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Significant Accounting Policies (Tables)

12 Months Ended

Jun. 30, 2016

Depreciation Expense for Last Three Fiscal Years

Depreciation expense for the last three fiscal years is as follows:


	Year Ended June 30, 2016		Year Ended June 25, 2015		Year Ended June 26, 2014
Depreciation expense	$	14,875	$	14,117	$	13,649

Estimated Useful Lives of Property, Plant and Equipment

Cost is depreciated using the straight-line method over the following estimated useful lives:


Classification	Estimated Useful Lives
Buildings		10 to 40 years
Machinery and equipment		5 to 10 years
Furniture and leasehold improvements		5 to 10 years
Vehicles		3 to 5 years
Computers and software		3 to 5 years

Schedule of Gross Rental Income and Rental (Expense)

The net rental expense from the office building is included in the caption “Rental and miscellaneous expense, net”. Gross rental income and rental (expense), net for the last three fiscal years are as follows:


	Year ended June 30, 2016			Year ended June 25, 2015			Year ended June 26, 2014
Gross rental income	$	1,898		$	1,792		$	1,697
Rental (expense), net		(1,371	)		(3,062	)		(2,798	)

Expected Future Gross Rental Income Under Operating Leases within Office Building

Expected future gross rental income under operating leases within the office building is as follows for the fiscal years ending:


June 29, 2017	$	1,983
June 28, 2018		1,705
June 27, 2019		1,595
June 25, 2020		1,516
June 24, 2021		1,533
Thereafter		4,410

	$	12,742

Carrying Value and Fair Value Estimate of Long Term Debt

The following table summarizes the carrying value and fair value estimate of our long term debt, including current maturities:


	June 30, 2016		June 25, 2015
Carrying value of long-term debt:	$	32,290	$	35,666
Fair value of long-term debt:		35,479		39,377

Marketing and Advertising Expenses, Recorded in Selling Expenses

Marketing and advertising costs are incurred to promote and support branded products in the consumer distribution channel. These costs are generally expensed as incurred, recorded in selling expenses, and were as follows for the last three fiscal years:


	Year ended June 30, 2016		Year ended June 25, 2015		Year ended June 26, 2014
Marketing and advertising expense	$	11,569	$	11,069	$	10,330

Shipping and Handling Cost for Last Three Fiscal Years

Shipping and handling costs, which include freight and other expenses to prepare finished goods for shipment, are included in selling expenses. Shipping and handling costs for the last three fiscal years were as follows:


	Year ended June 30, 2016		Year ended June 25, 2015		Year ended June 26, 2014
Shipping and handling costs	$	16,686	$	17,699	$	17,895

Research and Development Expenses for Last Three Fiscal Years

Research and development expense represents the cost of our research and development personnel and their related expenses and is charged to selling expenses as incurred. Research and development expenses for the last three fiscal years were as follows:


	Year ended June 30, 2016		Year ended June 25, 2015		Year ended June 26, 2014
Research and development expense	$	653	$	979	$	882

Weighted Average Shares Outstanding Used in Computing Basic and Diluted Earnings Per Share

The following table presents the reconciliation of the weighted average shares outstanding used in computing basic and diluted earnings per share:


	Year ended June 30, 2016		Year ended June 25, 2015		Year ended June 26, 2014
Weighted average number of shares outstanding — basic		11,233,975		11,150,658		11,033,310
Effect of dilutive securities:
Stock options and restricted stock units		98,949		97,601		99,037

Weighted average number of shares outstanding — diluted		11,332,924		11,248,259		11,132,347

Summary of Anti-dilutive Stock Options Excluded from Computation of Diluted Earnings Per Share

The following table presents a summary of anti-dilutive stock options excluded from the computation of diluted earnings per share:


	Year ended June 30, 2016		Year ended June 25, 2015		Year ended June 26, 2014
Weighted average number of anti-dilutive shares:		—		—		15,153
Weighted average exercise price:	$	—	$	—	$	25.36