Assets Held for Sale	9 Months Ended
Mar. 31, 2023
Assets Held for Sale
Assets Held for Sale	Note 19. Assets Held for Sale State Road Facility In September 2022, the Company signed a listing and sale agreement to engage a broker to sell its State Road facility and certain equipment at the facility. The Company adjusted the assets to fair value less costs to sell, which resulted in a $4.7 million impairment charge. As of March 31, 2023, the assets identified for sale at the State Road facility, totaling $1.3 million, were recorded in the assets held for sale caption in the Consolidated Balance Sheets. Torresdale Facility During the second quarter of Fiscal 2023, the Company made the decision to exit its Torresdale facility in connection with the 2022 Restructuring Plan. The Company adjusted the assets to fair value, which resulted in a $6.0 million impairment charge. In March 2023, the Company signed an exclusive sale agreement to engage a broker to sell the facility and expects the sale to be completed in calendar year 2023. As of March 31, 2023, the assets identified for sale at the Torresdale facility, totaling $1.9 million, were recorded in the assets held for sale caption in the Consolidated Balance Sheets. Seymour, Indiana Facility In conjunction with the Restructuring Support Agreement, the Company, with the knowledge of its lenders, has begun to explore the sale of its Seymour, Indiana facility. The Company currently seeks to sell the facility and its contract manufacturing business to a pharmaceutical manufacturer that could benefit from the site’s exceptional history of FDA compliance, and with whom we would partner with to continue manufacturing our products at the site. The Company’s existing ANDAs and NDAs are not part of any potential sale. However, the KUPI other intangible assets, which consists of the Company’s contract manufacturing business associated with the Seymour, Indiana facility, is expected to be included in any potential sale of the facility. The Company determined that the above requires reclassification of the assets at the Seymour, Indiana facility to assets held for sale on our Consolidated Balance Sheets as of March 31, 2023. The Company evaluated the assets for impairment as the reclassification is considered a triggering event. As a result, the Company recorded an impairment charge of $72.5 million to adjust the assets to their expected fair value. As of March 31, 2023, the property, plant and equipment at the Seymour, Indiana facility and contract manufacturing intangible assets, totaling $35.0 million, were recorded in the assets held for sale caption in the Consolidated Balance Sheets. For further discussion of the Chapter 11 Cases and Restructuring Support Agreement, see Note 20 “Subsequent Events.”

Assets Held for Sale

9 Months Ended

Mar. 31, 2023

Note 19. Assets Held for Sale

State Road Facility

In September 2022, the Company signed a listing and sale agreement to engage a broker to sell its State Road facility and certain equipment at the facility. The Company adjusted the assets to fair value less costs to sell, which resulted in a $4.7 million impairment charge. As of March 31, 2023, the assets identified for sale at the State Road facility, totaling $1.3 million, were recorded in the assets held for sale caption in the Consolidated Balance Sheets.

Torresdale Facility

During the second quarter of Fiscal 2023, the Company made the decision to exit its Torresdale facility in connection with the 2022 Restructuring Plan. The Company adjusted the assets to fair value, which resulted in a $6.0 million impairment charge. In March 2023, the Company signed an exclusive sale agreement to engage a broker to sell the facility and expects the sale to be completed in calendar year 2023. As of March 31, 2023, the assets identified for sale at the Torresdale facility, totaling $1.9 million, were recorded in the assets held for sale caption in the Consolidated Balance Sheets.

Seymour, Indiana Facility

In conjunction with the Restructuring Support Agreement, the Company, with the knowledge of its lenders, has begun to explore the sale of its Seymour, Indiana facility. The Company currently seeks to sell the facility and its contract manufacturing business to a pharmaceutical manufacturer that could benefit from the site’s exceptional history of FDA compliance, and with whom we would partner with to continue manufacturing our products at the site. The Company’s existing ANDAs and NDAs are not part of any potential sale. However, the KUPI other intangible assets, which consists of the Company’s contract manufacturing business associated with the Seymour, Indiana facility, is expected to be included in any potential sale of the facility. The Company determined that the above requires reclassification of the assets at the Seymour, Indiana facility to assets held for sale on our Consolidated Balance Sheets as of March 31, 2023. The Company evaluated the assets for impairment as the reclassification is considered a triggering event. As a result, the Company recorded an impairment charge of $72.5 million to adjust the assets to their expected fair value. As of March 31, 2023, the property, plant and equipment at the Seymour, Indiana facility and contract manufacturing intangible assets, totaling $35.0 million, were recorded in the assets held for sale caption in the Consolidated Balance Sheets. For further discussion of the Chapter 11 Cases and Restructuring Support Agreement, see Note 20 “Subsequent Events.”