Company: THS
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0001320695-25-000007
Chunk: 5

Company: TreeHouse Foods, Inc.
Filing Date: 2025-02-14
Form: 10-K
Item: Item 8
Chunk 5
---
 property, plant, and equipment. The impairment charge is included in asset impairment in the consolidated statements of operations. 

We identified the valuation of these impaired assets as a critical audit matter because of the significant estimates and assumptions management made to determine the fair value of the personal property assets comprising the RTD asset group. A high degree of auditor judgment was applied in evaluating certain inputs to the fair value measurement of the personal property assets, including the involvement of our fair value specialists and deploying more experienced audit professionals.

46

How the Critical Audit Matter Was Addressed in the Audit

Our audit procedures related to the valuation of the personal property included the following, among others: 

•We tested the effectiveness of the control over management’s review of the recoverability of long-lived assets and the impairment loss measurement.

•With the assistance of our fair value specialists, we evaluated the Company’s methodology for determining the fair value of the personal property assets and the source information and assumptions used by management in the valuation analysis.

•We evaluated the mathematical accuracy of the Company's fair value analysis.

/s/ DELOITTE & TOUCHE LLP

Chicago, Illinois  

February 14, 2025  

We have served as the Company's auditor since 2005.

47

TREEHOUSE FOODS, INC.

CONSOLIDATED BALANCE SHEETS

(In millions, except per share data) 

December 31, 2024December 31, 2023ASSETSCurrent assets:  Cash and cash equivalents$289.6 $320.3 Receivables, net of allowance for credit losses of $0.5 in 2024 and $0.4 in 2023146.8 175.6 Inventories539.3 534.0 Prepaid expenses and other current assets34.0 24.9 Total current assets1,009.7 1,054.8 Property, plant, and equipment, net748.6 737.6 Operating lease right-of-use assets154.4 193.0 Goodwill1,819.3 1,824.7 Intangible assets, net212.9 257.4 Other assets, net35.1 39.1 Total assets$3,980.0 $4,106.6 LIABILITIES AND STOCKHOLDERS' EQUITYCurrent liabilities:  Accounts payable$602.5 $534.9 Accrued expenses141.