PROPERTY, PLANT, AND EQUIPMENT

12 Months Ended

Jun. 30, 2024

Property, Plant and Equipment [Abstract]

6. PROPERTY, PLANT, AND EQUIPMENT

Property, plant, and equipment, net consisted of the following:


	June 30,			June 30,
	2024			2023
Land and improvements	$	7,587		$	10,456
Buildings and improvements		51,256			46,759
Machinery and equipment		32,858			40,632
Furniture and fixtures		5,658			5,284
Construction in progress		10,295			10,180
Total property, plant, and equipment		107,654			113,311
Less accumulated depreciation		(33,841	)		(35,390	)
Property, plant, and equipment — net		73,813		$	77,921

Depreciation expense for the years ended June 30, 2024, 2023, and 2022 was $9.4 million, $8.6 million, and $7.7 million, respectively.

Our Aviara segment experienced a material reduction in expected future orders near the end of the fourth quarter of fiscal 2024. This reduced outlook for future demand, and related cost inefficiencies of lower production levels, resulted in an impairment trigger related to the Aviara reporting unit.

Accordingly, we then performed an undiscounted cash flow analysis for the asset group related to the Aviara reporting unit that considered projected cash flows from continuing to operate the assets through their remaining estimated useful lives, a potential sale, and a potential exit of the business other than through a sale and concluded that the carrying value of the asset group was not recoverable. The fair value of the fixed assets, which primarily are comprised of land, building, machinery and equipment, was estimated using fair value techniques, resulting in an impairment charge of $6.9 million against the asset group’s fixed assets.

As a result of our impairment analyses, we recorded total impairment charges of $9.8 million related to the Aviara reporting unit’s property, plant, equipment, inventory, and other assets.