XML 36 R20.htm IDEA: XBRL DOCUMENT
v3.7.0.1

Inventories | 12 Months Ended
--- | ---
Jun. 30, 2017
Inventory Disclosure [Abstract] |
Inventories | Inventories
|  | June 30,
(In thousands) |  | 2017 |  | 2016
Coffee |  |  |  |
Processed |  | $ | 14,085 |  |  | $ | 12,362 |
Unprocessed |  | 17,083 |  |  | 13,534 |
Total |  | $ | 31,168 |  |  | $ | 25,896 |
Tea and culinary products |  |  |  |
Processed |  | $ | 20,741 |  |  | $ | 15,384 |
Unprocessed |  | 74 |  |  | 377 |
Total |  | $ | 20,815 |  |  | $ | 15,761 |
Coffee brewing equipment parts |  | $ | 4,268 |  |  | $ | 4,721 |
Total inventories |  | $ | 56,251 |  |  | $ | 46,378 |
In addition to product cost, inventory costs include expenditures such as direct labor and certain supply and overhead expenses incurred in bringing the inventory to its existing condition and location. The “Unprocessed” inventory values as stated in the above table represent the value of raw materials and the “Processed” inventory values represent all other products consisting primarily of finished goods. Inventories were higher at the end of fiscal 2017 due to the commencement of the New Facility's manufacturing operations and incremental inventory from China Mist and West Coast Coffee as compared to lower levels of inventory at the Torrance Facility at the end of fiscal 2016 due to its anticipated closing. Notwithstanding this increase in total inventories at the end of fiscal 2017 compared to fiscal 2016 levels, inventories of manufactured spice products decreased at the end of fiscal 2017 compared to fiscal 2016 levels, primarily due to the liquidation of spice inventories in connection with the sale of the Spice Assets. As a result, the Company recorded $3.4 million in beneficial effect of the liquidation of LIFO inventory quantities in cost of goods sold in fiscal 2017, which increased income before taxes in fiscal 2017 by $3.4 million. Inventories decreased at the end of fiscal 2016 compared to fiscal 2015, primarily due to production consolidation and the sale of certain processed and unprocessed inventories to Harris at cost upon conclusion of the transition services provided by the Company in connection with the sale of the Spice Assets. Inventories decreased at the end of fiscal 2015 compared to fiscal 2014, primarily due to the consolidation and the sale of certain manufactured inventories to Harris. As a result, the Company recorded in cost of goods sold $4.2 million and $4.9 million in beneficial effect of liquidation of LIFO inventory quantities in the fiscal years ended June 30, 2016 and 2015, respectively, which increased income before taxes in fiscal 2016 and 2015 by $4.2 million and $4.9 million, respectively. Current cost of coffee, tea and culinary product inventories exceeds the LIFO cost by:
|  | June 30,
(In thousands) |  | 2017 |  | 2016
Coffee |  | $ | 13,351 |  |  | $ | 14,462 |
Tea and culinary products |  | 4,043 |  |  | 7,139 |
Total |  | $ | 17,394 |  |  | $ | 21,601 |

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

X
- Definition The entire disclosure for inventory. Includes, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the classes of inventory, and the nature of the cost elements included in inventory. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 330 -URI http://asc.fasb.org/topic&trid=2126998 + Details
Name: | us-gaap_InventoryDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration