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Inventories | 12 Months Ended
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Jun. 30, 2012
Inventory Disclosure [Abstract] |
Inventory Disclosure | Inventories
|  | Processed |  | Unprocessed |  | Total
June 30, 2012 |  | (In thousands)
Coffee |  | $ | 15,485 |  |  | $ | 11,836 |  |  | $ | 27,321 |
Tea and culinary products |  | 24,502 |  |  | 4,817 |  |  | 29,319 |
Coffee brewing equipment |  | 3,977 |  |  | 5,364 |  |  | 9,341 |
|  | $ | 43,964 |  |  | $ | 22,017 |  |  | $ | 65,981 |
|  | Processed |  | Unprocessed |  | Total
June 30, 2011 |  | (In thousands)
Coffee |  | $ | 22,464 |  |  | $ | 17,220 |  |  | $ | 39,684 |
Tea and culinary products |  | 25,469 |  |  | 4,100 |  |  | 29,569 |
Coffee brewing equipment |  | 3,930 |  |  | 6,576 |  |  | 10,506 |
|  | $ | 51,863 |  |  | $ | 27,896 |  |  | $ | 79,759 |
Current cost of coffee, tea and culinary inventories exceeds the LIFO cost by:
|  | June 30,
(In thousands) |  | 2012 |  | 2011
Coffee |  | $ | 34,844 |  |  | $ | 62,870 |
Tea and culinary products |  | 7,239 |  |  | 6,695 |
Total |  | $ | 42,083 |  |  | $ | 69,565 |
The Company routinely enters into specialized hedging transactions to purchase future coffee contracts to enable it to lock in green coffee prices within a pre-established range, and holds a mix of futures contracts and options to help hedge against volatility in green coffee prices. None of these hedging transactions, futures contracts or options is designated as an accounting hedge. Gains and losses on these derivative instruments are realized immediately in “Other, net.” For the fiscal years ended June 30, 2012, 2011 and 2010, the Company recorded $(8.6) million, $0.9 million, and $29,000, respectively, in coffee-related net realized derivative (losses) gains. For the fiscal years ended June 30, 2012, 2011 and 2010, the Company recorded $1.2 million, $(2.4) million and $1.5 million in coffee-related net unrealized derivative gains (losses). In fiscal 2012 and 2011, certain inventory quantities were reduced. This reduction resulted in the liquidation of LIFO inventory quantities carried at lower costs prevailing in prior years. The beneficial effect of this liquidation of LIFO inventory quantities reduced net loss for fiscal 2012, 2011 and 2010 by $14.2 million and $1.1 million, $0.8 million respectively.

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- Definition The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 6 -Subparagraph a, b, c -Article 5 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6361739&loc=d3e7789-107766 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 43 -Section A -Paragraph 9 -Chapter 3 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.6) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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