XML 23 R8.htm IDEA: XBRL DOCUMENT v3.20.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Jun. 25, 2020
Jun. 27, 2019
Jun. 28, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 54,110 $ 39,466 $ 32,500
Depreciation and amortization 17,934 17,045 15,430
(Gain) loss on disposition of properties, net (844) (164) 480
Deferred income tax expense (benefit) 104 (298) 3,664
Stock-based compensation expense 2,472 2,644 2,796
Change in assets and liabilities, net of Acquisition:      
Accounts receivable, net 4,015 4,447 1,751
Inventories (15,044) 17,338 10,015
Prepaid expenses and other current assets (2,668) (470) (1,074)
Accounts payable (6,721) (16,958) 8,876
Accrued expenses 2,898 15,784 (8,598)
Income taxes receivable/payable 4,154 2,348 (2,659)
Other long-term liabilities (887) 711 501
Other long-term assets 1,749 (404) 375
Other, net 2,341 1,970 2,097
Net cash provided by operating activities 63,613 83,459 66,154
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchases of property, plant and equipment (15,022) (15,075) (13,229)
Acquisition of Squirrel Brand L.P.     (21,727)
Proceeds from insurance recoveries 1,109 429  
Other, net (136) 32 (12)
Net cash used in investing activities (14,049) (14,614) (34,968)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Net short-term borrowings (repayments) 27,008 (31,278) 1,822
Debt issue costs (459)    
Principal payments on long-term debt (7,739) (6,851) (5,659)
Increase (decrease) in bank overdraft 1,140 (1,161) 1,130
Dividends paid (68,740) (29,074) (28,370)
Proceeds from the exercise of stock options 4 0 16
Taxes paid related to net share settlement of equity awards (834) (339) (631)
Net cash used in financing activities (49,620) (68,703) (31,692)
NET (DECREASE) INCREASE IN CASH (56) 142 (506)
Cash, beginning of period 1,591 1,449 1,955
Cash, end of period 1,535 1,591 1,449
Interest paid 1,954 2,872 3,357
Income taxes paid, excluding refunds of $18, $16, and $40, respectively 14,415 $ 10,883 15,846
Supplemental disclosure of non-cash activities:      
Acquisition of Squirrel Brand L.P. through note payable, see Note 7     $ 11,500
Right-of-use assets recognized at ASU No. 2016-02 transition, see Note 3 $ 5,361