XML 19 R9.htm IDEA: XBRL DOCUMENT

Basis Of Presentation Policies	6 Months Ended
Basis Of Presentation Policies	Oct. 01, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis Of Presentation	1. Unaudited Condensed Consolidated Financial Statements In the opinion of management, the accompanying unaudited condensed consolidated financial statements contain all adjustments, which are normal and recurring in nature, necessary to present fairly the financial position of Seneca Foods Corporation (the “Company”) as of October 1, 2016 and results of its operations and its cash flows for the interim periods presented. All significant intercompany transactions and accounts have been eliminated in consolidation. The March 31, 2016 balance sheet was derived from the audited consolidated financial statements. The results of operations for the three and six month periods ended October 1, 2016 are not necessarily indicative of the results to be expected for the full year. During the six months ended October 1, 2016, the Company sold $54,146,000 of Green Giant finished goods inventory to B&G Foods, Inc. for cash, on a bill and hold basis, as compared to $32,765,000 for the six months ended September 26, 2015. Under the terms of the bill and hold agreement, title to the specified inventory transferred to B&G. The Company believes it has met the criteria required for bill and hold treatment. The accounting policies followed by the Company are set forth in Note 1 to the Company's Consolidated Financial Statements in the Company’s 2016 Annual Report on Form 10-K. Other footnote disclosures normally included in annual financial statements prepared in accordance with accounting principles generally accepted in the United States have been condensed or omitted. These unaudited condensed consolidated financial statements should be read in conjunction with the financial statements and notes included in the Company's 2016 Annual Report on Form 10-K. All references to years are fiscal years ended or ending March 31 unless otherwise indicated. Certain percentage tables may not foot due to rounding. Reclassifications—Certain previously reported amounts have been reclassified to conform to the current period classification.