XML 27 R15.htm IDEA: XBRL DOCUMENT v3.8.0.1
Property, Plant And Equipment, Net
9 Months Ended
Mar. 31, 2018
Property, Plant and Equipment [Abstract]  
Property, Plant And Equipment, Net
PROPERTY, PLANT AND EQUIPMENT, NET

Property, plant and equipment, net consisted of the following:
 
March 31,
2018
 
June 30,
2017
Land
$
29,628

 
$
28,092

Buildings and improvements
81,306

 
83,648

Machinery and equipment
321,962

 
300,750

Computer hardware and software
53,168

 
50,773

Furniture and fixtures
18,266

 
15,613

Leasehold improvements
30,579

 
29,296

Construction in progress
27,586

 
11,134

 
562,495

 
519,306

Less: Accumulated depreciation and amortization
248,258

 
227,440

 
$
314,237

 
$
291,866



Depreciation and amortization expense for the three months ended March 31, 2018 and 2017 was $8,212 and $8,376, respectively. Such expense for the nine months ended March 31, 2018 and 2017 was $24,580 and $25,172, respectively.

In the second quarter of fiscal 2018, the Company determined that it was more likely than not that certain fixed assets at one of its manufacturing facilities in the United States would be sold or otherwise disposed of before the end of their estimated useful lives due to the Company’s decision to utilize third-party manufacturers. As such, the Company recorded a $3,676 non-cash impairment charge related to the closure of the facility in the nine months ended March 31, 2018 and included $4,064 as assets held for sale within “Prepaid expenses and other current assets” in its March 31, 2018 Consolidated Balance Sheet, respectively.
In the third quarter of fiscal 2018, the Company made the decision to consolidate its manufacturing of certain soup products in the United Kingdom. As such, the Company recorded a $2,557 non-cash impairment charge primarily related to the planned closure of a facility for the three months ended March 31, 2018. In connection with this planned closure, the Company expects to incur additional charges of up to approximately $6,300 over the next twelve months, consisting primarily of costs associated with the early termination of an existing operating lease and employee severance costs.

Additionally, in the third quarter of fiscal 2018, the Company discontinued certain slow moving SKUs in the United States as part of a product rationalization initiative. As a result, expected future cash flows are not expected to support the carrying value of certain machinery and equipment used to manufacture these products. As such, the Company recorded a $2,057 non-cash impairment charge to write down the value of these assets to fair value and included $686 as assets held for sale within “Prepaid expenses and other current assets” in its March 31, 2018 Consolidated Balance Sheet.