PROPERTY, PLANT AND EQUIPMENT, NET

9 Months Ended

Mar. 31, 2024

Property, Plant and Equipment [Abstract]

Property, plant and equipment, net consisted of the following:


	March 31, 2024		June 30, 2023
Land	$	11,395	$	11,453
Buildings and improvements	56,892		55,354
Machinery and equipment	320,953		335,912
Computer hardware and software	53,339		54,192
Furniture and fixtures	20,754		20,722
Leasehold improvements	39,093		49,394
Construction in progress	15,599		10,816
	518,025		537,843
Less: Accumulated depreciation	253,555		241,518
	$	264,470	$	296,325

Depreciation expense for the three months ended March 31, 2024 and 2023 was $8,232 and $9,649, respectively. Depreciation expense for the nine months ended March 31, 2024 and 2023 was $26,410 and $25,911, respectively.

As a result of the same factors triggering the interim impairment tests for the ParmCrisps® intangible assets, as discussed in Note 8, Goodwill and Other Intangible Assets, during the three months ended March 31, 2024, the Company completed interim impairment tests of the ParmCrisps® asset group. The Company determined that the carrying amount of the ParmCrisps® asset group exceeded its estimated fair value. During the three and nine months ended March 31, 2024, the Company recognized a non-cash impairment charge of $5,875 to reduce the carrying amount of ParmCrisps® machinery and equipment, to its estimated fair value. The fair value of machinery and equipment was determined based on an orderly liquidation value. Impairment charges were recorded within intangibles and long-lived asset impairment on the Consolidated Statements of Operations.

During the nine months ended March 31, 2024, the Company recognized a non-cash impairment charge of $20,666 related to an asset group primarily comprised of certain production assets in the North America reportable segment to reduce the carrying amount of such long-lived assets to their estimated fair value. Impairment charges were recorded within intangibles and long-lived asset impairment on the Consolidated Statement of Operations.

The Company recognized impairment charges of $244 and $584 during the three and nine months ended March 31, 2023, respectively, relating to a facility in the United States that was held for sale. During the nine months ended March 31, 2024, the Company completed the sale of such facility for total cash proceeds of $1,182, net of brokerage and other fees, resulting in a loss in the amount of $68, which was included as a component of other income, net on the Consolidated Statement of Operations.