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Unaudited Quarterly Financial Information | 12 Months Ended
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Dec. 28, 2019
Quarterly Financial Information Disclosure [Abstract] |
Unaudited Quarterly Financial Information |
Note 2 5. | 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 |  | 2019 |  | $ | 1,263,895 |  |  | $ | 975,759 |  |  | $ | 966,561 |  |  | $ | 917,759 |
|  | 2018 |  | $ | 1,206,453 |  |  | $ | 941,283 |  |  | $ | 923,449 |  |  | $ | 880,667 |
Materials, supplies, labor and other production costs (exclusive of depreciation and amortization shown separately)* |  | 2019 |  | $ | 652,141 |  |  | $ | 508,552 |  |  | $ | 509,056 |  |  | $ | 485,960 |
|  | 2018 |  | $ | 625,122 |  |  | $ | 488,871 |  |  | $ | 485,680 |  |  | $ | 467,155 |
Net income |  | 2019 |  | $ | 65,866 |  |  | $ | 53,095 |  |  | $ | 43,358 |  |  | $ | 2,219 |
|  | 2018 |  | $ | 51,247 |  |  | $ | 45,442 |  |  | $ | 39,630 |  |  | $ | 20,841 |
Basic net income per share |  | 2019 |  | $ | 0.31 |  |  | $ | 0.25 |  |  | $ | 0.20 |  |  | $ | 0.01 |
|  | 2018 |  | $ | 0.24 |  |  | $ | 0.22 |  |  | $ | 0.19 |  |  | $ | 0.10 |
Diluted net income per share |  | 2019 |  | $ | 0.31 |  |  | $ | 0.25 |  |  | $ | 0.20 |  |  | $ | 0.01 |
|  | 2018 |  | $ | 0.24 |  |  | $ | 0.21 |  |  | $ | 0.19 |  |  | $ | 0.10 |
* | 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.
The table below presents financial results that impact comparability, by quarter, for fiscal 2019 (amounts in thousands):
Items presented separately on the Consolidated Statements of Income |  | First Quarter |  |  | Second Quarter |  |  | Third Quarter |  |  | Fourth Quarter |  |  | Fiscal 2019 |  |  | Footnote
(Recovery) loss on inferior ingredients |  | $ | (413 | ) |  | $ | — |  |  | $ | — |  |  | $ | 376 |  |  | $ | (37 | ) |  | Note 4
Restructuring and related impairment charges |  | $ | 718 |  |  | $ | 2,047 |  |  | $ | 3,277 |  |  | $ | 17,482 |  |  | $ | 23,524 |  |  | Note 5
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
(Recovery) loss on inferior ingredients |  | $ | — |  |  | $ | 3,884 |  |  | $ | (1,891 | ) |  | $ | 1,219 |  |  | $ | 3,212 |  |  | Note 4
Restructuring and related impairment charges |  | $ | 1,259 |  |  | $ | 801 |  |  | $ | 497 |  |  | $ | 7,210 |  |  | $ | 9,767 |  |  | Note 5
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 2,12

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- 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
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