LIFECORE BIOMEDICAL, INC. \DE\
For the period ended Feb 23, 2025. Filed Apr 3, 2025.
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Feb 23, 2025 · Filed Apr 3, 2025
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Discontinued operations
- Discontinued operations
The Company previously operated a food business through its wholly-owned subsidiary, Curation Foods, Inc. (“Curation Foods”). During the year ended May 28, 2023, the Company entered into agreements for the sale or disposition of all subsidiaries within the Curation Foods business, which was completed during the year ended May 26, 2024. Upon completion of the dispositions, it ceased to operate the Curation Foods business. Interest and income tax expense are not allocated to discontinued operations for periods presented due to their immateriality.
During the nine months ended February 25, 2024, the Company reached settlement agreements related to the Curation Foods business that resulted in the receipt of cash payments totaling $2,679, which were recognized as income from discontinued operations in the nine months ended February 25, 2024. The $2,679 cash received is included in net cash from operating activities on the consolidated statement of cash flows.
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