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Discontinued Operations
 6 Months Ended
Jul. 02, 2016
Discontinued Operations And Disposal Groups [Abstract]  
Disposal Groups Including Discontinued Operations Disclosure [Text Block]

3. Discontinued Operations

Opta Minerals Inc.

On February 11, 2016, Opta Minerals entered into a definitive acquisition agreement, pursuant to which Speyside agreed to acquire substantially all of the issued and outstanding shares of Opta Minerals. The acquisition agreement was approved by Opta Minerals’ Boards of Directors, which recommended that Opta Minerals’ shareholders approve the transaction. Also on February 12, 2016, the Company entered into a support agreement pursuant to which it irrevocably agreed to vote all of its Opta Minerals’ shares in favor of the transaction. The acquisition of Opta Minerals by Speyside was completed on April 6, 2016, following a vote of the shareholders of Opta Minerals in favor of the transaction on March 31, 2016.

Upon closing of the transaction, the Company received aggregate gross proceeds of $4.8 million (C$6.2 million), of which $3.2 million (C$4.2 million) was received in cash, and $1.5 million (C$2.0 million) was received in the form of a subordinated promissory note bearing interest at 2.0% per annum that will mature on October 6, 2018. In the first quarter of 2016, the Company recognized direct costs related to the sale of Opta Minerals of $0.8 million. The sale of Company’s equity interest in Opta Minerals was consistent with its objective of divesting its non-core assets in order to become a pure-play healthy and organic foods company. The Company does not expect to have any significant continuing involvement with Opta Minerals.

In the fourth quarter of 2015, the Company recognized a loss on the classification of Opta Minerals as a discontinued operation held for sale of $10.5 million, or $7.7 million net of non-controlling interest, to write down the carrying value of Opta Minerals’ net assets to fair value less cost to sell based on estimated net proceeds on sale of approximately $4.5 million as at January 2, 2016. In the first quarter of 2016, the Company recognized a $0.6 million gain on classification as held for sale, which reflected a $1.1 million decline in the carrying value of Opta Mineral’s net assets, partially offset by a $0.5 million reduction in the estimated net proceeds on sale. The Company has not recognized the results of operations or cash flows of Opta Minerals for the period from April 1, 2016 to the closing of the transaction on April 6, 2016, as these amounts were insignificant to the Company’s consolidated results of operations and cash flows for the quarter and two quarters ended July 2, 2016.

As at January 2, 2016, the net assets and liabilities of Opta Minerals were reported as held for sale on the consolidated balance sheet. The following table reconciles the major classes of assets and liabilities of Opta Minerals to the amounts reported as held for sale:

January 2, 2016
$
Cash and cash equivalents1,707
Accounts receivable14,676
Inventories25,869
Property, plant and equipment16,019
Intangible assets13,194
Other assets3,380
Loss recognized on classification as held for sale(10,515)
Total assets held for sale64,330
Bank indebtedness12,107
Accounts payable and accrued liabilities9,634
Long-term debt25,858
Other liabilities4,887
Total liabilities held for sale52,486

The following table reconciles the major components of the results of discontinued operations to the amounts reported in the consolidated statements of operations:

Quarter endedTwo quarters ended
July 2, 2016July 4, 2015July 2, 2016(1)July 4, 2015
$$$$
Revenues-29,67424,89659,131
Cost of goods sold(2)-(25,617)(22,133)(51,352)
Selling, general and administrative expenses-(3,142)(3,024)(6,115)
Intangible asset amortization-(502)-(1,007)
Other expense, net(3)-(1,680)(794)(1,610)
Foreign exchange gain (loss)-314(454)(449)
Interest expense-(1,952)(484)(2,848)
Loss before income taxes-(2,905)(1,993)(4,250)
Gain on classification as held for sale before income
taxes--560-
Total pre-tax loss from discontinued operations-(2,905)(1,433)(4,250)
Recovery of (provision for) income taxes-(1,153)599(889)
Loss from discontinued operations-(4,058)(834)(5,139)
Loss from discontinued operations attributable to
non-controlling interest-1,3112641,672
Loss from discontinued operations attributable to
SunOpta Inc.-(2,747)(570)(3,467)

(1) For the two quarters ended July 2, 2016, no depreciation or amortization was recorded on Opta Minerals’ long-lived assets as these assets were classified as held for sale.

(2) For the two quarters ended July 2, 2016, cost of goods sold includes a charge related to the write-down of inventory recorded by Opta Minerals of $0.8 million.

(3) For the two quarters ended July 2, 2016, other expense, net includes a charge related to the impairment of long-lived assets recorded by Opta Minerals of $0.4 million.