XML 50 R28.htm IDEA: XBRL DOCUMENT
v3.19.3.a.u2

Discontinued Operations (Tables) | 6 Months Ended
--- | ---
Dec. 31, 2019
Discontinued Operations and Disposal Groups [Abstract] |
Schedule of Discontinued Operations | The following table presents the major classes of Tilda’s results within “Net loss from discontinued operations, net of tax” in our Consolidated Statements of Operations:
| Three Months Ended December 31, |  |  |  | Six Months Ended December 31, |  |
| 2019 |  | 2018 |  | 2019 |  | 2018
Net sales | $ | 2,667 |  |  | $ | 50,590 |  |  | $ | 30,399 |  |  | $ | 92,945 |
Cost of sales | 2,496 |  |  | 37,668 |  |  | 26,648 |  |  | 69,337 |
Gross profi t | 171 |  |  | 12,922 |  |  | 3,751 |  |  | 23,608 |
Selling, general and administrative expense | 246 |  |  | 6,892 |  |  | 5,185 |  |  | 13,172 |
Other expense | 824 |  |  | 537 |  |  | 1,172 |  |  | 1,083 |
Interest expense(1) | — |  |  | 3,391 |  |  | 2,432 |  |  | 6,782 |
Translation loss(2) | — |  |  | — |  |  | 95,120 |  |  | — |
Loss (gain) on sale of discontinued operations | 3,752 |  |  | — |  |  | (10,170) |  |  | — |
Net (loss) income from discontinued operations before income taxes | (4,651) |  |  | 2,102 |  |  | (89,988) |  |  | 2,571 |
(Benefit) provision for income taxes(3) | (1,835) |  |  | (407) |  |  | 13,865 |  |  | 76 |
Net (loss) income from discontinued operations, net of tax | $ | (2,816) |  |  | $ | 2,509 |  |  | $ | (103,853) |  |  | $ | 2,495 |
(1) Interest expense was allocated to discontinued operations based on borrowings repaid with proceeds from the sale of Tilda. (2) At the completion of the sale of Tilda, the Company reclassified $95,120 of related cumulative translation losses from Accumulated other comprehensive loss to discontinued operations, net of tax. (3) Includes a tax (benefit) provision related to the tax gain on the sale of Tilda of $(1,250) and $15,250 for the three and six months ended December 31, 2019, respectively. Assets and liabilities of discontinued operations associated with Tilda presented in the Consolidated Balance Sheets as of June 30, 2019 are included in the following table:
|  | June 30,
ASSETS |  | 2019
Cash and cash equivalents |  | $ | 8,509 |
Accounts receivable, less allowance for doubtful accounts |  | 26,955 |
Inventories |  | 65,546 |
Prepaid expenses and other current assets |  | 9,038 |
Total current assets of discontinued operations(1) |  | 110,048 |
Property, plant and equipment, net |  | 40,516 |
Goodwill |  | 133,098 |
Trademarks and other intangible assets, net |  | 84,925 |
Other assets |  | 628 |
Total noncurrent assets of discontinued operations(1) |  | 259,167 |
Total assets of discontinued operations |  | $ | 369,215 |
LIABILITIES |  |
Accounts payable |  | $ | 18,341 |
Accrued expenses and other current liabilities |  | 4,675 |
Current portion of long-term debt |  | 8,687 |
Total current liabilities of discontinued operations(1) |  | 31,703 |
Deferred tax liabilities |  | 17,153 |
Other noncurrent liabilities |  | 208 |
Total noncurrent liabilities of discontinued operations(1) |  | 17,361 |
Total liabilities of discontinued operations(1) |  | $ | 49,064 |
(1) Assets and liabilities from discontinued operations were classified as current and noncurrent at June 30, 2019 as they did not meet the held-for-sale criteria. The following table presents the major classes of Hain Pure Protein’s results within “Net loss from discontinued operations, net of tax” in our Consolidated Statements of Operations:
| Three Months Ended December 31, |  |  | Six Months Ended December 31, |  |
| 2019 |  | 2018 | 2019 |  | 2018
Net sales | $ | — |  |  | $ | 147,181 |  | $ | — |  |  | $ | 260,720 |
Cost of sales | — |  |  | 144,682 |  | — |  |  | 267,796 |
Gross profit (loss) | — |  |  | 2,499 |  | — |  |  | (7,076) |
Selling, general and administrative expense | — |  |  | 4,750 |  | — |  |  | 8,992 |
Asset impairments | — |  |  | 54,946 |  | — |  |  | 57,904 |
Other expense | — |  |  | 2,478 |  | — |  |  | 5,195 |
Loss on sale of discontinued operations(1) | — |  |  | — |  | 1,424 |  |  | — |
Net loss from discontinued operations before income taxes | — |  |  | (59,675) |  | (1,424) |  |  | (79,167) |
Benefit for income taxes | — |  |  | (22,452) |  | (393) |  |  | (27,620) |
Net loss from discontinued operations, net of tax | $ | — |  |  | $ | (37,223) |  | $ | (1,031) |  |  | $ | (51,547) |
(1) Primarily relates to preliminary closing balance sheet adjustments.

X
- References No definition available. + Details
Name: | us-gaap_DiscontinuedOperationsAndDisposalGroupsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information 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 -SubTopic 10 -Section 50 -Paragraph 3A -URI http://asc.fasb.org/extlink&oid=109226691&loc=SL51724579-110230 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109222650&loc=d3e1474-107760 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5D -URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721677-107760 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=109222160&loc=SL51721533-107759 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3A -URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721659-107760 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721665-107760 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109226691&loc=d3e2941-110230 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5C -URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721675-107760 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721683-107760 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=109222650&loc=d3e1361-107760 Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5A -URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721671-107760 Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5B -URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721673-107760 Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 4A -URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721663-107760 + Details
Name: | us-gaap_ScheduleOfDisposalGroupsIncludingDiscontinuedOperationsIncomeStatementBalanceSheetAndAdditionalDisclosuresTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration