Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 30, 2023

Sales by Sales Channel Category

Sales by sales channel category are as follows for Fiscal 2023, 2022, and 2021 (amounts in thousands):

	Fiscal 2023		Fiscal 2022		Fiscal 2021
Branded retail	$	3,263,277	$	3,139,306	$	2,874,714
Other		1,827,553		1,666,516		1,456,053
Total	$	5,090,830	$	4,805,822	$	4,330,767

Allowance for Doubtful Accounts Activity

Activity in the allowance for doubtful accounts is as follows (amounts in thousands):

	Beginning Balance		Charged to Expense		Write-Offs and Other			Ending Balance
Fiscal 2023	$	18,764	$	8,412	$	6,210		$	33,386
Fiscal 2022	$	15,398	$	8,518	$	(5,152	)	$	18,764
Fiscal 2021	$	15,162	$	6,071	$	(5,835	)	$	15,398

Allowance for Trade Accounts Receivable Credit Losses Activity

Activity in the allowance for trade accounts receivable credit losses for Fiscal 2023, 2022 and 2021 was as follows (amounts in thousands):

	Beginning Balance		Charged to Expense		Write-Offs and Other			Recoveries and other			Ending Balance
Fiscal 2023	$	2,188	$	3,089	$	(2,635	)	$	(572	)	$	2,070
Fiscal 2022	$	2,552	$	2,270	$	(2,721	)	$	87		$	2,188
Fiscal 2021	$	4,901	$	596	$	(1,018	)	$	(1,927	)	$	2,552

Weighted Percentage of Sales from Largest Customers

Our largest customer’s, Walmart/Sam’s Club, weighted percent of sales for Fiscal 2023, 2022, and 2021 was as follows:

	Percent of Sales
Fiscal 2023		22.3	%
Fiscal 2022		21.7	%
Fiscal 2021		21.2	%

Estimated Useful Lives by Property Plant and Equipment Class

The table below presents the range of estimated useful lives by property, plant and equipment class.

	Useful life term (years)
Asset Class	Low	High
Buildings	10	40
Machinery and equipment	3	15
Furniture, fixtures and transportation equipment	3	12

Schedule of Depreciation Expense

Depreciation expense, excluding amortization of right-of-use financing leases, for Fiscal 2023, 2022, and 2021 was as follows (amounts in thousands):

	Depreciation expense
Fiscal 2023	$	117,788
Fiscal 2022	$	108,500
Fiscal 2021	$	103,949

Inventory Valuation Reserve

Summary of Valuation Allowance

Activity in the inventory reserve allowance is as follows (amounts in thousands):

	Beginning Balance		Charged to Expense		Write-Offs and Other			Ending Balance
Fiscal 2023	$	1,036	$	2,376	$	(2,716	)	$	696
Fiscal 2022	$	284	$	3,679	$	(2,927	)	$	1,036
Fiscal 2021	$	1,920	$	16	$	(1,652	)	$	284

Valuation Allowance of Deferred Tax Assets

Summary of Valuation Allowance

The deductions column in the table below presents the amounts reduced in the deferred tax asset valuation allowance that were recorded to, and included as part of, deferred tax expense. The additions column represents amounts that increased the allowance.

Activity in the deferred tax asset valuation allowance is as follows (amounts in thousands):

	Beginning Balance		Deductions		Additions		Ending Balance
Fiscal 2023	$	1,030	$	—	$	556	$	1,586
Fiscal 2022	$	1,030	$	—	$	—	$	1,030
Fiscal 2021	$	1,030	$	—	$	—	$	1,030