XML 87 R20.htm IDEA: XBRL DOCUMENT v2.4.0.8
Investments And Joint Ventures
6 Months Ended
Dec. 31, 2013
Equity Method Investments and Joint Ventures [Abstract]  
Investments And Joint Ventures
INVESTMENTS AND JOINT VENTURES
Equity method investments
At December 31, 2013, the Company owned 48.7% of Hain Pure Protein. This investment is accounted for under the equity method of accounting. The carrying value of our investment of $29,744 is included in the Condensed Consolidated Balance Sheet in “Investments and joint ventures.” Additionally, our previously provided advances to HPP of $6,022 were repaid to us during the six months ended December 31, 2013.
At December 31, 2013, the Company also owned 50.0% of a joint venture, Hutchison Hain Organic Holdings Limited (“HHO”), with Chi-Med, a majority owned subsidiary of Hutchison Whampoa Limited. HHO markets and distributes certain of the Company’s brands in Hong Kong, China and other markets. Voting control of the joint venture is shared 50/50 between the Company and Chi-Med, although, in the event of a deadlock, Chi-Med has the ability to cast the deciding vote. The carrying value of our investment and advances to HHO of $1,841 are included in the Condensed Consolidated Balance Sheet in “Investments and joint ventures.” The investment is being accounted for under the equity method of accounting.
Available-For-Sale Securities
The Company has a less than 1% equity ownership interest in Yeo Hiap Seng Limited (“YHS”), a Singapore based natural food and beverage company listed on the Singapore Exchange, which is accounted for as an available-for-sale security. The Company sold 328,000 of its YHS shares during the three months ended December 31, 2013 which resulted in a $234 gain on the sale. The remaining shares held at December 31, 2013 totaled 5,043,738. The fair value of these shares held was $9,744 (cost basis of $6,288) at December 31, 2013 and $11,237 (cost basis of $6,696) at June 30, 2013 and is included in “Investments and joint ventures,” with the related unrealized gain, net of tax, included in “Accumulated other comprehensive income” in the Condensed Consolidated Balance Sheets.