Document_And_Entity_Informatio
Document And Entity Information (USD $) | 12 Months Ended | ||
Jun. 30, 2014 | Aug. 20, 2014 | Dec. 31, 2013 | |
Document And Entity Information [Abstract] | ' | ' | ' |
Document Type | '10-K | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Period End Date | 30-Jun-14 | ' | ' |
Document Fiscal Year Focus | '2014 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Entity Registrant Name | 'HAIN CELESTIAL GROUP INC. | ' | ' |
Entity Central Index Key | '0000910406 | ' | ' |
Current Fiscal Year End Date | '--06-30 | ' | ' |
Entity Filer Category | 'Large Accelerated Filer | ' | ' |
Entity Well-known Seasoned Issuer | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Public Float | ' | ' | $4,312,490,000 |
Entity Common Stock, Shares Outstanding | ' | 50,355,438 | ' |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Jun. 30, 2014 | Jun. 30, 2013 | ||
In Thousands, unless otherwise specified | ||||
ASSETS | ' | ' | ||
Cash and cash equivalents | $123,751 | $41,263 | ||
Accounts receivable, less allowance for doubtful accounts | 287,915 | 233,641 | ||
Inventories | 320,251 | 250,175 | ||
Deferred income taxes | 23,780 | 17,716 | ||
Prepaid expenses and other current assets | 47,906 | 32,377 | ||
Total current assets | 803,603 | 575,172 | ||
Property, plant and equipment, net | 310,661 | 235,841 | ||
Goodwill | 1,134,368 | [1] | 876,106 | [1] |
Trademarks and other intangible assets, net | 651,482 | 498,235 | ||
Investments and joint ventures | 36,511 | 46,799 | ||
Other assets | 28,692 | 26,341 | ||
Total assets | 2,965,317 | 2,258,494 | ||
LIABILITIES AND STOCKHOLDERS' EQUITY | ' | ' | ||
Accounts payable | 239,162 | 184,996 | ||
Accrued expenses and other current liabilities | 84,906 | 76,657 | ||
Current portion of long-term debt | 100,096 | 12,477 | ||
Total current liabilities | 424,164 | 274,130 | ||
Long-term debt, less current portion | 767,827 | 653,464 | ||
Deferred income taxes | 148,439 | 114,395 | ||
Other noncurrent liabilities | 5,020 | 14,950 | ||
Total liabilities | 1,345,450 | 1,056,939 | ||
Stockholders' equity: | ' | ' | ||
Preferred stock - $.01 par value, authorized 5,000,000 shares, no shares issued | 0 | 0 | ||
Common stock - $.01 par value, authorized 100,000,000 shares | 516 | 490 | ||
Additional paid-in capital | 969,697 | 768,774 | ||
Retained earnings | 629,618 | 489,767 | ||
Accumulated other comprehensive income | 60,128 | -27,251 | ||
Total stockholders' equity including treasury stock | 1,659,959 | 1,231,780 | ||
Less: shares of treasury stock, at cost | -40,092 | -30,225 | ||
Total stockholders' equity | 1,619,867 | 1,201,555 | ||
Total liabilities and stockholders' equity | $2,965,317 | $2,258,494 | ||
[1] | The total carrying value of goodwill for all periods in the table above is reflected net of $42,029 of accumulated impairment charges recorded during fiscal 2009 which relate to the Company’s United Kingdom and Europe operating segments. |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Jun. 30, 2014 | Jun. 30, 2013 |
In Thousands, except Share data, unless otherwise specified | ||
Statement of Financial Position [Abstract] | ' | ' |
Accounts receivable, allowance for doubtful accounts | $1,586 | $2,564 |
Preferred stock, par value | $0.01 | $0.01 |
Preferred Stock, Shares Authorized | 5,000,000 | 5,000,000 |
Preferred stock, shares issued | 0 | 0 |
Common stock, par value | $0.01 | $0.01 |
Common stock, shares authorized | 100,000,000 | 100,000,000 |
Common stock, shares issued | 51,575,743 | 49,026,263 |
Treasury stock, shares | 1,453,041 | 1,336,036 |
Consolidated_Statements_Of_Inc
Consolidated Statements Of Income (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 |
Revenue, Net | $2,153,611 | $1,734,683 | $1,378,247 |
Cost of sales | 1,586,418 | 1,259,823 | 995,777 |
Gross profit | 567,193 | 474,860 | 382,470 |
Selling, general and administrative expenses | 311,288 | 274,750 | 229,566 |
Amortization of Intangible Assets | 15,600 | 12,192 | 8,029 |
Acquisition related expenses and restructuring charges | 12,568 | 13,606 | -6,653 |
Operating income | 227,737 | 174,312 | 151,528 |
Interest and other expenses, net | 20,143 | 20,490 | 17,300 |
Income before income taxes and equity in earnings of equity-method investees | 207,594 | 153,822 | 134,228 |
Provision for income taxes | 70,099 | 34,324 | 41,154 |
Income (Loss) from Equity Method Investments | -3,985 | -295 | -1,140 |
Income (Loss) from Continuing Operations Attributable to Parent | 141,480 | 119,793 | 94,214 |
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent | -1,629 | -5,137 | -14,989 |
Net income | $139,851 | $114,656 | $79,225 |
Net income per common share: | ' | ' | ' |
Income (Loss) from Continuing Operations, Per Basic Share | $2.89 | $2.59 | $2.12 |
Income (Loss) from Discontinued Operations, Net of Tax, Per Basic Share | ($0.03) | ($0.11) | ($0.33) |
Basic | $2.86 | $2.48 | $1.79 |
Income (Loss) from Continuing Operations, Per Diluted Share | $2.83 | $2.52 | $2.05 |
Income (Loss) from Discontinued Operations, Net of Tax, Per Diluted Share | ($0.03) | ($0.11) | ($0.32) |
Diluted | $2.80 | $2.41 | $1.73 |
Shares used in the calculation of net income per common share: | ' | ' | ' |
Basic | 48,875 | 46,176 | 44,360 |
Diluted | 50,003 | 47,572 | 45,847 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income Statement (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 |
Net Income (Loss) Attributable to Parent | $139,851 | $114,656 | $79,225 |
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, before Tax | 90,277 | -26,086 | -12,037 |
Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Tax | 348 | 959 | -1,536 |
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax | 90,625 | -25,127 | -13,573 |
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax | -1,734 | 705 | 1,127 |
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Tax | 330 | -176 | -285 |
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax | -1,404 | 529 | 842 |
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, before Tax | -3,058 | 4,512 | 335 |
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Tax | 1,216 | -1,782 | -131 |
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Net of Tax | -1,842 | 2,730 | 204 |
Other Comprehensive Income (Loss), before Tax | 85,485 | -20,869 | -10,575 |
Other Comprehensive Income (Loss), Tax | 1,894 | -999 | -1,952 |
Other Comprehensive Income (Loss), Net of Tax | 87,379 | -21,868 | -12,527 |
Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $227,230 | $92,788 | $66,698 |
Consolidated_Statement_Of_Stoc
Consolidated Statement Of Stockholders' Equity (USD $) | Total | Common Stock [Member] | Additional Paid-In Capital [Member] | Retained Earnings [Member] | Treasury Stock [Member] | Accumulated Other Comprehensive Income (Loss) [Member] |
In Thousands, except Share data | ||||||
Balance at Jun. 30, 2011 | $866,703 | $451 | $582,972 | $295,886 | ($19,750) | $7,144 |
Balance, shares at Jun. 30, 2011 | ' | 45,045,097 | ' | ' | 1,144,610 | ' |
Net income | 79,225 | ' | ' | 79,225 | ' | ' |
Other Comprehensive Income (Loss), Net of Tax | -12,527 | ' | ' | ' | ' | -12,527 |
Issuance of common stock pursuant to compensation plans | 16,135 | 11 | 16,124 | ' | ' | ' |
Issuance of common stock pursuant to compensation plans, shares | ' | 1,110,815 | ' | ' | ' | ' |
Stock based compensation income tax effects | 8,811 | ' | 8,811 | ' | ' | ' |
Shares withheld for payment of employee payroll taxes due on shares issued under stock based compensation plans, shares | ' | ' | ' | ' | 58,194 | ' |
Adjustments Related to Tax Withholding for Share-based Compensation | -2,035 | ' | ' | ' | -2,035 | ' |
Stock based compensation charge | 8,290 | ' | 8,290 | ' | ' | ' |
Balance at Jun. 30, 2012 | 964,602 | 462 | 616,197 | 375,111 | -21,785 | -5,383 |
Balance, shares at Jun. 30, 2012 | ' | 46,155,912 | ' | ' | 1,202,804 | ' |
Net income | 114,656 | ' | ' | 114,656 | ' | ' |
Other Comprehensive Income (Loss), Net of Tax | -21,868 | ' | ' | ' | ' | -21,868 |
Issuance of common stock pursuant to compensation plans | 19,943 | 11 | 19,932 | ' | ' | ' |
Issuance of common stock pursuant to compensation plans, shares | ' | 1,171,879 | ' | ' | ' | ' |
Stock based compensation income tax effects | 17,016 | ' | 17,016 | ' | ' | ' |
Shares withheld for payment of employee payroll taxes due on shares issued under stock based compensation plans, shares | ' | ' | ' | ' | 133,232 | ' |
Adjustments Related to Tax Withholding for Share-based Compensation | 8,440 | ' | ' | ' | -8,440 | ' |
Stock based compensation charge | 13,010 | ' | 13,010 | ' | ' | ' |
Stock Issued During Period, Value, Acquisitions | ' | 17 | 102,619 | ' | ' | ' |
Stock Issued During Period, Shares, Acquisitions | ' | 1,698,472 | ' | ' | ' | ' |
Balance at Jun. 30, 2013 | 1,201,555 | 490 | 768,774 | 489,767 | -30,225 | -27,251 |
Balance, shares at Jun. 30, 2013 | 49,026,263 | 49,026,263 | ' | ' | 1,336,036 | ' |
Net income | 139,851 | ' | ' | 139,851 | ' | ' |
Other Comprehensive Income (Loss), Net of Tax | 87,379 | ' | ' | ' | ' | 87,379 |
Issuance of common stock pursuant to compensation plans | 15,090 | 8 | 14,926 | ' | 156 | ' |
Issuance of common stock pursuant to compensation plans, shares | ' | 769,563 | ' | ' | -6,332 | ' |
Stock based compensation income tax effects | 14,046 | ' | 14,046 | ' | ' | ' |
Shares withheld for payment of employee payroll taxes due on shares issued under stock based compensation plans, shares | ' | ' | ' | ' | 123,337 | ' |
Adjustments Related to Tax Withholding for Share-based Compensation | -10,023 | ' | ' | ' | -10,023 | ' |
Stock based compensation charge | 12,448 | ' | 12,448 | ' | ' | ' |
Stock Issued During Period, Value, Acquisitions | 159,521 | 18 | 159,503 | ' | ' | ' |
Stock Issued During Period, Shares, Acquisitions | ' | 1,779,917 | ' | ' | ' | ' |
Balance at Jun. 30, 2014 | $1,619,867 | $516 | $969,697 | $629,618 | ($40,092) | $60,128 |
Balance, shares at Jun. 30, 2014 | 51,575,743 | 51,575,743 | ' | ' | 1,453,041 | ' |
Consolidated_Statements_Of_Cas
Consolidated Statements Of Cash Flows (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 |
CASH FLOWS PROVIDED BY (USED IN) OPERATING ACTIVITIES | ' | ' | ' |
Net income | $139,851 | $114,656 | $79,225 |
Adjustments to reconcile net income to net cash provided by (used in) operating activities: | ' | ' | ' |
Depreciation and amortization | 48,040 | 40,095 | 30,459 |
Other Noncash Income Tax Expense | -1,350 | -7,403 | 1,642 |
Equity in net (income) loss of equity-method investees | -3,985 | -295 | -1,140 |
Stock based compensation | 12,448 | 13,010 | 8,290 |
Tax benefit from stock based compensation | -1,339 | -1,037 | -1,681 |
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability | -3,026 | 2,720 | -15,130 |
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax | 1,629 | 4,200 | 0 |
Impairment of Long-Lived Assets to be Disposed of | 0 | 0 | 16,001 |
Other non-cash items, net | 1,175 | 53 | 599 |
Increase (decrease) in cash attributable to changes in operating assets and liabilities, net of amounts applicable to acquisitions: | ' | ' | ' |
Accounts receivable | 967 | -47,751 | -4,316 |
Inventories | -22,775 | -28,342 | -5,597 |
Other current assets | -7,948 | -8,145 | -1,556 |
Other assets | -5,540 | -10,082 | -5,200 |
Accounts payable and accrued expenses | 18,980 | 45,764 | 12,489 |
Acquisition-related contingent consideration | 0 | 0 | 850 |
Income taxes | 4,963 | 1,445 | 5,363 |
Net cash provided by operating activities | 184,768 | 120,962 | 121,960 |
CASH FLOWS PROVIDED BY (USED IN) INVESTING ACTIVITIES | ' | ' | ' |
Acquisitions, net of cash acquired | -177,290 | -350,426 | -257,264 |
Proceeds from Divestiture of Interest in Consolidated Subsidiaries | 0 | 13,012 | 0 |
Purchases of property and equipment | -41,611 | -72,877 | -20,427 |
Proceeds from disposals of property and equipment | 0 | 1,045 | 93 |
Proceeds from Sale of Available-for-sale Securities, Equity | 4,377 | 0 | 0 |
Repayments from equity-method investees | 8,288 | 3,110 | 6,934 |
Net cash used in investing activities | -206,236 | -406,136 | -270,664 |
CASH FLOWS PROVIDED BY (USED IN) FINANCING ACTIVITIES | ' | ' | ' |
Proceeds from exercises of stock options, net of related expenses | 7,320 | 12,763 | 14,179 |
Borrowings under bank revolving credit facility | 108,326 | 263,458 | 160,989 |
Repayments of other long-term debt, net | -7,228 | 12,377 | -460 |
Acquisition-related contingent consideration | -11,800 | 0 | -32,380 |
Excess tax benefits from stock based compensation | 14,226 | 15,979 | 7,130 |
Shares withheld for payment of employee payroll taxes | -10,023 | -8,440 | -2,035 |
Net cash provided by financing activities | 100,821 | 296,137 | 147,423 |
Effect of exchange rate changes on cash | 3,135 | 405 | 3,659 |
Net increase (decrease) in cash and cash equivalents | 82,488 | 11,368 | 2,378 |
Cash and cash equivalents at beginning of period | 41,263 | 29,895 | 27,517 |
Cash and cash equivalents at end of period | $123,751 | $41,263 | $29,895 |
Business
Business | 12 Months Ended |
Jun. 30, 2014 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' |
Nature of Operations [Text Block] | ' |
BUSINESS | |
The Hain Celestial Group, Inc., a Delaware corporation, and its subsidiaries (collectively, the “Company,” and herein referred to as “we,” “us,” and “our”) manufacture, market, distribute and sell organic and natural products under brand names which are sold as “better-for-you” products. We are a leader in many organic and natural products categories, with many recognized brands. Our brand names are well recognized in the various market categories they serve and include Almond Dream®, Arrowhead Mills®, BluePrint®, Celestial Seasonings®, Cully & Sully®, Danival®, DeBoles®, Earth’s Best®, Ella’s Kitchen®, Europe’s Best®, Farmhouse Fare®, Frank Cooper’s®, Gale’s®, Garden of Eatin’®, GG UniqueFiberTM, Hartley’s®, Health Valley®, Imagine®, Johnson’s Juice Co.®, Lima®, Linda McCartney® (under license), MaraNatha®, New Covent Garden Soup Co.®, Rice Dream®, Robertson’s®, Rudi’s Organic Bakery®, Rudi’s Gluten-Free Bakery, Sensible Portions®, Spectrum®, Spectrum Essentials®, Soy Dream®, Sun-Pat®, SunSpire®, Terra®, The Greek Gods®, Tilda®, WestSoy® and Yves Veggie Cuisine®. Our personal care products are marketed under the Alba Botanica®, Avalon Organics®, Earth’s Best®, JASON® and Queen Helene® brands. | |
We had a minority investment in Hain Pure Protein Corporation (“HPP” or “Hain Pure Protein”) through June 30, 2014. HPP processes, markets and distributes antibiotic-free and organic poultry products. On July 17, 2014, we acquired the remaining share of HPP that we did not previously own at which point HPP became our wholly-owned subsidiary (see Note 19). We also have an investment in a joint venture in Hong Kong with Hutchison China Meditech Ltd. (“Chi-Med”), a majority owned subsidiary of Hutchison Whampoa Limited, a company listed on the Alternative Investment Market, a sub-market of the London Stock Exchange, to market and distribute certain of the Company’s brands in China and other markets. | |
Our operations are managed in four operating segments: United States, United Kingdom, Canada and Europe. Refer to Note 18 for additional information and selected financial information for our reportable segments. |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 12 Months Ended | ||
Jun. 30, 2014 | |||
Accounting Policies [Abstract] | ' | ||
Basis of Presentation and Significant Accounting Policies [Text Block] | ' | ||
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |||
All amounts in our consolidated financial statements, footnotes and tables have been rounded to the nearest thousand, except share and per share amounts, unless otherwise indicated. | |||
Basis of Presentation | |||
Our consolidated financial statements include the accounts of the Company and its wholly-owned and majority-owned subsidiaries. Intercompany accounts and transactions have been eliminated in consolidation. Investments in affiliated companies in which the company exercises significant influence, but which it does not control, are accounted for in the accompanying consolidated financial statements under the equity method of accounting. As such, consolidated net income includes the Company’s equity in the current earnings or losses of such companies. | |||
Use of Estimates | |||
The financial statements are prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”). The accounting principles we use require us to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and amounts of income and expenses during the reporting periods presented. Changes in facts and circumstances may result in revised estimates, which are recorded in the period when they become known. We believe in the quality and reasonableness of our critical accounting estimates; however, materially different amounts might be reported under different conditions or using assumptions different from those that we have consistently applied. | |||
Cash and Cash Equivalents | |||
The Company considers cash and cash equivalents to include cash in banks, commercial paper and deposits with financial institutions that can be liquidated without prior notice or penalty. The Company considers all highly liquid investments with an original maturity of three months or less to be cash equivalents. | |||
Valuation of Accounts and Chargebacks Receivable and Concentration of Credit Risk | |||
We perform ongoing credit evaluations on existing and new customers daily. We apply reserves for delinquent or uncollectible trade receivables based on a specific identification methodology and also apply an additional reserve based on the experience we have with our trade receivables aging categories. Credit losses have been within our expectations in recent years. While one of our customers represented approximately 10% and 13% of our trade receivables balances as of June 30, 2014 and 2013, respectively, and a second customer represented approximately 10% and 8% of our trade receivable balances as of June 30, 2014 and 2013, respectively, we believe there is no significant or unusual credit exposure at this time. | |||
Based on cash collection history and other statistical analysis, we estimate the amount of unauthorized deductions our customers have taken that we expect to be repaid in the near future and record a chargeback receivable. Our estimate of this receivable balance ($4,883 at June 30, 2014 and $3,750 at June 30, 2013) could be different had we used different assumptions and judgments. | |||
During the fiscal years ended June 30, 2014, 2013 and 2012, sales to one customer and its affiliates approximated 13%, 15% and 18% of consolidated net sales, respectively. Sales to a second customer and its affiliates approximated 11% and 10% during the fiscal years ended June 30, 2014 and 2013, but was less than 10% during fiscal year ended June 30, 2012. | |||
Inventory | |||
Our inventory is valued at the lower of cost or market, utilizing the first-in, first-out method. We provide write-downs for finished goods expected to become non-saleable due to age and specifically identify and provide for slow moving or obsolete raw ingredients and packaging. | |||
Property, Plant and Equipment | |||
Our property, plant and equipment is carried at cost and depreciated or amortized on a straight-line basis over the estimated useful lives or lease life, whichever is shorter. We believe the asset lives assigned to our property, plant and equipment are within ranges generally used in consumer products manufacturing and distribution businesses. Our manufacturing plants and distribution centers, and their related assets, are reviewed when impairment indicators are present by analyzing underlying cash flow projections. At this time, we believe no impairment of the carrying value of such assets exists. Ordinary repairs and maintenance are expensed as incurred. We utilize the following ranges of asset lives: | |||
Buildings and improvements | 10-40 years | ||
Machinery and equipment | 3-20 years | ||
Furniture and fixtures | 3-15 years | ||
Leasehold improvements are amortized over the shorter of the respective initial lease term or the estimated useful life of the assets, and generally range from 3 to 15 years. | |||
Goodwill and Intangible Assets | |||
Goodwill and other intangible assets with indefinite useful lives are not amortized, but instead tested for impairment at least annually at the reporting unit level (for goodwill) or separate unit of accounting (for intangible assets with indefinite useful lives). The Company performs its test for impairment at the beginning of the fourth quarter of its fiscal year, and earlier if an event occurs or circumstances change that indicates impairment might exist. The Company has the option to first assess qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit or indefinite-lived intangible asset is less than its carrying amount. Otherwise, a two-step impairment test is performed. The impairment test for goodwill requires the Company to compare the fair value of a reporting unit to its carrying value, including goodwill. The Company uses a blended analysis of a discounted cash flow model and a market valuation approach to determine the fair values of its reporting units. If the carrying value of a reporting unit exceeds its fair value, the Company would then compare the carrying value of the goodwill to its implied fair value in order to determine the amount of the impairment, if any. | |||
Revenue Recognition | |||
Sales are recognized when the earnings process is complete, which occurs when products are shipped in accordance with terms of agreements, title and risk of loss transfer to customers, collection is probable and pricing is fixed or determinable. Shipping and handling costs billed to customers are included in reported sales. Allowances for cash discounts are recorded in the period in which the related sale is recognized. | |||
Sales and Promotion Incentives | |||
Sales incentives and promotions include price discounts, slotting fees and coupons and are used to support sales of the Company’s products. These incentives are deducted from our gross sales to determine reported net sales. The recognition of expense for these programs involves the use of judgment related to performance and redemption estimates. Differences between estimated expense and actual redemptions are normally insignificant and recognized as a change in estimate in the period such change occurs. | |||
Trade Promotions. Accruals for trade promotions are recorded primarily at the time a product is sold to the customer based on expected levels of performance. Settlement of these liabilities typically occurs in subsequent periods primarily through an authorization process for deductions taken by a customer from amounts otherwise due to the Company. | |||
Coupon Redemption. Coupon redemption costs are accrued in the period in which the coupons are offered, based on estimates of redemption rates that are developed by management. Management estimates are based on recommendations from independent coupon redemption clearing-houses as well as on historical information. Should actual redemption rates vary from amounts estimated, adjustments to accruals may be required. | |||
Cost of Sales | |||
Included in cost of sales are the cost of products sold, including the costs of raw materials and labor and overhead required to produce the products, warehousing, distribution, supply chain costs, as well as costs associated with shipping and handling of our inventory. | |||
Foreign Currency | |||
The financial position and operating results of foreign operations are consolidated using the local currency as the functional currency. Financial statements of foreign subsidiaries are translated into U.S. dollars using current rates for balance sheet accounts and average rates during each reporting period for revenues, costs and expenses. Net translation gains or losses resulting from the translation of foreign financial statements and the effect of exchange rate changes on intercompany transactions of a long-term investment nature are accumulated and credited or charged directly to other comprehensive income, which is a separate component of stockholders’ equity. | |||
The Company also recognizes gains and losses on transactions that are denominated in a currency other than the respective entity’s functional currency. Foreign currency transaction gains and losses also include amounts realized on the settlement of intercompany loans with foreign subsidiaries that are of a short-term investment nature. | |||
Selling, General and Administrative Expenses | |||
Included in selling, general and administrative expenses are advertising, promotion costs not paid directly to the Company’s customers, salary and related benefit costs of the Company’s employees in the finance, human resources, information technology, legal, sales and marketing functions, facility related costs of the Company’s administrative functions, and costs paid to consultants and third party providers for related services. | |||
Research and Development Costs | |||
Research and development costs are expensed as incurred and are included in selling, general and administrative expenses in the accompanying consolidated financial statements. Research and development costs amounted to $10,049 in fiscal 2014, $7,516 in fiscal 2013 and $3,906 in fiscal 2012. Our research and development expenditures do not include the expenditures on such activities undertaken by co-packers and suppliers who develop numerous products based on ideas we generate and on their own initiative with the expectation that we will accept their new product ideas and market them under our brands. These efforts by co-packers and suppliers have resulted in a substantial number of our new product introductions. We are unable to estimate the amount of expenditures made by co-packers and suppliers on research and development; however, we believe such activities and expenditures are important to our continuing ability to introduce new products. | |||
Advertising Costs | |||
Advertising costs, which are included in selling, general and administrative expenses, amounted to $15,463 in fiscal 2014, $14,030 in fiscal 2013 and $9,054 in fiscal 2012. Such costs are expensed as incurred. | |||
Income Taxes | |||
We follow the liability method of accounting for income taxes. Under the liability method, deferred taxes are determined based on the differences between the financial statement and tax bases of assets and liabilities at enacted rates in effect in the years in which the differences are expected to reverse. Valuation allowances are provided for deferred tax assets to the extent it is more likely than not that deferred tax assets will not be recoverable against future taxable income. | |||
We recognize liabilities for uncertain tax positions based on a two-step process prescribed by the authoritative guidance. The first step requires us to determine if the weight of available evidence indicates that the tax position has met the threshold for recognition; therefore, we must evaluate whether it is more likely than not that the position will be sustained on audit, including resolution of any related appeals or litigation processes. The second step requires us to measure the tax benefit of the tax position taken, or expected to be taken, in an income tax return as the largest amount that is more than 50% likely of being realized upon ultimate settlement. We reevaluate the uncertain tax positions each quarter based on factors including, but not limited to, changes in facts or circumstances, changes in tax law, effectively settled issues under audit, and new audit activity. Depending on the jurisdiction, such a change in recognition or measurement may result in the recognition of a tax benefit or an additional charge to the tax provision in the period. We record interest and penalties in our provision for income taxes. | |||
Fair Value of Financial Instruments | |||
The fair value of financial instruments is the amount at which the instrument could be exchanged in a current transaction between willing parties. At June 30, 2014 and 2013, we had $31,902 and $6,200 invested in corporate money market securities, including commercial paper, repurchase agreements, variable rate instruments and bank instruments. These securities are classified as cash equivalents as their maturities when purchased are less than three months. At June 30, 2014 and 2013, the carrying values of financial instruments such as accounts receivable, accounts payable, accrued expenses and other current liabilities and borrowings under our credit facility approximate fair value based upon either the short maturities or variable interest rates of these instruments. | |||
Derivative Instruments | |||
The Company utilizes derivative instruments, principally foreign exchange forward contracts, to manage certain exposures to changes in foreign exchange rates. The Company’s contracts are hedges for transactions with notional balances and periods consistent with the related exposures and do not constitute investments independent of these exposures. These contracts, which are designated and documented as cash flow hedges, qualify for hedge accounting treatment. Exposure to counterparty credit risk is considered low because these agreements have been entered into with high quality financial institutions. | |||
All derivative instruments are recognized on the balance sheet at fair value. The effective portion of changes in the fair value of derivative instruments that qualify for hedge accounting treatment are recognized in stockholders’ equity until the hedged item is recognized in earnings. Changes in the fair value of derivatives that do not qualify for hedge treatment, as well as the ineffective portion of any hedges, are recognized currently in earnings. | |||
Stock Based Compensation | |||
The Company has employee and director stock based compensation plans. The fair value of employee stock options is determined on the date of grant using the Black-Scholes option pricing model. The Company has used historical volatility in its estimate of expected volatility. The expected life represents the period of time (in years) for which the options granted are expected to be outstanding. The risk-free interest rate is based on the U.S. Treasury yield curve. Restricted stock awards are valued at the market value of our common stock on the date of grant. | |||
The fair value of stock based compensation awards is recognized in expense over the vesting period of the award, using the straight-line method. For restricted stock awards which include performance criteria, compensation expense is recorded when the achievement of the performance criteria is probable and is recognized over the performance and vesting service periods. Compensation expense is recognized for only that portion of stock based awards that are expected to vest. Therefore, we apply estimated forfeiture rates that are derived from historical employee termination activity to reduce the amount of compensation expense recognized. If the actual forfeitures differ from the estimate, additional adjustments to compensation expense may be required in future periods. | |||
The Company receives an income tax deduction in certain tax jurisdictions for restricted stock grants when they vest and for stock options exercised by employees equal to the excess of the market value of our common stock on the date of exercise over the option price. Excess tax benefits (tax benefits resulting from tax deductions in excess of compensation cost recognized) are classified as a cash flow provided by financing activities in the accompanying Consolidated Statements of Cash Flows. | |||
Valuation of Long-Lived Assets | |||
We periodically evaluate the carrying value of long-lived assets, other than goodwill and intangible assets with indefinite lives, held and used in the business when events and circumstances occur indicating that the carrying amount of the asset may not be recoverable. An impairment test is performed when the estimated undiscounted cash flows associated with the asset or group of assets is less than their carrying value. Once such impairment test is performed, a loss is recognized based on the amount, if any, by which the carrying value exceeds the fair value for assets to be held and used. | |||
Deferred Financing Costs | |||
Costs associated with obtaining debt financing are capitalized and amortized over the related term of the applicable debt instruments on a straight-line basis, which approximates the effective interest method. | |||
Newly Adopted Accounting Pronouncements | |||
In February 2013, the Financial Accounting Standards Board issued Accounting Standards Update (“ASU”) No. 2013-02, Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income, which requires an entity to provide information about the amounts reclassified out of accumulated other comprehensive income by component. We adopted ASU No. 2013-02 on a prospective basis at the beginning of our 2014 fiscal year. Refer to Note 12 for disclosures required under this standard. | |||
Recently Issued Accounting Pronouncements Not Yet Effective | |||
In April 2014, the FASB issued ASU No. 2014-08, Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity. ASU No. 2014-08 amends the requirements for reporting and disclosing discontinued operations. Under ASU No. 2014-08, a disposal of a component of an entity or a group of components of an entity is required to be reported in discontinued operations if the disposal represents a strategic shift that has (or will have) a major effect on the entity’s operations and financial results. ASU No. 2014-08 is effective for interim and annual periods beginning after December 15, 2014, with early adoption permitted and is to be applied prospectively. The Company has elected to early adopt the provisions of ASU No. 2014-08 at the beginning of fiscal 2015. The adoption of the new guidance may impact the reporting and disclosure of any future disposals we complete. | |||
In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606). ASU No. 2014-09 supersedes the revenue recognition requirements in Topic 605, Revenue Recognition, and most industry-specific guidance throughout the Industry Topics of the Codification. Additionally, ASU No. 2014-09 supersedes some cost guidance included in Subtopic 605-35, Revenue Recognition-Construction-Type and Production-Type Contracts. Under ASU No. 2014-09, an entity should recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. ASU No. 2014-09 also requires additional disclosure about the nature, amount, timing, and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to obtain or fulfill a contract. ASU No. 2014-09 is effective for interim and annual periods beginning after December 15, 2016, with early application prohibited. ASU No. 2014-09 allows for either full retrospective or modified retrospective adoption. The Company is evaluating the transition method that will be elected and the potential effects of adopting the provisions of ASU No. 2014-09. |
Earnings_Per_Share
Earnings Per Share | 12 Months Ended | |||||||||||
Jun. 30, 2014 | ||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||
Earnings Per Share | ' | |||||||||||
EARNINGS PER SHARE | ||||||||||||
The following table sets forth the computation of basic and diluted earnings per share: | ||||||||||||
Fiscal Year ended June 30, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Numerator: | ||||||||||||
Income from continuing operations | $ | 141,480 | $ | 119,793 | $ | 94,214 | ||||||
(Loss) from discontinued operations, net of tax | (1,629 | ) | (5,137 | ) | (14,989 | ) | ||||||
Net income | $ | 139,851 | $ | 114,656 | $ | 79,225 | ||||||
Denominator (in thousands): | ||||||||||||
Denominator for basic earnings per share - weighted average shares outstanding during the period | 48,875 | 46,176 | 44,360 | |||||||||
Effect of dilutive stock options, unvested restricted stock and unvested restricted share units | 1,128 | 1,396 | 1,487 | |||||||||
Denominator for diluted earnings per share - adjusted weighted average shares and assumed conversions | 50,003 | 47,572 | 45,847 | |||||||||
Basic net income/(loss) per common share: | ||||||||||||
From continuing operations | $ | 2.89 | $ | 2.59 | $ | 2.12 | ||||||
From discontinued operations | (0.03 | ) | (0.11 | ) | (0.33 | ) | ||||||
Net income per common share - basic | $ | 2.86 | $ | 2.48 | $ | 1.79 | ||||||
Diluted net income/(loss) per common share: | ||||||||||||
From continuing operations | $ | 2.83 | $ | 2.52 | $ | 2.05 | ||||||
From discontinued operations | (0.03 | ) | (0.11 | ) | (0.32 | ) | ||||||
Net income per common share - diluted | $ | 2.8 | $ | 2.41 | $ | 1.73 | ||||||
Basic earnings per share excludes the dilutive effects of stock options, unvested restricted stock and unvested restricted share units. Diluted earnings per share includes the dilutive effects of common stock equivalents such as stock options and unvested restricted stock awards. The Company used income from continuing operations as the control number in determining whether potential common shares were dilutive or anti-dilutive. The same number of potential common shares used in computing the diluted per share amount from continuing operations was also used in computing the diluted per share amounts from discontinued operations even if those amounts were anti-dilutive. | ||||||||||||
Restricted stock awards totaling 135,905 and 300,000 were excluded from our diluted earnings per share calculations for the fiscal years ended June 30, 2014 and 2013 as such awards are contingently issuable based on market or performance conditions and such conditions had not been achieved during the respective periods. There were 29,000 anti-dilutive stock options and restricted stock awards for the fiscal year ended June 30, 2012. |
Acquisitions_and_Disposals
Acquisitions and Disposals | 12 Months Ended | |||||||||||||||
Jun. 30, 2014 | ||||||||||||||||
Business Combinations [Abstract] | ' | |||||||||||||||
Business Combination Disclosure [Text Block] | ' | |||||||||||||||
ACQUISITIONS | ||||||||||||||||
We account for acquisitions using the acquisition method of accounting. The results of operations of the acquisitions have been included in our consolidated results from their respective dates of acquisition. We allocate the purchase price of each acquisition to the tangible assets, liabilities, and identifiable intangible assets acquired based on their estimated fair values. Acquisitions may include contingent consideration, the fair value of which is estimated on the acquisition date as the present value of the expected contingent payments, determined using weighted probabilities of possible payments. The fair values assigned to identifiable intangible assets acquired were determined primarily by using an income approach which was based on assumptions and estimates made by management. Significant assumptions utilized in the income approach were based on company specific information and projections which are not observable in the market and are thus considered Level 3 measurements as defined by authoritative guidance. The excess of the purchase price over the fair value of the identified assets and liabilities has been recorded as goodwill. | ||||||||||||||||
The costs related to all acquisitions have been expensed as incurred and are included in “Acquisition related expenses (credits), restructuring and integration charges, net” in the Consolidated Statements of Income. Acquisition-related costs of $7,238, $5,461, and $5,921 were expensed in the fiscal years ended June 30, 2014, 2013, and 2012, respectively. The expenses incurred during fiscal 2014 primarily relate to professional fees and stamp duty tax associated with our acquisition of Tilda and during fiscal 2013 primarily relate to professional fees associated with the acquisition of the UK Ambient Grocery Brands and BluePrint (as discussed below). | ||||||||||||||||
Fiscal 2014 | ||||||||||||||||
On April 28, 2014, the Company acquired Charter Baking Company, Inc. and its subsidiary Rudi’s Organic Bakery, Inc. (“Rudi’s”), a leading organic and gluten-free company with facilities in Boulder, Colorado. Under the Rudi’s Organic Bakery® and Rudi’s Gluten-Free Bakery brands, Rudi’s offers a range of approximately 60 products including USDA certified organic breads, buns, bagels, tortillas, wraps and soft pretzels and various gluten-free products including breads, buns, pizza crusts, tortillas, snack bars and stuffing in the United States and Canada. Consideration in the transaction consisted of cash totaling $50,649 (which is net of cash acquired and remains subject to a working capital adjustment) and 133,744 shares of the Company’s common stock valued at $11,168. The cash consideration paid was funded with borrowings drawn under the Company’s existing revolving credit facility. The amounts of net sales and income before income taxes from continuing operations attributable to the Rudi’s acquisition and included in our consolidated results were not material in the fiscal year ended June 30, 2014. | ||||||||||||||||
On January 13, 2014, we acquired Tilda Limited (“Tilda”), a leading premium 100% branded Basmati and specialty rice products company. Tilda offers a range of over 60 dry rice and ready-to-heat branded products under the brand names Tilda®, Akash® and Abu Shmagh® to consumers in over 40 countries, principally in the United Kingdom, the Middle East and North Africa, Continental Europe, North America and India. On June 18, 2014, we also completed the acquisition of certain assets of Tilda Riceland Limited in India. Consideration in these transactions consisted of cash totaling $126,340 (which is net of cash acquired and based on the exchange rates in effect at the respective transaction dates), which remain subject to certain adjustments, 1,646,173 shares of the Company’s common stock valued at $148,353 and deferred consideration (the “Vendor Loan Note”) for £20,000 ($32,958 at the transaction date exchange rate) issued by the Company which is payable within one year following completion of the acquisition, with a portion being payable in Company shares at the Company’s option. The cash consideration paid was funded with borrowings drawn under the Company’s existing revolving credit facility. The net sales and income before taxes from continuing operations attributable to Tilda for the fiscal year ended June 30, 2014 were $103,884 and $14,417, respectively. | ||||||||||||||||
The following table summarizes the components of the preliminary purchase price allocations for the fiscal 2014 acquisitions: | ||||||||||||||||
Tilda | Rudi’s | Total | ||||||||||||||
Purchase price: | ||||||||||||||||
Cash paid | $ | 126,340 | $ | 50,649 | $ | 176,989 | ||||||||||
Equity issued | 148,353 | 11,168 | 159,521 | |||||||||||||
Vendor loan note | 32,958 | — | 32,958 | |||||||||||||
$ | 307,651 | $ | 61,817 | $ | 369,468 | |||||||||||
Allocation: | ||||||||||||||||
Current assets | $ | 86,828 | $ | 7,399 | $ | 94,227 | ||||||||||
Property, plant and equipment | 39,898 | 3,774 | 43,672 | |||||||||||||
Other Assets | — | 659 | 659 | |||||||||||||
Identifiable intangible assets | 124,549 | 33,130 | 157,679 | |||||||||||||
Assumed liabilities | (92,971 | ) | (6,332 | ) | (99,303 | ) | ||||||||||
Deferred income taxes | (25,936 | ) | (37 | ) | (25,973 | ) | ||||||||||
Goodwill | 175,283 | 23,224 | 198,507 | |||||||||||||
$ | 307,651 | $ | 61,817 | $ | 369,468 | |||||||||||
The purchase price allocations are based upon preliminary valuations, and the Company’s estimates and assumptions are subject to change within the measurement period as valuations are finalized. Any change in the estimated fair value of the net assets, prior to the finalization of the more detailed analyses, but not to exceed one year from the dates of acquisition, will change the amount of the purchase price allocations. | ||||||||||||||||
The fair values assigned to identifiable intangible assets acquired were based on assumptions and estimates made by management. Preliminary identifiable intangible assets acquired consist principally of customer relationships valued at $41,692 with a weighted average estimated useful life of 13.2 years and trade names valued at $115,987 with indefinite lives. The goodwill represents the future economic benefits expected to arise that could not be individually identified and separately recognized, including use of our existing infrastructure to expand sales of the acquired business’ products. The goodwill recorded as a result of the acquisitions is not expected to be deductible for tax purposes. | ||||||||||||||||
The following table provides unaudited pro forma results of continuing operations for the fiscal years ended June 30, 2014 and 2013, as if only the acquisitions completed in fiscal 2014 (Rudi’s and Tilda) had been completed at the beginning of fiscal year 2013. The information has been provided for illustrative purposes only, and does not purport to be indicative of the actual results that would have been achieved by the Company for the periods presented or that will be achieved by the combined company in the future. The pro forma information has been adjusted to give effect to items that are directly attributable to the transactions and are expected to have a continuing impact on the combined results. The adjustments include amortization expense associated with acquired identifiable intangible assets, interest expense associated with bank borrowings to fund the acquisitions and elimination of transactions costs incurred that are directly related to the transactions and do not have a continuing impact on operating results from continuing operations. | ||||||||||||||||
Fiscal Year ended June 30, | ||||||||||||||||
2014 | 2013 | |||||||||||||||
Net sales from continuing operations | $ | 2,310,540 | $ | 1,970,371 | ||||||||||||
Net income from continuing operations | $ | 151,534 | $ | 139,085 | ||||||||||||
Net income per common share from continuing operations - diluted | $ | 2.97 | $ | 2.82 | ||||||||||||
Fiscal 2013 | ||||||||||||||||
On May 2, 2013, we acquired Ella’s Kitchen Group Limited (“Ella’s Kitchen”), a manufacturer and distributor of premium organic baby food under the Ella’s Kitchen® brand and the first company to offer baby food in convenient flexible pouches. Ella’s Kitchen offers a range of branded organic baby food products principally in the United Kingdom, the United States and Scandinavia. Ella’s Kitchen’s operations are included as part of the Company’s United States operating segment. Consideration in the transaction consisted of cash totaling £37,571, net of cash acquired (approximately $58,437 at the transaction date exchange rate) and 687,779 shares of the Company’s common stock valued at $45,050. The acquisition was funded with borrowings under our Credit Agreement. The amounts of net sales and income before income taxes from continuing operations attributable to the Ella’s Kitchen acquisition and included in our consolidated results were not material in the fiscal year ended June 30, 2013. | ||||||||||||||||
On December 21, 2012, we acquired the assets and business of Zoe Sakoutis LLC, d/b/a BluePrint Cleanse (“BluePrint”), a nationally recognized leader in the cold-pressed juice category based in New York City, for $16,679 in cash and 174,267 shares of the Company’s common stock valued at $9,525. Additionally, contingent consideration was payable based upon the achievement of specified operating results during the two annual periods ending December 31, 2013 and 2014. The Company recorded $13,491 as the fair value of the contingent consideration at the acquisition date. In the fourth quarter of fiscal 2014, the Company paid $11,800 in settlement of the contingent consideration obligation with the sellers (see note 15). The BluePrint® brand, which is part of our United States operating segment, expanded our product offerings into a new category. The acquisition was funded with existing cash balances and borrowings under our Credit Agreement. The amounts of net sales and income before income taxes from continuing operations attributable to the BluePrint acquisition and included in our consolidated results were not material in the fiscal year ended June 30, 2013. | ||||||||||||||||
On November 1, 2012, we completed the disposal of our sandwich business, including the Daily BreadTM brand name, in the United Kingdom. The disposal transaction resulted in an exchange of businesses, whereby the Company acquired the fresh prepared fruit products business of Superior Food Limited in the United Kingdom in exchange for the Company’s sandwich business and a cash payment of £1,000 (approximately $1,600 at the transaction date exchange rate). Refer to Note 5, Discontinued Operations, for additional information. | ||||||||||||||||
On October 27, 2012, we completed the acquisition of a portfolio of market-leading packaged grocery brands including Hartley’s®, Sun-Pat®, Gale’s®, Robertson’s® and Frank Cooper’s®, together with the manufacturing facility in Cambridgeshire, United Kingdom (the “UK Ambient Grocery Brands”) from Premier Foods plc. The product offerings acquired include jams, fruit spreads, jellies, nut butters, honey and marmalade products. Consideration in the transaction consisted of £169,708 in cash (approximately $273,246 at the transaction date exchange rate) funded with borrowings under our Credit Agreement and 836,426 shares of the Company’s common stock valued at $48,061. The acquisition expanded our product offerings in the United Kingdom into ambient grocery which we expect will help position the expanded business as a top food and beverage supplier in the United Kingdom. Since the date of acquisition, net sales of $161,784 and income before income taxes from continuing operations of $19,873 were included in the Consolidated Statement of Income for the fiscal year ended June 30, 2013. These results for the UK Ambient Grocery Brands since the date of acquisition on October 27, 2012 do not include all of the selling, general and administrative expenses required to properly support the future operations of the acquired business as these brands were acquired without such functions and the build of the required infrastructure and integration activities are ongoing. | ||||||||||||||||
On August 20, 2012, we completed the sale of our private-label chilled ready meals business in the United Kingdom (the “CRM business”). Total consideration received was £9,641 (approximately $15,132 at the transaction date exchange rate). We recognized a preliminary loss on disposal of $3,616 ($4,200 after-tax, which includes the write-off of certain deferred tax assets) in the fiscal year ended June 30, 2013, and a subsequent gain of $1,148 in the fiscal year ended June 30, 2014 related to the finalization of the working capital adjustment with the purchaser. These amounts are included within “Loss from discontinued operations, net of tax” in the Consolidated Statements of Income. Refer to Note 5, Discontinued Operations, for additional information. | ||||||||||||||||
The following table summarizes the components of the purchase price allocations for the fiscal 2013 acquisitions: | ||||||||||||||||
UK Ambient Grocery Brands | BluePrint | Ella’s Kitchen | Total | |||||||||||||
Purchase price: | ||||||||||||||||
Cash paid | $ | 273,246 | $ | 16,679 | $ | 58,437 | $ | 348,362 | ||||||||
Equity issued | 48,061 | 9,525 | 45,050 | 102,636 | ||||||||||||
Fair value of contingent consideration | — | 13,491 | — | 13,491 | ||||||||||||
$ | 321,307 | $ | 39,695 | $ | 103,487 | $ | 464,489 | |||||||||
Allocation: | ||||||||||||||||
Current assets | $ | 29,825 | $ | 2,742 | $ | 27,749 | $ | 60,316 | ||||||||
Property, plant and equipment | 39,150 | 3,173 | 672 | 42,995 | ||||||||||||
Identifiable intangible assets | 118,020 | 18,980 | 49,669 | 186,669 | ||||||||||||
Assumed liabilities | (2,693 | ) | (2,189 | ) | (15,064 | ) | (19,946 | ) | ||||||||
Deferred income taxes | 2,882 | — | (11,789 | ) | (8,907 | ) | ||||||||||
Goodwill | 134,123 | 16,989 | 52,250 | 203,362 | ||||||||||||
$ | 321,307 | $ | 39,695 | $ | 103,487 | $ | 464,489 | |||||||||
The fair values assigned to identifiable intangible assets acquired were based on assumptions and estimates made by management. Preliminary identifiable intangible assets acquired consisted of customer relationships valued at $46,232 with a weighted average estimated useful life of 15.6 years, a non-compete arrangement valued at $1,100 with an estimated life of 3.0 years, and trade names valued at $139,337 with indefinite lives. The goodwill represents the future economic benefits expected to arise that could not be individually identified and separately recognized, including use of our existing infrastructure to expand sales of the acquired business’ products. The goodwill recorded as a result of the acquisitions of the UK Ambient Grocery Brands and Ella’s Kitchen is not expected to be deductible for tax purposes. | ||||||||||||||||
The following table provides unaudited pro forma results of continuing operations for the fiscal years ended June 30, 2013 and 2012, as if only the acquisitions completed in fiscal 2013 (Ella’s Kitchen, BluePrint and the UK Ambient Grocery Brands) had been completed at the beginning of fiscal year 2012. The information has been provided for illustrative purposes only, and does not purport to be indicative of the actual results that would have been achieved by the Company for the periods presented or that will be achieved by the combined company in the future. The pro forma information has been adjusted to give effect to items that are directly attributable to the transactions and are expected to have a continuing impact on the combined results. The adjustments include amortization expense associated with acquired identifiable intangible assets, interest expense associated with bank borrowings to fund the acquisitions and elimination of transactions costs incurred that are directly related to the transactions and do not have a continuing impact on operating results from continuing operations. | ||||||||||||||||
Fiscal Year ended June 30, | ||||||||||||||||
2013 | 2012 | |||||||||||||||
Net sales from continuing operations | $ | 1,897,924 | $ | 1,695,431 | ||||||||||||
Net income from continuing operations | $ | 137,009 | $ | 115,299 | ||||||||||||
Net income per common share from continuing operations - diluted | $ | 2.82 | $ | 2.43 | ||||||||||||
Fiscal 2012 | ||||||||||||||||
On April 27, 2012, we acquired Cully & Sully Limited (“Cully & Sully”), a marketer of branded natural chilled soups, savory pies and hot pots in Ireland, for €10,460 in cash, net (approximately $13,835 at the transaction date exchange rate), and contingent consideration of up to €4,500 (approximately $5,952 at the transaction date exchange rate) based upon the achievement of specified operating results during the period through April 27, 2014. The acquisition, which is part of our United Kingdom operating segment, provides us entry into the Irish marketplace and complements our existing United Kingdom product offerings. The acquisition was funded with existing cash balances. The amounts of net sales and income before income taxes from continuing operations attributable to the Cully & Sully acquisition and included in our consolidated results were not material in the fiscal year ended June 30, 2012. | ||||||||||||||||
On October 25, 2011, we acquired Daniels in the United Kingdom, for £146,532 in cash, net (approximately $233,822 at the transaction date exchange rate), and up to £13,000 (approximately $20,500 at the transaction date exchange rate) of contingent consideration based upon the achievement of specified operating results during the twelve month periods ended March 31, 2012 and March 31, 2013. The transaction date fair value of the contingent consideration ($15,637) was subsequently reversed with a corresponding reduction of expense in the fourth quarter of fiscal 2012. The acquisition was funded with borrowings under our revolving credit facility. Daniels is a leading marketer and manufacturer of natural chilled foods, including three leading brands – New Covent Garden Soup Co.®, Johnson’s Juice Co.® and Farmhouse Fare®. Daniels also offers fresh prepared fruit products and chilled ready meals. Daniels’ product offerings are sold at all major supermarkets and select foodservice outlets throughout the United Kingdom. We believe the acquisition of Daniels extended our presence into one of the fastest-growing healthy food segments in the United Kingdom and provided a platform for the growth of our combined operations. We also believe the acquisition provides us with the scale in our international operations to allow us to introduce some of our existing brands in the marketplace in a more meaningful way. During the third quarter of fiscal 2012, the Company decided to sell the Daniels private label chilled ready meals operations. Refer to Note 5 for additional information. Since the date of acquisition, Daniels net sales and income before income taxes from continuing operations of $144,290 and $12,999, respectively, were included in the Consolidated Statement of Income for the fiscal year ended June 30, 2012. | ||||||||||||||||
On October 5, 2011 we acquired the assets and business of the Europe’s Best® brand of frozen fruit and vegetable products through our wholly-owned Hain Celestial Canada subsidiary for $9,513 in cash. The Europe’s Best product line includes premium fruit and vegetable products distributed in Canada. The acquisition provided us entry into a new category and complements our existing product offerings. The amounts of net sales and income before income taxes from continuing operations attributable to the Europe’s Best acquisition and included in our consolidated results were not material in the fiscal year ended June 30, 2012. | ||||||||||||||||
The following table summarizes the components of the purchase price allocations for the fiscal 2012 acquisitions: | ||||||||||||||||
Daniels | Europe’s | Cully & Sully | Total | |||||||||||||
Best | ||||||||||||||||
Purchase price: | ||||||||||||||||
Cash paid | $ | 233,822 | $ | 9,513 | $ | 13,835 | $ | 257,170 | ||||||||
Fair value of contingent consideration | 15,637 | — | 3,363 | 19,000 | ||||||||||||
$ | 249,459 | $ | 9,513 | $ | 17,198 | $ | 276,170 | |||||||||
Allocation: | ||||||||||||||||
Current assets | $ | 55,639 | $ | 7,157 | $ | 1,549 | $ | 64,345 | ||||||||
Property, plant and equipment | 46,799 | — | 35 | 46,834 | ||||||||||||
Identifiable intangible assets | 100,290 | 2,706 | 11,693 | 114,689 | ||||||||||||
Other non-current assets, net | 1,108 | — | — | 1,108 | ||||||||||||
Assumed liabilities | (46,431 | ) | (184 | ) | (1,342 | ) | (47,957 | ) | ||||||||
Deferred income taxes | (27,197 | ) | (166 | ) | (1,462 | ) | (28,825 | ) | ||||||||
Goodwill | 119,251 | — | 6,725 | 125,976 | ||||||||||||
$ | 249,459 | $ | 9,513 | $ | 17,198 | $ | 276,170 | |||||||||
The fair values assigned to identifiable intangible assets acquired were based on assumptions and estimates made by management. Identifiable intangible assets acquired consisted of customer relationships valued at $59,602 with a weighted average estimated useful life of 11.0 years, a non-compete arrangement valued at $820 with an estimated useful life of 3 years, and trade names valued at $54,266 with indefinite lives. The goodwill represents the future economic benefits expected to arise that could not be individually identified and separately recognized, including use of our existing infrastructure to expand sales of the acquired business’ products. The goodwill recorded as a result of the Daniels and Cully & Sully acquisitions is not deductible for tax purposes. |
Discontinued_Operations
Discontinued Operations | 12 Months Ended | |||||||||||
Jun. 30, 2014 | ||||||||||||
Discontinued Operations and Disposal Groups [Abstract] | ' | |||||||||||
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] | ' | |||||||||||
DISCONTINUED OPERATIONS | ||||||||||||
On February 6, 2014, the Company completed the sale of the Grains Noirs business in Europe. As result of the sale, a loss on disposal of $2,777 was recorded during the the fiscal year ended June 30, 2014. The operating results of Grains Noirs were not material to the Company’s consolidated financial statements. | ||||||||||||
During the third quarter of fiscal 2012, the Company made the decision to sell its private-label chilled ready meals (“CRM”) business in the United Kingdom, which was acquired in October 2011 as part of the acquisition of Daniels. The sale of the CRM business was completed on August 20, 2012. Additionally, during the fourth quarter of fiscal 2012, the Company made the decision to dispose of its sandwich business, including the Daily BreadTM brand name, in the United Kingdom. The disposal of the sandwich business was completed on November 1, 2012. Operating results for the CRM business, which have been included in the Company’s consolidated financial statements for the period subsequent to the October 2011 acquisition, and the sandwich business have been classified as discontinued operations for all periods presented. | ||||||||||||
Summarized results of our discontinued operations are as follows: | ||||||||||||
Fiscal Year ended June 30, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Net sales | $ | — | $ | 15,313 | $ | 73,743 | ||||||
Impairment charges | $ | — | $ | — | $ | (14,880 | ) | |||||
Operating loss | $ | — | $ | (1,176 | ) | $ | (16,822 | ) | ||||
Loss on sale of business, net of tax | $ | (1,629 | ) | $ | (4,200 | ) | $ | — | ||||
Loss from discontinued operations, net of tax | $ | (1,629 | ) | $ | (5,137 | ) | $ | (14,989 | ) | |||
(1) The loss on sale of business for the fiscal year ended June 30, 2014 includes a $2,777 loss related to the Grains Noirs disposal, offset partially by a $1,148 gain related to the finalization of a working capital adjustment on the sale of the CRM business. | ||||||||||||
In connection with the decisions to dispose of the CRM and sandwich businesses in fiscal 2012, the Company completed an impairment test and determined that certain long-lived assets related to the businesses were impaired. The Company also allocated a portion of the goodwill recorded in its United Kingdom reporting unit to the discontinued operations and tested that goodwill for impairment. The fair value calculations were based on offering prices to purchase the businesses and expectations about future cash flows. The following represents a summary of the impairment charges recorded during the fourth quarter of fiscal 2012 related to our discontinued operations. | ||||||||||||
Customer relationships | $ | 1,756 | ||||||||||
Tradenames | 8,541 | |||||||||||
Goodwill | 2,433 | |||||||||||
Cumulative currency translation adjustment recognized | 2,150 | |||||||||||
Total impairment charges | $ | 14,880 | ||||||||||
Inventories
Inventories | 12 Months Ended | |||||||
Jun. 30, 2014 | ||||||||
Inventory, Net [Abstract] | ' | |||||||
Inventories | ' | |||||||
INVENTORIES | ||||||||
Inventories consisted of the following: | ||||||||
June 30, | June 30, | |||||||
2014 | 2013 | |||||||
Finished goods | $ | 190,818 | $ | 163,288 | ||||
Raw materials, work-in-progress and packaging | 129,433 | 86,887 | ||||||
$ | 320,251 | $ | 250,175 | |||||
Property_Plant_And_Equipment
Property, Plant And Equipment | 12 Months Ended | |||||||
Jun. 30, 2014 | ||||||||
Property, Plant and Equipment [Abstract] | ' | |||||||
Property, Plant And Equipment | ' | |||||||
PROPERTY, PLANT AND EQUIPMENT | ||||||||
Property, plant and equipment consisted of the following: | ||||||||
June 30, | June 30, | |||||||
2014 | 2013 | |||||||
Land | $ | 34,021 | $ | 16,149 | ||||
Buildings and improvements | 75,895 | 61,480 | ||||||
Machinery and equipment | 329,680 | 264,198 | ||||||
Furniture and fixtures | 10,352 | 9,774 | ||||||
Leasehold improvements | 21,836 | 17,760 | ||||||
Construction in progress | 4,850 | 4,669 | ||||||
476,634 | 374,030 | |||||||
Less: Accumulated depreciation and amortization | 165,973 | 138,189 | ||||||
$ | 310,661 | $ | 235,841 | |||||
Goodwill_And_Other_Intangible_
Goodwill And Other Intangible Assets | 12 Months Ended | |||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | |||||||||||||||||||
Goodwill And Other Intangible Assets | ' | |||||||||||||||||||
GOODWILL AND OTHER INTANGIBLE ASSETS | ||||||||||||||||||||
The Company performs its annual test for goodwill and indefinite lived intangible asset impairment on the first day of the fourth quarter of its fiscal year. In addition, if and when events or circumstances change that would more likely than not reduce the fair value of any of its reporting units or indefinite lived intangible assets below their carrying value, an interim test is performed. The Company completed its annual impairment analysis for fiscal year 2014, which included a qualitative assessment for certain reporting units, and no impairment charges were recorded. | ||||||||||||||||||||
Changes in the carrying amount of goodwill by reportable segment for the fiscal years ended June 30, 2014 and 2013 were as follows: | ||||||||||||||||||||
US | United Kingdom | Rest of World | Total | |||||||||||||||||
Balance as of June 30, 2012 (a) | $ | 512,117 | $ | 120,600 | $ | 69,839 | $ | 702,556 | ||||||||||||
Acquisition activity | 63,598 | 121,617 | — | 185,215 | ||||||||||||||||
Translation adjustments, net | (1,157 | ) | (9,368 | ) | (1,140 | ) | (11,665 | ) | ||||||||||||
Balance as of June 30, 2013 (a) | $ | 574,558 | $ | 232,849 | $ | 68,699 | $ | 876,106 | ||||||||||||
Acquisition activity | 27,766 | 190,772 | 520 | 219,058 | ||||||||||||||||
Translation and other adjustments, net | 5,002 | 34,197 | 5 | 39,204 | ||||||||||||||||
Balance as of June 30, 2014 (a) | $ | 607,326 | $ | 457,818 | $ | 69,224 | $ | 1,134,368 | ||||||||||||
(a) The total carrying value of goodwill for all periods in the table above is reflected net of $42,029 of accumulated impairment charges recorded during fiscal 2009 which relate to the Company’s United Kingdom and Europe operating segments. | ||||||||||||||||||||
Amounts assigned to indefinite-life intangible assets primarily represent the values of trademarks and tradenames. At June 30, 2014, included in trademarks and other intangible assets on the balance sheet are $206,071 of intangible assets deemed to have a finite life, which are primarily related to customer relationships, and are being amortized over their estimated useful lives of 3 to 25 years. The following table reflects the components of trademarks and other intangible assets: | ||||||||||||||||||||
June 30, | June 30, | |||||||||||||||||||
2014 | 2013 | |||||||||||||||||||
Non-amortized intangible assets: | ||||||||||||||||||||
Trademarks and tradenames | $ | 498,068 | $ | 376,700 | ||||||||||||||||
Amortized intangible assets: | ||||||||||||||||||||
Other intangibles | 206,071 | 156,728 | ||||||||||||||||||
Less: accumulated amortization | (52,657 | ) | (35,193 | ) | ||||||||||||||||
Net carrying amount | $ | 651,482 | $ | 498,235 | ||||||||||||||||
Amortization expense included in continuing operations was as follows: | ||||||||||||||||||||
Fiscal Year ended June 30, | ||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||
Amortization of intangible assets | $ | 15,600 | $ | 12,398 | $ | 9,150 | ||||||||||||||
Expected amortization expense over the next five fiscal years is as follows: | ||||||||||||||||||||
Fiscal Year ended June 30, | ||||||||||||||||||||
2015 | 2016 | 2017 | 2018 | 2019 | ||||||||||||||||
Estimated amortization expense | $ | 17,826 | $ | 17,424 | $ | 16,734 | $ | 16,551 | $ | 14,127 | ||||||||||
The weighted average remaining amortization period of amortized intangible assets is 10.8 years. |
Accrued_Expenses_and_Other_Cur
Accrued Expenses and Other Current Liabilities | 12 Months Ended | |||||||
Jun. 30, 2014 | ||||||||
Accrued Liabilities, Current [Abstract] | ' | |||||||
Accrued Liabilities Disclosure Current Text Block [Text Block] | ' | |||||||
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES | ||||||||
Accrued expenses and other current liabilities consisted of the following: | ||||||||
June 30, | June 30, | |||||||
2014 | 2013 | |||||||
Payroll, employee benefits and other administrative accruals | $ | 54,171 | $ | 40,146 | ||||
Selling and marketing related accruals | 11,310 | 9,742 | ||||||
Contingent consideration, current portion | 5,611 | 10,283 | ||||||
Other | 13,814 | 16,486 | ||||||
$ | 84,906 | $ | 76,657 | |||||
Debt_and_Borrowings
Debt and Borrowings | 12 Months Ended | |||||||
Jun. 30, 2014 | ||||||||
Debt Disclosure [Abstract] | ' | |||||||
Long-Term Debt And Credit Facility | ' | |||||||
DEBT AND BORROWINGS | ||||||||
Debt and borrowings consisted of the following: | ||||||||
June 30, | June 30, | |||||||
2014 | 2013 | |||||||
Senior Notes | $ | 150,000 | $ | 150,000 | ||||
Revolving Credit Agreement borrowings payable to banks | 614,502 | 503,384 | ||||||
United Kingdom short-term borrowing arrangements | — | 11,779 | ||||||
Tilda short-term borrowing arrangements | 65,975 | — | ||||||
Vendor Loan Note (see note 4) | 34,056 | — | ||||||
Other borrowings | 3,390 | 778 | ||||||
867,923 | 665,941 | |||||||
Short-term borrowings and current portion of long-term debt | 100,096 | 12,477 | ||||||
$ | 767,827 | $ | 653,464 | |||||
We have $150 million in aggregate principal amount of 10 year senior notes due May 2, 2016 issued in a private placement. The notes bear interest at 5.98%, payable semi-annually on November 2 and May 2. As of June 30, 2014, $150,000 of the senior notes was outstanding. | ||||||||
Our Amended and Restated Credit Agreement (the “Credit Agreement”) provides us with an $850 million revolving credit facility which may be increased by an additional uncommitted $150 million provided certain conditions are met. The Credit Agreement expires in August 2017. Borrowings may be used to provide working capital, finance capital expenditures and permitted acquisitions, refinance certain existing indebtedness and for other lawful corporate purposes. The Credit Agreement provides for multicurrency borrowings in Euros, Pounds Sterling and Canadian Dollars as well as other currencies which may be designated. In addition, certain wholly-owned foreign subsidiaries of the Company may be designated as co-borrowers. The Credit Agreement contains restrictive covenants usual and customary for facilities of its type, which include, with specified exceptions, limitations on our ability to engage in certain business activities, incur debt, have liens, make capital expenditures, pay dividends or make other distributions, enter into affiliate transactions, consolidate, merge or acquire or dispose of assets, and make certain investments, acquisitions and loans. The Credit Agreement also requires that we satisfy certain financial covenants, such as maintaining a consolidated interest coverage ratio (as defined) of no less than 4.0 to 1.0 and a consolidated leverage ratio (as defined) of no more than 3.5 to 1.0, which consolidated leverage ratio may increase to no more than 4.0 to 1.0 for the four full fiscal quarters following a permitted acquisition. Our obligations under the Credit Agreement are guaranteed by all of our existing and future domestic subsidiaries, subject to certain exceptions. As of June 30, 2014, there were $614,502 of borrowings outstanding under the Credit Agreement. | ||||||||
The Credit Agreement provides that loans will bear interest at rates based on (a) the Eurocurrency Rate, as defined in the Credit Agreement, plus a rate ranging from 0.875% to 2.00% per annum or (b) the Base Rate, as defined in the Credit Agreement, plus a rate ranging from 0.00% to 1.00% per annum, the relevant rate being the Applicable Rate. The Applicable Rate will be determined in accordance with a leverage-based pricing grid, as set forth in the Credit Agreement. Swing line loans will bear interest at the Base Rate plus the Applicable Rate. The weighted average interest rate on outstanding borrowings under the Credit Agreement at June 30, 2014 was 1.92%. Additionally, the Credit Agreement contains a Commitment Fee, as defined in the Credit Agreement, on the amount unused under the Credit Agreement ranging from 0.20% to 0.35% per annum. Such Commitment Fee is determined in accordance with a leverage-based pricing grid, as set forth in the Credit Agreement. | ||||||||
Tilda maintains short-term borrowing arrangements primarily used to fund the purchase of rice from India and other countries. The maximum borrowings permitted under all such arrangements are £52,000. Outstanding borrowings are secured by the current assets of Tilda, typically have six month terms and bear interest at variable rates typically based on LIBOR plus a margin (weighted average interest rate of approximately 2.8% at June 30, 2014.) | ||||||||
As of June 30, 2013, we maintained other short-term borrowing arrangements in the United Kingdom which were used to fund working capital and capital additions. Borrowings under this arrangement were repaid during fiscal 2014 and this facility is no longer in place. | ||||||||
Maturities of all debt instruments at June 30, 2014, are as follows: | ||||||||
Due in Fiscal Year | Amount | |||||||
2015 | $ | 100,096 | ||||||
2016 | 151,327 | |||||||
2017 | 1,327 | |||||||
2018 | 615,173 | |||||||
$ | 867,923 | |||||||
Interest paid during the fiscal years ended June 30, 2014, 2013, and 2012 amounted to $20,560, $19,154 and $14,377, respectively. |
Income_Taxes
Income Taxes | 12 Months Ended | ||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||||||||||
Income Taxes | ' | ||||||||||||||||||||
INCOME TAXES | |||||||||||||||||||||
The components of income before income taxes and equity in earnings of equity-method investees were as follows: | |||||||||||||||||||||
Fiscal Year ended June 30, | |||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||
Domestic | $ | 157,492 | $ | 130,908 | $ | 111,255 | |||||||||||||||
Foreign | 50,102 | 22,914 | 22,973 | ||||||||||||||||||
Total | $ | 207,594 | $ | 153,822 | $ | 134,228 | |||||||||||||||
The provision for income taxes is presented below. | |||||||||||||||||||||
Fiscal Year ended June 30, | |||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||
Current: | |||||||||||||||||||||
Federal | $ | 46,722 | $ | 31,370 | $ | 28,983 | |||||||||||||||
State and local | 7,891 | 3,792 | 3,414 | ||||||||||||||||||
Foreign | 16,836 | 6,565 | 6,050 | ||||||||||||||||||
71,449 | 41,727 | 38,447 | |||||||||||||||||||
Deferred: | |||||||||||||||||||||
Federal | 2,287 | (4,064 | ) | 3,963 | |||||||||||||||||
State and local | 372 | (405 | ) | 493 | |||||||||||||||||
Foreign | (4,009 | ) | (2,934 | ) | (1,749 | ) | |||||||||||||||
(1,350 | ) | (7,403 | ) | 2,707 | |||||||||||||||||
Total | $ | 70,099 | $ | 34,324 | $ | 41,154 | |||||||||||||||
Income taxes paid during the years ended June 30, 2014, 2013 and 2012 amounted to $47,339, $22,051 and $21,902, respectively. | |||||||||||||||||||||
Reconciliations of expected income taxes at the U.S. federal statutory rate of 35% to the Company’s provision for income taxes for the fiscal years ended June 30 were as follows: | |||||||||||||||||||||
2014 | % | 2013 | % | 2012 | % | ||||||||||||||||
Expected U.S. federal income tax at statutory rate | $ | 72,659 | 35 | % | $ | 53,838 | 35 | % | $ | 46,980 | 35 | % | |||||||||
State income taxes, net of federal benefit | 5,371 | 2.6 | % | 3,278 | 2.1 | % | 3,267 | 2.4 | % | ||||||||||||
Domestic manufacturing deduction | (2,482 | ) | (1.2 | )% | (2,563 | ) | (1.7 | )% | (2,275 | ) | (1.7 | )% | |||||||||
Foreign income at different rates | (4,842 | ) | (2.3 | )% | (4,950 | ) | (3.2 | )% | (11,513 | ) | (8.6 | )% | |||||||||
Worthless stock deduction | — | — | % | (13,186 | ) | (8.6 | )% | — | — | % | |||||||||||
Reduction of deferred tax liabilities resulting from change in United Kingdom tax rate | (3,739 | ) | (1.8 | )% | (2,288 | ) | (1.4 | )% | — | — | % | ||||||||||
Contingent consideration expense reversal | — | — | % | — | — | % | 5,434 | 4 | % | ||||||||||||
Other | 3,132 | 1.5 | % | 195 | 0.1 | % | (739 | ) | (0.4 | )% | |||||||||||
Provision for income taxes | $ | 70,099 | 33.8 | % | $ | 34,324 | 22.3 | % | $ | 41,154 | 30.7 | % | |||||||||
Deferred income taxes reflect the net tax effects of temporary differences between the carrying amount of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Components of our deferred tax assets (liabilities) were as follows: | |||||||||||||||||||||
June 30, 2014 | June 30, 2013 | ||||||||||||||||||||
Current deferred tax assets: | |||||||||||||||||||||
Basis difference on inventory | $ | 5,995 | $ | 5,604 | |||||||||||||||||
Reserves not currently deductible | 17,365 | 11,941 | |||||||||||||||||||
Other | 420 | 171 | |||||||||||||||||||
Current deferred tax assets | 23,780 | 17,716 | |||||||||||||||||||
Noncurrent deferred tax assets/(liabilities): | |||||||||||||||||||||
Basis difference on intangible assets | (143,478 | ) | (107,011 | ) | |||||||||||||||||
Basis difference on property and equipment | (17,782 | ) | (11,236 | ) | |||||||||||||||||
Other comprehensive income | (7,969 | ) | (9,056 | ) | |||||||||||||||||
Net operating loss and tax credit carryforwards | 24,067 | 17,666 | |||||||||||||||||||
Stock based compensation | 6,526 | 5,354 | |||||||||||||||||||
Other | 27 | 344 | |||||||||||||||||||
Valuation allowances | (9,830 | ) | (10,456 | ) | |||||||||||||||||
Noncurrent deferred tax liabilities, net | (148,439 | ) | (114,395 | ) | |||||||||||||||||
Total net deferred tax liabilities | $ | (124,659 | ) | $ | (96,679 | ) | |||||||||||||||
We have U.S. foreign tax credit carryforwards of $448 at June 30, 2014 with various expiration dates through 2024. We have U.S. tax net operating losses available for carryforward at June 30, 2014 of $31,273 that were generated by certain subsidiaries prior to their acquisition and have expiration dates through 2033. The use of pre-acquisition operating losses is subject to limitations imposed by the Internal Revenue Code. We do not anticipate that these limitations will affect utilization of the carryforwards recorded prior to their expiration. | |||||||||||||||||||||
We have deferred tax benefits related to carryforward losses in the United Kingdom of $7,688, against which full valuation allowances have been recorded. Prior to the acquisition of Daniels, the Company’s United Kingdom subsidiaries had recorded historical losses and had been affected by restructuring and other charges. These losses represented sufficient evidence for management to determine that a full valuation allowance for these carryforward losses was appropriate. Under current United Kingdom tax law, our carryforward losses have no expiration. If the Company is able to realize any of these carryforward losses in the future, the provision for income taxes will be reduced by a release of the corresponding valuation allowance. | |||||||||||||||||||||
In addition, we also have deferred tax benefits for foreign net operating losses of $3,722 which are available to reduce future income tax liabilities in Belgium, the Netherlands and Germany. The Company believes it is more likely than not that a portion of these net operating losses will not be realized and as such, as of June 30, 2014, a partial valuation allowance of $2,226 has been established against these deferred tax assets. | |||||||||||||||||||||
The changes in valuation allowances against deferred income tax assets were as follows: | |||||||||||||||||||||
Fiscal Year ended June 30, | |||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||
Balance at beginning of year | $ | 10,456 | $ | 11,183 | |||||||||||||||||
Additions charged to income tax expense | 2,226 | 530 | |||||||||||||||||||
Reductions credited to income tax expense | (760 | ) | (1,690 | ) | |||||||||||||||||
Net change from liquidations, tax rate changes and other | (3,036 | ) | 748 | ||||||||||||||||||
Currency translation adjustments | 944 | (315 | ) | ||||||||||||||||||
Balance at end of year | $ | 9,830 | $ | 10,456 | |||||||||||||||||
As of June 30, 2014, the Company had approximately $81,050 of undistributed earnings of foreign subsidiaries for which taxes have not been provided as the Company has invested or expects to invest these undistributed earnings indefinitely. If in the future these earnings are repatriated to the U.S., or if the Company determines such earnings will be remitted in the foreseeable future, additional tax provisions would be required. Due to complexities in the tax laws and the assumptions that would have to be made, it is not practicable to estimate the amounts of income taxes that might be payable if some or all of such earnings were to be remitted. | |||||||||||||||||||||
Unrecognized tax benefits, including interest and penalties, activity is summarized below: | |||||||||||||||||||||
Fiscal Year ended June 30, | |||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||
Balance at beginning of year | $ | 2,507 | $ | 1,337 | $ | 1,472 | |||||||||||||||
Additions based on tax positions related to prior years | 750 | 574 | 15 | ||||||||||||||||||
Additions for acquired companies | — | 941 | 690 | ||||||||||||||||||
Reductions due to lapse in statute of limitations and settlements | (906 | ) | (345 | ) | (840 | ) | |||||||||||||||
Balance at end of year | $ | 2,351 | $ | 2,507 | $ | 1,337 | |||||||||||||||
At June 30, 2014, $1,285 represents the amount that would impact the effective tax rate in future periods if recognized. | |||||||||||||||||||||
The Company records interest and penalties on tax uncertainties as a component of the provision for income taxes. The Company recognized $6, $268 and $(135) of interest and penalties related to the above unrecognized benefits within income tax expense for the fiscal years ended June 30, 2014, 2013 and 2012, respectively. The Company had accrued $76 and $420 for interest and penalties at the end of fiscal 2014 and 2013, respectively. | |||||||||||||||||||||
The Company and its subsidiaries file income tax returns in the U.S. federal jurisdiction, various U.S. state jurisdictions and several foreign jurisdictions. With few exceptions, the Company is no longer subject to U.S. federal, state and local, or non-U.S. income tax examinations by tax authorities for years before 2011. The Company is no longer subject to tax examinations in the United Kingdom for years prior to 2011. Given the uncertainty regarding when tax authorities will complete their examinations and the possible outcomes of their examinations, a current estimate of the range of reasonably possible significant increases or decreases of income tax that may occur within the next twelve months cannot be made. During the fiscal year ended June 30, 2014, we recorded an increase in the reserve for unrecognized tax benefits of $550 related to a recent Internal Revenue Service examination of our fiscal 2010 and 2011 federal income tax returns, which was settled in the fourth quarter of fiscal 2014. The Company does not believe the ultimate outcome of other in-progress tax audits will not have a material impact on the Company’s consolidated financial statements. |
Stockholders_Equity
Stockholders' Equity | 12 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Stockholders' Equity Note [Abstract] | ' | ||||||||||||||||
Stockholders' Equity Note Disclosure [Text Block] | ' | ||||||||||||||||
STOCKHOLDERS’ EQUITY | |||||||||||||||||
Preferred Stock | |||||||||||||||||
We are authorized to issue “blank check” preferred stock of up to 5 million shares with such designations, rights and preferences as may be determined from time to time by the Board of Directors. Accordingly, the Board of Directors is empowered to issue, without stockholder approval, preferred stock with dividends, liquidation, conversion, voting, or other rights which could decrease the amount of earnings and assets available for distribution to holders of our Common Stock. At June 30, 2014 and 2013, no preferred stock was issued or outstanding. | |||||||||||||||||
Common Stock Issued | |||||||||||||||||
In connection with the acquisitions of Rudi’s and Tilda during fiscal 2014, 1,779,917 shares at a total value of $159,521 were issued to the sellers. In connection with the acquisitions of the UK Ambient Grocery Brands, BluePrint and Ella’s Kitchen during fiscal 2013, 1,698,472 shares at a total value of $102,636 were issued to the sellers (see Note 4). | |||||||||||||||||
Accumulated Other Comprehensive Income (Loss) | |||||||||||||||||
The following table presents the changes in the balance of each component of accumulated other comprehensive income (loss): | |||||||||||||||||
Foreign currency translation adjustments | Unrealized gain on available for sale investment | Deferred gains/(losses) on cash flow hedging instruments | Total | ||||||||||||||
Balance as of June 30, 2013 | $ | (30,797 | ) | $ | 2,747 | $ | 799 | $ | (27,251 | ) | |||||||
Other comprehensive income (loss) before reclassifications (1) | 90,625 | (1,121 | ) | (1,214 | ) | 88,290 | |||||||||||
Amounts reclassified into (income) loss (2) (3) | — | (721 | ) | (190 | ) | (911 | ) | ||||||||||
Net change in accumulated other comprehensive income (loss) for the fiscal year ended June 30, 2014 | 90,625 | (1,842 | ) | (1,404 | ) | 87,379 | |||||||||||
Balance as of June 30, 2014 | $ | 59,828 | $ | 905 | $ | (605 | ) | $ | 60,128 | ||||||||
-1 | Foreign currency translation adjustments include intra-entity foreign currency transactions that are of a long-term investment nature of $21,862 for the fiscal year ended June 30, 2014. | ||||||||||||||||
-2 | Amounts reclassified into income for deferred gains/(losses) on cash flow hedging instruments are recorded in “Cost of sales” in the Consolidated Statement of Income and, before taxes, were $284 for the fiscal year ended June 30, 2014. | ||||||||||||||||
-3 | Amounts reclassified into income for gains on sale of available for sale investments were based on the average cost of the shares held (see Note 14). Such amounts are recorded in “Interest and other expenses, net” in the Consolidated Statement of Income and were $1,511 before taxes for the fiscal year ended June 30, 2014. |
Stock_Based_Compensation_And_I
Stock Based Compensation And Incentive Performance Plans | 12 Months Ended | ||||||||||||||
Jun. 30, 2014 | |||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||||||||
Stock Based Compensation And Incentive Performance Plans | ' | ||||||||||||||
STOCK BASED COMPENSATION AND INCENTIVE PERFORMANCE PLANS | |||||||||||||||
The Company has two shareholder-approved plans, the Amended and Restated 2002 Long-Term Incentive and Stock Award Plan and the 2000 Directors Stock Plan, under which the Company’s officers, senior management, other key employees, consultants and directors may be granted options to purchase the Company’s common stock or other forms of equity-based awards. | |||||||||||||||
2002 Long-Term Incentive and Stock Award Plan, as amended. In November 2002, our stockholders approved the 2002 Long-Term Incentive and Stock Award Plan. An aggregate of 1,600,000 shares of common stock were originally reserved for issuance under this plan. At various Annual Meetings of Stockholders, including the 2013 Annual Meeting, the plan was amended to increase the number of shares issuable to 14,000,000 shares. The plan provides for the granting of stock options, stock appreciation rights, restricted stock, restricted share units, performance shares, performance share units and other equity awards to employees, directors and consultants. Awards denominated in shares of common stock other than options and stock appreciation rights will be counted against the available share limit as 2.07 shares for every one share covered by such award. All of the options granted to date under the plan have been incentive or non-qualified stock options providing for the exercise price equal to the fair market price at the date of grant. Effective December 1, 2005, stock option awards granted under the plan expire 7 years after the date of grant; options granted prior to this date expired 10 years after the date of grant. Options and other stock-based awards vest in accordance with provisions set forth in the applicable award agreements. No awards shall be granted under this plan after November 19, 2023. | |||||||||||||||
There were no options granted under this plan in fiscal years 2014, 2013 or 2012. | |||||||||||||||
There were 193,880, 645,127 and 258,923 shares of restricted stock and restricted share units granted under this plan during fiscal years 2014, 2013 and 2012, respectively. Included in these grants during fiscal years 2014, 2013 and 2012 were 176,560, 613,600 and 150,699, respectively, of restricted stock and restricted share units granted under the Company’s long-term incentive programs, of which 37,340, 449,016 and 75,361, respectively, are subject to the achievement of minimum performance goals established under those programs (see “Long-term Incentive Plan,” below) or market conditions. | |||||||||||||||
At June 30, 2014, 1,253,673 options and 594,543 unvested restricted stock and restricted share units were outstanding under this plan and there were 5,093,742 shares available for grant under this plan. | |||||||||||||||
2000 Directors Stock Plan, as amended. In May 2000, our stockholders approved the 2000 Directors Stock Plan. The plan originally provided for the granting of stock options to non-employee directors to purchase up to an aggregate of 750,000 shares of our common stock. In December 2003, the plan was amended to increase the number of shares issuable to 950,000 shares. In March 2009, the plan was amended to permit the granting of restricted stock, restricted share units and dividend equivalents and was renamed. All of the options granted to date under this plan have been non-qualified stock options providing for the exercise price equal to the fair market price at the date of grant. Effective December 1, 2005, stock option awards granted under the plan expire 7 years after the date of grant; options granted prior to this date expire 10 years after the date of grant. No awards shall be granted under this plan after December 1, 2015. | |||||||||||||||
There were no options granted under this plan in fiscal years 2014, 2013, or 2012. | |||||||||||||||
There were 14,000, 24,750, and 40,000 shares of restricted stock granted under this plan during fiscal years 2014, 2013 and 2012, respectively. | |||||||||||||||
At June 30, 2014, 22,500 options and 34,829 unvested restricted shares were outstanding and there were 12,045 shares available for grant under this plan. | |||||||||||||||
At June 30, 2014 there were also 60,972 options outstanding that were granted under the prior Celestial Seasonings plan. Although no further awards can be granted under those plans, the options outstanding continue in accordance with the terms of the respective plans and grants. | |||||||||||||||
There were 7,072,304 shares of Common Stock reserved for future issuance in connection with stock based awards as of June 30, 2014. | |||||||||||||||
Compensation cost and related income tax benefits recognized in the Consolidated Statements of Income for stock based compensation plans were as follows: | |||||||||||||||
Fiscal Year ended June 30, | |||||||||||||||
2014 | 2013 | 2012 | |||||||||||||
Compensation cost (included in selling, general and administrative expense) | $ | 12,448 | $ | 13,010 | $ | 8,290 | |||||||||
Related income tax benefit | $ | 4,787 | $ | 4,969 | $ | 3,019 | |||||||||
Stock Options | |||||||||||||||
A summary of our stock option activity for the three fiscal years ended June 30, 2014 is as follows: | |||||||||||||||
2014 | Weighted | 2013 | Weighted | 2012 | Weighted | ||||||||||
Average | Average | Average | |||||||||||||
Exercise | Exercise | Exercise | |||||||||||||
Price | Price | Price | |||||||||||||
Outstanding at beginning of year | 1,778,752 | $18.88 | 2,580,433 | $18.00 | 3,497,752 | $17.35 | |||||||||
Exercised | (441,307 | ) | $16.59 | (795,281 | ) | $16.05 | (914,119 | ) | $15.51 | ||||||
Canceled and expired | (300 | ) | $16.01 | (6,400 | ) | $14.87 | (3,200 | ) | $16.11 | ||||||
Outstanding at end of year | 1,337,145 | $19.65 | 1,778,752 | $18.88 | 2,580,433 | $18.00 | |||||||||
Options exercisable at end of year | 1,337,145 | $19.65 | 1,735,427 | $18.90 | 2,289,642 | $18.55 | |||||||||
Fiscal Year ended June 30, | |||||||||||||||
2014 | 2013 | 2012 | |||||||||||||
Intrinsic value of options exercised | $ | 29,778 | $ | 39,562 | $ | 23,798 | |||||||||
Cash received from stock option exercises | $ | 7,320 | $ | 12,763 | $ | 14,179 | |||||||||
Tax benefit recognized from stock option exercises | $ | 11,584 | $ | 14,468 | $ | 8,811 | |||||||||
For options outstanding and exercisable at June 30, 2014, the aggregate intrinsic value (the difference between the closing stock price on the last day of trading in the year and the exercise price) was $92,380 and the weighted average remaining contractual life was 2.1 years. At June 30, 2014 there was no unrecognized compensation expense related to stock option awards. | |||||||||||||||
Restricted Stock | |||||||||||||||
Awards of restricted stock may be either grants of restricted stock or restricted share units that are issued at no cost to the recipient. For restricted stock grants, at the date of grant the recipient has all rights of a stockholder, subject to certain restrictions on transferability and a risk of forfeiture. For restricted share units, legal ownership of the shares is not transferred to the employee until the unit vests. Restricted stock and restricted share unit grants vest in accordance with provisions set forth in the applicable award agreements, which may include performance criteria for certain grants. The compensation cost of these awards is determined using the fair market value of the Company’s common stock on the date of the grant. Compensation expense for restricted stock awards with a service condition is recognized on a straight-line basis over the vesting term. Compensation expense for restricted stock awards with a performance condition is recorded when the achievement of the performance criteria is probable and is recognized over the performance and vesting service periods. | |||||||||||||||
A summary of our restricted stock and restricted share units activity for the three fiscal years ended June 30, 2014 is as follows: | |||||||||||||||
2014 | Weighted | 2013 | Weighted | 2012 | Weighted | ||||||||||
Average Grant | Average Grant | Average Grant | |||||||||||||
Date Fair | Date Fair | Date Fair | |||||||||||||
Value | Value | Value | |||||||||||||
(per share) | (per share) | (per share) | |||||||||||||
Non-vested restricted stock and restricted share units – beginning of year | 773,568 | $42.44 | 487,409 | $29.94 | 407,231 | $22.43 | |||||||||
Granted | 112,396 | $82.77 | 561,532 | $45.60 | 235,824 | $35.47 | |||||||||
Vested | (238,145 | ) | $38.17 | (265,819 | ) | $26.23 | (136,031 | ) | $17.51 | ||||||
Forfeited | (18,447 | ) | $57.44 | (9,554 | ) | $38.73 | (19,615 | ) | $26.71 | ||||||
Non-vested restricted stock and restricted share units – end of year | 629,372 | $50.87 | 773,568 | $42.44 | 487,409 | $29.94 | |||||||||
Fiscal Year ended June 30, | |||||||||||||||
2014 | 2013 | 2012 | |||||||||||||
Fair value of restricted stock and restricted share units granted | $ | 9,303 | $ | 25,606 | $ | 8,364 | |||||||||
Fair value of shares vested | $ | 19,905 | $ | 16,547 | $ | 5,098 | |||||||||
Tax benefit recognized from restricted shares vesting | $ | 7,535 | $ | 6,253 | $ | 1,914 | |||||||||
On July 3, 2012, the Company entered into a Restricted Stock Agreement (the “Agreement”) with Irwin D. Simon, the Company’s Chairman, President and Chief Executive Officer. The Agreement provides for a grant of 400,000 shares of restricted stock (the “Shares”), the vesting of which is both market and time-based. The market condition is satisfied in increments of 100,000 Shares upon the Company’s common stock achieving four share price targets. On the last day of any forty-five (45) consecutive trading day period during which the average closing price of the Company’s common stock on the NASDAQ Global Select Market equals or exceeds the following prices: $62.50, $72.50, $82.50 and $100.00, respectively, the market condition for each increment of 100,000 Shares will be satisfied. The market conditions must be satisfied prior to June 30, 2017. Once each market condition has been satisfied, a tranche of 100,000 Shares will vest in equal amounts annually over a five-year period. Except in the case of a change of control, termination without cause, death or disability (each as defined in Mr. Simon’s Employment Agreement), the unvested Shares are subject to forfeiture unless Mr. Simon remains employed through the applicable market and time vesting periods. The grant date fair value for each tranche was separately estimated based on a Monte Carlo simulation that calculated the likelihood of goal attainment and the time frame most likely for goal attainment. The total grant date fair value of the Shares was estimated to be $16,151, which was expected to be recognized over a weighted-average period of approximately 4.0 years. On September 28, 2012, August 27, 2013, and December 13, 2013, the first, second, and third market conditions, respectively, were satisfied. As such, the first three tranches of 100,000 Shares are expected to vest in equal amounts over the five-year period commencing on the first anniversary of the date the market condition for the respective tranche was satisfied. | |||||||||||||||
At June 30, 2014, $16,042 of unrecognized stock-based compensation expense, net of estimated forfeitures, related to non-vested restricted stock awards, inclusive of the Shares, is expected to be recognized over a weighted-average period of approximately 2.2 years. | |||||||||||||||
Long-Term Incentive Plan | |||||||||||||||
The Company maintains a long-term incentive program (the “LTI Plan”). The LTI Plan currently consists of two two-year performance-based long-term incentive plans (the “2013-2014 LTIP” and the “2014-2015 LTIP”) that provide for a combination of equity grants and performance awards that can be earned over each two year period. Participants in the LTI Plan include our executive officers, including the Chief Executive Officer, and certain other key executives. | |||||||||||||||
The Compensation Committee administers the LTI Plan and is responsible for, among other items, establishing the target values of awards to participants and selecting the specific performance factors for such awards. Following the end of each performance period, the Compensation Committee determines, at its sole discretion, the specific payout to each participant. Such awards may be paid in cash and/or unrestricted shares of the Company’s common stock at the discretion of the Compensation Committee, provided that any such stock-based awards shall be issued pursuant to and be subject to the terms and conditions of the Amended and Restated 2002 Long-Term Incentive and Stock Award Plan, as in effect and as amended from time to time. Upon the adoption of the 2013-2014 LTIP and the 2014-2015 LTIP, the Compensation Committee granted an initial award to each participant in the form of equity-based instruments (restricted stock or restricted share units), for a portion of the individual target awards (the “Initial Equity Grants”). These Initial Equity Grants are subject to time vesting requirements and a portion are also subject to the achievement of minimum performance goals. The Initial Equity Grants are expensed over the respective vesting periods on a straight-line basis. The payment of the actual awards earned at the end of the applicable performance period, if any, will be reduced by the value of the Initial Equity Grants. | |||||||||||||||
The Compensation Committee determined that the target values set under the LTI Plan covering the 2012 and 2013 fiscal years (the “2012-2013 LTIP”) were achieved and approved the payment of awards to the participants. After deducting the value of the Initial Equity Grants, the awards related to the 2012-2013 LTIP totaled $7,356 (which were settled by the issuance of 95,484 unrestricted shares of the Company’s common stock in the first quarter of fiscal 2014). | |||||||||||||||
The Company has recorded expense (in addition to the stock based compensation expense associated with the Initial Equity Grants) of $9,495, $7,460 and $8,743 for the fiscal years ended June 30, 2014, 2013 and 2012 respectively, related to LTI plans. |
Investments_And_Joint_Ventures
Investments And Joint Ventures | 12 Months Ended |
Jun. 30, 2014 | |
Equity Method Investments and Joint Ventures [Abstract] | ' |
Investments And Joint Ventures | ' |
INVESTMENTS AND JOINT VENTURES | |
Equity method investments | |
At June 30, 2014, the Company owned 48.7% of Hain Pure Protein. This investment is accounted for under the equity method of accounting. The carrying value of our investment of $30,742 is included on the Consolidated Balance Sheet in “Investments and joint ventures.” During fiscal 2014 and 2013, HPP repaid $6,038 and $4,116, respectively of our previously provided advances. As of June 30, 2014, there were no outstanding borrowings. | |
At June 30, 2014, the Company also owned 50.0% of a joint venture, Hutchison Hain Organic Holdings Limited (“HHO”), with Chi-Med, a majority owned subsidiary of Hutchison Whampoa Limited. HHO markets and distributes certain of the Company’s brands in Hong Kong, China and other markets. Voting control of the joint venture is shared 50/50 between the Company and Chi-Med, although, in the event of a deadlock, Chi-Med has the ability to cast the deciding vote. The carrying value of our investment and advances to HHO of $455 are included on the Consolidated Balance Sheet in “Investments and joint ventures.” During the fiscal year ended June 30, 2014, HHO repaid $2,250 of advances we previously made, which amount is reflected in the carrying value of our total investment as of June 30, 2014. The investment is being accounted for under the equity method of accounting. | |
Available-For-Sale Securities | |
The Company has a less than 1% equity ownership interest in Yeo Hiap Seng Limited (“YHS”), a Singapore based natural food and beverage company listed on the Singapore Exchange, which is accounted for as an available-for-sale security. The Company sold 2,299,000 of its YHS shares during fiscal year ended June 30, 2014 which resulted in a pre-tax gain of $1,511 on the sales. The remaining shares held at June 30, 2014 totaled 3,072,738. The fair value of these shares held was $5,314 (cost basis of $3,831) at June 30, 2014 and $11,237 (cost basis of $6,696) at June 30, 2013 and is included in “Investments and joint ventures,” with the related unrealized gain or loss, net of tax, included in “Accumulated other comprehensive income” in the Consolidated Balance Sheets. |
Financial_Instruments_Measured
Financial Instruments Measured At Fair Value | 12 Months Ended | |||||||||||||||
Jun. 30, 2014 | ||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||
Financial Instruments Measured At Fair Value | ' | |||||||||||||||
FINANCIAL INSTRUMENTS MEASURED AT FAIR VALUE | ||||||||||||||||
The Company’s financial assets and liabilities measured at fair value are required to be grouped in one of three levels. The levels prioritize the inputs used to measure the fair value of the assets or liabilities. These levels are: | ||||||||||||||||
• | Level 1 – Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities; | |||||||||||||||
• | Level 2 – Quoted prices in markets that are not active, or inputs which are observable, either directly or indirectly, for substantially the full term of the asset or liability; | |||||||||||||||
• | Level 3 – Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e., supported by little or no market activity). | |||||||||||||||
The following table presents by level within the fair value hierarchy assets and liabilities measured at fair value on a recurring basis as of June 30, 2014: | ||||||||||||||||
Total | Quoted | Significant | Significant | |||||||||||||
prices in | other | unobservable | ||||||||||||||
active | observable | inputs | ||||||||||||||
markets | inputs | (Level 3) | ||||||||||||||
(Level 1) | (Level 2) | |||||||||||||||
Assets: | ||||||||||||||||
Cash equivalents | $ | 31,902 | $ | 31,902 | $ | — | — | |||||||||
Forward foreign currency contracts | 391 | — | 391 | — | ||||||||||||
Available for sale securities | 5,314 | 5,314 | — | — | ||||||||||||
$ | 37,607 | $ | 37,216 | $ | 391 | — | ||||||||||
Liabilities: | ||||||||||||||||
Forward foreign currency contracts | $ | 1,168 | — | $ | 1,168 | — | ||||||||||
Contingent consideration, of which $2,669 is noncurrent | 8,280 | — | — | $ | 8,280 | |||||||||||
Total | $ | 9,448 | — | 1,168 | $ | 8,280 | ||||||||||
The following table presents assets and liabilities measured at fair value on a recurring basis as of June 30, 2013: | ||||||||||||||||
Total | Quoted | Significant | Significant | |||||||||||||
prices in | other | unobservable | ||||||||||||||
active | observable | inputs | ||||||||||||||
markets | inputs | (Level 3) | ||||||||||||||
(Level 1) | (Level 2) | |||||||||||||||
Assets: | ||||||||||||||||
Cash equivalents | $ | 6,200 | $ | 6,200 | $ | — | — | |||||||||
Forward foreign currency contracts | 1,066 | — | 1,066 | — | ||||||||||||
Available for sale securities | 11,237 | 11,237 | — | — | ||||||||||||
$ | 18,503 | $ | 17,437 | $ | 1,066 | — | ||||||||||
Liabilities: | ||||||||||||||||
Contingent consideration, of which $12,531 is noncurrent | $ | 22,814 | — | — | $ | 22,814 | ||||||||||
Total | $ | 22,814 | — | — | $ | 22,814 | ||||||||||
Available for sale securities consist of the Company’s investment in YHS (see Note 14). Fair value is measured using the market approach based on quoted prices. The Company utilizes the income approach to measure fair value for its foreign currency forward contracts. The income approach uses pricing models that rely on market observable inputs such as yield curves, currency exchange rates, and forward prices. | ||||||||||||||||
In connection with the acquisitions of BluePrint in December 2012, Cully & Sully in April 2012, and GG UniqeFiber AS in January 2011, payment of a portion of the respective purchase prices are contingent upon the achievement of certain operating results. We estimated the original fair value of the contingent consideration as the present value of the expected contingent payments, determined using the weighted probabilities of the possible payments. We are required to reassess the fair value of contingent payments on a periodic basis. During the fiscal year ended June 30, 2014, the Company’s reassessment resulted in a net reduction of expense of $3,616. During the fiscal year ended June 30, 2013, the Company’s reassessment resulted in additional expense of $2,336. The significant inputs used in these estimates include numerous possible scenarios for the payments based on the contractual terms of the contingent consideration, for which probabilities are assigned to each scenario, which are then discounted based on an individual risk analysis of the respective liabilities (weighted average discount rate of 4.0% for the outstanding liabilities as of June 30, 2014). Although we believe our assumptions are reasonable, different assumptions, including those regarding the operating results of the respective businesses, or changes in the future may result in different estimated amounts. | ||||||||||||||||
The following table summarizes the Level 3 activity: | ||||||||||||||||
Fiscal Year ended June 30, | ||||||||||||||||
2014 | 2013 | |||||||||||||||
Balance at beginning of year | $ | 22,814 | $ | 6,582 | ||||||||||||
Fair value of initial contingent consideration | — | 13,491 | ||||||||||||||
Contingent consideration adjustment and accretion of | (3,026 | ) | 2,487 | |||||||||||||
interest expense, net | ||||||||||||||||
Contingent consideration paid | (11,800 | ) | — | |||||||||||||
Translation adjustment | 292 | 254 | ||||||||||||||
Balance at end of year | $ | 8,280 | $ | 22,814 | ||||||||||||
There were no transfers of financial instruments between the three levels of fair value hierarchy during the fiscal years ended June 30, 2014 or 2013. | ||||||||||||||||
Cash Flow Hedges | ||||||||||||||||
The Company primarily has exposure to changes in foreign currency exchange rates relating to certain anticipated cash flows from its international operations. To reduce that risk, the Company may enter into certain derivative financial instruments, when available on a cost-effective basis, to manage such risk. Derivative financial instruments are not used for speculative purposes. | ||||||||||||||||
The Company utilizes foreign currency contracts to hedge forecasted transactions, primarily intercompany transactions, on certain foreign currencies and designates these derivative instruments as foreign currency cash flow hedges when appropriate. The notional and fair value amounts of the Company’s foreign exchange derivative contracts at June 30, 2014 were $69,431 and $777 of net liabilities. There were $29,916 of notional amount and $1,066 of net assets of foreign exchange derivative contracts outstanding at June 30, 2013. The fair value of these derivatives is included in prepaid expenses and other current assets and accrued expenses and other current liabilities in the Consolidated Balance Sheets. For these derivatives, which qualify as hedges of probable forecasted cash flows, the effective portion of changes in fair value is temporarily reported in accumulated other comprehensive income and recognized in earnings when the hedged item affects earnings. These foreign exchange contracts have maturities over the next 13 months. | ||||||||||||||||
The Company assesses effectiveness at the inception of the hedge and on a quarterly basis. These assessments determine whether derivatives designated as qualifying hedges continue to be highly effective in offsetting changes in the cash flows of hedged items. Any ineffective portion of change in fair value is not deferred in accumulated other comprehensive income and is included in current period results. For the fiscal years ended June 30, 2014 and 2013, the impact of hedge ineffectiveness on earnings was not significant. The Company will discontinue cash flow hedge accounting when the forecasted transaction is no longer probable of occurring on the originally forecasted date or when the hedge is no longer effective. There were no discontinued foreign exchange hedges for the fiscal years ended June 30, 2014 and 2013. |
Commitments_And_Contingencies
Commitments And Contingencies | 12 Months Ended | |||
Jun. 30, 2014 | ||||
Commitments and Contingencies Disclosure [Abstract] | ' | |||
Commitments And Contingencies | ' | |||
COMMITMENTS AND CONTINGENCIES | ||||
Lease commitments and rent expense | ||||
The Company leases office, manufacturing and warehouse space. These leases provide for additional payments of real estate taxes and other operating expenses over a base period amount. | ||||
The aggregate minimum future lease payments for these operating leases at June 30, 2014, are as follows: | ||||
Fiscal Year | ||||
2015 | $ | 16,075 | ||
2016 | 11,024 | |||
2017 | 8,185 | |||
2018 | 6,733 | |||
2019 | 6,165 | |||
Thereafter | 51,012 | |||
$ | 99,194 | |||
Rent expense charged to operations for the fiscal years ended June 30, 2014, 2013 and 2012 was $20,567, $16,449 and $12,603, respectively. | ||||
Legal proceedings | ||||
On May 11, 2011, Rosminah Brown, on behalf of herself and all other similarly situated individuals, as well as a non-profit organization, filed a putative class action in the Superior Court of California, Alameda County against the Company. The complaint alleged that the labels of certain Avalon Organics® brand and JASON® brand personal care products used prior to the Company’s implementation of ANSI/NSF-305 certification in mid-2011 violated certain California statutes. Defendants removed the case to the United States District Court for the Northern District of California. The action was consolidated with a subsequently-filed putative class action containing substantially identical allegations concerning only the JASON® brand personal care products. The consolidated actions seek an award for damages, injunctive relief, costs, expenses and attorneys’ fees. These consolidated lawsuits are currently at the discovery phase. The Company intends to defend this lawsuit vigorously and believes that the plaintiffs’ claims are without merit. | ||||
In addition to the litigation described above, the Company may be a party to a number of legal actions, proceedings, audits, tax audits, claims and disputes, arising in the ordinary course of business, including those with current and former customers over amounts owed. While any action, proceeding, audit or claim contains an element of uncertainty and may materially affect the Company’s cash flows and results of operations in a particular quarter or year, based on current facts and circumstances, the Company’s management believes that the outcome of such actions, proceedings, audits, claims and disputes will not have a material adverse effect on the Company’s business, prospects, results of operations, financial condition, cash flows or liquidity. |
Defined_Contribution_Plans
Defined Contribution Plans | 12 Months Ended |
Jun. 30, 2014 | |
Compensation and Retirement Disclosure [Abstract] | ' |
Pension and Other Postretirement Benefits Disclosure [Text Block] | ' |
DEFINED CONTRIBUTION PLANS | |
We have a 401(k) Employee Retirement Plan (the “Plan”) to provide retirement benefits for eligible employees. All full-time employees of the Company and its wholly-owned domestic subsidiaries are eligible to participate upon completion of 30 days of service. On an annual basis, we may, in our sole discretion, make certain matching contributions. For the fiscal years ended June 30, 2014, 2013 and 2012, we made contributions to the Plan of $539, $542 and $491, respectively. In addition, certain of our international subsidiaries maintain separate defined contribution plans for their employees, however the amounts are not significant to the consolidated financial statements. |
Segment_Information
Segment Information | 12 Months Ended | |||||||||||
Jun. 30, 2014 | ||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||
Segment Information | ' | |||||||||||
SEGMENT INFORMATION | ||||||||||||
Our operations are managed in four operating segments: United States, United Kingdom, Canada and Europe. The United States and the United Kingdom are currently reportable segments, while Canada and Europe do not currently meet the quantitative thresholds for reporting and are therefore combined and reported as “Rest of World.” | ||||||||||||
Net sales and operating profit are the primary measures used by our Chief Operating Decision Maker (“CODM”) to evaluate segment operating performance and to decide how to allocate resources to segments. Our CODM is the Company’s Chief Executive Officer. Expenses related to certain centralized administration functions that are not specifically related to an operating segment are included in “Corporate and other.” Corporate and other expenses are comprised mainly of the compensation and related expenses of certain of the Company’s senior executive officers and other selected employees who perform duties related to our entire enterprise, as well as expenses for certain professional fees, facilities, and other items which benefit the Company as a whole. Additionally, acquisition related expenses, restructuring charges and costs associated with voluntary recalls are included in “Corporate and other.” Expenses that are managed centrally but can be attributed to a segment, such as employee benefits and certain facility costs, are allocated based on reasonable allocation methods. Assets are reviewed by the CODM on a consolidated basis and are not reported by operating segment. | ||||||||||||
The following tables set forth financial information about each of the Company’s reportable segments. Transactions between reportable segments were insignificant for all periods presented. | ||||||||||||
Fiscal Years ended June 30, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Net Sales: (1) | ||||||||||||
United States | $ | 1,282,175 | $ | 1,095,867 | $ | 991,626 | ||||||
United Kingdom | 637,454 | 420,408 | 192,352 | |||||||||
Rest of World | 233,982 | 218,408 | 194,269 | |||||||||
$ | 2,153,611 | $ | 1,734,683 | $ | 1,378,247 | |||||||
Operating Income: | ||||||||||||
United States | $ | 211,864 | $ | 177,352 | $ | 149,791 | ||||||
United Kingdom | 52,661 | 31,069 | 9,690 | |||||||||
Rest of World | 17,397 | 18,671 | 13,347 | |||||||||
$ | 281,922 | $ | 227,092 | $ | 172,828 | |||||||
Corporate and other (2) | (54,185 | ) | (52,780 | ) | (21,300 | ) | ||||||
$ | 227,737 | $ | 174,312 | $ | 151,528 | |||||||
-1 | One of our customers accounted for approximately 13%, 15%, and 18% of our consolidated net sales for the fiscal years ended June 30, 2014, 2013, and 2012, respectively, which were primarily related to the United States segment. A second customer accounted for approximately 11% and 10% of our consolidated net sales for the fiscal years ended June 30, 2014 and 2013, which were primarily related to the United States and United Kingdom segments. | |||||||||||
-2 | Includes $10,076, $16,634, and $7,974 of acquisition related expenses, restructuring and integration charges for the fiscal years ended June 30, 2014, 2013 and 2012, respectively. Of those amounts, $945, $4,491 and $0 are recorded in cost of sales for the fiscal years ended June 30, 2014, 2013 and 2012, respectively. Corporate and other also includes a net reduction of expense of $3,616 for the fiscal year ended June 30, 2014, expense of $2,336 for the fiscal year ended June 30, 2013, and a reduction of expense of $14,627 for the fiscal years ended June 30, 2012, related to adjustments of the carrying value of contingent consideration. Additionally, $6,000 of expense is included in Corporate and other for the fiscal year ended June 30, 2014 related to a August 2014 voluntary recall (see Note 19). | |||||||||||
The Company’s sales by product category are as follows: | ||||||||||||
Fiscal Year ended June 30, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Grocery | $ | 1,669,208 | $ | 1,286,377 | $ | 955,071 | ||||||
Snacks | 249,033 | 220,452 | 209,319 | |||||||||
Tea | 115,593 | 110,819 | 103,950 | |||||||||
Personal Care | 119,777 | 117,035 | 109,907 | |||||||||
Total | $ | 2,153,611 | $ | 1,734,683 | $ | 1,378,247 | ||||||
The Company’s long-lived assets, which primarily represent net property, plant and equipment, by geographic area are as follows: | ||||||||||||
June 30, | June 30, | |||||||||||
2014 | 2013 | |||||||||||
United States | $ | 139,919 | $ | 149,240 | ||||||||
Canada | 9,694 | 10,057 | ||||||||||
United Kingdom | 198,505 | 122,620 | ||||||||||
Europe | 27,746 | 27,064 | ||||||||||
$ | 375,864 | $ | 308,981 | |||||||||
Subsequent_Events_Notes
Subsequent Events (Notes) | 12 Months Ended |
Jun. 30, 2014 | |
Subsequent Events [Abstract] | ' |
Subsequent Events [Text Block] | ' |
SUBSEQUENT EVENTS | |
On July 17, 2014, the Company acquired the remaining 51.3% of Hain Pure Protein that it did not already own from an affiliate of Pegasus Capital Advisor’s, L.P. (“Pegasus”), Pegasus Partners III, L.P. Consideration in the transaction consisted of cash totaling $20,310 and 231,428 shares of the Company’s common stock valued at $19,690. As a result of the stock purchase, Hain Pure Protein became the Company’s wholly-owned subsidiary. | |
On August 19, 2014, the Company announced a voluntary recall on certain nut butters. In connection with the voluntary recall, the Company recorded costs totaling $6,000 in the fiscal year ended June 30, 2014 as a component of cost of sales which primarily relate to inventory on hand and expected return of product from customers sold prior to June 30, 2014. While the cost of the voluntary recall to be recorded in fiscal 2015 is not yet known, it is reasonably possible that the total pre-tax costs of the recall related to fiscal 2015 may be between $4,000 and $8,000. We do not believe the total costs incurred will be material to our liquidity, and we are working with our insurance carrier for recovery of such costs. |
Schedule_II_Valuation_and_Qual
Schedule II - Valuation and Qualifying Accounts | 12 Months Ended | ||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||
Valuation and Qualifying Accounts [Abstract] | ' | ||||||||||||||||||||
Schedule of Valuation and Qualifying Accounts Disclosure [Text Block] | ' | ||||||||||||||||||||
The Hain Celestial Group, Inc. and Subsidiaries | |||||||||||||||||||||
Schedule II - Valuation and Qualifying Accounts | |||||||||||||||||||||
Column A | Column B | Column C | Column D | Column E | |||||||||||||||||
Additions | |||||||||||||||||||||
Balance at | Charged to | Charged to | Deductions - describe (2) | Balance of | |||||||||||||||||
beginning of | costs and | other accounts - | end of | ||||||||||||||||||
period | expenses | describe (1) | period | ||||||||||||||||||
Fiscal Year Ended June 30, 2014: | |||||||||||||||||||||
Allowance for doubtful accounts | $ | 2,564 | $ | 51 | $ | 330 | $ | (1,359 | ) | $ | 1,586 | ||||||||||
Valuation allowance for deferred tax assets | $ | 10,456 | $ | 1,466 | $ | — | $ | (2,092 | ) | $ | 9,830 | ||||||||||
Fiscal Year Ended June 30, 2013: | |||||||||||||||||||||
Allowance for doubtful accounts | $ | 2,661 | $ | 67 | $ | — | $ | (164 | ) | $ | 2,564 | ||||||||||
Valuation allowance for deferred tax assets | $ | 11,183 | $ | (1,160 | ) | $ | — | $ | 433 | $ | 10,456 | ||||||||||
Fiscal Year Ended June 30, 2012: | |||||||||||||||||||||
Allowance for doubtful accounts | $ | 1,230 | $ | 546 | $ | 969 | $ | (84 | ) | $ | 2,661 | ||||||||||
Valuation allowance for deferred tax assets | $ | 10,426 | $ | 1,354 | $ | — | $ | (597 | ) | $ | 11,183 | ||||||||||
-1 | Represents the allowance for doubtful accounts of the business acquired during the fiscal year | ||||||||||||||||||||
-2 | Amounts written off and changes in exchange rates |
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 12 Months Ended | ||
Jun. 30, 2014 | |||
Accounting Policies [Abstract] | ' | ||
Consolidation, Subsidiaries or Other Investments, Consolidated Entities, Policy [Policy Text Block] | ' | ||
Basis of Presentation | |||
Our consolidated financial statements include the accounts of the Company and its wholly-owned and majority-owned subsidiaries. Intercompany accounts and transactions have been eliminated in consolidation. Investments in affiliated companies in which the company exercises significant influence, but which it does not control, are accounted for in the accompanying consolidated financial statements under the equity method of accounting. As such, consolidated net income includes the Company’s equity in the current earnings or losses of such companies. | |||
Use of Estimates, Policy [Policy Text Block] | ' | ||
Use of Estimates | |||
The financial statements are prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”). The accounting principles we use require us to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and amounts of income and expenses during the reporting periods presented. Changes in facts and circumstances may result in revised estimates, which are recorded in the period when they become known. We believe in the quality and reasonableness of our critical accounting estimates; however, materially different amounts might be reported under different conditions or using assumptions different from those that we have consistently applied. | |||
Cash and Cash Equivalents, Policy [Policy Text Block] | ' | ||
Cash and Cash Equivalents | |||
The Company considers cash and cash equivalents to include cash in banks, commercial paper and deposits with financial institutions that can be liquidated without prior notice or penalty. The Company considers all highly liquid investments with an original maturity of three months or less to be cash equivalents. | |||
Concentration Risk, Credit Risk, Policy [Policy Text Block] | ' | ||
Valuation of Accounts and Chargebacks Receivable and Concentration of Credit Risk | |||
We perform ongoing credit evaluations on existing and new customers daily. We apply reserves for delinquent or uncollectible trade receivables based on a specific identification methodology and also apply an additional reserve based on the experience we have with our trade receivables aging categories. Credit losses have been within our expectations in recent years. While one of our customers represented approximately 10% and 13% of our trade receivables balances as of June 30, 2014 and 2013, respectively, and a second customer represented approximately 10% and 8% of our trade receivable balances as of June 30, 2014 and 2013, respectively, we believe there is no significant or unusual credit exposure at this time. | |||
Based on cash collection history and other statistical analysis, we estimate the amount of unauthorized deductions our customers have taken that we expect to be repaid in the near future and record a chargeback receivable. Our estimate of this receivable balance ($4,883 at June 30, 2014 and $3,750 at June 30, 2013) could be different had we used different assumptions and judgments. | |||
During the fiscal years ended June 30, 2014, 2013 and 2012, sales to one customer and its affiliates approximated 13%, 15% and 18% of consolidated net sales, respectively. Sales to a second customer and its affiliates approximated 11% and 10% during the fiscal years ended June 30, 2014 and 2013, but was less than 10% during fiscal year ended June 30, 2012. | |||
Inventory, Policy [Policy Text Block] | ' | ||
Inventory | |||
Our inventory is valued at the lower of cost or market, utilizing the first-in, first-out method. We provide write-downs for finished goods expected to become non-saleable due to age and specifically identify and provide for slow moving or obsolete raw ingredients and packaging. | |||
Property, Plant and Equipment, Policy [Policy Text Block] | ' | ||
Property, Plant and Equipment | |||
Our property, plant and equipment is carried at cost and depreciated or amortized on a straight-line basis over the estimated useful lives or lease life, whichever is shorter. We believe the asset lives assigned to our property, plant and equipment are within ranges generally used in consumer products manufacturing and distribution businesses. Our manufacturing plants and distribution centers, and their related assets, are reviewed when impairment indicators are present by analyzing underlying cash flow projections. At this time, we believe no impairment of the carrying value of such assets exists. Ordinary repairs and maintenance are expensed as incurred. We utilize the following ranges of asset lives: | |||
Buildings and improvements | 10-40 years | ||
Machinery and equipment | 3-20 years | ||
Furniture and fixtures | 3-15 years | ||
Leasehold improvements are amortized over the shorter of the respective initial lease term or the estimated useful life of the assets, and generally range from 3 to 15 years. | |||
Goodwill and Intangible Assets, Policy [Policy Text Block] | ' | ||
Goodwill and Intangible Assets | |||
Goodwill and other intangible assets with indefinite useful lives are not amortized, but instead tested for impairment at least annually at the reporting unit level (for goodwill) or separate unit of accounting (for intangible assets with indefinite useful lives). The Company performs its test for impairment at the beginning of the fourth quarter of its fiscal year, and earlier if an event occurs or circumstances change that indicates impairment might exist. The Company has the option to first assess qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit or indefinite-lived intangible asset is less than its carrying amount. Otherwise, a two-step impairment test is performed. The impairment test for goodwill requires the Company to compare the fair value of a reporting unit to its carrying value, including goodwill. The Company uses a blended analysis of a discounted cash flow model and a market valuation approach to determine the fair values of its reporting units. If the carrying value of a reporting unit exceeds its fair value, the Company would then compare the carrying value of the goodwill to its implied fair value in order to determine the amount of the impairment, if any. | |||
Revenue Recognition, Policy [Policy Text Block] | ' | ||
Revenue Recognition | |||
Sales are recognized when the earnings process is complete, which occurs when products are shipped in accordance with terms of agreements, title and risk of loss transfer to customers, collection is probable and pricing is fixed or determinable. Shipping and handling costs billed to customers are included in reported sales. Allowances for cash discounts are recorded in the period in which the related sale is recognized. | |||
Revenue Recognition, Incentives [Policy Text Block] | ' | ||
Sales and Promotion Incentives | |||
Sales incentives and promotions include price discounts, slotting fees and coupons and are used to support sales of the Company’s products. These incentives are deducted from our gross sales to determine reported net sales. The recognition of expense for these programs involves the use of judgment related to performance and redemption estimates. Differences between estimated expense and actual redemptions are normally insignificant and recognized as a change in estimate in the period such change occurs. | |||
Trade Promotions. Accruals for trade promotions are recorded primarily at the time a product is sold to the customer based on expected levels of performance. Settlement of these liabilities typically occurs in subsequent periods primarily through an authorization process for deductions taken by a customer from amounts otherwise due to the Company. | |||
Coupon Redemption. Coupon redemption costs are accrued in the period in which the coupons are offered, based on estimates of redemption rates that are developed by management. Management estimates are based on recommendations from independent coupon redemption clearing-houses as well as on historical information. Should actual redemption rates vary from amounts estimated, adjustments to accruals may be required. | |||
Shipping and Handling Cost, Policy [Policy Text Block] | ' | ||
costs associated with shipping and handling of our inventory. | |||
Foreign Currency Transactions and Translations Policy [Policy Text Block] | ' | ||
Foreign Currency | |||
The financial position and operating results of foreign operations are consolidated using the local currency as the functional currency. Financial statements of foreign subsidiaries are translated into U.S. dollars using current rates for balance sheet accounts and average rates during each reporting period for revenues, costs and expenses. Net translation gains or losses resulting from the translation of foreign financial statements and the effect of exchange rate changes on intercompany transactions of a long-term investment nature are accumulated and credited or charged directly to other comprehensive income, which is a separate component of stockholders’ equity. | |||
The Company also recognizes gains and losses on transactions that are denominated in a currency other than the respective entity’s functional currency. Foreign currency transaction gains and losses also include amounts realized on the settlement of intercompany loans with foreign subsidiaries that are of a short-term investment nature. | |||
Research and Development Expense, Policy [Policy Text Block] | ' | ||
Research and Development Costs | |||
Research and development costs are expensed as incurred and are included in selling, general and administrative expenses in the accompanying consolidated financial statements. Research and development costs amounted to $10,049 in fiscal 2014, $7,516 in fiscal 2013 and $3,906 in fiscal 2012. Our research and development expenditures do not include the expenditures on such activities undertaken by co-packers and suppliers who develop numerous products based on ideas we generate and on their own initiative with the expectation that we will accept their new product ideas and market them under our brands. These efforts by co-packers and suppliers have resulted in a substantial number of our new product introductions. We are unable to estimate the amount of expenditures made by co-packers and suppliers on research and development; however, we believe such activities and expenditures are important to our continuing ability to introduce new products. | |||
Advertising Costs, Policy [Policy Text Block] | ' | ||
Advertising Costs | |||
Advertising costs, which are included in selling, general and administrative expenses, amounted to $15,463 in fiscal 2014, $14,030 in fiscal 2013 and $9,054 in fiscal 2012. Such costs are expensed as incurred. | |||
Income Tax, Policy [Policy Text Block] | ' | ||
Income Taxes | |||
We follow the liability method of accounting for income taxes. Under the liability method, deferred taxes are determined based on the differences between the financial statement and tax bases of assets and liabilities at enacted rates in effect in the years in which the differences are expected to reverse. Valuation allowances are provided for deferred tax assets to the extent it is more likely than not that deferred tax assets will not be recoverable against future taxable income. | |||
We recognize liabilities for uncertain tax positions based on a two-step process prescribed by the authoritative guidance. The first step requires us to determine if the weight of available evidence indicates that the tax position has met the threshold for recognition; therefore, we must evaluate whether it is more likely than not that the position will be sustained on audit, including resolution of any related appeals or litigation processes. The second step requires us to measure the tax benefit of the tax position taken, or expected to be taken, in an income tax return as the largest amount that is more than 50% likely of being realized upon ultimate settlement. We reevaluate the uncertain tax positions each quarter based on factors including, but not limited to, changes in facts or circumstances, changes in tax law, effectively settled issues under audit, and new audit activity. Depending on the jurisdiction, such a change in recognition or measurement may result in the recognition of a tax benefit or an additional charge to the tax provision in the period. We record interest and penalties in our provision for income taxes. | |||
Fair Value of Financial Instruments, Policy [Policy Text Block] | ' | ||
Fair Value of Financial Instruments | |||
The fair value of financial instruments is the amount at which the instrument could be exchanged in a current transaction between willing parties. At June 30, 2014 and 2013, we had $31,902 and $6,200 invested in corporate money market securities, including commercial paper, repurchase agreements, variable rate instruments and bank instruments. These securities are classified as cash equivalents as their maturities when purchased are less than three months. At June 30, 2014 and 2013, the carrying values of financial instruments such as accounts receivable, accounts payable, accrued expenses and other current liabilities and borrowings under our credit facility approximate fair value based upon either the short maturities or variable interest rates of these instruments. | |||
Derivatives, Policy [Policy Text Block] | ' | ||
Derivative Instruments | |||
The Company utilizes derivative instruments, principally foreign exchange forward contracts, to manage certain exposures to changes in foreign exchange rates. The Company’s contracts are hedges for transactions with notional balances and periods consistent with the related exposures and do not constitute investments independent of these exposures. These contracts, which are designated and documented as cash flow hedges, qualify for hedge accounting treatment. Exposure to counterparty credit risk is considered low because these agreements have been entered into with high quality financial institutions. | |||
All derivative instruments are recognized on the balance sheet at fair value. The effective portion of changes in the fair value of derivative instruments that qualify for hedge accounting treatment are recognized in stockholders’ equity until the hedged item is recognized in earnings. Changes in the fair value of derivatives that do not qualify for hedge treatment, as well as the ineffective portion of any hedges, are recognized currently in earnings. | |||
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | ' | ||
Stock Based Compensation | |||
The Company has employee and director stock based compensation plans. The fair value of employee stock options is determined on the date of grant using the Black-Scholes option pricing model. The Company has used historical volatility in its estimate of expected volatility. The expected life represents the period of time (in years) for which the options granted are expected to be outstanding. The risk-free interest rate is based on the U.S. Treasury yield curve. Restricted stock awards are valued at the market value of our common stock on the date of grant. | |||
The fair value of stock based compensation awards is recognized in expense over the vesting period of the award, using the straight-line method. For restricted stock awards which include performance criteria, compensation expense is recorded when the achievement of the performance criteria is probable and is recognized over the performance and vesting service periods. Compensation expense is recognized for only that portion of stock based awards that are expected to vest. Therefore, we apply estimated forfeiture rates that are derived from historical employee termination activity to reduce the amount of compensation expense recognized. If the actual forfeitures differ from the estimate, additional adjustments to compensation expense may be required in future periods. | |||
The Company receives an income tax deduction in certain tax jurisdictions for restricted stock grants when they vest and for stock options exercised by employees equal to the excess of the market value of our common stock on the date of exercise over the option price. Excess tax benefits (tax benefits resulting from tax deductions in excess of compensation cost recognized) are classified as a cash flow provided by financing activities in the accompanying Consolidated Statements of Cash Flows. | |||
Impairment or Disposal of Long-Lived Assets, Including Intangible Assets, Policy [Policy Text Block] | ' | ||
Valuation of Long-Lived Assets | |||
We periodically evaluate the carrying value of long-lived assets, other than goodwill and intangible assets with indefinite lives, held and used in the business when events and circumstances occur indicating that the carrying amount of the asset may not be recoverable. An impairment test is performed when the estimated undiscounted cash flows associated with the asset or group of assets is less than their carrying value. Once such impairment test is performed, a loss is recognized based on the amount, if any, by which the carrying value exceeds the fair value for assets to be held and used. | |||
Deferred Charges, Policy [Policy Text Block] | ' | ||
Deferred Financing Costs | |||
Costs associated with obtaining debt financing are capitalized and amortized over the related term of the applicable debt instruments on a straight-line basis, which approximates the effective interest method. | |||
New Accounting Pronouncements, Policy [Policy Text Block] | ' | ||
Newly Adopted Accounting Pronouncements | |||
In February 2013, the Financial Accounting Standards Board issued Accounting Standards Update (“ASU”) No. 2013-02, Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income, which requires an entity to provide information about the amounts reclassified out of accumulated other comprehensive income by component. We adopted ASU No. 2013-02 on a prospective basis at the beginning of our 2014 fiscal year. Refer to Note 12 for disclosures required under this standard. | |||
Recently Issued Accounting Pronouncements Not Yet Effective | |||
In April 2014, the FASB issued ASU No. 2014-08, Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity. ASU No. 2014-08 amends the requirements for reporting and disclosing discontinued operations. Under ASU No. 2014-08, a disposal of a component of an entity or a group of components of an entity is required to be reported in discontinued operations if the disposal represents a strategic shift that has (or will have) a major effect on the entity’s operations and financial results. ASU No. 2014-08 is effective for interim and annual periods beginning after December 15, 2014, with early adoption permitted and is to be applied prospectively. The Company has elected to early adopt the provisions of ASU No. 2014-08 at the beginning of fiscal 2015. The adoption of the new guidance may impact the reporting and disclosure of any future disposals we complete. | |||
In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606). ASU No. 2014-09 supersedes the revenue recognition requirements in Topic 605, Revenue Recognition, and most industry-specific guidance throughout the Industry Topics of the Codification. Additionally, ASU No. 2014-09 supersedes some cost guidance included in Subtopic 605-35, Revenue Recognition-Construction-Type and Production-Type Contracts. Under ASU No. 2014-09, an entity should recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. ASU No. 2014-09 also requires additional disclosure about the nature, amount, timing, and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to obtain or fulfill a contract. ASU No. 2014-09 is effective for interim and annual periods beginning after December 15, 2016, with early application prohibited. ASU No. 2014-09 allows for either full retrospective or modified retrospective adoption. The Company is evaluating the transition method that will be elected and the potential effects of adopting the provisions of ASU No. 2014-09. |
Summary_of_Significant_Account2
Summary of Significant Accounting Policies (Tables) | 12 Months Ended | |||||||
Jun. 30, 2014 | ||||||||
Accounting Policies [Abstract] | ' | |||||||
Property, Plant and Equipment [Table Text Block] | ' | |||||||
We utilize the following ranges of asset lives: | ||||||||
Buildings and improvements | 10-40 years | |||||||
Machinery and equipment | 3-20 years | |||||||
Furniture and fixtures | 3-15 years | |||||||
Property, plant and equipment consisted of the following: | ||||||||
June 30, | June 30, | |||||||
2014 | 2013 | |||||||
Land | $ | 34,021 | $ | 16,149 | ||||
Buildings and improvements | 75,895 | 61,480 | ||||||
Machinery and equipment | 329,680 | 264,198 | ||||||
Furniture and fixtures | 10,352 | 9,774 | ||||||
Leasehold improvements | 21,836 | 17,760 | ||||||
Construction in progress | 4,850 | 4,669 | ||||||
476,634 | 374,030 | |||||||
Less: Accumulated depreciation and amortization | 165,973 | 138,189 | ||||||
$ | 310,661 | $ | 235,841 | |||||
Earnings_Per_Share_Tables
Earnings Per Share (Tables) | 12 Months Ended | |||||||||||
Jun. 30, 2014 | ||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||
Computation Of Basic And Diluted Earnings Per Share | ' | |||||||||||
The following table sets forth the computation of basic and diluted earnings per share: | ||||||||||||
Fiscal Year ended June 30, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Numerator: | ||||||||||||
Income from continuing operations | $ | 141,480 | $ | 119,793 | $ | 94,214 | ||||||
(Loss) from discontinued operations, net of tax | (1,629 | ) | (5,137 | ) | (14,989 | ) | ||||||
Net income | $ | 139,851 | $ | 114,656 | $ | 79,225 | ||||||
Denominator (in thousands): | ||||||||||||
Denominator for basic earnings per share - weighted average shares outstanding during the period | 48,875 | 46,176 | 44,360 | |||||||||
Effect of dilutive stock options, unvested restricted stock and unvested restricted share units | 1,128 | 1,396 | 1,487 | |||||||||
Denominator for diluted earnings per share - adjusted weighted average shares and assumed conversions | 50,003 | 47,572 | 45,847 | |||||||||
Basic net income/(loss) per common share: | ||||||||||||
From continuing operations | $ | 2.89 | $ | 2.59 | $ | 2.12 | ||||||
From discontinued operations | (0.03 | ) | (0.11 | ) | (0.33 | ) | ||||||
Net income per common share - basic | $ | 2.86 | $ | 2.48 | $ | 1.79 | ||||||
Diluted net income/(loss) per common share: | ||||||||||||
From continuing operations | $ | 2.83 | $ | 2.52 | $ | 2.05 | ||||||
From discontinued operations | (0.03 | ) | (0.11 | ) | (0.32 | ) | ||||||
Net income per common share - diluted | $ | 2.8 | $ | 2.41 | $ | 1.73 | ||||||
Acquisitions_and_Disposals_Tab
Acquisitions and Disposals (Tables) | 12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 | ||||||||||||||||||||||||||||||||||||||||||
Business Combinations [Abstract] | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||||
Schedule of Business Acquisitions, by Acquisition [Table Text Block] | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||||
The following table summarizes the components of the preliminary purchase price allocations for the fiscal 2014 acquisitions: | The following table summarizes the components of the purchase price allocations for the fiscal 2013 acquisitions: | The following table summarizes the components of the purchase price allocations for the fiscal 2012 acquisitions: | ||||||||||||||||||||||||||||||||||||||||||
Tilda | Rudi’s | Total | ||||||||||||||||||||||||||||||||||||||||||
Purchase price: | UK Ambient Grocery Brands | BluePrint | Ella’s Kitchen | Total | Daniels | Europe’s | Cully & Sully | Total | ||||||||||||||||||||||||||||||||||||
Cash paid | $ | 126,340 | $ | 50,649 | $ | 176,989 | Purchase price: | Best | ||||||||||||||||||||||||||||||||||||
Cash paid | $ | 273,246 | $ | 16,679 | $ | 58,437 | $ | 348,362 | Purchase price: | |||||||||||||||||||||||||||||||||||
Equity issued | 148,353 | 11,168 | 159,521 | Cash paid | $ | 233,822 | $ | 9,513 | $ | 13,835 | $ | 257,170 | ||||||||||||||||||||||||||||||||
Equity issued | 48,061 | 9,525 | 45,050 | 102,636 | ||||||||||||||||||||||||||||||||||||||||
Vendor loan note | 32,958 | — | 32,958 | Fair value of contingent consideration | 15,637 | — | 3,363 | 19,000 | ||||||||||||||||||||||||||||||||||||
Fair value of contingent consideration | — | 13,491 | — | 13,491 | ||||||||||||||||||||||||||||||||||||||||
$ | 307,651 | $ | 61,817 | $ | 369,468 | $ | 249,459 | $ | 9,513 | $ | 17,198 | $ | 276,170 | |||||||||||||||||||||||||||||||
$ | 321,307 | $ | 39,695 | $ | 103,487 | $ | 464,489 | |||||||||||||||||||||||||||||||||||||
Allocation: | Allocation: | |||||||||||||||||||||||||||||||||||||||||||
Current assets | $ | 86,828 | $ | 7,399 | $ | 94,227 | Allocation: | Current assets | $ | 55,639 | $ | 7,157 | $ | 1,549 | $ | 64,345 | ||||||||||||||||||||||||||||
Current assets | $ | 29,825 | $ | 2,742 | $ | 27,749 | $ | 60,316 | ||||||||||||||||||||||||||||||||||||
Property, plant and equipment | 39,898 | 3,774 | 43,672 | Property, plant and equipment | 46,799 | — | 35 | 46,834 | ||||||||||||||||||||||||||||||||||||
Property, plant and equipment | 39,150 | 3,173 | 672 | 42,995 | ||||||||||||||||||||||||||||||||||||||||
Other Assets | — | 659 | 659 | Identifiable intangible assets | 100,290 | 2,706 | 11,693 | 114,689 | ||||||||||||||||||||||||||||||||||||
Identifiable intangible assets | 118,020 | 18,980 | 49,669 | 186,669 | ||||||||||||||||||||||||||||||||||||||||
Identifiable intangible assets | 124,549 | 33,130 | 157,679 | Other non-current assets, net | 1,108 | — | — | 1,108 | ||||||||||||||||||||||||||||||||||||
Assumed liabilities | (2,693 | ) | (2,189 | ) | (15,064 | ) | (19,946 | ) | ||||||||||||||||||||||||||||||||||||
Assumed liabilities | (92,971 | ) | (6,332 | ) | (99,303 | ) | Deferred income taxes | 2,882 | — | (11,789 | ) | (8,907 | ) | Assumed liabilities | (46,431 | ) | (184 | ) | (1,342 | ) | (47,957 | ) | ||||||||||||||||||||||
Deferred income taxes | (25,936 | ) | (37 | ) | (25,973 | ) | Deferred income taxes | (27,197 | ) | (166 | ) | (1,462 | ) | (28,825 | ) | |||||||||||||||||||||||||||||
Goodwill | 175,283 | 23,224 | 198,507 | Goodwill | 134,123 | 16,989 | 52,250 | 203,362 | Goodwill | 119,251 | — | 6,725 | 125,976 | |||||||||||||||||||||||||||||||
$ | 307,651 | $ | 61,817 | $ | 369,468 | $ | 321,307 | $ | 39,695 | $ | 103,487 | $ | 464,489 | $ | 249,459 | $ | 9,513 | $ | 17,198 | $ | 276,170 | |||||||||||||||||||||||
Unaudited Pro Forma Results Of Operations [Table Text Block] | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||||
Fiscal Year ended June 30, | Fiscal Year ended June 30, | |||||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2013 | 2012 | |||||||||||||||||||||||||||||||||||||||||
Net sales from continuing operations | $ | 2,310,540 | $ | 1,970,371 | Net sales from continuing operations | $ | 1,897,924 | $ | 1,695,431 | |||||||||||||||||||||||||||||||||||
Net income from continuing operations | $ | 151,534 | $ | 139,085 | Net income from continuing operations | $ | 137,009 | $ | 115,299 | |||||||||||||||||||||||||||||||||||
Net income per common share from continuing operations - diluted | $ | 2.97 | $ | 2.82 | Net income per common share from continuing operations - diluted | $ | 2.82 | $ | 2.43 | |||||||||||||||||||||||||||||||||||
Acquisitions_and_Disposals_Bus
Acquisitions and Disposals Business Acquisition, Pro Forma Results (Tables) | 12 Months Ended | |||||||||||||||||
Jun. 30, 2014 | Jun. 30, 2013 | |||||||||||||||||
Business Combinations [Abstract] | ' | ' | ||||||||||||||||
Business Acquisition, Pro Forma Information [Table Text Block] | ' | ' | ||||||||||||||||
Fiscal Year ended June 30, | Fiscal Year ended June 30, | |||||||||||||||||
2014 | 2013 | 2013 | 2012 | |||||||||||||||
Net sales from continuing operations | $ | 2,310,540 | $ | 1,970,371 | Net sales from continuing operations | $ | 1,897,924 | $ | 1,695,431 | |||||||||
Net income from continuing operations | $ | 151,534 | $ | 139,085 | Net income from continuing operations | $ | 137,009 | $ | 115,299 | |||||||||
Net income per common share from continuing operations - diluted | $ | 2.97 | $ | 2.82 | Net income per common share from continuing operations - diluted | $ | 2.82 | $ | 2.43 | |||||||||
Discontinued_Operations_Discon
Discontinued Operations Discontinued Operations (Tables) | 12 Months Ended | |||||||||||
Jun. 30, 2014 | ||||||||||||
Discontinued Operations and Disposal Groups [Abstract] | ' | |||||||||||
Schedule of Operating Results for Discontinued Operations [Table Text Block] | ' | |||||||||||
Summarized results of our discontinued operations are as follows: | ||||||||||||
Fiscal Year ended June 30, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Net sales | $ | — | $ | 15,313 | $ | 73,743 | ||||||
Impairment charges | $ | — | $ | — | $ | (14,880 | ) | |||||
Operating loss | $ | — | $ | (1,176 | ) | $ | (16,822 | ) | ||||
Loss on sale of business, net of tax | $ | (1,629 | ) | $ | (4,200 | ) | $ | — | ||||
Loss from discontinued operations, net of tax | $ | (1,629 | ) | $ | (5,137 | ) | $ | (14,989 | ) | |||
(1) The loss on sale of business for the fiscal year ended June 30, 2014 includes a $2,777 loss related to the Grains Noirs disposal, offset partially by a $1,148 gain related to the finalization of a working capital adjustment on the sale of the CRM business. | ||||||||||||
Schedule of Impairment Charge for Discontinued Operations [Table Text Block] | ' | |||||||||||
The following represents a summary of the impairment charges recorded during the fourth quarter of fiscal 2012 related to our discontinued operations. | ||||||||||||
Customer relationships | $ | 1,756 | ||||||||||
Tradenames | 8,541 | |||||||||||
Goodwill | 2,433 | |||||||||||
Cumulative currency translation adjustment recognized | 2,150 | |||||||||||
Total impairment charges | $ | 14,880 | ||||||||||
Inventories_Tables
Inventories (Tables) | 12 Months Ended | |||||||
Jun. 30, 2014 | ||||||||
Inventory, Net [Abstract] | ' | |||||||
Components Of Inventories | ' | |||||||
Inventories consisted of the following: | ||||||||
June 30, | June 30, | |||||||
2014 | 2013 | |||||||
Finished goods | $ | 190,818 | $ | 163,288 | ||||
Raw materials, work-in-progress and packaging | 129,433 | 86,887 | ||||||
$ | 320,251 | $ | 250,175 | |||||
Property_Plant_And_Equipment_T
Property, Plant And Equipment (Tables) | 12 Months Ended | |||||||
Jun. 30, 2014 | ||||||||
Property, Plant and Equipment [Abstract] | ' | |||||||
Property, Plant and Equipment [Table Text Block] | ' | |||||||
We utilize the following ranges of asset lives: | ||||||||
Buildings and improvements | 10-40 years | |||||||
Machinery and equipment | 3-20 years | |||||||
Furniture and fixtures | 3-15 years | |||||||
Property, plant and equipment consisted of the following: | ||||||||
June 30, | June 30, | |||||||
2014 | 2013 | |||||||
Land | $ | 34,021 | $ | 16,149 | ||||
Buildings and improvements | 75,895 | 61,480 | ||||||
Machinery and equipment | 329,680 | 264,198 | ||||||
Furniture and fixtures | 10,352 | 9,774 | ||||||
Leasehold improvements | 21,836 | 17,760 | ||||||
Construction in progress | 4,850 | 4,669 | ||||||
476,634 | 374,030 | |||||||
Less: Accumulated depreciation and amortization | 165,973 | 138,189 | ||||||
$ | 310,661 | $ | 235,841 | |||||
Goodwill_And_Other_Intangible_1
Goodwill And Other Intangible Assets (Tables) | 12 Months Ended | |||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | |||||||||||||||||||
Changes In Carrying Amount Of Goodwill | ' | |||||||||||||||||||
Changes in the carrying amount of goodwill by reportable segment for the fiscal years ended June 30, 2014 and 2013 were as follows: | ||||||||||||||||||||
US | United Kingdom | Rest of World | Total | |||||||||||||||||
Balance as of June 30, 2012 (a) | $ | 512,117 | $ | 120,600 | $ | 69,839 | $ | 702,556 | ||||||||||||
Acquisition activity | 63,598 | 121,617 | — | 185,215 | ||||||||||||||||
Translation adjustments, net | (1,157 | ) | (9,368 | ) | (1,140 | ) | (11,665 | ) | ||||||||||||
Balance as of June 30, 2013 (a) | $ | 574,558 | $ | 232,849 | $ | 68,699 | $ | 876,106 | ||||||||||||
Acquisition activity | 27,766 | 190,772 | 520 | 219,058 | ||||||||||||||||
Translation and other adjustments, net | 5,002 | 34,197 | 5 | 39,204 | ||||||||||||||||
Balance as of June 30, 2014 (a) | $ | 607,326 | $ | 457,818 | $ | 69,224 | $ | 1,134,368 | ||||||||||||
(a) The total carrying value of goodwill for all periods in the table above is reflected net of $42,029 of accumulated impairment charges recorded during fiscal 2009 which relate to the Company’s United Kingdom and Europe operating segments. | ||||||||||||||||||||
Components Of Trademarks And Other Intangible Assets | ' | |||||||||||||||||||
The following table reflects the components of trademarks and other intangible assets: | ||||||||||||||||||||
June 30, | June 30, | |||||||||||||||||||
2014 | 2013 | |||||||||||||||||||
Non-amortized intangible assets: | ||||||||||||||||||||
Trademarks and tradenames | $ | 498,068 | $ | 376,700 | ||||||||||||||||
Amortized intangible assets: | ||||||||||||||||||||
Other intangibles | 206,071 | 156,728 | ||||||||||||||||||
Less: accumulated amortization | (52,657 | ) | (35,193 | ) | ||||||||||||||||
Net carrying amount | $ | 651,482 | $ | 498,235 | ||||||||||||||||
Finite-lived Intangible Assets Amortization Expense [Table Text Block] | ' | |||||||||||||||||||
Amortization expense included in continuing operations was as follows: | ||||||||||||||||||||
Fiscal Year ended June 30, | ||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||
Amortization of intangible assets | $ | 15,600 | $ | 12,398 | $ | 9,150 | ||||||||||||||
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | ' | |||||||||||||||||||
Expected amortization expense over the next five fiscal years is as follows: | ||||||||||||||||||||
Fiscal Year ended June 30, | ||||||||||||||||||||
2015 | 2016 | 2017 | 2018 | 2019 | ||||||||||||||||
Estimated amortization expense | $ | 17,826 | $ | 17,424 | $ | 16,734 | $ | 16,551 | $ | 14,127 | ||||||||||
Accrued_Expenses_and_Other_Cur1
Accrued Expenses and Other Current Liabilities (Tables) | 12 Months Ended | |||||||
Jun. 30, 2014 | ||||||||
Accrued Liabilities, Current [Abstract] | ' | |||||||
Schedule of Accrued Liabilities [Table Text Block] | ' | |||||||
Accrued expenses and other current liabilities consisted of the following: | ||||||||
June 30, | June 30, | |||||||
2014 | 2013 | |||||||
Payroll, employee benefits and other administrative accruals | $ | 54,171 | $ | 40,146 | ||||
Selling and marketing related accruals | 11,310 | 9,742 | ||||||
Contingent consideration, current portion | 5,611 | 10,283 | ||||||
Other | 13,814 | 16,486 | ||||||
$ | 84,906 | $ | 76,657 | |||||
Debt_and_Borrowings_Debt_and_B
Debt and Borrowings Debt and Borrowings (Tables) | 12 Months Ended | |||||||
Jun. 30, 2014 | ||||||||
Debt Disclosure [Abstract] | ' | |||||||
Schedule of Long-term Debt Instruments [Table Text Block] | ' | |||||||
Debt and borrowings consisted of the following: | ||||||||
June 30, | June 30, | |||||||
2014 | 2013 | |||||||
Senior Notes | $ | 150,000 | $ | 150,000 | ||||
Revolving Credit Agreement borrowings payable to banks | 614,502 | 503,384 | ||||||
United Kingdom short-term borrowing arrangements | — | 11,779 | ||||||
Tilda short-term borrowing arrangements | 65,975 | — | ||||||
Vendor Loan Note (see note 4) | 34,056 | — | ||||||
Other borrowings | 3,390 | 778 | ||||||
867,923 | 665,941 | |||||||
Short-term borrowings and current portion of long-term debt | 100,096 | 12,477 | ||||||
$ | 767,827 | $ | 653,464 | |||||
Schedule of Maturities of Long-term Debt [Table Text Block] | ' | |||||||
Maturities of all debt instruments at June 30, 2014, are as follows: | ||||||||
Due in Fiscal Year | Amount | |||||||
2015 | $ | 100,096 | ||||||
2016 | 151,327 | |||||||
2017 | 1,327 | |||||||
2018 | 615,173 | |||||||
$ | 867,923 | |||||||
Income_Taxes_Income_Taxes_Tabl
Income Taxes Income Taxes (Tables) | 12 Months Ended | ||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||||||||||
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] | ' | ||||||||||||||||||||
The components of income before income taxes and equity in earnings of equity-method investees were as follows: | |||||||||||||||||||||
Fiscal Year ended June 30, | |||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||
Domestic | $ | 157,492 | $ | 130,908 | $ | 111,255 | |||||||||||||||
Foreign | 50,102 | 22,914 | 22,973 | ||||||||||||||||||
Total | $ | 207,594 | $ | 153,822 | $ | 134,228 | |||||||||||||||
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | ' | ||||||||||||||||||||
The provision for income taxes is presented below. | |||||||||||||||||||||
Fiscal Year ended June 30, | |||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||
Current: | |||||||||||||||||||||
Federal | $ | 46,722 | $ | 31,370 | $ | 28,983 | |||||||||||||||
State and local | 7,891 | 3,792 | 3,414 | ||||||||||||||||||
Foreign | 16,836 | 6,565 | 6,050 | ||||||||||||||||||
71,449 | 41,727 | 38,447 | |||||||||||||||||||
Deferred: | |||||||||||||||||||||
Federal | 2,287 | (4,064 | ) | 3,963 | |||||||||||||||||
State and local | 372 | (405 | ) | 493 | |||||||||||||||||
Foreign | (4,009 | ) | (2,934 | ) | (1,749 | ) | |||||||||||||||
(1,350 | ) | (7,403 | ) | 2,707 | |||||||||||||||||
Total | $ | 70,099 | $ | 34,324 | $ | 41,154 | |||||||||||||||
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | ' | ||||||||||||||||||||
Reconciliations of expected income taxes at the U.S. federal statutory rate of 35% to the Company’s provision for income taxes for the fiscal years ended June 30 were as follows: | |||||||||||||||||||||
2014 | % | 2013 | % | 2012 | % | ||||||||||||||||
Expected U.S. federal income tax at statutory rate | $ | 72,659 | 35 | % | $ | 53,838 | 35 | % | $ | 46,980 | 35 | % | |||||||||
State income taxes, net of federal benefit | 5,371 | 2.6 | % | 3,278 | 2.1 | % | 3,267 | 2.4 | % | ||||||||||||
Domestic manufacturing deduction | (2,482 | ) | (1.2 | )% | (2,563 | ) | (1.7 | )% | (2,275 | ) | (1.7 | )% | |||||||||
Foreign income at different rates | (4,842 | ) | (2.3 | )% | (4,950 | ) | (3.2 | )% | (11,513 | ) | (8.6 | )% | |||||||||
Worthless stock deduction | — | — | % | (13,186 | ) | (8.6 | )% | — | — | % | |||||||||||
Reduction of deferred tax liabilities resulting from change in United Kingdom tax rate | (3,739 | ) | (1.8 | )% | (2,288 | ) | (1.4 | )% | — | — | % | ||||||||||
Contingent consideration expense reversal | — | — | % | — | — | % | 5,434 | 4 | % | ||||||||||||
Other | 3,132 | 1.5 | % | 195 | 0.1 | % | (739 | ) | (0.4 | )% | |||||||||||
Provision for income taxes | $ | 70,099 | 33.8 | % | $ | 34,324 | 22.3 | % | $ | 41,154 | 30.7 | % | |||||||||
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | ' | ||||||||||||||||||||
Components of our deferred tax assets (liabilities) were as follows: | |||||||||||||||||||||
June 30, 2014 | June 30, 2013 | ||||||||||||||||||||
Current deferred tax assets: | |||||||||||||||||||||
Basis difference on inventory | $ | 5,995 | $ | 5,604 | |||||||||||||||||
Reserves not currently deductible | 17,365 | 11,941 | |||||||||||||||||||
Other | 420 | 171 | |||||||||||||||||||
Current deferred tax assets | 23,780 | 17,716 | |||||||||||||||||||
Noncurrent deferred tax assets/(liabilities): | |||||||||||||||||||||
Basis difference on intangible assets | (143,478 | ) | (107,011 | ) | |||||||||||||||||
Basis difference on property and equipment | (17,782 | ) | (11,236 | ) | |||||||||||||||||
Other comprehensive income | (7,969 | ) | (9,056 | ) | |||||||||||||||||
Net operating loss and tax credit carryforwards | 24,067 | 17,666 | |||||||||||||||||||
Stock based compensation | 6,526 | 5,354 | |||||||||||||||||||
Other | 27 | 344 | |||||||||||||||||||
Valuation allowances | (9,830 | ) | (10,456 | ) | |||||||||||||||||
Noncurrent deferred tax liabilities, net | (148,439 | ) | (114,395 | ) | |||||||||||||||||
Total net deferred tax liabilities | $ | (124,659 | ) | $ | (96,679 | ) | |||||||||||||||
Summary of Valuation Allowance [Table Text Block] | ' | ||||||||||||||||||||
The changes in valuation allowances against deferred income tax assets were as follows: | |||||||||||||||||||||
Fiscal Year ended June 30, | |||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||
Balance at beginning of year | $ | 10,456 | $ | 11,183 | |||||||||||||||||
Additions charged to income tax expense | 2,226 | 530 | |||||||||||||||||||
Reductions credited to income tax expense | (760 | ) | (1,690 | ) | |||||||||||||||||
Net change from liquidations, tax rate changes and other | (3,036 | ) | 748 | ||||||||||||||||||
Currency translation adjustments | 944 | (315 | ) | ||||||||||||||||||
Balance at end of year | $ | 9,830 | $ | 10,456 | |||||||||||||||||
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block] | ' | ||||||||||||||||||||
Unrecognized tax benefits, including interest and penalties, activity is summarized below: | |||||||||||||||||||||
Fiscal Year ended June 30, | |||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||
Balance at beginning of year | $ | 2,507 | $ | 1,337 | $ | 1,472 | |||||||||||||||
Additions based on tax positions related to prior years | 750 | 574 | 15 | ||||||||||||||||||
Additions for acquired companies | — | 941 | 690 | ||||||||||||||||||
Reductions due to lapse in statute of limitations and settlements | (906 | ) | (345 | ) | (840 | ) | |||||||||||||||
Balance at end of year | $ | 2,351 | $ | 2,507 | $ | 1,337 | |||||||||||||||
Stockholders_Equity_Tables
Stockholders' Equity (Tables) | 12 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Stockholders' Equity Note [Abstract] | ' | ||||||||||||||||
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | ' | ||||||||||||||||
The following table presents the changes in the balance of each component of accumulated other comprehensive income (loss): | |||||||||||||||||
Foreign currency translation adjustments | Unrealized gain on available for sale investment | Deferred gains/(losses) on cash flow hedging instruments | Total | ||||||||||||||
Balance as of June 30, 2013 | $ | (30,797 | ) | $ | 2,747 | $ | 799 | $ | (27,251 | ) | |||||||
Other comprehensive income (loss) before reclassifications (1) | 90,625 | (1,121 | ) | (1,214 | ) | 88,290 | |||||||||||
Amounts reclassified into (income) loss (2) (3) | — | (721 | ) | (190 | ) | (911 | ) | ||||||||||
Net change in accumulated other comprehensive income (loss) for the fiscal year ended June 30, 2014 | 90,625 | (1,842 | ) | (1,404 | ) | 87,379 | |||||||||||
Balance as of June 30, 2014 | $ | 59,828 | $ | 905 | $ | (605 | ) | $ | 60,128 | ||||||||
Stock_Based_Compensation_And_I1
Stock Based Compensation And Incentive Performance Plans (Tables) | 12 Months Ended | ||||||||||||||
Jun. 30, 2014 | |||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||||||||
Compensation Cost And Related Income Tax Benefits Recognized | ' | ||||||||||||||
Compensation cost and related income tax benefits recognized in the Consolidated Statements of Income for stock based compensation plans were as follows: | |||||||||||||||
Fiscal Year ended June 30, | |||||||||||||||
2014 | 2013 | 2012 | |||||||||||||
Compensation cost (included in selling, general and administrative expense) | $ | 12,448 | $ | 13,010 | $ | 8,290 | |||||||||
Related income tax benefit | $ | 4,787 | $ | 4,969 | $ | 3,019 | |||||||||
Summary Of Stock Option Activity | ' | ||||||||||||||
A summary of our stock option activity for the three fiscal years ended June 30, 2014 is as follows: | |||||||||||||||
2014 | Weighted | 2013 | Weighted | 2012 | Weighted | ||||||||||
Average | Average | Average | |||||||||||||
Exercise | Exercise | Exercise | |||||||||||||
Price | Price | Price | |||||||||||||
Outstanding at beginning of year | 1,778,752 | $18.88 | 2,580,433 | $18.00 | 3,497,752 | $17.35 | |||||||||
Exercised | (441,307 | ) | $16.59 | (795,281 | ) | $16.05 | (914,119 | ) | $15.51 | ||||||
Canceled and expired | (300 | ) | $16.01 | (6,400 | ) | $14.87 | (3,200 | ) | $16.11 | ||||||
Outstanding at end of year | 1,337,145 | $19.65 | 1,778,752 | $18.88 | 2,580,433 | $18.00 | |||||||||
Options exercisable at end of year | 1,337,145 | $19.65 | 1,735,427 | $18.90 | 2,289,642 | $18.55 | |||||||||
Schedule Of Cash Proceeds Received From Share-Based Payment Awards | ' | ||||||||||||||
Fiscal Year ended June 30, | |||||||||||||||
2014 | 2013 | 2012 | |||||||||||||
Intrinsic value of options exercised | $ | 29,778 | $ | 39,562 | $ | 23,798 | |||||||||
Cash received from stock option exercises | $ | 7,320 | $ | 12,763 | $ | 14,179 | |||||||||
Tax benefit recognized from stock option exercises | $ | 11,584 | $ | 14,468 | $ | 8,811 | |||||||||
Non-Vested Restricted Stock And Restricted Share Unit Awards | ' | ||||||||||||||
A summary of our restricted stock and restricted share units activity for the three fiscal years ended June 30, 2014 is as follows: | |||||||||||||||
2014 | Weighted | 2013 | Weighted | 2012 | Weighted | ||||||||||
Average Grant | Average Grant | Average Grant | |||||||||||||
Date Fair | Date Fair | Date Fair | |||||||||||||
Value | Value | Value | |||||||||||||
(per share) | (per share) | (per share) | |||||||||||||
Non-vested restricted stock and restricted share units – beginning of year | 773,568 | $42.44 | 487,409 | $29.94 | 407,231 | $22.43 | |||||||||
Granted | 112,396 | $82.77 | 561,532 | $45.60 | 235,824 | $35.47 | |||||||||
Vested | (238,145 | ) | $38.17 | (265,819 | ) | $26.23 | (136,031 | ) | $17.51 | ||||||
Forfeited | (18,447 | ) | $57.44 | (9,554 | ) | $38.73 | (19,615 | ) | $26.71 | ||||||
Non-vested restricted stock and restricted share units – end of year | 629,372 | $50.87 | 773,568 | $42.44 | 487,409 | $29.94 | |||||||||
Restricted Stock Grant Information | ' | ||||||||||||||
Fiscal Year ended June 30, | |||||||||||||||
2014 | 2013 | 2012 | |||||||||||||
Fair value of restricted stock and restricted share units granted | $ | 9,303 | $ | 25,606 | $ | 8,364 | |||||||||
Fair value of shares vested | $ | 19,905 | $ | 16,547 | $ | 5,098 | |||||||||
Tax benefit recognized from restricted shares vesting | $ | 7,535 | $ | 6,253 | $ | 1,914 | |||||||||
Financial_Instruments_Measured1
Financial Instruments Measured At Fair Value (Tables) | 12 Months Ended | |||||||||||||||||||||||||||||||
Jun. 30, 2014 | Jun. 30, 2013 | |||||||||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ' | ||||||||||||||||||||||||||||||
Assets And Liabilities Measured At Fair Value On A Recurring Basis | ' | ' | ||||||||||||||||||||||||||||||
The following table presents by level within the fair value hierarchy assets and liabilities measured at fair value on a recurring basis as of June 30, 2014: | The following table presents assets and liabilities measured at fair value on a recurring basis as of June 30, 2013: | |||||||||||||||||||||||||||||||
Total | Quoted | Significant | Significant | Total | Quoted | Significant | Significant | |||||||||||||||||||||||||
prices in | other | unobservable | prices in | other | unobservable | |||||||||||||||||||||||||||
active | observable | inputs | active | observable | inputs | |||||||||||||||||||||||||||
markets | inputs | (Level 3) | markets | inputs | (Level 3) | |||||||||||||||||||||||||||
(Level 1) | (Level 2) | (Level 1) | (Level 2) | |||||||||||||||||||||||||||||
Assets: | Assets: | |||||||||||||||||||||||||||||||
Cash equivalents | $ | 31,902 | $ | 31,902 | $ | — | — | Cash equivalents | $ | 6,200 | $ | 6,200 | $ | — | — | |||||||||||||||||
Forward foreign currency contracts | 391 | — | 391 | — | Forward foreign currency contracts | 1,066 | — | 1,066 | — | |||||||||||||||||||||||
Available for sale securities | 5,314 | 5,314 | — | — | Available for sale securities | 11,237 | 11,237 | — | — | |||||||||||||||||||||||
$ | 37,607 | $ | 37,216 | $ | 391 | — | $ | 18,503 | $ | 17,437 | $ | 1,066 | — | |||||||||||||||||||
Liabilities: | Liabilities: | |||||||||||||||||||||||||||||||
Forward foreign currency contracts | $ | 1,168 | — | $ | 1,168 | — | Contingent consideration, of which $12,531 is noncurrent | $ | 22,814 | — | — | $ | 22,814 | |||||||||||||||||||
Contingent consideration, of which $2,669 is noncurrent | 8,280 | — | — | $ | 8,280 | Total | $ | 22,814 | — | — | $ | 22,814 | ||||||||||||||||||||
Total | $ | 9,448 | — | 1,168 | $ | 8,280 | ||||||||||||||||||||||||||
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | ' | ' | ||||||||||||||||||||||||||||||
The following table summarizes the Level 3 activity: | ||||||||||||||||||||||||||||||||
Fiscal Year ended June 30, | ||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||
Balance at beginning of year | $ | 22,814 | $ | 6,582 | ||||||||||||||||||||||||||||
Fair value of initial contingent consideration | — | 13,491 | ||||||||||||||||||||||||||||||
Contingent consideration adjustment and accretion of | (3,026 | ) | 2,487 | |||||||||||||||||||||||||||||
interest expense, net | ||||||||||||||||||||||||||||||||
Contingent consideration paid | (11,800 | ) | — | |||||||||||||||||||||||||||||
Translation adjustment | 292 | 254 | ||||||||||||||||||||||||||||||
Balance at end of year | $ | 8,280 | $ | 22,814 | ||||||||||||||||||||||||||||
Commitments_And_Contingencies_
Commitments And Contingencies Commitments And Contingencies (Tables) | 12 Months Ended | |||
Jun. 30, 2014 | ||||
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract] | ' | |||
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | ' | |||
The aggregate minimum future lease payments for these operating leases at June 30, 2014, are as follows: | ||||
Fiscal Year | ||||
2015 | $ | 16,075 | ||
2016 | 11,024 | |||
2017 | 8,185 | |||
2018 | 6,733 | |||
2019 | 6,165 | |||
Thereafter | 51,012 | |||
$ | 99,194 | |||
Segment_Information_Tables
Segment Information (Tables) | 12 Months Ended | |||||||||||
Jun. 30, 2014 | ||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||
Schedule of Segment Reporting Information, by Segment [Table Text Block] | ' | |||||||||||
The following tables set forth financial information about each of the Company’s reportable segments. Transactions between reportable segments were insignificant for all periods presented. | ||||||||||||
Fiscal Years ended June 30, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Net Sales: (1) | ||||||||||||
United States | $ | 1,282,175 | $ | 1,095,867 | $ | 991,626 | ||||||
United Kingdom | 637,454 | 420,408 | 192,352 | |||||||||
Rest of World | 233,982 | 218,408 | 194,269 | |||||||||
$ | 2,153,611 | $ | 1,734,683 | $ | 1,378,247 | |||||||
Operating Income: | ||||||||||||
United States | $ | 211,864 | $ | 177,352 | $ | 149,791 | ||||||
United Kingdom | 52,661 | 31,069 | 9,690 | |||||||||
Rest of World | 17,397 | 18,671 | 13,347 | |||||||||
$ | 281,922 | $ | 227,092 | $ | 172,828 | |||||||
Corporate and other (2) | (54,185 | ) | (52,780 | ) | (21,300 | ) | ||||||
$ | 227,737 | $ | 174,312 | $ | 151,528 | |||||||
-1 | One of our customers accounted for approximately 13%, 15%, and 18% of our consolidated net sales for the fiscal years ended June 30, 2014, 2013, and 2012, respectively, which were primarily related to the United States segment. A second customer accounted for approximately 11% and 10% of our consolidated net sales for the fiscal years ended June 30, 2014 and 2013, which were primarily related to the United States and United Kingdom segments. | |||||||||||
-2 | Includes $10,076, $16,634, and $7,974 of acquisition related expenses, restructuring and integration charges for the fiscal years ended June 30, 2014, 2013 and 2012, respectively. Of those amounts, $945, $4,491 and $0 are recorded in cost of sales for the fiscal years ended June 30, 2014, 2013 and 2012, respectively. Corporate and other also includes a net reduction of expense of $3,616 for the fiscal year ended June 30, 2014, expense of $2,336 for the fiscal year ended June 30, 2013, and a reduction of expense of $14,627 for the fiscal years ended June 30, 2012, related to adjustments of the carrying value of contingent consideration. Additionally, $6,000 of expense is included in Corporate and other for the fiscal year ended June 30, 2014 related to a August 2014 voluntary recall (see Note 19). | |||||||||||
Revenue from External Customers by Products and Services [Table Text Block] | ' | |||||||||||
The Company’s sales by product category are as follows: | ||||||||||||
Fiscal Year ended June 30, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Grocery | $ | 1,669,208 | $ | 1,286,377 | $ | 955,071 | ||||||
Snacks | 249,033 | 220,452 | 209,319 | |||||||||
Tea | 115,593 | 110,819 | 103,950 | |||||||||
Personal Care | 119,777 | 117,035 | 109,907 | |||||||||
Total | $ | 2,153,611 | $ | 1,734,683 | $ | 1,378,247 | ||||||
Schedule of Disclosure on Geographic Areas, Long-Lived Assets in Individual Foreign Countries by Country [Table Text Block] | ' | |||||||||||
The Company’s long-lived assets, which primarily represent net property, plant and equipment, by geographic area are as follows: | ||||||||||||
June 30, | June 30, | |||||||||||
2014 | 2013 | |||||||||||
United States | $ | 139,919 | $ | 149,240 | ||||||||
Canada | 9,694 | 10,057 | ||||||||||
United Kingdom | 198,505 | 122,620 | ||||||||||
Europe | 27,746 | 27,064 | ||||||||||
$ | 375,864 | $ | 308,981 | |||||||||
Summary_of_Significant_Account3
Summary of Significant Accounting Policies PPE Useful Life (Details) | 12 Months Ended |
Jun. 30, 2014 | |
Minimum [Member] | Building and Building Improvements [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Property, Plant and Equipment, Estimated Useful Lives | '10 |
Minimum [Member] | Machinery and Equipment [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Property, Plant and Equipment, Estimated Useful Lives | '3 |
Minimum [Member] | Furniture and Fixtures [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Property, Plant and Equipment, Estimated Useful Lives | '3 |
Minimum [Member] | Leasehold Improvements [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Property, Plant and Equipment, Estimated Useful Lives | '3 |
Maximum [Member] | Building and Building Improvements [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Property, Plant and Equipment, Estimated Useful Lives | '40 |
Maximum [Member] | Machinery and Equipment [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Property, Plant and Equipment, Estimated Useful Lives | '20 |
Maximum [Member] | Furniture and Fixtures [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Property, Plant and Equipment, Estimated Useful Lives | '15 |
Maximum [Member] | Leasehold Improvements [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Property, Plant and Equipment, Estimated Useful Lives | '15 |
Summary_of_Significant_Account4
Summary of Significant Accounting Policies Narrative (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 |
Concentration Risk [Line Items] | ' | ' | ' |
Estimated ChargeBack Receivable | $4,883 | $3,750 | ' |
Research and Development Expense | 10,049 | 7,516 | 3,906 |
Advertising Expense | 15,463 | 14,030 | 9,054 |
Money Market Funds, at Carrying Value | $31,902 | $6,200 | ' |
Trade Receivables from One Customer [Member] | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' |
Concentration Risk, Percentage | 10.00% | 13.00% | ' |
Trade Receivables from Second Customer [Member] | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' |
Concentration Risk, Percentage | 10.00% | 8.00% | ' |
Sales to First Customer [Member] | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' |
Concentration Risk, Percentage | 13.00% | 15.00% | 18.00% |
Sales to Second Customer [Member] | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' |
Concentration Risk, Percentage | 11.00% | 10.00% | ' |
Earnings_Per_Share_Narrative_D
Earnings Per Share (Narrative) (Details) | 12 Months Ended | ||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 | |
Earnings Per Share [Abstract] | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 135,905 | 300,000 | 29,000 |
Earnings_Per_Share_Computation
Earnings Per Share (Computation Of Basic And Diluted Earnings Per Share) (Details) (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 |
Earnings Per Share [Abstract] | ' | ' | ' |
Income (Loss) from Continuing Operations Attributable to Parent | $141,480 | $119,793 | $94,214 |
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent | -1,629 | -5,137 | -14,989 |
Net Income (Loss) Attributable to Parent | $139,851 | $114,656 | $79,225 |
Denominator for basic earnings per share - weighted average shares outstanding during the period | 48,875 | 46,176 | 44,360 |
Effect of dilutive stock options and unvested restricted stock | 1,128 | 1,396 | 1,487 |
Diluted | 50,003 | 47,572 | 45,847 |
Income (Loss) from Continuing Operations, Per Basic Share | $2.89 | $2.59 | $2.12 |
Income (Loss) from Discontinued Operations, Net of Tax, Per Basic Share | ($0.03) | ($0.11) | ($0.33) |
Basic net income per share | $2.86 | $2.48 | $1.79 |
Income (Loss) from Continuing Operations, Per Diluted Share | $2.83 | $2.52 | $2.05 |
Income (Loss) from Discontinued Operations, Net of Tax, Per Diluted Share | ($0.03) | ($0.11) | ($0.32) |
Diluted net income per share | $2.80 | $2.41 | $1.73 |
Acquisitions_and_Disposals_Acq
Acquisitions and Disposals Acquisitions and Disposals (Fiscal 2014) (Narrative) (Details) | 12 Months Ended | 3 Months Ended | 3 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2012 | Oct. 25, 2011 | Oct. 25, 2011 | Jun. 30, 2014 | Jun. 30, 2014 | Apr. 28, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Jun. 30, 2014 | Jan. 13, 2014 | Jun. 30, 2013 | Jun. 30, 2013 | 2-May-13 | Jun. 30, 2013 | Dec. 21, 2012 | Jun. 30, 2013 | Jun. 30, 2013 | Jun. 30, 2013 | Jun. 30, 2013 | Oct. 27, 2012 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2013 | Jun. 30, 2014 | |
USD ($) | USD ($) | GBP (£) | USD ($) | FY'13 Acquisition Proforma [Member] | FY'13 Acquisition Proforma [Member] | FY'14 Acquisition Proforma [Member] | FY'14 Acquisition Proforma [Member] | Daniels [Member] | Daniels [Member] | Daniels [Member] | Daniels [Member] | Rudis [Member] | Rudis [Member] | Rudis [Member] | Tilda [Member] | Tilda [Member] | Tilda [Member] | Tilda [Member] | Ella's Kitchen [Member] | Ella's Kitchen [Member] | Ella's Kitchen [Member] | BluePrint [Member] | BluePrint [Member] | Fruit Business [Member] | Fruit Business [Member] | UK Ambient Grocery Brands [Member] | UK Ambient Grocery Brands [Member] | UK Ambient Grocery Brands [Member] | Customer Relationships [Member] | Customer Relationships [Member] | Customer Relationships [Member] | Trade Names [Member] | Trade Names [Member] | Noncompete Agreements [Member] | Noncompete Agreements [Member] | Trade Names [Member] | CRM business [Member] | |
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | GBP (£) | USD ($) | GBP (£) | USD ($) | GBP (£) | USD ($) | USD ($) | GBP (£) | USD ($) | USD ($) | USD ($) | GBP (£) | USD ($) | USD ($) | USD ($) | USD ($) | GBP (£) | USD ($) | GBP (£) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | ||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Acquisition, Pro Forma Revenue | ' | ' | ' | ' | $1,897,924,000 | $1,695,431,000 | $2,310,540,000 | $1,970,371,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 41,692,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Acquired Finite-lived Intangible Asset, Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 46,232,000 | 59,602,000 | ' | ' | 1,100,000 | 820,000 | ' | ' |
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '13 years 2 months | '15 years 7 months | '11 years 0 months | ' | ' | '3 years | ' | ' | ' |
Acquired Indefinite-lived Intangible Asset, Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 115,987,000 | 139,337,000 | ' | ' | 54,266,000 | ' |
Payments to Acquire Businesses, Net of Cash Acquired | 177,290,000 | 350,426,000 | ' | 257,264,000 | ' | ' | ' | ' | 233,822,000 | 146,532,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 58,437,000 | 37,571,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | 1,779,917 | 1,698,472 | 1,698,472 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 133,744 | 133,744 | ' | 1,646,173 | 1,646,173 | ' | ' | 687,779 | 687,779 | ' | 174,267 | ' | ' | ' | 836,426 | 836,426 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned | 159,521,000 | 102,636,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11,168,000 | ' | ' | ' | 148,353,000 | ' | ' | 45,050,000 | ' | 9,525,000 | ' | ' | ' | ' | 48,061,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other Payments to Acquire Businesses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | 32,958,000 | 20,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20,500,000 | 13,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Contingent Consideration, Liability | ' | 13,491,000 | ' | 19,000,000 | ' | ' | ' | ' | 15,637,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 11,800 | 13,491,000 | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Acquisition, Cost of Acquired Entity, Cash Paid | ' | ' | ' | 257,170,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50,649,000 | ' | 126,340,000 | ' | ' | ' | ' | ' | ' | 16,679,000 | ' | 1,600,000 | 1,000,000 | 273,246,000 | 169,708,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual | ' | ' | ' | ' | ' | ' | ' | ' | 144,290,000 | ' | ' | ' | ' | ' | ' | ' | ' | 103,884,000 | ' | ' | ' | ' | ' | ' | ' | ' | 161,784,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual | ' | ' | ' | ' | ' | ' | ' | ' | 12,999,000 | ' | ' | ' | ' | ' | ' | ' | ' | 14,417,000 | ' | ' | ' | ' | ' | ' | ' | ' | 19,873,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from Divestiture of Businesses, Net of Cash Divested | ' | 15,132,000 | 9,641,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Discontinued Operation, Gain (Loss) from Disposal of Discontinued Operation, before Income Tax | ' | -3,616,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,148,000 |
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax | -1,629,000 | -4,200,000 | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Acquisition, Pro Forma Income (Loss) from Continuing Operations before Changes in Accounting and Extraordinary Items, Net of Tax | ' | ' | ' | ' | $137,009,000 | $115,299,000 | $151,534,000 | $139,085,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Acquisition, Pro Forma Income (Loss) from Continuing Operations before Changes in Accounting and Extraordinary Items, Net of Tax, Per Share, Diluted | ' | ' | ' | ' | $2.82 | $2.43 | $2.97 | $2.82 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Acquisitions_and_Disposals_Fis
Acquisitions and Disposals (Fiscal 2013) (Narrative) (Details) | 12 Months Ended | 12 Months Ended | 12 Months Ended | |||||||||||||||||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2012 | Jun. 30, 2012 | Apr. 27, 2012 | Apr. 27, 2012 | Jun. 30, 2012 | Jun. 30, 2012 | Oct. 25, 2011 | Oct. 25, 2011 | Jun. 30, 2012 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2014 | Jun. 30, 2013 |
USD ($) | USD ($) | USD ($) | Cully & Sully [Member] | Cully & Sully [Member] | Cully & Sully [Member] | Cully & Sully [Member] | Daniels [Member] | Daniels [Member] | Daniels [Member] | Daniels [Member] | Europe's Best [Member] | Trade Names [Member] | Customer Relationships [Member] | Customer Relationships [Member] | Customer Relationships [Member] | Noncompete Agreements [Member] | Noncompete Agreements [Member] | Trade Names [Member] | Trade Names [Member] | |
USD ($) | EUR (€) | USD ($) | EUR (€) | USD ($) | GBP (£) | USD ($) | GBP (£) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | |||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High | ' | ' | ' | ' | ' | $5,952 | € 4,500 | ' | ' | $20,500 | £ 13,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Acquisition, Cost of Acquired Entity, Cash Paid | ' | ' | 257,170 | ' | ' | ' | ' | ' | ' | ' | ' | 9,513 | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual | ' | ' | ' | ' | ' | ' | ' | 144,290 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual | ' | ' | ' | ' | ' | ' | ' | 12,999 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Acquired Finite-lived Intangible Asset, Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 46,232 | 59,602 | 1,100 | 820 | ' | ' |
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '13 years 2 months | '15 years 7 months | '11 years 0 months | '3 years | ' | ' | ' |
Acquired Indefinite-lived Intangible Asset, Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 54,266 | ' | ' | ' | ' | ' | 115,987 | 139,337 |
Payments to Acquire Businesses, Net of Cash Acquired | $177,290 | $350,426 | $257,264 | $13,835 | € 10,460 | ' | ' | $233,822 | £ 146,532 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Acquisitions_and_Disposals_Fis1
Acquisitions and Disposals (Fiscal 2012) (Narrative) (Details) (USD $) | 12 Months Ended | ||||||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 | Mar. 31, 2014 | ||||
Business Acquisition [Line Items] | ' | ' | ' | ' | |||
Business Combination, Consideration Transferred | ' | $464,489,000 | $276,170,000 | ' | |||
Business Combination, Contingent Consideration, Liability | ' | 13,491,000 | 19,000,000 | ' | |||
Goodwill | 1,134,368,000 | [1] | 876,106,000 | [1] | 702,556,000 | [1] | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities Noncurrent | ' | -8,907,000 | -28,825,000 | ' | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities | ' | -19,946,000 | -47,957,000 | ' | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill | ' | 186,669,000 | 114,689,000 | 124,549,000 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | ' | 42,995,000 | 46,834,000 | ' | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets | ' | 60,316,000 | 64,345,000 | 86,828,000 | |||
Business Acquisition, Cost of Acquired Entity, Cash Paid | ' | ' | 257,170,000 | ' | |||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | 1,779,917 | 1,698,472 | ' | ' | |||
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned | 159,521,000 | 102,636,000 | ' | ' | |||
Fiscal 2012 Acquisitions [Member] | ' | ' | ' | ' | |||
Business Acquisition [Line Items] | ' | ' | ' | ' | |||
Goodwill | ' | ' | $125,976,000 | ' | |||
[1] | The total carrying value of goodwill for all periods in the table above is reflected net of $42,029 of accumulated impairment charges recorded during fiscal 2009 which relate to the Company’s United Kingdom and Europe operating segments. |
Acquisitions_and_Disposals_Com
Acquisitions and Disposals (Components Of Preliminary Purchase Price Allocations) (Details) | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | |||||||||||||||||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 | Mar. 31, 2014 | Jun. 30, 2013 | Jun. 30, 2013 | Oct. 27, 2012 | Jun. 30, 2013 | Dec. 21, 2012 | Jun. 30, 2013 | Jun. 30, 2013 | 2-May-13 | Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2012 | Jun. 30, 2012 | Jun. 30, 2012 | Apr. 27, 2012 | Jun. 30, 2012 | Jun. 30, 2012 | ||||
USD ($) | USD ($) | USD ($) | USD ($) | UK Ambient Grocery Brands [Member] | UK Ambient Grocery Brands [Member] | UK Ambient Grocery Brands [Member] | BluePrint [Member] | BluePrint [Member] | Ella's Kitchen [Member] | Ella's Kitchen [Member] | Ella's Kitchen [Member] | Fiscal 2013 Acquisitions [Member] | Daniels [Member] | Daniels [Member] | Cully & Sully [Member] | Cully & Sully [Member] | Cully & Sully [Member] | Fiscal 2012 Acquisitions [Member] | Europe's Best [Member] | ||||
USD ($) | GBP (£) | USD ($) | USD ($) | USD ($) | USD ($) | GBP (£) | USD ($) | USD ($) | USD ($) | GBP (£) | USD ($) | EUR (€) | USD ($) | USD ($) | USD ($) | ||||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Business Combination, Consideration Transferred | ' | $464,489,000 | $276,170,000 | ' | $321,307,000 | ' | ' | $39,695,000 | ' | $103,487,000 | ' | ' | ' | $249,459,000 | ' | $17,198,000 | ' | ' | ' | $9,513,000 | |||
Business Combination, Contingent Consideration, Liability | ' | 13,491,000 | 19,000,000 | ' | ' | ' | 0 | 11,800 | 13,491,000 | ' | ' | 0 | ' | 15,637,000 | ' | ' | ' | 3,363,000 | ' | 0 | |||
Goodwill | 1,134,368,000 | [1] | 876,106,000 | [1] | 702,556,000 | [1] | ' | ' | ' | 134,123,000 | ' | 16,989,000 | ' | ' | 52,250,000 | 203,362,000 | 119,251,000 | ' | ' | ' | 6,725,000 | 125,976,000 | 0 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities Noncurrent | ' | -8,907,000 | -28,825,000 | ' | ' | ' | 2,882,000 | ' | 0 | ' | ' | -11,789,000 | ' | -27,197,000 | ' | ' | ' | -1,462,000 | ' | -166,000 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities | ' | -19,946,000 | -47,957,000 | ' | ' | ' | -2,693,000 | ' | -2,189,000 | ' | ' | -15,064,000 | ' | -46,431,000 | ' | ' | ' | -1,342,000 | ' | -184,000 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets | ' | ' | 1,108,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,108,000 | ' | ' | ' | 0 | ' | 0 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill | ' | 186,669,000 | 114,689,000 | 124,549,000 | ' | ' | 118,020,000 | ' | 18,980,000 | ' | ' | 49,669,000 | ' | 100,290,000 | ' | ' | ' | 11,693,000 | ' | 2,706,000 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | ' | 42,995,000 | 46,834,000 | ' | ' | ' | 39,150,000 | ' | 3,173,000 | ' | ' | 672,000 | ' | 46,799,000 | ' | ' | ' | 35,000 | ' | 0 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets | ' | 60,316,000 | 64,345,000 | 86,828,000 | ' | ' | 29,825,000 | ' | 2,742,000 | ' | ' | 27,749,000 | ' | 55,639,000 | ' | ' | ' | 1,549,000 | ' | 7,157,000 | |||
Business Acquisition, Cost of Acquired Entity, Cash Paid | ' | ' | 257,170,000 | ' | 273,246,000 | 169,708,000 | ' | 16,679,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9,513,000 | |||
Payments to Acquire Businesses, Net of Cash Acquired | 177,290,000 | 350,426,000 | 257,264,000 | ' | ' | ' | ' | ' | ' | 58,437,000 | 37,571,000 | ' | 348,362,000 | 233,822,000 | 146,532,000 | 13,835,000 | 10,460,000 | ' | ' | ' | |||
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned | 159,521,000 | 102,636,000 | ' | ' | ' | ' | 48,061,000 | ' | 9,525,000 | ' | ' | 45,050,000 | ' | ' | ' | ' | ' | ' | ' | ' | |||
Total purchase price allocation | ' | $464,489,000 | $276,170,000 | ' | ' | ' | $321,307,000 | ' | $39,695,000 | ' | ' | $103,487,000 | ' | $249,459,000 | ' | ' | ' | $17,198,000 | ' | $9,513,000 | |||
[1] | The total carrying value of goodwill for all periods in the table above is reflected net of $42,029 of accumulated impairment charges recorded during fiscal 2009 which relate to the Company’s United Kingdom and Europe operating segments. |
Acquisitions_and_Disposals_Acq1
Acquisitions and Disposals Acquisitions and Disposals (Acquisition Related Costs) (Details) | 12 Months Ended | 3 Months Ended | 3 Months Ended | 12 Months Ended | |||||||||||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Jan. 13, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Apr. 28, 2014 | Jun. 30, 2014 | Jun. 30, 2013 | ||||
USD ($) | USD ($) | USD ($) | USD ($) | Tilda [Member] | Tilda [Member] | Tilda [Member] | Rudis [Member] | Rudis [Member] | Rudis [Member] | 2014 Acquisition [Member] | Fiscal 2013 Acquisitions [Member] | ||||
USD ($) | GBP (£) | USD ($) | USD ($) | GBP (£) | USD ($) | USD ($) | USD ($) | ||||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Payments to Acquire Businesses, Net of Cash Acquired | $177,290,000 | $350,426,000 | $257,264,000 | ' | ' | ' | ' | ' | ' | ' | $176,989,000 | $348,362,000 | |||
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned | 159,521,000 | 102,636,000 | ' | ' | ' | ' | 148,353,000 | ' | ' | 11,168,000 | 159,521,000 | ' | |||
Business Combination, Contingent Consideration, Liability | ' | 13,491,000 | 19,000,000 | ' | ' | ' | ' | ' | ' | ' | 32,958,000 | ' | |||
Business Combination, Consideration Transferred | ' | 464,489,000 | 276,170,000 | ' | 307,651,000 | ' | ' | 61,817,000 | ' | ' | 369,468,000 | ' | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets | ' | 60,316,000 | 64,345,000 | 86,828,000 | ' | ' | ' | ' | ' | 7,399,000 | 94,227,000 | ' | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | ' | 42,995,000 | 46,834,000 | ' | 39,898,000 | ' | ' | 3,774,000 | ' | ' | 43,672,000 | ' | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets | ' | ' | 1,108,000 | ' | 0 | ' | ' | 659,000 | ' | ' | 659,000 | ' | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill | ' | 186,669,000 | 114,689,000 | 124,549,000 | ' | ' | ' | 33,130,000 | ' | ' | 157,679,000 | ' | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities | ' | -19,946,000 | -47,957,000 | ' | -92,971,000 | ' | ' | -6,332,000 | ' | ' | -99,303,000 | ' | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities Noncurrent | ' | -8,907,000 | -28,825,000 | ' | -25,936,000 | ' | ' | -37,000 | ' | ' | -25,973,000 | ' | |||
Goodwill | 1,134,368,000 | [1] | 876,106,000 | [1] | 702,556,000 | [1] | ' | 175,283,000 | ' | ' | 23,224,000 | ' | ' | 198,507,000 | 203,362,000 |
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net | ' | 464,489,000 | 276,170,000 | ' | ' | ' | ' | ' | ' | ' | 369,468,000 | ' | |||
Other Payments to Acquire Businesses | ' | ' | ' | ' | 32,958,000 | 20,000,000 | ' | 0 | ' | ' | ' | ' | |||
Payments to Acquire Businesses, Gross | ' | ' | 257,170,000 | ' | 126,340,000 | ' | ' | ' | 50,649,000 | ' | ' | ' | |||
Business Combination, Acquisition Related Costs | $7,238,000 | $5,461,000 | $5,921,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
[1] | The total carrying value of goodwill for all periods in the table above is reflected net of $42,029 of accumulated impairment charges recorded during fiscal 2009 which relate to the Company’s United Kingdom and Europe operating segments. |
Discontinued_Operations_Discon1
Discontinued Operations Discontinued Operations (Summary of Operating Results) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' | ' |
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax | ($1,629) | ($4,200) | $0 |
Discontinued Operation, Gain (Loss) from Disposal of Discontinued Operation, before Income Tax | ' | -3,616 | ' |
Net sales | 0 | 15,313 | 73,743 |
Impairment charges | 0 | 0 | -14,880 |
Operating loss | 0 | -1,176 | -16,822 |
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent | -1,629 | -5,137 | -14,989 |
Grains Noirs [Member] | ' | ' | ' |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' | ' |
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax | -2,777 | ' | ' |
CRM business [Member] | ' | ' | ' |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' | ' |
Discontinued Operation, Gain (Loss) from Disposal of Discontinued Operation, before Income Tax | $1,148 | ' | ' |
Discontinued_Operations_Discon2
Discontinued Operations Discontinued Operations (Summary of Impairment Charges) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 |
Discontinued Operations and Disposal Groups [Abstract] | ' | ' | ' |
Discontinued Operations Customer Relationship Impairment Charge | ' | ' | $1,756 |
Discontinued Operations Tradename Impairment Charge | ' | ' | 8,541 |
Discontinued Operations Goodwill Impairment Charge | ' | ' | 2,433 |
Discontinued Operations CTA Recognition Charge | ' | ' | 2,150 |
Discontinued Operation, Provision for Loss (Gain) on Disposal, before Income Tax | $0 | $0 | $14,880 |
Inventories_Components_Of_Inve
Inventories (Components Of Inventories) (Details) (USD $) | Jun. 30, 2014 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | ||
Inventory, Net [Abstract] | ' | ' |
Finished Goods | $190,818 | $163,288 |
Raw materials, work-in-progress and packaging | 129,433 | 86,887 |
Total inventories | $320,251 | $250,175 |
Property_Plant_And_Equipment_C
Property, Plant And Equipment (Components Of Property, Plant And Equipment) (Details) (USD $) | Jun. 30, 2014 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | ||
Land | $34,021 | $16,149 |
Buildings and improvements | 75,895 | 61,480 |
Machinery and equipment | 329,680 | 264,198 |
Furniture and fixtures | 10,352 | 9,774 |
Leasehold improvements | 21,836 | 17,760 |
Construction in progress | 4,850 | 4,669 |
Property, plant and equipment, gross | 476,634 | 374,030 |
Less: Accumulated depreciation and amortization | 165,973 | 138,189 |
Property, plant and equipment, net | $310,661 | $235,841 |
Goodwill_And_Other_Intangible_2
Goodwill And Other Intangible Assets (Narrative) (Details) (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Jun. 30, 2014 |
Goodwill and Intangible Assets Disclosure [Abstract] | ' |
Intangible assets deemed to have a finite life | $206,071 |
Finite-Lived Intangible Assets, Remaining Amortization Period | '10 years 9 months |
Finite-Lived Intangible Assets [Line Items] | ' |
Goodwill, Impaired, Accumulated Impairment Loss | $42,029 |
Minimum [Member] | ' |
Finite-Lived Intangible Assets [Line Items] | ' |
Finite-Lived Intangible Asset, Useful Life | '3 years |
Maximum [Member] | ' |
Finite-Lived Intangible Assets [Line Items] | ' |
Finite-Lived Intangible Asset, Useful Life | '25 years |
Goodwill_And_Other_Intangible_3
Goodwill And Other Intangible Assets (Changes In Carrying Amount Of Goodwill) (Details) (USD $) | 12 Months Ended | |||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | ||
Goodwill [Roll Forward] | ' | ' | ||
Goodwill | $876,106 | [1] | $702,556 | [1] |
Goodwill, Acquired During Period | 219,058 | 185,215 | ||
Goodwill, Translation Adjustments | 39,204 | -11,665 | ||
Goodwill | 1,134,368 | [1] | 876,106 | [1] |
United States [Member] | ' | ' | ||
Goodwill [Roll Forward] | ' | ' | ||
Goodwill | 574,558 | [1] | 512,117 | [1] |
Goodwill, Acquired During Period | 27,766 | 63,598 | ||
Goodwill, Translation Adjustments | 5,002 | -1,157 | ||
Goodwill | 607,326 | [1] | 574,558 | [1] |
United Kingdom [Member] | ' | ' | ||
Goodwill [Roll Forward] | ' | ' | ||
Goodwill | 232,849 | [1] | 120,600 | [1] |
Goodwill, Acquired During Period | 190,772 | 121,617 | ||
Goodwill, Translation Adjustments | 34,197 | -9,368 | ||
Goodwill | 457,818 | [1] | 232,849 | [1] |
All Other Segments [Member] | ' | ' | ||
Goodwill [Roll Forward] | ' | ' | ||
Goodwill | 68,699 | [1] | 69,839 | [1] |
Goodwill, Acquired During Period | 520 | 0 | ||
Goodwill, Translation Adjustments | 5 | -1,140 | ||
Goodwill | $69,224 | [1] | $68,699 | [1] |
[1] | The total carrying value of goodwill for all periods in the table above is reflected net of $42,029 of accumulated impairment charges recorded during fiscal 2009 which relate to the Company’s United Kingdom and Europe operating segments. |
Goodwill_And_Other_Intangible_4
Goodwill And Other Intangible Assets (Components Of Trademarks And Other Intangible Assets) (Details) (USD $) | Jun. 30, 2014 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | ||
Indefinite-lived Intangible Assets [Line Items] | ' | ' |
Net carrying amount | $651,482 | $498,235 |
Trademarks And Tradenames [Member] | ' | ' |
Indefinite-lived Intangible Assets [Line Items] | ' | ' |
Trademarks and tradenames | 498,068 | 376,700 |
Other Intangibles [Member] | ' | ' |
Indefinite-lived Intangible Assets [Line Items] | ' | ' |
Other intangibles | 206,071 | 156,728 |
Less: accumulated amortization | ($52,657) | ($35,193) |
Goodwill_And_Other_Intangible_5
Goodwill And Other Intangible Assets (Amortization Expense) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 |
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ' | ' |
Amortization of All Intangible Assets including those not acquired in business combinations | $15,600 | $12,398 | $9,150 |
Goodwill_And_Other_Intangible_6
Goodwill And Other Intangible Assets (Expected Amortization Expense Over Next Five Fiscal Years) (Details) (USD $) | Jun. 30, 2014 |
In Thousands, unless otherwise specified | |
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract] | ' |
Estimated amortization expense, FY2015 | $17,826 |
Estimated amortization expense, FY2016 | 17,424 |
Estimated amortization expense, FY2017 | 16,734 |
Estimated amortization expense, FY2018 | 16,551 |
Estimated amortization expense, FY2019 | $14,127 |
Accrued_Expenses_and_Other_Cur2
Accrued Expenses and Other Current Liabilities (Details) (USD $) | Jun. 30, 2014 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | ||
Accrued Liabilities, Current [Abstract] | ' | ' |
Payroll, Employee Benefits and Other Administrative Accruals | $54,171 | $40,146 |
Selling and Marketing Related Accruals | 11,310 | 9,742 |
Contingent Consideration Current Liability | 5,611 | 10,283 |
Other | 13,814 | 16,486 |
Accrued expenses and other current liabilities | $84,906 | $76,657 |
Debt_and_Borrowings_Narrative_
Debt and Borrowings (Narrative) (Details) | 12 Months Ended | 12 Months Ended | ||||||||||||||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2013 | |
USD ($) | USD ($) | USD ($) | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Eurocurrency Rate [Member] | Eurocurrency Rate [Member] | Base Rate [Member] | Base Rate [Member] | Foreign Line of Credit [Member] | Foreign Line of Credit [Member] | Tilda borrowing arrangement [Member] | Tilda borrowing arrangement [Member] | Tilda borrowing arrangement [Member] | |
USD ($) | USD ($) | Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | USD ($) | USD ($) | USD ($) | GBP (£) | USD ($) | ||||
Debt Disclosure [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Aggregate principal amount of senior notes | $150,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Senior notes term, in years | '10 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Senior notes maturity date | 2-May-16 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Senior notes interest percentage | 5.98% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Senior notes outstanding | 150,000,000 | 150,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revolving credit facility expiration date | 31-Aug-17 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest coverage ratio | 4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Leverage ratio | 3.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consolidated leverage ratio | 4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line Of Credit Potential Incremental Borrowing Capacity Post-Amendment | 150,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest Paid | 20,560,000 | 19,154,000 | 14,377,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Borrowings outstanding under credit agreement | ' | ' | ' | 614,502,000 | 503,384,000 | ' | ' | ' | ' | ' | ' | 0 | 11,779,000 | 65,975,000 | ' | 0 |
Revolving credit facility | ' | ' | ' | $850,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | £ 52,000,000 | ' |
Debt Instrument, Basis Spread on Variable Rate | ' | ' | ' | ' | ' | ' | ' | 0.88% | 2.00% | 0.00% | 1.00% | ' | ' | ' | ' | ' |
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage | ' | ' | ' | ' | ' | 0.20% | 0.35% | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Short-term Debt, Weighted Average Interest Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.80% | 2.80% | ' |
Debt_and_Borrowings_Debt_and_B1
Debt and Borrowings Debt and Borrowings (Maturities of Debt Instruments) (Details) (USD $) | Jun. 30, 2014 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | ||
Maturities of Long-term Debt [Abstract] | ' | ' |
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months | $100,096 | ' |
Long-term Debt, Maturities, Repayments of Principal in Year Two | 151,327 | ' |
Long-term Debt, Maturities, Repayments of Principal in Year Three | 1,327 | ' |
Long-term Debt, Maturities, Repayments of Principal in Year Four | 615,173 | ' |
Long-term Debt | $867,923 | $665,941 |
Debt_and_Borrowings_Debt_and_B2
Debt and Borrowings Debt and Borrowings (Components of Debt) (Details) (USD $) | Jun. 30, 2014 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | ||
Debt Disclosure [Abstract] | ' | ' |
Senior notes outstanding | $150,000 | $150,000 |
Tilda Vendor Loan Note | 34,056 | 0 |
Capital Lease Obligations | 3,390 | 778 |
Long-term Debt | 867,923 | 665,941 |
Current portion of long-term debt | 100,096 | 12,477 |
Long-term debt, less current portion | 767,827 | 653,464 |
Revolving Credit Facility [Member] | ' | ' |
Debt Disclosure [Abstract] | ' | ' |
Line of Credit Facility, Amount Outstanding | 614,502 | 503,384 |
Foreign Line of Credit [Member] | ' | ' |
Debt Disclosure [Abstract] | ' | ' |
Line of Credit Facility, Amount Outstanding | 0 | 11,779 |
Tilda borrowing arrangement [Member] | ' | ' |
Debt Disclosure [Abstract] | ' | ' |
Line of Credit Facility, Amount Outstanding | $65,975 | $0 |
Income_Taxes_Components_of_Inc
Income Taxes (Components of Income Before Income Taxes) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 |
Income Tax Disclosure [Abstract] | ' | ' | ' |
Domestic | $157,492 | $130,908 | $111,255 |
Foreign | 50,102 | 22,914 | 22,973 |
Total | $207,594 | $153,822 | $134,228 |
Income_Taxes_Income_Taxes_Prov
Income Taxes Income Taxes (Provision for Income Taxes) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 |
Income Tax Disclosure [Abstract] | ' | ' | ' |
Federal | $46,722 | $31,370 | $28,983 |
State and local | 7,891 | 3,792 | 3,414 |
Foreign | 16,836 | 6,565 | 6,050 |
Current Income Tax Expense (Benefit) | 71,449 | 41,727 | 38,447 |
Federal | 2,287 | -4,064 | 3,963 |
State and local | 372 | -405 | 493 |
Foreign | -4,009 | -2,934 | -1,749 |
Deferred Income Tax Expense (Benefit) | -1,350 | -7,403 | 2,707 |
Provision for income taxes | $70,099 | $34,324 | $41,154 |
Income_Taxes_Income_Taxes_Reco
Income Taxes Income Taxes (Reconciliation of Expected Income Taxes) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 |
Income Tax Disclosure [Abstract] | ' | ' | ' |
Income Tax Reconciliation, Income Tax Expense (Benefit), at Federal Statutory Income Tax Rate | $72,659 | $53,838 | $46,980 |
Income Tax Reconciliation, State and Local Income Taxes | 5,371 | 3,278 | 3,267 |
Income Tax Reconciliation, Deductions, Qualified Production Activities | -2,482 | -2,563 | -2,275 |
Income Tax Reconciliation, Foreign Income Tax Rate Differential | -4,842 | -4,950 | -11,513 |
Effective Income Tax Rate Reconciliation, Disposition of Asset, Amount | 0 | -13,186 | 0 |
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount | -3,739 | -2,288 | 0 |
Income Tax Reconciliation, Nondeductible Expense, Other | 0 | 0 | 5,434 |
Income Tax Reconciliation, Other Adjustments | 3,132 | 195 | -739 |
Provision for income taxes | $70,099 | $34,324 | $41,154 |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate | 35.00% | 35.00% | 35.00% |
Effective Income Tax Rate Reconciliation, State and Local Income Taxes | 2.60% | 2.10% | 2.40% |
Effective Income Tax Rate Reconciliation, Deductions, Qualified Production Activities | -1.20% | -1.70% | -1.70% |
Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential | -2.30% | -3.20% | -8.60% |
Effective Income Tax Rate Reconciliation, Disposition of Asset, Percent | 0.00% | -8.60% | 0.00% |
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Percent | -1.80% | -1.40% | 0.00% |
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Other | 0.00% | 0.00% | 4.00% |
Effective Income Tax Rate Reconciliation, Other Adjustments, Percent | 1.50% | 0.10% | -0.40% |
Effective Income Tax Rate, Continuing Operations | 33.80% | 22.30% | 30.70% |
Income_Taxes_Income_Taxes_Comp
Income Taxes Income Taxes (Components of Deferred Tax Assets and Liabilities) (Details) (USD $) | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 |
In Thousands, unless otherwise specified | |||
Income Tax Disclosure [Abstract] | ' | ' | ' |
Basis difference on inventory | $5,995 | $5,604 | ' |
Reserves not currently deductible | 17,365 | 11,941 | ' |
Other | 420 | 171 | ' |
Deferred income taxes | 23,780 | 17,716 | ' |
Difference in amortization | -143,478 | -107,011 | ' |
Basis difference on property and equipment | -17,782 | -11,236 | ' |
Other comprehensive income | -7,969 | -9,056 | ' |
Net operating loss and tax credit carryforwards | 24,067 | 17,666 | ' |
Stock based compensation | 6,526 | 5,354 | ' |
Other | 27 | 344 | ' |
Valuation Allowance, Amount | -9,830 | -10,456 | -11,183 |
Deferred income taxes | -148,439 | -114,395 | ' |
Deferred Tax Assets, Net | ($124,659) | ($96,679) | ' |
Income_Taxes_Income_Taxes_Chan
Income Taxes Income Taxes (Changes in Valuation Allowances) (Details) (USD $) | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | Additions To Valuation Allowance [Member] | Additions To Valuation Allowance [Member] | Reductions to Valuation Allowance [Member] | Reductions to Valuation Allowance [Member] | Translation Adjustments to Valuation Allowance [Member] | Translation Adjustments to Valuation Allowance [Member] | |||
Valuation Allowance [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Valuation Allowance, Amount | $9,830 | $10,456 | $11,183 | ' | ' | ' | ' | ' | ' |
Valuation Allowance, Deferred Tax Asset, Change in Amount | ' | ' | ' | $2,226 | $530 | ($760) | ($1,690) | $944 | ($315) |
Income_Taxes_Income_Taxes_Unre
Income Taxes Income Taxes (Unrecognized Tax Benefits Activity) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 |
Income Tax Contingency [Line Items] | ' | ' | ' |
Unrecognized Tax Benefits, Period Increase (Decrease) | $550 | ' | ' |
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | ' | ' | ' |
Balance at beginning of year | 2,507 | 1,337 | 1,472 |
Unrecognized Tax Benefits, Increases Resulting from Prior Period Tax Positions | 750 | 574 | 15 |
Unrecognized Tax Benefits, Increase Resulting from Acquisition | 0 | 941 | 690 |
Unrecognized Tax Benefits, Reductions Resulting from Lapse of Applicable Statute of Limitations | -906 | -345 | -840 |
Balance at end of year | $2,351 | $2,507 | $1,337 |
Income_Taxes_Income_Taxes_Narr
Income Taxes Income Taxes (Narrative) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 |
Income Tax Contingency [Line Items] | ' | ' | ' |
Unrecognized Tax Benefits that Would Impact Effective Tax Rate | $1,285 | ' | ' |
Undistributed Earnings of Foreign Subsidiaries | 81,050 | ' | ' |
Deferred Tax Assets, Tax Credit Carryforwards, Foreign | 448 | ' | ' |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate | 35.00% | 35.00% | 35.00% |
Income Taxes Paid | 47,339 | 22,051 | 21,902 |
UK Operating Loss Carryforwards And Deferred Tax Assets Valuation Allowances | 7,688 | ' | ' |
Federal Tax Net Operating Losses Carryforwards | 31,273 | ' | ' |
Deferred Tax Assets, Operating Loss Carryforwards, Foreign | 3,722 | ' | ' |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense | 6 | 268 | -135 |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued | 76 | 420 | ' |
Unrecognized Tax Benefits, Reductions Resulting from Lapse of Applicable Statute of Limitations | ($906) | ($345) | ($840) |
Domestic Tax Authority [Member] | ' | ' | ' |
Income Tax Contingency [Line Items] | ' | ' | ' |
Open Tax Year | '2011 | ' | ' |
Foreign Tax Authority [Member] | ' | ' | ' |
Income Tax Contingency [Line Items] | ' | ' | ' |
Open Tax Year | '2011 | ' | ' |
Stockholders_Equity_Other_Comp
Stockholders' Equity Other Comprehensive Income (Details) (USD $) | Jun. 30, 2014 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | ||
Stockholders' Equity Note [Abstract] | ' | ' |
Accumulated other comprehensive income | $60,128 | ($27,251) |
Stockholders_Equity_Narrative_
Stockholders' Equity Narrative (Details) (USD $) | 12 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 |
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | 1,779,917 | 1,698,472 |
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned | $159,521 | $102,636 |
Preferred Stock, Shares Outstanding | 0 | 0 |
Preferred stock, shares issued | 0 | 0 |
Preferred Stock, Shares Authorized | 5,000,000 | 5,000,000 |
Stockholders_Equity_Accumulate
Stockholders' Equity Accumulated Other Comprehensive Income (Loss) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss), Net of Tax | $60,128 | ($27,251) | ' |
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | 88,290 | ' | ' |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | -911 | ' | ' |
Other Comprehensive Income (Loss), Net of Tax | 87,379 | -21,868 | -12,527 |
Intra-entity foreign currency transactions [Member] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | 21,862 | ' | ' |
Accumulated Translation Adjustment [Member] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss), Net of Tax | 59,828 | -30,797 | ' |
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | 90,625 | ' | ' |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | 0 | ' | ' |
Other Comprehensive Income (Loss), Net of Tax | 90,625 | ' | ' |
Accumulated Net Unrealized Investment Gain (Loss) [Member] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss), Net of Tax | 905 | 2,747 | ' |
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | -1,121 | ' | ' |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | -721 | ' | ' |
Other Comprehensive Income (Loss), Net of Tax | -1,842 | ' | ' |
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax | 1,511 | ' | ' |
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss), Net of Tax | -605 | 799 | ' |
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | -1,214 | ' | ' |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | -190 | ' | ' |
Other Comprehensive Income (Loss), Net of Tax | -1,404 | ' | ' |
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax | $284 | ' | ' |
Stock_Based_Compensation_And_I2
Stock Based Compensation And Incentive Performance Plans Stock Based Compensation And Incentive Performance Plans (Stock Plans Narrative) (Details) (USD $) | 12 Months Ended | |||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2011 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 112,396 | 561,532 | 235,824 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 1,337,145 | 1,778,752 | 2,580,433 | 3,497,752 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 629,372 | 773,568 | 487,409 | 407,231 |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 7,072,304 | ' | ' | ' |
Long Term Incentive Plan [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Contractual Obligation | '7 years | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 14,000,000,000 | ' | ' | ' |
Awards Denominated In Common Stock Other Than Options And Stock Appreciation Rights Ratio Counted Against Share Limit | 2.07 | ' | ' | ' |
Options, Grants in Period, Gross | 0 | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 193,880 | 645,127 | 258,923 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 1,253,673 | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 594,543 | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 5,093,742 | ' | ' | ' |
Long Term Incentive Plan [Member] | Before Amendments [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 1,600,000 | ' | ' | ' |
Long Term Incentive Plan [Member] | Prior to December 1, 2005 [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Contractual Obligation | '10 years | ' | ' | ' |
Executive Incentive Plan [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 176,560 | 613,600 | 150,699 | ' |
Executive Incentive Plan [Member] | Subject To Achievement [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 37,340 | 449,016 | 75,361 | ' |
Directors Stock Plan [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Contractual Obligation | '7 years | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 950,000 | ' | ' | ' |
Options, Grants in Period, Gross | 0 | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 14,000 | 24,750 | 40,000 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 22,500 | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 34,829 | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 12,045 | ' | ' | ' |
Directors Stock Plan [Member] | Before Amendments [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 750,000 | ' | ' | ' |
Directors Stock Plan [Member] | Prior to December 1, 2005 [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Contractual Obligation | '10 years | ' | ' | ' |
Prior Hain And Celestial Plans [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 60,972 | ' | ' | ' |
Stock_Based_Compensation_And_I3
Stock Based Compensation And Incentive Performance Plans (Other Narrative) (Details) (USD $) | 0 Months Ended | 12 Months Ended | |||
In Thousands, except Share data, unless otherwise specified | Jul. 03, 2012 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 | Jul. 03, 2012 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' |
CEO Grant July 2012 Share Tranche | ' | ' | ' | ' | 100,000 |
Other Labor-related Expenses | ' | $9,495 | $7,460 | $8,743 | ' |
2012-2013 LTIP Expense After Deducting Initial Equity Grants | ' | 7,356 | ' | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Stock Options | ' | 0 | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term | ' | '2 years 1 month | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | ' | 92,380 | ' | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Period for Recognition | '4 years | ' | ' | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Share-based Awards Other than Options | ' | $16,042 | ' | ' | ' |
Restricted Stock [Member] | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Period for Recognition | ' | '2 years 2 months 15 days | ' | ' | ' |
Performance Based [Member] | Long Term Incentive Plan [Member] | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period | ' | ' | 95,484 | ' | ' |
Stock_Based_Compensation_And_I4
Stock Based Compensation And Incentive Performance Plans (Compensation Cost And Related Income Tax Benefits Recognized) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ' | ' |
Compensation cost (included in selling, general and administrative expense) | $12,448 | $13,010 | $8,290 |
Related income tax benefit | $4,787 | $4,969 | $3,019 |
Stock_Based_Compensation_And_I5
Stock Based Compensation And Incentive Performance Plans (Summary Of Stock Option Activity) (Details) (USD $) | 12 Months Ended | ||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | ' | ' | ' |
Options, Outstanding, Number (beginning of period) | 1,778,752 | 2,580,433 | 3,497,752 |
Options, Outstanding, Weighted Average Exercise Price (beginning of period) | $18.88 | $18 | $17.35 |
Options, Exercises in Period | -441,307 | -795,281 | -914,119 |
Options, Exercises in Period, Weighted Average Exercise Price | $16.59 | $16.05 | $15.51 |
Options, Forfeitures in Period | -300 | -6,400 | -3,200 |
Options, Forfeitures in Period, Weighted Average Exercise Price | $16.01 | $14.87 | $16.11 |
Options, Outstanding, Number (end of period) | 1,337,145 | 1,778,752 | 2,580,433 |
Options, Outstanding, Weighted Average Exercise Price (end of period) | $19.65 | $18.88 | $18 |
Options, Exercisable, Number | 1,337,145 | 1,735,427 | 2,289,642 |
Options, Exercisable, Weighted Average Exercise Price | $19.65 | $18.90 | $18.55 |
Stock_Based_Compensation_And_I6
Stock Based Compensation And Incentive Performance Plans (Schedule Of Cash Proceeds Received From Share-Based Payment Awards) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ' | ' |
Intrinsic value of options exercised | $29,778 | $39,562 | $23,798 |
Cash received from stock option exercises | 7,320 | 12,763 | 14,179 |
Tax benefit recognized from stock option exercises | $11,584 | $14,468 | $8,811 |
Stock_Based_Compensation_And_I7
Stock Based Compensation And Incentive Performance Plans (Non-Vested Restricted Stock And Restricted Share Unit Awards) (Details) (USD $) | 12 Months Ended | ||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | ' | ' | ' |
Non-vested restricted stock and units - beginning of year, Number of Shares and Units | 773,568 | 487,409 | 407,231 |
Non-vested restricted stock and units - beginning of year, Weighted Average Grant Date Fair Value (per share) | $42.44 | $29.94 | $22.43 |
Granted, Number of Shares and Units | 112,396 | 561,532 | 235,824 |
Granted, Weighted Average Grant Date Fair Value (per share) | $82.77 | $45.60 | $35.47 |
Vested, Number of Shares and Units | -238,145 | -265,819 | -136,031 |
Vested, Weighted Average Grant Date Fair Value (per share) | $38.17 | $26.23 | $17.51 |
Forfeited, Number of Shares and Units | -18,447 | -9,554 | -19,615 |
Forfeited, Weighted Average Grant Date Fair Value (per share) | $57.44 | $38.73 | $26.71 |
Non-vested restricted stock and units - end of year, Number of Shares and Units | 629,372 | 773,568 | 487,409 |
Non-vested restricted stock and units - end of year, Weighted Average Grant Date Fair Value (per share) | $50.87 | $42.44 | $29.94 |
Stock_Based_Compensation_And_I8
Stock Based Compensation And Incentive Performance Plans (Restricted Stock Grant Information) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ' | ' |
Fair value of restricted stock and restricted stock units granted | $9,303 | $25,606 | $8,364 |
Fair value of shares vested | 19,905 | 16,547 | 5,098 |
Tax benefit recognized from restricted shares vesting | $7,535 | $6,253 | $1,914 |
Stock_Based_Compensation_And_I9
Stock Based Compensation And Incentive Performance Plans Stock Based Compensation And Incentive Performance Plans (CEO July 2012 Grant) (Details) (USD $) | 0 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Jul. 03, 2012 | Jul. 03, 2012 |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ' |
CEO Grant July 2012 Total Shares | ' | 400,000 |
CEO Grant July 2012 Share Tranche | ' | 100,000 |
CEO Grant July 2012 Market Price Target Tranche 1 | ' | $62.50 |
CEO Grant July 2012 Market Price Target Tranche 2 | ' | $72.50 |
CEO Grant July 2012 Market Price Target Tranche 3 | ' | $82.50 |
CEO Grant July 2012 Market Price Target Tranche 4 | ' | $100 |
CEO Grant July 2012 Total Fair Value | ' | $16,151 |
CEO Grant July 2012 Weighted Average Period to Recognize Expense | '4 years | ' |
Investments_And_Joint_Ventures1
Investments And Joint Ventures (Equity Method Investments) (Details) (USD $) | 12 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 |
Schedule of Equity Method Investments [Line Items] | ' | ' |
Available For Sale Shares Sold in Period | 2,299,000 | ' |
Carrying value of investments | $36,511 | $46,799 |
Hain Pure Protein Joint Venture [Member] | ' | ' |
Schedule of Equity Method Investments [Line Items] | ' | ' |
Equity Method Investment, Ownership Percentage | 48.70% | ' |
Carrying value of investments | 30,742 | ' |
Proceeds from Collection of Advance to Affiliate | 6,038 | 4,116 |
Hutchison Hain Organic Holdings Limited [Member] | ' | ' |
Schedule of Equity Method Investments [Line Items] | ' | ' |
Equity Method Investment, Ownership Percentage | 50.00% | ' |
Advances to affiliate | 455 | ' |
Proceeds from Collection of Advance to Affiliate | $2,250 | ' |
Investments_And_Joint_Ventures2
Investments And Joint Ventures (Available for Sale Securities) (Details) (USD $) | 12 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 |
Investments, Debt and Equity Securities [Abstract] | ' | ' |
Cost-Method Investment, Percentage Of Ownership | 1.00% | ' |
Available-for-sale Securities, Gross Realized Gain (Loss) | $1,511 | ' |
Available For Sale Shares Held | 3,072,738 | ' |
Available for sale securities | 5,314 | 11,237 |
Available-for-sale Securities, Amortized Cost Basis | $3,831 | $6,696 |
Financial_Instruments_Measured2
Financial Instruments Measured At Fair Value (Narrative) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 |
Fair Value Disclosures [Abstract] | ' | ' | ' |
Fair Value Inputs, Discount Rate | 4.00% | ' | ' |
Fair value amounts of foreign exchange derivative contracts, net assets (liabilities) | $777 | ($1,066) | ' |
Foreign exchange contracts, maturities | '13 months | ' | ' |
Foreign Currency Cash Flow Hedge Derivative at Fair Value, Net | -777 | 1,066 | ' |
Derivative, Notional Amount | 69,431 | 29,916 | ' |
Discontinued foreign exchange hedges | 0 | ' | ' |
Transfers Of Financial Instruments Between Levels | 0 | ' | ' |
Contingent Consideration Discrete Adjustment | ($3,616) | $2,336 | ($14,627) |
Financial_Instruments_Measured3
Financial Instruments Measured At Fair Value (Assets And Liabilities Measured At Fair Value On A Recurring Basis) (Details) (USD $) | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 |
In Thousands, unless otherwise specified | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Cash equivalents | $31,902 | $6,200 | ' |
Available for sale securities | 5,314 | 11,237 | ' |
Assets total | 37,607 | 18,503 | ' |
Derivative Instruments in Hedges, Liabilities, at Fair Value | 1,168 | ' | ' |
Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value | 8,280 | 22,814 | 6,582 |
Liabilities total | 9,448 | 22,814 | ' |
Fair Value Measurement Contingent Consideration Noncurrent | 2,669 | 12,531 | ' |
Quoted Prices In Active Markets (Level 1) [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Cash equivalents | 31,902 | 6,200 | ' |
Available for sale securities | 5,314 | 11,237 | ' |
Assets total | 37,216 | 17,437 | ' |
Significant Other Observable Inputs (Level 2) [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Assets total | 391 | 1,066 | ' |
Significant Unobservable Inputs (Level 3) [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value | 8,280 | 22,814 | ' |
Liabilities total | 8,280 | 22,814 | ' |
Forward Foreign Currency Contracts [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Derivatives designated as hedging instruments, assets | 391 | 1,066 | ' |
Forward Foreign Currency Contracts [Member] | Significant Other Observable Inputs (Level 2) [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Derivatives designated as hedging instruments, assets | 391 | 1,066 | ' |
Derivative Instruments in Hedges, Liabilities, at Fair Value | $1,168 | ' | ' |
Financial_Instruments_Measured4
Financial Instruments Measured At Fair Value (Summary Of Level 3 Activity) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' |
Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value | $22,814 | $6,582 |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Issues | 0 | 13,491 |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Gain (Loss) Included in Earnings | 3,026 | 2,487 |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Settlements | -11,800 | 0 |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Gain (Loss) Included in Other Comprehensive Income (Loss) | 292 | 254 |
Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value | $8,280 | $22,814 |
Commitments_And_Contingencies_1
Commitments And Contingencies Operating Lease Future Minimum Payments (Details) (USD $) | Jun. 30, 2014 |
In Thousands, unless otherwise specified | |
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract] | ' |
FY2015 | $16,075 |
FY2016 | 11,024 |
FY2017 | 8,185 |
FY2018 | 6,733 |
FY2019 | 6,165 |
Thereafter | 51,012 |
Operating Leases, Future Minimum Payments Due | $99,194 |
Commitments_And_Contingencies_2
Commitments And Contingencies Narrative (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 |
Operating Leases, Rent Expense, Net [Abstract] | ' | ' | ' |
Operating Leases, Rent Expense, Net | $20,567 | $16,449 | $12,603 |
Defined_Contribution_Plans_Def
Defined Contribution Plans Defined Contribution Plans (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 |
Defined Contribution Pension and Other Postretirement Plans Disclosure [Abstract] | ' | ' | ' |
Defined Contribution Plan, Cost Recognized | $539 | $542 | $491 |
Defined Contribution Plan Eligibility Minimum Days Worked | 30 | ' | ' |
Segment_Information_Segment_Da
Segment Information (Segment Data) (Details) (USD $) | 12 Months Ended | |||||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 | |||
Segment Reporting Information [Line Items] | ' | ' | ' | |||
Revenues | $2,153,611 | $1,734,683 | $1,378,247 | |||
Operating Income (Loss) | 227,737 | 174,312 | 151,528 | |||
United States [Member] | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | |||
Revenues | 1,282,175 | 1,095,867 | 991,626 | |||
Operating Income (Loss) | 211,864 | 177,352 | 149,791 | |||
United Kingdom [Member] | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | |||
Revenues | 637,454 | 420,408 | 192,352 | |||
Operating Income (Loss) | 52,661 | 31,069 | 9,690 | |||
All Other Segments [Member] | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | |||
Revenues | 233,982 | 218,408 | 194,269 | |||
Operating Income (Loss) | 17,397 | 18,671 | 13,347 | |||
Total Segment Operating Income [Member] | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | |||
Operating Income (Loss) | 281,922 | 227,092 | 172,828 | |||
Corporate and Other [Member] | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | |||
Operating Income (Loss) | ($54,185) | [1] | ($52,780) | [1] | ($21,300) | [1] |
[1] | Includes $10,076, $16,634, and $7,974 of acquisition related expenses, restructuring and integration charges for the fiscal years ended June 30, 2014, 2013 and 2012, respectively. Of those amounts, $945, $4,491 and $0 are recorded in cost of sales for the fiscal years ended June 30, 2014, 2013 and 2012, respectively. Corporate and other also includes a net reduction of expense of $3,616 for the fiscal year ended June 30, 2014, expense of $2,336 for the fiscal year ended June 30, 2013, and a reduction of expense of $14,627 for the fiscal years ended June 30, 2012, related to adjustments of the carrying value of contingent consideration. Additionally, $6,000 of expense is included in Corporate and other for the fiscal year ended June 30, 2014 related to a August 2014 voluntary recall (see Note 19). |
Segment_Information_Segment_In
Segment Information Segment Information (Revenue by Products) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 |
Revenue from External Customer [Line Items] | ' | ' | ' |
Revenues | $2,153,611 | $1,734,683 | $1,378,247 |
Grocery [Member] | ' | ' | ' |
Revenue from External Customer [Line Items] | ' | ' | ' |
Revenues | 1,669,208 | 1,286,377 | 955,071 |
Snacks [Member] | ' | ' | ' |
Revenue from External Customer [Line Items] | ' | ' | ' |
Revenues | 249,033 | 220,452 | 209,319 |
Tea [Member] | ' | ' | ' |
Revenue from External Customer [Line Items] | ' | ' | ' |
Revenues | 115,593 | 110,819 | 103,950 |
Personal Care [Member] | ' | ' | ' |
Revenue from External Customer [Line Items] | ' | ' | ' |
Revenues | $119,777 | $117,035 | $109,907 |
Segment_Information_Segment_In1
Segment Information Segment Information (Long-lived Assets) (Details) (USD $) | Jun. 30, 2014 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | ||
Disclosure on Geographic Areas, Long-Lived Assets in Entity's Country of Domicile | $139,919 | $149,240 |
Disclosure on Geographic Areas Long-Lived Assets | 375,864 | 308,981 |
CANADA | ' | ' |
Disclosure on Geographic Areas, Long-Lived Assets in Entity's Country of Domicile | 9,694 | 10,057 |
UNITED KINGDOM | ' | ' |
Disclosure on Geographic Areas, Long-Lived Assets in Entity's Country of Domicile | 198,505 | 122,620 |
Europe [Member] | ' | ' |
Disclosure on Geographic Areas, Long-Lived Assets in Entity's Country of Domicile | $27,746 | $27,064 |
Segment_Information_Segment_In2
Segment Information Segment Information (Narrative) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 |
Concentration Risk [Line Items] | ' | ' | ' |
Total Acquisition & Restructuring Charges included in Corporate Segment | $10,076 | $16,634 | $7,974 |
Restructuring Charges in Corporate Segment Recorded in COGS | 945 | 4,491 | 0 |
Contingent Consideration Discrete Adjustment | -3,616 | 2,336 | -14,627 |
Inventory Recall Expense | $6,000 | ' | ' |
Sales to First Customer [Member] | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' |
Concentration Risk, Percentage | 13.00% | 15.00% | 18.00% |
Sales to Second Customer [Member] | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' |
Concentration Risk, Percentage | 11.00% | 10.00% | ' |
Subsequent_Events_Subsequent_E
Subsequent Events Subsequent Events (Details) (USD $) | 12 Months Ended | 3 Months Ended | 3 Months Ended | 12 Months Ended | ||||
In Thousands, except Share data, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Sep. 30, 2014 | Jul. 17, 2014 | Sep. 30, 2014 | Jul. 17, 2014 | Jun. 30, 2015 | Jun. 30, 2015 |
Hain Pure Protein [Domain] | Hain Pure Protein [Domain] | Subsequent Event [Member] | Subsequent Event [Member] | Inventory Recall Expense - Potential Cost Range (Lower) [Domain] | Inventory Recall Expense - Potential Cost Range (Upper) [Domain] | |||
Subsequent Event [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Business Acquisition, Percentage of Voting Interests Acquired | ' | ' | ' | ' | ' | 51.30% | ' | ' |
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned | $159,521 | $102,636 | ' | $19,690 | ' | ' | ' | ' |
Payments to Acquire Businesses and Interest in Affiliates | ' | ' | ' | ' | 20,310 | ' | ' | ' |
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | 1,779,917 | 1,698,472 | 231,428 | ' | ' | ' | ' | ' |
Inventory Recall Expense | $6,000 | ' | ' | ' | ' | ' | $4,000 | $8,000 |
Schedule_II_Valuation_and_Qual1
Schedule II - Valuation and Qualifying Accounts (Details) (USD $) | 12 Months Ended | |||||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 | |||
Allowance for Doubtful Accounts [Member] | ' | ' | ' | |||
Movement in Valuation Allowances and Reserves [Roll Forward] | ' | ' | ' | |||
Valuation Allowances and Reserves, Balance beginning of period | $2,564 | $2,661 | $1,230 | |||
Valuation Allowances and Reserves, Charged to Cost and Expense | 51 | 67 | 546 | |||
Valuation Allowances and Reserves, Charged to Other Accounts | 330 | [1] | 0 | [1] | 969 | [1] |
Valuation Allowances and Reserves, Deductions | -1,359 | [2] | -164 | [2] | -84 | [2] |
Valuation Allowances and Reserves, Balance end of period | 1,586 | 2,564 | 2,661 | |||
Valuation Allowance of Deferred Tax Assets [Member] | ' | ' | ' | |||
Movement in Valuation Allowances and Reserves [Roll Forward] | ' | ' | ' | |||
Valuation Allowances and Reserves, Balance beginning of period | 10,456 | 11,183 | 10,426 | |||
Valuation Allowances and Reserves, Charged to Cost and Expense | 1,466 | -1,160 | 1,354 | |||
Valuation Allowances and Reserves, Charged to Other Accounts | 0 | [1] | 0 | [1] | 0 | [1] |
Valuation Allowances and Reserves, Deductions | -2,092 | [2] | 433 | [2] | -597 | [2] |
Valuation Allowances and Reserves, Balance end of period | $9,830 | $10,456 | $11,183 | |||
[1] | Represents the allowance for doubtful accounts of the business acquired during the fiscal year | |||||
[2] | Amounts written off and changes in exchange rates |