XML 44 R30.htm IDEA: XBRL DOCUMENT v3.22.2.2
Significant Accounting Policies (Tables)
 12 Months Ended
Jun. 30, 2022
Accounting Policies [Abstract]  
Depreciation Expense for Last Three Fiscal Years
Depreciation expense for the last three fiscal years is as follows:
 

 
  
Year Ended
June 30,
2022
 
  
Year Ended
June 24,
2021
 
  
Year Ended
June 25,
2020
 
Depreciation expense
    $ 16,390      $ 16,144      $ 15,433  
    
 
 
     
 
 
     
 
 
  
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 10 years
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 30,
2022
 
  
June 24,
2021
 
Carrying value of current and long-term debt:
    $ 10,927      $ 14,749  
Fair value of current and long-term debt:
      11,179        16,210  
Marketing and Advertising Expenses, Recorded in Selling Expenses 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,
2022
 
  
Year Ended
June 24,
2021
 
  
Year Ended
June 25,
2020
 
Marketing and advertising expense
    $ 13,964      $ 9,172      $ 8,997  
    
 
 
     
 
 
     
 
 
  
 
Shipping and Handling Cost for Last Three Fiscal Years Shipping and handling costs for the last three fiscal years were as follows:
 

 
  
Year Ended
June 30,
2022
 
  
Year Ended
June 24,
2021
 
  
Year Ended
June 25,
2020
 
Shipping and handling costs
    $ 33,851      $ 26,456      $ 21,613  
    
 
 
     
 
 
     
 
 
  
Research and Development Expenses for Last Three Fiscal Years Research and development expenses for the last three fiscal years were as follows:
 

 
  
Year Ended
June 30,
2022
 
  
Year Ended
June 24,
2021
 
  
Year Ended
June 25,
2020
 
Research and development expense
    $ 2,833      $ 2,000      $ 999  
    
 
 
     
 
 
     
 
 
  
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,
2022
 
  
Year Ended
June 24,
2021
 
  
Year Ended
June 25,
2020
 
                                                                            
Weighted average number of shares outstanding — basic
   
 
11,537,699
 
   
 
11,500,494
 
   
 
11,463,968
 
Effect of dilutive securities:

    
                   
Stock options and restricted stock units
   
 
56,250
 
   
 
58,786
 
   
 
72,823
 
    
 
 
     
 
 
     
 
 
  
Weighted average number of shares outstanding — diluted
   
 
11,593,949
 
   
 
11,559,280
 
   
 
11,536,791
 
    
 
 
     
 
 
     
 
 
  
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 30,
2022
 
  
Year Ended
June 24,
2021
 
  
Year Ended
June 25,
2020
 
Weighted average number of anti-dilutive shares:
  
 
—  
 
  
 
—  
 
  
 
7,010
 
Weighted average exercise price per share:
  
$
—  
 
  
$
—  
 
  
$
 90.26