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Unaudited Quarterly Financial Information (Tables)
 12 Months Ended
Jan. 01, 2022
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. For Fiscal 2021, each quarter represents a period of twelve weeks, except the first quarter, which includes sixteen weeks.  For Fiscal 2020, first quarter consisted of sixteen weeks, second and third quarters twelve weeks, and fourth quarter thirteen weeks. (amounts in thousands, except per share data):

 

 

 

 

 

First Quarter

 

 

Second Quarter

 

 

Third Quarter

 

 

Fourth Quarter

 

Sales

 

2021

 

$

1,302,168

 

 

$

1,017,309

 

 

$

1,027,800

 

 

$

983,490

 

 

 

2020

 

$

1,349,444

 

 

$

1,025,861

 

 

$

989,650

 

 

$

1,023,036

 

Materials, supplies, labor and other production costs

   (exclusive of depreciation and amortization

   shown separately)*

 

2021

 

$

643,576

 

 

$

504,062

 

 

$

515,078

 

 

$

512,531

 

 

 

2020

 

$

670,873

 

 

$

506,033

 

 

$

497,659

 

 

$

521,577

 

Net income (loss)

 

2021

 

$

71,655

 

 

$

56,358

 

 

$

38,852

 

 

$

39,322

 

 

 

2020

 

$

(5,772

)

 

$

57,919

 

 

$

44,347

 

 

$

55,824

 

Basic net income (loss) per share

 

2021

 

$

0.34

 

 

$

0.27

 

 

$

0.18

 

 

$

0.19

 

 

 

2020

 

$

(0.03

)

 

$

0.27

 

 

$

0.21

 

 

$

0.26

 

Diluted net income (loss) per share

 

2021

 

$

0.34

 

 

$

0.26

 

 

$

0.18

 

 

$

0.18

 

 

 

2020

 

$

(0.03

)

 

$

0.27

 

 

$

0.21

 

 

$

0.26

 

 

*

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 2021 (amounts in thousands):

 

Items presented separately on the Consolidated

Statements of Income

 

First

Quarter

 

 

Second

Quarter

 

 

Third

Quarter

 

 

Fourth Quarter

 

 

Fiscal 2021

 

 

Footnote

Loss (recovery) on inferior ingredients

 

$

122

 

 

$

—

 

 

$

(950

)

 

$

1,772

 

 

$

944

 

 

Note 4

Multi-employer pension plan withdrawal costs

 

$

—

 

 

$

—

 

 

$

3,300

 

 

$

—

 

 

$

3,300

 

 

Note 20

Pension plan settlement loss

 

$

—

 

 

$

—

 

 

$

—

 

 

$

403

 

 

$

403

 

 

Note 20

The table below presents financial results that impact comparability, by quarter, for Fiscal 2020 (amounts in thousands):

 

Items presented separately on the Consolidated

Statements of Income

 

First

Quarter

 

 

Second

Quarter

 

 

Third

Quarter

 

 

Fourth Quarter

 

 

Fiscal 2020

 

 

Footnote

Loss on inferior ingredients

 

$

—

 

 

$

—

 

 

$

—

 

 

$

107

 

 

$

107

 

 

Note 4

Restructuring and related impairment charges

 

$

—

 

 

$

10,535

 

 

$

20,100

 

 

$

4,848

 

 

$

35,483

 

 

Note 5

Pension plan settlement and curtailment

   loss (gain)

 

$

116,207

 

 

$

—

 

 

$

(7,153

)

 

$

(297

)

 

$

108,757

 

 

Note 20