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Significant Accounting Policies (Tables)

12 Months Ended

Jun. 29, 2017

Depreciation Expense for Last Three Fiscal Years

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


	Year Ended June 29, 2017		Year Ended June 30, 2016		Year Ended June 25, 2015
Depreciation expense	$	14,190	$	14,875	$	14,117

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 29, 2017			Year ended June 30, 2016			Year ended June 25, 2015
Gross rental income	$	2,003		$	1,898		$	1,792
Rental (expense), net		(1,311	)		(1,371	)		(3,062	)

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 28, 2018	$	1,961
June 27, 2019		1,859
June 25, 2020		1,765
June 24, 2021		1,534
June 30, 2022		1,314
Thereafter		3,096

	$	11,529

Carrying Value and Fair Value Estimate of Current and Long-Term Debt

The following table summarizes the carrying value and fair value estimate of our current and long-term debt, excluding unamortized debt issuance costs:


	June 29, 2017		June 30, 2016
Carrying value of long-term debt:	$	28,808	$	32,290
Fair value of long-term debt:		29,316		35,479

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 29, 2017		Year ended June 30, 2016		Year ended June 25, 2015
Marketing and advertising expense	$	10,064	$	11,569	$	11,069

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 29, 2017		Year ended June 30, 2016		Year ended June 25, 2015
Shipping and handling costs	$	17,682	$	16,686	$	17,699

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 29, 2017		Year ended June 30, 2016		Year ended June 25, 2015
Research and development expense	$	658	$	653	$	979

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 29, 2017		Year ended June 30, 2016		Year ended June 25, 2015
Weighted average number of shares outstanding — basic		11,317,149		11,233,975		11,150,658
Effect of dilutive securities:
Stock options and restricted stock units		86,456		98,949		97,601

Weighted average number of shares outstanding — diluted		11,403,605		11,332,924		11,248,259

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

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


	Year ended June 29, 2017		Year ended June 30, 2016		Year ended June 25, 2015
Weighted average number of anti-dilutive shares:		1,068		—		—
Weighted average exercise price per share:	$	65.35	$	—	$	—