Organization and Summary of Significant Accounting Policies (Tables)

3 Months Ended

Mar. 28, 2015

Operations and Summary of Significant Accounting Policies:

Summary of the valuation assets and liabilities measured at fair value on a recurring basis

The following table summarizes the valuation of our assets and liabilities measured at fair value on a recurring basis (in thousands) at the respective dates set forth below:

		March 28, 2015								December 27, 2014
Balance Sheet Classification		Interest Rate Swaps			Non-qualified Deferred Compensation Plan Investments		Earn-out Contingent Consideration Obligation			Interest Rate Swaps			Non-qualified Deferred Compensation Plan Investments		Earn-out Contingent Consideration Obligation
Other assets	Level 1	$	—		$	505	$	—		$	—		$	697	$	—
Interest rate swaps	Level 2	(326		)	—		—			(349		)	—		—
Accrued liabilities	Level 3	—			—		(245		)	—			—		(246		)
Other liabilities	Level 3	—			—		(1,372		)	—			—		(1,602		)
		$	(326	)	$	505	$	(1,617	)	$	(349	)	$	697	$	(1,848	)

Activity of the fair value of the measurements using unobservable inputs (Level 3 Liabilities)

A summary of the activity of the fair value of the measurements using unobservable inputs (Level 3 Liabilities) for the quarter ended March 28, 2015, is as follows (in thousands):

	Level 3
Balance at December 27, 2014	$	1,848
Earn-out compensation paid for Willamette Valley Fruit Company	(230		)
Earn-out compensation paid for Sin In A Tin	(1		)
Balance at March 28, 2015	$	1,617

Schedule of earnings per common share

Earnings per common share was computed as follows for the quarters ended March 28, 2015 and March 29, 2014 (in thousands, except per share data):

	Quarters Ended
	March 28, 2015			March 29, 2014
Basic Earnings (Loss) Per Share:
Net income	$	(14,635	)	$	1,597
Weighted average number of common shares	19,581			19,437
Earnings (loss) per common share	$	(0.75	)	$	0.08

Diluted Earnings (Loss) Per Share:
Net income	$	(14,635	)	$	1,597
Weighted average number of common shares	19,581			19,437
Incremental shares from assumed conversions of stock options	—			487
Adjusted weighted average number of common shares	19,581			19,924
Earnings (loss) per common share	$	(0.75	)	$	0.08

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

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- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

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