XML 27 R14.htm IDEA: XBRL DOCUMENT v3.21.2

GENERAL (Tables)

6 Months Ended

Sep. 25, 2021

Accounting Policies [Abstract]

Schedule of Weighted Average Number of Shares

For the second quarter of fiscal years 2022 and 2021, the net additional common stock equivalents had no effect on the calculation of diluted earnings per share. For the first six months of fiscal year 2022, the net additional common stock had a ($0.02) effect on the calculation of diluted earnings per share. For the first six months of fiscal year 2021, the net additional common stock had no effect on the calculation of diluted earnings per share. The average shares outstanding used to compute basic and diluted earnings per share are as follows (amounts in thousands):

		Second Quarter Ended				Six Months Ended
		September 25,		September 26,		September 25,		September 26,
		2021		2020		2021		2020
Average Shares Outstanding – Basic		7,482		7,417		7,473		7,405
Effect of Dilutive Common Stock Equivalents		113		132		105		120
Average Shares Outstanding – Diluted		7,595		7,549		7,578		7,525
Anti-dilutive Common Stock Equivalents		111		38		131		56

Schedule of Goodwill and Intangible Assets

Intangible assets, namely customer base and covenants not to compete, represent an allocation of purchase price to identifiable intangible assets of an acquired business. The Company estimates the fair value of its reporting units using the fair market value measurement requirement. Intangible assets are evaluated for impairment when events or changes in business circumstances indicate that the carrying amount of the assets may not be fully recoverable. A summary of changes in the Company’s goodwill and intangible assets is as follows (in thousands):

		Goodwill									Intangible Assets
		Distribution			Service			Total			Distribution			Service			Total
Net Book Value as of March 27, 2021		$	11,458		$	31,814		$	43,272		$	920		$	6,593		$	7,513
Additions			-			16,206			16,206			-			6,690			6,690
Amortization			-			-			-			(136	)		(1,213	)		(1,349	)
Currency Translation Adjustment			-			(37	)		(37	)		-			(101	)		(101	)
Net Book Value as of September 25, 2021		$	11,458		$	47,983		$	59,441		$	784		$	11,969		$	12,753

X

- References

No definition available.

+ Details

Name:	us-gaap_AccountingPoliciesAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of goodwill and intangible assets, which may be broken down by segment or major class.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

+ Details

Name:	us-gaap_ScheduleOfIntangibleAssetsAndGoodwillTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the weighted average number of shares used in calculating basic net earnings per share (or unit) and diluted earnings per share (or unit).

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257

+ Details

Name:	us-gaap_ScheduleOfWeightedAverageNumberOfSharesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration