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Significant Accounting Policies (Tables)

12 Months Ended

Jun. 27, 2019

Accounting Policies [Abstract]

Depreciation Expense for Last Three Fiscal Years

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

		Year Ended June 27,  2019			Year Ended June 28, 2018				Year Ended June 29, 2017
Depreciation expense		$	14,017		$	13,414			$	14,190

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 27, 2019				Year ended June 28, 2018				Year ended June 29, 2017
Gross rental income		$	1,978			$	1,988			$	2,003
Rental (expense), net (1)			(1,104	)			(1,420	)			(1,311	)

(1) Includes annual depreciation expense of approximately $800.

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 25, 2020		$	2,015
June 24, 2021			1,816
June 30, 2022			1,599
June 29, 2023			1,618
June 27, 2024			1,638
Thereafter			2,319
		$	11,005

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 27, 2019				June 28, 2018
Carrying value of long-term debt:		$	27,798			$	34,649
Fair value of long-term debt:			27,720				33,482

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 27, 2019				Year ended June 28, 2018				Year ended June 29, 2017
Marketing and advertising expense		$	11,936			$	11,290			$	10,064

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 27, 2019				Year ended June 28, 2018				Year ended June 29, 2017
Shipping and handling costs		$	23,086			$	20,418			$	17,682

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 27, 2019				Year ended June 28, 2018				Year ended June 29, 2017
Research and development expense		$	892			$	701			$	658

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 27, 2019				Year ended June 28, 2018				Year ended June 29, 2017
Weighted average number of shares outstanding — basic			11,430,174				11,383,080				11,317,149
Effect of dilutive securities:
Stock options and restricted stock units			71,238				66,306				86,456
Weighted average number of shares outstanding — diluted			11,501,412				11,449,386				11,403,605

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 27, 2019				Year ended June 28, 2018				Year ended June 29, 2017
Weighted average number of anti-dilutive shares:			—				—				1,068
Weighted average exercise price per share:		$	—			$	—			$	65.35

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Tabular disclosure of securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) in the future that were not included in the computation of diluted EPS because to do so would increase EPS amounts or decrease loss per share amounts for the period presented, by antidilutive securities.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

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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).

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