Prior Year Reclassification

6 Months Ended

Jun. 27, 2020

Prior Year Reclassification [Abstract]

(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 $2.3 million as of June 29, 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 June 27, 2020.


	13 Weeks Ended
	June 29, 2019
Consolidated Statements of Income	As Previously
(dollars in thousands)	Reported		Reclassifications		As Adjusted
Operating, general and administrative expenses	$	210,801	$	(428)	$	210,373
Income from operations		25,869		428		26,297
Other income (expense)		-		(428)		(428)


	26 Weeks Ended
	June 29, 2019
Consolidated Statements of Income	As Previously
(dollars in thousands)	Reported		Reclassifications		As Adjusted
Operating, general and administrative expenses	$	424,375	$	(2,270)	$	422,105
Income from operations		41,848		2,270		44,118
Other income (expense)		-		(2,270)		(2,270)


	26 Weeks Ended
	June 29, 2019
Consolidated Statements of Cash Flows	As Previously
(dollars in thousands)	Reported		Reclassifications		As Adjusted
Unrealized (gain) loss in SERP	$	-	$	(1,360)	$	(1,360)
Net cash provided by operating activities		78,966		(1,360)		77,606
Change in SERP investment		(3,476)		1,360		(2,116)
Net cash used in investing activities		(48,451)		1,360		(47,091)