Acquisition and Divestitures (Tables)

6 Months Ended

Jun. 30, 2015

Business Combinations, Discontinued Operations, and Disposal Groups [Abstract]

Schedule of Allocation of Purchase Price

The following table summarizes allocation of the purchase price to the fair value of assets acquired and liabilities assumed. The allocation of the purchase price in the table below is preliminary and subject to change based on the finalization of the purchase price.

	October 31, 2014
	(In thousands)
Assets acquired:
Cash and cash equivalents	$	1,552
Inventories	21,528
Other current assets	10,585
Property, plant and equipment	8,504
Trademarks	53,216
Intangible assets with finite lives	29,768
Liabilities assumed:
Accounts payable and other accruals	11,050
Other long-term liabilities	429
Total identifiable net assets	113,674
Goodwill	82,951
Total purchase price	$	196,625

The following table summarizes allocation of the purchase price to the fair value of assets acquired and liabilities assumed. The allocation of the purchase price in the table below is preliminary and subject to change based on the finalization of the purchase price.

	May 29, 2015
	(In thousands)
Assets acquired:
Cash and cash equivalents	$	1,530
Inventories	2,654
Other current assets	2,010
Property, plant and equipment	554
Trademarks	11,600
Intangible assets with finite lives	10,160
Liabilities assumed:
Accounts payable and other accruals	1,963
Other long-term liabilities	48
Total identifiable net assets	26,497
Goodwill	13,705
Total purchase price	$	40,202

The following table summarizes allocation of the purchase price to the fair value of assets acquired.

	January 2, 2014
	(In thousands)
Assets acquired:
Cash and cash equivalents	$	5,638
Inventories	22,299
Other current assets	54,260
Property, plant and equipment	147,390
Trademarks	150,700
Intangible assets with finite lives	104,900
Liabilities assumed:
Accounts payable and other accruals	58,328
Income taxes and deferred taxes, net	26,857
Obligations under capital leases	22,646
Total identifiable net assets	377,356
Goodwill	231,309
Total purchase price	$	608,665

Schedule of Liabilities Recorded

In addition to the impairment charge, we recorded a charge of $3.3 million related to lease liabilities, severance and related costs in connection with the Idaho dairy farm sale. Liabilities recorded and the changes therein for the six months ended June 30, 2014 were as follows:

	Accrued charges at December 31, 2013		Costs paid or otherwise settled			Reversal of prior expense			Accrued charges at June 30, 2014
	(In thousands)
Lease liability	$	2,674	$	(762	)	$	(351	)	$	1,561
Severance and related costs	632		(598		)	(55		)	(21		)
Total	$	3,306	$	(1,360	)	$	(406	)	$	1,540