XML 53 R37.htm IDEA: XBRL DOCUMENT
v3.10.0.1

Changes in Accounting Principles and Corrections to Previously Issued Financial Statements (Tables) | 12 Months Ended
--- | ---
Jun. 30, 2018
Accounting Changes and Error Corrections [Abstract] |
Schedule of Changes in Accounting Principles | The following table presents the impact of these changes on the Company’s consolidated balance sheet at June 30, 2017:
|  | June 30, 2017
(In thousands) |  | As Previously Reported |  | LIFO to FIFO Adjustment |  | Preferable Freight and Warehousing Adjustments |  | Corrections of Freight, Overhead Variances and PPVs |  | Retrospectively Adjusted
Inventories |  | $ | 56,251 |  |  | $ | 19,675 |  |  | $ | 3,821 |  |  | $ | 43 |  |  | $ | 79,790 |
Total current assets |  | $ | 117,164 |  |  | $ | 19,675 |  |  | $ | 3,821 |  |  | $ | 43 |  |  | $ | 140,703 |
Deferred income taxes |  | $ | 63,055 |  |  | $ | (7,625 | ) |  | $ | (1,480 | ) |  | $ | (17 | ) |  | $ | 53,933 |
Total assets |  | $ | 392,736 |  |  | $ | 12,050 |  |  | $ | 2,341 |  |  | $ | 26 |  |  | $ | 407,153 |
Retained earnings |  | $ | 221,182 |  |  | $ | 13,444 |  |  | $ | 2,341 |  |  | $ | 26 |  |  | $ | 236,993 |
Accumulated other comprehensive loss |  | $ | (60,099 | ) |  | $ | (1,394 | ) |  | $ | — |  |  | $ | — |  |  | $ | (61,493 | )
Total stockholders’ equity |  | $ | 215,135 |  |  | $ | 12,050 |  |  | $ | 2,341 |  |  | $ | 26 |  |  | $ | 229,552 |
Total liabilities and stockholders’ equity |  | $ | 392,736 |  |  | $ | 12,050 |  |  | $ | 2,341 |  |  | $ | 26 |  |  | $ | 407,153 |
The following tables present the impact of these changes on the Company's consolidated statements of operations for the fiscal years ended June 30, 2017 and 2016:
|  | Year Ended June 30, 2017
(In thousands, except per share data) |  | As Previously Reported |  | LIFO to FIFO Adjustment |  | Preferable Freight and Warehousing Adjustments |  | Corrections of Freight, Overhead Variances and PPVs |  | Retrospectively Adjusted
Cost of goods sold |  | $ | 327,765 |  |  | $ | 1,739 |  |  | $ | 19,835 |  |  | $ | 5,283 |  |  | $ | 354,622 |
Gross profit |  | $ | 213,735 |  |  | $ | (1,739 | ) |  | $ | (19,835 | ) |  | $ | (5,283 | ) |  | $ | 186,878 |
Selling expenses |  | $ | 157,198 |  |  | $ | — |  |  | $ | (19,241 | ) |  | $ | (4,628 | ) |  | $ | 133,329 |
Operating expenses |  | $ | 171,569 |  |  | $ | — |  |  | $ | (19,241 | ) |  | $ | (4,628 | ) |  | $ | 147,700 |
Income from operations |  | $ | 42,166 |  |  | $ | (1,739 | ) |  | $ | (594 | ) |  | $ | (655 | ) |  | $ | 39,178 |
Income before taxes |  | $ | 40,354 |  |  | $ | (1,739 | ) |  | $ | (594 | ) |  | $ | (655 | ) |  | $ | 37,366 |
Income tax expense |  | $ | 15,954 |  |  | $ | (663 | ) |  | $ | (226 | ) |  | $ | (250 | ) |  | $ | 14,815 |
Net income |  | $ | 24,400 |  |  | $ | (1,076 | ) |  | $ | (368 | ) |  | $ | (405 | ) |  | $ | 22,551 |
Net income available to common stockholders per common share—basic |  | $ | 1.46 |  |  | $ | (0.07 | ) |  | $ | (0.02 | ) |  | $ | (0.02 | ) |  | $ | 1.35 |
Net income available to common stockholders per common share—diluted |  | $ | 1.45 |  |  | $ | (0.07 | ) |  | $ | (0.02 | ) |  | $ | (0.02 | ) |  | $ | 1.34 |
|  | Year Ended June 30, 2016
(In thousands, except per share data) |  | As Previously Reported |  | LIFO to FIFO Adjustment |  | Preferable Freight and Warehousing Adjustments |  | Corrections of Freight, Overhead Variances and PPVs |  | Retrospectively Adjusted
Cost of goods sold |  | $ | 335,907 |  |  | $ | 8,593 |  |  | $ | 21,104 |  |  | $ | 7,610 |  |  | $ | 373,214 |
Gross profit |  | $ | 208,475 |  |  | $ | (8,593 | ) |  | $ | (21,104 | ) |  | $ | (7,610 | ) |  | $ | 171,168 |
Selling expenses |  | $ | 150,198 |  |  | $ | — |  |  | $ | (20,502 | ) |  | $ | (6,436 | ) |  | $ | 123,260 |
Operating expenses |  | $ | 200,296 |  |  | $ | — |  |  | $ | (20,502 | ) |  | $ | (6,436 | ) |  | $ | 173,358 |
Income (loss) from operations |  | $ | 8,179 |  |  | $ | (8,593 | ) |  | $ | (602 | ) |  | $ | (1,174 | ) |  | $ | (2,190 | )
Income (loss) before taxes |  | $ | 9,921 |  |  | $ | (8,593 | ) |  | $ | (602 | ) |  | $ | (1,174 | ) |  | $ | (448 | )
Income tax benefit |  | $ | (79,997 | ) |  | $ | 6,430 |  |  | $ | 450 |  |  | $ | 878 |  |  | $ | (72,239 | )
Net income |  | $ | 89,918 |  |  | $ | (15,023 | ) |  | $ | (1,052 | ) |  | $ | (2,052 | ) |  | $ | 71,791 |
Net income available to common stockholders per common share—basic |  | $ | 5.45 |  |  | $ | (0.91 | ) |  | $ | (0.07 | ) |  | $ | (0.12 | ) |  | $ | 4.35 |
Net income available to common stockholders per common share—diluted |  | $ | 5.41 |  |  | $ | (0.90 | ) |  | $ | (0.07 | ) |  | $ | (0.12 | ) |  | $ | 4.32 |
The following tables present the impact of these changes on the Company's consolidated statements of cash flows as of June 30, 2017 and 2016:
|  | June 30, 2017
(In thousands) |  | As Previously Reported |  | LIFO to FIFO Adjustment |  | Preferable Freight and Warehousing Adjustments |  | Corrections of Freight, Overhead Variances and PPVs |  | Retrospectively Adjusted
Net income |  | $ | 24,400 |  |  | $ | (1,076 | ) |  | $ | (368 | ) |  | $ | (405 | ) |  | $ | 22,551 |
Adjustments to reconcile net income to net cash provided by operating activities
Deferred income taxes |  | $ | 15,482 |  |  | $ | (663 | ) |  | $ | (226 | ) |  | $ | (250 | ) |  | $ | 14,343 |
Net losses (gains) on derivative instruments and investments |  | $ | (205 | ) |  | $ | 2,566 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,361 |
Change in operating assets and liabilities:
Inventories |  | $ | (8,504 | ) |  | $ | (786 | ) |  | $ | 594 |  |  | $ | 655 |  |  | $ | (8,041 | )
Derivative assets (liabilities), net |  | $ | 2,305 |  |  | $ | (41 | ) |  | $ | — |  |  | $ | — |  |  | $ | 2,264 |
Net cash provided by operating activities |  | $ | 42,112 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 42,112 |
|  | June 30, 2016
(In thousands) |  | As Previously Reported |  | LIFO to FIFO Adjustment |  | Preferable Freight and Warehousing Adjustments |  | Corrections of Freight, Overhead Variances and PPVs |  | Retrospectively Adjusted
Net income |  | $ | 89,918 |  |  | $ | (15,023 | ) |  | $ | (1,052 | ) |  | $ | (2,052 | ) |  | $ | 71,791 |
Adjustments to reconcile net income to net cash provided by operating activities
Deferred income taxes |  | $ | (80,314 | ) |  | $ | 6,430 |  |  | $ | 450 |  |  | $ | 878 |  |  | $ | (72,556 | )
Net losses (gains) on derivative instruments and investments |  | $ | 12,910 |  |  | $ | 3,626 |  |  | $ | — |  |  | $ | — |  |  | $ | 16,536 |
Change in operating assets and liabilities:
Inventories |  | $ | 3,608 |  |  | $ | 4,677 |  |  | $ | 604 |  |  | $ | 1,174 |  |  | $ | 10,063 |
Derivative assets (liabilities), net |  | $ | (10,583 | ) |  | $ | 288 |  |  | $ | — |  |  | $ | — |  |  | $ | (10,295 | )
Net cash provided by operating activities |  | $ | 27,628 |  |  | $ | (2 | ) |  | $ | 2 |  |  | $ | — |  |  | $ | 27,628 |

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

X
- Definition Tabular disclosure of changes in accounting principles, including adoption of new accounting pronouncements, that describes the new methods, amount and effects on financial statement line items. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=64853466&loc=d3e22580-107794 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=68064558&loc=d3e765-108305 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=64853466&loc=d3e22499-107794 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.10-01.(b)(6)) -URI http://asc.fasb.org/extlink&oid=27015980&loc=d3e46468-122699 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=64853466&loc=d3e22583-107794 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=68064558&loc=d3e725-108305 + Details
Name: | us-gaap_ScheduleOfNewAccountingPronouncementsAndChangesInAccountingPrinciplesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration