Assets Held for Sale

9 Months Ended

Oct. 01, 2022

Assets Held for Sale.

Assets Held for Sale

(18) Assets Held for Sale

During the third quarter of 2022, we reclassified $157.9 million of assets related to our Back to Nature business as assets held for sale because we have decided to divest the business, which is no longer core to our overall business or long-term strategy. We then measured the assets held for sale at the lower of their carrying value or fair value less anticipated costs to sell and recorded pre-tax, non-cash impairment charges of $103.6 million during the third quarter of 2022.

The following table sets forth the assets held for sale at October 1, 2022 relating to the pending sale of the Back to Nature brand (in thousands):

	October 1, 2022
Trademarks — indefinite-lived intangible assets	$	109,900
Goodwill		29,500
Customer relationships — finite-lived intangible assets		11,025
Inventories		7,445
Assets held for sale before impairments		157,870
Impairments of assets held for sale		(103,625)
Assets held for sale	$	54,245