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Business Segment Information (Tables)

12 Months Ended

Jun. 30, 2024

Segment Reporting [Abstract]

Disaggregation Of Net Sales By Class Of Similar Products

The following table sets forth net sales disaggregated by class of similar products for the Retail and Foodservice segments in each of the years ended June 30:

			2024						2023						2022
Retail
Shelf-stable dressings, sauces and croutons			$	424,605					$	422,646					$	375,031
Frozen breads			351,063						343,450						331,812
Refrigerated dressings, dips and other			212,756						199,274						208,367
Total Retail net sales			$	988,424					$	965,370					$	915,210
Foodservice
Dressings and sauces			$	660,460					$	642,153					$	574,264
Frozen breads and other			222,875						215,004						186,916
Total Foodservice net sales			$	883,335					$	857,157					$	761,180
Total net sales			$	1,871,759					$	1,822,527					$	1,676,390

Disaggregation Of Foodservice Net Sales By Type Of Customer

The following table provides an additional disaggregation of Foodservice net sales by type of customer in each of the years ended June 30:

			2024						2023						2022
Foodservice
National accounts			$	692,340					$	676,665					$	588,955
Branded and other			190,995						180,492						172,225
Total Foodservice net sales			$	883,335					$	857,157					$	761,180

Summary Of Financial Information Attributable To Reportable Segments

The following sets forth certain additional financial information attributable to our reportable segments, certain amounts not allocated among our reportable segments and amounts retained at the corporate level for the years ended June 30:

			2024						2023						2022
Net Sales (1) (2)
Retail			$	988,424					$	965,370					$	915,210
Foodservice			883,335						857,157						761,180
Total			$	1,871,759					$	1,822,527					$	1,676,390
Operating Income (2)
Retail			$	207,660					$	139,464					$	151,627
Foodservice			97,094						106,349						82,745
Nonallocated Restructuring and Impairment Charges (3)			(14,874)						—						(25,507)
Corporate Expenses (4)			(90,517)						(104,305)						(96,954)
Total			$	199,363					$	141,508					$	111,911
Identifiable Assets (1) (5)
Retail & Foodservice (6)			$	1,015,454					$	984,341					$	1,017,055
Corporate			191,477						128,653						73,319
Total			$	1,206,931					$	1,112,994					$	1,090,374
Payments for Property Additions
Retail & Foodservice (6)			$	65,629					$	89,475					$	130,502
Corporate			1,947						706						1,470
Total			$	67,576					$	90,181					$	131,972
Depreciation and Amortization
Retail & Foodservice (6)			$	51,386					$	47,001					$	42,902
Corporate			4,510						4,209						2,978
Total			$	55,896					$	51,210					$	45,880

(1)Net sales and long-lived assets are predominately domestic.

(2)All intercompany transactions have been eliminated.

(3)Reflects restructuring and impairment charges related to (i) our decision to exit our perimeter-of-the-store bakery product lines in 2024, (ii) the Bantam business in 2022 and (iii) a facility closure in 2022. These charges were not allocated to our two reportable segments due to their unusual nature.

(4)Our Corporate Expenses include various expenses of a general corporate nature, expenditures for Project Ascent and costs related to certain divested or closed nonfood operations. These costs have not been allocated to the Retail and Foodservice segments.

(5)Retail and Foodservice identifiable assets include those assets used in our operations and other intangible assets allocated to purchased businesses, most notably goodwill. The increase in Retail and Foodservice identifiable assets from June 30, 2023 to June 30, 2024 reflects a new operating lease right-of-use asset for a warehouse in Union City, Georgia. The decrease in Retail and Foodservice identifiable assets from June 30, 2022 to June 30, 2023 reflects a decline in intangible assets due to impairment charges and lower receivables balances due to the impact of advance customer orders in the prior year ahead of our ERP go-live, as partially offset by property additions due to a capacity expansion project. Corporate assets consist principally of cash and equivalents. The increase in Corporate assets from June 30, 2023 to June 30, 2024 reflects higher cash and equivalents. The increase in Corporate assets from June 30, 2022 to June 30, 2023 reflects the increase in cash and equivalents as well as prepaid income taxes.

(6)As discussed above, we do not present identifiable assets, payments for property additions or depreciation and amortization by reportable segment.

Net Sales To Major Customers

Retail segment net sales attributable to Walmart Inc. (“Walmart”) and Foodservice segment net sales attributable to McLane Company, Inc. (“McLane”), a wholesale distribution subsidiary of Berkshire Hathaway, Inc., for each of the years ended June 30 were as follows:

			2024						2023						2022
Net sales to Walmart			$	338,764					$	323,718					$	293,684
As a percentage of consolidated net sales			18		%				18		%				18		%
Net sales to McLane			$	147,242					$	205,264					$	188,717
As a percentage of consolidated net sales			8		%				11		%				11		%

Percentage Of Receivables Due From Major Customers

Accounts receivable attributable to Walmart and McLane at June 30 as a percentage of consolidated accounts receivable were as follows:

			2024						2023
Walmart			28		%				29		%
McLane			4		%				9		%

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