effective income tax rates for the three month periods ending September 30, 2024 and 2023 from discontinued operations were 21.1% and 21.9%, respectively. The effective income tax rates for the six month periods ending September 30, 2024 and 2023 from discontinued operations were 21.4% and 22.8%, respectively. Significant non-cash operating items and capital expenditures related to discontinued operations are reflected in the statement of cash flows as follows:
|  | Six Months Ended September 30,
|  | 2024 |  | 2023
Operating activities of discontinued operations: |  |  |  |
Depreciation, depletion, and amortization |  | $ | — |  |  | $ | 60,837 |
Investing activities of discontinued operations: |  |  |  |
Purchases of property, plant, equipment, and intangibles, net |  | $ | (433) |  |  | $ | (2,720) |

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