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Business Acquisition (Citrusource, LLC - Preliminary Estimated Fair Value of Assets Acquired and Liabilities Assumed) (Details) - USD ($)
$ in Thousands
Oct. 03, 2015
Aug. 11, 2015
Mar. 02, 2015
Jan. 03, 2015
Business Acquisition [Line Items]        
Goodwill $ 47,344     $ 29,082
Citrusource, LLC [Member]        
Business Acquisition [Line Items]        
Accounts receivables     $ 2,405  
Inventories     1,745  
Property, plant and equipment     164  
Customer Relationships Intangible Assets [1]     14,000  
Accounts payable and accrued liabilities     (1,666)  
Net Identifiable assets acquired     16,648  
Goodwill [2]     17,136  
Net assets acquired     $ 33,784  
Niagara Natural Fruit Snack Company Inc. [Member]        
Business Acquisition [Line Items]        
Current Assets   $ 2,220    
Property, plant and equipment   3,414    
Customer Relationships Intangible Assets [3]   2,459    
Accounts payable and accrued liabilities   (687)    
Net Identifiable assets acquired   7,406    
Goodwill [4]   1,636    
Net assets acquired   $ 9,042    
[1] The customer relationships intangible asset was recognized based on contracts in existence at the acquisition date between Citrusource and major U.S. retail customers. This intangible asset will be amortized over an estimated useful life of approximately 12 years. The estimated fair value of the intangible asset was determined using a discounted cash flow analysis (income approach), which applied a risk-adjusted discount rate of approximately 15.0%.
[2] Goodwill is calculated as the differ ence between the acquisition-date fair values of the consideration transferred and net assets acquired. The total amount of goodwill has been assigned to the Consumer Products operating segment and is expected to be fully deductible for tax purposes. The goodwill recognized is attributable to: ( i ) operating synergies expected to result from combining the operations of Citrusource with the Company’s vertically-integrated juice production and supply chain capabilities; and (ii) opportunities to leverage the business experience of Citrusource’s management team to grow the Company’s existing citrus beverage program.
[3] Intangible assets comprise customer relationships and non-competition arrangements, which will be amortized over an estimated weighted-average useful life of approximately 19 years.
[4] The total amount of goodwill has been assigned to the Consumer Products operating segment.