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Unaudited Quarterly Financial Information (Tables)
 12 Months Ended
Dec. 29, 2018
Quarterly Financial Information Disclosure [Abstract]  
Results of Operations for Each Quarter

Results of operations for each of the four quarters in the respective fiscal years are as follows. Each quarter represents a period of twelve weeks, except the first quarter, which includes sixteen weeks (amounts in thousands, except per share data):

 

 

 

 

 

First Quarter**

 

 

Second Quarter**

 

 

Third Quarter**

 

 

Fourth Quarter

 

Sales

 

2018

 

$

1,206,453

 

 

$

941,283

 

 

$

923,449

 

 

$

880,667

 

 

 

2017

 

$

1,187,649

 

 

$

926,639

 

 

$

932,822

 

 

$

873,623

 

Materials, supplies, labor and other production costs

   (exclusive of depreciation and amortization

   shown separately)*

 

2018

 

$

625,122

 

 

$

488,871

 

 

$

485,680

 

 

$

467,155

 

 

 

2017

 

$

608,068

 

 

$

468,246

 

 

$

476,264

 

 

$

456,895

 

Net income (loss)

 

2018

 

$

51,247

 

 

$

45,442

 

 

$

39,630

 

 

$

20,841

 

 

 

2017

 

$

60,418

 

 

$

44,740

 

 

$

(33,571

)

 

$

78,533

 

Basic net income (loss) per share

 

2018

 

$

0.24

 

 

$

0.22

 

 

$

0.19

 

 

$

0.10

 

 

 

2017

 

$

0.29

 

 

$

0.21

 

 

$

(0.16

)

 

$

0.37

 

Diluted net income (loss) per share

 

2018

 

$

0.24

 

 

$

0.21

 

 

$

0.19

 

 

$

0.10

 

 

 

2017

 

$

0.29

 

 

$

0.21

 

 

$

(0.16

)

 

$

0.37

 

 

*

The company does not report gross margin.  This line item presents our material, supplies, labor and other production costs (exclusive of depreciation and amortization shown separately) under an alternative presentation.

The table below presents financial results that impact comparability, by quarter, for fiscal 2018 (amounts in thousands):

 

Items presented separately on the Consolidated

Statements of Income

 

First

Quarter

 

 

Second

Quarter

 

 

Third

Quarter

 

 

Fourth Quarter

 

 

Fiscal 2018

 

 

Footnote

Loss (recovery) on inferior ingredients

 

$

—

 

 

$

3,884

 

 

$

(1,891

)

 

$

1,219

 

 

$

3,212

 

 

Note 5

Restructuring and related impairment charges

 

$

1,259

 

 

$

801

 

 

$

497

 

 

$

7,210

 

 

$

9,767

 

 

Note 6

Multi-employer pension plan withdrawal costs

 

$

2,322

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

2,322

 

 

Note 22

Pension plan settlement loss

 

$

4,668

 

 

$

1,035

 

 

$

930

 

 

$

1,148

 

 

$

7,781

 

 

Note 22

Impairment of assets

 

$

2,483

 

 

$

—

 

 

$

—

 

 

$

3,516

 

 

$

5,999

 

 

Note 2,13

 

The table below presents financial results that impact comparability, by quarter, for fiscal 2017 (amounts in thousands):

 

Items presented separately on the Consolidated

Statements of Income

 

First

Quarter

 

 

Second

Quarter

 

 

Third

Quarter

 

 

Fourth Quarter

 

 

Fiscal 2017

 

 

Footnote

Gain on divestiture

 

$

(28,875

)

 

$

—

 

 

$

—

 

 

$

—

 

 

$

(28,875

)

 

Note 7

Restructuring and related impairment charges

 

$

—

 

 

$

—

 

 

$

100,549

 

 

$

3,581

 

 

$

104,130

 

 

Note 6

Multi-employer pension plan withdrawal costs

 

$

—

 

 

$

—

 

 

$

18,268

 

 

$

—

 

 

$

18,268

 

 

Note 22

Pension plan settlement loss

 

$

—

 

 

$

—

 

 

$

3,030

 

 

$

1,619

 

 

$

4,649

 

 

Note 22

Income tax benefit resulting from tax reform

 

$

—

 

 

$

—

 

 

$

—

 

 

$

(48,160

)

 

$

(48,160

)

 

Note 23