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Discontinued Operations | 9 Months Ended
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Mar. 31, 2018
Discontinued Operations and Disposal Groups [Abstract] |
Discontinued Operations | DISCONTINUED OPERATIONS In March 2018, the Company’s Board of Directors approved a plan to sell all of the operations of the HPPC and Empire operating segments, which are reported in the aggregate as the Hain Pure Protein reportable segment (“Hain Pure Protein”). Collectively, these dispositions represent a strategic shift that will have a major impact on the Company’s operations and financial results and have been accounted for as discontinued operations. The Company is actively marketing the sale of Hain Pure Protein, and a sale is anticipated to occur within the next twelve months. The Company is presenting the operating results and cash flows of Hain Pure Protein within discontinued operations in the current and prior periods. The assets and liabilities of Hain Pure Protein are presented as assets and liabilities of discontinued operations in the Consolidated Balance Sheets for all periods presented. The following table presents the major classes of Hain Pure Protein’s line items constituting the “Net (loss) income from discontinued operations, net of tax” in our Consolidated Statements of Income:
| Three Months Ended March 31, |  | Nine Months Ended March 31,
| 2018 |  | 2017 |  | 2018 |  | 2017
Net sales | $ | 118,198 |  |  | $ | 117,765 |  |  | $ | 396,227 |  |  | $ | 387,413 |
Cost of sales | 113,629 |  |  | 113,575 |  |  | 373,122 |  |  | 371,293 |
Gross profit | 4,569 |  |  | 4,190 |  |  | 23,105 |  |  | 16,120 |
Selling, general and administrative expense | 5,888 |  |  | 6,407 |  |  | 14,458 |  |  | 15,074 |
Other expense | 805 |  |  | 377 |  |  | 3,258 |  |  | 1,163 |
Net (loss) income from discontinued operations before income taxes | (2,124 | ) |  | (2,594 | ) |  | 5,389 |  |  | (117 | )
Provision (benefit) for income taxes | 10,431 |  |  | (1,098 | ) |  | 12,738 |  |  | (189 | )
Net (loss) income from discontinued operations, net of tax | $ | (12,555 | ) |  | $ | (1,496 | ) |  | $ | (7,349 | ) |  | $ | 72 |
Included above within provision (benefit) for income taxes for the three and nine months ended March 31, 2018 is a $10,703 deferred tax liability related to Hain Pure Protein being classified as held for sale. Refer to Note 10, Income Taxes for further discussion. Assets and liabilities of discontinued operations presented in the Consolidated Balance Sheets as of March 31, 2018 and June 30, 2017 are included in the following table:
| March 31, |  | June 30,
Assets | 2018 |  | 2017
Cash and cash equivalents | $ | 6,634 |  |  | $ | 9,937 |
Accounts receivable, less allowance for doubtful accounts | 24,908 |  |  | 22,671 |
Inventories | 99,782 |  |  | 85,313 |
Prepaid expenses and other current assets | 5,883 |  |  | 5,866 |
Total current assets* |  |  | 123,787 |
Property, plant and equipment, net | 81,477 |  |  | 78,645 |
Goodwill | 41,089 |  |  | 41,089 |
Trademarks and other intangible assets, net | 51,029 |  |  | 52,040 |
Other assets | 4,399 |  |  | 3,330 |
Total noncurrent assets of discontinued operations* |  |  | 175,104 |
Total assets of discontinued operations | $ | 315,201 |  |  | $ | 298,891 |
Liabilities |  |  |
Accounts payable | $ | 30,966 |  |  | $ | 35,943 |
Accrued expenses and other current liabilities | 5,084 |  |  | 2,005 |
Deferred tax liabilities | 25,863 |  |  | — |
Total current liabilities of discontinued operations* |  |  | 37,948 |
Deferred tax liabilities | — |  |  | 23,129 |
Other noncurrent liabilities | 28 |  |  | 193 |
Total noncurrent liabilities of discontinued operations* |  |  | 23,322 |
Total liabilities of discontinued operations | $ | 61,941 |  |  | $ | 61,270 |
* The assets and liabilities of Hain Pure Protein are classified as current on the March 31, 2018 Consolidated Balance Sheet because it is probable that the sale will occur within the next twelve months. As a result of the planned dispositions, the Company assessed the fair value of its assets held for sale and determined that these assets were not impaired at March 31, 2018.

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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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=2122178 + Details
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