0001437749-23-033110 | 10-K | XBRL Viewer

Comprehensive Income (Loss) Note [Text Block]

NOTE O - ACCUMULATED OTHER COMPREHENSIVE LOSS

Changes to the components of accumulated other comprehensive loss are as follows:

	Fiscal Year Ended September 30, 2023
	(in thousands)

	Foreign Currency
	Translation Adjustments

Beginning Balance	$	(13,713	)
Other comprehensive income		3,547
Ending Balance	$	(10,166	)

	Fiscal Year Ended September 24, 2022
	(in thousands)

	Foreign Currency
	Translation Adjustments

Beginning Balance	$	(13,383	)
Other comprehensive (loss)		(330	)
Ending Balance	$	(13,713	)

Note P - Leases - Maturities of Lease Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Sep. 24, 2022
2024, operating leases	$ 20,073
2024, finance leases	237
2025, operating leases	16,312
2025, finance leases	189
2026, operating leases	13,069
2026, finance leases	154
2027, operating leases	11,983
2027, finance leases	153
2028, operating leases	8,806
2028, finance leases	109
Thereafter, operating leases	49,504
Thereafter, finance leases	36
Total minimum payments, operating leases	119,747
Total minimum payments, finance leases	878
Less amount representing interest, operating leases	(25,638)
Less amount representing interest, finance leases	(77)
Present value of lease obligations, operating leases	94,109	$ 56,184
Present value of lease obligations, finance leases	$ 801	$ 378

Note C - Investment Securities - Summary of Securities (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Sep. 24, 2022
Held-to-maturity securities, amortized cost	$ 4,011
Marketable securities available for sale, amortized cost		$ 6,404
Held-to-maturity securities, gross unrealized gains	0
Marketable securities available for sale, gross unrealized gains		46
Held-to-maturity securities, gross unrealized losses	21
Marketable securities available for sale, gross unrealized losses		742
Held-to-maturity securities, fair market value	3,990	3,990
Marketable securities available for sale, fair market value		5,708
Corporate Bond Securities [Member]
Held-to-maturity securities, amortized cost	4,011
Held-to-maturity securities, gross unrealized gains	0
Held-to-maturity securities, gross unrealized losses	21
Held-to-maturity securities, fair market value	$ 3,990
Mutual Funds [Member]
Marketable securities available for sale, amortized cost		3,588
Marketable securities available for sale, gross unrealized gains		0
Marketable securities available for sale, gross unrealized losses		742
Marketable securities available for sale, fair market value		2,846
Preferred Stock [Member]
Marketable securities available for sale, amortized cost		2,816
Marketable securities available for sale, gross unrealized gains		46
Marketable securities available for sale, gross unrealized losses		0
Marketable securities available for sale, fair market value		$ 2,862

Note P - Leases (Details Textual)	Sep. 30, 2023	Sep. 24, 2022	Jun. 24, 2022
Operating Lease, Weighted Average Discount Rate, Percent	4.40%		3.30%
Finance Lease, Weighted Average Discount Rate, Percent	3.90%		3.20%
Operating Lease, Weighted Average Remaining Lease Term	10 years 3 months 18 days	5 years 9 months 18 days
Finance Lease, Weighted Average Remaining Lease Term	4 years 2 months 12 days	3 years 3 months 18 days
Minimum [Member]
Lessee, Operating Lease, Remaining Lease Term	1 month
Lessee, Finance Lease, Remaining Lease Term	1 year
Maximum [Member]
Lessee, Operating Lease, Remaining Lease Term	20 years
Lessee, Finance Lease, Remaining Lease Term	5 years

Note F - Intangible Assets and Goodwill - Goodwill by Reporting Segment (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Sep. 24, 2022
Goodwill	$ 185,070	$ 184,420
Food Service [Member]
Goodwill	124,426	123,776
Retail Supermarket [Member]
Goodwill	4,146	4,146
Frozen Beverages [Member]
Goodwill	$ 56,498	$ 56,498

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

Note G - Long-term Debt

12 Months Ended

Sep. 30, 2023

Debt Disclosure [Text Block]

NOTE G – LONG-TERM DEBT

In December 2021, the Company entered into an amended and restated loan agreement (the “Credit Agreement”) with our existing banks which provided for up to a $50 million revolving credit facility repayable in December 2026.

Interest accrues, at the Company’s election at (i) the BSBY Rate (as defined in the Credit Agreement), plus an applicable margin, based upon the Consolidated Net Leverage Ratio, as defined in the Credit Agreement, or (ii) the Alternate Base Rate (a rate based on the higher of (a) the prime rate announced from time-to-time by the Administrative Agent, (b) the Federal Reserve System’s federal funds rate, plus 0.50% or (c) the Daily BSBY Rate, plus an applicable margin). The Alternate Base Rate is defined in the Credit Agreement.

The Credit Agreement requires the Company to comply with various affirmative and negative covenants, including without limitation (i) covenants to maintain a minimum specified interest coverage ratio and maximum specified net leverage ratio, and (ii) subject to certain exceptions, covenants that prevent or restrict the Company’s ability to pay dividends, engage in certain mergers or acquisitions, make certain investments or loans, incur future indebtedness, alter its capital structure or line of business, prepay subordinated indebtedness, engage in certain transactions with affiliates, or amend its organizational documents. As of September 30, 2023, the Company is in compliance with all financial covenants of the Credit Agreement.

On June 21, 2022, the Company entered into an amendment to the Credit Agreement, the “Amended Credit Agreement” which provided for an incremental increase of $175 million in available borrowings. The Amended Credit Agreement also includes an option to increase the size of the revolving credit facility by up to an amount not to exceed in the aggregate the greater of $225 million or, $50 million plus the Consolidated EBITDA of the Borrowers, subject to the satisfaction of certain terms and conditions.

As of September 30, 2023, $27.0 million was outstanding under the Amended Credit Agreement with a weighted average interest rate of 6.48%. These borrowings have been classified as Long-Term Debt on the Company’s Balance Sheet. As of September 30, 2023, the amount available under the Amended Credit Agreement was $188.2 million, after giving effect to the outstanding letters of credit. As of September 24, 2022, $55.0 million was outstanding under the Credit Agreement. As of September 24, 2022, the amount available under the Amended Agreement was $160.2 million, after giving effect to the outstanding letters of credit.

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Note N - Segment Information (Tables)

12 Months Ended

Sep. 30, 2023

Schedule of Segment Reporting Information, by Segment [Table Text Block]

	September 30,			September 24,			September 25,
	2023			2022			2021
	(53 weeks)			(52 weeks)			(52 weeks)
	(in thousands)
Sales to external customers:
Food Service
Soft pretzels	$	235,572		$	205,752		$	174,977
Frozen novelties		145,425			78,183			44,605
Churros		108,927			88,242			64,916
Handhelds		82,292			92,130			75,627
Bakery		378,149			381,526			342,609
Other		31,475			26,854			22,249
Total Food Service	$	981,840		$	872,687		$	724,983

Retail Supermarket
Soft pretzels	$	60,272		$	61,925		$	54,990
Frozen novelties		115,807			108,911			100,059
Biscuits		25,074			24,695			24,197
Handhelds		16,655			5,640			7,574
Coupon redemption		(2,561	)		(3,713	)		(3,689	)
Other		181			485			1,766
Total Retail Supermarket	$	215,428		$	197,943		$	184,897

Frozen Beverages
Beverages	$	224,655		$	184,063		$	124,498
Repair and maintenance service		95,941			89,840			81,305
Machines revenue		37,933			33,601			26,953
Other		3,032			2,522			1,943
Total Frozen Beverages	$	361,561		$	310,026		$	234,699

Consolidated sales	$	1,558,829		$	1,380,656		$	1,144,579

Depreciation and amortization:
Food Service		39,758		$	29,807		$	26,738
Retail Supermarket		1,966			1,536			1,671
Frozen Beverages		21,417			21,780			20,982
Total depreciation and amortization	$	63,141		$	53,123		$	49,391

Operating Income:
Food Service	$	49,778		$	18,512		$	39,172
Retail Supermarket		9,375			9,487			25,914
Frozen Beverages		50,365			33,800			6,132
Total operating income	$	109,518		$	61,799		$	71,218

Capital expenditures:
Food Service	$	79,388		$	61,738		$	38,558
Retail Supermarket		1,824			8,885			288
Frozen Beverages		23,525			16,668			14,732
Total capital expenditures	$	104,737		$	87,291		$	53,578

Assets:
Food Service	$	903,518		$	893,045		$	799,149
Retail Supermarket		34,232			20,302			31,486
Frozen Beverages		339,486			303,619			291,584
Total assets	$	1,277,236		$	1,216,966		$	1,122,219

Note F - Goodwill and Intangible Assets (Details Textual) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2023	Sep. 24, 2022	Sep. 25, 2021
Impairment of Intangible Assets, Indefinite-Lived (Excluding Goodwill)		$ 1,678	$ 1,010	$ 1,273
Amortization of Intangible Assets		6,500	3,500	2,600
Finite-Lived Intangible Asset, Expected Amortization, Year One	$ 6,200	6,200
Finite-Lived Intangible Asset, Expected Amortization, Year Two	5,600	5,600
Finite-Lived Intangible Asset, Expected Amortization, Year Three	4,600	4,600
Finite-Lived Intangible Asset, Expected Amortization, Year Four	4,200	$ 4,200
Acquired Finite-Lived Intangible Assets, Weighted Average Useful Life		10 years 4 months 24 days
Goodwill, Impairment Loss		$ 0	0	0
Goodwill, Acquired During Period				$ 0
Technology-Based Intangible Assets [Member]
Acquired Finite-Lived Intangible Assets, Weighted Average Useful Life		10 years
Customer Relationships [Member]
Acquired Finite-Lived Intangible Assets, Weighted Average Useful Life		10 years
License and Rights [Member]
Acquired Finite-Lived Intangible Assets, Weighted Average Useful Life		20 years
Franchise Rights [Member]
Acquired Finite-Lived Intangible Assets, Weighted Average Useful Life		10 years
Dippin’ Dots Holding, L.L.C. [Member]
Intangible Assets Acquired		$ 118,200
Goodwill, Acquired During Period		$ 700	$ 62,600
Dippin’ Dots Holding, L.L.C. [Member] \| Customer Relationships [Member]
Acquired Finite-Lived Intangible Assets, Weighted Average Useful Life			10 years
Dippin’ Dots Holding, L.L.C. [Member] \| Franchise Rights [Member]
Acquired Finite-Lived Intangible Assets, Weighted Average Useful Life			10 years
Trade Names [Member]
Impairment of Intangible Assets, Indefinite-Lived (Excluding Goodwill)	1,700
Trade Names [Member] \| Food Service [Member]
Impairment of Intangible Assets, Indefinite-Lived (Excluding Goodwill)	$ 1,700
Minimum [Member]
Finite-Lived Intangible Asset, Useful Life (Year)	2 years	2 years
Maximum [Member]
Finite-Lived Intangible Asset, Useful Life (Year)	20 years	20 years

Note H - Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Sep. 24, 2022
Deferred tax assets:
Vacation accrual	$ 1,215	$ 1,321
Capital loss carry forwards	224	17
Unrealized gains/losses	451	504
Accrued insurance liability	3,511	3,614
Operating lease liabilities	23,996	14,521
Deferred income	44	10
Allowances	2,879	2,598
Inventory capitalization	1,702	1,620
Share-based compensation	1,960	1,680
Net operating loss	940	538
Payroll tax accrual	0	1,142
Bonus accrual	2,282	0
Foreign tax credit	250	404
Total deferred tax assets	39,454	27,969
Valuation allowance	(675)	(521)
Total deferred tax assets, net	38,779	27,448
Deferred tax liabilities:
Amortization of goodwill and other intangible assets	35,363	32,680
Amortization of goodwill and other intangible assets	35,363	32,680
Depreciation of property, plant and equipment	61,185	51,972
Right-of-use assets	22,688	13,058
Accounting method change 481(a)	853	145
Total deferred tax liabilities	120,089	97,855
Total deferred tax liabilities, net	$ 81,310	$ 70,407

Note F - Goodwill and Intangible Assets

12 Months Ended

Sep. 30, 2023

Goodwill and Intangible Assets Disclosure [Text Block]

NOTE F – GOODWILL AND INTANGIBLE ASSETS

Our reportable segments are Food Service, Retail Supermarket and Frozen Beverages.

Intangible Assets

The carrying amount of acquired intangible assets for the reportable segments are as follows:

	September 30, 2023				September 24, 2022
	Gross				Gross
	Carrying		Accumulated		Carrying		Accumulated
	Amount		Amortization		Amount		Amortization

FOOD SERVICE

Indefinite lived intangible assets
Trade names	$	84,194	$	-	$	85,872	$	-

Amortized intangible assets
Non-compete agreements		-		-		670		670
Franchise agreements		8,500		1,063		8,500		212
Customer relationships		22,900		10,080		22,900		7,790
Technology		23,110		2,879		23,110		576
License and rights		1,690		1,565		1,690		1,481
TOTAL FOOD SERVICE	$	140,394	$	15,587	$	142,742	$	10,729

RETAIL SUPERMARKETS

Indefinite lived intangible assets
Trade names	$	11,938	$	-	$	11,938	$	-

Amortized intangible Assets
Trade names		-		-		649		649
Customer relationships		7,687		7,256		7,907		6,693
TOTAL RETAIL SUPERMARKETS	$	19,625	$	7,256	$	20,494	$	7,342


FROZEN BEVERAGES

Indefinite lived intangible assets
Trade names	$	9,315	$	-	$	9,315	$	-
Distribution rights		36,100		-		36,100		-

Amortized intangible assets
Customer relationships		1,439		689		1,439		545
Licenses and rights		1,400		1,212		1,400		1,142
TOTAL FROZEN BEVERAGES	$	48,254	$	1,901	$	48,254	$	1,687

CONSOLIDATED	$	208,273	$	24,744	$	211,490	$	19,758

The gross carrying amount of intangible assets is determined by applying a discounted cash flow model to the future sales and earnings associated with each intangible asset or is set by contract cost. The amortization period used for definite lived intangible assets is set by contract period or by the period over which the bulk of the discounted cash flow is expected to be generated. We currently believe that we will receive the benefit from the use of the trade names and distribution rights classified as indefinite lived intangible assets indefinitely and they are therefore not amortized.

Licenses and rights, customer relationships, franchise agreements, technology and non-compete agreements are being amortized by the straight-line method over periods ranging from 2 to 20 years and amortization expense is reflected throughout operating expenses.

Amortizing and indefinite lived intangibles are reviewed for impairment as events or changes in circumstances occur indicating that the carrying amount of the asset may not be recoverable. Indefinite lived intangibles are also reviewed annually at year end for impairment. Cash flow and sales analyses are used to assess impairment. The estimates of future cash flows and sales involve considerable management judgment and are based upon assumptions about expected future operating performance which include Level 3 inputs such as annual growth rates and discount rates. Assumptions used in these forecasts are consistent with internal planning. The actual cash flows and sales could differ from management’s estimates due to changes in business conditions, operating performance, economic conditions, competition, and consumer preferences.

In connection with our annual impairment assessment conducted during the fourth quarter of 2023, we determined that the carrying amounts of three trade names exceeded their fair value as of September 30, 2023. As a result, the Company recorded an indefinite lived intangible asset impairment charge of $1.7 million in the fourth quarter of 2023. The intangible asset impairment charge is reflected in Intangible asset impairment charges in the Consolidated Statements of Earnings. The $1.7 million intangible asset impairment charge related to trade names in the Food Service segment.

There were no intangible assets acquired in the fiscal year 2023. In fiscal year 2022, intangible assets of $118.2 million were added in the food service segment from the acquisition of Dippin’ Dots in the quarter ended June 25, 2022. There were no intangible assets acquired in the fiscal year 2021.

Aggregate amortization expense of intangible assets for the fiscal years 2023, 2022 and 2021 was $6.5 million, $3.5 million, and $2.6 million, respectively.

Estimated amortization expense for the next five fiscal years is approximately $6.2 million in 2024, $5.6 million in 2025 and 2026, $4.6 million in 2027, and $4.2 million in 2028.

The weighted amortization period of the intangible assets, in total, is 10.4 years. The weighted amortization period by intangible asset class is 10 years for Technology, 10 years for Customer relationships, 20 years for Licenses & rights, and 10 years for Franchise agreements.

Goodwill

The carrying amounts of goodwill for the reportable segments are as follows:

	Food		Retail		Frozen
	Service		Supermarket		Beverages		Total
	(in thousands)
September 30, 2023	$	124,426	$	4,146	$	56,498	$	185,070

September 24, 2022	$	123,776	$	4,146	$	56,498	$	184,420

The carrying value of goodwill is determined based on the excess of the purchase price of acquisitions over the estimated fair value of tangible and intangible assets. Goodwill is not amortized but is evaluated annually at year end by management for impairment. Our impairment analysis for fiscal years 2023, 2022 and 2021 was based on a combination of the income approach, which estimates the fair value of reporting units based on discounted cash flows, and the market approach, which estimates the fair value of reporting units based on comparable market prices and multiples. Under the income approach the Company used a discounted cash flow which requires Level 3 inputs such as: annual growth rates, discount rates based upon the weighted average cost of capital and terminal values based upon current stock market multiples. There were no impairment charges to goodwill in fiscal years 2023, 2022 or 2021.

In fiscal year 2023, goodwill of $0.7 million was added in the food service segment from measurement period adjustments related to the prior year acquisition of Dippin’ Dots. In fiscal year 2022, goodwill of $62.6 million was added in the food service segment from the acquisition of Dippin’ Dots in the quarter ended June 25, 2022. No goodwill was acquired in fiscal years 2021.

Note G - Long-term Debt (Details Textual) - USD ($) $ in Millions	1 Months Ended
	Dec. 31, 2021	Sep. 30, 2023	Sep. 24, 2022	Jun. 21, 2022
The Credit Agreement [Member] \| Federal Funds Rate [Member]
Debt Instrument, Basis Spread on Variable Rate	0.50%
The Credit Agreement [Member] \| Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 50.0
The Amended Credit Agreement [Member]
Long-Term Line of Credit		$ 27.0	$ 55.0
Debt, Weighted Average Interest Rate		6.48%
Line of Credit Facility, Remaining Borrowing Capacity		$ 188.2	$ 160.2
The Amended Credit Agreement [Member] \| Revolving Credit Facility [Member]
Line Of Credit Facility Increase In Maximum Borrowing Capacity				$ 175.0
Line of Credit Facility, Options to Increase Size of Credit Facility, Value 1				225.0
Line of Credit Facility, Options to Increase Size of Credit Facility, Value 2				$ 50.0

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2023	Sep. 24, 2022	Sep. 25, 2021
Operating activities:
Net earnings	$ 78,906	$ 47,235	$ 55,607
Adjustments to reconcile net earnings to net cash provided by operating activities
Depreciation of fixed assets	56,616	49,669	46,781
Amortization of intangibles and deferred costs	6,525	3,454	2,610
Intangible asset impairment charges	1,678	1,010	1,273
(Gains) Losses from disposals of property & equipment	(409)	220	(231)
Share-based compensation	5,318	4,269	4,199
Deferred income taxes	10,935	8,829	(2,896)
(Gain) Loss on marketable securities	(8)	315	(1,026)
Other	323	(95)	77
Changes in assets and liabilities, net of effects from purchase of companies
Decrease (Increase) in accounts receivable	11,399	(32,778)	(35,755)
Decrease (Increase) in inventories	9,475	(49,431)	(14,155)
Decrease (Increase) in prepaid expenses	5,924	(9,343)	9,629
(Decrease) Increase in accounts payable and accrued liabilities	(14,403)	2,708	35,386
Net cash provided by operating activities	172,279	26,062	101,499
Investing activities:
Payments for purchases of companies, net of cash acquired	0	(221,301)	0
Purchases of property, plant and equipment	(104,737)	(87,291)	(53,578)
Proceeds from redemption and sales of marketable securities	9,716	12,026	60,891
Proceeds from disposal of property and equipment	1,781	399	2,435
Other	0	0	191
Net cash (used in) provided by investing activities	(93,240)	(296,167)	9,939
Financing activities:
Proceeds from issuance of stock	15,212	16,160	20,256
Borrowings under credit facility	114,000	125,000	0
Repayment of borrowings under credit facility	(142,000)	(70,000)	0
Payments for debt issuance costs	0	(225)	0
Payments on finance lease obligations	(180)	(279)	(144)
Payment of cash dividend	(53,877)	(48,437)	(44,785)
Net cash (used in) provided by financing activities	(66,845)	22,219	(24,673)
Effect of exchange rates on cash and cash equivalents	2,206	(125)	618
Net increase (decrease) in cash and cash equivalents	14,400	(248,011)	87,383
Cash and cash equivalents at beginning of period	35,181	283,192	195,809
Cash and cash equivalents at end of period	$ 49,581	$ 35,181	$ 283,192

Note J - Capital Stock

12 Months Ended

Sep. 30, 2023

Repurchase Agreements, Resale Agreements, Securities Borrowed, and Securities Loaned Disclosure [Text Block]

NOTE J ‑ CAPITAL STOCK

With the exception of shares withheld to cover taxes associated with the vesting of certain restricted stock units held by officers and employees, we did not purchase any shares of our common stock in our fiscal years ended September 30, 2023, September 24, 2022, and September 25, 2021.

Note E - Property, Plant and Equipment (Tables)

12 Months Ended

Sep. 30, 2023

Property, Plant and Equipment [Table Text Block]

	September 30,		September 24,		Estimated Useful
	2023		2022		Lives (years)
	(in thousands)

Land	$	3,684	$	3,714		-
Buildings		45,538		34,232	15-39.5
Plant machinery and equipment		445,299		374,566	5-20
Marketing equipment		296,482		274,904	5-7
Transportation equipment		14,367		11,685	5
Office equipment		47,393		45,865	3-5
Improvements		51,319		49,331	5-20
Construction in Progress		56,116		65,753		-
		960,198		860,050
Less accumulated depreciation		574,295		524,683
Property, plant and equipment, net	$	385,903	$	335,367

Note D - Inventories

12 Months Ended

Sep. 30, 2023

Inventory Disclosure [Text Block]

NOTE D – INVENTORIES

Inventories consist of the following:

	September 30,		September 24,
	2023		2022
	(in thousands)

Finished goods	$	86,472	$	86,464
Raw materials		30,537		41,505
Packaging materials		12,484		16,637
Equipment parts and other		42,046		35,867
Total inventories	$	171,539	$	180,473

Note H - Income Taxes - Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2023	Sep. 24, 2022	Sep. 25, 2021
Current
U.S. Federal	$ 6,447	$ (374)	$ 13,964
Foreign	6,149	2,854	860
State	4,349	3,210	6,431
Total current expense	16,945	5,690	21,255
Deferred
U.S. Federal	12,134	10,834	(145)
Foreign	232	(394)	(353)
State	(703)	(1,611)	(2,338)
Total deferred (benefit) expense	11,663	8,829	(2,836)
Total expense	$ 28,608	$ 14,519	$ 18,419

Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands	Common Stock Including Additional Paid in Capital [Member]	AOCI Attributable to Parent [Member]	Retained Earnings [Member]	Total
Balance (in shares) at Sep. 26, 2020	18,915,000
Balance at Sep. 26, 2020	$ 49,268	$ (15,587)	$ 775,817	$ 809,498
Issuance of common stock upon exercise of stock options (in shares)	158,000
Issuance of common stock upon exercise of stock options	$ 18,739	0	0	18,739
Issuance of common stock for employee stock purchase plan (in shares)	11,000
Issuance of common stock for employee stock purchase plan	$ 1,391	0	0	1,391
Foreign currency translation adjustment	0	2,204	0	2,204
Dividends declared	0	0	(45,984)	(45,984)
Share-based compensation	4,199	0	0	4,199
Net Earnings	$ 0	0	55,607	55,607
Balance (in shares) at Sep. 25, 2021	19,084,000
Balance at Sep. 25, 2021	$ 73,597	(13,383)	785,440	845,654
Issuance of common stock upon exercise of stock options (in shares)	119,000
Issuance of common stock upon exercise of stock options	$ 14,124	0	0	14,124
Issuance of common stock for employee stock purchase plan (in shares)	16,000
Issuance of common stock for employee stock purchase plan	$ 2,036	0	0	2,036
Foreign currency translation adjustment	0	(330)	0	(330)
Dividends declared	0	0	(49,819)	(49,819)
Share-based compensation	4,269	0	0	4,269
Net Earnings	$ 0	0	47,235	$ 47,235
Balance (in shares) at Sep. 24, 2022	19,219,000			19,219,000
Balance at Sep. 24, 2022	$ 94,026	(13,713)	782,856	$ 863,169
Issuance of common stock upon exercise of stock options (in shares)	96,000
Issuance of common stock upon exercise of stock options	$ 13,111	0	0	13,111
Issuance of common stock for employee stock purchase plan (in shares)	17,000
Issuance of common stock for employee stock purchase plan	$ 2,101	0	0	2,101
Foreign currency translation adjustment	0		0	3,547
Dividends declared	0		(54,634)	(54,634)
Share-based compensation	5,318	0	0	5,318
Net Earnings	$ 0	0	78,906	$ 78,906
Balance (in shares) at Sep. 30, 2023	19,332,000			19,332,000
Balance at Sep. 30, 2023	$ 114,556	$ (10,166)	$ 807,128	$ 911,518

Note Q - Related Parties (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2023	Sep. 24, 2022	Sep. 25, 2021	Jun. 30, 2023
Operating Lease, Right-of-Use Asset	$ 88,868	$ 51,137
Operating Lease, Liability, Current	16,478	13,524
Operating Lease, Liability, Noncurrent	77,631	42,660
NFI [Member]
Operating Lease, Right-of-Use Asset	28,400			$ 28,700
Operating Lease, Liability, Current	500			200
Operating Lease, Liability, Noncurrent	28,500			$ 28,500
NFI [Member] \| Distribution and Shipping Costs [Member]
Related Party Transaction, Amounts of Transaction	55,900	29,500	$ 200
NFI [Member] \| Management Services [Member]
Related Party Transaction, Amounts of Transaction	800	600	$ 200
Related Party [Member]
Accounts Payable, Trade	$ 3,400	$ 2,900

Note Q - Related Parties

12 Months Ended

Sep. 30, 2023

NOTE Q – Related Parties

We have related party expenses for distribution and shipping related costs with NFI Industries, Inc. (“NFI”). Our director, Sidney R. Brown, is CEO and an owner of NFI Industries, Inc. In the fiscal years ended 2023, 2022, and 2021, the Company paid NFI $55.9 million, $29.5 million and $0.2 million, respectively. Of the amounts paid to NFI, the amount related to management services performed by NFI was $0.8 million in fiscal year 2023, $0.6 million in fiscal year 2022, and $0.2 million in fiscal year 2021. The remainder of the costs related to amounts that were passed through to the third-party distribution and shipping vendors that are being managed on the Company’s behalf by NFI. As of September 30, 2023, and September 24, 2022, our consolidated balance sheet included related party trade payables of approximately $3.4 million and $2.9 million, respectively.

In June 2023, the Company began leasing a regional distribution center in Terrell, Texas that was constructed by, and is owned by, a subsidiary of NFI. The distribution center will be operated by NFI for the Company, pursuant to a Distribution Services Agreement. Under the Distribution Services Agreement, NFI will provide logistics and warehouse management services. NFI will continue to perform distribution-related management services for the Company as well. At the lease commencement date, $28.7 million was recorded as an operating right-of-use asset, $0.2 million was recorded as a current operating lease liability, and $28.5 million was recorded as a non-current operating lease liability. As of the year ended September 30, 2023, $28.4 million was recorded as an operating right-of-use asset, $0.5 million was recorded as a current operating lease liability, and $28.5 million was recorded as a non-current operating lease liability. Lease payments totaling $0.2 million were made to NFI during the fiscal year ended September 30, 2023.

All agreements with NFI include terms that are consistent with those that we believe would have been negotiated at an arm’s length with an independent party.

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

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Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual

Note B - Acquisitions (Details Textual) - USD ($)
$ in Thousands

12 Months Ended

15 Months Ended

Jun. 21, 2022

Sep. 30, 2023

Sep. 24, 2022

Sep. 30, 2023

$ 96,000

$ 33,700

Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual

13,000

4,900

Business Combination, Acquisition Related Costs

3,100

Dippin’ Dots Holding, L.L.C. [Member]

Business Acquisition, Percentage of Voting Interests Acquired

100.00%

Payments to Acquire Businesses, Gross

$ 223,600

Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual

95,963

33,734

Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual

13,005

4,859

Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Other Liabilities, Current

700

$ 650

Goodwill, Purchase Accounting Adjustments

$ 700

4,000

(3,397)

^[1]

Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Property, Plant, and Equipment

6,500

6,548

Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Intangibles

2,200

(2,200)

Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Inventory

$ 300

$ (301)

[1]

Goodwill was assigned to our Food Services segment and was primarily attributed to the assembled workforce of the acquired business and to our expectations of favorable growth opportunities in entertainment and amusement locations, theaters, and convenience based on increased synergies that are expected to be achieved from the integration of Dippin’ Dots.

Note A - Summary of Significant Accounting Policies

12 Months Ended

Sep. 30, 2023

Significant Accounting Policies [Text Block]

NOTE A – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

J & J Snack Foods Corp. and Subsidiaries (“the Company”) manufactures, markets and distributes a variety of nutritional snack foods and beverages to the foodservice and retail supermarket industries. A summary of the significant accounting policies consistently applied in the preparation of the accompanying consolidated financial statements follows. Our 2023 fiscal year comprises 53 weeks. All references to 2023 fiscal year refer to that 53-week period. Fiscal years 2022 and 2021 comprised 52 weeks.

1.	Principles of Consolidation

The consolidated financial statements were prepared in accordance with U.S. GAAP. These financial statements include the accounts of J & J Snack Foods Corp. and its wholly-owned subsidiaries. Intercompany balances and transactions have been eliminated in the consolidated financial statements.

2.	Revenue Recognition

We recognize revenue in accordance with ASC 606, “Revenue from Contracts with Customers.”

When Performance Obligations Are Satisfied

A performance obligation is a promise in a contract to transfer a distinct good or service to the customer and is the unit of account for revenue recognition. A contract’s transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied.

The singular performance obligation of our customer contracts for product and machine sales is determined by each individual purchase order and the respective products ordered, with revenue being recognized at a point-in-time when the obligation under the terms of the agreement is satisfied and product control is transferred to our customer. Specifically, control transfers to our customers when the product is delivered to, installed or picked up by our customers based upon applicable shipping terms, as our customers can direct the use and obtain substantially all of the remaining benefits from the product at this point in time. The performance obligations in our customer contracts for product are generally satisfied within 30 days.

The singular performance obligation of our customer contracts for time and material repair and maintenance equipment service is the performance of the repair and maintenance with revenue being recognized at a point-in-time when the repair and maintenance is completed.

The singular performance obligation of our customer repair and maintenance equipment service contracts is the performance of the repair and maintenance with revenue being recognized over the time the service is expected to be performed. Our customers are billed for service contracts in advance of performance and therefore we have a contract liability on our balance sheet.

Significant Payment Terms

In general, within our customer contracts, the purchase order identifies the product, quantity, price, pick-up allowances, payment terms and final delivery terms. Although some payment terms may be more extended, presently the majority of our payment terms are 30 days. As a result, we have used the available practical expedient and, consequently, do not adjust our revenues for the effects of a significant financing component.

Shipping

All amounts billed to customers related to shipping and handling are classified as revenues; therefore, we recognize revenue for shipping and handling fees at the time the products are shipped or when services are performed. The cost of shipping products to the customer is recognized at the time the products are shipped to the customer and our policy is to classify them as Distribution expenses.

Variable Consideration

In addition to fixed contract consideration, our contracts include some form of variable consideration, including sales discounts, trade promotions and certain other sales and consumer incentives, including rebates and coupon redemptions. In general, variable consideration is treated as a reduction in revenue when the related revenue is recognized. Depending on the specific type of variable consideration, we use the most likely amount method to determine the variable consideration. We believe there will be no significant changes to our estimates of variable consideration when any related uncertainties are resolved with our customers. We review and update our estimates and related accruals of variable consideration each period based on historical experience. Our recorded liability for allowances, end-user pricing adjustments and trade spending was approximately $18.9 million at September 30, 2023 and $14.7 million at September 24, 2022.

Warranties & Returns

We provide all customers with a standard or assurance type warranty. Either stated or implied, we provide assurance the related products will comply with all agreed-upon specifications and other warranties provided under the law. No services beyond an assurance warranty are provided to our customers.

We do not grant a general right of return. However, customers may return defective or non-conforming products. Customer remedies may include either a cash refund or an exchange of the product. We do not estimate a right of return and related refund liability as returns of our products are rare.

Contract Balances

Our customers are billed for service contracts in advance of performance and therefore we have a contract liability on our balance sheet as follows:

	Fiscal year ended
	September 30,			September 24,
	2023			2022
	(in thousands)

Beginning Balance	$	4,926		$	1,097
Additions to contract liability		6,802			9,163
Amounts recognized as revenue		(6,422	)		(5,334	)
Ending Balance	$	5,306		$	4,926

Disaggregation of Revenue

See Note N for disaggregation of our net sales by class of similar product and type of customer.

Allowance for Estimated Credit Losses

The Company continuously monitors collections and payments from its customers and maintains a provision for estimated credit losses. The allowance for estimated credit losses considers a number of factors including the age of receivable balances, the history of losses, expectations of future credit losses and the customers’ ability to pay off obligations. The allowance for estimated credit losses was $3.2 million and $2.2 million on September 30, 2023 and September 24, 2022, respectively.

3.	Foreign Currency

Assets and liabilities in foreign currencies are translated into U.S. dollars at the rate of exchange prevailing at the balance sheet date. Revenues and expenses are translated at the average rate of exchange for the period. The cumulative translation adjustment is recorded as a separate component of stockholders’ equity and changes to such are included in comprehensive income.

4.	Use of Estimates

In preparing financial statements in conformity with accounting principles generally accepted in the United States of America, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

5.	Cash Equivalents

Cash equivalents are short-term, highly liquid investments with original maturities of three months or less.

6.	Concentrations and related risks

We maintain cash balances at financial institutions located in various states. We have cash balances at six banks totaling approximately $14 million that is in excess of federally insured limits.

Financial instruments that could potentially subject us to concentrations of credit risk are trade accounts receivable; however, such risks are limited due to the large number of customers comprising our customer base and their dispersion across geographic regions. We have approximately 31 customers with accounts receivable balances of between $1 million and $10 million and five customers with a balance greater than $10 million, with the largest being approximately $24 million.

We have several large customers that account for a significant portion of our sales. Our top ten customers accounted for 43%, 43% and 43% of our sales during fiscal years 2023, 2022 and 2021, respectively, with our largest customer accounting for 9% of our sales in 2023, 8% of our sales in 2022 and 11% of our sales in 2021. Five of the ten customers are food distributors who sell our product to many end users.

About 28% of our employees are covered by collective bargaining agreements.

None of our vendors supplied more than 10% of our ingredients and packaging in 2023, 2022 or 2021.

Virtually all of our accounts receivable are due from trade customers. Credit is extended based on evaluation of our customers’ financial condition and collateral is not required. Accounts receivable payment terms vary and are stated in the financial statements at amounts due from customers net of an allowance for estimated credit losses. At September 30, 2023 and September 24, 2022, our accounts receivables were $198.1 million and $208.2 million, net of an allowance for estimated credit losses of $3.2 million and $2.2 million. Accounts receivable outstanding longer than the payment terms are considered past due. We determine our allowance by considering a number of factors, including the length of time trade accounts receivable are past due, our previous loss history, customers’ current ability to pay their obligations to us, and the condition of the general economy and the industry as a whole. We write off accounts receivable when they become uncollectible, and payments subsequently received on such receivables are credited to the allowance for estimated credit losses.

7.	Inventories

Inventories are valued at the lower of cost (determined by the first-in, first-out method) or net realizable value. We recognize abnormal amounts of idle facilities, freight, handling costs, and spoilage as charges of the current period. Additionally, we allocate fixed production overhead to inventories based on the normal capacity of our production facilities. We calculate normal capacity as the production expected to be achieved over a number of periods or seasons under normal circumstances, taking into account the loss of capacity resulting from planned maintenance. This requires us to use judgment to determine when production is outside the range of expected variation in production (either abnormally low or abnormally high). In periods of abnormally low production (for example, periods in which there is significantly lower demand, labor and material shortages exist, or there is unplanned equipment downtime) the amount of fixed overhead allocated to each unit of production is not increased. However, in periods of abnormally high production the amount of fixed overhead allocated to each unit of production is decreased to assure inventories are not measured above cost.

8.	Investment Securities

We classify our investment securities in one of three categories: held to maturity, trading, or available for sale. We held no investment securities at September 30, 2023. Our investment portfolio at September 24, 2022 consisted of investments classified as held to maturity and available for sale. The securities that we have the positive intent and ability to hold to maturity are classified as held to maturity and are stated at amortized cost. Investments classified as available for sale are reported at fair market value with unrealized gains and losses related to the changes in fair value of the securities recognized in investment income. The mutual funds and preferred stock in our available for sale portfolio do not have contractual maturities; however, we classify them as long-term assets as it is our intent to hold them for a period of over one year, although we may sell some or all of them depending on presently unanticipated needs for liquidity or market conditions. See Note C for further information on our holdings of investment securities.

9.	Depreciation and Amortization

Depreciation of equipment and buildings is provided for by the straight-line method over the assets’ estimated useful lives. We review our equipment and buildings to ensure that they provide economic benefit and are not impaired.

Amortization of leasehold improvements is provided for by the straight-line method over the term of the lease or the assets’ estimated useful lives, whichever is shorter. Licenses and rights, customer relationships, technology, non-compete agreements, and franchise agreements and certain tradenames are being amortized by the straight-line method over periods ranging from 2 to 20 years and amortization expense is reflected throughout operating expenses.

Long-lived assets, including fixed assets and amortizing intangibles, are reviewed for impairment as events or changes in circumstances occur indicating that the carrying amount of the asset may not be recoverable. Indefinite lived intangibles are reviewed annually for impairment. Cash flow and sales analyses are used to assess impairment. The estimates of future cash flows and sales involve considerable management judgment and are based upon assumptions about expected future operating performance. Assumptions used in these forecasts are consistent with internal planning. The actual cash flows and sales could differ from management’s estimates due to changes in business conditions, operating performance, economic conditions, competition, and consumer preferences.

10.

Fair Value of Financial Instruments

The carrying value of our short-term financial instruments, such as accounts receivables and accounts payable, approximate their fair values, based on the short-term maturities of these instruments.

11.

Income Taxes

We account for our income taxes under the liability method. Under the liability method, deferred tax assets and liabilities are determined based on the difference between the financial statement and tax bases of assets and liabilities as measured by the enacted tax rates that will be in effect when these differences reverse. Deferred tax expense is the result of changes in deferred tax assets and liabilities.

Additionally, we recognize a liability for income taxes and associated penalties and interest for tax positions taken or expected to be taken in a tax return which are more likely than not to be overturned by taxing authorities (“uncertain tax positions”). We have not recognized a tax benefit in our financial statements for these uncertain tax positions.

As of September 30, 2023 and September 24, 2022, the total amount of gross unrecognized tax benefits was $0.3 million and $0.3 million, respectively, all of which would impact our effective tax rate over time, if recognized. We recognize interest and penalties related to income tax matters as a part of the provision for income taxes. As of September 30, 2023 and September 24, 2022, we had $0.3 million of accrued interest and penalties. A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:

	(in thousands)

Balance at September 24, 2022	$	343
Additions based on tax positions related to the current year		-
Reductions for tax positions of prior years		-
Settlements		-
Balance at September 30, 2023	$	343

In addition to our federal tax return and tax returns for Mexico and Canada, we file tax returns in all states that have a corporate income tax. Virtually all the returns noted above are open for examination for three to four years.

Our effective tax rate in fiscal 2023 was 26.6%. Our effective tax rate in our fiscal 2022 year was 23.5% and in fiscal 2021 was 24.9%.

12.

Earnings Per Common Share

Basic earnings per common share (“EPS”) excludes dilution and is computed by dividing income available to common shareholders by the weighted average common shares outstanding during the period. Diluted EPS takes into consideration the potential dilution that could occur if securities (stock options) or other contracts to issue common stock were exercised and converted into common stock.

Our calculation of EPS is as follows:

	Fiscal year ended September 30, 2023
	Income		Shares		Per Share
	(Numerator)		(Denominator)		Amount
	(in thousands, except per share amounts)
Basic EPS
Net earnings available to common stockholders	$	78,906		19,257	$	4.10

Effect of dilutive securities
RSU's and options	$	-		67		(0.02	)

Diluted EPS
Net earnings available to common stockholders plus assumed conversions	$	78,906		19,324	$	4.08

252,044 anti-dilutive shares have been excluded in the computation of fiscal year 2023 diluted EPS.

	Fiscal year ended September 24, 2022
	Income		Shares		Per Share
	(Numerator)		(Denominator)		Amount
	(in thousands, except per share amounts)
Basic EPS
Net earnings available to common stockholders	$	47,235		19,148	$	2.47

Effect of dilutive securities
RSU's and options	$	-		65		(0.01	)

Diluted EPS
Net earnings available to common stockholders plus assumed conversions	$	47,235		19,213	$	2.46

287,558 anti-dilutive shares have been excluded in the computation of fiscal year 2022 diluted EPS.

	Fiscal year ended September 25, 2021
	Income		Shares		Per Share
	(Numerator)		(Denominator)		Amount
	(in thousands, except per share amounts)
Basic EPS
Net earnings available to common stockholders	$	55,607		19,013	$	2.92

Effect of dilutive securities
RSU's and options	$	-		120		(0.01	)

Diluted EPS
Net earnings available to common stockholders plus assumed conversions	$	55,607		19,133	$	2.91

284,480 anti-dilutive shares have been excluded in the computation of fiscal year 2021 diluted EPS.

13.

Accounting for Stock-Based Compensation

At September 30, 2023, the Company has two stock-based employee compensation plans. Share-based compensation was recognized as follows:

	Fiscal year ended
	September 30,		September 24,		September 25,
	2023		2022		2021
	(in thousands)

Stock options	$	1,882	$	2,407	$	2,265
Stock purchase plan		555		389		573
Stock issued to outside directors		106		-		44
Service share units issued to employees		1,043		538		93
Performance share units issued to employees		633		-		-
Total share-based compensation	$	4,219	$	3,334	$	2,975

The above compensation is net of tax benefits	$	1,099	$	935	$	1,224

The fair value of each option grant is estimated on the date of grant using the Black-Scholes options-pricing model. No grants of options were made in fiscal 2023. The following weighted average assumptions were used for grants in fiscal 2022 and 2021: expected volatility of 25.8% for both fiscal years; weighted average risk-free interest rates of 0.8% for both fiscal years; dividend rate of 1.6% for fiscal 2022 and 1.4% for fiscal 2021; and expected lives ranging between 4 and 10 years for both fiscal years.

Expected volatility is based on the historical volatility of the price of our common shares over the past 51 months for 5-year options and 10 years for 10-year options. We use historical information to estimate expected life and forfeitures within the valuation model. The expected term of awards represents the period of time that options granted are expected to be outstanding. The risk-free rate for periods within the expected life of the option is based on the U.S. Treasury yield curve in effect at the time of grant. Compensation cost is recognized using a straight-line method over the vesting or service period and is net of estimated forfeitures.

The Company issued 21,864 service share units (“RSU”)’s in fiscal 2023 and 9,200 RSUs in fiscal 2022. Each RSU entitles the awardee to one share of common stock upon vesting. The fair value of the RSU’s was determined based upon the closing price of the Company’s common stock on the date of grant. No such RSU’s were issued in fiscal 2021.

The Company also issued 21,260 performance share units (“PSU”)’s in fiscal 2023 and 8,868 PSUs in fiscal 2022. Each PSU may result in the issuance of up to two shares of common stock upon vesting, dependent upon the level of achievement of the applicable performance goal. The fair value of the PSU’s was determined based upon the closing price of the Company’s common stock on the date of grant. Additionally, the Company applies a quarterly probability assessment in computing this non-cash compensation expense, and any change in estimate is reflected as a cumulative adjustment to expense in the quarter of the change. No such PSU’s were issued in fiscal 2021.

14.

Advertising Costs

Advertising costs are expensed as incurred. Total advertising expense was $9.7 million, $7.0 million, and $4.9 million for the fiscal years 2023, 2022 and 2021, respectively.

15.

Commodity Price Risk Management

Our most significant raw material requirements include flour, packaging, shortening, corn syrup, sugar, juice, cheese, chocolate, and a variety of nuts. We attempt to minimize the effect of future price fluctuations related to the purchase of raw materials primarily through forward purchasing to cover future manufacturing requirements, generally for periods from 1 to 12 months. As of September 30, 2023, we have approximately $125 million of such commitments. Futures contracts are not used in combination with forward purchasing of these raw materials. Our procurement practices are intended to reduce the risk of future price increases, but also may potentially limit the ability to benefit from possible price decreases. At each of the last three fiscal year ends, we did not have any material losses on our purchase commitments.

16.

Research and Development Costs

Research and development costs are expensed as incurred. Total research and development expense was $1.2 million, $0.7 million and $0.6 million for the fiscal years 2023, 2022 and 2021, respectively.

17.

Recent Accounting Pronouncements

In December 2022, the FASB issued ASU No. 2022-06, "Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848", to provide optional guidance to temporarily ease the potential burden in accounting for (or recognizing the effects of) reference rate reform on financial reporting. Preceding the issuance of ASU 2020-04, which established ASC 848, the United Kingdom's Financial Conduct Authority ("FCA") announced that it would no longer need to persuade or compel banks to submit to LIBOR after December 31, 2021. In response, the FASB established December 31, 2022 as the expiration date for ASC 848. In March 2021, the FCA announced the intended cessation date of the overnight 1-, 3-, 6-, and 12-month USD LIBOR would be June 30, 2023. Because the current relief in Topic 848 may not cover a period of time during which a significant number of modifications may take place, this update deferred the sunset date in Topic 848 from December 31, 2022, to December 31, 2024, after which entities will no longer be permitted to apply the relief in Topic 848. This guidance is not expected to have a material impact on our consolidated financial statements and disclosures.

In September 2022, the FASB issued ASU No. 2022-04 “Liabilities – Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations”. This guidance requires annual and interim disclosures for entities that use supplier finance programs in connection with the purchase of goods and services. These amendments are effective for fiscal years beginning after December 15, 2022, except for the amendment on rollforward information, which is effective for fiscal years beginning after December 15, 2023. We are currently assessing the impact of the guidance on our consolidated financial statements and disclosures.

18.

Reclassifications

Certain prior year financial statement amounts have been reclassified to be consistent with the presentation for the current year.

Note M - Cash Flow Information (Tables)

12 Months Ended

Sep. 30, 2023

Schedule of Cash Flow, Supplemental Disclosures [Table Text Block]

	Fiscal year ended
	September 30,		September 24,		September 25,
	2023		2022		2021
			(in thousands)
Cash paid for:
Interest	$	4,745	$	945	$	29
Income taxes		8,617		16,814		11,556

Non cash items:
Obtaining a right-of-use asset in exchange for a lease liability	$	54,050	$	11,783	$	685

Schedule ll - Valuation and Qualifying Accounts (Tables)

12 Months Ended

Sep. 30, 2023

Summary of Valuation Allowance [Table Text Block]

		Opening		Charged to					Closing
Year	Description	Balance		Expense		Deductions			Balance

2023	Allowance for estimated credit losses	$	2,158	$	1,428	$	404	⁽¹⁾	$	3,182
2022	Allowance for estimated credit losses	$	1,405	$	1,781	$	1,028	⁽¹⁾	$	2,158
2021	Allowance for estimated credit losses	$	1,388	$	338	$	321	⁽¹⁾	$	1,405

Note I - Commitments

12 Months Ended

Sep. 30, 2023

Commitments and Contingencies Disclosure [Text Block]

NOTE I ‑ COMMITMENTS

We are a party to litigation which has arisen in the normal course of business which management currently believes will not have a material adverse effect on our financial condition or results of operations.

We self-insure, up to loss limits, certain insurable risks such as workers’ compensation, automobile, and general liability claims. Accruals for claims under our self-insurance program are recorded on a claims incurred basis. Our total recorded liability for all years’ claims incurred but not yet paid was $13.4 million and $13.7 million at September 30, 2023 and September 24, 2022, respectively. In connection with certain self-insurance agreements, we customarily enter into letters of credit arrangements with our insurers. At both September 30, 2023, and September 24, 2022, we had outstanding letters of credit totaling $9.8 million, respectively.

We have a self-insured medical plan which covers approximately 1,800 of our employees. We record a liability for incurred but not yet reported or paid claims based on our historical experience of claims payments and a calculated lag time period. Our recorded liability at September 30, 2023 and September 24, 2022 was $2.0 million and $1.8 million, respectively.

Note M - Cash Flow Information - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2023	Sep. 24, 2022	Sep. 25, 2021
Interest	$ 4,745	$ 945	$ 29
Income taxes	8,617	16,814	11,556
Obtaining a right-of-use asset in exchange for a lease liability	$ 54,050	$ 11,783	$ 685

Note C - Investment Securities - Held-to-maturity Securities by Contractual Maturity (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Sep. 24, 2022
Due in one year or less, amortized cost		$ 4,011
Due in one year or less, fair market value		3,990
Due after one year through five years, amortized cost		0
Due after one year through five years, fair market value		0
Due after five years through ten years, amortized cost		0
Due after five years through ten years, fair market value		0
Total held to maturity securities, amortized cost		4,011
Total held to maturity securities, fair market value	$ 3,990	3,990
Less current portion, amortized cost	$ 0	4,011
Less current portion, fair market value		3,990
Long term held to maturity securities, amortized cost		0
Long term held to maturity securities, fair market value		$ 0

Note R - Subsequent Events (Details Textual) - USD ($) $ in Thousands	Oct. 31, 2023	Sep. 30, 2023	Sep. 24, 2022
Operating Lease, Right-of-Use Asset		$ 88,868	$ 51,137
Operating Lease, Liability, Noncurrent		$ 77,631	$ 42,660
Subsequent Event [Member]
Operating Lease, Right-of-Use Asset	$ 37,100
Operating Lease, Liability, Noncurrent	$ 37,100

(Details) - USD ($) $ in Thousands	12 Months Ended
(Details) - USD ($) $ in Thousands	Sep. 30, 2023	Sep. 24, 2022	Sep. 25, 2021
Share-based compensation	$ 4,219	$ 3,334	$ 2,975
The above compensation is net of tax benefits	1,099	935	1,224
Share-Based Payment Arrangement, Option [Member]
Share-based compensation	1,882	2,407	2,265
Stock Purchase Plan [Member]
Share-based compensation	555	389	573
Stock Issued to Outside Directors [Member]
Share-based compensation	106	0	44
Restricted Stock [Member]
Share-based compensation	1,043	538	93
Performance Shares [Member]
Share-based compensation	$ 633	$ 0	$ 0

Note P - Leases - Supplemental Balance Sheet Information Related to Leases (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Sep. 24, 2022
Operating lease right-of-use assets	$ 88,868	$ 51,137
Current operating lease liabilities	16,478	13,524
Noncurrent operating lease liabilities	77,631	42,660
Total operating lease liabilities	94,109	56,184
Current finance lease liabilities	201	124
Noncurrent finance lease liabilities	600	254
Total finance lease liabilities	801	378
Property, Plant and Equipment, Net [Member]
Finance lease right-of-use assets in Property, plant and equipment, net	$ 789	$ 328

Note K - Stock-based Compensation - Performance Share Unit Acitvity (Details) - Performance Shares [Member] - USD ($)
$ / shares in Units, $ in Thousands

12 Months Ended

Sep. 30, 2023

Sep. 24, 2022

Balance, number (in shares)

8,868

Balance, weighted average grant per share (in dollars per share)

$ 155.01

$ 0

Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)

21,260

8,868

Granted, weighted average grant per share (in dollars per share)

$ 155.29

$ 155.01

Canceled, number (in shares)

(8,868)

^[1]

Canceled, weighted average grant date fair value per share (in dollars per share)

$ 155.01

^[1]

$ 0

Balance, weighted average remaining contractual life (Year)

2 years 2 months 12 days

2 years 1 month 6 days

Balance, number (in shares)

21,260

8,868

Balance, weighted average grant per share (in dollars per share)

$ 155.29

$ 155.01

Balance, September 30, 2023

$ 3,479

[1]	(1) Includes adjustments for performance achievement.

Note A - Summary of Significant Accounting Policies (Tables)

12 Months Ended

Sep. 30, 2023

Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block]

	Fiscal year ended
	September 30,			September 24,
	2023			2022
	(in thousands)

Beginning Balance	$	4,926		$	1,097
Additions to contract liability		6,802			9,163
Amounts recognized as revenue		(6,422	)		(5,334	)
Ending Balance	$	5,306		$	4,926

Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]

	(in thousands)

Balance at September 24, 2022	$	343
Additions based on tax positions related to the current year		-
Reductions for tax positions of prior years		-
Settlements		-
Balance at September 30, 2023	$	343

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

	Fiscal year ended September 30, 2023
	Income		Shares		Per Share
	(Numerator)		(Denominator)		Amount
	(in thousands, except per share amounts)
Basic EPS
Net earnings available to common stockholders	$	78,906		19,257	$	4.10

Effect of dilutive securities
RSU's and options	$	-		67		(0.02	)

Diluted EPS
Net earnings available to common stockholders plus assumed conversions	$	78,906		19,324	$	4.08

	Fiscal year ended September 24, 2022
	Income		Shares		Per Share
	(Numerator)		(Denominator)		Amount
	(in thousands, except per share amounts)
Basic EPS
Net earnings available to common stockholders	$	47,235		19,148	$	2.47

Effect of dilutive securities
RSU's and options	$	-		65		(0.01	)

Diluted EPS
Net earnings available to common stockholders plus assumed conversions	$	47,235		19,213	$	2.46

	Fiscal year ended September 25, 2021
	Income		Shares		Per Share
	(Numerator)		(Denominator)		Amount
	(in thousands, except per share amounts)
Basic EPS
Net earnings available to common stockholders	$	55,607		19,013	$	2.92

Effect of dilutive securities
RSU's and options	$	-		120		(0.01	)

Diluted EPS
Net earnings available to common stockholders plus assumed conversions	$	55,607		19,133	$	2.91

Disclosure of Share-Based Compensation Arrangements by Share-Based Payment Award [Table Text Block]

	Fiscal year ended
	September 30,		September 24,		September 25,
	2023		2022		2021
	(in thousands)

Stock options	$	1,882	$	2,407	$	2,265
Stock purchase plan		555		389		573
Stock issued to outside directors		106		-		44
Service share units issued to employees		1,043		538		93
Performance share units issued to employees		633		-		-
Total share-based compensation	$	4,219	$	3,334	$	2,975

The above compensation is net of tax benefits	$	1,099	$	935	$	1,224

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2023	Sep. 24, 2022	Sep. 25, 2021
Net Earnings	$ 78,906	$ 47,235	$ 55,607
Foreign currency translation adjustments	3,547	(330)	2,204
Total other comprehensive income (loss), net of tax	3,547	(330)	2,204
Comprehensive Income	$ 82,453	$ 46,905	$ 57,811

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

Reference 39: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(22))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

Note B - Acquisiitons - Acquired Intangible Assets (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2023	Sep. 24, 2022	Jun. 25, 2022
Finite-lived, weighted average life (Year)	10 years 4 months 24 days
Customer Relationships [Member]
Finite-lived, weighted average life (Year)	10 years
Franchise Rights [Member]
Finite-lived, weighted average life (Year)	10 years
Dippin’ Dots Holding, L.L.C. [Member]
Intangible assets	$ 118.2	$ 118.2	$ 120.4
Dippin’ Dots Holding, L.L.C. [Member] \| Developed Technology Rights [Member]
Finite-lived, weighted average life (Year)		10 years
Finite-lived, amount		$ 22.9
Dippin’ Dots Holding, L.L.C. [Member] \| Customer Relationships [Member]
Finite-lived, weighted average life (Year)		10 years
Finite-lived, amount		$ 9.9
Dippin’ Dots Holding, L.L.C. [Member] \| Franchise Rights [Member]
Finite-lived, weighted average life (Year)		10 years
Finite-lived, amount		$ 8.5
Dippin’ Dots Holding, L.L.C. [Member] \| Trade Names [Member]
Trade name		$ 76.9

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2023	Sep. 24, 2022
Current assets
Cash and cash equivalents	$ 49,581	$ 35,181
Marketable securities held to maturity	0	4,011
Accounts receivable, net	198,129	208,178
Inventories	171,539	180,473
Prepaid expenses and other	10,963	16,794
Total current assets	430,212	444,637
Property, plant and equipment, at cost	960,198	860,050
Less accumulated depreciation and amortization	574,295	524,683
Property, plant and equipment, net	385,903	335,367
Other assets
Goodwill	185,070	184,420
Other intangible assets, net	183,529	191,732
Marketable securities available for sale	0	5,708
Operating lease right-of-use assets	88,868	51,137
Other	3,654	3,965
Total other assets	461,121	436,962
Total Assets	1,277,236	1,216,966
Current Liabilities
Current finance lease liabilities	201	124
Accounts payable	90,758	108,146
Accrued insurance liability	15,743	15,678
Accrued liabilities	14,214	9,214
Current operating lease liabilities	16,478	13,524
Accrued compensation expense	23,341	21,700
Dividends payable	14,209	13,453
Total current liabilities	174,944	181,839
Long-term debt	27,000	55,000
Noncurrent finance lease liabilities	600	254
Noncurrent operating lease liabilities	77,631	42,660
Deferred income taxes	81,310	70,407
Other long-term liabilities	4,233	3,637
Stockholders' Equity
Preferred stock, $1 par value; authorized 10,000,000 shares; none issued	0	0
Common stock, no par value; authorized, 50,000,000 shares; issued and outstanding 19,332,000 and 19,219,000 respectively	114,556	94,026
Accumulated other comprehensive loss	(10,166)	(13,713)
Retained Earnings	807,128	782,856
Total stockholders' equity	911,518	863,169
Total Liabilities and Stockholders' Equity	$ 1,277,236	$ 1,216,966

Note H - Income Taxes (Tables)

12 Months Ended

Sep. 30, 2023

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

	Fiscal year ended
	September 30,			September 24,			September 25,
	2023			2022			2021
	(in thousands)

Current
U.S. Federal	$	6,447		$	(374	)	$	13,964
Foreign		6,149			2,854			860
State		4,349			3,210			6,431
Total current expense		16,945			5,690			21,255


Deferred
U.S. Federal	$	12,134		$	10,834		$	(145	)
Foreign		232			(394	)		(353	)
State		(703	)		(1,611	)		(2,338	)
Total deferred expense (benefit)		11,663			8,829			(2,836	)
Total expense	$	28,608		$	14,519		$	18,419

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

	Fiscal year ended
	September 30,		September 24,			September 25,
	2023		2022			2021
	(in thousands)

Income taxes at federal statutory rates	$	22,578	$	12,968		$	15,545
Increase (decrease) in taxes resulting from:
State income taxes, net of federal income tax benefit		2,732		1,261			3,233
Share-based compensation		62		162			(124	)
Tax effect in jurisdictions where rates differ from federal statutory rate		1,837		424			156
Other, net		1,399		(296	)		(391	)
Income tax expense	$	28,608	$	14,519		$	18,419

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

	Fiscal year ended
	September 30,			September 24,
	2023			2022
	(in thousands)

Deferred tax assets:
Vacation accrual	$	1,215		$	1,321
Capital loss carry forwards		224			17
Unrealized gains/losses		451			504
Accrued insurance liability		3,511			3,614
Operating lease liabilities		23,996			14,521
Deferred income		44			10
Allowances		2,879			2,598
Inventory capitalization		1,702			1,620
Share-based compensation		1,960			1,680
Net operating loss		940			538
Payroll tax accrual		-			1,142
Bonus accrual		2,282			-
Foreign tax credit		250			404
Total deferred tax assets		39,454			27,969
Valuation allowance		(675	)		(521	)
Total deferred tax assets, net		38,779			27,448

Deferred tax liabilities:
Amortization of goodwill and other intangible assets		35,363			32,680
Depreciation of property, plant and equipment		61,185			51,972
Right-of-use assets		22,688			13,058
Accounting method change 481(a)		853			145
Total deferred tax liabilities		120,089			97,855
Total deferred tax liabilities, net	$	81,310		$	70,407

Note D - Inventories - Summary of Inventories (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Sep. 24, 2022
Finished goods	$ 86,472	$ 86,464
Raw materials	30,537	41,505
Packaging materials	12,484	16,637
Equipment parts and other	42,046	35,867
Total inventories	$ 171,539	$ 180,473

Note F - Intangible Assets and Goodwill - Intangible Assets by Reporting Segment (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Sep. 24, 2022
Finite-lived intangible assets, accumulated amortization	$ 24,744	$ 19,758
Intangible assets	208,273	211,490
Food Service [Member]
Finite-lived intangible assets, accumulated amortization	15,587	10,729
Intangible assets	140,394	142,742
Retail Supermarket [Member]
Finite-lived intangible assets, accumulated amortization	7,256	7,342
Intangible assets	19,625	20,494
Frozen Beverages [Member]
Finite-lived intangible assets, accumulated amortization	1,901	1,687
Intangible assets	48,254	48,254
Trade Names [Member] \| Food Service [Member]
Indefinite-lived intangible assets, gross	84,194	85,872
Trade Names [Member] \| Retail Supermarket [Member]
Finite-lived intangible assets, gross	11,938	11,938
Finite-lived intangible assets, accumulated amortization	0	0
Trade Names [Member] \| Frozen Beverages [Member]
Indefinite-lived intangible assets, gross	9,315	9,315
Noncompete Agreements [Member] \| Food Service [Member]
Finite-lived intangible assets, gross	0	670
Finite-lived intangible assets, accumulated amortization	0	670
Franchise Rights [Member] \| Food Service [Member]
Finite-lived intangible assets, gross	8,500	8,500
Finite-lived intangible assets, accumulated amortization	1,063	212
Customer Relationships [Member] \| Food Service [Member]
Finite-lived intangible assets, gross	22,900	22,900
Finite-lived intangible assets, accumulated amortization	10,080	7,790
Customer Relationships [Member] \| Retail Supermarket [Member]
Finite-lived intangible assets, gross	7,687	7,907
Finite-lived intangible assets, accumulated amortization	7,256	6,693
Customer Relationships [Member] \| Frozen Beverages [Member]
Finite-lived intangible assets, gross	1,439	1,439
Finite-lived intangible assets, accumulated amortization	689	545
Developed Technology Rights [Member] \| Food Service [Member]
Finite-lived intangible assets, gross	23,110	23,110
Finite-lived intangible assets, accumulated amortization	2,879	576
Food Service [Member] \| License and Rights [Member]
Finite-lived intangible assets, gross	1,690	1,690
Finite-lived intangible assets, accumulated amortization	1,565	1,481
Finite-lived Trade Names [Member] \| Retail Supermarket [Member]
Finite-lived intangible assets, gross	0	649
Finite-lived intangible assets, accumulated amortization	0	649
Distribution Rights [Member] \| Frozen Beverages [Member]
Finite-lived intangible assets, gross	36,100	36,100
Finite-lived intangible assets, accumulated amortization	0	0
License and Rights [Member] \| Frozen Beverages [Member]
Finite-lived intangible assets, gross	1,400	1,400
Finite-lived intangible assets, accumulated amortization	$ 1,212	$ 1,142

Note I - Commitments (Details Textual) $ in Millions	Sep. 30, 2023 USD ($)	Sep. 24, 2022 USD ($)
Accrued Insurance	$ 13.4	$ 13.7
Letters of Credit Outstanding, Amount	$ 9.8	9.8
Entity Number of Employees	1,800
Self Insurance Reserve	$ 2.0	$ 1.8

Note N - Segment Information - Operations Information by Reporting Segment (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2023	Sep. 24, 2022	Sep. 25, 2021
Sales	$ 1,558,829	$ 1,380,656	$ 1,144,579
Depreciation and amortization	63,141	53,123	49,391
Operating income	109,518	61,799	71,218
Capital expenditures	104,737	87,291	53,578
Assets	1,277,236	1,216,966	1,122,219
Food Service [Member]
Sales	981,840	872,687	724,983
Depreciation and amortization	39,758	29,807	26,738
Operating income	49,778	18,512	39,172
Capital expenditures	79,388	61,738	38,558
Assets	903,518	893,045	799,149
Retail Supermarket [Member]
Sales	215,428	197,943	184,897
Depreciation and amortization	1,966	1,536	1,671
Operating income	9,375	9,487	25,914
Capital expenditures	1,824	8,885	288
Assets	34,232	20,302	31,486
Frozen Beverages [Member]
Sales	361,561	310,026	234,699
Depreciation and amortization	21,417	21,780	20,982
Operating income	50,365	33,800	6,132
Capital expenditures	23,525	16,668	14,732
Assets	339,486	303,619	291,584
Soft Pretzels [Member] \| Food Service [Member]
Sales	235,572	205,752	174,977
Soft Pretzels [Member] \| Retail Supermarket [Member]
Sales	60,272	61,925	54,990
Frozen Juices and Ices [Member] \| Food Service [Member]
Sales	145,425	78,183	44,605
Frozen Juices and Ices [Member] \| Retail Supermarket [Member]
Sales	115,807	108,911	100,059
Churros [Member] \| Food Service [Member]
Sales	108,927	88,242	64,916
Handhelds [Member] \| Food Service [Member]
Sales	82,292	92,130	75,627
Handhelds [Member] \| Retail Supermarket [Member]
Sales	16,655	5,640	7,574
Bakery [Member] \| Food Service [Member]
Sales	378,149	381,526	342,609
Other Products [Member] \| Food Service [Member]
Sales	31,475	26,854	22,249
Other Products [Member] \| Retail Supermarket [Member]
Sales	181	485	1,766
Other Products [Member] \| Frozen Beverages [Member]
Sales	3,032	2,522	1,943
Biscuits [Member] \| Retail Supermarket [Member]
Sales	25,074	24,695	24,197
Coupon Redemtion [Member] \| Retail Supermarket [Member]
Coupon redemption	(2,561)	(3,713)	(3,689)
Beverage [Member] \| Frozen Beverages [Member]
Sales	224,655	184,063	124,498
Repair and Maintenance Service [Member] \| Frozen Beverages [Member]
Sales	95,941	89,840	81,305
Machine Sales [Member] \| Frozen Beverages [Member]
Sales	$ 37,933	$ 33,601	$ 26,953

Note B - Acquisitions - Purchase Price Allocation for Acquisitions (Details) - USD ($)
$ in Thousands

12 Months Ended

15 Months Ended

Sep. 30, 2023

Sep. 24, 2022

Sep. 30, 2023

Jun. 25, 2022

Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual

$ 96,000

$ 33,700

Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual

13,000

4,900

Goodwill (1)

185,070

184,420

$ 185,070

Dippin’ Dots Holding, L.L.C. [Member]

Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual

95,963

33,734

Cash and cash equivalents

2,259

$ 2,259

Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual

13,005

4,859

Accounts receivable, net

12,257

Inventories

8,511

8,812

Inventories

300

(301)

Prepaid expenses and other

1,215

Property, plant and equipment, net

31,170

24,622

Property, plant and equipment, net

6,500

6,548

Intangible assets

118,200

120,400

Intangible assets

2,200

(2,200)

Goodwill (1)

^[1]

63,237

66,634

Goodwill (1)

700

$ 4,000

(3,397)

^[1]

Operating lease right-of-use assets

3,514

Other noncurrent assets

243

Total assets acquired

240,606

239,956

Total assets acquired

650

Liabilities assumed:

Current lease liabilities

619

Accounts payable

6,005

Other current liabilities

4,182

3,532

Other current liabilities

700

650

Noncurrent lease liabilities

2,954

Other noncurrent liabilities

3,285

Total liabilities acquired

17,045

16,395

Purchase price

$ 223,561

[1]

Note B - Acquisitions

12 Months Ended

Sep. 30, 2023

Business Combination Disclosure [Text Block]

NOTE B – ACQUISITIONS

On June 21, 2022, J & J Snack Foods Corp. and its wholly-owned subsidiary, DD Acquisition Holdings, LLC, completed the acquisition of one hundred percent (100%) of the equity interests of Dippin’ Dots Holding, L.L.C. (“Dippin’ Dots”) which, through its wholly-owned subsidiaries, owns and operates the Dippin’ Dots and Doc Popcorn businesses. The purchase price was approximately $223.6 million, consisting entirely of cash, and may be modified for certain customary post-closing purchase price adjustments.

Dippin’ Dots is a leading producer of flash-frozen beaded ice cream treats, and the acquisition will leverage synergies in entertainment and amusement locations, theaters, and convenience to continue to expand our business. The acquisition also includes the Doc Popcorn business operated by Dippin’ Dots.

The financial results of Dippin’ Dots have been included in our consolidated financial statements since the date of the acquisition. Sales and net earnings of Dippin’ Dots $96.0 million and $13.0 million for the year ended September 30, 2023, and $33.7 million and $4.9 million for the year ended September 24, 2022. Dippin’ Dots is reported as part of our Food Service segment. Acquisition costs of $3.1 million were included within Administrative expenses for the year ended September 24, 2022.

Dippin' Dots Results Included in the Company's Consolidated Results

	Fiscal year ended
	September 30,		September 24,
	2023		2022
	(in thousands)

Net sales	$	95,963	$	33,734
Net earnings	$	13,005	$	4,859

Upon acquisition, the assets and liabilities of Dippin’ Dots were adjusted to their respective fair values as of the closing date of the transaction, including the identifiable intangible assets acquired. In addition, the excess of the purchase price over the fair value of the net assets acquired has been recorded as goodwill. The fair value estimates used in valuing certain acquired assets and liabilities are based, in part, on inputs that are unobservable. For intangible assets, these include, but are not limited to, forecasted future cash flows, revenue growth rates, attrition rates and discount rates.

The purchase price allocation as of the date of acquisition was based on a preliminary valuation and is subject to revision as more detailed analyses are completed and additional information about the fair value of assets acquired and liabilities assumed becomes available.

In fiscal year 2023, we recorded a measurement period adjustment to the estimated fair values initially recorded on June 21, 2022, which resulted in an increase in Other Current Liabilities of $0.7 million and an increase in Goodwill of $0.7 million. In fiscal year 2022, we previously recorded measurement period adjustments to the estimated fair values initially recorded on June 21, 2022, which resulted in an increase to Property, plant, and equipment, net of $6.5 million, and reductions in Goodwill, Identifiable intangible assets, and Inventories of $4.0 million, $2.2 million, and $0.3 million, respectively. The measurement period adjustments were recorded to better reflect market participant assumptions about facts and circumstances existing as of the acquisition date and did not have a material impact on our consolidated statement of income for the year ended September 30, 2023.

The following table reflects: (i) the Company’s preliminary allocation of the purchase price to the assets acquired and liabilities assumed as of the acquisition date; (ii) measurement period adjustments made to the preliminary allocation during the measurement period; and (iii) the final allocation of the purchase price to the assets acquired and liabilities assumed:

Final Dippin' Dots Purchase Price Allocation

	Preliminary Value
	as of acquisition
	date (as previously		Measurement
	reported as of		Period
	June 25, 2022)		Adjustment			As Adjusted
	(in thousands)

Cash and cash equivalents	$	2,259				$	2,259
Accounts receivable, net		12,257					12,257
Inventories		8,812		(301	)		8,511
Prepaid expenses and other		1,215					1,215
Property, plant and equipment, net		24,622		6,548			31,170
Intangible assets		120,400		(2,200	)		118,200
Goodwill (1)		66,634		(3,397	)		63,237
Operating lease right-of-use assets		3,514					3,514
Other noncurrent assets		243					243
Total assets acquired		239,956		650			240,606
Liabilities assumed:
Current lease liabilities		619					619
Accounts payable		6,005					6,005
Other current liabilities		3,532		650			4,182
Noncurrent lease liabilities		2,954					2,954
Other noncurrent liabilities		3,285					3,285
Total liabilities acquired		16,395		650			17,045
Purchase price	$	223,561	$	-		$	223,561

(1) Goodwill was assigned to our Food Services segment and was primarily attributed to the assembled workforce of the acquired business and to our expectations of favorable growth opportunities in entertainment and amusement locations, theaters, and convenience based on increased synergies that are expected to be achieved from the integration of Dippin’ Dots.

Acquired Intangible Assets

	Weighted average		June 21,
	life (years)		2022
			(in thousands)
Amortizable
Trade name	indefinite		$	76,900
Developed technology		10		22,900
Customer relationships		10		9,900
Franchise agreements		10		8,500
Total acquired intangible assets			$	118,200

The following unaudited pro forma information presents the consolidated results of operations as if the business combination in 2022 had occurred as of September 27, 2020, after giving effect to acquisition-related adjustments, including: (1) depreciation and amortization of assets; (2) amortization of unfavorable contracts related to the fair value adjustments of the assets acquired; (3) change in the effective tax rate; (4) interest expense on any debt incurred to fund the acquisitions which would have been incurred had such acquisitions occurred as of September 27, 2020; and (5) merger and acquisition costs.

J & J Snack Foods Corp and Dippin' Dots Unaudited Pro Forma Combined Financial Information

	Fiscal year ended
	September 24,		September 25,
	2022		2021
	(in thousands)

Net sales	$	1,428,505	$	1,209,055
Net earnings	$	49,191	$	61,001

Earnings per diluted share	$	2.56	$	3.19
Weighted average number of diluted shares		19,213		19,133

Note N - Segment Information (Details Textual)	12 Months Ended
Note N - Segment Information (Details Textual)	Sep. 30, 2023
Number of Operating Segments	3
Number of Reportable Segments	3

Note 2 - Business Combinations - Proforma Results from Acquisitions (Details) - Dippin’ Dots Holding, L.L.C. [Member] - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Sep. 24, 2022	Sep. 25, 2021
Net sales	$ 1,428,505	$ 1,209,055
Net earnings	$ 49,191	$ 61,001
Earnings per diluted share (in dollars per share)	$ 2,560	$ 3,190
Weighted average number of diluted shares (in shares)	19,213	19,133

Note E - Property, Plant and Equipment

12 Months Ended

Sep. 30, 2023

Property, Plant and Equipment Disclosure [Text Block]

NOTE E – PROPERTY, PLANT AND EQUIPMENT

Property, plant and equipment consist of the following:

	September 30,		September 24,		Estimated Useful
	2023		2022		Lives (years)
	(in thousands)

Land	$	3,684	$	3,714		-
Buildings		45,538		34,232	15-39.5
Plant machinery and equipment		445,299		374,566	5-20
Marketing equipment		296,482		274,904	5-7
Transportation equipment		14,367		11,685	5
Office equipment		47,393		45,865	3-5
Improvements		51,319		49,331	5-20
Construction in Progress		56,116		65,753		-
		960,198		860,050
Less accumulated depreciation		574,295		524,683
Property, plant and equipment, net	$	385,903	$	335,367

Depreciation expense was $56.6 million, $49.7 million, and $46.8 million for fiscal years 2023, 2022 and 2021, respectively.

Note C - Investment Securities (Tables)

12 Months Ended

Sep. 30, 2023

Unrealized Gain (Loss) on Investments [Table Text Block]

			Gross		Gross		Fair
	Amortized		Unrealized		Unrealized		Market
	Cost		Gains		Losses		Value
	(in thousands)

Corporate Bonds	$	4,011	$	-	$	21	$	3,990
Total marketable securities held to maturity	$	4,011	$	-	$	21	$	3,990

			Gross		Gross		Fair
	Amortized		Unrealized		Unrealized		Market
	Cost		Gains		Losses		Value
	(in thousands)

Mutual Funds	$	3,588	$	-	$	742	$	2,846
Preferred Stock		2,816		46		-		2,862
Total marketable securities available for sale	$	6,404	$	46	$	742	$	5,708

Investments Classified by Contractual Maturity Date [Table Text Block]

			Fair
	Amortized		Market
	Cost		Value

Due in one year or less	$	4,011	$	3,990
Due after one year through five years		-		-
Due after five years through ten years		-		-
Total held to maturity securities	$	4,011	$	3,990
Less current portion		4,011		3,990
Long term held to maturity securities	$	-	$	-

Note A - Summary of Significant Accounting Policies - Contract Liability (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2023	Sep. 24, 2022
Beginning Balance	$ 4,926	$ 1,097
Additions to contract liability	6,802	9,163
Amounts recognized as revenue	(6,422)	(5,334)
Ending Balance	$ 5,306	$ 4,926

Note K - Stock-based Compensation

12 Months Ended

Sep. 30, 2023

Share-Based Payment Arrangement [Text Block]

NOTE K – STOCK-BASED COMPENSATION

We have a Long-Term Incentive Plan (the “Plan”). Pursuant to the Plan, stock options, which qualify as incentive stock options as well as stock options which are nonqualified, restricted stock units, and performance awards may be granted to officers and our key employees.

The exercise price of incentive stock options is at least the fair market value of the common stock on the date of grant. The exercise price for nonqualified options is determined by a committee of the Board of Directors. The options are generally exercisable after three years and expire no later than ten years from date of grant. The fair value of each option grant is estimated on the date of grant using the Black-Scholes options-pricing model. Forfeitures are recognized as they occur.

Performance awards may include (i) specific dollar-value target awards, (ii) performance units, or (iii) performance shares. The vesting of performance based awards, if any, is dependent upon the achievement of certain performance targets. If the performance standards are not achieved, all unvested units will expire, and any accrued expense will be reversed. The fair value of the grant is determined based upon the closing price of the Company’s stock on the date of grant.

There are approximately 462,000 shares reserved under the Plan for which options, restricted stock units, and performance awards have not yet been issued. There are options that were issued under prior option plans that have since been replaced that are still outstanding.

We have an Employee Stock Purchase Plan (“ESPP”) whereby employees purchase stock by making contributions through payroll deductions for six-month periods. The purchase price of the stock is 85% of the lower of the market price of the stock at the beginning of the six-month period or the end of the six-month period. In fiscal years 2023, 2022 and 2021 employees purchased 17,231, 16,274 and 11,988 shares at average purchase prices of $121.53, $124.94, and $116.03, respectively. ESPP expense of $0.6 million, $0.3 million, and $0.6 million was recognized for fiscal years 2023, 2022 and 2021, respectively.

Stock Options

A summary of the status of our stock option plans as of fiscal years 2023, 2022 and 2021 and the changes during the years ended on those dates is represented below:

	Incentive Stock Options					Nonqualified Stock Options
				Weighted-					Weighted-
	Stock			Average		Stock			Average
	Options			Exercise		Options			Exercise
	Outstanding			Price		Outstanding			Price

Balance, September 26, 2020		470,420			136.62		346,442			122.04
Granted		111,862			165.53		43,970			160.14
Exercised		(102,976	)		120.83		(55,453	)		120.92
Canceled		(31,684	)		143.74		(41,222	)		95.95

Balance, September 25, 2021		447,622			146.98		293,737			132.29
Granted		103,405			132.38		11,545			132.38
Exercised		(67,782	)		131.35		(60,581	)		107.17
Canceled		(49,886	)		150.85		(16,383	)		151.50

Balance, September 24, 2022		433,359			146.98		228,318			132.29
Granted		-			-		-			-
Exercised		(83,401	)		140.30		(11,294	)		137.81
Canceled		(78,137	)		143.96		(5,646	)		153.04

Balance, September 30, 2023		271,821			147.45		211,378			140.79


Exercisable Options September 30, 2023		102,158			145.91		161,128			136.55

There were no incentive stock option grants in fiscal year 2023. The weighted-average fair value of incentive stock options granted during fiscal years ended September 24, 2022 and September 25, 2021 was $23.36 and $31.20, respectively. There were no non-qualified stock options grants in fiscal year 2023. The weighted-average fair value of non-qualified stock options granted during the fiscal years ended September 24, 2022 and September 25, 2021 was $23.36 and $29.76, respectively. The total intrinsic value of stock options exercised was $2.1 million, $4.1 million and $6.0 million in fiscal years 2023, 2022 and 2021, respectively.

The total cash received from these option exercises was $13.1 million, $14.1 million and $18.7 million in fiscal years 2023, 2022 and 2021, respectively; and the actual tax benefit realized from the tax deductions from these option exercises was $0.1 million, $0.7 million and $1.2 million in fiscal years 2023, 2022 and 2021, respectively.

At September 30, 2023, the Company has unrecognized compensation expense of approximately $2.1 million related to stock options to be recognized over the next three fiscal years.

The following table summarizes information about incentive stock options outstanding as of September 30, 2023:

			Options Outstanding						Options Exercisable
			Number		Weighted-				Number
			Outstanding		Average		Weighted-		Outstanding		Weighted-
			at		Remaining		Average		at		Average
Range of			September 30,		Contractual		Exercise		September 30,		Exercise
Exercise Prices			2023		Life		Price		2023		Price

$125.83	-	$158.97		136,548		3.0	$	130.26		48,508	$	126.27
$163.29	-	$192.13		135,273		1.8	$	164.81		53,650	$	163.67
Total options				271,821						102,158		145.91

The following table summarizes information about nonqualified stock options outstanding as of September 30, 2023:

			Options Outstanding						Options Exercisable
			Number		Weighted-				Number
			Outstanding		Average		Weighted-		Outstanding		Weighted-
			at		Remaining		Average		at		Average
Range of			September 30,		Contractual		Exercise		September 30,		Exercise
Exercise Prices			2023		Life		Price		2023		Price

$94.24	-	$119.44		60,000		2.0	$	110.51		60,000	$	110.51
$125.83	-	$153.65		91,544		4.5	$	139.28		61,784	$	135.71
$163.29	-	$191.40		59,834		3.1	$	173.46		39,344	$	177.58
Total options				211,378						161,128		136.55

Restricted Stock Units

A summary of our service share units (“RSU”)’s as of fiscal years 2023 and 2022 and the changes during the years ended on those dates is represented below. No RSU’s were granted, vested, or cancelled in fiscal 2021.

				Weighted-		Weighted-
				Average		Average
	Number of			Grant-Date		Remaining		Aggregate
	Performance			Fair Value		Contractual		Intrinsic
	Share Unites			Per Share		Life		Value

Balance, September 25, 2021		-			-		-
Granted		9,200			154.85
Vested		-			-
Canceled		-			-

Balance, September 24, 2022		9,200			154.85		2.1
Granted		21,864			154.32
Vested		(3,165	)		154.94
Canceled		-			-

Balance, September 30, 2023		27,899			154.46		2.2		4,566

As of September 30, 2023, the Company has unrecognized compensation expense of approximately $2.5 million related to the RSU’s.

Performance Share Units

A summary of our performance share units (“PSU”)’s as of fiscal years 2023 and 2022 and the changes during the years ended on those dates is represented below. The shares are represented at the target award amounts based upon the respective performance share agreements. Actual shares that will vest depend on the level of attainment of the performance-based criteria. No PSU’s were granted, vested, or canceled in fiscal 2021.

				Weighted-		Weighted-
				Average		Average
	Number of			Grant-Date		Remaining		Aggregate
	Performance			Fair Value		Contractual		Intrinsic
	Share Unites			Per Share		Life		Value

Balance, September 25, 2021		-			-		-
Granted		8,868			155.01
Vested		-			-
Canceled		-			-

Balance, September 24, 2022		8,868			155.01		2.1
Granted		21,260			155.29
Vested		-			-
Canceled (1)		(8,868	)		155.01

Balance, September 30, 2023		21,260			155.29		2.2		3,479

(1) Includes adjustments for performance achievement.

As of September 30, 2023, the Company has unrecognized compensation expense of approximately $2.4 million related to the PSU’s.

Note D - Inventories (Tables)

12 Months Ended

Sep. 30, 2023

Schedule of Inventory, Current [Table Text Block]

	September 30,		September 24,
	2023		2022
	(in thousands)

Finished goods	$	86,472	$	86,464
Raw materials		30,537		41,505
Packaging materials		12,484		16,637
Equipment parts and other		42,046		35,867
Total inventories	$	171,539	$	180,473

Significant Accounting Policies (Policies)

12 Months Ended

Sep. 30, 2023

Accounting Policies [Abstract]

Consolidation, Policy [Policy Text Block]

1.	Principles of Consolidation

Revenue from Contract with Customer [Policy Text Block]

2.	Revenue Recognition

We recognize revenue in accordance with ASC 606, “Revenue from Contracts with Customers.”

When Performance Obligations Are Satisfied

Significant Payment Terms

Shipping

Variable Consideration

Warranties & Returns

Contract Balances

Our customers are billed for service contracts in advance of performance and therefore we have a contract liability on our balance sheet as follows:

	Fiscal year ended
	September 30,			September 24,
	2023			2022
	(in thousands)

Beginning Balance	$	4,926		$	1,097
Additions to contract liability		6,802			9,163
Amounts recognized as revenue		(6,422	)		(5,334	)
Ending Balance	$	5,306		$	4,926

Disaggregation of Revenue

See Note N for disaggregation of our net sales by class of similar product and type of customer.

Allowance for Estimated Credit Losses

Foreign Currency Transactions and Translations Policy [Policy Text Block]

3.	Foreign Currency

Use of Estimates, Policy [Policy Text Block]

4.	Use of Estimates

Cash and Cash Equivalents, Policy [Policy Text Block]

5.	Cash Equivalents

Cash equivalents are short-term, highly liquid investments with original maturities of three months or less.

Concentration Risk, Credit Risk, Policy [Policy Text Block]

6.	Concentrations and related risks

We maintain cash balances at financial institutions located in various states. We have cash balances at six banks totaling approximately $14 million that is in excess of federally insured limits.

About 28% of our employees are covered by collective bargaining agreements.

None of our vendors supplied more than 10% of our ingredients and packaging in 2023, 2022 or 2021.

Inventory, Policy [Policy Text Block]

7.	Inventories

Marketable Securities, Policy [Policy Text Block]

8.	Investment Securities

Depreciation, Depletion, and Amortization [Policy Text Block]

9.	Depreciation and Amortization

Fair Value of Financial Instruments, Policy [Policy Text Block]

10.

Fair Value of Financial Instruments

The carrying value of our short-term financial instruments, such as accounts receivables and accounts payable, approximate their fair values, based on the short-term maturities of these instruments.

Income Tax, Policy [Policy Text Block]

11.

Income Taxes

	(in thousands)

Balance at September 24, 2022	$	343
Additions based on tax positions related to the current year		-
Reductions for tax positions of prior years		-
Settlements		-
Balance at September 30, 2023	$	343

Our effective tax rate in fiscal 2023 was 26.6%. Our effective tax rate in our fiscal 2022 year was 23.5% and in fiscal 2021 was 24.9%.

Earnings Per Share, Policy [Policy Text Block]

12.

Earnings Per Common Share

Our calculation of EPS is as follows:

	Fiscal year ended September 30, 2023
	Income		Shares		Per Share
	(Numerator)		(Denominator)		Amount
	(in thousands, except per share amounts)
Basic EPS
Net earnings available to common stockholders	$	78,906		19,257	$	4.10

Effect of dilutive securities
RSU's and options	$	-		67		(0.02	)

Diluted EPS
Net earnings available to common stockholders plus assumed conversions	$	78,906		19,324	$	4.08

252,044 anti-dilutive shares have been excluded in the computation of fiscal year 2023 diluted EPS.

	Fiscal year ended September 24, 2022
	Income		Shares		Per Share
	(Numerator)		(Denominator)		Amount
	(in thousands, except per share amounts)
Basic EPS
Net earnings available to common stockholders	$	47,235		19,148	$	2.47

Effect of dilutive securities
RSU's and options	$	-		65		(0.01	)

Diluted EPS
Net earnings available to common stockholders plus assumed conversions	$	47,235		19,213	$	2.46

287,558 anti-dilutive shares have been excluded in the computation of fiscal year 2022 diluted EPS.

	Fiscal year ended September 25, 2021
	Income		Shares		Per Share
	(Numerator)		(Denominator)		Amount
	(in thousands, except per share amounts)
Basic EPS
Net earnings available to common stockholders	$	55,607		19,013	$	2.92

Effect of dilutive securities
RSU's and options	$	-		120		(0.01	)

Diluted EPS
Net earnings available to common stockholders plus assumed conversions	$	55,607		19,133	$	2.91

284,480 anti-dilutive shares have been excluded in the computation of fiscal year 2021 diluted EPS.

Share-Based Payment Arrangement [Policy Text Block]

13.

Accounting for Stock-Based Compensation

At September 30, 2023, the Company has two stock-based employee compensation plans. Share-based compensation was recognized as follows:

	Fiscal year ended
	September 30,		September 24,		September 25,
	2023		2022		2021
	(in thousands)

Stock options	$	1,882	$	2,407	$	2,265
Stock purchase plan		555		389		573
Stock issued to outside directors		106		-		44
Service share units issued to employees		1,043		538		93
Performance share units issued to employees		633		-		-
Total share-based compensation	$	4,219	$	3,334	$	2,975

The above compensation is net of tax benefits	$	1,099	$	935	$	1,224

Advertising Cost [Policy Text Block]

14.

Advertising Costs

Advertising costs are expensed as incurred. Total advertising expense was $9.7 million, $7.0 million, and $4.9 million for the fiscal years 2023, 2022 and 2021, respectively.

Derivatives, Policy [Policy Text Block]

15.

Commodity Price Risk Management

Research, Development, and Computer Software, Policy [Policy Text Block]

16.

Research and Development Costs

Research and development costs are expensed as incurred. Total research and development expense was $1.2 million, $0.7 million and $0.6 million for the fiscal years 2023, 2022 and 2021, respectively.

New Accounting Pronouncements, Policy [Policy Text Block]

17.

Recent Accounting Pronouncements

Reclassification, Comparability Adjustment [Policy Text Block]

18.

Reclassifications

Certain prior year financial statement amounts have been reclassified to be consistent with the presentation for the current year.

Note P - Leases - Components of Lease Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2023	Sep. 24, 2022
Operating lease cost in Cost of goods sold and Operating Expenses	$ 17,352	$ 15,611
Amortization of assets in Cost of goods sold and Operating Expenses	270	160
Interest on lease liabilities in Interest expense & other	22	13
Total finance lease cost	292	173
Short-term lease cost in Cost of goods sold and Operating Expenses	0	0
Total net lease cost	$ 17,644	$ 15,784

Note F - Goodwill and Intangible Assets (Tables)

12 Months Ended

Sep. 30, 2023

Schedule of Acquired Finite-Lived Intangible Assets by Major Class [Table Text Block]

	September 30, 2023				September 24, 2022
	Gross				Gross
	Carrying		Accumulated		Carrying		Accumulated
	Amount		Amortization		Amount		Amortization

FOOD SERVICE

Indefinite lived intangible assets
Trade names	$	84,194	$	-	$	85,872	$	-

Amortized intangible assets
Non-compete agreements		-		-		670		670
Franchise agreements		8,500		1,063		8,500		212
Customer relationships		22,900		10,080		22,900		7,790
Technology		23,110		2,879		23,110		576
License and rights		1,690		1,565		1,690		1,481
TOTAL FOOD SERVICE	$	140,394	$	15,587	$	142,742	$	10,729

RETAIL SUPERMARKETS

Indefinite lived intangible assets
Trade names	$	11,938	$	-	$	11,938	$	-

Amortized intangible Assets
Trade names		-		-		649		649
Customer relationships		7,687		7,256		7,907		6,693
TOTAL RETAIL SUPERMARKETS	$	19,625	$	7,256	$	20,494	$	7,342


FROZEN BEVERAGES

Indefinite lived intangible assets
Trade names	$	9,315	$	-	$	9,315	$	-
Distribution rights		36,100		-		36,100		-

Amortized intangible assets
Customer relationships		1,439		689		1,439		545
Licenses and rights		1,400		1,212		1,400		1,142
TOTAL FROZEN BEVERAGES	$	48,254	$	1,901	$	48,254	$	1,687

CONSOLIDATED	$	208,273	$	24,744	$	211,490	$	19,758

Schedule of Goodwill [Table Text Block]

	Food		Retail		Frozen
	Service		Supermarket		Beverages		Total
	(in thousands)
September 30, 2023	$	124,426	$	4,146	$	56,498	$	185,070

September 24, 2022	$	123,776	$	4,146	$	56,498	$	184,420

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
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-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
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-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
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Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
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-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
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Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
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-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
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-Paragraph 1
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
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-Name Accounting Standards Codification
-Section 50
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-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1A

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-2

Consolidated Balance Sheets (Parentheticals) - $ / shares	Sep. 30, 2023	Sep. 24, 2022
Preferred stock, par value (in dollars per share)	$ 1	$ 1
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, shares issued (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0	$ 0
Common stock, shares authorized (in shares)	50,000,000	50,000,000
Common Stock, Shares, Outstanding (in shares)	19,332,000	19,219,000
Common stock, shares issued (in shares)	19,332,000	19,219,000

Note R - Subsequent Events

12 Months Ended

Sep. 30, 2023

Subsequent Events [Text Block]

NOTE R – SUBSEQUENT EVENTS

Events occurring after September 30, 2023, and through the date that these consolidated financial statements were issued, were evaluated to ensure that any subsequent events that met the criteria for recognition have been included, and are as follows:

In October 2023, the Company began leasing a regional distribution center in Woolwich Township, New Jersey. At the lease commencement date, $37.1 million was recorded as an operating right-of-use asset and $37.1 million was recorded as a non-current operating lease liability. The distribution center will be operated by NFI for the Company, pursuant to the Distribution Services Agreement noted in Note Q.

J & J SNACK FOODS CORP. AND SUBSIDIARIES

Note K - Stock-based Compensation (Details Textual) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Sep. 30, 2023	Sep. 24, 2022	Sep. 25, 2021
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year)	3 years
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period (Year)	10 years
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized (in shares)	462,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Discount from Market Price, Offering Date	85.00%
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period, Intrinsic Value	$ 2.1	$ 4.1	$ 6.0
Proceeds from Stock Options Exercised	13.1	14.1	18.7
Share-Based Payment Arrangement, Exercise of Option, Tax Benefit	0.1	$ 0.7	$ 1.2
Incentive Stock Options [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share)		$ 23.36	$ 31.2
Non-qualified Stock Options [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share)		$ 23.36	$ 29.76
Share-Based Payment Arrangement, Option [Member]
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount	$ 2.1
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)	3 years
Restricted Stock Units (RSUs) [Member]
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount	$ 2.5
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period (in shares)	3,165	(0)	0
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)	21,864	9,200	0
Performance Shares [Member]
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount	$ 2.4
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)	21,260	8,868
Employee Stock Purchase Plan [Member]
Stock Issued During Period, Shares, Employee Stock Purchase Plans (in shares)	17,231	16,274	11,988
Share Price (in dollars per share)	$ 121.53	$ 124.94	$ 116.03
Share-Based Payment Arrangement, Expense	$ 0.6	$ 0.3	$ 0.6

Note K - Stock-based Compensation (Tables)

12 Months Ended

Sep. 30, 2023

Share-Based Payment Arrangement, Option, Activity [Table Text Block]

	Incentive Stock Options					Nonqualified Stock Options
				Weighted-					Weighted-
	Stock			Average		Stock			Average
	Options			Exercise		Options			Exercise
	Outstanding			Price		Outstanding			Price

Balance, September 26, 2020		470,420			136.62		346,442			122.04
Granted		111,862			165.53		43,970			160.14
Exercised		(102,976	)		120.83		(55,453	)		120.92
Canceled		(31,684	)		143.74		(41,222	)		95.95

Balance, September 25, 2021		447,622			146.98		293,737			132.29
Granted		103,405			132.38		11,545			132.38
Exercised		(67,782	)		131.35		(60,581	)		107.17
Canceled		(49,886	)		150.85		(16,383	)		151.50

Balance, September 24, 2022		433,359			146.98		228,318			132.29
Granted		-			-		-			-
Exercised		(83,401	)		140.30		(11,294	)		137.81
Canceled		(78,137	)		143.96		(5,646	)		153.04

Balance, September 30, 2023		271,821			147.45		211,378			140.79


Exercisable Options September 30, 2023		102,158			145.91		161,128			136.55

Schedule of Nonvested Restricted Stock Units Activity [Table Text Block]

				Weighted-		Weighted-
				Average		Average
	Number of			Grant-Date		Remaining		Aggregate
	Performance			Fair Value		Contractual		Intrinsic
	Share Unites			Per Share		Life		Value

Balance, September 25, 2021		-			-		-
Granted		9,200			154.85
Vested		-			-
Canceled		-			-

Balance, September 24, 2022		9,200			154.85		2.1
Granted		21,864			154.32
Vested		(3,165	)		154.94
Canceled		-			-

Balance, September 30, 2023		27,899			154.46		2.2		4,566

Schedule of Nonvested Performance-Based Units Activity [Table Text Block]

				Weighted-		Weighted-
				Average		Average
	Number of			Grant-Date		Remaining		Aggregate
	Performance			Fair Value		Contractual		Intrinsic
	Share Unites			Per Share		Life		Value

Balance, September 25, 2021		-			-		-
Granted		8,868			155.01
Vested		-			-
Canceled		-			-

Balance, September 24, 2022		8,868			155.01		2.1
Granted		21,260			155.29
Vested		-			-
Canceled (1)		(8,868	)		155.01

Balance, September 30, 2023		21,260			155.29		2.2		3,479

Incentive Stock Options [Member]

Share-Based Payment Arrangement, Option, Exercise Price Range [Table Text Block]

			Options Outstanding						Options Exercisable
			Number		Weighted-				Number
			Outstanding		Average		Weighted-		Outstanding		Weighted-
			at		Remaining		Average		at		Average
Range of			September 30,		Contractual		Exercise		September 30,		Exercise
Exercise Prices			2023		Life		Price		2023		Price

$125.83	-	$158.97		136,548		3.0	$	130.26		48,508	$	126.27
$163.29	-	$192.13		135,273		1.8	$	164.81		53,650	$	163.67
Total options				271,821						102,158		145.91

			Options Outstanding						Options Exercisable
			Number		Weighted-				Number
			Outstanding		Average		Weighted-		Outstanding		Weighted-
			at		Remaining		Average		at		Average
Range of			September 30,		Contractual		Exercise		September 30,		Exercise
Exercise Prices			2023		Life		Price		2023		Price

$94.24	-	$119.44		60,000		2.0	$	110.51		60,000	$	110.51
$125.83	-	$153.65		91,544		4.5	$	139.28		61,784	$	135.71
$163.29	-	$191.40		59,834		3.1	$	173.46		39,344	$	177.58
Total options				211,378						161,128		136.55

Note N - Segment Information

12 Months Ended

Sep. 30, 2023

Segment Reporting Disclosure [Text Block]

NOTE N – SEGMENT REPORTING

We principally sell our products to the food service and retail supermarket industries. Sales and results of our frozen beverages business are monitored separately from the balance of our food service business because of different distribution and capital requirements. We maintain separate and discrete financial information for the three operating segments mentioned above which is available to our Chief Operating Decision Maker. We have applied no aggregation criteria to any of these operating segments in order to determine reportable segments. Our three reportable segments are Food Service, Retail Supermarkets and Frozen Beverages. All inter-segment net sales and expenses have been eliminated in computing net sales and operating income. These segments are described below.

Food Service

The primary products sold by the Food Service segment are soft pretzels, frozen novelties, churros, handheld products and baked goods. Our customers in the Food Service segment include snack bars and food stands in chain, department and discount stores; malls and shopping centers; casual dining restaurants; fast food and casual dining restaurants; stadiums and sports arenas; leisure and theme parks; convenience stores; movie theatres; warehouse club stores; schools, colleges and other institutions. Within the food service industry, our products are purchased by the consumer primarily for consumption at the point-of-sale or for take-away.

Retail Supermarkets

The primary products sold to the retail supermarket channel are soft pretzel products – including SUPERPRETZEL and AUNTIE ANNE’S, frozen novelties including LUIGI’S Real Italian Ice, MINUTE MAID Juice Bars and Soft Frozen Lemonade, WHOLE FRUIT frozen fruit bars and sorbet, DOGSTERS ice cream style treats for dogs, PHILLY SWIRL cups and sticks, ICEE Squeeze-Up Tubes and handheld products. Within the retail supermarket channel, our frozen and prepackaged products are purchased by the consumer for consumption at home.

Frozen Beverages

We sell frozen beverages to the foodservice industry primarily under the names ICEE, SLUSH PUPPIE and PARROT ICE in the United States, Mexico and Canada. We also provide repair and maintenance services to customers for customer-owned equipment.

The Chief Operating Decision Maker for Food Service, Retail Supermarkets and Frozen Beverages reviews monthly detailed operating income statements and sales reports in order to assess performance and allocate resources to each individual segment. Sales and operating income are key variables monitored by the Chief Operating Decision Maker and management when determining each segment’s and the company’s financial condition and operating performance. In addition, the Chief Operating Decision Maker reviews and evaluates depreciation, capital spending and assets of each segment on a quarterly basis to monitor cash flow and asset needs of each segment. Information regarding the operations in these three reportable segments is as follows:

	September 30,			September 24,			September 25,
	2023			2022			2021
	(53 weeks)			(52 weeks)			(52 weeks)
	(in thousands)
Sales to external customers:
Food Service
Soft pretzels	$	235,572		$	205,752		$	174,977
Frozen novelties		145,425			78,183			44,605
Churros		108,927			88,242			64,916
Handhelds		82,292			92,130			75,627
Bakery		378,149			381,526			342,609
Other		31,475			26,854			22,249
Total Food Service	$	981,840		$	872,687		$	724,983

Retail Supermarket
Soft pretzels	$	60,272		$	61,925		$	54,990
Frozen novelties		115,807			108,911			100,059
Biscuits		25,074			24,695			24,197
Handhelds		16,655			5,640			7,574
Coupon redemption		(2,561	)		(3,713	)		(3,689	)
Other		181			485			1,766
Total Retail Supermarket	$	215,428		$	197,943		$	184,897

Frozen Beverages
Beverages	$	224,655		$	184,063		$	124,498
Repair and maintenance service		95,941			89,840			81,305
Machines revenue		37,933			33,601			26,953
Other		3,032			2,522			1,943
Total Frozen Beverages	$	361,561		$	310,026		$	234,699

Consolidated sales	$	1,558,829		$	1,380,656		$	1,144,579

Depreciation and amortization:
Food Service		39,758		$	29,807		$	26,738
Retail Supermarket		1,966			1,536			1,671
Frozen Beverages		21,417			21,780			20,982
Total depreciation and amortization	$	63,141		$	53,123		$	49,391

Operating Income:
Food Service	$	49,778		$	18,512		$	39,172
Retail Supermarket		9,375			9,487			25,914
Frozen Beverages		50,365			33,800			6,132
Total operating income	$	109,518		$	61,799		$	71,218

Capital expenditures:
Food Service	$	79,388		$	61,738		$	38,558
Retail Supermarket		1,824			8,885			288
Frozen Beverages		23,525			16,668			14,732
Total capital expenditures	$	104,737		$	87,291		$	53,578

Assets:
Food Service	$	903,518		$	893,045		$	799,149
Retail Supermarket		34,232			20,302			31,486
Frozen Beverages		339,486			303,619			291,584
Total assets	$	1,277,236		$	1,216,966		$	1,122,219

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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Note O - Accumulated Other Comprehensive Loss - Changes to the Components of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2023	Sep. 24, 2022	Sep. 25, 2021
Balance	$ 863,169	$ 845,654	$ 809,498
Other comprehensive income (loss)	3,547	(330)	2,204
Balance	911,518	863,169	845,654
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Balance	(13,713)	(13,383)
Other comprehensive income (loss)	3,547	(330)
Balance	$ (10,166)	$ (13,713)	$ (13,383)

Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

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Note A - Summary of Significant Accounting Policies - Unrecognized Tax Benefits (Details) $ in Thousands	12 Months Ended
	Sep. 30, 2023 USD ($)
Balance	$ 343
Additions based on tax positions related to the current year	0
Reductions for tax positions of prior years	0
Settlements	0
Balance	$ 343

Schedule ll - Valuation and Qualifying Accounts

12 Months Ended

Sep. 30, 2023

SEC Schedule, 12-09, Schedule of Valuation and Qualifying Accounts Disclosure [Text Block]

SCHEDULE II – VALUATION AND QUALIFYING ACCOUNTS

(in thousands)

		Opening		Charged to					Closing
Year	Description	Balance		Expense		Deductions			Balance

2023	Allowance for estimated credit losses	$	2,158	$	1,428	$	404	⁽¹⁾	$	3,182
2022	Allowance for estimated credit losses	$	1,405	$	1,781	$	1,028	⁽¹⁾	$	2,158
2021	Allowance for estimated credit losses	$	1,388	$	338	$	321	⁽¹⁾	$	1,405

(1) Write-offs of uncollectible accounts receivable.

Note K - Stock-based Compensation - Incentive Stock Options by Exercise Price Range (Details) - $ / shares			12 Months Ended
	Sep. 30, 2023	Sep. 24, 2022	Sep. 30, 2023	Sep. 25, 2021	Sep. 26, 2020
Incentive Stock Options [Member]
Options outstanding (in shares)	271,821	433,359	271,821	447,622	470,420
Options outstanding, weighted-average exercise price (in dollars per share)	$ 147.45	$ 146.98	$ 147.45	$ 146.98	$ 136.62
Exercisable Options (in shares)	102,158		102,158
Exercisable Options, weighted-average exercise price (in dollars per share)	$ 145.91		$ 145.91
Incentive Stock Options [Member] \| Exercise Price Range 1 [Member]
Range of exercise price, lower limit (in dollars per share)		125.83
Share-Based Payment Arrangement, Option, Exercise Price Range, Lower Range Limit		125.83
Range of exercise price, upper limit (in dollars per share)			$ 158.97
Options outstanding (in shares)	136,548		136,548
Options oustanding, weighted-average remaining contractual life (Year)			3 years
Options outstanding, weighted-average exercise price (in dollars per share)	$ 130.26		$ 130.26
Exercisable Options (in shares)	48,508		48,508
Exercisable Options, weighted-average exercise price (in dollars per share)	$ 126.27		$ 126.27
Incentive Stock Options [Member] \| Exercise Price Range 2 [Member]
Range of exercise price, lower limit (in dollars per share)		163.29
Share-Based Payment Arrangement, Option, Exercise Price Range, Lower Range Limit		$ 163.29
Range of exercise price, upper limit (in dollars per share)			$ 192.13
Options outstanding (in shares)	135,273		135,273
Options oustanding, weighted-average remaining contractual life (Year)			1 year 9 months 18 days
Options outstanding, weighted-average exercise price (in dollars per share)	$ 164.81		$ 164.81
Exercisable Options (in shares)	53,650		53,650
Exercisable Options, weighted-average exercise price (in dollars per share)	$ 163.67		$ 163.67
Non-qualified Stock Options [Member]
Options outstanding (in shares)	211,378	228,318	211,378	293,737	346,442
Options outstanding, weighted-average exercise price (in dollars per share)	$ 140.79	$ 132.29	$ 140.79	$ 132.29	$ 122.04
Exercisable Options (in shares)	161,128		161,128
Exercisable Options, weighted-average exercise price (in dollars per share)	$ 136.55		$ 136.55
Non-qualified Stock Options [Member] \| Exercise Price Range 1 [Member]
Range of exercise price, lower limit (in dollars per share)	94.24
Share-Based Payment Arrangement, Option, Exercise Price Range, Lower Range Limit	$ 94.24
Range of exercise price, upper limit (in dollars per share)			$ 119.44
Options outstanding (in shares)	60,000		60,000
Options oustanding, weighted-average remaining contractual life (Year)			2 years
Options outstanding, weighted-average exercise price (in dollars per share)	$ 110.51		$ 110.51
Exercisable Options (in shares)	60,000		60,000
Exercisable Options, weighted-average exercise price (in dollars per share)	$ 110.51		$ 110.51
Non-qualified Stock Options [Member] \| Exercise Price Range 2 [Member]
Range of exercise price, lower limit (in dollars per share)	125.83
Share-Based Payment Arrangement, Option, Exercise Price Range, Lower Range Limit	$ 125.83
Range of exercise price, upper limit (in dollars per share)			$ 153.65
Options outstanding (in shares)	91,544		91,544
Options oustanding, weighted-average remaining contractual life (Year)			4 years 6 months
Options outstanding, weighted-average exercise price (in dollars per share)	$ 139.28		$ 139.28
Exercisable Options (in shares)	61,784		61,784
Exercisable Options, weighted-average exercise price (in dollars per share)	$ 135.71		$ 135.71
Non-qualified Stock Options [Member] \| Exercise Price Range 3 [Member]
Range of exercise price, lower limit (in dollars per share)		163.29
Share-Based Payment Arrangement, Option, Exercise Price Range, Lower Range Limit		$ 163.29
Range of exercise price, upper limit (in dollars per share)			$ 191.4
Options outstanding (in shares)	59,834		59,834
Options oustanding, weighted-average remaining contractual life (Year)			3 years 1 month 6 days
Options outstanding, weighted-average exercise price (in dollars per share)	$ 173.46		$ 173.46
Exercisable Options (in shares)	39,344		39,344
Exercisable Options, weighted-average exercise price (in dollars per share)	$ 177.58		$ 177.58

Note H - Income Taxes

12 Months Ended

Sep. 30, 2023

Income Tax Disclosure [Text Block]

NOTE H – INCOME TAXES

Income tax expense (benefit) is as follows:

	Fiscal year ended
	September 30,			September 24,			September 25,
	2023			2022			2021
	(in thousands)

Current
U.S. Federal	$	6,447		$	(374	)	$	13,964
Foreign		6,149			2,854			860
State		4,349			3,210			6,431
Total current expense		16,945			5,690			21,255


Deferred
U.S. Federal	$	12,134		$	10,834		$	(145	)
Foreign		232			(394	)		(353	)
State		(703	)		(1,611	)		(2,338	)
Total deferred expense (benefit)		11,663			8,829			(2,836	)
Total expense	$	28,608		$	14,519		$	18,419

The provisions for income taxes differ from the amounts computed by applying the statutory federal income tax rate of 21% for the fiscal years ended 2023, 2022 and 2021 to earnings before income taxes for the following reasons:

	Fiscal year ended
	September 30,		September 24,			September 25,
	2023		2022			2021
	(in thousands)

Income taxes at federal statutory rates	$	22,578	$	12,968		$	15,545
Increase (decrease) in taxes resulting from:
State income taxes, net of federal income tax benefit		2,732		1,261			3,233
Share-based compensation		62		162			(124	)
Tax effect in jurisdictions where rates differ from federal statutory rate		1,837		424			156
Other, net		1,399		(296	)		(391	)
Income tax expense	$	28,608	$	14,519		$	18,419

Our effective tax rate in fiscal 2023 was 26.6%. Our effective tax rate in our fiscal 2022 year was 23.5% and our effective tax rate in fiscal 2021 was 24.9%.

Deferred tax assets and liabilities consist of the following:

	Fiscal year ended
	September 30,			September 24,
	2023			2022
	(in thousands)

Deferred tax assets:
Vacation accrual	$	1,215		$	1,321
Capital loss carry forwards		224			17
Unrealized gains/losses		451			504
Accrued insurance liability		3,511			3,614
Operating lease liabilities		23,996			14,521
Deferred income		44			10
Allowances		2,879			2,598
Inventory capitalization		1,702			1,620
Share-based compensation		1,960			1,680
Net operating loss		940			538
Payroll tax accrual		-			1,142
Bonus accrual		2,282			-
Foreign tax credit		250			404
Total deferred tax assets		39,454			27,969
Valuation allowance		(675	)		(521	)
Total deferred tax assets, net		38,779			27,448

Deferred tax liabilities:
Amortization of goodwill and other intangible assets		35,363			32,680
Depreciation of property, plant and equipment		61,185			51,972
Right-of-use assets		22,688			13,058
Accounting method change 481(a)		853			145
Total deferred tax liabilities		120,089			97,855
Total deferred tax liabilities, net	$	81,310		$	70,407

As of September 30, 2023, we have federal and state capital loss carry forwards of approximately $0.8 million primarily from the sale of marketable securities in fiscal year 2017 and unrealized losses incurred in fiscal years 2019 and 2020. These carry forwards began to expire in fiscal 2021. Except for current year usage, we have no foreseeable capital gains that would allow us to use this asset. Accordingly, we have recorded a valuation allowance for the full amount of this deferred tax asset.

As of September 30, 2023, we have a federal net operating loss carry forward of approximately $2.2 million from the PHILLY SWIRL acquisition. These carry forwards are subject to an annual limitation under Code Section 382 of approximately $0.4 million and will expire in 2033. Additionally, as of September 30, 2023, we have state net operating loss carry forwards of approximately $0.5 million. These state operating losses begin to expire in 2034. We have determined there are no limitations to the total use of these tax assets and, accordingly, have not recorded a valuation allowance for these deferred tax assets.

We have undistributed earnings of our Mexican and Canadian subsidiaries. We are no longer permanently reinvested in earnings of our foreign subsidiaries for any year. No additional U.S. federal income taxes are anticipated if our undistributed earnings in our Mexican and Canadian subsidiaries were repatriated to the U.S. However, if such funds were repatriated, a portion of the funds remitted may be subject to applicable state income taxes and non-U.S. income and withholding taxes. The amount of unrecognized deferred income tax liabilities related to potential state income tax and foreign withholding taxes is immaterial.

The Coronavirus, Aid, Relief and Economic Security (“CARES”) Act was signed into law on March 27, 2020, which introduced and revised numerous provisions including a technical correction to qualified improvement property for assets placed in service after 2017 through 2022 to allow for immediate depreciation to be claimed on these assets and the deferral of employer’s share of certain payroll taxes. As a result of the CARES Act, we deferred $4.3 million of payroll taxes as of September 24, 2022. No payroll taxes were deferred as of September 30, 2023.

On August 16, 2022, the Inflation Reduction Act of 2022 (“IRA”) was signed into law. The IRA made several changes to the U.S. tax code effective after December 31, 2022, including, but not limited to, a 15% minimum tax on large corporations with average annual financial statement income of more than $1 billion for a three tax-year period and a 1% excise tax on public company stock buybacks, which will be accounted for in treasury stock. We do not expect these changes to have a material impact on our provision for income taxes or financial statements.

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

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Note M - Cash Flow Information

12 Months Ended

Sep. 30, 2023

Cash Flow, Supplemental Disclosures [Text Block]

NOTE M – CASH FLOW INFORMATION

The following is supplemental cash flow information:

	Fiscal year ended
	September 30,		September 24,		September 25,
	2023		2022		2021
			(in thousands)
Cash paid for:
Interest	$	4,745	$	945	$	29
Income taxes		8,617		16,814		11,556

Non cash items:
Obtaining a right-of-use asset in exchange for a lease liability	$	54,050	$	11,783	$	685

Note H - Income Taxes (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2023	Sep. 24, 2022	Sep. 25, 2021
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%	21.00%	21.00%
Effective Income Tax Rate Reconciliation, Percent	26.60%	23.50%	24.90%
Accrual for Taxes Other than Income Taxes	$ 0	$ 4,300
Domestic Tax Authority [Member]
Operating Loss Carryforwards	800
Domestic Tax Authority [Member] \| Internal Revenue Service (IRS) [Member] \| PHILLY SWIRL [Member]
Operating Loss Carryforwards	2,200
Operating Loss Carryforwards, Subject to Limitation and Expiration	400
Operating Loss Carryforwards, Valuation Allowance	0
State and Local Jurisdiction [Member]
Operating Loss Carryforwards, Subject to Limitation and Expiration	$ 500

Note A - Summary of Significant Accounting Policies - Calculation of EPS (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Sep. 30, 2023	Sep. 24, 2022	Sep. 25, 2021
Net earnings available to common stockholders	$ 78,906	$ 47,235	$ 55,607
Net earnings available to common stockholders (in shares)	19,257	19,148	19,013
Net earnings available to common stockholders (in dollars per share)	$ 4.1	$ 2.47	$ 2.92
Options	$ 0	$ 0	$ 0
Options (in shares)	67	65	120
Options (in dollars per share)	$ (0.02)	$ (0.01)	$ (0.01)
Net earnings available to common stockholders plus assumed conversions	$ 78,906	$ 47,235	$ 55,607
Net earnings available to common stockholders plus assumed conversions (in shares)	19,324	19,213	19,133
Net earnings available to common stockholders plus assumed conversions (in dollars per share)	$ 4.08	$ 2.46	$ 2.91

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities, and addition from assumption of issuance of common shares for dilutive potential common shares; of income (loss) available to common shareholders.

Note C - Investment Securities

12 Months Ended

Sep. 30, 2023

Fair Value Disclosures [Text Block]

NOTE C – INVESTMENT SECURITIES

We have classified our investment securities as marketable securities held to maturity and available for sale. The FASB defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. As a basis for considering such assumptions, the FASB has established three levels of inputs that may be used to measure fair value:

Level 1 Observable inputs such as quoted prices in active markets for identical assets or liabilities;

Level 2 Observable inputs, other than Level 1 inputs in active markets, that are observable either directly or indirectly; and

Level 3 Unobservable inputs for which there is little or no market data, which require the reporting entity to develop its own assumptions.

Marketable securities held to maturity and available for sale consist primarily of investments in mutual funds, preferred stock and corporate bonds. The fair values of mutual funds are based on quoted market prices in active markets and are classified within Level 1 of the fair value hierarchy. The fair values of preferred stock and corporate bonds are based on quoted prices for identical or similar instruments in markets that are not active. As a result, preferred stock and corporate bonds are classified within Level 2 of the fair value hierarchy.

As of September 30, 2023, the Company held no held to maturity investment securities or marketable securities available for sale.

As of the end of fiscal 2023, the Company did not hold any mutual fund investments. However, during the fiscal year, the mutual funds held sought current income with an emphasis on maintaining low volatility and overall moderate duration. The mutual funds generated income of about 6.8% in the fiscal year. As of the end of fiscal 2023, the Company was not invested in Fixed-to-Floating Perpetual Preferred Stock. However, during the fiscal year, the Company held investments in Fixed-to-Floating Perpetual Preferred Stock which generated fixed income to call dates in 2025 and then income was based on a spread above LIBOR if the securities were not called. The annual yield from these investments was 6.1% in the fiscal year, of which 50% is not subject to income tax. As of the end of fiscal 2023, the Company held no held to maturity investment securities. However, during the fiscal year, the Company was invested in corporate bonds which generated fixed income to maturity dates in 2023. The bonds generated income of about 1.7% in the fiscal year based on purchase price.

As of September 30, 2023, the Company had no held to maturity marketable securities. The amortized cost, unrealized gains and losses, and fair market values of our marketable securities held to maturity at September 24, 2022 are summarized as follows:

			Gross		Gross		Fair
	Amortized		Unrealized		Unrealized		Market
	Cost		Gains		Losses		Value
	(in thousands)

Corporate Bonds	$	4,011	$	-	$	21	$	3,990
Total marketable securities held to maturity	$	4,011	$	-	$	21	$	3,990

As of September 30, 2023, the Company had no available for sale marketable securities. The amortized cost, unrealized gains and losses, and fair market values of our marketable securities available for sale at September 24, 2022 are summarized as follows:

			Gross		Gross		Fair
	Amortized		Unrealized		Unrealized		Market
	Cost		Gains		Losses		Value
	(in thousands)

Mutual Funds	$	3,588	$	-	$	742	$	2,846
Preferred Stock		2,816		46		-		2,862
Total marketable securities available for sale	$	6,404	$	46	$	742	$	5,708

As of September 30, 2023, the Company had no held to maturity securities. The amortized cost and fair value of the Company’s held to maturity securities by contractual maturity at September 24, 2022 are summarized as follows:

			Fair
	Amortized		Market
	Cost		Value

Due in one year or less	$	4,011	$	3,990
Due after one year through five years		-		-
Due after five years through ten years		-		-
Total held to maturity securities	$	4,011	$	3,990
Less current portion		4,011		3,990
Long term held to maturity securities	$	-	$	-

Proceeds from the sale and redemption of marketable securities were $9.7 million, $12.0 million, and $60.9 million in the years ended September 30, 2023, September 24, 2022, and September 25, 2021, respectively; with a loss of $0.7 million in 2023, a gain of $0.3 million in 2022 and a gain of $0.2 million in 2021. We use the specific identification method to determine the cost of securities sold. Unrealized gains of $0.7 million and $0.3 million were recorded in 2023 and 2022, respectively.

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

Schedule ll - Valuation and Qualifying Accounts - Valuation and Qualifying Accounts (Details) - USD ($)
$ in Thousands

12 Months Ended

Sep. 30, 2023

Sep. 24, 2022

Sep. 25, 2021

Opening balance

$ 2,158

$ 1,405

$ 1,388

Charged to expense

1,428

1,781

338

Deductions

^[1]

404

1,028

321

Closing balance

$ 3,182

$ 2,158

$ 1,405

[1]	Write-offs of uncollectible accounts receivable.

Note O - Accumulated Other Comprehensive Loss (Tables)

12 Months Ended

Sep. 30, 2023

Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]

	Fiscal Year Ended September 30, 2023
	(in thousands)

	Foreign Currency
	Translation Adjustments

Beginning Balance	$	(13,713	)
Other comprehensive income		3,547
Ending Balance	$	(10,166	)

	Fiscal Year Ended September 24, 2022
	(in thousands)

	Foreign Currency
	Translation Adjustments

Beginning Balance	$	(13,383	)
Other comprehensive (loss)		(330	)
Ending Balance	$	(13,713	)

Note E - Property, Plant and Equipment - Summary of Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Sep. 24, 2022
Property, plant and equipment, at cost	$ 960,198	$ 860,050
Less accumulated depreciation and amortization	574,295	524,683
Property, plant and equipment, net	385,903	335,367
Land [Member]
Property, plant and equipment, at cost	3,684	3,714
Building [Member]
Property, plant and equipment, at cost	$ 45,538	34,232
Building [Member] \| Minimum [Member]
Property, plant and equipment, estimated useful life (Year)	15 years
Building [Member] \| Maximum [Member]
Property, plant and equipment, estimated useful life (Year)	39 years 6 months
Machinery and Equipment [Member]
Property, plant and equipment, at cost	$ 445,299	374,566
Machinery and Equipment [Member] \| Minimum [Member]
Property, plant and equipment, estimated useful life (Year)	5 years
Machinery and Equipment [Member] \| Maximum [Member]
Property, plant and equipment, estimated useful life (Year)	20 years
Equipment [Member]
Property, plant and equipment, at cost	$ 296,482	274,904
Equipment [Member] \| Minimum [Member]
Property, plant and equipment, estimated useful life (Year)	5 years
Equipment [Member] \| Maximum [Member]
Property, plant and equipment, estimated useful life (Year)	7 years
Transportation Equipment [Member]
Property, plant and equipment, at cost	$ 14,367	11,685
Property, plant and equipment, estimated useful life (Year)	5 years
Office Equipment [Member]
Property, plant and equipment, at cost	$ 47,393	45,865
Office Equipment [Member] \| Minimum [Member]
Property, plant and equipment, estimated useful life (Year)	3 years
Office Equipment [Member] \| Maximum [Member]
Property, plant and equipment, estimated useful life (Year)	5 years
Improvements [Member]
Property, plant and equipment, at cost	$ 51,319	49,331
Improvements [Member] \| Minimum [Member]
Property, plant and equipment, estimated useful life (Year)	5 years
Improvements [Member] \| Maximum [Member]
Property, plant and equipment, estimated useful life (Year)	20 years
Construction in Progress [Member]
Property, plant and equipment, at cost	$ 56,116	$ 65,753

Document And Entity Information - USD ($)	12 Months Ended
Document And Entity Information - USD ($)	Sep. 30, 2023	Nov. 24, 2023	Mar. 24, 2023
Document Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Sep. 30, 2023
Document Transition Report	false
Entity File Number	000-14616
City Area Code	856
Local Phone Number	665-9533
Entity Registrant Name	J&J SNACK FOODS CORP
Entity Incorporation, State or Country Code	NJ
Entity Tax Identification Number	22-1935537
Entity Address, Address Line One	350 Fellowship Road
Entity Address, Postal Zip Code	08054
Entity Address, City or Town	Mt. Laurel
Entity Address, State or Province	NJ
Title of 12(b) Security	Common Stock, no par value
Trading Symbol	JJSF
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 2,198,173,802
Entity Common Stock, Shares Outstanding (in shares)		19,342,344
Auditor Firm ID	248
Auditor Name	GRANT THORNTON LLP
Auditor Location	Philadelphia, Pennsylvania
Entity Central Index Key	0000785956
Current Fiscal Year End Date	--09-24
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Amendment Flag	false

Note K - Stock-based Compensation - Stock Option Activity (Details) - $ / shares	12 Months Ended
	Sep. 30, 2023	Sep. 24, 2022	Sep. 25, 2021
Incentive Stock Options [Member]
Options outstanding (in shares)	433,359	447,622	470,420
Options outstanding, weighted-average exercise price (in dollars per share)	$ 146.98	$ 146.98	$ 136.62
Granted, options (in shares)	0	103,405	111,862
Granted, weighted-average exercise price (in dollars per share)	$ 0	$ 132.38	$ 165.53
Exercised, options (in shares)	(83,401)	(67,782)	(102,976)
Exercised, weighted-average exercise price (in dollars per share)	$ 140.3	$ 131.35	$ 120.83
Canceled, options (in shares)	(78,137)	(49,886)	(31,684)
Canceled, weighted-average exercise price (in dollars per share)	$ 143.96	$ 150.85	$ 143.74
Options outstanding (in shares)	271,821	433,359	447,622
Options outstanding, weighted-average exercise price (in dollars per share)	$ 147.45	$ 146.98	$ 146.98
Exercisable Options (in shares)	102,158
Exercisable Options, weighted-average exercise price (in dollars per share)	$ 145.91
Non-qualified Stock Options [Member]
Options outstanding (in shares)	228,318	293,737	346,442
Options outstanding, weighted-average exercise price (in dollars per share)	$ 132.29	$ 132.29	$ 122.04
Granted, options (in shares)	0	11,545	43,970
Granted, weighted-average exercise price (in dollars per share)	$ 0	$ 132.38	$ 160.14
Exercised, options (in shares)	(11,294)	(60,581)	(55,453)
Exercised, weighted-average exercise price (in dollars per share)	$ 137.81	$ 107.17	$ 120.92
Canceled, options (in shares)	(5,646)	(16,383)	(41,222)
Canceled, weighted-average exercise price (in dollars per share)	$ 153.04	$ 151.5	$ 95.95
Options outstanding (in shares)	211,378	228,318	293,737
Options outstanding, weighted-average exercise price (in dollars per share)	$ 140.79	$ 132.29	$ 132.29
Exercisable Options (in shares)	161,128
Exercisable Options, weighted-average exercise price (in dollars per share)	$ 136.55

Note B - Acquisitions (Tables)

12 Months Ended

Sep. 30, 2023

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]

	Fiscal year ended
	September 30,		September 24,
	2023		2022
	(in thousands)

Net sales	$	95,963	$	33,734
Net earnings	$	13,005	$	4,859

	Preliminary Value
	as of acquisition
	date (as previously		Measurement
	reported as of		Period
	June 25, 2022)		Adjustment			As Adjusted
	(in thousands)

Cash and cash equivalents	$	2,259				$	2,259
Accounts receivable, net		12,257					12,257
Inventories		8,812		(301	)		8,511
Prepaid expenses and other		1,215					1,215
Property, plant and equipment, net		24,622		6,548			31,170
Intangible assets		120,400		(2,200	)		118,200
Goodwill (1)		66,634		(3,397	)		63,237
Operating lease right-of-use assets		3,514					3,514
Other noncurrent assets		243					243
Total assets acquired		239,956		650			240,606
Liabilities assumed:
Current lease liabilities		619					619
Accounts payable		6,005					6,005
Other current liabilities		3,532		650			4,182
Noncurrent lease liabilities		2,954					2,954
Other noncurrent liabilities		3,285					3,285
Total liabilities acquired		16,395		650			17,045
Purchase price	$	223,561	$	-		$	223,561

Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block]

	Weighted average		June 21,
	life (years)		2022
			(in thousands)
Amortizable
Trade name	indefinite		$	76,900
Developed technology		10		22,900
Customer relationships		10		9,900
Franchise agreements		10		8,500
Total acquired intangible assets			$	118,200

Business Acquisition, Pro Forma Information [Table Text Block]

	Fiscal year ended
	September 24,		September 25,
	2022		2021
	(in thousands)

Net sales	$	1,428,505	$	1,209,055
Net earnings	$	49,191	$	61,001

Earnings per diluted share	$	2.56	$	3.19
Weighted average number of diluted shares		19,213		19,133

Note P - Leases - Supplemental Cash Flow Information Related to Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2023	Sep. 24, 2022	Sep. 25, 2021
Operating cash flows from operating leases	$ 17,536	$ 16,505
Operating cash flows from finance leases	22	13
Financing cash flows from finance leases	180	279
Supplemental noncash information on lease liabilities arising from obtaining right-of-use assets	54,050	11,783	$ 685
Supplemental noncash information on lease liabilities removed due to purchase of leased asset	$ 0	$ 0

Note P - Leases (Tables)

12 Months Ended

Sep. 30, 2023

Lease, Cost [Table Text Block]

	Fiscal year ended		Fiscal year ended
	September 30, 2023		September 24, 2022
Operating lease cost in Cost of goods sold and Operating expenses	$	17,352	$	15,611
Finance lease cost:
Amortization of assets in Cost of goods sold and Operating expenses	$	270	$	160
Interest on lease liabilities in Interest expense & other		22		13
Total finance lease cost	$	292	$	173
Short-term lease cost in Cost of goods sold and Operating expenses		-		-
Total net lease cost	$	17,644	$	15,784

Assets and Liabilities, Lessee [Table Text Block]

	September 30, 2023		September 24, 2022
Operating Leases
Operating lease right-of-use assets	$	88,868	$	51,137

Current operating lease liabilities	$	16,478	$	13,524
Noncurrent operating lease liabilities		77,631		42,660
Total operating lease liabilities	$	94,109	$	56,184

Finance Leases
Finance lease right-of-use assets in Property, plant and equipment, net	$	789	$	328

Current finance lease liabilities	$	201	$	124
Noncurrent finance lease liabilities		600		254
Total finance lease liabilities	$	801	$	378

Lessee, Cash Flow Information [Table Text Block]

	Fiscal year ended		Fiscal year ended
	September 30, 2023		September 24, 2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	17,536	$	16,505
Operating cash flows from finance leases	$	22	$	13
Financing cash flows from finance leases	$	180	$	279

Supplemental noncash information on lease liabilities arising from obtaining right-of-use assets	$	54,050	$	11,783
Supplemental noncash information on lease liabilities removed due to purchase of leased asset	$	-	$	-

Lessee, Lease Liability, Maturity [Table Text Block]

	Operating Leases			Finance Leases
2024	$	20,073		$	237
2025		16,312			189
2026		13,069			154
2027		11,983			153
2028		8,806			109
Thereafter		49,504			36
Total minimum payments		119,747			878
Less amount representing interest		(25,638	)		(77	)
Present value of lease obligations	$	94,109		$	801

Note L - 401(k) Profit-sharing Plan

12 Months Ended

Sep. 30, 2023

Retirement Benefits [Text Block]

NOTE L – 401(k) PROFIT‑SHARING PLAN

We maintain a 401(k) profit-sharing plan for our employees. Under this plan, we may make discretionary profit‑sharing and matching 401(k) contributions. Contributions of $2.8 million, $2.5 million, and $2.3 million were made in fiscal years 2023, 2022 and 2021, respectively.

The entire disclosure for retirement benefits.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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Note L - 401(k) Profit-sharing Plan (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2023	Sep. 24, 2022	Sep. 25, 2021
Defined Contribution Plan, Employer Discretionary Contribution Amount	$ 2.8	$ 2.5	$ 2.3

Note K - Stock-based Compensation - Restricted Stock Unit Activity (Details) - Restricted Stock Units (RSUs) [Member] - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Sep. 30, 2023	Sep. 24, 2022	Sep. 25, 2021
Balance, number (in shares)	9,200	0
Balance, weighted average grant per share (in dollars per share)	$ 154.85	$ 0
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)	21,864	9,200	0
Granted, weighted average grant per share (in dollars per share)	$ 154.32	$ 154.85
Vested, number (in shares)	(3,165)	0	0
Vested, weighted average grant per share (in dollars per share)	$ 154.94	$ 0
Balance, weighted average remaining contractual life (Year)	2 years 2 months 12 days	2 years 1 month 6 days
Balance, number (in shares)	27,899	9,200	0
Balance, weighted average grant per share (in dollars per share)	$ 154.46	$ 154.85	$ 0
Balance, aggregate intrinsic value	$ 4,566

Note P - Leases

12 Months Ended

Sep. 30, 2023

Lessee, Leases [Text Block]

NOTE P – LEASES

General Lease Description

We have operating leases with initial noncancelable lease terms in excess of one year covering the rental of various facilities and equipment. Certain of these leases contain renewal options and some provide options to purchase during the lease term. Our operating leases include leases for real estate from some of our office, warehouse, and manufacturing facilities as well as manufacturing and non-manufacturing equipment used in our business. The remaining lease terms for these operating leases range from 1 month to 20 years.

We have finance leases with initial noncancelable lease terms in excess of one year covering the rental of various equipment. These leases are generally for manufacturing and non-manufacturing equipment used in our business. The remaining lease terms for these finance leases range from 1 year to 5 years.

Significant Assumptions and Judgments

Contract Contains a Lease

In evaluating our contracts to determine whether a contract is or contains a lease, we considered the following:

●

Whether explicitly or implicitly identified assets have been deployed in the contract; and

●

Whether we obtain substantially all of the economic benefits from the use of that underlying asset, and we can direct how and for what purpose the asset is used during the term of the contract.

Allocation of Consideration

In determining how to allocate consideration between lease and non-lease components in a contract that was deemed to contain a lease, we used judgment and consistent application of assumptions to reasonably allocate the consideration.

Options to Extend or Terminate Leases

We have leases which contain options to extend or terminate the leases. On a lease-by-lease basis, we have determined if the extension should be considered reasonably certain to be exercised and thus a right-of-use asset and a lease liability should be recorded.

Discount Rate

The discount rate for leases, if not explicitly stated in the lease, is the incremental borrowing rate, which is the rate of interest that a lessee would have to pay to borrow on a collateralized basis over a similar term an amount equal to the lease payments in a similar economic environment.

We used a discount rate to calculate the present value of the lease liability at the date of adoption. In the development of the discount rate, we considered our internal borrowing rate, treasury security rates, collateral, and credit risk specific to us, and our lease portfolio characteristics.

As of September 30, 2023, the weighted-average discount rate of our operating and finance leases was 4.4% and 3.9%, respectively. As of September 24, 2022, the weighted-average discount rate of our operating and finance leases was 3.3% and 3.2%, respectively.

Amounts Recognized in the Financial Statements

The components of lease expense were as follows:

	Fiscal year ended		Fiscal year ended
	September 30, 2023		September 24, 2022
Operating lease cost in Cost of goods sold and Operating expenses	$	17,352	$	15,611
Finance lease cost:
Amortization of assets in Cost of goods sold and Operating expenses	$	270	$	160
Interest on lease liabilities in Interest expense & other		22		13
Total finance lease cost	$	292	$	173
Short-term lease cost in Cost of goods sold and Operating expenses		-		-
Total net lease cost	$	17,644	$	15,784

Supplemental balance sheet information related to leases is as follows:

	September 30, 2023		September 24, 2022
Operating Leases
Operating lease right-of-use assets	$	88,868	$	51,137

Current operating lease liabilities	$	16,478	$	13,524
Noncurrent operating lease liabilities		77,631		42,660
Total operating lease liabilities	$	94,109	$	56,184

Finance Leases
Finance lease right-of-use assets in Property, plant and equipment, net	$	789	$	328

Current finance lease liabilities	$	201	$	124
Noncurrent finance lease liabilities		600		254
Total finance lease liabilities	$	801	$	378

Supplemental cash flow information related to leases is as follows:

	Fiscal year ended		Fiscal year ended
	September 30, 2023		September 24, 2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	17,536	$	16,505
Operating cash flows from finance leases	$	22	$	13
Financing cash flows from finance leases	$	180	$	279

Supplemental noncash information on lease liabilities arising from obtaining right-of-use assets	$	54,050	$	11,783
Supplemental noncash information on lease liabilities removed due to purchase of leased asset	$	-	$	-

As of September 30, 2023, the maturities of lease liabilities were as follows:

	Operating Leases			Finance Leases
2024	$	20,073		$	237
2025		16,312			189
2026		13,069			154
2027		11,983			153
2028		8,806			109
Thereafter		49,504			36
Total minimum payments		119,747			878
Less amount representing interest		(25,638	)		(77	)
Present value of lease obligations	$	94,109		$	801

As of September 30, 2023, the weighted-average remaining term of our operating and finance leases was 10.3 years and 4.2 years, respectively. As of September 24, 2022, the weighted average remaining term of our operating and finance leases was 5.8 years and 3.3 years, respectively.

Note A - Summary of Significant Accounting Policies (Details Textual) $ in Thousands	12 Months Ended
	Sep. 30, 2023 USD ($) shares	Sep. 24, 2022 USD ($) shares	Sep. 25, 2021 USD ($) shares
Contract with Customer, Asset, Allowance for Deductions	$ 18,900	$ 14,700
Accounts Receivable, Allowance for Credit Loss	3,200	2,200
Cash, Uninsured Amount	14,000
Accounts Receivable, after Allowance for Credit Loss	$ 198,100	208,200
Employees Covered Under Collective Bargaining Agreement, Percentage	28.00%
Unrecognized Tax Benefits	$ 343	343
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued	$ 300	$ 300
Effective Income Tax Rate Reconciliation, Percent	26.60%	23.50%	24.90%
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) \| shares	252,044	287,558	284,480
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Rate		25.80%	25.80%
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Risk Free Interest Rate		0.80%	0.80%
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Dividend Rate		1.60%	1.40%
Advertising Expense	$ 9,700	$ 7,000	$ 4,900
Unrecorded Unconditional Purchase Obligation	125,000
Research and Development Expense	$ 1,200	$ 700	$ 600
Five Year Options [Member]
Share Based Compensation Arrangement by Share Based Payment Award Fair Value Assumptions Volatility Calculation Term (Month)		51 months
Ten Year Options [Member]
Share Based Compensation Arrangement by Share Based Payment Award Fair Value Assumptions Volatility Calculation Term (Month)		10 years
Restricted Stock Units (RSUs) [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Shares Issued in Period (in shares) \| shares	21,864	9,200	0
Performance Shares [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Shares Issued in Period (in shares) \| shares	21,260	8,868	0
Revenue Benchmark [Member] \| Customer Concentration Risk [Member]
Number of Major Customers	10	10	10
Minimum [Member]
Finite-Lived Intangible Asset, Useful Life (Year)	2 years
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Term (Year)		4 years	4 years
Maximum [Member]
Finite-Lived Intangible Asset, Useful Life (Year)	20 years
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Term (Year)		10 years	10 years
Customer Group One [Member]
Approximate Number of Customers	31
Customer Group One [Member] \| Minimum [Member]
Accounts Receivable, after Allowance for Credit Loss	$ 1,000
Customer Group One [Member] \| Maximum [Member]
Accounts Receivable, after Allowance for Credit Loss	10,000
Five Customers [Member] \| Minimum [Member]
Accounts Receivable, after Allowance for Credit Loss	10,000
Largest Customer [Member]
Accounts Receivable, after Allowance for Credit Loss	$ 24,000
Largest Customer [Member] \| Revenue Benchmark [Member] \| Customer Concentration Risk [Member]
Concentration Risk, Percentage	9.00%	8.00%	11.00%
Top Ten Customers [Member] \| Revenue Benchmark [Member] \| Customer Concentration Risk [Member]
Concentration Risk, Percentage	43.00%	43.00%	43.00%

Note C - Investment Securities (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2023	Sep. 24, 2022	Sep. 25, 2021
Proceeds from Sale and Maturity of Marketable Securities	$ 9,716	$ 12,026	$ 60,891
Marketable Securities, Gain (Loss)	(700)	300	$ 200
Marketable Security, Unrealized Gain (Loss)	$ 700	$ 300
Mutual Fund [Member]
Marketable Securities, Annual Income, Percentage	6.80%
Preferred Stock [Member]
Marketable Securities, Annual Income, Percentage	6.10%
Marketable Securities, Annual Income, Percentage, not Subject to Tax	50.00%
Corporate Bond Securities [Member]
Marketable Securities, Annual Income, Percentage	1.70%

Note H - Income Taxes - Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2023	Sep. 24, 2022	Sep. 25, 2021
Income taxes at federal statutory rates	$ 22,578	$ 12,968	$ 15,545
State income taxes, net of federal income tax benefit	2,732	1,261	3,233
Share-based compensation	62	162	(124)
Tax effect in jurisdictions where rates differ from federal statutory rate	1,837	424	156
Other, net	1,399	(296)	(391)
Total expense	$ 28,608	$ 14,519	$ 18,419

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.