XML 72 R20.htm IDEA: XBRL DOCUMENT v2.4.0.8
Organization and Basis of Presentation (Policies)
3 Months Ended
Mar. 29, 2014
Accounting Policies [Abstract]  
Book Overdrafts
Book Overdrafts
Book overdrafts of $380,092 and $347,837 as of March 29, 2014 and December 28, 2013, respectively, represent checks issued on disbursement bank accounts but not yet paid by such banks. These amounts are classified as accounts payable in our consolidated balance sheet. We typically fund these overdrafts through normal collections of funds or transfers from other bank balances at other financial institutions. Under the terms of our facilities with the banks, the respective financial institutions are not legally obligated to honor the book overdraft balances as of March 29, 2014 and December 28, 2013, or any balance on any given date.
Trade Accounts Receivable Factoring Programs
Trade Accounts Receivable Factoring Programs
We have several uncommitted factoring programs under which trade accounts receivable of two large customers may be sold, without recourse, to financial institutions. Available capacity under these programs is dependent on the amount of trade accounts receivable already sold into these programs and the financial institutions’ willingness to purchase such receivables. At March 29, 2014 and December 28, 2013, we had a total of $211,261, and $381,451, respectively, of trade accounts receivable sold to and held by financial institutions under these programs. Factoring fees of $956 and $532 incurred for the thirteen weeks ended March 29, 2014 and March 30, 2013, respectively, related to the sale of trade accounts receivable under these facilities are included in “other” in the other expense (income) section of our consolidated statement of income.