Discontinued Operations

12 Months Ended

Jun. 30, 2015

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

Discontinued Operations

On January 30, 2014, we sold effectively all of the net operating assets of our candle manufacturing and marketing operations for $28 million in cash. Net proceeds from the sale, after post-closing adjustments and transaction costs, totaled $25.6 million. The transaction resulted in a pretax loss of $44.0 million and a tax benefit of $15.0 million, which were recorded in the year ended June 30, 2014. The financial results of these operations are reported as discontinued operations for all periods presented herein. The discontinued operations, previously included in our Glassware and Candles segment, had net sales of $89.4 million and $152.1 million for the years ended June 30, 2014 and 2013, respectively, and a pretax loss of $39.4 million, including the pretax loss on sale, for the year ended June 30, 2014, and pretax income of $8.2 million for the year ended June 30, 2013.