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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Jun. 29, 2023
Jun. 30, 2022
Jun. 24, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 62,857 $ 61,787 $ 59,741
Depreciation and amortization 20,513 18,286 18,308
Loss (gain) on disposition of properties, net 281 (1,753) (2,717)
Deferred income tax expense (1,115) 551 840
Stock-based compensation expense 3,565 3,565 2,908
Loss on previously held equity interest 1,000 0 0
Change in assets and liabilities:      
Accounts receivable, net (3,123) (3,277) (9,391)
Inventories 32,159 (56,857) 24,070
Prepaid expenses and other current assets 1,471 285 (253)
Accounts payable (5,036) (94) 11,442
Accrued expenses 10,915 (4,641) (1,487)
Income taxes receivable/payable (104) (1,841) (2,302)
Other long-term liabilities 4,618 (964) (765)
Other long-term assets (4,653) 1,745 1,481
Other, net 1,307 2,812 2,822
Net cash provided by operating activities 124,655 19,604 104,697
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchases of property, plant and equipment (20,732) (17,754) (25,176)
Acquisition of Just the Cheese brand (3,500) 0 0
Proceeds from insurance recoveries 0 0 2,506
Proceeds from dispositions of assets, net 1 3,950 299
Proceeds from the sale of life insurance policies 0 3,225 0
Other, net (56) (797) (579)
Net cash used in investing activities (24,287) (11,376) (22,950)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Net short-term (repayments) borrowings (40,439) 31,786 (18,355)
Principal payments on long-term debt (3,154) (3,822) (5,309)
Increase (decrease) in bank overdraft 71 (879) (948)
Dividends paid (54,934) (34,534) (57,463)
Taxes paid related to net share settlement of equity awards (379) (1,036) (535)
Net cash used in financing activities (98,835) (8,485) (82,610)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 1,533 (257) (863)
Cash and cash equivalents, beginning of period 415 672 1,535
Cash and cash equivalents, end of period 1,948 415 672
Interest paid 2,116 1,742 1,319
Income taxes paid, excluding refunds of $139, $545, and $18, respectively $ 23,427 $ 21,278 $ 21,967