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Other Financial Data (Tables)

6 Months Ended

Dec. 31, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Select balance sheet information is presented in the following table.


	December 31, 2023			July 2, 2023
Receivables, net:
Customer receivables	$	66,537		$	79,174
Allowance for uncollectible accounts		(2,452	)		(1,362	)
Reserves for quality claims		(709	)		(682	)
Net customer receivables		63,376			77,130
Banker's acceptance notes		5,446			5,870
Other receivables		761			725
Total receivables, net	$	69,583		$	83,725

Inventories:
Raw materials	$	58,448		$	59,983
Supplies		11,871			11,787
Work in process		7,077			6,633
Finished goods		65,646			78,032
Gross inventories		143,042			156,435
Net realizable value adjustment		(7,366	)		(5,625	)
Total inventories	$	135,676		$	150,810

Other current assets:
Vendor deposits	$	4,608		$	3,863
Prepaid expenses and other		3,826			2,584
Value-added taxes receivable		2,893			3,398
Contract assets		769			549
Recovery of non-income taxes, net		194			1,933
Total other current assets	$	12,290		$	12,327

Property, plant and equipment, net:
Land	$	2,512		$	2,512
Land improvements		16,445			16,443
Buildings and improvements		168,231			167,589
Assets under finance leases		18,030			16,397
Machinery and equipment		659,553			656,431
Computers, software and office equipment		25,370			26,654
Transportation equipment		10,731			10,710
Construction in progress		3,635			10,003
Gross property, plant and equipment		904,507			906,739
Less: accumulated depreciation		(688,687	)		(682,768	)
Less: accumulated amortization – finance leases		(6,385	)		(5,450	)
Total property, plant and equipment, net	$	209,435		$	218,521

Other non-current assets:
Recovery of taxes	$	6,156		$	5,957
Investments in unconsolidated affiliates		3,101			2,997
Grantor trust		2,618			2,496
Intangible assets, net		736			1,210
Other		2,228			1,848
Total other non-current assets	$	14,839		$	14,508

Other current liabilities:
Payroll and fringe benefits	$	4,827		$	6,981
Severance (1)		2,351			—
Incentive compensation		1,856			298
Dissolution of joint venture		1,550			—
Utilities		1,476			1,634
Deferred revenue		1,293			1,441
Property taxes, interest and other		4,056			2,578
Total other current liabilities	$	17,409		$	12,932

Other long-term liabilities:
Nonqualified deferred compensation plan obligation	$	2,675		$	2,659
Uncertain tax positions		1,032			1,973
Other		426			468
Total other long-term liabilities	$	4,133		$	5,100

(1)

During the second quarter of fiscal 2024, UNIFI recorded $2,351 of severance expenses related to a cost reduction plan intended to lower operating expenses for both production and administrative activities, included in Restructuring costs on the Condensed Consolidated Statements of Operations and Comprehensive Loss. Most of the restructuring expenses incurred impact the Americas Segment and UNIFI does not anticipate any additional, material restructuring costs at this time.