XML 56 R35.htm IDEA: XBRL DOCUMENT
v3.10.0.1

Unaudited Quarterly Financial Information | 12 Months Ended
--- | ---
Dec. 29, 2018
Quarterly Financial Information Disclosure [Abstract] |
Unaudited Quarterly Financial Information |
Note 26. | 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 (amounts in thousands, except per share data):
|  |  |  | First Quarter** |  |  | Second Quarter** |  |  | Third Quarter** |  |  | Fourth Quarter |
Sales |  | 2018 |  | $ | 1,206,453 |  |  | $ | 941,283 |  |  | $ | 923,449 |  |  | $ | 880,667 |
|  | 2017 |  | $ | 1,187,649 |  |  | $ | 926,639 |  |  | $ | 932,822 |  |  | $ | 873,623 |
Materials, supplies, labor and other production costs (exclusive of depreciation and amortization shown separately)* |  | 2018 |  | $ | 625,122 |  |  | $ | 488,871 |  |  | $ | 485,680 |  |  | $ | 467,155 |
|  | 2017 |  | $ | 608,068 |  |  | $ | 468,246 |  |  | $ | 476,264 |  |  | $ | 456,895 |
Net income (loss) |  | 2018 |  | $ | 51,247 |  |  | $ | 45,442 |  |  | $ | 39,630 |  |  | $ | 20,841 |
|  | 2017 |  | $ | 60,418 |  |  | $ | 44,740 |  |  | $ | (33,571 | ) |  | $ | 78,533 |
Basic net income (loss) per share |  | 2018 |  | $ | 0.24 |  |  | $ | 0.22 |  |  | $ | 0.19 |  |  | $ | 0.10 |
|  | 2017 |  | $ | 0.29 |  |  | $ | 0.21 |  |  | $ | (0.16 | ) |  | $ | 0.37 |
Diluted net income (loss) per share |  | 2018 |  | $ | 0.24 |  |  | $ | 0.21 |  |  | $ | 0.19 |  |  | $ | 0.10 |
|  | 2017 |  | $ | 0.29 |  |  | $ | 0.21 |  |  | $ | (0.16 | ) |  | $ | 0.37 |
* | The company does not report gross margin. This line item presents our material, supplies, labor and other production costs (exclusive of depreciation and amortization shown separately) under an alternative presentation.
** | As disclosed in Note 4, Financial Statement Revisions, the company reported cash receipts and payments for the repurchase and sale of territories and cash paid at issuance of notes receivable at net when these transactions should have been disaggregated. We concluded that the errors were not material to any of these prior periods that were impacted. The error resulted in an understatement of cash flows from operating activities and cash flows used in investing activities of $5.9 million, $12.1 million and $12.8 million, respectively, for the sixteen, twenty-eight, and forty-week amounts included in the first, second, and third quarters of fiscal 2017, respectively. These amounts were revised upon subsequent presentation of these financial statements.
The table below presents financial results that impact comparability, by quarter, for fiscal 2018 (amounts in thousands):
Items presented separately on the Consolidated Statements of Income |  | First Quarter |  |  | Second Quarter |  |  | Third Quarter |  |  | Fourth Quarter |  |  | Fiscal 2018 |  |  | Footnote
Loss (recovery) on inferior ingredients |  | $ | — |  |  | $ | 3,884 |  |  | $ | (1,891 | ) |  | $ | 1,219 |  |  | $ | 3,212 |  |  | Note 5
Restructuring and related impairment charges |  | $ | 1,259 |  |  | $ | 801 |  |  | $ | 497 |  |  | $ | 7,210 |  |  | $ | 9,767 |  |  | Note 6
Multi-employer pension plan withdrawal costs |  | $ | 2,322 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 2,322 |  |  | Note 22
Pension plan settlement loss |  | $ | 4,668 |  |  | $ | 1,035 |  |  | $ | 930 |  |  | $ | 1,148 |  |  | $ | 7,781 |  |  | Note 22
Impairment of assets |  | $ | 2,483 |  |  | $ | — |  |  | $ | — |  |  | $ | 3,516 |  |  | $ | 5,999 |  |  | Note 2,13
The table below presents financial results that impact comparability, by quarter, for fiscal 2017 (amounts in thousands):
Items presented separately on the Consolidated Statements of Income |  | First Quarter |  |  | Second Quarter |  |  | Third Quarter |  |  | Fourth Quarter |  |  | Fiscal 2017 |  |  | Footnote
Gain on divestiture |  | $ | (28,875 | ) |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (28,875 | ) |  | Note 7
Restructuring and related impairment charges |  | $ | — |  |  | $ | — |  |  | $ | 100,549 |  |  | $ | 3,581 |  |  | $ | 104,130 |  |  | Note 6
Multi-employer pension plan withdrawal costs |  | $ | — |  |  | $ | — |  |  | $ | 18,268 |  |  | $ | — |  |  | $ | 18,268 |  |  | Note 22
Pension plan settlement loss |  | $ | — |  |  | $ | — |  |  | $ | 3,030 |  |  | $ | 1,619 |  |  | $ | 4,649 |  |  | Note 22
Income tax benefit resulting from tax reform |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (48,160 | ) |  | $ | (48,160 | ) |  | Note 23

X
- References No definition available. + Details
Name: | us-gaap_QuarterlyFinancialInformationDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -URI http://asc.fasb.org/topic&trid=2126967 + Details
Name: | us-gaap_QuarterlyFinancialInformationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration