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Discontinued Operations (Tables) | 9 Months Ended
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Mar. 31, 2020
Discontinued Operations and Disposal Groups [Abstract] |
Schedule of Discontinued Operations | The following table presents the major classes of Tilda’s results within “Net income (loss) from discontinued operations, net of tax” in our Consolidated Statements of Operations:
| Three Months Ended March 31, |  |  |  | Nine Months Ended March 31, |  |
| 2020 |  | 2019 |  | 2020 |  | 2019
Net sales | $ | — |  |  | $ | 52,540 |  |  | $ | 30,399 |  |  | $ | 145,485 |
Cost of sales | — |  |  | 40,479 |  |  | 26,648 |  |  | 109,816 |
Gross profi t | — |  |  | 12,061 |  |  | 3,751 |  |  | 35,669 |
Selling, general and administrative expense | — |  |  | 6,651 |  |  | 5,185 |  |  | 19,823 |
Other expense | — |  |  | 539 |  |  | 1,172 |  |  | 1,622 |
Interest expense(1) | — |  |  | 3,395 |  |  | 2,432 |  |  | 10,177 |
Translation loss(2) | — |  |  | — |  |  | 95,120 |  |  | — |
Loss (gain) on sale of discontinued operations | 540 |  |  | — |  |  | (9,630) |  |  | — |
Net (loss) income from discontinued operations before income taxes | (540) |  |  | 1,476 |  |  | (90,528) |  |  | 4,047 |
(Benefit) provision for income taxes(3) | (965) |  |  | 171 |  |  | 12,900 |  |  | 247 |
Net income (loss) from discontinued operations, net of tax | $ | 425 |  |  | $ | 1,305 |  |  | $ | (103,428) |  |  | $ | 3,800 |
(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 $(750) and $14,500 for the three and nine months ended March 31, 2020, 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 March 31, |  |  | Nine Months Ended March 31, |  |
| 2020 |  | 2019 | 2020 |  | 2019
Net sales | $ | — |  |  | $ | 88,729 |  | $ | — |  |  | $ | 349,449 |
Cost of sales | — |  |  | 88,277 |  | — |  |  | 356,073 |
Gross profit (loss) | — |  |  | 452 |  | — |  |  | (6,624) |
Selling, general and administrative expense | — |  |  | 4,039 |  | — |  |  | 13,031 |
Asset impairments | — |  |  | 51,348 |  | — |  |  | 109,252 |
Other expense | — |  |  | 2,182 |  | — |  |  | 7,377 |
Loss on sale of discontinued operations(1) | 1,781 |  |  | 40,223 |  | 3,205 |  |  | 40,223 |
Net loss from discontinued operations before income taxes | (1,781) |  |  | (97,340) |  | (3,205) |  |  | (176,507) |
Benefit for income taxes | (659) |  |  | (21,415) |  | (1,052) |  |  | (49,035) |
Net loss from discontinued operations, net of tax | $ | (1,122) |  |  | $ | (75,925) |  | $ | (2,153) |  |  | $ | (127,472) |
(1) Primarily relates to preliminary closing balance sheet adjustments.

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