XML 69 R31.htm IDEA: XBRL DOCUMENT v2.4.0.8
Unaudited Quarterly Financial Information
 12 Months Ended
Dec. 28, 2013
Unaudited Quarterly Financial Information
Note 22. Unaudited Quarterly Financial Information

Results of operations for each of the four quarters in the respective fiscal years are as follows. Each quarter represents a period of twelve weeks, except the first quarter, which includes sixteen weeks. During the company’s fourth quarter of fiscal 2013, we identified and recorded an out-of-period adjustment of $4.4 million ($2.7 million, net of tax) for an environmental liability recorded in an acquisition to reduce selling, distribution and administrative expenses and reduce accrued liabilities. This entry should have been recorded in the fourth quarter of fiscal 2012 when the company was contractually relieved of the liability. As described in Note 6, Goodwill and Other Intangible Assets, during fiscal 2013 we also recorded two out-of-period adjustments to goodwill and other balance sheet accounts totaling $2.0 million ($1.1 million in second quarter 2013 and $0.9 million in fourth quarter 2013) to correct the opening balance sheets of prior acquisitions. We evaluated the impact of these adjustments on our previously issued financial statements for each of the periods affected and concluded that the impact was not material. We also evaluated the impact of recording the corrections in our fiscal 2013 financial statements and concluded that the impact is not material.

First Quarter Second Quarter Third Quarter Fourth Quarter
(Amounts in thousands, except per share data)

Sales

 2013 $ 1,130,810 $ 898,153 $ 878,492 $ 843,550
2012 $ 898,206 $ 681,561 $ 717,282 $ 749,442

Materials, supplies, labor and other production costs (exclusive of depreciation and amortization shown separately)

 2013 $ 585,298 $ 471,614 $ 467,798 $ 447,511
2012 $ 478,978 $ 365,658 $ 382,508 $ 390,666

Net income.

 2013 $ 112,026 $ 46,460 $ 33,888 $ 38,520 *
2012 $ 37,943 $ 28,380 $ 31,231 $ 38,567

Basic net income per share

 2013 $ 0.54 $ 0.22 $ 0.16 $ 0.18 *
2012 $ 0.19 $ 0.14 $ 0.15 $ 0.18

Diluted net income per share

 2013 $ 0.53 $ 0.22 $ 0.16 $ 0.18 *
2012 $ 0.19 $ 0.14 $ 0.15 $ 0.18

* Includes an out-of-period adjustment of $4.4 million ($2.7 million, net of tax) described above.