Summary of Significant Accounting Policies (Tables)

12 Months Ended

Jan. 01, 2022

Sales by Sales Channel Category

Sales by sales channel category are as follows for Fiscal 2021, 2020, and 2019 (amounts in thousands):

	Fiscal 2021		Fiscal 2020		Fiscal 2019
Branded retail	$	2,875,418	$	2,914,072	$	2,478,669
Store branded retail		534,794		607,741		647,056
Non-retail and other		920,555		866,178		998,249
Total	$	4,330,767	$	4,387,991	$	4,123,974

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 2021	$	15,162	$	6,071	$	5,835	$	15,398
Fiscal 2020	$	9,473	$	11,344	$	5,655	$	15,162
Fiscal 2019	$	5,751	$	11,034	$	7,312	$	9,473

Allowance for Trade Accounts Receivable Credit Losses Activity

Activity in the allowance for trade accounts receivable credit losses for Fiscal 2021 and 2020 was as follows (amounts in thousands):

	Beginning Balance		Charged to Expense		Write-Offs and Other			Recoveries and other			Ending Balance
Fiscal 2021	$	4,901	$	596	$	(1,018	)	$	(1,927	)	$	2,552
Fiscal 2020	$	2,089	$	2,875	$	(2,319	)	$	2,256		$	4,901

Weighted Percentage of Sales from Largest Customers

Our largest customer’s, Walmart/Sam’s Club, weighted percent of sales for Fiscal 2021, 2020, and 2019 was as follows:

	Percent of Sales
Fiscal 2021		21.2	%
Fiscal 2020		21.2	%
Fiscal 2019		21.1	%

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	25
Furniture, fixtures and transportation equipment	3	15

Schedule of Depreciation Expense

Depreciation expense, excluding amortization of right-of-use financing leases, for Fiscal 2021, 2020, and 2019 was as follows (amounts in thousands):

	Depreciation expense
Fiscal 2021	$	103,949
Fiscal 2020	$	103,490
Fiscal 2019	$	107,891

Schedule of Total Impairments (Inclusive of Property, Plant and Equipment, Notes Receivable, Spare Parts, and ROU Assets) and Line Item Recorded in Our Consolidated Statements of Income

Total impairments (inclusive of property, plant and equipment, notes receivable, spare parts, and ROU assets) for Fiscal 2020 and 2019, and the line item to which each item is recorded in our Consolidated Statements of Income, are presented below (amounts in thousands):

Restructuring and related impairment charges line item	Fiscal 2020		Fiscal 2019
Plant closings	$	5,747	$	5,133
Line and distribution depot closings		629		356
Spare parts		734		174
Lease impairment charges		9,397		—
Impairment of assets	$	16,507	$	5,663

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 2021	$	1,920	$	16	$	1,652	$	284
Fiscal 2020	$	161	$	3,601	$	1,842	$	1,920
Fiscal 2019	$	143	$	337	$	319	$	161

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 2021	$	1,030	$	—	$	—	$	1,030
Fiscal 2020	$	703	$	—	$	327	$	1,030
Fiscal 2019	$	364	$	—	$	339	$	703