XML 119 R106.htm IDEA: XBRL DOCUMENT v3.20.2
Selected Quarterly Financial Data (Schedule Of Quarterly Financial Information) (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended 12 Months Ended
Jun. 30, 2020
Mar. 31, 2020
Dec. 31, 2019
Sep. 30, 2019
Jun. 30, 2019
Mar. 31, 2019
Dec. 31, 2018
Sep. 30, 2018
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2018
Quarterly Financial Information Disclosure [Abstract]                      
Net Sales $ 320,854 $ 321,363 $ 355,117 $ 337,054 $ 323,670 $ 317,882 $ 349,581 $ 316,654 $ 1,334,388 [1],[2] $ 1,307,787 [1],[2] $ 1,222,925 [1],[2]
Gross Profit 89,077 76,962 99,889 92,108 78,210 75,397 91,392 81,199 358,036 326,198 303,506
Net Income $ 30,385 [3],[4] $ 22,429 [3],[4] $ 43,424 [3] $ 40,745 [3],[5] $ 33,010 [6],[7] $ 30,604 $ 47,907 [7] $ 39,028 $ 136,983 [3],[4],[5] $ 150,549 [6],[7] $ 135,314
Diluted Net Income Per Common Share (in dollars per share) $ 1.10 [3],[4],[8] $ 0.81 [3],[4],[8] $ 1.58 [3],[8] $ 1.48 [3],[5],[8] $ 1.20 [6],[7],[8] $ 1.11 [8] $ 1.73 [7],[8] $ 1.42 [8] $ 4.97 [3],[4],[5],[8] $ 5.46 [6],[7],[8] $ 4.92
Project Ascent Expenses [Member]                      
Interim Period, Costs Not Allocable [Line Items]                      
Quarterly charges and (credits), amount affecting comparability $ 4,200 $ 3,700 $ 3,700 $ 2,100 $ 1,400       $ 13,700 $ 1,400  
Quarterly charges and (credits), per share amount affecting comparability (in dollars per share) $ 0.15 $ 0.13 $ 0.14 $ 0.08 $ 0.05       $ 0.50 $ 0.05  
COVID-19 Related Expenses [Member]                      
Interim Period, Costs Not Allocable [Line Items]                      
Quarterly charges and (credits), amount affecting comparability $ 3,500 $ 4,200             $ 7,700    
Quarterly charges and (credits), per share amount affecting comparability (in dollars per share) $ 0.13 $ 0.15             $ 0.28    
Restructuring and Impairment Charges [Member]                      
Interim Period, Costs Not Allocable [Line Items]                      
Quarterly charges and (credits), amount affecting comparability       $ 700 $ 1,300       $ 700 $ 1,300  
Quarterly charges and (credits), per share amount affecting comparability (in dollars per share)       $ 0.02 $ 0.05       $ 0.02 $ 0.05  
Fair Value Adjustment [Member]                      
Interim Period, Costs Not Allocable [Line Items]                      
Quarterly charges and (credits), amount affecting comparability         $ (5,700)   $ (7,400)     $ (13,100)  
Quarterly charges and (credits), per share amount affecting comparability (in dollars per share)         $ (0.21)   $ (0.27)     $ (0.48)  
[1]
All intercompany transactions have been eliminated.
[2]
Net sales and long-lived assets are predominately domestic.
[3]
Included in net income were after-tax expenditures for Project Ascent of $2.1 million in the first quarter, or approximately $0.08 per diluted share; $3.7 million in the second quarter, or approximately $0.14 per diluted share; $3.7 million in the third quarter, or approximately $0.13 per diluted share; and $4.2 million in the fourth quarter, or approximately $0.15 per diluted share. The after-tax expense for the fiscal year was $13.7 million, or approximately $0.50 per diluted share.
[4]
Included in the third quarter and fourth quarter net income were after-tax expenses totaling $4.2 million and $3.5 million, respectively, or approximately $0.15 and $0.13 per diluted share, respectively, related to certain costs attributed to the impacts of COVID-19, including the temporary increase in pay for our front-line employees, the fourth quarter write-off of engineering costs for a canceled dressing plant expansion project and changes in the Foodservice inventory reserve. The after-tax expense for the fiscal year was $7.7 million, or approximately $0.28 per diluted share.
[5]
Included in the first quarter and fiscal year net income were after-tax restructuring and impairment charges of $0.7 million, or approximately $0.02 per diluted share.
[6]
Included in the fourth quarter and fiscal year net income were after-tax expenditures for Project Ascent of $1.4 million, or approximately $0.05 per diluted share, and after-tax restructuring and impairment charges of $1.3 million, or approximately $0.05 per diluted share.
[7]
Included in the second quarter and fourth quarter net income was an after-tax benefit of $7.4 million and $5.7 million, respectively, or approximately $0.27 and $0.21 per diluted share, respectively, related to the reduction in the fair value of Angelic’s contingent consideration liability. The after-tax benefit for the fiscal year was $13.1 million, or approximately $0.48 per diluted share.
[8]
Diluted net income per common share amounts are calculated independently for each of the quarters presented. Accordingly, the sum of the quarterly net income per common share amounts may not agree with the fiscal year.