Assets Held for Sale

3 Months Ended

Sep. 30, 2020

Assets Held for Sale

Assets held for Sale

Note 19. Assets Held for Sale

In the first quarter of Fiscal 2019, the Company approved a plan to sell the Cody API business, which includes the manufacturing and distribution of active pharmaceutical ingredients for use in finished goods production. The Company was unable to sell the Cody API business as an ongoing operation and sold the equipment utilized by the Cody API business during Fiscal 2020. The Company ceased operations at Cody Labs, leased a portion of the real estate to a third party and intends to sell the remaining real estate. As of September 30, 2020, the remaining real estate associated with the Cody API business, totaling $2.7 million, was recorded in the assets held for sale caption in the Consolidated Balance Sheet.

The following table summarizes the financial results of the Cody API business for the three months ended September 30, 2020 and 2019:

	Three Months Ended
	September 30,
(In thousands)	2020		2019
Net sales	$	—	$	1,067
Pretax loss attributable to Cody API business		(502)		(4,417)

The pretax loss attributable to the Cody API business during the three months ended September 30, 2019 includes a full impairment of a $1.2 million ROU lease asset that was recorded upon adoption of ASU No. 2016-02 on July 1, 2019.