DISCONTINUED OPERATIONS AND ASSETS HELD FOR SALE (Tables)

12 Months Ended

Jun. 30, 2020

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Discontinued Operations

The following table presents the major classes of Tilda’s results within “Net income (loss) from discontinued operations, net of tax” in our Consolidated Statements of Operations:

	Fiscal Year Ended June 30,
	2020		2019		2018
Net sales	$	30,399	$	197,862	$	192,099
Cost of sales	26,648		151,146		143,908
Gross (loss) profit	3,751		46,716		48,191
Selling, general and administrative expense	5,185		26,949		25,349
Amortization of acquired intangibles and other expense	1,172		2,189		3,536
Interest expense (1)	2,432		13,561		10,538
Translation loss (2)	95,120		—		—
Gain on sale of discontinued operations	(9,386)		—		—
Net (loss) income from discontinued operations before income taxes	(90,772)		4,017		8,768
Provision for income taxes (3)	12,909		535		1,084
Net (loss) income from discontinued operations, net of tax	$	(103,681)	$	3,482	$	7,684

(1) Interest expense was allocated to discontinued operations based on borrowings repaid with proceeds from the sale of Tilda.

(2) At the completion of the sale of Tilda, the Company reclassified $95,120 of related cumulative translation losses from Accumulated other comprehensive loss to discontinued operations, net of tax.

(3) Includes a tax provision related to the tax gain on the sale of Tilda of $13,960 for the twelve months ended June 30, 2020.

Assets and liabilities of discontinued operations associated with Tilda presented in the Consolidated Balance Sheet as of June 30, 2019 are included in the following table. There were no assets or liabilities from discontinued operations associated with Tilda as of June 30, 2020.

ASSETS	June 30, 2019
Cash and cash equivalents	$	8,509
Accounts receivable, less allowance for doubtful accounts	26,955
Inventories	65,546
Prepaid expenses and other current assets	9,038
Total current assets of discontinued operations(1)	110,048
Property, plant and equipment, net	40,516
Goodwill	133,098
Trademarks and other intangible assets, net	84,925
Other assets	628
Total noncurrent assets of discontinued operations(1)	259,167
Total assets of discontinued operations	$	369,215
LIABILITIES
Accounts payable	$	18,341
Accrued expenses and other current liabilities	4,675
Current portion of long-term debt	8,687
Total current liabilities of discontinued operations(1)	31,703
Deferred tax liabilities	17,153
Other noncurrent liabilities	208
Total noncurrent liabilities of discontinued operations(1)	17,361
Total liabilities of discontinued operations(1)	$	49,064

(1) Assets and liabilities from discontinued operations were classified as current and noncurrent at June 30, 2019 as they did not meet the held-for-sale criteria.

The following table presents the major classes of Hain Pure Protein’s line items constituting the “Net (loss) income from discontinued operations, net of tax” in our Consolidated Statements of Operations:

	Fiscal Year Ended June 30,
	2020		2019		2018
Net sales	$	—	$	408,109	$	509,475
Cost of sales	—		409,433		486,023
Gross (loss) profit	—		(1,324)		23,452
Asset impairments	—		109,252		78,464
Selling, general and administrative expense	—		16,384		18,743
Other expense	—		9,088		4,699
Loss on sale of discontinued operations	3,043		40,859		—
Net (loss) income from discontinued operations before income taxes	(3,043)		(176,907)		(78,454)
Benefit for income taxes	(684)		(43,538)		(5,720)
Net (loss) income from discontinued operations, net of tax	$	(2,359)	$	(133,369)	$	(72,734)