Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Jun. 30, 2015 | Aug. 17, 2015 | Dec. 31, 2014 | |
Document Information [Line Items] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Jun. 30, 2015 | ||
Document Fiscal Year Focus | 2,015 | ||
Document Fiscal Period Focus | FY | ||
Trading Symbol | HAIN | ||
Entity Registrant Name | HAIN CELESTIAL GROUP INC. | ||
Entity Central Index Key | 910,406 | ||
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 Common Stock, Shares Outstanding | 102,611,244 | ||
Entity Public Float | $ 5,841,951,000 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Jun. 30, 2015 | Jun. 30, 2014 | |
ASSETS | |||
Cash and cash equivalents | $ 166,922 | $ 123,751 | |
Accounts receivable, less allowance for doubtful accounts | 320,197 | 287,915 | |
Inventories | 382,211 | 320,251 | |
Deferred income taxes | 20,758 | 23,780 | |
Prepaid expenses and other current assets | 42,931 | 47,906 | |
Total current assets | 933,019 | 803,603 | |
Property, plant and equipment, net | 344,262 | 310,661 | |
Goodwill | [1] | 1,136,079 | 1,134,368 |
Trademarks and other intangible assets, net | 647,754 | 651,482 | |
Investments and joint ventures | 2,305 | 36,511 | |
Other assets | 33,851 | 28,692 | |
Total assets | 3,097,270 | 2,965,317 | |
LIABILITIES AND STOCKHOLDERS' EQUITY | |||
Accounts payable | 251,999 | 239,162 | |
Accrued expenses and other current liabilities | 79,167 | 84,906 | |
Current portion of long-term debt | 31,275 | 100,096 | |
Total current liabilities | 362,441 | 424,164 | |
Long-term Debt, Excluding Current Maturities | 812,608 | 767,827 | |
Deferred income taxes | 145,297 | 148,439 | |
Other noncurrent liabilities | 5,237 | 5,020 | |
Total liabilities | 1,325,583 | 1,345,450 | |
Stockholders' equity: | |||
Preferred stock - $.01 par value, authorized 5,000,000 shares, no shares issued | 0 | 0 | |
Common stock - $.01 par value, authorized 150,000,000 shares | 1,058 | 1,031 | |
Additional paid-in capital | 1,073,671 | 969,182 | |
Retained earnings | 797,514 | 629,618 | |
Accumulated other comprehensive income | (42,406) | 60,128 | |
Total stockholders' equity including treasury stock | 1,829,837 | 1,659,959 | |
Less: shares of treasury stock, at cost | (58,150) | (40,092) | |
Total stockholders' equity | 1,771,687 | 1,619,867 | |
Total liabilities and stockholders' equity | $ 3,097,270 | $ 2,965,317 | |
[1] | The total carrying value of goodwill for all periods in the table above is reflected net of $42,029 of accumulated impairment charges recorded during fiscal 2009 which relate to the Company’s United Kingdom and Europe operating segments. |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Jun. 30, 2015 | Jun. 30, 2014 |
Statement of Financial Position [Abstract] | ||
Accounts receivable, allowance for doubtful accounts | $ 896 | $ 1,586 |
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 | 150,000,000 | 150,000,000 |
Common stock, shares issued | 105,840,586 | 103,143,018 |
Treasury stock, shares | 3,229,342 | 2,906,160 |
Consolidated Statements Of Inco
Consolidated Statements Of Income - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2013 | |
Net sales | $ 2,688,515 | $ 2,153,611 | $ 1,734,683 |
Cost of sales | 2,069,898 | 1,586,418 | 1,259,823 |
Gross profit | 618,617 | 567,193 | 474,860 |
Selling, general and administrative expenses | 348,517 | 311,288 | 274,750 |
Amortization/impairment of Intangible Assets | 23,495 | 15,600 | 12,192 |
Acquisition related expenses and restructuring charges | 8,860 | 12,568 | 13,606 |
Operating income | 237,745 | 227,737 | 174,312 |
Interest and other expenses, net | 22,455 | 20,143 | 20,490 |
Income before income taxes and equity in earnings of equity-method investees | 215,290 | 207,594 | 153,822 |
Provision for income taxes | 47,883 | 70,099 | 34,324 |
Income (Loss) from Equity Method Investments | (489) | (3,985) | (295) |
Income (Loss) from Continuing Operations Attributable to Parent | 167,896 | 141,480 | 119,793 |
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent | 0 | (1,629) | (5,137) |
Net income | $ 167,896 | $ 139,851 | $ 114,656 |
Net income per common share: | |||
Income from Continuing Operations, Per Basic Share | $ 1.65 | $ 1.45 | $ 1.30 |
Income (Loss) from Discontinued Operations, Net of Tax, Per Basic Share | 0 | (0.02) | (0.06) |
Earnings Per Share, Basic | 1.65 | 1.43 | 1.24 |
Income from Continuing Operations, Per Diluted Share | 1.62 | 1.42 | 1.26 |
Income (Loss) from Discontinued Operations, Net of Tax, Per Diluted Share | 0 | (0.02) | (0.05) |
Earnings Per Share, Diluted | $ 1.62 | $ 1.40 | $ 1.21 |
Shares used in the calculation of net income per common share: | |||
Basic | 101,703 | 97,750 | 92,352 |
Diluted | 103,421 | 100,006 | 95,144 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income Statement - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2013 | |
Net Income (Loss) Attributable to Parent | $ 167,896 | $ 139,851 | $ 114,656 |
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, before Tax | (107,887) | 90,277 | (26,086) |
Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Tax | 4,678 | 348 | 959 |
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax | (103,209) | 90,625 | (25,127) |
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax | 2,093 | (1,734) | 705 |
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Tax | (512) | 330 | (176) |
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax | 1,581 | (1,404) | 529 |
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, before Tax | (1,575) | (3,058) | 4,512 |
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Tax | 669 | 1,216 | (1,782) |
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Net of Tax | (906) | (1,842) | 2,730 |
Other Comprehensive Income (Loss), before Tax | (107,369) | 85,485 | (20,869) |
Other Comprehensive Income (Loss), Tax | 4,835 | 1,894 | (999) |
Other Comprehensive Income (Loss), Net of Tax | (102,534) | 87,379 | (21,868) |
Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $ 65,362 | $ 227,230 | $ 92,788 |
Consolidated Statement Of Stock
Consolidated Statement Of Stockholders' Equity - USD ($) $ in Thousands | Total | Common Stock [Member] | Additional Paid-In Capital [Member] | Retained Earnings [Member] | Treasury Stock [Member] | Accumulated Other Comprehensive Income (Loss) [Member] |
Balance at Jun. 30, 2012 | $ 964,602 | $ 923 | $ 615,736 | $ 375,111 | $ (21,785) | $ (5,383) |
Balance, shares at Jun. 30, 2012 | 92,303,356 | 2,405,686 | ||||
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 | $ 23 | 19,920 | |||
Issuance of common stock pursuant to compensation plans, shares | 2,343,758 | |||||
Stock Issued During Period, Value, Acquisitions | 102,636 | $ 34 | 102,602 | |||
Stock Issued During Period, Shares, Acquisitions | 3,396,944 | |||||
Stock based compensation income tax effects | 17,016 | 17,016 | ||||
Shares Paid for Tax Withholding for Share Based Compensation | 266,464 | |||||
Adjustments Related to Tax Withholding for Share-based Compensation | (8,440) | $ (8,440) | ||||
Stock based compensation charge | 13,010 | 13,010 | ||||
Balance at Jun. 30, 2013 | 1,201,555 | $ 980 | 768,284 | 489,767 | $ (30,225) | (27,251) |
Balance, shares at Jun. 30, 2013 | 98,044,058 | 2,672,150 | ||||
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 | $ 15 | 14,919 | $ 156 | ||
Issuance of common stock pursuant to compensation plans, shares | 1,539,126 | (12,664) | ||||
Stock Issued During Period, Value, Acquisitions | 159,521 | $ 36 | 159,485 | |||
Stock Issued During Period, Shares, Acquisitions | 3,559,834 | |||||
Stock based compensation income tax effects | 14,046 | 14,046 | ||||
Shares Paid for Tax Withholding for Share Based Compensation | 246,674 | |||||
Adjustments Related to Tax Withholding for Share-based Compensation | (10,023) | $ (10,023) | ||||
Stock based compensation charge | 12,448 | 12,448 | ||||
Balance at Jun. 30, 2014 | $ 1,619,867 | $ 1,031 | 969,182 | 629,618 | $ (40,092) | 60,128 |
Balance, shares at Jun. 30, 2014 | 103,143,018 | 103,143,018 | 2,906,160 | |||
Net income | $ 167,896 | 167,896 | ||||
Other Comprehensive Income (Loss), Net of Tax | (102,534) | (102,534) | ||||
Issuance of common stock pursuant to compensation plans | 26,085 | $ 20 | 26,065 | |||
Issuance of common stock pursuant to compensation plans, shares | 1,967,728 | |||||
Stock Issued During Period, Value, Acquisitions | 34,136 | $ 7 | 34,129 | |||
Stock Issued During Period, Shares, Acquisitions | 729,840 | |||||
Stock based compensation income tax effects | 32,098 | 32,098 | ||||
Shares Paid for Tax Withholding for Share Based Compensation | 323,182 | |||||
Adjustments Related to Tax Withholding for Share-based Compensation | (18,058) | $ (18,058) | ||||
Stock based compensation charge | 12,197 | 12,197 | ||||
Balance at Jun. 30, 2015 | $ 1,771,687 | $ 1,058 | $ 1,073,671 | $ 797,514 | $ (58,150) | $ (42,406) |
Balance, shares at Jun. 30, 2015 | 105,840,586 | 105,840,586 | 3,229,342 |
Consolidated Statements Of Cash
Consolidated Statements Of Cash Flows - Business Acquisition, Acquiree [Domain] - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2013 | |
CASH FLOWS FROM OPERATING ACTIVITIES | |||
Net income | $ 167,896 | $ 139,851 | $ 114,656 |
Adjustments to reconcile net income to net cash provided by (used in) operating activities: | |||
Depreciation and amortization | 56,587 | 48,040 | 40,095 |
Deferred income taxes | (11,603) | (1,350) | (7,403) |
Equity in net (income) loss of equity-method investees | (489) | (3,985) | (295) |
Stock based compensation | 12,197 | 12,448 | 13,010 |
Tax benefit from stock based compensation | (390) | (1,339) | (1,037) |
Contingent consideration expense | 280 | (3,026) | 2,720 |
Gain (Loss) on Disposition of Business | 0 | 1,629 | 4,200 |
Gain (Loss) on Disposition of Stock in Subsidiary or Equity Method Investee | (8,256) | 0 | 0 |
Asset Impairment Charges | 5,510 | 0 | 0 |
Other non-cash items, net | (1,428) | 1,175 | 53 |
Increase (decrease) in cash attributable to changes in operating assets and liabilities, net of amounts applicable to acquisitions: | |||
Accounts receivable | (31,846) | 967 | (47,751) |
Inventories | (21,097) | (22,775) | (28,342) |
Other current assets | 7,699 | (7,948) | (8,145) |
Other assets | (3,964) | (5,540) | (10,082) |
Accounts payable and accrued expenses | 13,606 | 23,943 | 47,209 |
Net cash provided by operating activities | 185,482 | 184,768 | 120,962 |
CASH FLOWS FROM INVESTING ACTIVITIES | |||
Acquisitions, net of cash acquired | (104,633) | (177,290) | (350,426) |
Proceeds from Divestiture of Interest in Consolidated Subsidiaries | 0 | 0 | 13,012 |
Purchases of property and equipment | (51,217) | (41,611) | (72,877) |
Proceeds from Equity Method Investment, Dividends or Distributions | 0 | 8,288 | 3,110 |
Proceeds from sale of investment | 2,851 | 4,377 | 0 |
Proceeds from Sale of Property, Plant, and Equipment | 1,699 | 0 | 1,045 |
Net cash used in investing activities | (151,300) | (206,236) | (406,136) |
CASH FLOWS FROM FINANCING ACTIVITIES | |||
Proceeds from exercises of stock options, net of related expenses | 18,643 | 7,320 | 12,763 |
Borrowings under bank revolving credit facility | 48,951 | 108,326 | 263,458 |
Repayments of other long-term debt, net | (54,853) | (7,228) | 12,377 |
Excess tax benefits from stock based compensation | 25,701 | 14,226 | 15,979 |
Business Acquisition, Contingent Consideration, Cash Payment, Financing | (3,217) | (11,800) | 0 |
Shares withheld for payment of employee payroll taxes | (18,058) | (10,023) | (8,440) |
Net cash provided by financing activities | 17,167 | 100,821 | 296,137 |
Effect of exchange rate changes on cash | (8,178) | 3,135 | 405 |
Net increase (decrease) in cash and cash equivalents | 43,171 | 82,488 | 11,368 |
Cash and cash equivalents at beginning of period | 123,751 | 41,263 | 29,895 |
Cash and cash equivalents at end of period | $ 166,922 | $ 123,751 | $ 41,263 |
Business
Business | 12 Months Ended |
Jun. 30, 2015 | |
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”) manufacture, market, distribute and sell organic and natural products under brand names which are sold as “better-for-you” products, providing consumers with the opportunity to lead A Healthier Way of Life TM . The Company is a leader in many organic and natural products categories, with many recognized brands in the various market categories they serve. The brand names include Almond Dream ® , Arrowhead Mills ® , Bearitos ® , BluePrint ® , Celestial Seasonings ® , Cully & Sully ® , Danival ® , DeBoles ® , Earth’s Best ® , Ella’s Kitchen ® , Empire ® , Europe’s Best ® , Farmhouse Fare ® , Frank Cooper’s ® , FreeBird ® , Gale’s ® , Garden of Eatin’ ® , GG UniqueFiber TM , Hain Pure Foods ® , Hartley’s ® , Health Valley ® , Imagine ® , Johnson’s Juice Co. ® , Joya ® , Kosher Valley ® , Lima ® , Linda McCartney ® (under license), MaraNatha ® , Natumi ® , New Covent Garden Soup Co. ® , Plainville Farms ® , Rice Dream ® , Robertson’s ® , Rudi’s Gluten-Free Bakery ® , Rudi’s Organic Bakery ® , Sensible Portions ® , Spectrum ® , Spectrum Essentials ® , Soy Dream ® , Sun-Pat ® , SunSpire ® , Terra ® , The Greek Gods ® , Tilda ® , Walnut Acres ® , WestSoy ® and Yves Veggie Cuisine ® . Our personal care products are marketed under the Alba Botanica ® , Avalon Organics ® , Earth’s Best ® , JASON ® , Live Clean ® and Queen Helene ® brands. The Company had a minority investment in Hain Pure Protein Corporation (“HPPC”) through June 30, 2014. HPPC processes, markets and distributes antibiotic-free, organic and other poultry products. On July 17, 2014, the Company acquired the remaining 51.3% of HPPC that it did not already own at which point HPPC became a wholly-owned subsidiary. Included in the acquisition was HPPC’s 19% interest in EK Holdings, Inc. (“Empire”), which grows, processes and sells kosher poultry and other products. On March 4, 2015, HPPC purchased the remaining 81% in Empire that it did not already own (see Note 4). The Company also has an investment in a joint venture in Hong Kong with Hutchison China MediTech Ltd. (“Chi-Med”), a majority owned subsidiary of CK Hutchison Holdings Limited, a company listed on the Hong Kong Stock Exchange, to market and distribute certain of the Company’s brands in China and other markets (see Note 14). The Company’s operations are managed in five operating segments: United States, United Kingdom, Hain Pure Protein, Canada and Europe. Refer to Note 18 for additional information and selected financial information for the reportable segments. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Jun. 30, 2015 | |
Accounting Policies [Abstract] | |
Basis of Presentation and Significant Accounting Policies [Text Block] | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES All amounts in the 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 The Company’s 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. On December 29, 2014, the Company effected a two-for-one stock split of its common stock in the form of a 100% stock dividend to shareholders of record as of December 12, 2014. All share and earnings per share information have been retroactively adjusted to reflect the stock split and the incremental par value of the newly issued shares was recorded with the offset to additional paid-in capital. 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 The Company routinely performs credit evaluations on existing and new customers. The Company applies reserves for delinquent or uncollectible trade receivables based on a specific identification methodology and also applies an additional reserve based on the experience the Company has with its trade receivables aging categories. Credit losses have been within the Company’s expectations in recent years. While one of the Company’s customers represented approximately 9% and 10% of trade receivables balances as of June 30, 2015 and 2014 , respectively, and a second customer represented approximately 8% and 10% of trade receivable balances as of June 30, 2015 and 2014 , respectively, the Company believes there is no significant or unusual credit exposure at this time. Based on cash collection history and other statistical analysis, the Company estimates the amount of unauthorized deductions customers have taken to be repaid in the near future and record a chargeback receivable. The Company’s estimate of this receivable balance ( $6,049 at June 30, 2015 and $4,883 at June 30, 2014 ) could be different had the Company used different assumptions and judgments. During the fiscal years ended June 30, 2015 , 2014 and 2013 , sales to one customer and its affiliates approximated 12% , 13% and 15% of consolidated net sales, respectively. Sales to a second customer and its affiliates approximated 10% , 11% and 10% during the fiscal years ended June 30, 2015 , 2014 , and 2013 , respectively. Inventory Inventory is valued at the lower of cost or market, utilizing the first-in, first-out method. The Company provides 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 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. The Company believes the asset lives assigned to our property, plant and equipment are within ranges generally used in consumer products manufacturing and distribution businesses. The Company’s 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, the Company believes no impairment of the carrying value of such assets exists. Ordinary repairs and maintenance are expensed as incurred. The Company utilizes 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 $10,271 in fiscal 2015 , $10,049 in fiscal 2014 and $7,516 in fiscal 2013. The Company’s 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 the Company generates and on their own initiative with the expectation that the Company will accept their new product ideas and market them under the Company’s brands. These efforts by co-packers and suppliers have resulted in a substantial number of new product introductions. The Company is unable to estimate the amount of expenditures made by co-packers and suppliers on research and development; however, the Company believes such activities and expenditures are important to its continuing ability to introduce new products. Advertising Costs Advertising costs, which are included in selling, general and administrative expenses, amounted to $20,868 in fiscal 2015 , $15,643 in fiscal 2014 and $14,030 in fiscal 2013. Such costs are expensed as incurred. Income Taxes The Company follows 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. The Company recognizes liabilities for uncertain tax positions based on a two-step process prescribed by the authoritative guidance. The first step requires the Company to determine if the weight of available evidence indicates that the tax position has met the threshold for recognition; therefore, the Company 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 the Company 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. The Company reevaluates the uncertain tax positions each period 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. The Company records interest and penalties in the 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, 2015 and 2014 , the Company had $45,101 and $31,902 invested in money market securities, which are classified as cash equivalents. At June 30, 2015 and 2014 , the carrying values of financial instruments such as accounts receivable, accounts payable, accrued expenses and other current liabilities, as well as borrowings under our credit facility and other borrowings, 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. The fair value of restricted stock awards is equal to the market value of the Company’s common stock on the date of grant, or is estimated using a Monte Carlo simulation if the award contains a market condition. The fair value of stock based compensation awards is recognized in expense over the vesting period using the straight-line method. For awards that contain a market condition, expense is recognized over the derived service period using an accelerated recognition 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, estimated forfeiture rates that are derived from historical employee termination activity are applied 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 The Company periodically evaluates 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 April 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“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. Recently Issued Accounting Pronouncements Not Yet Effective In July 2015, the FASB issued ASU No. 2015-11, Inventory (Topic 330): Simplifying the Measurement of Inventory . ASU 2015-11 requires inventory measured using any method other than last-in, first out or the retail inventory method to be subsequently measured at the lower of cost or net realizable value, rather than at the lower of cost or market. ASU 2015-11 is effective for annual reporting periods beginning after December 15, 2016 and for interim periods within such annual period. Early application is permitted. The Company is currently evaluating the potential effects of adopting the provisions of ASU No. 2015-11. In April 2015, the FASB issued ASU No. 2015-03, Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs . The amendments in ASU No. 2015-03 require that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability. The recognition and measurement guidance for debt issuance costs are not affected by the amendments. ASU No. 2015-03 must be applied retrospectively and is effective for interim and annual periods beginning after December 15, 2015, with early adoption permitted. In August 2015, the FASB issued ASU No. 2015-15, Interest - Imputation of Interest (Subtopic 835-30): Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements . ASU No. 2015-15 states that for debt issuance costs related to line-of-credit arrangements, the SEC staff would not object to an entity deferring and presenting such costs as an asset and subsequently amortizing the deferred debt issuance costs ratably over the term of the line-of-credit arrangement, regardless of whether there are any outstanding borrowings on the line-of-credit arrangement. The adoption of the new guidance is not expected to materially impact the Company’s consolidated financial position or results of operations. The Company intends to early adopt this new guidance on July 1, 2015 (beginning of fiscal 2016). In June 2014, the FASB issued ASU No. 2014-12, Compensation - Stock Compensation (Topic 718): Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period . ASU No. 2014-12 requires that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. As such, the performance target should not be reflected in estimating the grant date fair value of the award. ASU No. 2014-12 is effective for annual periods beginning after December 15, 2015 and for interim periods within such annual period, with early adoption permitted. The Company is currently evaluating the potential effects of adopting the provisions of ASU No. 2014-12. 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 annual reporting periods beginning after December 15, 2017 and for interim periods within such annual period, with early application permitted for annual reporting periods beginning after December 15, 2016. 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, 2015 | |
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, 2015 2014 2013 Numerator: Income from continuing operations $ 167,896 $ 141,480 $ 119,793 Discontinued operations — (1,629 ) (5,137 ) Net income $ 167,896 $ 139,851 $ 114,656 Denominator (in thousands): Denominator for basic earnings per share - weighted average shares outstanding during the period 101,703 97,750 92,352 Effect of dilutive stock options, unvested restricted stock and unvested restricted share units 1,718 2,256 2,792 Denominator for diluted earnings per share - adjusted weighted average shares and assumed conversions 103,421 100,006 95,144 Basic net income per common share: From continuing operations $ 1.65 $ 1.45 $ 1.30 From discontinued operations — (0.02 ) (0.06 ) Net income per common share - basic $ 1.65 $ 1.43 $ 1.24 Diluted net income per common share: From continuing operations $ 1.62 $ 1.42 $ 1.26 From discontinued operations — (0.02 ) (0.05 ) Net income per common share - diluted $ 1.62 $ 1.40 $ 1.21 Note: On December 29, 2014, the Company effected a two-for-one stock split of its common stock in the form of a 100% stock dividend to shareholders of record as of December 12, 2014. All share and per share information has been retroactively adjusted to reflect the stock split. 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 106,800 , 135,905 and 300,000 were excluded from our diluted earnings per share calculations for the fiscal years ended June 30, 2015 , 2014 and 2013 , respectively, as such awards are contingently issuable based on market or performance conditions and such conditions had not been achieved during the respective periods. |
Acquisitions and Disposals
Acquisitions and Disposals | 12 Months Ended |
Jun. 30, 2015 | |
Business Combinations [Abstract] | |
Business Combination Disclosure [Text Block] | ACQUISITIONS The Company accounts for acquisitions using the acquisition method of accounting. The results of operations of the acquisitions typically have been included in the consolidated results from their respective dates of acquisition. The purchase price of each acquisition is allocated 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, restructuring and integration charges, net” in the Consolidated Statements of Income. Acquisition-related costs of $5,731 , $7,238 , and $5,461 were expensed in the fiscal years ended June 30, 2015 , 2014 , and 2013 , respectively. The expenses incurred during fiscal 2015 primarily relate to professional fees, severance charges and other transaction related costs associated with the three acquisitions completed in the current fiscal year. The expenses incurred during fiscal 2014 primarily relate to professional fees and stamp duty associated with the acquisition of Tilda and during fiscal 2013 primarily related to professional fees associated with the acquisition of the UK Ambient Grocery Brands and BluePrint (as discussed below). Fiscal 2015 On July 17, 2014, the Company acquired the remaining 51.3% of HPPC that it did not already own, at which point HPPC became a wholly-owned subsidiary. HPPC processes, markets and distributes antibiotic-free, organic and other poultry products. HPPC held a 19% interest in Empire, which grows, processes and sells kosher poultry and other products. Consideration in the transaction consisted of cash totaling $20,310 and 462,856 shares of the Company’s common stock valued at $19,690 . The cash consideration paid was funded with existing cash balances. Additionally, HPPC’s existing bank borrowings were repaid on September 30, 2014 with proceeds from borrowings under the Credit Agreement (see Note 10). The carrying amount of the pre-existing 48.7% investment in HPPC as of June 30, 2014 was $30,740 . Due to the acquisition of the remaining 51.3% of HPPC, the Company adjusted the carrying amount of its pre-existing investment to its fair value. This resulted in a gain of $5,334 recorded in “Interest and other expenses, net” in the Consolidated Statements of Income. On February 20, 2015, the Company acquired Belvedere International, Inc., (“Belvedere”) a leader in health and beauty care products including the Live Clean ® brand with approximately 200 baby, body and hair care products as well as several mass market brands sold primarily in Canada and manufactured in a company facility in Mississauga, Ontario, Canada. Consideration in the transaction consisted of cash totaling C$17,454 ( $13,988 at the transaction date exchange rate), which included debt that was repaid at closing, and was funded with existing cash balances. Additionally, contingent consideration of up to a maximum of C$4,000 is payable based on the achievement of specified operating results during the two consecutive one-year periods following the closing date. Belvedere is included in our Canada operating segment. Net sales and income before income taxes from continuing operations attributable to the Belvedere acquisition and included in our consolidated results were not material in the fiscal year ended June 30, 2015 . On March 4, 2015, the Company acquired the remaining 81% of Empire that it did not already own, at which point Empire became a wholly-owned subsidiary. Consideration in the transaction consisted of cash totaling $57,595 (net of cash acquired) which included debt that was repaid at closing. The acquisition was funded with borrowings under the Credit Agreement. The carrying amount of the pre-existing 19% investment in Empire as of March 4, 2015 was $6,864 . Due to the acquisition of the remaining 81% of Empire, the Company adjusted the carrying amount of its pre-existing investment to its fair value. This resulted in a gain of $2,922 recorded in “Interest and other expenses, net” in the Consolidated Statements of Income. Net sales and income before income taxes from continuing operations attributable to the Empire acquisition and included in our consolidated results were not material in the fiscal year ended June 30, 2015 . The following table summarizes the components of the preliminary purchase price allocations for the fiscal 2015 acquisitions: HPPC Belvedere Empire Total Carrying value of pre-existing interest, after fair value adjustments: $ 36,074 $ — $ 9,786 $ 45,860 Purchase Price: Cash paid 20,310 13,988 57,595 91,893 Equity issued 19,690 — — 19,690 Fair value of contingent consideration — 1,603 — 1,603 Total investment: $ 76,074 $ 15,591 $ 67,381 $ 159,046 Allocation: Current assets $ 52,055 $ 10,042 $ 19,628 $ 81,725 Property, plant and equipment 21,864 2,598 13,094 37,556 Other assets 7,288 — — 7,288 Identifiable intangible assets 20,700 5,698 33,890 60,288 Deferred taxes 1,388 (3,890 ) (14,443 ) (16,945 ) Assumed liabilities (41,705 ) (1,784 ) (15,632 ) (59,121 ) Goodwill 14,484 2,927 30,844 48,255 $ 76,074 $ 15,591 $ 67,381 $ 159,046 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 preliminary 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 $14,621 with an estimated useful life of 10.8 years and trade names valued at $45,667 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 the Company’s existing infrastructure to expand sales of the acquired business’ products. The goodwill recorded as a result of these 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, 2015 and 2014 , as if only the acquisitions completed in fiscal 2015 (HPPC, Belvedere and Empire) had been completed at the beginning of fiscal year 2014 . 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, which include amortization expense associated with acquired identifiable intangible assets and the impact of reversing our previously recorded equity in HPPC’s net income as prior to the date of acquisition, HPPC was accounted for under the equity-method of accounting. Fiscal Year ended June 30, 2015 2014 Net sales from continuing operations $ 2,797,368 $ 2,558,173 Net income from continuing operations $ 171,130 $ 148,215 Net income per common share from continuing operations - diluted $ 1.65 $ 1.48 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 $50,807 (which is net of cash acquired) and 267,488 shares of the Company’s common stock valued at $11,168 . The cash consideration paid was funded with borrowings under the Credit Agreement. On January 13, 2014, the Company 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 Tilda ® brand and other names 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, the Company also completed the acquisition of certain assets of Tilda Riceland Limited in India. Consideration in these transactions consisted of cash totaling $123,822 (which is net of cash acquired and based on the exchange rates in effect at the respective transaction dates), 3,292,346 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 and payable within one year following completion of the acquisition, with a portion being payable in Company shares at the Company’s option. On January 13, 2015, the Company paid £10,000 ( $15,114 at the transaction date exchange rate and which was funded with existing cash balances) and issued 266,984 shares of the Company’s common stock in full repayment of this obligation. As a result, the Company recorded a realized foreign currency gain of $3,397 which represents the change in foreign currency rates from the acquisition date through the repayment date. The cash consideration paid for the initial purchase price was funded with borrowings under the Credit Agreement. The following table summarizes the components of the purchase price allocations for the fiscal 2014 acquisitions: Tilda Rudi’s Total Purchase price: Cash paid $ 123,822 $ 50,807 $ 174,629 Equity issued 148,353 11,168 159,521 Vendor Loan Note 32,958 — 32,958 $ 305,133 $ 61,975 $ 367,108 Allocation: Current assets $ 86,828 $ 8,058 $ 94,886 Property, plant and equipment 39,806 3,774 43,580 Identifiable intangible assets 124,549 27,514 152,063 Assumed liabilities (93,742 ) (6,319 ) (100,061 ) Deferred income taxes (26,230 ) 1,932 (24,298 ) Goodwill 173,922 27,016 200,938 $ 305,133 $ 61,975 $ 367,108 The fair values assigned to identifiable intangible assets acquired were based on assumptions and estimates made by management. Identifiable intangible assets acquired consist principally of customer relationships valued at $41,976 with a weighted average estimated useful life of 13.2 years and trade names valued at $110,087 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 the Company’s 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, which include amortization expense associated with acquired identifiable intangible assets and interest expense associated with bank borrowings to fund the acquisitions. 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 $ 1.49 $ 1.41 Fiscal 2013 On May 2, 2013, the Company 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 1,375,558 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, the Company 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 348,534 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, the Company completed the disposal of our sandwich business, including the Daily Bread TM 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). On October 27, 2012, the Company 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 1,672,852 shares of the Company’s common stock valued at $48,061 . 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 through the end of fiscal 2013 did 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 was ongoing. On August 20, 2012, the Company completed the sale of its 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). A preliminary loss on disposal was recognized 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. 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. 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. |
Discontinued Operations
Discontinued Operations | 12 Months Ended |
Jun. 30, 2015 | |
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 fiscal year ended June 30, 2014. The operating results of Grains Noirs were not material to the Company’s consolidated financial statements. The Company recorded a gain of $1,148 during the fiscal year ended June 30, 2014 related to the finalization of a working capital adjustment on the sale of the CRM business in the United Kingdom, which was completed in fiscal 2013. Summarized results of our discontinued operations are as follows. There were no amounts recorded in discontinued operations for the fiscal year ended June 30, 2015. Fiscal Year ended June 30, 2014 2013 Net sales $ — $ 15,313 Operating loss $ — $ (1,176 ) Loss on sale of business, net of tax $ (1,629 ) $ (4,200 ) Loss from discontinued operations, net of tax $ (1,629 ) $ (5,137 ) |
Inventories
Inventories | 12 Months Ended |
Jun. 30, 2015 | |
Inventory, Net [Abstract] | |
Inventories | INVENTORIES Inventories consisted of the following: June 30, June 30, Finished goods $ 240,004 $ 190,818 Raw materials, work-in-progress and packaging 142,207 129,433 $ 382,211 $ 320,251 |
Property, Plant And Equipment
Property, Plant And Equipment | 12 Months Ended |
Jun. 30, 2015 | |
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, Land $ 36,386 $ 34,021 Buildings and improvements 88,507 75,895 Machinery and equipment 359,183 329,680 Furniture and fixtures 10,272 10,352 Leasehold improvements 19,257 21,836 Construction in progress 11,444 4,850 525,049 476,634 Less: Accumulated depreciation and amortization 180,787 165,973 $ 344,262 $ 310,661 |
Goodwill And Other Intangible A
Goodwill And Other Intangible Assets | 12 Months Ended |
Jun. 30, 2015 | |
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-life intangible assets below their carrying value, an interim test is performed. During the fiscal year ended June 30, 2015 , the Company recorded a non-cash partial impairment charge of $5,510 related to a United Kingdom indefinite-lived intangible asset (the Company’s New Covent Garden Soup Co. ® trademark). There were no other impairment charges recorded during fiscal 2014 or 2015 . Changes in the carrying amount of goodwill by reportable segment for the fiscal years ended June 30, 2015 and 2014 were as follows: United States United Kingdom Hain Pure Protein Rest of World Total 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 Acquisition activity 3,792 (1,395 ) 45,328 2,927 50,652 Translation and other adjustments, net (3,275 ) (36,257 ) — (9,409 ) (48,941 ) Balance as of June 30, 2015 (a) $ 607,843 $ 420,166 $ 45,328 $ 62,742 $ 1,136,079 (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, 2015 , included in trademarks and other intangible assets on the balance sheet are $207,609 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, Non-amortized intangible assets: Trademarks and tradenames $ 507,853 $ 498,068 Amortized intangible assets: Other intangibles 207,609 206,071 Less: accumulated amortization (67,708 ) (52,657 ) Net carrying amount $ 647,754 $ 651,482 Amortization expense included in continuing operations was as follows: Fiscal Year ended June 30, 2015 2014 2013 Amortization of intangible assets $ 17,985 $ 15,600 $ 12,398 Expected amortization expense over the next five fiscal years is as follows: Fiscal Year ended June 30, 2016 2017 2018 2019 2020 Estimated amortization expense $ 17,017 $ 16,613 $ 16,522 $ 13,967 $ 13,592 The weighted average remaining amortization period of amortized intangible assets is 10.2 years . |
Accrued Expenses and Other Curr
Accrued Expenses and Other Current Liabilities | 12 Months Ended |
Jun. 30, 2015 | |
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, Payroll, employee benefits and other administrative accruals $ 65,044 $ 54,171 Selling and marketing related accruals 10,938 11,310 Contingent consideration, current portion — 5,611 Other 3,185 13,814 $ 79,167 $ 84,906 |
Debt and Borrowings
Debt and Borrowings | 12 Months Ended |
Jun. 30, 2015 | |
Debt Disclosure [Abstract] | |
Long-Term Debt And Credit Facility | DEBT AND BORROWINGS Debt and borrowings consisted of the following: June 30, June 30, Senior Notes $ 150,000 $ 150,000 Revolving Credit Agreement borrowings payable to banks 660,216 614,502 Tilda short-term borrowing arrangements 29,600 65,975 Vendor Loan Note (see note 4) — 34,056 Other borrowings 4,067 3,390 843,883 867,923 Short-term borrowings and current portion of long-term debt 31,275 100,096 $ 812,608 $ 767,827 The Company has $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, 2015 , $150,000 of the senior notes was outstanding. The Company has the ability and currently intends to refinance these borrowings on a long-term basis on or before the maturity date and therefore has classified these borrowings as long-term. On December 12, 2014, the Company entered into the Second Amended and Restated Credit Agreement (the “Credit Agreement”) which provides for a $1 billion unsecured revolving credit facility which may be increased by an additional uncommitted $350 million , provided certain conditions are met. The Credit Agreement expires in December 2019 . Borrowings under the Credit Agreement 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 amends and restates the Amended and Restated Credit Agreement, dated as of August 31, 2012. 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 the Company’s 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 the Company to satisfy certain financial covenants, such as maintaining a consolidated interest coverage ratio (as defined in the Credit Agreement) of no less than 4.0 to 1.0 and a consolidated leverage ratio (as defined in the Credit Agreement) of no more than 3.5 to 1.0 . The consolidated leverage ratio is subject to a step-up to 4.0 to 1.0 for the four full fiscal quarters following an acquisition. Obligations under the Credit Agreement are guaranteed by certain existing and future domestic subsidiaries of the Company. As of June 30, 2015 , there were $660,216 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 1.70% per annum; or (b) the Base Rate, as defined in the Credit Agreement, plus a rate ranging from 0.00% to 0.70% 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 and Global Swing Line loans denominated in U.S. dollars will bear interest at the Base Rate plus the Applicable Rate and Global Swing Line loans denominated in foreign currencies shall bear interest based on the overnight Eurocurrency Rate for loans denominated in such currency plus the Applicable Rate. The weighted average interest rate on outstanding borrowings under the Credit Agreement at June 30, 2015 was 1.69% . 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 0.30% 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 £50,393 . Outstanding borrowings are collateralized 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, 2015). Maturities of all debt instruments at June 30, 2015 , are as follows: Due in Fiscal Year Amount 2016 $ 31,275 2017 2,130 2018 197 2019 60 2020 810,221 $ 843,883 Interest paid during the fiscal years ended June 30, 2015 , 2014 and 2013 amounted to $22,865 , $20,560 and $19,154 , respectively. |
Income Taxes
Income Taxes | 12 Months Ended |
Jun. 30, 2015 | |
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, 2015 2014 2013 Domestic $ 176,898 $ 157,492 $ 130,908 Foreign 38,392 50,102 22,914 Total $ 215,290 $ 207,594 $ 153,822 The provision for income taxes is presented below. Fiscal Year ended June 30, 2015 2014 2013 Current: Federal $ 41,268 $ 46,722 $ 31,370 State and local 8,237 7,891 3,792 Foreign 9,981 16,836 6,565 59,486 71,449 41,727 Deferred: Federal (10,191 ) 2,287 (4,064 ) State and local (932 ) 372 (405 ) Foreign (480 ) (4,009 ) (2,934 ) (11,603 ) (1,350 ) (7,403 ) Total $ 47,883 $ 70,099 $ 34,324 Income taxes paid during the fiscal years ended June 30, 2015 , 2014 and 2013 amounted to $47,317 , $47,339 and $22,051 , 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: 2015 % 2014 % 2013 % Expected U.S. federal income tax at statutory rate $ 75,352 35.0 % $ 72,659 35.0 % $ 53,838 35.0 % State income taxes, net of federal benefit 4,834 2.2 % 5,371 2.6 % 3,278 2.1 % Domestic manufacturing deduction (1,210 ) (0.6 )% (2,482 ) (1.2 )% (2,563 ) (1.7 )% Foreign income at different rates (9,105 ) (4.2 )% (4,842 ) (2.3 )% (4,950 ) (3.2 )% Corporate tax reorganization (20,670 ) (9.6 )% — — % — — % Non-taxable gains on acquisition of pre-existing ownership interests in HPPC and Empire (2,890 ) (1.3 )% — — % — — % 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 )% Other 1,572 0.7 % 3,132 1.5 % 195 0.1 % Provision for income taxes $ 47,883 22.2 % $ 70,099 33.8 % $ 34,324 22.3 % The effective tax rate for the fiscal year ended June 30, 2015 includes an income tax benefit $20,670 resulting from an election made during the fiscal year to change the tax status of the Company’s Canadian subsidiary. 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, 2015 June 30, 2014 Current deferred tax assets: Basis difference on inventory $ 8,106 $ 5,995 Reserves not currently deductible 12,334 17,365 Other 318 420 Current deferred tax assets 20,758 23,780 Noncurrent deferred tax assets/(liabilities): Basis difference on intangible assets (155,049 ) (143,478 ) Basis difference on property and equipment (21,067 ) (17,782 ) Other comprehensive income (1,217 ) (7,969 ) Net operating loss and tax credit carryforwards 31,996 24,067 Stock based compensation 6,828 6,526 Other 2,267 27 Valuation allowances (9,055 ) (9,830 ) Noncurrent deferred tax liabilities, net (145,297 ) (148,439 ) Total net deferred tax liabilities $ (124,539 ) $ (124,659 ) We have U.S. foreign tax credit carryforwards of $3,998 at June 30, 2015 with various expiration dates through 2025. We have U.S. tax net operating losses available for carryforward at June 30, 2015 of $42,880 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 foreign net operating losses, primarily in the United Kingdom and Germany, and to a lesser extent in Belgium, totaling $9,055 . The losses in the United Kingdom were recorded prior to the acquisition of Daniels and in Germany were the result of certain factory start-up costs incurred in prior years for the Company’s plant-based beverage facility. These losses represented sufficient evidence to determine that a valuation allowance for these carryforward losses was appropriate. Under current tax law in these jurisdictions, 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. The changes in valuation allowances against deferred income tax assets were as follows: Fiscal Year ended June 30, 2015 2014 Balance at beginning of year $ 9,830 $ 10,456 Additions charged to income tax expense 214 2,226 Reductions credited to income tax expense — (760 ) Net change from liquidations, tax rate changes and other — (3,036 ) Currency translation adjustments (989 ) 944 Balance at end of year $ 9,055 $ 9,830 As of June 30, 2015 , the Company had approximately $155,152 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, 2015 2014 2013 Balance at beginning of year $ 2,351 $ 2,507 $ 1,337 Additions based on tax positions related to the current year 722 750 574 Additions for acquired companies — — 941 Reductions due to lapse in statute of limitations and settlements (753 ) (906 ) (345 ) Balance at end of year $ 2,320 $ 2,351 $ 2,507 At June 30, 2015 , $2,320 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 $10 , $6 and $268 of interest and penalties related to the above unrecognized benefits within income tax expense for the fiscal years ended June 30, 2015 , 2014 and 2013 , respectively. The Company had accrued $86 and $76 for interest and penalties at the end of fiscal 2015 and 2014 , 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 2012 . The Company is no longer subject to tax examinations in the United Kingdom for years prior to 2012 . 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. There are various tax audits currently ongoing, however the Company does not believe the ultimate outcome of such audits will have a material impact on the Company’s consolidated financial statements. |
Stockholders' Equity (Notes)
Stockholders' Equity (Notes) | 12 Months Ended |
Jun. 30, 2015 | |
Stockholders' Equity Note [Abstract] | |
Stockholders' Equity Note Disclosure [Text Block] | STOCKHOLDERS’ EQUITY Preferred Stock The Company is 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 the Company’s Common Stock. At June 30, 2015 and 2014 , no preferred stock was issued or outstanding. Common Stock Issued In connection with the acquisition of HPPC during fiscal 2015, 462,856 shares at a total value of $19,690 were issued to the sellers. In connection with the acquisitions of Rudi’s and Tilda during fiscal 2014, 3,559,834 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, 3,396,944 shares at a total value of $102,636 were issued to the sellers (see Note 4). Accumulated Other Comprehensive Income (Loss) The following tables present the changes in accumulated other comprehensive income (loss): Fiscal Year ended June 30, 2015 2014 Foreign currency translation adjustments: Other comprehensive income (loss) before reclassifications (1) $ (103,209 ) $ 90,625 Amounts reclassified into income — — Deferred gains/(losses) on cash flow hedging instruments: Other comprehensive income (loss) before reclassifications 5,449 (1,214 ) Amounts reclassified into income (2) (3,868 ) (190 ) Unrealized gain on available for sale investment: Other comprehensive income (loss) before reclassifications (595 ) (1,121 ) Amounts reclassified into income (3) (311 ) (721 ) Net change in accumulated other comprehensive income (loss) $ (102,534 ) $ 87,379 (1) Foreign currency translation adjustments include intra-entity foreign currency transactions that are of a long-term investment nature of $40,017 and $21,862 for fiscal years ended June 30, 2015 and 2014 , respectively. (2) Amounts reclassified into income for deferred gains on cash flow hedging instruments are recorded in “Cost of sales” in the Consolidated Statements of Income and, before taxes, were $5,087 and $284 for the fiscal years ended June 30, 2015 and 2014 , respectively. (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 Statements of Income. There was no tax expense associated with these gains reclassified into income as the Company utilized capital losses to offset these gains. |
Stock Based Compensation And In
Stock Based Compensation And Incentive Performance Plans | 12 Months Ended |
Jun. 30, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Stock Based Compensation And Incentive Performance Plans | STOCK BASED COMPENSATION AND INCENTIVE PERFORMANCE PLANS On December 29, 2014, we effected a two-for-one stock split of our common stock in the form of a 100% stock dividend to shareholders of record as of December 12, 2014. All share and option exercise and restricted stock price information has been retroactively adjusted to reflect the stock split. 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 3,200,000 shares of common stock were originally reserved for issuance under this plan. At various Annual Meetings of Stockholders, including the 2014 Annual Meeting, the plan was amended to increase the number of shares issuable to 31,500,000 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. Stock option awards granted under the plan expire 7 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 20, 2024. There were no options granted under this plan in fiscal years 2015 , 2014 or 2013 . There were 439,652 , 387,760 and 1,290,254 shares of restricted stock and restricted share units granted under this plan during fiscal years 2015 , 2014 and 2013 , respectively. Included in these grants during fiscal years 2015 , 2014 and 2013 were 365,400 , 353,120 and 1,227,200 , respectively, of restricted stock and restricted share units granted under the Company’s long-term incentive programs, of which 108,638 , 74,680 and 898,032 , 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, 2015 , 1,126,968 options and 1,098,254 unvested restricted stock and restricted share units were outstanding under this plan and there were 9,339,767 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 1,500,000 shares of our common stock. In December 2003, the plan was amended to increase the number of shares issuable to 1,900,000 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. Stock option awards granted under the plan expire 7 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 2015 , 2014 , or 2013 . There were 19,800 , 28,000 , and 49,500 shares of restricted stock granted under this plan during fiscal years 2015 , 2014 and 2013 , respectively. At June 30, 2015 , 46,788 unvested restricted shares were outstanding and there will be no further shares or options granted under this plan. At June 30, 2015 there were also 121,944 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 11,723,361 shares of Common Stock reserved for future issuance in connection with stock based awards as of June 30, 2015 . 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, 2015 2014 2013 Compensation cost (included in selling, general and administrative expense) $ 12,197 $ 12,448 $ 13,010 Related income tax benefit $ 4,695 $ 4,787 $ 4,969 Stock Options A summary of the stock option activity for the three fiscal years ended June 30, 2015 is as follows: 2015 Weighted Average Exercise Price 2014 Weighted Average Exercise Price 2013 Weighted Average Exercise Price Outstanding at beginning of year 2,674,290 $ 9.83 3,557,504 $ 9.44 5,160,866 $ 9.00 Exercised (1,425,378 ) $ 13.08 (882,614 ) $ 8.30 (1,590,562 ) $ 8.03 Canceled and expired — $ — (600 ) $ 8.01 (12,800 ) $ 7.44 Outstanding at end of year 1,248,912 $ 6.12 2,674,290 $ 9.83 3,557,504 $ 9.44 Options exercisable at end of year 1,248,912 $ 6.12 2,674,290 $ 9.83 3,470,854 $ 9.45 Fiscal Year ended June 30, 2015 2014 2013 Intrinsic value of options exercised $ 62,213 $ 29,778 $ 39,562 Cash received from stock option exercises $ 18,643 $ 7,320 $ 12,763 Tax benefit recognized from stock option exercises $ 24,213 $ 11,584 $ 14,468 For options outstanding and exercisable at June 30, 2015 , 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 $74,616 and the weighted average remaining contractual life was 2.3 years . At June 30, 2015 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 the restricted stock and restricted share units activity for the three fiscal years ended June 30, 2015 is as follows: 2015 Weighted Average Grant Date Fair Value (per share) 2014 Weighted Average Grant Date Fair Value (per share) 2013 Weighted Average Grant Date Fair Value (per share) Non-vested restricted stock and restricted share units - beginning of year 1,258,744 $25.44 1,547,136 $21.22 974,818 $14.97 Granted 311,284 $54.11 224,792 $41.39 1,123,064 $22.80 Vested (401,936 ) $26.86 (476,290 ) $19.09 (531,638 ) $13.12 Forfeited (23,050 ) $40.65 (36,894 ) $28.72 (19,108 ) $19.37 Non-vested restricted stock and restricted share units - end of year 1,145,042 $32.30 1,258,744 $25.44 1,547,136 $21.22 Fiscal Year ended June 30, 2015 2014 2013 Fair value of restricted stock and restricted share units granted $ 16,462 $ 9,303 $ 25,606 Fair value of shares vested $ 21,481 $ 19,905 $ 16,547 Tax benefit recognized from restricted shares vesting $ 8,364 $ 7,535 $ 6,253 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 800,000 shares of restricted stock (the “Shares”), the vesting of which is both market and time-based. The market condition is satisfied in increments of 200,000 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: $31.25 , $36.25 , $41.25 and $50.00 , respectively, the market condition for each increment of 200,000 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 200,000 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, December 13, 2013, and October 22, 2014, the four respective market conditions were satisfied. As such, the four tranches of 200,000 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, 2015 , $19,378 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 “2014-2015 LTIP” and the “2015-2016 LTIP”) that provides for a combination of equity grants and performance awards that can be earned over each two year period. The 2015-2016 LTIP awards contain an additional year of time-based vesting. Participants in the LTI Plan include the Company’s 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 2014-2015 LTIP and the 2015-2016 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 previously set under the LTI Plan covering the 2013 and 2014 fiscal years (the “2013-2014 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 2013-2014 LTIP totaled $7,439 (which were settled by the issuance of 148,168 unrestricted shares of the Company’s common stock in the first quarter of fiscal 2015). The Company has recorded expense (in addition to the stock based compensation expense associated with the Initial Equity Grants) of $4,967 , $9,495 and $7,460 for the fiscal years ended June 30, 2015 , 2014 and 2013 respectively, related to LTI plans. |
Investments And Joint Ventures
Investments And Joint Ventures | 12 Months Ended |
Jun. 30, 2015 | |
Equity Method Investments and Joint Ventures [Abstract] | |
Investments And Joint Ventures | INVESTMENTS AND JOINT VENTURES Equity method investments At June 30, 2015 , the Company owned 50.0% of a joint venture, Hutchison Hain Organic Holdings Limited (“HHO”), with Chi-Med, a majority owned subsidiary of CK Hutchison Holdings 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 the investment and advances to HHO of $1,109 are included on the Consolidated Balance Sheet in “Investments and joint ventures.” 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 2,037,400 and 2,299,000 of its YHS shares during the fiscal years ended June 30, 2015 and 2014 , respectively, which resulted in pre-tax gains of $311 and $1,511 , respectively, on the sales. The remaining shares held at June 30, 2015 totaled 1,035,338 . The fair value of these shares held was $1,196 (cost basis of $1,291 ) at June 30, 2015 and $5,314 (cost basis of $3,831 ) at June 30, 2014 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, 2015 | |
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, 2015 : Total Quoted prices in active markets (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Assets: Cash equivalents $ 45,101 $ 45,101 $ — $ — Forward foreign currency contracts 1,590 — 1,590 — Available for sale securities 1,196 1,196 — — $ 47,887 $ 46,297 $ 1,590 $ — Liabilities: Forward foreign currency contracts $ 274 $ — $ 274 $ — Contingent consideration, of which $3,789 is noncurrent 3,789 — — 3,789 Total $ 4,063 $ — $ 274 $ 3,789 The following table presents assets and liabilities measured at fair value on a recurring basis as of June 30, 2014 : Total Quoted prices in active markets (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) 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 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 Belvedere in February 2015, Cully & Sully in April 2012 and GG UniqueFiber AS in January 2011, payment of a portion of the respective purchase prices are contingent upon the achievement of certain operating results. The Company 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. The Company is required to reassess the fair value of contingent payments on a periodic basis. During the fiscal year ended June 30, 2015 , additional expense of $280 was recorded related to the Cully & Sully acquisition, and in October 2014, $5,477 was paid to the sellers in settlement of this obligation. The significant inputs used in the estimate of the remaining obligation for Belvedere and GG UniqueFiber 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 liability (weighted average discount rate of 8.0% for the outstanding liability as of June 30, 2015 ). Although the Company believes its estimates and 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, 2015 2014 Balance at beginning of year $ 8,280 $ 22,814 Fair value of initial contingent consideration 1,603 — Contingent consideration adjustments 280 (3,026 ) Contingent consideration paid (5,477 ) (11,800 ) Translation adjustment (897 ) 292 Balance at end of year $ 3,789 $ 8,280 There were no transfers of financial instruments between the three levels of fair value hierarchy during the fiscal years ended June 30, 2015 or 2014 . 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, 2015 were $47,202 and $1,316 of net assets. There were $69,431 of notional amount and $777 of net liabilities of foreign exchange derivative contracts outstanding at June 30, 2014 . 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 12 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, 2015 and 2014 , 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, 2015 and 2014 . |
Commitments And Contingencies
Commitments And Contingencies | 12 Months Ended |
Jun. 30, 2015 | |
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, 2015 , are as follows: Fiscal Year 2016 $ 15,695 2017 11,921 2018 10,630 2019 9,728 2020 7,440 Thereafter 43,437 $ 98,851 Rent expense charged to operations for the fiscal years ended June 30, 2015 , 2014 and 2013 was $27,028 , $20,567 and $16,449 , 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 sought an award for damages, injunctive relief, costs, expenses and attorney’s fees. In July 2015, the Company reached an agreement in principle with the plaintiffs to settle the class action for $7,500 in addition to the distribution of consumer coupons up to a value of $2,000 . In connection with the proposed settlement, the Company recorded a charge of $5,725 in the fourth quarter of fiscal 2015 (a separate charge of $1,975 was recorded in prior years). The Company is currently working with the plaintiffs to finalize the matter. Other On August 19, 2014, the Company announced a voluntary recall on certain nut butters. In connection with the voluntary recall, the Company recorded pre-tax costs totaling $34,256 for the fiscal year ended June 30, 2015 and previously recorded charges of $6,000 in fiscal 2014. For the fiscal year ended June 30, 2015 the charges recorded primarily relate to returns of product from customers ( $15,773 ) and inventory on-hand and other cost of goods sold charges ( $13,574 ), and to a lesser extent consumer refunds and other administrative costs ( $4,909 ). The U.S. Food and Drug Administration now considers this recall concluded and the Company does not anticipate any further material charges to be incurred. In addition to the contingencies 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, 2015 | |
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, 2015 , 2014 and 2013 , we made contributions to the Plan of $866 , $539 and $542 , 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, 2015 | |
Segment Reporting [Abstract] | |
Segment Information | SEGMENT INFORMATION The Company’s operations are managed in five operating segments: United States, United Kingdom, Hain Pure Protein, Canada and Europe. The United States, the United Kingdom and Hain Pure Protein 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 the Company’s Chief Operating Decision Maker (“CODM”) to evaluate segment operating performance and to decide how to allocate resources to segments. The 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 the 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, impairment and integration charges 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. Certain recall and factory start-up costs incurred in the United States and Europe segments that were included in “Corporate and other” in the prior year have been reclassified to their respective segments to conform to the current year presentation. 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, 2015 2014 2013 Net Sales: (1) United States $ 1,367,388 $ 1,282,175 $ 1,095,867 United Kingdom 735,996 637,454 420,408 Hain Pure Protein 358,582 — — Rest of World 226,549 233,982 218,408 $ 2,688,515 $ 2,153,611 $ 1,734,683 Operating Income: United States $ 199,901 $ 205,864 $ 177,352 United Kingdom 46,222 52,661 31,069 Hain Pure Protein 26,479 — — Rest of World 16,438 16,931 18,671 $ 289,040 $ 275,456 $ 227,092 Corporate and other (2) (51,295 ) (47,719 ) (52,780 ) $ 237,745 $ 227,737 $ 174,312 (1) One of our customers accounted for approximately 12% , 13% , and 15% of our consolidated net sales for the fiscal years ended June 30, 2015 , 2014 and 2013 , respectively, which were primarily related to the United States segment. A second customer accounted for approximately 10% , 11% and 10% of our consolidated net sales for the fiscal years ended June 30, 2015 , 2014 and 2013 , which were primarily related to the United States and United Kingdom segments. (2) Includes $8,471 , $10,076 and $16,634 of acquisition related expenses, restructuring and integration charges for the fiscal years ended June 30, 2015 , 2014 and 2013 , respectively. Corporate and other also includes expense of $280 for the fiscal year ended June 30, 2015 , a net reduction of expense of $3,616 for the fiscal year ended June 30, 2014 , and expense of $2,336 for the fiscal year ended June 30, 2013 , related to adjustments of the carrying value of contingent consideration. Additionally, a non-cash impairment charge of $5,510 for the fiscal year ended June 30, 2015 related to a United Kingdom indefinite-lived intangible asset is also included in Corporate and other. The Company’s sales by product category are as follows: Fiscal Year ended June 30, 2015 2014 2013 Grocery $ 1,765,540 $ 1,669,208 $ 1,286,377 Protein 358,582 — — Snacks 302,093 249,033 220,452 Tea 120,707 115,593 110,819 Personal Care 141,593 119,777 117,035 Total $ 2,688,515 $ 2,153,611 $ 1,734,683 The Company’s long-lived assets, which primarily represent net property, plant and equipment, by geographic area are as follows: June 30, June 30, United States $ 151,450 $ 139,919 Canada 11,386 9,694 United Kingdom 195,131 198,505 Europe 22,451 27,746 $ 380,418 $ 375,864 |
Subsequent Events (Notes)
Subsequent Events (Notes) | 12 Months Ended |
Jun. 30, 2015 | |
Subsequent Events [Abstract] | |
Subsequent Events [Text Block] | SUBSEQUENT EVENTS On July 24, 2015, the Company acquired Formatio Beratungs- und Beteiligungs GmbH and its subsidiaries (“Mona”), a leader in plant-based foods and beverages with facilities in Germany and Austria. Mona offers a wide range of organic and natural products under the Joya ® and Happy ® brands, including soy, oat, rice and nut based drinks as well as plant-based yogurts, desserts, creamers, tofu and private label products, sold to leading retailers in Europe, primarily in Austria and Germany and eastern European countries. Consideration in the transaction consisted of cash totaling €22,400 (approximately $24,562 at the transaction date exchange rate) and 240,207 shares of the Company’s common stock valued at $16,308 . Also included in the acquisition was the assumption of net debt totaling €15,951 . The cash portion of the purchase price was funded with borrowings under our Credit Agreement. Mona will be included in our Europe operating segment. |
Schedule II - Valuation and Qua
Schedule II - Valuation and Qualifying Accounts | 12 Months Ended |
Jun. 30, 2015 | |
Valuation and Qualifying Accounts Disclosure [Line Items] | |
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 beginning of period Charged to costs and expenses Charged to other accounts - describe (i) Deductions - describe (ii) Balance at end of period Fiscal Year Ended June 30, 2015: Allowance for doubtful accounts $ 1,586 $ 791 $ 20 $ (1,501 ) $ 896 Valuation allowance for deferred tax assets $ 9,830 $ 214 $ — $ (989 ) $ 9,055 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 (i) Represents the allowance for doubtful accounts of the business acquired during the fiscal year (ii) Amounts written off and changes in exchange rates |
Summary of Significant Accoun28
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Jun. 30, 2015 | |
Property, Plant and Equipment [Line Items] | |
Consolidation, Subsidiaries or Other Investments, Consolidated Entities, Policy [Policy Text Block] | Basis of Presentation The Company’s 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. On December 29, 2014, the Company effected a two-for-one stock split of its common stock in the form of a 100% stock dividend to shareholders of record as of December 12, 2014. All share and earnings per share information have been retroactively adjusted to reflect the stock split and the incremental par value of the newly issued shares was recorded with the offset to additional paid-in capital. |
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 The Company routinely performs credit evaluations on existing and new customers. The Company applies reserves for delinquent or uncollectible trade receivables based on a specific identification methodology and also applies an additional reserve based on the experience the Company has with its trade receivables aging categories. Credit losses have been within the Company’s expectations in recent years. While one of the Company’s customers represented approximately 9% and 10% of trade receivables balances as of June 30, 2015 and 2014 , respectively, and a second customer represented approximately 8% and 10% of trade receivable balances as of June 30, 2015 and 2014 , respectively, the Company believes there is no significant or unusual credit exposure at this time. Based on cash collection history and other statistical analysis, the Company estimates the amount of unauthorized deductions customers have taken to be repaid in the near future and record a chargeback receivable. The Company’s estimate of this receivable balance ( $6,049 at June 30, 2015 and $4,883 at June 30, 2014 ) could be different had the Company used different assumptions and judgments. During the fiscal years ended June 30, 2015 , 2014 and 2013 , sales to one customer and its affiliates approximated 12% , 13% and 15% of consolidated net sales, respectively. Sales to a second customer and its affiliates approximated 10% , 11% and 10% during the fiscal years ended June 30, 2015 , 2014 , and 2013 , respectively. |
Inventory, Policy [Policy Text Block] | Inventory Inventory is valued at the lower of cost or market, utilizing the first-in, first-out method. The Company provides 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 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. The Company believes the asset lives assigned to our property, plant and equipment are within ranges generally used in consumer products manufacturing and distribution businesses. The Company’s 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, the Company believes no impairment of the carrying value of such assets exists. Ordinary repairs and maintenance are expensed as incurred. The Company utilizes 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. |
Property, Plant and Equipment [Table Text Block] | The Company utilizes 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, Land $ 36,386 $ 34,021 Buildings and improvements 88,507 75,895 Machinery and equipment 359,183 329,680 Furniture and fixtures 10,272 10,352 Leasehold improvements 19,257 21,836 Construction in progress 11,444 4,850 525,049 476,634 Less: Accumulated depreciation and amortization 180,787 165,973 $ 344,262 $ 310,661 |
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] | 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 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. |
Selling, General and Administrative Expenses, Policy [Policy Text Block] | 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 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 $10,271 in fiscal 2015 , $10,049 in fiscal 2014 and $7,516 in fiscal 2013. The Company’s 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 the Company generates and on their own initiative with the expectation that the Company will accept their new product ideas and market them under the Company’s brands. These efforts by co-packers and suppliers have resulted in a substantial number of new product introductions. The Company is unable to estimate the amount of expenditures made by co-packers and suppliers on research and development; however, the Company believes such activities and expenditures are important to its 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 $20,868 in fiscal 2015 , $15,643 in fiscal 2014 and $14,030 in fiscal 2013. Such costs are expensed as incurred. |
Income Tax, Policy [Policy Text Block] | Income Taxes The Company follows 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. The Company recognizes liabilities for uncertain tax positions based on a two-step process prescribed by the authoritative guidance. The first step requires the Company to determine if the weight of available evidence indicates that the tax position has met the threshold for recognition; therefore, the Company 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 the Company 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. The Company reevaluates the uncertain tax positions each period 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. The Company records interest and penalties in the 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, 2015 and 2014 , the Company had $45,101 and $31,902 invested in money market securities, which are classified as cash equivalents. At June 30, 2015 and 2014 , the carrying values of financial instruments such as accounts receivable, accounts payable, accrued expenses and other current liabilities, as well as borrowings under our credit facility and other borrowings, 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. The fair value of restricted stock awards is equal to the market value of the Company’s common stock on the date of grant, or is estimated using a Monte Carlo simulation if the award contains a market condition. The fair value of stock based compensation awards is recognized in expense over the vesting period using the straight-line method. For awards that contain a market condition, expense is recognized over the derived service period using an accelerated recognition 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, estimated forfeiture rates that are derived from historical employee termination activity are applied 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 The Company periodically evaluates 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 April 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“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. Recently Issued Accounting Pronouncements Not Yet Effective In July 2015, the FASB issued ASU No. 2015-11, Inventory (Topic 330): Simplifying the Measurement of Inventory . ASU 2015-11 requires inventory measured using any method other than last-in, first out or the retail inventory method to be subsequently measured at the lower of cost or net realizable value, rather than at the lower of cost or market. ASU 2015-11 is effective for annual reporting periods beginning after December 15, 2016 and for interim periods within such annual period. Early application is permitted. The Company is currently evaluating the potential effects of adopting the provisions of ASU No. 2015-11. In April 2015, the FASB issued ASU No. 2015-03, Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs . The amendments in ASU No. 2015-03 require that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability. The recognition and measurement guidance for debt issuance costs are not affected by the amendments. ASU No. 2015-03 must be applied retrospectively and is effective for interim and annual periods beginning after December 15, 2015, with early adoption permitted. In August 2015, the FASB issued ASU No. 2015-15, Interest - Imputation of Interest (Subtopic 835-30): Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements . ASU No. 2015-15 states that for debt issuance costs related to line-of-credit arrangements, the SEC staff would not object to an entity deferring and presenting such costs as an asset and subsequently amortizing the deferred debt issuance costs ratably over the term of the line-of-credit arrangement, regardless of whether there are any outstanding borrowings on the line-of-credit arrangement. The adoption of the new guidance is not expected to materially impact the Company’s consolidated financial position or results of operations. The Company intends to early adopt this new guidance on July 1, 2015 (beginning of fiscal 2016). In June 2014, the FASB issued ASU No. 2014-12, Compensation - Stock Compensation (Topic 718): Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period . ASU No. 2014-12 requires that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. As such, the performance target should not be reflected in estimating the grant date fair value of the award. ASU No. 2014-12 is effective for annual periods beginning after December 15, 2015 and for interim periods within such annual period, with early adoption permitted. The Company is currently evaluating the potential effects of adopting the provisions of ASU No. 2014-12. 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 annual reporting periods beginning after December 15, 2017 and for interim periods within such annual period, with early application permitted for annual reporting periods beginning after December 15, 2016. 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 (Tables)
Earnings Per Share (Tables) | 12 Months Ended |
Jun. 30, 2015 | |
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, 2015 2014 2013 Numerator: Income from continuing operations $ 167,896 $ 141,480 $ 119,793 Discontinued operations — (1,629 ) (5,137 ) Net income $ 167,896 $ 139,851 $ 114,656 Denominator (in thousands): Denominator for basic earnings per share - weighted average shares outstanding during the period 101,703 97,750 92,352 Effect of dilutive stock options, unvested restricted stock and unvested restricted share units 1,718 2,256 2,792 Denominator for diluted earnings per share - adjusted weighted average shares and assumed conversions 103,421 100,006 95,144 Basic net income per common share: From continuing operations $ 1.65 $ 1.45 $ 1.30 From discontinued operations — (0.02 ) (0.06 ) Net income per common share - basic $ 1.65 $ 1.43 $ 1.24 Diluted net income per common share: From continuing operations $ 1.62 $ 1.42 $ 1.26 From discontinued operations — (0.02 ) (0.05 ) Net income per common share - diluted $ 1.62 $ 1.40 $ 1.21 Note: On December 29, 2014, the Company effected a two-for-one stock split of its common stock in the form of a 100% stock dividend to shareholders of record as of December 12, 2014. All share and per share information has been retroactively adjusted to reflect the stock split. |
Acquisitions and Disposals Acqu
Acquisitions and Disposals Acquisitions and Disposals (Tables) | 12 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
Business Acquisition [Line Items] | ||
Business Acquisition, Pro Forma Information [Table Text Block] | Fiscal Year ended June 30, 2015 2014 Net sales from continuing operations $ 2,797,368 $ 2,558,173 Net income from continuing operations $ 171,130 $ 148,215 Net income per common share from continuing operations - diluted $ 1.65 $ 1.48 | 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 $ 1.49 $ 1.41 |
FY'14 Acquisitions [Member] | ||
Business Acquisition [Line Items] | ||
Schedule of Business Acquisitions, by Acquisition [Table Text Block] | The following table summarizes the components of the purchase price allocations for the fiscal 2014 acquisitions: Tilda Rudi’s Total Purchase price: Cash paid $ 123,822 $ 50,807 $ 174,629 Equity issued 148,353 11,168 159,521 Vendor Loan Note 32,958 — 32,958 $ 305,133 $ 61,975 $ 367,108 Allocation: Current assets $ 86,828 $ 8,058 $ 94,886 Property, plant and equipment 39,806 3,774 43,580 Identifiable intangible assets 124,549 27,514 152,063 Assumed liabilities (93,742 ) (6,319 ) (100,061 ) Deferred income taxes (26,230 ) 1,932 (24,298 ) Goodwill 173,922 27,016 200,938 $ 305,133 $ 61,975 $ 367,108 | |
FY'15 Acquisitions [Member] | ||
Business Acquisition [Line Items] | ||
Schedule of Business Acquisitions, by Acquisition [Table Text Block] | The following table summarizes the components of the preliminary purchase price allocations for the fiscal 2015 acquisitions: HPPC Belvedere Empire Total Carrying value of pre-existing interest, after fair value adjustments: $ 36,074 $ — $ 9,786 $ 45,860 Purchase Price: Cash paid 20,310 13,988 57,595 91,893 Equity issued 19,690 — — 19,690 Fair value of contingent consideration — 1,603 — 1,603 Total investment: $ 76,074 $ 15,591 $ 67,381 $ 159,046 Allocation: Current assets $ 52,055 $ 10,042 $ 19,628 $ 81,725 Property, plant and equipment 21,864 2,598 13,094 37,556 Other assets 7,288 — — 7,288 Identifiable intangible assets 20,700 5,698 33,890 60,288 Deferred taxes 1,388 (3,890 ) (14,443 ) (16,945 ) Assumed liabilities (41,705 ) (1,784 ) (15,632 ) (59,121 ) Goodwill 14,484 2,927 30,844 48,255 $ 76,074 $ 15,591 $ 67,381 $ 159,046 |
Discontinued Operations Discont
Discontinued Operations Discontinued Operations (Tables) | 12 Months Ended |
Jun. 30, 2015 | |
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. There were no amounts recorded in discontinued operations for the fiscal year ended June 30, 2015. Fiscal Year ended June 30, 2014 2013 Net sales $ — $ 15,313 Operating loss $ — $ (1,176 ) Loss on sale of business, net of tax $ (1,629 ) $ (4,200 ) Loss from discontinued operations, net of tax $ (1,629 ) $ (5,137 ) |
Inventories (Tables)
Inventories (Tables) | 12 Months Ended |
Jun. 30, 2015 | |
Inventory, Net [Abstract] | |
Components Of Inventories | Inventories consisted of the following: June 30, June 30, Finished goods $ 240,004 $ 190,818 Raw materials, work-in-progress and packaging 142,207 129,433 $ 382,211 $ 320,251 |
Property, Plant And Equipment (
Property, Plant And Equipment (Tables) | 12 Months Ended |
Jun. 30, 2015 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment [Table Text Block] | The Company utilizes 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, Land $ 36,386 $ 34,021 Buildings and improvements 88,507 75,895 Machinery and equipment 359,183 329,680 Furniture and fixtures 10,272 10,352 Leasehold improvements 19,257 21,836 Construction in progress 11,444 4,850 525,049 476,634 Less: Accumulated depreciation and amortization 180,787 165,973 $ 344,262 $ 310,661 |
Goodwill And Other Intangible34
Goodwill And Other Intangible Assets (Tables) | 12 Months Ended |
Jun. 30, 2015 | |
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, 2015 and 2014 were as follows: United States United Kingdom Hain Pure Protein Rest of World Total 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 Acquisition activity 3,792 (1,395 ) 45,328 2,927 50,652 Translation and other adjustments, net (3,275 ) (36,257 ) — (9,409 ) (48,941 ) Balance as of June 30, 2015 (a) $ 607,843 $ 420,166 $ 45,328 $ 62,742 $ 1,136,079 (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, Non-amortized intangible assets: Trademarks and tradenames $ 507,853 $ 498,068 Amortized intangible assets: Other intangibles 207,609 206,071 Less: accumulated amortization (67,708 ) (52,657 ) Net carrying amount $ 647,754 $ 651,482 |
Finite-lived Intangible Assets Amortization Expense [Table Text Block] | Amortization expense included in continuing operations was as follows: Fiscal Year ended June 30, 2015 2014 2013 Amortization of intangible assets $ 17,985 $ 15,600 $ 12,398 |
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, 2016 2017 2018 2019 2020 Estimated amortization expense $ 17,017 $ 16,613 $ 16,522 $ 13,967 $ 13,592 |
Accrued Expenses and Other Cu35
Accrued Expenses and Other Current Liabilities (Tables) | 12 Months Ended |
Jun. 30, 2015 | |
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, Payroll, employee benefits and other administrative accruals $ 65,044 $ 54,171 Selling and marketing related accruals 10,938 11,310 Contingent consideration, current portion — 5,611 Other 3,185 13,814 $ 79,167 $ 84,906 |
Debt and Borrowings Debt and Bo
Debt and Borrowings Debt and Borrowings (Tables) | 12 Months Ended |
Jun. 30, 2015 | |
Debt Disclosure [Abstract] | |
Schedule of Long-term Debt Instruments [Table Text Block] | Debt and borrowings consisted of the following: June 30, June 30, Senior Notes $ 150,000 $ 150,000 Revolving Credit Agreement borrowings payable to banks 660,216 614,502 Tilda short-term borrowing arrangements 29,600 65,975 Vendor Loan Note (see note 4) — 34,056 Other borrowings 4,067 3,390 843,883 867,923 Short-term borrowings and current portion of long-term debt 31,275 100,096 $ 812,608 $ 767,827 |
Schedule of Maturities of Long-term Debt [Table Text Block] | Maturities of all debt instruments at June 30, 2015 , are as follows: Due in Fiscal Year Amount 2016 $ 31,275 2017 2,130 2018 197 2019 60 2020 810,221 $ 843,883 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Jun. 30, 2015 | |
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, 2015 2014 2013 Domestic $ 176,898 $ 157,492 $ 130,908 Foreign 38,392 50,102 22,914 Total $ 215,290 $ 207,594 $ 153,822 |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | The provision for income taxes is presented below. Fiscal Year ended June 30, 2015 2014 2013 Current: Federal $ 41,268 $ 46,722 $ 31,370 State and local 8,237 7,891 3,792 Foreign 9,981 16,836 6,565 59,486 71,449 41,727 Deferred: Federal (10,191 ) 2,287 (4,064 ) State and local (932 ) 372 (405 ) Foreign (480 ) (4,009 ) (2,934 ) (11,603 ) (1,350 ) (7,403 ) Total $ 47,883 $ 70,099 $ 34,324 |
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: 2015 % 2014 % 2013 % Expected U.S. federal income tax at statutory rate $ 75,352 35.0 % $ 72,659 35.0 % $ 53,838 35.0 % State income taxes, net of federal benefit 4,834 2.2 % 5,371 2.6 % 3,278 2.1 % Domestic manufacturing deduction (1,210 ) (0.6 )% (2,482 ) (1.2 )% (2,563 ) (1.7 )% Foreign income at different rates (9,105 ) (4.2 )% (4,842 ) (2.3 )% (4,950 ) (3.2 )% Corporate tax reorganization (20,670 ) (9.6 )% — — % — — % Non-taxable gains on acquisition of pre-existing ownership interests in HPPC and Empire (2,890 ) (1.3 )% — — % — — % 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 )% Other 1,572 0.7 % 3,132 1.5 % 195 0.1 % Provision for income taxes $ 47,883 22.2 % $ 70,099 33.8 % $ 34,324 22.3 % |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | 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, 2015 June 30, 2014 Current deferred tax assets: Basis difference on inventory $ 8,106 $ 5,995 Reserves not currently deductible 12,334 17,365 Other 318 420 Current deferred tax assets 20,758 23,780 Noncurrent deferred tax assets/(liabilities): Basis difference on intangible assets (155,049 ) (143,478 ) Basis difference on property and equipment (21,067 ) (17,782 ) Other comprehensive income (1,217 ) (7,969 ) Net operating loss and tax credit carryforwards 31,996 24,067 Stock based compensation 6,828 6,526 Other 2,267 27 Valuation allowances (9,055 ) (9,830 ) Noncurrent deferred tax liabilities, net (145,297 ) (148,439 ) Total net deferred tax liabilities $ (124,539 ) $ (124,659 ) |
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, 2015 2014 Balance at beginning of year $ 9,830 $ 10,456 Additions charged to income tax expense 214 2,226 Reductions credited to income tax expense — (760 ) Net change from liquidations, tax rate changes and other — (3,036 ) Currency translation adjustments (989 ) 944 Balance at end of year $ 9,055 $ 9,830 |
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, 2015 2014 2013 Balance at beginning of year $ 2,351 $ 2,507 $ 1,337 Additions based on tax positions related to the current year 722 750 574 Additions for acquired companies — — 941 Reductions due to lapse in statute of limitations and settlements (753 ) (906 ) (345 ) Balance at end of year $ 2,320 $ 2,351 $ 2,507 |
Stockholders' Equity (Tables)
Stockholders' Equity (Tables) | 12 Months Ended |
Jun. 30, 2015 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | The following tables present the changes in accumulated other comprehensive income (loss): Fiscal Year ended June 30, 2015 2014 Foreign currency translation adjustments: Other comprehensive income (loss) before reclassifications (1) $ (103,209 ) $ 90,625 Amounts reclassified into income — — Deferred gains/(losses) on cash flow hedging instruments: Other comprehensive income (loss) before reclassifications 5,449 (1,214 ) Amounts reclassified into income (2) (3,868 ) (190 ) Unrealized gain on available for sale investment: Other comprehensive income (loss) before reclassifications (595 ) (1,121 ) Amounts reclassified into income (3) (311 ) (721 ) Net change in accumulated other comprehensive income (loss) $ (102,534 ) $ 87,379 (1) Foreign currency translation adjustments include intra-entity foreign currency transactions that are of a long-term investment nature of $40,017 and $21,862 for fiscal years ended June 30, 2015 and 2014 , respectively. (2) Amounts reclassified into income for deferred gains on cash flow hedging instruments are recorded in “Cost of sales” in the Consolidated Statements of Income and, before taxes, were $5,087 and $284 for the fiscal years ended June 30, 2015 and 2014 , respectively. (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 Statements of Income. There was no tax expense associated with these gains reclassified into income as the Company utilized capital losses to offset these gains. |
Stock Based Compensation And 39
Stock Based Compensation And Incentive Performance Plans (Tables) | 12 Months Ended |
Jun. 30, 2015 | |
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, 2015 2014 2013 Compensation cost (included in selling, general and administrative expense) $ 12,197 $ 12,448 $ 13,010 Related income tax benefit $ 4,695 $ 4,787 $ 4,969 |
Summary Of Stock Option Activity | A summary of the stock option activity for the three fiscal years ended June 30, 2015 is as follows: 2015 Weighted Average Exercise Price 2014 Weighted Average Exercise Price 2013 Weighted Average Exercise Price Outstanding at beginning of year 2,674,290 $ 9.83 3,557,504 $ 9.44 5,160,866 $ 9.00 Exercised (1,425,378 ) $ 13.08 (882,614 ) $ 8.30 (1,590,562 ) $ 8.03 Canceled and expired — $ — (600 ) $ 8.01 (12,800 ) $ 7.44 Outstanding at end of year 1,248,912 $ 6.12 2,674,290 $ 9.83 3,557,504 $ 9.44 Options exercisable at end of year 1,248,912 $ 6.12 2,674,290 $ 9.83 3,470,854 $ 9.45 |
Schedule Of Cash Proceeds Received From Share-Based Payment Awards | Fiscal Year ended June 30, 2015 2014 2013 Intrinsic value of options exercised $ 62,213 $ 29,778 $ 39,562 Cash received from stock option exercises $ 18,643 $ 7,320 $ 12,763 Tax benefit recognized from stock option exercises $ 24,213 $ 11,584 $ 14,468 |
Non-Vested Restricted Stock And Restricted Share Unit Awards | A summary of the restricted stock and restricted share units activity for the three fiscal years ended June 30, 2015 is as follows: 2015 Weighted Average Grant Date Fair Value (per share) 2014 Weighted Average Grant Date Fair Value (per share) 2013 Weighted Average Grant Date Fair Value (per share) Non-vested restricted stock and restricted share units - beginning of year 1,258,744 $25.44 1,547,136 $21.22 974,818 $14.97 Granted 311,284 $54.11 224,792 $41.39 1,123,064 $22.80 Vested (401,936 ) $26.86 (476,290 ) $19.09 (531,638 ) $13.12 Forfeited (23,050 ) $40.65 (36,894 ) $28.72 (19,108 ) $19.37 Non-vested restricted stock and restricted share units - end of year 1,145,042 $32.30 1,258,744 $25.44 1,547,136 $21.22 |
Restricted Stock Grant Information | Fiscal Year ended June 30, 2015 2014 2013 Fair value of restricted stock and restricted share units granted $ 16,462 $ 9,303 $ 25,606 Fair value of shares vested $ 21,481 $ 19,905 $ 16,547 Tax benefit recognized from restricted shares vesting $ 8,364 $ 7,535 $ 6,253 |
Financial Instruments Measure40
Financial Instruments Measured At Fair Value (Tables) | 12 Months Ended |
Jun. 30, 2015 | |
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, 2015 : Total Quoted prices in active markets (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Assets: Cash equivalents $ 45,101 $ 45,101 $ — $ — Forward foreign currency contracts 1,590 — 1,590 — Available for sale securities 1,196 1,196 — — $ 47,887 $ 46,297 $ 1,590 $ — Liabilities: Forward foreign currency contracts $ 274 $ — $ 274 $ — Contingent consideration, of which $3,789 is noncurrent 3,789 — — 3,789 Total $ 4,063 $ — $ 274 $ 3,789 The following table presents assets and liabilities measured at fair value on a recurring basis as of June 30, 2014 : Total Quoted prices in active markets (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) 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 |
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, 2015 2014 Balance at beginning of year $ 8,280 $ 22,814 Fair value of initial contingent consideration 1,603 — Contingent consideration adjustments 280 (3,026 ) Contingent consideration paid (5,477 ) (11,800 ) Translation adjustment (897 ) 292 Balance at end of year $ 3,789 $ 8,280 |
Commitments And Contingencies C
Commitments And Contingencies Commitments And Contingencies (Tables) | 12 Months Ended |
Jun. 30, 2015 | |
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, 2015 , are as follows: Fiscal Year 2016 $ 15,695 2017 11,921 2018 10,630 2019 9,728 2020 7,440 Thereafter 43,437 $ 98,851 |
Segment Information (Tables)
Segment Information (Tables) | 12 Months Ended |
Jun. 30, 2015 | |
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, 2015 2014 2013 Net Sales: (1) United States $ 1,367,388 $ 1,282,175 $ 1,095,867 United Kingdom 735,996 637,454 420,408 Hain Pure Protein 358,582 — — Rest of World 226,549 233,982 218,408 $ 2,688,515 $ 2,153,611 $ 1,734,683 Operating Income: United States $ 199,901 $ 205,864 $ 177,352 United Kingdom 46,222 52,661 31,069 Hain Pure Protein 26,479 — — Rest of World 16,438 16,931 18,671 $ 289,040 $ 275,456 $ 227,092 Corporate and other (2) (51,295 ) (47,719 ) (52,780 ) $ 237,745 $ 227,737 $ 174,312 (1) One of our customers accounted for approximately 12% , 13% , and 15% of our consolidated net sales for the fiscal years ended June 30, 2015 , 2014 and 2013 , respectively, which were primarily related to the United States segment. A second customer accounted for approximately 10% , 11% and 10% of our consolidated net sales for the fiscal years ended June 30, 2015 , 2014 and 2013 , which were primarily related to the United States and United Kingdom segments. (2) Includes $8,471 , $10,076 and $16,634 of acquisition related expenses, restructuring and integration charges for the fiscal years ended June 30, 2015 , 2014 and 2013 , respectively. Corporate and other also includes expense of $280 for the fiscal year ended June 30, 2015 , a net reduction of expense of $3,616 for the fiscal year ended June 30, 2014 , and expense of $2,336 for the fiscal year ended June 30, 2013 , related to adjustments of the carrying value of contingent consideration. Additionally, a non-cash impairment charge of $5,510 for the fiscal year ended June 30, 2015 related to a United Kingdom indefinite-lived intangible asset is also included in Corporate and other. |
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, 2015 2014 2013 Grocery $ 1,765,540 $ 1,669,208 $ 1,286,377 Protein 358,582 — — Snacks 302,093 249,033 220,452 Tea 120,707 115,593 110,819 Personal Care 141,593 119,777 117,035 Total $ 2,688,515 $ 2,153,611 $ 1,734,683 |
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, United States $ 151,450 $ 139,919 Canada 11,386 9,694 United Kingdom 195,131 198,505 Europe 22,451 27,746 $ 380,418 $ 375,864 |
Summary of Significant Accoun43
Summary of Significant Accounting Policies PPE Useful Life (Details) | 12 Months Ended |
Jun. 30, 2015 | |
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 Accoun44
Summary of Significant Accounting Policies Narrative (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2013 | |
Concentration Risk [Line Items] | |||
Estimated ChargeBack Receivable | $ 6,049 | $ 4,883 | |
Research and Development Expense | 10,271 | 10,049 | $ 7,516 |
Advertising Expense | 20,868 | 15,643 | $ 14,030 |
Money Market Funds, at Carrying Value | $ 45,101 | $ 31,902 | |
Trade Receivables from One Customer [Member] | |||
Concentration Risk [Line Items] | |||
Concentration Risk, Percentage | 9.00% | 10.00% | |
Trade Receivables from Second Customer [Member] | |||
Concentration Risk [Line Items] | |||
Concentration Risk, Percentage | 8.00% | 10.00% | |
Sales to First Customer [Member] | |||
Concentration Risk [Line Items] | |||
Concentration Risk, Percentage | 12.00% | 13.00% | 15.00% |
Sales to Second Customer [Member] | |||
Concentration Risk [Line Items] | |||
Concentration Risk, Percentage | 10.00% | 11.00% | 10.00% |
Earnings Per Share (Computation
Earnings Per Share (Computation Of Basic And Diluted Earnings Per Share) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2013 | |
Earnings Per Share [Abstract] | |||
Income (Loss) from Continuing Operations Attributable to Parent | $ 167,896 | $ 141,480 | $ 119,793 |
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent | 0 | (1,629) | (5,137) |
Net Income (Loss) Attributable to Parent | $ 167,896 | $ 139,851 | $ 114,656 |
Denominator for basic earnings per share - weighted average shares outstanding during the period | 101,703 | 97,750 | 92,352 |
Effect of dilutive stock options and unvested restricted stock | 1,718 | 2,256 | 2,792 |
Diluted | 103,421 | 100,006 | 95,144 |
Income from Continuing Operations, Per Basic Share | $ 1.65 | $ 1.45 | $ 1.30 |
Income (Loss) from Discontinued Operations, Net of Tax, Per Basic Share | 0 | (0.02) | (0.06) |
Earnings Per Share, Basic | 1.65 | 1.43 | 1.24 |
Income from Continuing Operations, Per Diluted Share | 1.62 | 1.42 | 1.26 |
Income (Loss) from Discontinued Operations, Net of Tax, Per Diluted Share | 0 | (0.02) | (0.05) |
Earnings Per Share, Diluted | $ 1.62 | $ 1.40 | $ 1.21 |
Earnings Per Share (Narrative)
Earnings Per Share (Narrative) (Details) - shares | 12 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2013 | |
Earnings Per Share [Abstract] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 106,800 | 135,905 | 300,000 |
Acquisitions and Disposals (Fis
Acquisitions and Disposals (Fiscal 2015) (Narrative) (Details) $ / shares in Units, CAD in Thousands, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||
Mar. 31, 2015USD ($) | Mar. 31, 2015CAD | Sep. 30, 2014USD ($) | Jun. 30, 2015USD ($)$ / shares | Jun. 30, 2014USD ($)$ / shares | Jun. 30, 2013USD ($) | Mar. 04, 2015USD ($) | Feb. 20, 2015USD ($) | Jul. 17, 2014 | |
Business Acquisition [Line Items] | |||||||||
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned | $ 19,690 | $ 159,521 | $ 102,636 | ||||||
Discontinued Operation, Gain (Loss) from Disposal of Discontinued Operation, before Income Tax | (3,616) | ||||||||
Business Combination, Acquisition Related Costs | 5,731 | 7,238 | 5,461 | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 14,621 | 41,976 | |||||||
Business Acquisition, Cost of Acquired Entity, Cash Paid | 91,893 | ||||||||
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures | 2,305 | 36,511 | |||||||
Payments to Acquire Businesses, Net of Cash Acquired | 104,633 | 177,290 | 350,426 | ||||||
Gain (Loss) on Disposition of Stock in Subsidiary or Equity Method Investee | 8,256 | 0 | $ 0 | ||||||
FY'15 Acquisitions [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Business Acquisition, Pro Forma Revenue | 2,797,368 | 2,558,173 | |||||||
Business Acquisition, Pro Forma Income (Loss) from Continuing Operations before Changes in Accounting and Extraordinary Items, Net of Tax | $ 171,130 | $ 148,215 | |||||||
Business Acquisition, Pro Forma Income (Loss) from Continuing Operations before Changes in Accounting and Extraordinary Items, Net of Tax, Per Share, Diluted | $ / shares | $ 1.65 | $ 1.48 | |||||||
Hain Pure Protein [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Equity Method Investment, Ownership Percentage | 48.70% | ||||||||
Business Acquisition, Cost of Acquired Entity, Cash Paid | $ 20,310 | ||||||||
Business Acquisition, Percentage of Voting Interests Acquired | 51.30% | ||||||||
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures | $ 30,740 | ||||||||
Gain (Loss) on Disposition of Stock in Subsidiary or Equity Method Investee | $ 5,334 | ||||||||
Belvedere [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned | $ 0 | ||||||||
Business Acquisition, Cost of Acquired Entity, Cash Paid | $ 13,988 | CAD 17,454 | |||||||
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High | $ 4,000 | ||||||||
Empire Kosher [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned | $ 0 | ||||||||
Business Acquisition, Percentage of Voting Interests Acquired | 81.00% | 19.00% | |||||||
Noncontrolling Interest in Joint Ventures | $ 6,864 | ||||||||
Payments to Acquire Businesses, Net of Cash Acquired | 57,595 | ||||||||
Gain (Loss) on Disposition of Stock in Subsidiary or Equity Method Investee | $ 2,922 | ||||||||
Customer Relationships [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 10 years 9 months | 13 years 2 months | 15 years 7 months | ||||||
Trade Names [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Indefinite-lived Intangible Assets Acquired | $ 45,667 | $ 110,087 | $ 139,337 |
Acquisitions and Disposals Ac48
Acquisitions and Disposals Acquisitions and Disposals (Fiscal 2014) (Narrative) (Details) - Disposal Groups, Including Discontinued Operations, Name [Domain] $ / shares in Units, £ in Thousands, CAD in Thousands, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||||
Mar. 31, 2015GBP (£)shares | Mar. 31, 2015USD ($)shares | Mar. 31, 2015CADshares | Sep. 30, 2014USD ($) | Jun. 30, 2014GBP (£)shares | Jun. 30, 2014USD ($)shares | Mar. 31, 2014GBP (£)shares | Mar. 31, 2014USD ($)shares | Jun. 30, 2015USD ($)$ / sharesshares | Jun. 30, 2014USD ($)$ / sharesshares | Jun. 30, 2013USD ($)$ / sharesshares | Mar. 04, 2015USD ($) | Feb. 20, 2015USD ($) | Jul. 17, 2014USD ($) | Apr. 28, 2014USD ($) | Jan. 13, 2014USD ($) | ||
Business Acquisition [Line Items] | |||||||||||||||||
Business Combination, Acquisition Related Costs | $ 5,731 | $ 7,238 | $ 5,461 | ||||||||||||||
Goodwill | [1] | $ 1,134,368 | 1,136,079 | 1,134,368 | 876,106 | ||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 41,976 | 14,621 | 41,976 | ||||||||||||||
Payments to Acquire Businesses, Net of Cash Acquired | $ 104,633 | $ 177,290 | $ 350,426 | ||||||||||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | shares | 462,856 | 3,559,834 | 3,396,944 | ||||||||||||||
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned | 159,521 | $ 19,690 | $ 159,521 | $ 102,636 | |||||||||||||
Business Combination, Contingent Consideration, Liability | 32,958 | 1,603 | 32,958 | 13,491 | |||||||||||||
Business Acquisition, Cost of Acquired Entity, Cash Paid | 91,893 | ||||||||||||||||
Discontinued Operation, Gain (Loss) from Disposal of Discontinued Operation, before Income Tax | (3,616) | ||||||||||||||||
Investments and joint ventures | $ 36,511 | 2,305 | 36,511 | ||||||||||||||
Business Combination, Step Acquisition, Equity Interest in Acquiree, Fair Value | 45,860 | ||||||||||||||||
Gain (Loss) on Disposition of Stock in Subsidiary or Equity Method Investee | 8,256 | 0 | 0 | ||||||||||||||
Foreign Currency Transaction Gain (Loss), before Tax | 3,397 | ||||||||||||||||
FY'14 Acquisitions [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Business Acquisition, Pro Forma Revenue | 2,310,540 | 1,970,371 | |||||||||||||||
Payments to Acquire Businesses, Net of Cash Acquired | 174,629 | ||||||||||||||||
Business Acquisition, Pro Forma Income (Loss) from Continuing Operations before Changes in Accounting and Extraordinary Items, Net of Tax | $ 151,534 | $ 139,085 | |||||||||||||||
Business Acquisition, Pro Forma Income (Loss) from Continuing Operations before Changes in Accounting and Extraordinary Items, Net of Tax, Per Share, Diluted | $ / shares | $ 1.49 | $ 1.41 | |||||||||||||||
FY'15 Acquisitions [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Goodwill | 48,255 | ||||||||||||||||
Business Acquisition, Pro Forma Revenue | 2,797,368 | $ 2,558,173 | |||||||||||||||
Business Acquisition, Pro Forma Income (Loss) from Continuing Operations before Changes in Accounting and Extraordinary Items, Net of Tax | $ 171,130 | $ 148,215 | |||||||||||||||
Business Acquisition, Pro Forma Income (Loss) from Continuing Operations before Changes in Accounting and Extraordinary Items, Net of Tax, Per Share, Diluted | $ / shares | $ 1.65 | $ 1.48 | |||||||||||||||
Empire Kosher [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Goodwill | $ 30,844 | ||||||||||||||||
Business Acquisition, Percentage of Voting Interests Acquired | 81.00% | 19.00% | |||||||||||||||
Payments to Acquire Businesses, Net of Cash Acquired | $ 57,595 | ||||||||||||||||
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned | $ 0 | ||||||||||||||||
Business Combination, Contingent Consideration, Liability | $ 0 | ||||||||||||||||
Business Combination, Step Acquisition, Equity Interest in Acquiree, Fair Value | 9,786 | ||||||||||||||||
Gain (Loss) on Disposition of Stock in Subsidiary or Equity Method Investee | 2,922 | ||||||||||||||||
Hain Pure Protein [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Goodwill | $ 14,484 | ||||||||||||||||
Business Acquisition, Percentage of Voting Interests Acquired | 51.30% | ||||||||||||||||
Equity Method Investment, Ownership Percentage | 48.70% | 48.70% | |||||||||||||||
Business Combination, Contingent Consideration, Liability | $ 0 | ||||||||||||||||
Business Acquisition, Cost of Acquired Entity, Cash Paid | $ 20,310 | ||||||||||||||||
Investments and joint ventures | $ 30,740 | $ 30,740 | |||||||||||||||
Business Combination, Step Acquisition, Equity Interest in Acquiree, Fair Value | 36,074 | ||||||||||||||||
Gain (Loss) on Disposition of Stock in Subsidiary or Equity Method Investee | $ 5,334 | ||||||||||||||||
Belvedere [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Goodwill | $ 2,927 | ||||||||||||||||
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned | 0 | ||||||||||||||||
Business Combination, Contingent Consideration, Liability | $ 1,603 | ||||||||||||||||
Business Acquisition, Cost of Acquired Entity, Cash Paid | 13,988 | CAD 17,454 | |||||||||||||||
Business Combination, Step Acquisition, Equity Interest in Acquiree, Fair Value | $ 0 | ||||||||||||||||
Rudis [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Goodwill | $ 27,016 | ||||||||||||||||
Payments to Acquire Businesses, Net of Cash Acquired | £ | £ 50,807 | ||||||||||||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | shares | 267,488 | 267,488 | |||||||||||||||
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned | $ 11,168 | ||||||||||||||||
Other Payments to Acquire Businesses | $ 0 | ||||||||||||||||
Tilda [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Goodwill | $ 173,922 | ||||||||||||||||
Payments to Acquire Businesses, Net of Cash Acquired | £ | £ 123,822 | ||||||||||||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | shares | 266,984 | 266,984 | 266,984 | 3,292,346 | 3,292,346 | ||||||||||||
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned | $ 148,353 | ||||||||||||||||
Other Payments to Acquire Businesses | £ 10,000 | $ 15,114 | £ 20,000 | $ 32,958 | |||||||||||||
Customer Relationships [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 10 years 9 months | 13 years 2 months | 15 years 7 months | ||||||||||||||
Trade Names [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Indefinite-lived Intangible Assets Acquired | $ 45,667 | $ 110,087 | $ 139,337 | ||||||||||||||
[1] | The total carrying value of goodwill for all periods in the table above is reflected net of $42,029 of accumulated impairment charges recorded during fiscal 2009 which relate to the Company’s United Kingdom and Europe operating segments. |
Acquisitions and Disposals (F49
Acquisitions and Disposals (Fiscal 2013) (Narrative) (Details) £ in Thousands | 12 Months Ended | |||||||
Jun. 30, 2015USD ($)shares | Jun. 30, 2014USD ($)shares | Jun. 30, 2013GBP (£)shares | Jun. 30, 2013USD ($)shares | May. 02, 2013USD ($) | Dec. 21, 2012USD ($) | Oct. 27, 2012USD ($) | ||
Business Acquisition [Line Items] | ||||||||
Payments to Acquire Businesses, Net of Cash Acquired | $ 104,633,000 | $ 177,290,000 | $ 350,426,000 | |||||
Business Combination, Acquisition Related Costs | 5,731,000 | 7,238,000 | 5,461,000 | |||||
Business Combination, Consideration Transferred | 159,046,000 | 367,108,000 | 464,489,000 | |||||
Business Combination, Contingent Consideration, Liability | 1,603,000 | 32,958,000 | 13,491,000 | |||||
Goodwill | [1] | 1,136,079,000 | 1,134,368,000 | 876,106,000 | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities Noncurrent | (16,945,000) | (24,298,000) | (8,907,000) | |||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities | (59,121,000) | (100,061,000) | (19,946,000) | |||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill | 60,288,000 | 152,063,000 | 186,669,000 | |||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | 37,556,000 | 43,580,000 | 42,995,000 | |||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets | 81,725,000 | $ 94,886,000 | $ 60,316,000 | |||||
Business Acquisition, Cost of Acquired Entity, Cash Paid | $ 91,893,000 | |||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | shares | 462,856 | 3,559,834 | 3,396,944 | 3,396,944 | ||||
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned | $ 19,690,000 | $ 159,521,000 | $ 102,636,000 | |||||
Proceeds from Divestiture of Businesses, Net of Cash Divested | £ 9,641 | 15,132,000 | ||||||
Discontinued Operation, Gain (Loss) from Disposal of Discontinued Operation, before Income Tax | (3,616,000) | |||||||
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax | (1,629,000) | (4,200,000) | ||||||
Ella's Kitchen [Member] | ||||||||
Business Acquisition [Line Items] | ||||||||
Payments to Acquire Businesses, Net of Cash Acquired | £ 37,571 | 58,437,000 | ||||||
Business Combination, Consideration Transferred | $ 103,487,000 | |||||||
Business Combination, Contingent Consideration, Liability | $ 0 | |||||||
Goodwill | 52,250,000 | |||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities Noncurrent | (11,789,000) | |||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities | (15,064,000) | |||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill | 49,669,000 | |||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | 672,000 | |||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets | 27,749,000 | |||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | shares | 1,375,558 | 1,375,558 | ||||||
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned | $ 45,050,000 | |||||||
BluePrint [Member] | ||||||||
Business Acquisition [Line Items] | ||||||||
Business Combination, Consideration Transferred | $ 39,695,000 | |||||||
Business Combination, Contingent Consideration, Liability | 11,800 | $ 13,491,000 | ||||||
Goodwill | 16,989,000 | |||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities Noncurrent | 0 | |||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities | (2,189,000) | |||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill | 18,980,000 | |||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | 3,173,000 | |||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets | 2,742,000 | |||||||
Business Acquisition, Cost of Acquired Entity, Cash Paid | $ 16,679,000 | |||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | shares | 348,534 | 348,534 | ||||||
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned | $ 9,525,000 | |||||||
Fruit Business [Member] | ||||||||
Business Acquisition [Line Items] | ||||||||
Business Acquisition, Cost of Acquired Entity, Cash Paid | £ 1,000 | $ 1,600,000 | ||||||
UK Ambient Grocery Brands [Member] | ||||||||
Business Acquisition [Line Items] | ||||||||
Business Combination, Consideration Transferred | 321,307,000 | |||||||
Business Combination, Contingent Consideration, Liability | $ 0 | |||||||
Goodwill | 134,123,000 | |||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities Noncurrent | 2,882,000 | |||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities | (2,693,000) | |||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill | 118,020,000 | |||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | 39,150,000 | |||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets | 29,825,000 | |||||||
Business Acquisition, Cost of Acquired Entity, Cash Paid | £ 169,708 | $ 273,246,000 | ||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | shares | 1,672,852 | 1,672,852 | ||||||
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned | $ 48,061,000 | |||||||
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual | $ 161,784,000 | |||||||
Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual | $ 19,873,000 | |||||||
CRM business [Member] | ||||||||
Business Acquisition [Line Items] | ||||||||
Discontinued Operation, Gain (Loss) from Disposal of Discontinued Operation, before Income Tax | $ 1,148,000 | |||||||
[1] | The total carrying value of goodwill for all periods in the table above is reflected net of $42,029 of accumulated impairment charges recorded during fiscal 2009 which relate to the Company’s United Kingdom and Europe operating segments. |
Acquisitions and Disposals (Com
Acquisitions and Disposals (Components Of Preliminary Purchase Price Allocations) (Details) £ in Thousands, CAD in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||||||||
Mar. 31, 2015GBP (£) | Mar. 31, 2015USD ($) | Mar. 31, 2015CAD | Sep. 30, 2014USD ($) | Jun. 30, 2014GBP (£) | Jun. 30, 2014USD ($) | Mar. 31, 2014GBP (£) | Mar. 31, 2014USD ($) | Jun. 30, 2015USD ($) | Jun. 30, 2014USD ($) | Jun. 30, 2013GBP (£) | Jun. 30, 2013USD ($) | Mar. 04, 2015USD ($) | Feb. 20, 2015USD ($) | Jul. 17, 2014USD ($) | Apr. 28, 2014USD ($) | Jan. 13, 2014USD ($) | May. 02, 2013USD ($) | Dec. 21, 2012USD ($) | Oct. 27, 2012USD ($) | ||
Business Acquisition [Line Items] | |||||||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | $ 41,976,000 | $ 14,621,000 | $ 41,976,000 | ||||||||||||||||||
Business Combination, Step Acquisition, Equity Interest in Acquiree, Fair Value | 45,860,000 | ||||||||||||||||||||
Business Combination, Consideration Transferred | 159,046,000 | 367,108,000 | $ 464,489,000 | ||||||||||||||||||
Business Combination, Contingent Consideration, Liability | 32,958,000 | 1,603,000 | 32,958,000 | 13,491,000 | |||||||||||||||||
Goodwill | [1] | 1,134,368,000 | 1,136,079,000 | 1,134,368,000 | 876,106,000 | ||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities Noncurrent | 24,298,000 | 16,945,000 | 24,298,000 | 8,907,000 | |||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities | 100,061,000 | 59,121,000 | 100,061,000 | 19,946,000 | |||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill | 152,063,000 | 60,288,000 | 152,063,000 | 186,669,000 | |||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | 43,580,000 | 37,556,000 | 43,580,000 | 42,995,000 | |||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets | 94,886,000 | 81,725,000 | 94,886,000 | 60,316,000 | |||||||||||||||||
Business Acquisition, Cost of Acquired Entity, Cash Paid | 91,893,000 | ||||||||||||||||||||
Payments to Acquire Businesses, Net of Cash Acquired | 104,633,000 | 177,290,000 | 350,426,000 | ||||||||||||||||||
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned | 159,521,000 | 19,690,000 | 159,521,000 | 102,636,000 | |||||||||||||||||
Total purchase price allocation | 367,108,000 | 367,108,000 | 464,489,000 | ||||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Assets | 7,288,000 | ||||||||||||||||||||
UK Ambient Grocery Brands [Member] | |||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||
Business Combination, Consideration Transferred | 321,307,000 | ||||||||||||||||||||
Business Combination, Contingent Consideration, Liability | $ 0 | ||||||||||||||||||||
Goodwill | 134,123,000 | ||||||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities Noncurrent | (2,882,000) | ||||||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities | 2,693,000 | ||||||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill | 118,020,000 | ||||||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | 39,150,000 | ||||||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets | 29,825,000 | ||||||||||||||||||||
Business Acquisition, Cost of Acquired Entity, Cash Paid | £ 169,708 | 273,246,000 | |||||||||||||||||||
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned | 48,061,000 | ||||||||||||||||||||
Total purchase price allocation | $ 321,307,000 | ||||||||||||||||||||
Tilda [Member] | |||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||
Business Combination, Consideration Transferred | $ 305,133,000 | ||||||||||||||||||||
Goodwill | 173,922,000 | ||||||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities Noncurrent | 26,230,000 | ||||||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities | 93,742,000 | ||||||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill | 124,549,000 | ||||||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | 39,806,000 | ||||||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets | 86,828,000 | ||||||||||||||||||||
Payments to Acquire Businesses, Net of Cash Acquired | £ | £ 123,822 | ||||||||||||||||||||
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned | $ 148,353,000 | ||||||||||||||||||||
Other Payments to Acquire Businesses | £ 10,000 | $ 15,114,000 | £ 20,000 | $ 32,958,000 | |||||||||||||||||
Rudis [Member] | |||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||
Business Combination, Consideration Transferred | 61,975,000 | ||||||||||||||||||||
Goodwill | $ 27,016,000 | ||||||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities Noncurrent | (1,932,000) | ||||||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities | 6,319,000 | ||||||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill | 27,514,000 | ||||||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | 3,774,000 | ||||||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets | 8,058,000 | ||||||||||||||||||||
Payments to Acquire Businesses, Net of Cash Acquired | £ | £ 50,807 | ||||||||||||||||||||
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned | $ 11,168,000 | ||||||||||||||||||||
Other Payments to Acquire Businesses | 0 | ||||||||||||||||||||
FY'14 Acquisitions [Member] | |||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||
Payments to Acquire Businesses, Net of Cash Acquired | 174,629,000 | ||||||||||||||||||||
2014 Acquisition [Member] | |||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||
Goodwill | $ 200,938,000 | $ 200,938,000 | |||||||||||||||||||
Hain Pure Protein [Member] | |||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||
Business Acquisition, Percentage of Voting Interests Acquired | 51.30% | ||||||||||||||||||||
Business Combination, Step Acquisition, Equity Interest in Acquiree, Fair Value | $ 36,074,000 | ||||||||||||||||||||
Business Combination, Consideration Transferred | 76,074,000 | ||||||||||||||||||||
Business Combination, Contingent Consideration, Liability | $ 0 | ||||||||||||||||||||
Goodwill | 14,484,000 | ||||||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities Noncurrent | 1,388,000 | ||||||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities | (41,705,000) | ||||||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill | 20,700,000 | ||||||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | 21,864,000 | ||||||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets | 52,055,000 | ||||||||||||||||||||
Business Acquisition, Cost of Acquired Entity, Cash Paid | $ 20,310,000 | ||||||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Assets | $ 7,288,000 | ||||||||||||||||||||
Empire Kosher [Member] | |||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||
Business Acquisition, Percentage of Voting Interests Acquired | 81.00% | 19.00% | |||||||||||||||||||
Business Combination, Step Acquisition, Equity Interest in Acquiree, Fair Value | 9,786,000 | ||||||||||||||||||||
Business Combination, Consideration Transferred | 67,381,000 | ||||||||||||||||||||
Business Combination, Contingent Consideration, Liability | $ 0 | ||||||||||||||||||||
Goodwill | 30,844,000 | ||||||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities Noncurrent | (14,443,000) | ||||||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities | (15,632,000) | ||||||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill | 33,890,000 | ||||||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | 13,094,000 | ||||||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets | 19,628,000 | ||||||||||||||||||||
Payments to Acquire Businesses, Net of Cash Acquired | 57,595,000 | ||||||||||||||||||||
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned | 0 | ||||||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Assets | $ 0 | ||||||||||||||||||||
FY'15 Acquisitions [Member] | |||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||
Goodwill | $ 48,255,000 | ||||||||||||||||||||
Belvedere [Member] | |||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||
Business Combination, Step Acquisition, Equity Interest in Acquiree, Fair Value | 0 | ||||||||||||||||||||
Business Combination, Consideration Transferred | 15,591,000 | ||||||||||||||||||||
Business Combination, Contingent Consideration, Liability | $ 1,603,000 | ||||||||||||||||||||
Goodwill | 2,927,000 | ||||||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities Noncurrent | (3,890,000) | ||||||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities | (1,784,000) | ||||||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill | 5,698,000 | ||||||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | 2,598,000 | ||||||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets | 10,042,000 | ||||||||||||||||||||
Business Acquisition, Cost of Acquired Entity, Cash Paid | $ 13,988,000 | CAD 17,454 | |||||||||||||||||||
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned | 0 | ||||||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Assets | $ 0 | ||||||||||||||||||||
BluePrint [Member] | |||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||
Business Combination, Consideration Transferred | 39,695,000 | ||||||||||||||||||||
Business Combination, Contingent Consideration, Liability | 11,800 | $ 13,491,000 | |||||||||||||||||||
Goodwill | 16,989,000 | ||||||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities Noncurrent | 0 | ||||||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities | 2,189,000 | ||||||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill | 18,980,000 | ||||||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | 3,173,000 | ||||||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets | 2,742,000 | ||||||||||||||||||||
Business Acquisition, Cost of Acquired Entity, Cash Paid | 16,679,000 | ||||||||||||||||||||
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned | 9,525,000 | ||||||||||||||||||||
Total purchase price allocation | $ 39,695,000 | ||||||||||||||||||||
Ella's Kitchen [Member] | |||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||
Business Combination, Consideration Transferred | 103,487,000 | ||||||||||||||||||||
Business Combination, Contingent Consideration, Liability | $ 0 | ||||||||||||||||||||
Goodwill | 52,250,000 | ||||||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities Noncurrent | 11,789,000 | ||||||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities | 15,064,000 | ||||||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill | 49,669,000 | ||||||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | 672,000 | ||||||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets | 27,749,000 | ||||||||||||||||||||
Payments to Acquire Businesses, Net of Cash Acquired | £ 37,571 | 58,437,000 | |||||||||||||||||||
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned | 45,050,000 | ||||||||||||||||||||
Total purchase price allocation | $ 103,487,000 | ||||||||||||||||||||
Fiscal 2013 Acquisitions [Member] | |||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||
Goodwill | 203,362,000 | ||||||||||||||||||||
Payments to Acquire Businesses, Net of Cash Acquired | 348,362,000 | ||||||||||||||||||||
Customer Relationships [Member] | |||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||
Finite-lived Intangible Assets Acquired | $ 46,232,000 | ||||||||||||||||||||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 10 years 9 months | 13 years 2 months | 15 years 7 months | 15 years 7 months | |||||||||||||||||
Trade Names [Member] | |||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||
Indefinite-lived Intangible Assets Acquired | $ 45,667,000 | $ 110,087,000 | $ 139,337,000 | ||||||||||||||||||
Noncompete Agreements [Member] | |||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||
Finite-lived Intangible Assets Acquired | $ 1,100,000 | ||||||||||||||||||||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 3 years | 3 years | |||||||||||||||||||
[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 Ac51
Acquisitions and Disposals Acquisitions and Disposals (Acquisition Related Costs) (Details) £ in Thousands, $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||||
Mar. 31, 2015GBP (£) | Mar. 31, 2015USD ($) | Jun. 30, 2014GBP (£) | Jun. 30, 2014USD ($) | Mar. 31, 2014GBP (£) | Mar. 31, 2014USD ($) | Jun. 30, 2015USD ($) | Jun. 30, 2014USD ($) | Jun. 30, 2013USD ($) | Apr. 28, 2014USD ($) | Jan. 13, 2014USD ($) | ||
Business Acquisition [Line Items] | ||||||||||||
Payments to Acquire Businesses, Net of Cash Acquired | $ 104,633 | $ 177,290 | $ 350,426 | |||||||||
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned | $ 159,521 | 19,690 | 159,521 | 102,636 | ||||||||
Business Combination, Contingent Consideration, Liability | 32,958 | 1,603 | 32,958 | 13,491 | ||||||||
Business Combination, Consideration Transferred | 159,046 | 367,108 | 464,489 | |||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets | 94,886 | 81,725 | 94,886 | 60,316 | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | 43,580 | 37,556 | 43,580 | 42,995 | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill | 152,063 | 60,288 | 152,063 | 186,669 | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities | (100,061) | (59,121) | (100,061) | (19,946) | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities Noncurrent | (24,298) | (16,945) | (24,298) | (8,907) | ||||||||
Goodwill | [1] | 1,134,368 | 1,136,079 | 1,134,368 | 876,106 | |||||||
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net | 367,108 | 367,108 | 464,489 | |||||||||
Payments to Acquire Businesses, Gross | 91,893 | |||||||||||
Business Combination, Acquisition Related Costs | $ 5,731 | 7,238 | $ 5,461 | |||||||||
Tilda [Member] | ||||||||||||
Business Acquisition [Line Items] | ||||||||||||
Payments to Acquire Businesses, Net of Cash Acquired | £ | £ 123,822 | |||||||||||
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned | $ 148,353 | |||||||||||
Business Combination, Consideration Transferred | $ 305,133 | |||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets | 86,828 | |||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | 39,806 | |||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill | 124,549 | |||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities | (93,742) | |||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities Noncurrent | (26,230) | |||||||||||
Goodwill | 173,922 | |||||||||||
Other Payments to Acquire Businesses | £ 10,000 | $ 15,114 | £ 20,000 | $ 32,958 | ||||||||
Rudis [Member] | ||||||||||||
Business Acquisition [Line Items] | ||||||||||||
Payments to Acquire Businesses, Net of Cash Acquired | £ | £ 50,807 | |||||||||||
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned | $ 11,168 | |||||||||||
Business Combination, Consideration Transferred | 61,975 | |||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets | 8,058 | |||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | 3,774 | |||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill | 27,514 | |||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities | (6,319) | |||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities Noncurrent | 1,932 | |||||||||||
Goodwill | $ 27,016 | |||||||||||
Other Payments to Acquire Businesses | 0 | |||||||||||
2014 Acquisition [Member] | ||||||||||||
Business Acquisition [Line Items] | ||||||||||||
Goodwill | $ 200,938 | $ 200,938 | ||||||||||
[1] | The total carrying value of goodwill for all periods in the table above is reflected net of $42,029 of accumulated impairment charges recorded during fiscal 2009 which relate to the Company’s United Kingdom and Europe operating segments. |
Discontinued Operations Disco52
Discontinued Operations Discontinued Operations (Summary of Operating Results) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2013 | |
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) | |
Discontinued Operation, Gain (Loss) from Disposal of Discontinued Operation, before Income Tax | (3,616) | ||
Net sales | 0 | 15,313 | |
Operating loss | 0 | (1,176) | |
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent | $ 0 | (1,629) | $ (5,137) |
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 |
Inventories (Components Of Inve
Inventories (Components Of Inventories) (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Jun. 30, 2014 |
Inventory, Net [Abstract] | ||
Finished Goods | $ 240,004 | $ 190,818 |
Raw materials, work-in-progress and packaging | 142,207 | 129,433 |
Total inventories | $ 382,211 | $ 320,251 |
Property, Plant And Equipment54
Property, Plant And Equipment (Components Of Property, Plant And Equipment) (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Jun. 30, 2014 |
Land | $ 36,386 | $ 34,021 |
Buildings and improvements | 88,507 | 75,895 |
Machinery and equipment | 359,183 | 329,680 |
Furniture and fixtures | 10,272 | 10,352 |
Leasehold improvements | 19,257 | 21,836 |
Construction in progress | 11,444 | 4,850 |
Property, plant and equipment, gross | 525,049 | 476,634 |
Less: Accumulated depreciation and amortization | 180,787 | 165,973 |
Property, plant and equipment, net | $ 344,262 | $ 310,661 |
Goodwill And Other Intangible55
Goodwill And Other Intangible Assets (Changes In Carrying Amount Of Goodwill) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | ||
Goodwill [Roll Forward] | |||
Goodwill | [1] | $ 1,134,368 | $ 876,106 |
Goodwill, Acquired During Period | 50,652 | 219,058 | |
Goodwill, Translation Adjustments | (48,941) | 39,204 | |
Goodwill | [1] | 1,136,079 | 1,134,368 |
United States [Member] | |||
Goodwill [Roll Forward] | |||
Goodwill | [1] | 607,326 | 574,558 |
Goodwill, Acquired During Period | 3,792 | 27,766 | |
Goodwill, Translation Adjustments | (3,275) | 5,002 | |
Goodwill | [1] | 607,843 | 607,326 |
United Kingdom [Member] | |||
Goodwill [Roll Forward] | |||
Goodwill | [1] | 457,818 | 232,849 |
Goodwill, Acquired During Period | (1,395) | 190,772 | |
Goodwill, Translation Adjustments | (36,257) | 34,197 | |
Goodwill | [1] | 420,166 | 457,818 |
Hain Pure Protein [Member] | |||
Goodwill [Roll Forward] | |||
Goodwill | [1] | 0 | 0 |
Goodwill, Acquired During Period | 45,328 | 0 | |
Goodwill, Translation Adjustments | 0 | 0 | |
Goodwill | [1] | 45,328 | 0 |
All Other Segments [Member] | |||
Goodwill [Roll Forward] | |||
Goodwill | [1] | 69,224 | 68,699 |
Goodwill, Acquired During Period | 2,927 | 520 | |
Goodwill, Translation Adjustments | (9,409) | 5 | |
Goodwill | [1] | $ 62,742 | $ 69,224 |
[1] | The total carrying value of goodwill for all periods in the table above is reflected net of $42,029 of accumulated impairment charges recorded during fiscal 2009 which relate to the Company’s United Kingdom and Europe operating segments. |
Goodwill And Other Intangible56
Goodwill And Other Intangible Assets (Components Of Trademarks And Other Intangible Assets) (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Jun. 30, 2014 |
Indefinite-lived Intangible Assets [Line Items] | ||
Net carrying amount | $ 647,754 | $ 651,482 |
Trademarks And Tradenames [Member] | ||
Indefinite-lived Intangible Assets [Line Items] | ||
Trademarks and tradenames | 507,853 | 498,068 |
Other Intangibles [Member] | ||
Indefinite-lived Intangible Assets [Line Items] | ||
Other intangibles | 207,609 | 206,071 |
Less: accumulated amortization | $ (67,708) | $ (52,657) |
Goodwill And Other Intangible57
Goodwill And Other Intangible Assets (Amortization Expense) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2013 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |||
Amortization of All Intangible Assets including those not acquired in business combinations | $ 17,985 | $ 15,600 | $ 12,398 |
Goodwill And Other Intangible58
Goodwill And Other Intangible Assets (Expected Amortization Expense Over Next Five Fiscal Years) (Details) $ in Thousands | Jun. 30, 2015USD ($) |
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract] | |
Estimated amortization expense, FY2016 | $ 17,017 |
Estimated amortization expense, FY2017 | 16,613 |
Estimated amortization expense, FY2018 | 16,522 |
Estimated amortization expense, FY2019 | 13,967 |
Estimated amortization expense, FY2020 | $ 13,592 |
Goodwill And Other Intangible59
Goodwill And Other Intangible Assets (Narrative) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2013 | |
Finite-Lived Intangible Assets [Line Items] | |||
Goodwill, Impaired, Accumulated Impairment Loss | $ 42,029 | ||
Asset Impairment Charges | 5,510 | $ 0 | $ 0 |
Intangible assets deemed to have a finite life | $ 207,609 | ||
Finite-Lived Intangible Assets, Remaining Amortization Period | 10 years 2 months | ||
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 |
Accrued Expenses and Other Cu60
Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Jun. 30, 2014 |
Accrued Liabilities, Current [Abstract] | ||
Payroll, Employee Benefits and Other Administrative Accruals | $ 65,044 | $ 54,171 |
Selling and Marketing Related Accruals | 10,938 | 11,310 |
Contingent Consideration Current Liability | 0 | 5,611 |
Other Accrued Liabilities, Current | 3,185 | 13,814 |
Accrued expenses and other current liabilities | $ 79,167 | $ 84,906 |
Debt and Borrowings Debt and 61
Debt and Borrowings Debt and Borrowings (Schedule of Debt Balances) (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Jun. 30, 2014 |
Debt Instrument [Line Items] | ||
Senior notes outstanding | $ 150,000 | $ 150,000 |
Tilda Vendor Loan Note | 0 | 34,056 |
Capital Lease Obligations | 4,067 | 3,390 |
Long-term Debt | 843,883 | 867,923 |
Current portion of long-term debt | 31,275 | 100,096 |
Long-term Debt, Excluding Current Maturities | 812,608 | 767,827 |
Revolving Credit Facility [Member] | ||
Debt Instrument [Line Items] | ||
Long-term Line of Credit | 660,216 | 614,502 |
Tilda borrowing arrangement [Member] | ||
Debt Instrument [Line Items] | ||
Long-term Line of Credit | $ 29,600 | $ 65,975 |
Debt and Borrowings Debt and 62
Debt and Borrowings Debt and Borrowings (Maturities of Debt Instruments) (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Jun. 30, 2014 |
Maturities of Long-term Debt [Abstract] | ||
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months | $ 31,275 | |
Long-term Debt, Maturities, Repayments of Principal in Year Two | 2,130 | |
Long-term Debt, Maturities, Repayments of Principal in Year Three | 197 | |
Long-term Debt, Maturities, Repayments of Principal in Year Four | 60 | |
Long-term Debt | $ 843,883 | $ 867,923 |
Debt and Borrowings (Narrative)
Debt and Borrowings (Narrative) (Details) £ in Thousands, $ in Thousands | 12 Months Ended | ||||
Jun. 30, 2015USD ($) | Jun. 30, 2014USD ($) | Jun. 30, 2013USD ($) | Jun. 30, 2015GBP (£) | Jun. 30, 2015USD ($) | |
Debt Disclosure [Abstract] | |||||
Aggregate principal amount of senior notes | $ 150,000 | ||||
Senior notes term, in years | 10 | ||||
Senior notes maturity date | May 2, 2016 | ||||
Senior notes interest percentage | 5.98% | 5.98% | |||
Senior notes outstanding | $ 150,000 | $ 150,000 | |||
Revolving credit facility expiration date | Dec. 12, 2019 | ||||
Interest coverage ratio | 4 | ||||
Leverage ratio | 3.5 | ||||
Consolidated leverage ratio | 4 | ||||
Line Of Credit Potential Incremental Borrowing Capacity Post-Amendment | 350,000 | ||||
Interest Paid | $ 22,865 | 20,560 | $ 19,154 | ||
Revolving Credit Facility [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Borrowings outstanding under credit agreement | 614,502 | 660,216 | |||
Revolving credit facility | $ 1,000,000 | ||||
Long-term Debt, Weighted Average Interest Rate | 1.69% | 1.69% | |||
Tilda borrowing arrangement [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Borrowings outstanding under credit agreement | $ 65,975 | $ 29,600 | |||
Revolving credit facility | £ | £ 50,393 | ||||
Short-term Debt, Weighted Average Interest Rate | 2.80% | 2.80% | |||
Minimum [Member] | Revolving Credit Facility [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage | 0.20% | ||||
Minimum [Member] | Eurocurrency Rate [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Debt Instrument, Basis Spread on Variable Rate | 0.875% | ||||
Minimum [Member] | Base Rate [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Debt Instrument, Basis Spread on Variable Rate | 0.00% | ||||
Maximum [Member] | Revolving Credit Facility [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage | 0.30% | ||||
Maximum [Member] | Eurocurrency Rate [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Debt Instrument, Basis Spread on Variable Rate | 1.70% | ||||
Maximum [Member] | Base Rate [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Debt Instrument, Basis Spread on Variable Rate | 0.70% |
Income Taxes Income Taxes (Narr
Income Taxes Income Taxes (Narrative) (Details) - Business Acquisition, Acquiree [Domain] - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2013 | |
Income Tax Contingency [Line Items] | |||
Effective Income Tax Rate, Continuing Operations | 22.20% | 33.80% | 22.30% |
Gain (Loss) on Disposition of Stock in Subsidiary or Equity Method Investee | $ 8,256 | $ 0 | $ 0 |
Income Taxes (Components of Inc
Income Taxes (Components of Income Before Income Taxes) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2013 | |
Income Tax Disclosure [Abstract] | |||
Domestic | $ 176,898 | $ 157,492 | $ 130,908 |
Foreign | 38,392 | 50,102 | 22,914 |
Total | $ 215,290 | $ 207,594 | $ 153,822 |
Income Taxes (Provision for Inc
Income Taxes (Provision for Income Taxes) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2013 | |
Income Tax Disclosure [Abstract] | |||
Income Taxes Paid | $ 47,317 | $ 47,339 | $ 22,051 |
Federal | 41,268 | 46,722 | 31,370 |
State and local | 8,237 | 7,891 | 3,792 |
Foreign | 9,981 | 16,836 | 6,565 |
Current Income Tax Expense (Benefit) | 59,486 | 71,449 | 41,727 |
Federal | (10,191) | 2,287 | (4,064) |
State and local | (932) | 372 | (405) |
Foreign | (480) | (4,009) | (2,934) |
Deferred Income Tax Expense (Benefit) | (11,603) | (1,350) | (7,403) |
Provision for income taxes | $ 47,883 | $ 70,099 | $ 34,324 |
Income Taxes (Reconciliation of
Income Taxes (Reconciliation of Expected Income Taxes) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2013 | |
Income Tax Disclosure [Abstract] | |||
Income Tax Reconciliation, Income Tax Expense (Benefit), at Federal Statutory Income Tax Rate | $ 75,352 | $ 72,659 | $ 53,838 |
Income Tax Reconciliation, State and Local Income Taxes | 4,834 | 5,371 | 3,278 |
Income Tax Reconciliation, Deductions, Qualified Production Activities | (1,210) | (2,482) | (2,563) |
Income Tax Reconciliation, Foreign Income Tax Rate Differential | (9,105) | (4,842) | (4,950) |
Effective Income Tax Rate Reconciliation, Deduction, Amount | (20,670) | 0 | 0 |
Income Tax Reconciliation, Nondeductible Expense, Other | (2,890) | 0 | 0 |
Effective Income Tax Rate Reconciliation, Disposition of Asset, Amount | 0 | 0 | (13,186) |
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount | 0 | (3,739) | (2,288) |
Income Tax Reconciliation, Other Adjustments | 1,572 | 3,132 | 195 |
Provision for income taxes | $ 47,883 | $ 70,099 | $ 34,324 |
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 | 2.20% | 2.60% | 2.10% |
Effective Income Tax Rate Reconciliation, Deductions, Qualified Production Activities | (0.60%) | (1.20%) | (1.70%) |
Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential | (4.20%) | (2.30%) | (3.20%) |
Effective Income Tax Rate Reconciliation, Deduction, Percent | (9.60%) | 0.00% | 0.00% |
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Other | (1.30%) | 0.00% | 0.00% |
Effective Income Tax Rate Reconciliation, Disposition of Asset, Percent | 0.00% | 0.00% | (8.60%) |
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Percent | 0.00% | (1.80%) | (1.40%) |
Effective Income Tax Rate Reconciliation, Other Adjustments, Percent | 0.70% | 1.50% | 0.10% |
Effective Income Tax Rate, Continuing Operations | 22.20% | 33.80% | 22.30% |
Income Taxes (Components of Def
Income Taxes (Components of Deferred Tax Assets and Liabilities) (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2013 |
Income Tax Disclosure [Abstract] | |||
Deferred Tax Assets, Tax Credit Carryforwards, Foreign | $ 3,998 | ||
Basis difference on inventory | 8,106 | $ 5,995 | |
Reserves not currently deductible | 12,334 | 17,365 | |
Other | 318 | 420 | |
Deferred income taxes | 20,758 | 23,780 | |
Difference in amortization | (155,049) | (143,478) | |
Basis difference on property and equipment | (21,067) | (17,782) | |
Other comprehensive income | (1,217) | (7,969) | |
Net operating loss and tax credit carryforwards | 31,996 | 24,067 | |
Stock based compensation | 6,828 | 6,526 | |
Other | 2,267 | 27 | |
Valuation Allowance, Amount | (9,055) | (9,830) | $ (10,456) |
Deferred income taxes | (145,297) | (148,439) | |
Deferred Tax Assets, Net | (124,539) | $ (124,659) | |
Federal Tax Net Operating Losses Carryforwards | 42,880 | ||
Deferred Tax Assets, Operating Loss Carryforwards, Foreign | $ 9,055 |
Income Taxes (Changes in Valuat
Income Taxes (Changes in Valuation Allowances) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2013 | |
Valuation Allowance [Line Items] | |||
Valuation Allowance, Amount | $ 9,055 | $ 9,830 | $ 10,456 |
Valuation Allowance, Deferred Tax Asset, Change in Amount | 0 | (3,036) | |
Additions To Valuation Allowance [Member] | |||
Valuation Allowance [Line Items] | |||
Valuation Allowance, Deferred Tax Asset, Change in Amount | 214 | 2,226 | |
Reductions to Valuation Allowance [Member] | |||
Valuation Allowance [Line Items] | |||
Valuation Allowance, Deferred Tax Asset, Change in Amount | 0 | (760) | |
Translation Adjustments to Valuation Allowance [Member] | |||
Valuation Allowance [Line Items] | |||
Valuation Allowance, Deferred Tax Asset, Change in Amount | $ (989) | $ 944 |
Income Taxes (Unrecognized Tax
Income Taxes (Unrecognized Tax Benefits Activity) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2013 | |
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Balance at beginning of year | $ 2,351 | $ 2,507 | $ 1,337 |
Unrecognized Tax Benefits, Increases Resulting from Prior Period Tax Positions | 722 | 750 | 574 |
Unrecognized Tax Benefits, Increase Resulting from Acquisition | 0 | 0 | 941 |
Unrecognized Tax Benefits, Reductions Resulting from Lapse of Applicable Statute of Limitations | (753) | (906) | (345) |
Balance at end of year | $ 2,320 | $ 2,351 | $ 2,507 |
Income Taxes (Narrative) (Detai
Income Taxes (Narrative) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2013 | |
Income Tax Contingency [Line Items] | |||
Effective Income Tax Rate Reconciliation, Deduction, Amount | $ (20,670) | $ 0 | $ 0 |
Unrecognized Tax Benefits that Would Impact Effective Tax Rate | 2,320 | ||
Undistributed Earnings of Foreign Subsidiaries | 155,152 | ||
Deferred Tax Assets, Tax Credit Carryforwards, Foreign | $ 3,998 | ||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate | 35.00% | 35.00% | 35.00% |
Income Taxes Paid | $ 47,317 | $ 47,339 | $ 22,051 |
Federal Tax Net Operating Losses Carryforwards | 42,880 | ||
Deferred Tax Assets, Operating Loss Carryforwards, Foreign | 9,055 | ||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense | 10 | 6 | 268 |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued | 86 | 76 | |
Unrecognized Tax Benefits, Reductions Resulting from Lapse of Applicable Statute of Limitations | $ (753) | $ (906) | $ (345) |
Stockholders' Equity Narrative
Stockholders' Equity Narrative (Details) - Business Acquisition, Acquiree [Domain] - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2013 | |
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | 462,856 | 3,559,834 | 3,396,944 |
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned | $ 19,690 | $ 159,521 | $ 102,636 |
Preferred Stock, Shares Outstanding | 0 | ||
Preferred Stock, Shares Authorized | 5,000,000 | 5,000,000 |
Stockholders' Equity Accumulate
Stockholders' Equity Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2013 | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Other Comprehensive Income (Loss), Net of Tax | $ (102,534) | $ 87,379 | $ (21,868) | |
Accumulated Translation Adjustment [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | [1] | (103,209) | 90,625 | |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | 0 | 0 | ||
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | 5,449 | (1,214) | ||
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | [2] | (3,868) | (190) | |
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax | 5,087 | 284 | ||
Accumulated Net Unrealized Investment Gain (Loss) [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | (595) | (1,121) | ||
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | [3] | (311) | (721) | |
Intra-entity foreign currency transactions [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | $ 40,017 | $ 21,862 | ||
[1] | Foreign currency translation adjustments include intra-entity foreign currency transactions that are of a long-term investment nature of $40,017 and $21,862 for fiscal years ended June 30, 2015 and 2014, respectively. | |||
[2] | Amounts reclassified into income for deferred gains on cash flow hedging instruments are recorded in “Cost of sales” in the Consolidated Statements of Income and, before taxes, were $5,087 and $284 for the fiscal years ended June 30, 2015 and 2014, respectively. | |||
[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 Statements of Income. There was no tax expense associated with these gains reclassified into income as the Company utilized capital losses to offset these gains. |
Stock Based Compensation And 74
Stock Based Compensation And Incentive Performance Plans Stock Based Compensation And Incentive Performance Plans (Stock Plans Narrative) (Details) - shares | 12 Months Ended | |||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 1,248,912 | 2,674,290 | 3,557,504 | 5,160,866 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 1,145,042 | 1,258,744 | 1,547,136 | 974,818 |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 11,723,361 | |||
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 | 31,500,000 | |||
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 | 439,652 | 387,760 | 1,290,254 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 1,126,968 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 1,098,254 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 9,339,767 | |||
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 | 3,200,000 | |||
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 | 365,400 | 353,120 | 1,227,200 | |
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 | 108,638 | 74,680 | 898,032 | |
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 | 1,900,000 | |||
Options, Grants in Period, Gross | 0 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 19,800 | 28,000 | 49,500 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 46,788 | |||
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 | 1,500,000 | |||
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 | 121,944 |
Stock Based Compensation And 75
Stock Based Compensation And Incentive Performance Plans (Other Narrative) (Details) - USD ($) $ in Thousands | Jul. 03, 2012 | Sep. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2013 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
CEO Grant July 2012 Share Tranche | 200,000 | ||||
Other Labor-related Expenses | $ 4,967 | $ 9,495 | $ 7,460 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period | 311,284 | 224,792 | 1,123,064 | ||
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 3 months | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | $ 74,616 | ||||
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Period for Recognition | 4 years | ||||
LTIP Value Settled After Deducting Initial Equity Grants | $ 7,439 | ||||
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Share-based Awards Other than Options | $ 19,378 | ||||
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 | ||||
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 | 148,168 |
Stock Based Compensation And 76
Stock Based Compensation And Incentive Performance Plans (Compensation Cost And Related Income Tax Benefits Recognized) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2013 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||
Compensation cost (included in selling, general and administrative expense) | $ 12,197 | $ 12,448 | $ 13,010 |
Related income tax benefit | $ 4,695 | $ 4,787 | $ 4,969 |
Stock Based Compensation And 77
Stock Based Compensation And Incentive Performance Plans (Summary Of Stock Option Activity) (Details) - $ / shares | 12 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2013 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | |||
Options, Outstanding, Number (beginning of period) | 2,674,290 | 3,557,504 | 5,160,866 |
Options, Outstanding, Weighted Average Exercise Price (beginning of period) | $ 9.83 | $ 9.44 | $ 9 |
Options, Exercises in Period | (1,425,378) | (882,614) | (1,590,562) |
Options, Exercises in Period, Weighted Average Exercise Price | $ 13.08 | $ 8.30 | $ 8.03 |
Options, Forfeitures in Period | 0 | (600) | (12,800) |
Options, Forfeitures in Period, Weighted Average Exercise Price | $ 0 | $ 8.01 | $ 7.44 |
Options, Outstanding, Number (end of period) | 1,248,912 | 2,674,290 | 3,557,504 |
Options, Outstanding, Weighted Average Exercise Price (end of period) | $ 6.12 | $ 9.83 | $ 9.44 |
Options, Exercisable, Number | 1,248,912 | 2,674,290 | 3,470,854 |
Options, Exercisable, Weighted Average Exercise Price | $ 6.12 | $ 9.83 | $ 9.45 |
Stock Based Compensation And 78
Stock Based Compensation And Incentive Performance Plans (Schedule Of Cash Proceeds Received From Share-Based Payment Awards) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2013 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||
Intrinsic value of options exercised | $ 62,213 | $ 29,778 | $ 39,562 |
Cash received from stock option exercises | 18,643 | 7,320 | 12,763 |
Tax benefit recognized from stock option exercises | $ 24,213 | $ 11,584 | $ 14,468 |
Stock Based Compensation And 79
Stock Based Compensation And Incentive Performance Plans (Non-Vested Restricted Stock And Restricted Share Unit Awards) (Details) - $ / shares | 12 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2013 | |
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 | 1,258,744 | 1,547,136 | 974,818 |
Non-vested restricted stock and units - beginning of year, Weighted Average Grant Date Fair Value (per share) | $ 25.44 | $ 21.22 | $ 14.97 |
Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period | 311,284 | 224,792 | 1,123,064 |
Granted, Weighted Average Grant Date Fair Value (per share) | $ 54.11 | $ 41.39 | $ 22.80 |
Vested, Number of Shares and Units | (401,936) | (476,290) | (531,638) |
Vested, Weighted Average Grant Date Fair Value (per share) | $ 26.86 | $ 19.09 | $ 13.12 |
Forfeited, Number of Shares and Units | (23,050) | (36,894) | (19,108) |
Forfeited, Weighted Average Grant Date Fair Value (per share) | $ 40.65 | $ 28.72 | $ 19.37 |
Non-vested restricted stock and units - end of year, Number of Shares and Units | 1,145,042 | 1,258,744 | 1,547,136 |
Non-vested restricted stock and units - end of year, Weighted Average Grant Date Fair Value (per share) | $ 32.30 | $ 25.44 | $ 21.22 |
Stock Based Compensation And 80
Stock Based Compensation And Incentive Performance Plans (Restricted Stock Grant Information) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2013 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||
Fair value of restricted stock and restricted stock units granted | $ 16,462 | $ 9,303 | $ 25,606 |
Fair value of shares vested | 21,481 | 19,905 | 16,547 |
Tax benefit recognized from restricted shares vesting | $ 8,364 | $ 7,535 | $ 6,253 |
Stock Based Compensation And 81
Stock Based Compensation And Incentive Performance Plans Stock Based Compensation And Incentive Performance Plans (CEO July 2012 Grant) (Details) - Jul. 03, 2012 - USD ($) $ / shares in Units, $ in Thousands | Total |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
CEO Grant July 2012 Total Shares | 800,000 |
CEO Grant July 2012 Share Tranche | 200,000 |
CEO Grant July 2012 Market Price Target Tranche 1 | $ 31.25 |
CEO Grant July 2012 Market Price Target Tranche 2 | 36.25 |
CEO Grant July 2012 Market Price Target Tranche 3 | 41.25 |
CEO Grant July 2012 Market Price Target Tranche 4 | $ 50 |
CEO Grant July 2012 Total Fair Value | $ 16,151 |
CEO Grant July 2012 Weighted Average Period to Recognize Expense | 4 years |
Investments And Joint Ventures
Investments And Joint Ventures (Equity Method Investments) (Details) - Jun. 30, 2015 - Hutchison Hain Organic Holdings Limited [Member] - USD ($) $ in Thousands | Total |
Schedule of Equity Method Investments [Line Items] | |
Equity Method Investment, Ownership Percentage | 50.00% |
Advances to affiliate | $ 1,109 |
Investments And Joint Venture83
Investments And Joint Ventures (Available for Sale Securities) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
Schedule of Available-for-sale Securities [Line Items] | ||
Cost-Method Investment, Percentage Of Ownership | 1.00% | |
Available For Sale Shares Sold in Period | 2,037,400 | 2,299,000 |
Available-for-sale Securities, Gross Realized Gain (Loss) | $ 311 | $ 1,511 |
Available For Sale Shares Held | 1,035,338 | |
Available for sale securities | $ 1,196 | 5,314 |
Available-for-sale Securities, Amortized Cost Basis | $ 1,291 | $ 3,831 |
Financial Instruments Measure84
Financial Instruments Measured At Fair Value (Narrative) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2013 | |
Fair Value Disclosures [Abstract] | |||
Contingent Consideration Discrete Adjustment | $ 280 | $ 3,616 | $ 2,336 |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Settlements | $ 5,477 | 11,800 | |
Fair Value Inputs, Discount Rate | 8.00% | ||
Derivative, Notional Amount | $ 47,202 | 69,431 | |
Fair value amounts of foreign exchange derivative contracts, net assets (liabilities) | $ (1,316) | (777) | |
Foreign exchange contracts, maturities | 12 months | ||
Foreign Currency Cash Flow Hedge Derivative at Fair Value, Net | $ 1,316 | 777 | |
Litigation Settlement, Prior Year Expense Amount | 1,975 | ||
Fair Value Measurement Contingent Consideration Noncurrent | 3,789 | $ 2,669 | |
Discontinued foreign exchange hedges | 0 | ||
Transfers Of Financial Instruments Between Levels | $ 0 |
Financial Instruments Measure85
Financial Instruments Measured At Fair Value (Assets And Liabilities Measured At Fair Value On A Recurring Basis) (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2013 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Cash equivalents | $ 45,101 | $ 31,902 | |
Available for sale securities | 1,196 | 5,314 | |
Assets total | 47,887 | 37,607 | |
Derivative Instruments in Hedges, Liabilities, at Fair Value | 274 | 1,168 | |
Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value | 3,789 | 8,280 | $ 22,814 |
Liabilities total | 4,063 | 9,448 | |
Quoted Prices In Active Markets (Level 1) [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Cash equivalents | 45,101 | 31,902 | |
Available for sale securities | 1,196 | 5,314 | |
Assets total | 46,297 | 37,216 | |
Significant Other Observable Inputs (Level 2) [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets total | 1,590 | 391 | |
Liabilities total | 274 | 1,168 | |
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 | 3,789 | 8,280 | |
Liabilities total | 3,789 | 8,280 | |
Forward Foreign Currency Contracts [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivatives designated as hedging instruments, assets | 1,590 | 391 | |
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 | 1,590 | 391 | |
Derivative Instruments in Hedges, Liabilities, at Fair Value | $ 274 | $ 1,168 |
Financial Instruments Measure86
Financial Instruments Measured At Fair Value (Summary Of Level 3 Activity) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value | $ 8,280 | $ 22,814 |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Gain (Loss) Included in Earnings | 280 | (3,026) |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Settlements | (5,477) | (11,800) |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Gain (Loss) Included in Other Comprehensive Income (Loss) | (897) | 292 |
Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value | 3,789 | 8,280 |
Belvedere [Member] | ||
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Business Combination, Contingent Consideration, Liability | $ 1,603 | $ 0 |
Commitments And Contingencies O
Commitments And Contingencies Operating Lease Future Minimum Payments (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2013 | |
Operating Lease (Future Minimum Lease Payments) [Abstract] | |||
Operating Leases, Future Minimum Payments Due, Next Twelve Months | $ 15,695 | ||
Operating Leases, Future Minimum Payments, Due in Two Years | 11,921 | ||
Operating Leases, Future Minimum Payments, Due in Three Years | 10,630 | ||
Operating Leases, Future Minimum Payments, Due in Four Years | 9,728 | ||
Operating Leases, Future Minimum Payments, Due in Five Years | 7,440 | ||
Operating Leases, Future Minimum Payments, Due Thereafter | 43,437 | ||
Operating Leases, Future Minimum Payments Due | 98,851 | ||
Operating Leases, Rent Expense, Net | $ 27,028 | $ 20,567 | $ 16,449 |
Commitments And Contingencies N
Commitments And Contingencies Narrative (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Jun. 30, 2014 | Jun. 30, 2015 | |
Loss Contingencies [Line Items] | ||
Litigation Settlement, Amount | $ 7,500 | |
FaceValueOfCouponsToBeIssuedForLegalSettlement | 2,000 | |
Litigation Settlement, Expense | 5,725 | |
Litigation Settlement, Prior Year Expense Amount | 1,975 | |
Inventory Recall Expense | $ 6,000 | 34,256 |
Inventory Recall Expense, Product Returns | 15,773 | |
Inventory Recall Expense, Inventory & Other Cost of Goods Sold | 13,574 | |
Inventory Recall Expense, General & Administrative Costs | $ 4,909 |
Defined Contribution Plans Defi
Defined Contribution Plans Defined Contribution Plans (Details) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2015USD ($) | Jun. 30, 2014USD ($) | Jun. 30, 2013USD ($) | |
Defined Contribution Pension and Other Postretirement Plans Disclosure [Abstract] | |||
Defined Contribution Plan, Cost Recognized | $ 866 | $ 539 | $ 542 |
Defined Contribution Plan Eligibility Minimum Days Worked | 30 |
Segment Information (Segment Da
Segment Information (Segment Data) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2013 | |||
Segment Reporting Information [Line Items] | |||||
Revenues | $ 2,688,515 | $ 2,153,611 | $ 1,734,683 | ||
Operating Income (Loss) | 237,745 | 227,737 | 174,312 | ||
Total Acquisition & Restructuring Charges included in Corporate Segment | 8,471 | 10,076 | 16,634 | ||
Contingent Consideration Discrete Adjustment | 280 | 3,616 | 2,336 | ||
Asset Impairment Charges | 5,510 | 0 | 0 | ||
United States [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Revenues | 1,367,388 | 1,282,175 | 1,095,867 | ||
Operating Income (Loss) | 199,901 | 205,864 | 177,352 | ||
United Kingdom [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Revenues | 735,996 | 637,454 | 420,408 | ||
Operating Income (Loss) | 46,222 | 52,661 | 31,069 | ||
Hain Pure Protein [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Revenues | 358,582 | 0 | 0 | ||
Operating Income (Loss) | 26,479 | 0 | 0 | ||
All Other Segments [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Revenues | 226,549 | 233,982 | 218,408 | ||
Operating Income (Loss) | 16,438 | 16,931 | 18,671 | ||
Total Segment Operating Income [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Operating Income (Loss) | 289,040 | 275,456 | 227,092 | ||
Corporate and Other [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Operating Income (Loss) | $ (51,295) | [1] | $ (47,719) | [1] | $ (52,780) |
Sales to First Customer [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Concentration Risk, Percentage | 12.00% | 13.00% | 15.00% | ||
Sales to Second Customer [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Concentration Risk, Percentage | 10.00% | 11.00% | 10.00% | ||
[1] | (1)One of our customers accounted for approximately 12%, 13%, and 15% of our consolidated net sales for the fiscal years ended June 30, 2015, 2014 and 2013, respectively, which were primarily related to the United States segment. A second customer accounted for approximately 10%, 11% and 10% of our consolidated net sales for the fiscal years ended June 30, 2015, 2014 and 2013, which were primarily related to the United States and United Kingdom segments. |
Segment Information Segment Inf
Segment Information Segment Information (Revenue by Products) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2013 | |
Revenue from External Customer [Line Items] | |||
Revenues | $ 2,688,515 | $ 2,153,611 | $ 1,734,683 |
Grocery [Member] | |||
Revenue from External Customer [Line Items] | |||
Revenues | 1,765,540 | 1,669,208 | 1,286,377 |
Protein [Member] | |||
Revenue from External Customer [Line Items] | |||
Revenues | 358,582 | 0 | 0 |
Snacks [Member] | |||
Revenue from External Customer [Line Items] | |||
Revenues | 302,093 | 249,033 | 220,452 |
Tea [Member] | |||
Revenue from External Customer [Line Items] | |||
Revenues | 120,707 | 115,593 | 110,819 |
Personal Care [Member] | |||
Revenue from External Customer [Line Items] | |||
Revenues | $ 141,593 | $ 119,777 | $ 117,035 |
Segment Information Segment I92
Segment Information Segment Information (Long-lived Assets) (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Jun. 30, 2014 |
Disclosure on Geographic Areas, Long-Lived Assets in Entity's Country of Domicile | $ 151,450 | $ 139,919 |
Disclosure on Geographic Areas Long-Lived Assets | 380,418 | 375,864 |
CANADA | ||
Disclosure on Geographic Areas, Long-Lived Assets in Entity's Country of Domicile | 11,386 | 9,694 |
UNITED KINGDOM | ||
Disclosure on Geographic Areas, Long-Lived Assets in Entity's Country of Domicile | 195,131 | 198,505 |
Europe [Member] | ||
Disclosure on Geographic Areas, Long-Lived Assets in Entity's Country of Domicile | $ 22,451 | $ 27,746 |
Subsequent Events Subsequent Ev
Subsequent Events Subsequent Events (Details) € in Thousands, $ in Thousands | 3 Months Ended | 12 Months Ended | ||||
Sep. 30, 2015USD ($)shares | Sep. 30, 2015EUR (€)shares | Jun. 30, 2015USD ($)shares | Jun. 30, 2014USD ($)shares | Jun. 30, 2013USD ($)shares | Jul. 24, 2015USD ($) | |
Subsequent Event [Line Items] | ||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | shares | 462,856 | 3,559,834 | 3,396,944 | |||
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned | $ 19,690 | $ 159,521 | $ 102,636 | |||
Mona [Member] | ||||||
Subsequent Event [Line Items] | ||||||
Payments to Acquire Businesses and Interest in Affiliates | $ 24,562 | € 22,400 | ||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | shares | 240,207 | 240,207 | ||||
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned | $ 16,308 | |||||
Other Payments to Acquire Businesses | € | € 15,951 |
Schedule II - Valuation and Q94
Schedule II - Valuation and Qualifying Accounts (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2013 | |
Allowance for Doubtful Accounts [Member] | |||
Movement in Valuation Allowances and Reserves [Roll Forward] | |||
Valuation Allowances and Reserves, Balance beginning of period | $ 1,586 | $ 2,564 | $ 2,661 |
Valuation Allowances and Reserves, Charged to Cost and Expense | 791 | 51 | 67 |
Valuation Allowances and Reserves, Charged to Other Accounts | 20 | 330 | 0 |
Valuation Allowances and Reserves, Deductions | (1,501) | (1,359) | (164) |
Valuation Allowances and Reserves, Balance end of period | 896 | 1,586 | 2,564 |
Valuation Allowance of Deferred Tax Assets [Member] | |||
Movement in Valuation Allowances and Reserves [Roll Forward] | |||
Valuation Allowances and Reserves, Balance beginning of period | 9,830 | 10,456 | 11,183 |
Valuation Allowances and Reserves, Charged to Cost and Expense | 214 | 1,466 | (1,160) |
Valuation Allowances and Reserves, Charged to Other Accounts | 0 | 0 | 0 |
Valuation Allowances and Reserves, Deductions | (989) | (2,092) | (433) |
Valuation Allowances and Reserves, Balance end of period | $ 9,055 | $ 9,830 | $ 10,456 |