Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2018

Schedule of New Accounting Pronouncements and Changes in Accounting Principles

The adoption of Topic 606 had no significant impact on the Company’s consolidated statement of operations for the three or six months ended June 30, 2018 or the consolidated balance sheet as of June 30, 2018.

The cumulative effect of the changes made to the Company’s consolidated January 1, 2018 balance sheet for the adoption of Topic 606 was as follows (in thousands):



	Balance at December 31, 2017		Adjustments Due to Topic 606			Balance at January 1, 2018
Current assets:
Accounts receivable, net	$	101,012	$	1,000		$	102,012
Inventories	34,345		(531		)	33,814

Current liabilities:
Accounts payable	49,992		103			50,095

Long-term liabilities:
Deferred tax liability	267,771		83			267,854

Stockholders’ equity:
Retained earnings	208,279		198			208,477
Non-controlling interest	342,240		85			342,325

Components of Inventories

The components of inventories are as follows:



(In thousands)	June 30, 2018		December 31, 2017

Ingredients and packaging	$	16,892	$	14,826
Finished goods	19,823		15,471
Inventory in transit to customers	1,476		4,048
	$	38,191	$	34,345

Customer Concentration Risk

The Company has one customer that accounted for 10% or more of the Company’s total net revenue. The percentage of total net revenues for this customer is presented below by segment:



	Three Months Ended				Six Months Ended
(% of Consolidated Net Revenues)	June 30, 2018		June 30, 2017		June 30, 2018		June 30, 2017

Sweet Baked Goods	18.4	%	19.9	%	18.1	%	19.1	%
In-Store Bakery	0.6		0.7		0.6		0.7
Total	19.0	%	20.6	%	18.7	%	19.8	%