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Financial Statement Revisions | 12 Months Ended
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Jan. 03, 2015
Financial Statement Revisions |
Note 3. | Financial Statement Revisions
During the fourth quarter of fiscal 2014, we revised net sales. Historically, certain immaterial discounts had been recorded as an expense to selling, distribution and administrative costs. These discounts are now recorded as contra revenue. These revisions have been made for all periods presented in this Form 10-K. The impact of these cash sales was 0.5% and 0.5% to our previously reported consolidated sales in our fiscal 2013 and fiscal 2012 financial statements, respectively. In addition, since these types of sales are only applicable to our DSD Segment, the impact was 0.6% and 0.6% to our previously reported DSD Segment sales in our fiscal 2013 and fiscal 2012 financial statements, respectively. We have concluded that these revisions are immaterial to our fiscal 2013 and 2012 financial statements and each of the quarterly periods in fiscal years 2014, 2013 and 2012. Our financial statements have been revised to correctly report the discounts by decreasing sales and decreasing selling, distribution and administrative expenses by the amount of the discounts in the respective periods presented. There are no impacts to our Consolidated Balance Sheets, Consolidated Statements of Changes in Stockholders’ Equity, or Consolidated Statements of Cash Flows for any prior periods. Additionally, the correction did not impact our previously reported income from operations, net income or earnings per share. The tables below present the revisions to the applicable financial statement line items for all periods presented and for the quarterly information for fiscal years 2014 and 2013 (amounts in thousands).
|  | Fiscal 2013 |
Impacted Financial Statement line item |  | As Previously Reported |  |  | Revisions |  |  | As Revised |
Sales |  | $ | 3,751,005 |  |  | $ | (18,389 | ) |  | $ | 3,732,616 |
Selling, distribution and administrative expense |  | $ | 1,375,131 |  |  | $ | (18,389 | ) |  | $ | 1,356,742 |
|  | Fiscal 2012 |
Impacted Financial Statement line item |  | As Previously Reported |  |  | Revisions |  |  | As Revised |
Sales |  | $ | 3,046,491 |  |  | $ | (15,367 | ) |  | $ | 3,031,124 |
Selling, distribution and administrative expense |  | $ | 1,107,480 |  |  | $ | (15,367 | ) |  | $ | 1,092,113 |
|  | Quarter 1 of Fiscal 2014 |
Impacted Financial Statement line item |  | As Previously Reported |  |  | Revisions |  |  | As Revised |
Sales |  | $ | 1,159,760 |  |  | $ | (5,843 | ) |  | $ | 1,153,917 |
Selling, distribution and administrative expense |  | $ | 426,390 |  |  | $ | (5,843 | ) |  | $ | 420,547 |
|  | Quarter 2 of Fiscal 2014 |
Impacted Financial Statement line item |  | As Previously Reported |  |  | Revisions |  |  | As Revised |
Sales |  | $ | 877,378 |  |  | $ | (4,587 | ) |  | $ | 872,791 |
Selling, distribution and administrative expense |  | $ | 319,582 |  |  | $ | (4,587 | ) |  | $ | 314,995 |
|  | Quarter 3 of Fiscal 2014 |
Impacted Financial Statement line item |  | As Previously Reported |  |  | Revisions |  |  | As Revised |
Sales |  | $ | 849,360 |  |  | $ | (4,428 | ) |  | $ | 844,932 |
Selling, distribution and administrative expense |  | $ | 306,514 |  |  | $ | (4,428 | ) |  | $ | 302,086 |
|  | Quarter 1 of Fiscal 2013 |
Impacted Financial Statement line item |  | As Previously Reported |  |  | Revisions |  |  | As Revised |
Sales |  | $ | 1,130,810 |  |  | $ | (5,888 | ) |  | $ | 1,124,922 |
Selling, distribution and administrative expense |  | $ | 411,439 |  |  | $ | (5,888 | ) |  | $ | 405,551 |
|  | Quarter 2 of Fiscal 2013 |
Impacted Financial Statement line item |  | As Previously Reported |  |  | Revisions |  |  | As Revised |
Sales |  | $ | 898,153 |  |  | $ | (4,577 | ) |  | $ | 893,576 |
Selling, distribution and administrative expense |  | $ | 325,946 |  |  | $ | (4,577 | ) |  | $ | 321,369 |
|  | Quarter 3 of Fiscal 2013 |
Impacted Financial Statement line item |  | As Previously Reported |  |  | Revisions |  |  | As Revised |
Sales |  | $ | 878,492 |  |  | $ | (4,363 | ) |  | $ | 874,129 |
Selling, distribution and administrative expense |  | $ | 327,529 |  |  | $ | (4,363 | ) |  | $ | 323,166 |
|  | Quarter 4 of Fiscal 2013 |
Impacted Financial Statement line item |  | As Previously Reported |  |  | Revisions |  |  | As Revised |
Sales |  | $ | 843,550 |  |  | $ | (3,561 | ) |  | $ | 839,989 |
Selling, distribution and administrative expense |  | $ | 310,217 |  |  | $ | (3,561 | ) |  | $ | 306,656

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- Definition The entire disclosure for reporting accounting changes and error corrections. It includes the conveyance of information necessary for a user of the Company's financial information to understand all aspects and required disclosure information concerning all changes and error corrections reported in the Company's financial statements for the period. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=28359718&loc=d3e22644-107794 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 45 -Paragraph 23 -URI http://asc.fasb.org/extlink&oid=6368906&loc=d3e21914-107793 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=28359718&loc=d3e22595-107794 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=28359718&loc=d3e22499-107794 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB TOPIC 1.N.Q3) -URI http://asc.fasb.org/extlink&oid=26874127&loc=d3e30840-122693 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 1 -Section N + Details
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