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ASSETS HELD FOR SALE | 6 Months Ended
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Jul. 18, 2015
Property Plant And Equipment Assets Held For Sale Disclosure [Abstract] |
ASSETS HELD FOR SALE | 16. ASSETS HELD FOR SALE The company purchases territories from and sells territories to independent distributors from time to time. The company repurchases territories from independent distributors in circumstances when the company decides to exit a territory or when the distributor elects to terminate their relationship with the company. In the event the company decides to exit a territory or ceases to utilize the independent distribution form of doing business, the company is contractually required to purchase the territory from the independent distributor. In the event an independent distributor terminates his or her relationship with the company, the company, although not legally obligated, normally repurchases and operates that territory as a company-owned territory. The independent distributors may also sell their territories to another person or entity. Territories purchased from independent distributors and operated as company-owned territories are recorded on the company’s Condensed Consolidated Balance Sheet in the line item “Assets Held for Sale” while the company actively seeks another distributor to purchase the territory. Territories held for sale and operated by the company are sold to independent distributors at the fair market value of the territory. Subsequent to the purchase of a territory by the distributor, in accordance with the terms of the distributor arrangement, the independent distributor has the right to require the company to repurchase the territory and truck, if applicable, at the original purchase price paid by the distributor within the six-month period following the date of sale. The company is not required to repay interest paid by the distributor during such six-month period. If the truck is leased, the company will assume the lease payment if the territory is repurchased during the six-month period. Should the independent distributor wish to sell the territory after the six-month period has expired, the company has the right of first refusal. The company is also selling certain plants and depots from the acquisition of certain assets of Hostess Brands, Inc. in July 2013, which included several brands, 20 closed bakeries, and 36 depots (the “Acquired Hostess Bread Assets”). The Acquired Hostess Bread Assets were originally recorded as held and used. Subsequent to the acquisition, we determined that some of the acquired plants and depots do not meet our long-term operating strategy and we are actively marketing them for sale. There are certain other properties not associated with the Acquired Hostess Bread Assets that are also in the process of being sold. These assets are recorded on the Condensed Consolidated Balance Sheet in the line item “Assets Held for Sale” and are included in the “Other” line item in the summary table below. During the twelve weeks ended July 18, 2015, we decided to close a production line at one of our bakeries and transition this production to another facility. We expect this to occur during our third quarter of fiscal 2015. We recognized an impairment loss of $1.5 million on the equipment we no longer intend to use. These assets were classified as held and used. Additionally, we recognized an impairment loss of $0.8 million on certain properties that are currently recorded as held for sale. Additional assets recorded in assets held for sale are for property, plant and equipment exclusive of the assets acquired as part of the Acquired Hostess Bread Assets discussed above. The carrying values of assets held for sale are not amortized and are evaluated for impairment as required. The table below presents the assets held for sale as of July 18, 2015 and January 3, 2015, respectively (amounts in thousands):
|  | July 18, 2015 |  |  | January 3, 2015 |
Distributor territories |  | $ | 18,997 |  |  | $ | 20,491 |
Acquired Hostess Bread Assets plants and depots |  |  | 4,041 |  |  |  | 13,406 |
Other |  |  | 7,710 |  |  |  | 5,211 |
Total assets held for sale |  | $ | 30,748 |  |  | $ | 39,108 |

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- Definition The entire disclosures of long-lived assets held for sale, including descriptions and amounts of qualitative and quantitative factors for distributor territories and property, plant, and equipment. + References No definition available. + Details
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