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Note O - Segment Reporting | 12 Months Ended
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Sep. 30, 2017
Notes to Financial Statements |
Segment Reporting Disclosure [Text Block] | NOTE O – SEGMENT REPORTING We principally sell our products to the food service and retail supermarket industries. Sales and results of our frozen beverages business are monitored separately from the balance of our food service business because of different distribution and capital requirements. We maintain separate and discrete financial information for the three operating segments mentioned above which is available to our Chief Operating Decision Makers. We have applied no aggregation criteria to any of these operating segments in order to determine reportable segments. Our three reportable segments are Food Service, Retail Supermarkets and Frozen Beverages. All inter-segment net sales and expenses have been eliminated in computing net sales and operating income. These segments are described below. Food Service The primary products sold by the food service segment are soft pretzels, frozen juice treats and desserts, churros, dough enrobed handheld products and baked goods. Our customers in the food service segment include snack bars and food stands in chain, department and discount stores; malls and shopping centers; casual dining restaurants; fast food outlets; stadiums and sports arenas; leisure and theme parks; convenience stores; movie theatres; warehouse club stores; schools, colleges and other institutions. Within the food service industry, our products are purchased by the consumer primarily for consumption at the point-of-sale. Retail Supermarkets The primary products sold to the retail supermarket channel are soft pretzel products – including SUPERPRETZEL, frozen juice treats and desserts including LUIGI’S Real Italian Ice, MINUTE MAID Juice Bars and Soft Frozen Lemonade, WHOLE FRUIT frozen fruit bars and sorbet, PHILLY SWIRL cups and sticks, ICEE Squeeze-Up Tubes and dough enrobed handheld products including PATIO burritos. Within the retail supermarket channel, our frozen and prepackaged products are purchased by the consumer for consumption at home. Frozen Beverages We sell frozen beverages to the food service industry primarily under the names ICEE, SLUSH PUPPIE and PARROT ICE in the United States, Mexico and Canada. We also provide repair and maintenance service to customers for customers’ owned equipment. The Chief Operating Decision Maker for Food Service and Retail Supermarkets and the Chief Operating Decision Maker for Frozen Beverages monthly review detailed operating income statements and sales reports in order to assess performance and allocate resources to each individual segment. Sales and operating income are key variables monitored by the Chief Operating Decision Makers and management when determining each segment’s and the company’s financial condition and operating performance. In addition, the Chief Operating Decision Makers review and evaluate depreciation, capital spending and assets of each segment on a quarterly basis to monitor cash flow and asset needs of each segment. Information regarding the operations in these three reportable segments is as follows:
|  | Fiscal year ended |
|  | September 30, |  |  | September 24, |  |  | September 26, |
|  | 2017 |  |  | 2016 |  |  | 2015 |
|  | (53 weeks) |  |  | (52 weeks) |  |  | (52 weeks) |
|  |  |  |  |  | (in thousands) |  |  |  |  |
Sales to External Customers: |  |  |  |  |  |  |  |  |  |  |  |
Food Service |  |  |  |  |  |  |  |  |  |  |  |
Soft pretzels |  | $ | 180,138 |  |  | $ | 170,155 |  |  | $ | 168,970 |
Frozen juices and ices |  |  | 49,469 |  |  |  | 51,798 |  |  |  | 54,454 |
Churros |  |  | 62,809 |  |  |  | 57,318 |  |  |  | 56,602 |
Handhelds |  |  | 36,913 |  |  |  | 27,427 |  |  |  | 21,817 |
Bakery |  |  | 351,357 |  |  |  | 294,518 |  |  |  | 301,135 |
Other |  |  | 21,108 |  |  |  | 20,313 |  |  |  | 13,657 |
Total Food Service |  | $ | 701,794 |  |  | $ | 621,529 |  |  | $ | 616,635 |
Retail Supermarket |  |  |  |  |  |  |  |  |  |  |  |
Soft pretzels |  | $ | 35,081 |  |  | $ | 33,279 |  |  | $ | 35,727 |
Frozen juices and ices |  |  | 71,325 |  |  |  | 68,924 |  |  |  | 72,174 |
Handhelds |  |  | 14,892 |  |  |  | 15,347 |  |  |  | 18,957 |
Coupon redemption |  |  | (4,898 | ) |  |  | (4,430 | ) |  |  | (4,725 | )
Other |  |  | 2,847 |  |  |  | 4,469 |  |  |  | 1,244 |
Total Retail Supermarket |  | $ | 119,247 |  |  | $ | 117,589 |  |  | $ | 123,377 |
Frozen Beverages |  |  |  |  |  |  |  |  |  |  |  |
Beverages |  | $ | 160,243 |  |  | $ | 150,118 |  |  | $ | 142,705 |
Repair and maintenance service |  |  | 74,594 |  |  |  | 71,123 |  |  |  | 65,765 |
Machines sales |  |  | 27,073 |  |  |  | 31,155 |  |  |  | 26,413 |
Other |  |  | 1,273 |  |  |  | 1,267 |  |  |  | 1,361 |
Total Frozen Beverages |  | $ | 263,183 |  |  | $ | 253,663 |  |  | $ | 236,244 |
Consolidated Sales |  | $ | 1,084,224 |  |  | $ | 992,781 |  |  | $ | 976,256 |
Depreciation and Amortization: |  |  |  |  |  |  |  |  |  |  |  |
Food Service |  | $ | 24,629 |  |  | $ | 22,912 |  |  | $ | 21,289 |
Retail Supermarket |  |  | 949 |  |  |  | 1,031 |  |  |  | 1,132 |
Frozen Beverages |  |  | 16,867 |  |  |  | 16,180 |  |  |  | 15,850 |
Total Depreciation and Amortization |  | $ | 42,445 |  |  | $ | 40,123 |  |  | $ | 38,271 |
Operating Income: |  |  |  |  |  |  |  |  |  |  |  |
Food Service |  | $ | 81,208 |  |  | $ | 76,539 |  |  | $ | 75,286 |
Retail Supermarket |  |  | 10,627 |  |  |  | 9,618 |  |  |  | 11,020 |
Frozen Beverages |  |  | 26,272 |  |  |  | 26,653 |  |  |  | 24,582 |
Total Operating Income |  | $ | 118,107 |  |  | $ | 112,810 |  |  | $ | 110,888 |
Capital Expenditures: |  |  |  |  |  |  |  |  |  |  |  |
Food Service |  | $ | 44,067 |  |  | $ | 24,759 |  |  | $ | 28,228 |
Retail Supermarket |  |  | 239 |  |  |  | 369 |  |  |  | 112 |
Frozen Beverages |  |  | 27,874 |  |  |  | 23,581 |  |  |  | 20,301 |
Total Capital Expenditures |  | $ | 72,180 |  |  | $ | 48,709 |  |  | $ | 48,641 |
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Food Service |  | $ | 635,709 |  |  | $ | 589,854 |  |  | $ | 543,851 |
Retail Supermarket |  |  | 21,129 |  |  |  | 22,090 |  |  |  | 24,209 |
Frozen Beverages |  |  | 210,390 |  |  |  | 178,543 |  |  |  | 171,609 |
Total Assets |  | $ | 867,228 |  |  | $ | 790,487 |  |  | $ | 739,669 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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