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Sale of Sunflower Business | 12 Months Ended
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Dec. 31, 2022
Sunflower Business [Member] |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] |
Sale of Sunflower Business [Text Block] | 3. Sale of Sunflower Business On October 11, 2022, the Company completed the sale of 100% of the assets and liabilities of its sunflower business and related roasted snacks operations, for cash consideration of $16.0 million, subject to closing debt and working capital adjustments. The sunflower business operated from three processing facilities located in Minnesota and North Dakota and was reported in the Company's Plant-Based Foods and Beverages operating segment. For the year ended December 31, 2022, the Company recognized a loss on the sale of the sunflower business, which is recorded in other expense, net, as follows:
|  | $ |
Cash consideration |  | 16,000 |
Less: debt and working capital adjustments |  | (6,620 | )
Less: costs to sell |  | (1,162 | )
Net proceeds(1) |  | 8,218 |
Accounts receivable |  | 10,572 |
Inventories |  | 13,493 |
Other current assets |  | 105 |
Property, plant and equipment |  | 10,328 |
Operating lease right-of-use assets |  | 1,834 |
Intangible assets, net |  | 2,512 |
Accounts payable and accrued liabilities |  | (4,985 | )
Operating lease liabilities |  | (2,414 | )
Net assets sold |  | 31,445 |
Pre-tax loss on sale |  | (23,227 | )
(1) As at December 31, 2022, the Company had received net cash proceeds of $7.8 million and the remaining proceeds of $0.4 million, related to the settlement of the final working capital adjustment, was recorded in accounts receivable (see note 4). As the disposal of the sunflower business did not have a major effect on the Company's operations or financial results and, therefore, did not qualify for presentation as discontinued operations on a standalone basis, the operating results for the business prior to October 11, 2022, are reported in continuing operations on the consolidated statements of operations for the current and comparative periods. The following table presents revenues and earnings (loss) before income taxes for the sunflower business included in the Company's consolidated results of operations for years ended December 31, 2022, January 1, 2022 and January 2, 2021:
|  | December 31, 2022 |  |  | January 1, 2022 |  |  | January 2, 2021 |
|  | $ |  |  | $ |  |  | $ |
Revenues |  | 57,924 |  |  | 63,094 |  |  | 54,618 |
Earnings (loss) before income taxes(1) |  | 1,182 |  |  | 1,082 |  |  | (5,689 | )
(1) For the year ended December 31, 2022, excludes the loss on sale. In addition, for all years presented, excludes the allocation of corporate costs.

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- Definition The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI https://asc.fasb.org/topic&trid=2155823 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -URI https://asc.fasb.org/subtopic&trid=2122178 + Details
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