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Note O - Segment Reporting | 12 Months Ended
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Sep. 26, 2020
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 and ICEE Squeeze-Up Tubes and MARY B's biscuits. Within the retail supermarket channel, our frozen and prepackaged products are purchased by the consumer for consumption at home. Frozen Beverages The Company markets frozen beverages primarily under the names ICEE, SLUSH PUPPIE and PARROT ICE which are sold primarily 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. Due to a change in management and the reporting of our MARY B’s biscuit operations, which had sales and operating income of $25,316,000 and $1,584,000, respectively, in our 2019 fiscal year, we have reclassified the operations from our Food Service segment to our Retail Supermarket segment, which is reflected in all periods reported. Information regarding the operations in these three reportable segments is as follows:
|  | September 26, |  |  | September 28, |  |  | September 29, |
|  | 2020 |  |  | 2019 |  |  | 2018 |
|  | (52 weeks) |  |  | (52 weeks) |  |  | (52 weeks) |
|  | (in thousands) |
Sales to External Customers: |  |  |  |  |  |  |  |  |  |  |  |
Food Service |  |  |  |  |  |  |  |  |  |  |  |
Soft pretzels |  | $ | 150,786 |  |  | $ | 209,227 |  |  | $ | 208,544 |
Frozen juices and ices |  |  | 35,176 |  |  |  | 43,672 |  |  |  | 42,364 |
Churros |  |  | 46,881 |  |  |  | 65,976 |  |  |  | 61,726 |
Handhelds |  |  | 36,088 |  |  |  | 31,685 |  |  |  | 38,928 |
Bakery |  |  | 332,514 |  |  |  | 359,020 |  |  |  | 344,838 |
Other |  |  | 17,448 |  |  |  | 26,407 |  |  |  | 22,991 |
Total Food Service |  | $ | 618,893 |  |  | $ | 735,987 |  |  | $ | 719,391 |
Retail Supermarket |  |  |  |  |  |  |  |  |  |  |  |
Soft pretzels |  | $ | 49,157 |  |  | $ | 36,264 |  |  | $ | 36,438 |
Frozen juices and ices |  |  | 88,743 |  |  |  | 73,751 |  |  |  | 74,435 |
Biscuits |  |  | 28,317 |  |  |  | 25,316 |  |  |  | 26,553 |
Handhelds |  |  | 12,303 |  |  |  | 10,902 |  |  |  | 12,419 |
Coupon redemption |  |  | (3,569 | ) |  |  | (3,596 | ) |  |  | (4,439 | )
Other |  |  | 2,214 |  |  |  | 1,955 |  |  |  | 2,086 |
Total Retail Supermarket |  | $ | 177,165 |  |  | $ | 144,592 |  |  | $ | 147,492 |
Frozen Beverages |  |  |  |  |  |  |  |  |  |  |  |
Beverages |  | $ | 107,004 |  |  | $ | 171,820 |  |  | $ | 160,937 |
Repair and maintenance service |  |  | 83,420 |  |  |  | 85,834 |  |  |  | 78,805 |
Machines revenue |  |  | 33,986 |  |  |  | 45,811 |  |  |  | 28,652 |
Other |  |  | 1,570 |  |  |  | 2,143 |  |  |  | 2,988 |
Total Frozen Beverages |  | $ | 225,980 |  |  | $ | 305,608 |  |  | $ | 271,382 |
Consolidated Sales |  | $ | 1,022,038 |  |  | $ | 1,186,187 |  |  | $ | 1,138,265 |
Depreciation and Amortization: |  |  |  |  |  |  |  |  |  |  |  |
Food Service |  | $ | 28,111 |  |  | $ | 26,978 |  |  | $ | 25,983 |
Retail Supermarket |  |  | 1,577 |  |  |  | 1,418 |  |  |  | 1,313 |
Frozen Beverages |  |  | 23,360 |  |  |  | 20,214 |  |  |  | 19,181 |
Total Depreciation and Amortization |  | $ | 53,048 |  |  | $ | 48,610 |  |  | $ | 46,477 |
Operating Income: |  |  |  |  |  |  |  |  |  |  |  |
Food Service |  | $ | 6,458 |  |  | $ | 76,546 |  |  | $ | 71,285 |
Retail Supermarket |  |  | 23,202 |  |  |  | 10,460 |  |  |  | 11,075 |
Frozen Beverages |  |  | (12,466 | ) |  |  | 29,950 |  |  |  | 28,415 |
Total Operating Income |  | $ | 17,194 |  |  | $ | 116,956 |  |  | $ | 110,775 |
Capital Expenditures: |  |  |  |  |  |  |  |  |  |  |  |
Food Service |  | $ | 34,798 |  |  | $ | 29,197 |  |  | $ | 36,325 |
Retail Supermarket |  |  | 1,763 |  |  |  | 1,979 |  |  |  | 928 |
Frozen Beverages |  |  | 21,256 |  |  |  | 25,952 |  |  |  | 22,769 |
Total Capital Expenditures |  | $ | 57,817 |  |  | $ | 57,128 |  |  | $ | 60,022 |
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Food Service |  | $ | 738,033 |  |  | $ | 766,081 |  |  | $ | 693,098 |
Retail Supermarket |  |  | 31,704 |  |  |  | 29,369 |  |  |  | 27,586 |
Frozen Beverages |  |  | 286,816 |  |  |  | 223,889 |  |  |  | 217,549 |
Total Assets |  | $ | 1,056,553 |  |  | $ | 1,019,339 |  |  | $ | 938,233 |

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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/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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