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Discontinued Operations (Tables) | 3 Months Ended
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Sep. 30, 2018
Discontinued Operations and Disposal Groups [Abstract] |
Schedule of Discontinued Operations | Assets and liabilities of discontinued operations presented in the Consolidated Balance Sheets as of September 30, 2018 and June 30, 2018 are included in the following table:
| September 30, |  | June 30,
Assets | 2018 |  | 2018
Cash and cash equivalents | $ | 4,028 |  |  | $ | 6,461 |
Accounts receivable, less allowance for doubtful accounts | 24,632 |  |  | 21,616 |
Inventories | 105,584 |  |  | 105,359 |
Prepaid expenses and other current assets | 4,879 |  |  | 5,604 |
Property, plant and equipment, net | 85,284 |  |  | 83,776 |
Goodwill | 41,089 |  |  | 41,089 |
Trademarks and other intangible assets, net | 51,029 |  |  | 51,029 |
Other assets | 4,706 |  |  | 4,381 |
Impairments of long-lived assets held for sale | (81,422 | ) |  | (78,464 | )
Current assets of discontinued operations(1) | $ | 239,809 |  |  | $ | 240,851 |
Liabilities |  |  |
Accounts payable | $ | 32,926 |  |  | $ | 31,762 |
Accrued expenses and other current liabilities | 7,452 |  |  | 6,880 |
Deferred tax liabilities | 5,943 |  |  | 11,111 |
Other noncurrent liabilities | 86 |  |  | 93 |
Current liabilities of discontinued operations(1) | $ | 46,407 |  |  | $ | 49,846 |
(1) The assets and liabilities of Hain Pure Protein are classified as current on the September 30, 2018 and June 30, 2018 Consolidated Balance Sheet because it is probable that the sale will occur within twelve months of the Board of Directors’ approval. (2) In the three months ended June 30, 2018, results for HPPC (which comprises the Plainville and FreeBird brands) were below our projections. The fourth quarter results, as well as negative market conditions in the sector, required the Company to reduce the internal projections for the business, which resulted in the Company lowering the projected long-term growth rate and profitability levels for HPPC. Accordingly, the updated projections indicated that the fair value of the HPPC business was below carrying value. As a result, in the three months ended June 30, 2018, the Company recorded a reserve of $78,464 to adjust the carrying value of Hain Pure Protein to its fair value, less its cost to sell. 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 Operations:
| Three Months Ended September 30,
| 2018 |  | 2017
Net sales | $ | 113,539 |  |  | $ | 119,057 |
Cost of sales | 123,114 |  |  | 110,842 |
Gross profit | (9,575 | ) |  | 8,215 |
Selling, general and administrative expense | 4,243 |  |  | 4,640 |
Other expense | 5,674 |  |  | 1,357 |
Net (loss) income from discontinued operations before income taxes | (19,492 | ) |  | 2,218 |
(Benefit) Provision for income taxes | (5,168 | ) |  | 985 |
Net (loss) income from discontinued operations, net of tax | $ | (14,324 | ) |  | $ | 1,233 |

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