Discontinued Operations (Tables)

12 Months Ended

Jun. 30, 2023

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations

Assets related to the divested operations have been reclassified in the Consolidated Balance Sheet as of June 30, 2022, which are detailed in the table below:

(In thousands)	June 30, 2022
Current assets, discontinued operations:
Inventories	$	42,050
Non-current assets, discontinued operations:
Property, plant and equipment, net	95,943

The operating results of the divested operations, have been reclassified as discontinued operations in the Consolidated Statements of Operations for the years ended June 30, 2023, 2022 and 2021, as detailed in the table below:

	For the year ended June 30,
(In thousands)	2023		2022		2021
Net sales	$	160,977	$	154,410	$	135,939
Cost of goods sold	162,227		151,309		130,795
Gross (loss) profit	(1,250)		3,101		5,144
Selling expenses	6,578		7,819		7,220
General and administrative expenses	4,750		3,929		3,968
Loss on sale of assets	25,414		—		—
Operating expense	36,742		11,748		11,188
Loss from discontinued operations	(37,992)		(8,647)		(6,044)
Other (expense) income:
Interest expense	(9,008)		(5,507)		(6,061)
Other, net	1,124		42		334
Total other (expense)	(7,884)		(5,465)		(5,727)
Loss from discontinued operations before taxes	(45,876)		(14,112)		(11,771)
Income tax benefit	(734)		(425)		(333)
Loss from discontinued operations, net of income taxes	$	(45,142)	$	(13,687)	$	(11,438)

Applicable Consolidated Statements of Cash Flow information related to the divested operations for the years ended June 30, 2023, 2022 and 2021 are detailed in the table below:

	For the Years Ended June 30,
(In thousands)	2023	2022	2021
Cash Flows from Discontinued Operations
Net cash provided by (used in) operating activities	444	(13,192)	(1,935)
Net cash provided by (used in) investing activities	88,105	(1,539)	(5,540)

During the fiscal year ended June 30, 2023, the Company completed the sale of the following branch properties related to continuing operations (in thousands):

Name of Branch Property	Date Sold	Sales Price		Net Proceeds		Gain
Portland, Oregon	9/23/2022	$	1,990	$	1,880	$	1,770
San Diego, California	9/19/2022	7,574		7,169		6,425
Fresno, California	10/7/2022	760		716		648
Sacramento, California	2/15/2023	2,174		2,051		1,941

The following table presents net carrying value related to the major classes of assets that were classified as held for sale from continuing operations at June 30, 2023 and June 30, 2022 :

(In thousands)	June 30, 2023		June 30, 2022
Building and facilities	$	4,327	$	67
Land	3,443		965
Assets held for sale - continuing operations	$	7,770	$	1,032