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Unaudited Quarterly Financial Information
 12 Months Ended
Jan. 02, 2021
Quarterly Financial Information Disclosure [Abstract]  
Unaudited Quarterly Financial Information

Note 24.

Unaudited Quarterly Financial Information

Results of operations for each of the four quarters in the respective fiscal years are as follows. For Fiscal 2020, first quarter consisted of sixteen weeks, second and third quarters twelve weeks, and fourth quarter thirteen weeks.  For Fiscal 2019, 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

 

2020

 

$

1,349,444

 

 

$

1,025,861

 

 

$

989,650

 

 

$

1,023,036

 

 

 

2019

 

$

1,263,895

 

 

$

975,759

 

 

$

966,561

 

 

$

917,759

 

Materials, supplies, labor and other production costs

   (exclusive of depreciation and amortization

   shown separately)*

 

2020

 

$

670,873

 

 

$

506,033

 

 

$

497,659

 

 

$

521,577

 

 

 

2019

 

$

652,141

 

 

$

508,552

 

 

$

509,056

 

 

$

485,960

 

Net (loss) income

 

2020

 

$

(5,772

)

 

$

57,919

 

 

$

44,347

 

 

$

55,824

 

 

 

2019

 

$

65,866

 

 

$

53,095

 

 

$

43,358

 

 

$

2,219

 

Basic net (loss) income per share

 

2020

 

$

(0.03

)

 

$

0.27

 

 

$

0.21

 

 

$

0.26

 

 

 

2019

 

$

0.31

 

 

$

0.25

 

 

$

0.20

 

 

$

0.01

 

Diluted net (loss) income per share

 

2020

 

$

(0.03

)

 

$

0.27

 

 

$

0.21

 

 

$

0.26

 

 

 

2019

 

$

0.31

 

 

$

0.25

 

 

$

0.20

 

 

$

0.01

 

 

*

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 2020 (amounts in thousands):

 

Items presented separately on the Consolidated

Statements of Income

 

First

Quarter

 

 

Second

Quarter

 

 

Third

Quarter

 

 

Fourth Quarter

 

 

Fiscal 2020

 

 

Footnote

Loss on inferior ingredients

 

$

—

 

 

$

—

 

 

$

—

 

 

$

107

 

 

$

107

 

 

Note 4

Restructuring and related impairment charges

 

$

—

 

 

$

10,535

 

 

$

20,100

 

 

$

4,848

 

 

$

35,483

 

 

Note 5

Pension plan settlement and curtailment

   loss (gain)

 

$

116,207

 

 

$

—

 

 

$

(7,153

)

 

$

(297

)

 

$

108,757

 

 

Note 21

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