Prior Year Reclassification

3 Months Ended

Mar. 28, 2020

Prior Year Reclassification [Abstract]

Prior Year Reclassification

(8) Prior Year Reclassification

As of December 28, 2019, the Company reclassified non-service components of the Supplemental Executive Retirement Plan (SERP) benefit obligation separately from the service cost component. These non-service components totaling $1.8 million as of March 30, 2019 were reclassified to “Other income (expense)”.  The Company recognizes service cost components in “Operating, general and administrative costs”.

The tables below summarize the effects of the reclassifications of previously reported Consolidated Financial Statements for the fiscal quarter ended March 30, 2019.

	March 30, 2019
Consolidated Statements of Income	As Previously
(dollars in thousands)	Reported		Reclassifications		As Adjusted
Operating, general and administrative expenses	$	213,573	$	(1,841)	$	211,732
Income from operations		15,979		1,841		17,820
Other income (expense)		-		(1,841)		(1,841)

	March 30, 2019
Consolidated Statements of Cash Flows	As Previously
(dollars in thousands)	Reported		Reclassifications		As Adjusted
Unrealized (gain) loss in SERP	$	-	$	(1,008)	$	(1,008)
Net cash provided by operating activities		33,659		(1,008)		32,651
Change in SERP investment		(2,716)		1,008		(1,708)
Net cash used in investing activities		(31,341)		1,008		(30,333)