Divestitures (Tables) - GF&F - Discontinued Operations, Held-for-sale

12 Months Ended

Jun. 30, 2018

Schedule of discontinued operations results

The operating results of GF&F classified as discontinued operations are summarized below (in thousands):

	June 30, 2018		June 30, 2017
Sales	$	726	$	4,782
Cost of sales		(615)		(3,619)
Gross profit		111		1,163
Selling, general and administrative		(108)		(671)
Income from discontinued operations, before income taxes		3		492
Income (loss) on sale of discontinued operations		(503)		—
Total income (loss) from discontinued operations, before income taxes		(500)		492
Income tax benefit on discontinued operations		224		(168)
Income (loss) from discontinued operations, net of tax	$	(276)	$	324

Schedule of assets and liabilities classified as held for sale or disposed

The following table presents the carrying amount as of June 30, 2017, of GF&F’s major classes of assets and liabilities held for sale in the consolidated balance sheets (in thousands):

	June 30, 2017
Current assets:
Accounts receivable, net	$	687
Inventories, net		717
Prepaid expenses and other current assets		48
Total current assets		1,452
Property and equipment, net		181
Goodwill		1,712
Total assets of discontinued operations	$	3,345
Current liabilities:
Accounts payable and accrued expenses	$	283
Total current liabilities		283
Other long-term liabilities		260
Total liabilities of discontinued operations	$	543