0001437749-20-001469 | 10-Q | XBRL Viewer

Document And Entity Information - shares	3 Months Ended
Document And Entity Information - shares	Dec. 28, 2019	Jan. 23, 2020
Document Information [Line Items]
Entity Central Index Key	0000785956
Entity Registrant Name	J&J SNACK FOODS CORP
Amendment Flag	false
Current Fiscal Year End Date	--09-26
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2020
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Dec. 28, 2019
Document Transition Report	false
Entity File Number	0-14616
Entity Incorporation, State or Country Code	NJ
Entity Tax Identification Number	22-1935537
Entity Address, Address Line One	6000 Central Highway
Entity Address, City or Town	Pennsauken
Entity Address, State or Province	NJ
Entity Address, Postal Zip Code	08109
City Area Code	856
Local Phone Number	665-9533
Title of 12(b) Security	Common Stock, no par value
Trading Symbol	JJSF
Security Exchange Name	NASDAQ
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
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		18,918,943

Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Dec. 28, 2019	Sep. 28, 2019
Current assets
Cash and cash equivalents	$ 170,327	$ 192,395
Marketable securities held to maturity	63,594	51,091
Accounts receivable, net	131,574	140,938
Inventories	125,789	116,165
Prepaid expenses and other	3,862	5,768
Total current assets	495,146	506,357
Property, plant and equipment, at cost
Land	2,494	2,494
Buildings	26,582	26,582
Plant machinery and equipment	324,511	315,360
Marketing equipment	250,308	240,681
Transportation equipment	10,218	9,725
Office equipment	32,072	31,217
Improvements	40,750	40,626
Construction in progress	8,291	10,039
Total Property, plant and equipment, at cost	695,226	676,724
Less accumulated depreciation and amortization	431,596	423,276
Property, plant and equipment, net	263,630	253,448
Other assets
Balance at December 28, 2019	119,484	102,511
Other intangible assets, net	75,848	54,922
Marketable securities held to maturity	55,289	79,360
Marketable securities available for sale	16,541	19,903
Operating lease right-of-use assets	67,376	0
Other	2,792	2,838
Total other assets	337,330	259,534
Total Assets	1,096,106	1,019,339
Current Liabilities
Current finance lease liabilities	342	339
Accounts payable	71,919	72,029
Accrued insurance liability	11,615	10,457
Accrued liabilities	13,140	7,808
Current operating lease liabilities	13,668	0
Accrued compensation expense	12,709	21,154
Dividends payable	10,867	9,447
Total current liabilities	134,260	121,234
Noncurrent finance lease liabilities	628	718
Noncurrent operating lease liabilities	56,465	0
Deferred income taxes	61,730	61,920
Other long-term liabilities	503	1,716
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 18,900,000 and 18,895,000 respectively	47,511	45,744
Accumulated other comprehensive loss	(12,178)	(12,988)
Retained Earnings	807,187	800,995
Total stockholders' equity	842,520	833,751
Total Liabilities and Stockholders' Equity	$ 1,096,106	$ 1,019,339

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares	Dec. 28, 2019	Sep. 28, 2019
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 issued (in shares)	18,900,000	18,895,000
Common stock, shares outstanding (in shares)	18,900,000	18,895,000

Consolidated Statements of Earnings (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Dec. 28, 2019	Dec. 29, 2018
Net Sales	$ 282,897	$ 271,612
Cost of goods sold	205,036	194,749
Gross Profit	77,861	76,863
Operating expenses
Marketing	22,732	21,442
Distribution	23,542	23,952
Administrative	9,618	9,243
Other general expense	266	144
Total Operating Expenses	56,158	54,781
Operating Income	21,703	22,082
Other income (expense)
Investment income	1,786	1,040
Interest expense & other	(26)	(27)
Earnings before income taxes	23,463	23,095
Income tax expense	6,404	5,569
NET EARNINGS	$ 17,059	$ 17,526
Earnings per diluted share (in dollars per share)	$ 0.89	$ 0.93
Weighted average number of diluted shares (in shares)	19,144	18,897
Earnings per basic share (in dollars per share)	$ 0.90	$ 0.93
Weighted average number of basic shares (in shares)	18,898	18,765

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Dec. 28, 2019	Dec. 29, 2018
Net Earnings	$ 17,059	$ 17,526
Foreign currency translation adjustments	810	(1,359)
Total Other Comprehensive Loss	810	(1,359)
Comprehensive Income	$ 17,869	$ 16,167

- Definition

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

+ References + Details

Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - 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. 29, 2018	18,754,000
Balance at Sep. 29, 2018	$ 27,340	$ (11,994)	$ 743,745	$ 759,091
Issuance of common stock upon exercise of stock options (in shares)	20,000
Issuance of common stock upon exercise of stock options	$ 1,704	0	0	1,704
Foreign currency translation adjustment	0	(1,359)	0	(1,359)
Dividends declared	0	0	(9,389)	(9,389)
Share-based compensation	972	0	0	972
Net earnings	0	0	17,526	17,526
Reclass from accumulated other comprehensive gain	$ 0	(85)	85	0
Balance (in shares) at Dec. 29, 2018	18,774,000
Balance at Dec. 29, 2018	$ 30,016	(13,438)	751,967	$ 768,545
Balance (in shares) at Sep. 28, 2019	18,895,000			18,895,000
Balance at Sep. 28, 2019	$ 45,744	(12,988)	800,995	$ 833,751
Issuance of common stock upon exercise of stock options (in shares)	5,000
Issuance of common stock upon exercise of stock options	$ 468	0	0	468
Foreign currency translation adjustment	0	810	0	810
Dividends declared	0	0	(10,867)	(10,867)
Share-based compensation	1,299	0	0	1,299
Net earnings	$ 0	0	17,059	$ 17,059
Balance (in shares) at Dec. 28, 2019	18,900,000			18,900,000
Balance at Dec. 28, 2019	$ 47,511	$ (12,178)	$ 807,187	$ 842,520

- Definition

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

+ References + Details

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Dec. 28, 2019	Dec. 29, 2018
Operating activities:
Net earnings	$ 17,059,000	$ 17,526,000
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation of fixed assets	11,887,000	10,774,000
Amortization of intangibles and deferred costs	843,000	861,000
Share-based compensation	1,299,000	972,000
Deferred income taxes	(231,000)	689,000
Loss on marketable securities	9,000	1,027,000
Other	14,000	82,000
Changes in assets and liabilities net of effects from purchase of companies
Decrease in accounts receivable	10,254,000	14,386,000
Increase in inventories	(8,524,000)	(4,974,000)
Decrease in prepaid expenses	1,922,000	340,000
Decrease in accounts payable and accrued liabilities	(963,000)	(8,872,000)
Net cash provided by operating activities	33,569,000	32,811,000
Investing activities:
Payments for purchases of companies, net of cash acquired	(44,970,000)	0
Purchases of property, plant and equipment	(17,605,000)	(11,837,000)
Purchases of marketable securities	(4,000,000)	(17,513,000)
Proceeds from redemption and sales of marketable securities	18,782,000	17,125,000
Proceeds from disposal of property and equipment	898,000	577,000
Other	38,000	(236,000)
Net cash used in investing activities	(46,857,000)	(11,884,000)
Financing activities:
Proceeds from issuance of stock	468,000	1,704,000
Payments on finance lease obligations	(86,000)	(83,000)
Payment of cash dividend	(9,447,000)	(8,438,000)
Net cash used in financing activities	(9,065,000)	(6,817,000)
Effect of exchange rate on cash and cash equivalents	285,000	(875,000)
Net (decrease) increase in cash and cash equivalents	(22,068,000)	13,235,000
Cash and cash equivalents at beginning of period	192,395,000	111,479,000
Cash and cash equivalents at end of period	$ 170,327,000	$ 124,714,000

Note 1

3 Months Ended

Dec. 28, 2019

Notes to Financial Statements

Significant Accounting Policies [Text Block]

Note 1

The accompanying unaudited Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. They do not include all information and notes required by generally accepted accounting principles for complete financial statements. However, except as disclosed herein, there has been no material change in the information disclosed in the Notes to Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for the year ended September 28, 2019.

In the opinion of management, the accompanying unaudited consolidated financial statements contain all adjustments (consisting of only normal recurring adjustments) necessary to present fairly the financial position and the results of operations and cash flows.

The results of operations for the three months ended December 28, 2019 and December 29, 2018 are not necessarily indicative of results for the full year. Sales of our frozen beverages and frozen juice bars and ices are generally higher in the third and fourth quarters due to warmer weather.

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

While we believe that the disclosures presented are adequate to make the information not misleading, it is suggested that these consolidated financial statements be read in conjunction with the consolidated financial statements and the notes included in the Company’s Annual Report on Form 10-K for the fiscal year ended September 28, 2019.

Note 2

3 Months Ended

Dec. 28, 2019

Notes to Financial Statements

Revenue from Contract with Customer [Text Block]

Note 2

Revenue Recognition

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 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 $15.1 million at December 28, 2019 and $14.8 million at September 28, 2019.

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 contract liability on our balance sheet as follows:

Three Months Ended

December 28,

December 29,

2019

2018

(in thousands)

Beginning Balance
$ 1,334 $ 1,999

Additions to contract liability
1,275 372

Amounts recognized as revenue
(1,515 ) (448 )

Ending Balance
$ 1,094 $ 1,923

Disaggregation of Revenue

See Note 9 for disaggregation of our net sales by class of similar product and type of customer.

Allowance for Doubtful Receivables

We provide an allowance for doubtful receivables after taking into consideration historical experience and other factors. The allowance for doubtful receivables was $465,000 and $572,000 at December 28, 2019 and September 28, 2019, respectively.

Note 3

3 Months Ended

Dec. 28, 2019

Notes to Financial Statements

Property, Plant and Equipment Disclosure [Text Block]

Note 3

Depreciation of equipment and buildings is provided for by the straight-line method over the assets’ estimated useful lives. Amortization of 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 and non-compete agreements arising from acquisitions are amortized by the straight-line method over periods ranging from 2 to 20 years. Depreciation expense was $11,887,000 and $10,774,000 for the three months ended December 28, 2019 and December 29, 2018, respectively.

Note 4

3 Months Ended

Dec. 28, 2019

Notes to Financial Statements

Earnings Per Share [Text Block]

Note 4

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:

	Three Months Ended December 28, 2019
	Income		Shares		Per Share
	(Numerator)		(Denominator)		Amount

	(in thousands, except per share amounts)
Basic EPS
Net Earnings available to common stockholders	$	17,059		18,898	$	0.90

Effect of Dilutive Securities
Options		-		246		(0.01	)

Diluted EPS
Net Earnings available to common stockholders plus assumed conversions	$	17,059		19,144	$	0.89

20,000 anti-dilutive shares have been excluded in the computation of EPS for the three months ended December 28, 2019

	Three Months Ended December 29, 2018
	Income		Shares		Per Share
	(Numerator)		(Denominator)		Amount

	(in thousands, except per share amounts)
Basic EPS
Net Earnings available to common stockholders	$	17,526		18,765	$	0.93

Effect of Dilutive Securities
Options		-		132		-

Diluted EPS
Net Earnings available to common stockholders plus assumed conversions	$	17,526		18,897	$	0.93

500 anti-dilutive shares have been excluded in the computation of EPS for the three months ended December 29, 2018

Note 5

3 Months Ended

Dec. 28, 2019

Notes to Financial Statements

Share-based Payment Arrangement [Text Block]

Note 5

At December 28, 2019, the Company has three stock-based employee compensation plans. Share-based compensation expense was recognized as follows:

	December 28,		December 29,
	2019		2018
	(in thousands, except per share amounts)


Stock Options	$	965	$	629
Stock purchase plan		202		69
Total share-based compensation	$	1,167	$	698

The above compensation is net of tax benefits	$	132	$	274

The fair value of each option grant is estimated on the date of grant using the Black-Scholes options-pricing model.

The Company did not grant any stock options during the fiscal year 2020 three month period.

During the fiscal year 2019 three month period, the Company granted 1,000 stock options. The weighted-average grant date fair value of these options was $27.09

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.

Note 6

3 Months Ended

Dec. 28, 2019

Notes to Financial Statements

Income Tax Disclosure [Text Block]

Note 6

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.

The total amount of gross unrecognized tax benefits is $414,000 on both December 28, 2019 and September 28, 2019, all of which would impact our effective tax rate over time, if recognized. We recognize interest and penalties related to uncertain tax positions as a part of the provision for income taxes. As of December 28, 2019 and September 28, 2019, the Company has $279,000 of accrued interest and penalties.

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 with virtually all open for examination for three to four years.

Net earnings in last year’s quarter benefitted by a reduction of approximately $900,000 in tax as the provision for the one time repatriation tax as a result of the Tax Cuts and Job Act of 2017 was reduced as the amount recorded the year prior was an estimate. Excluding the reduction in the provision for the one time repatriation tax, our effective tax rate was 28.0% in last year’s quarter.

Note 7

3 Months Ended

Dec. 28, 2019

Notes to Financial Statements

New Accounting Pronouncements and Changes in Accounting Principles [Text Block]

Note 7

In February 2016, the FASB issued guidance on lease accounting which requires that an entity recognize most leases on its balance sheet. The guidance retains a dual lease accounting model for purposes of income statement recognition, continuing the distinction between what are currently known as “capital” and “operating” leases for lessees. We adopted the guidance on September 29, 2019 using this alternate transition method, but we did not record a cumulative-effect adjustment from initially applying the standard. We elected the package of practical expedients that permits us not to reassess our prior conclusions about lease identification, lease classification and initial direct costs and made an accounting policy election to exclude short-term leases with an initial term of 12 months or less from our Consolidated Balance Sheets. We have completed the implementation of a lease accounting system to enable the preparation of financial information and have implemented relevant accounting policies and internal controls surrounding the lease accounting process. As a result of adoption, we recognized a right-of-use asset and lease liability of $71 million and $72 million, respectively. The right-of-use asset balance reflects the reclassification of deferred rent and prepaid rent against the initial asset. The adoption did not impact our results of operations or cash flows. See additional lease disclosures in Note 14.

In June 2016, the FASB issued guidance to update the methodology used to measure current expected credit losses ( CECL ). This guidance applies to financial assets measured at amortized cost, including loans, held-to-maturity debt securities, net investments in leases, and trade accounts receivable as well as certain off-balance sheet credit exposures, such as loan commitments. This guidance replaces the current incurred loss impairment methodology with a methodology to reflect CECL and requires consideration of a broader range of reasonable and supportable information to explain credit loss estimates. The guidance must be adopted using a modified retrospective transition method through a cumulative-effect adjustment to retained earnings/(deficit) in the period of adoption. This guidance will be effective beginning in the first quarter of our fiscal year 2021. Early adoption is permitted. We are currently evaluating the impact this guidance will have on our financial statements and related disclosures.

Note 8

3 Months Ended

Dec. 28, 2019

Notes to Financial Statements

Inventory Disclosure [Text Block]

Note 8

Inventories consist of the following:

	December 28,		September 28,
	2019		2019
	(unaudited)
	(in thousands)

Finished goods	$	61,374	$	53,225
Raw materials		23,728		22,146
Packaging materials		9,189		9,703
Equipment parts and other		31,498		31,091
Total Inventories	$	125,789	$	116,165

Note 9

3 Months Ended

Dec. 28, 2019

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

Note 9

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 Makers.

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 group are soft pretzels, frozen juice treats and desserts, churros, dough enrobed handheld products and baked goods. Our customers in the food service industry include snack bars and food stands in chain, department and discount stores; malls and shopping centers; fast food outlets; 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.

Retail Supermarkets

The primary products sold to the retail supermarket channel are soft pretzel products – including SUPERPRETZEL, frozen juice treats and desserts including LUIGI’S Real Italian Ice, MINUTE MAID Juice Bars and Soft Frozen Lemonade, WHOLE FRUIT frozen fruit bars and sorbet, PHILLY SWIRL cups and sticks, ICEE Squeeze-Up Tubes and dough enrobed handheld products including PATIO burritos. 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 and related products to the food service industry primarily under the names ICEE, SLUSH PUPPIE and PARROT ICE in the United States, Mexico and Canada. We also provide repair and maintenance service to customers for customers’ owned equipment.

The Chief Operating Decision Maker for Food Service and Retail Supermarkets and the Chief Operating Decision Maker for Frozen Beverages monthly review 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 Makers and management when determining each segment’s and the company’s financial condition and operating performance. In addition, the Chief Operating Decision Makers review and evaluate depreciation, capital spending and assets of each segment on a quarterly basis to monitor cash flow and asset needs of each segment. Due to a change in management and the reporting of our MARYB’s biscuit operations, which had sales and operating income of $25,316,000 and $1,584,000, respectively, in our 2019 fiscal year, we have reclassified the operations from our Food Service segment to our Retail Supermarket segment, which is reflected in both periods reported. Information regarding the operations in these three reportable segments is as follows:

Three months ended

December 28,

December 29,

2019

2018

(unaudited)

(in thousands)

Sales to External Customers:

Food Service

Soft pretzels
$ 49,941 $ 48,991

Frozen juices and ices
7,043 7,527

Churros
16,391 15,135

Handhelds
7,189 8,802

Bakery
96,372 94,245

Other
6,512 5,326

Total Food Service
$ 183,448 $ 180,026

Retail Supermarket

Soft pretzels
$ 9,826 $ 10,186

Frozen juices and ices
10,093 10,996

Bakery
6,978 7,864

Handhelds
2,761 2,568

Coupon redemption
(543 ) (694 )

Other
311 359

Total Retail Supermarket
$ 29,426 $ 31,279

Frozen Beverages

Beverages
$ 35,255 $ 31,167

Repair and maintenance service
22,486 19,915

Machines revenue
11,981 8,904

Other
301 321

Total Frozen Beverages
$ 70,023 $ 60,307

Consolidated Sales
$ 282,897 $ 271,612

Depreciation and Amortization:

Food Service
$ 6,918 $ 6,322

Retail Supermarket
359 335

Frozen Beverages
5,453 4,978

Total Depreciation and Amortization
$ 12,730 $ 11,635

Operating Income :

Food Service
$ 18,034 $ 17,697

Retail Supermarket
2,217 2,211

Frozen Beverages
1,452 2,174

Total Operating Income
$ 21,703 $ 22,082

Capital Expenditures:

Food Service
$ 8,403 $ 6,278

Retail Supermarket
960 552

Frozen Beverages
8,242 5,007

Total Capital Expenditures
$ 17,605 $ 11,837

Assets:

Food Service
$ 760,852 $ 686,192

Retail Supermarket
30,963 28,100

Frozen Beverages
304,291 219,692

Total Assets
$ 1,096,106 $ 933,984

Note 10

3 Months Ended

Dec. 28, 2019

Notes to Financial Statements

Goodwill and Intangible Assets Disclosure [Text Block]

Note 10

Our three reporting units, which are also reportable segments, are Food Service, Retail Supermarkets and Frozen Beverages.

The carrying amounts of acquired intangible assets for the Food Service, Retail Supermarkets and Frozen Beverage segments as of December 28, 2019 and September 28, 2019 are as follows:

	December 28, 2019				September 28, 2019
	Gross				Gross
	Carrying		Accumulated		Carrying		Accumulated
	Amount		Amortization		Amount		Amortization
			(in thousands)
FOOD SERVICE

Indefinite lived intangible assets
Trade names	$	10,408	$	-	$	10,408	$	-

Amortized intangible assets
Non compete agreements		670		519		858		665
Customer relationships		19,737		10,278		19,900		9,954
License and rights		1,690		1,249		1,690		1,227
TOTAL FOOD SERVICE	$	32,505	$	12,046	$	32,856	$	11,846

RETAIL SUPERMARKETS

Indefinite lived intangible assets
Trade names	$	12,750	$	-	$	12,750	$	-

Amortized Intangible Assets
Trade names		676		422		676		389
Customer relationships		7,907		4,546		7,979		4,421
TOTAL RETAIL SUPERMARKETS	$	21,333	$	4,968	$	21,405	$	4,810


FROZEN BEVERAGES

Indefinite lived intangible assets
Trade names	$	9,315	$	-	$	9,315	$	-
Distribution rights		28,100		-		6,900		-

Amortized intangible assets
Customer relationships		1,306		147		737		102
Licenses and rights		1,400		950		1,400		933
TOTAL FROZEN BEVERAGES	$	40,121	$	1,097	$	18,352	$	1,035

CONSOLIDATED	$	93,959	$	18,111	$	72,613	$	17,691

Fully amortized intangible assets have been removed from the December 28, 2019 amounts. Intangible assets of $21,769,000 were added in the frozen beverages segment from the acquisition of ICEE Distributors.

Amortizing intangible assets are being amortized by the straight-line method over periods ranging from 2 to 20 years and amortization expense is reflected throughout operating expenses. Aggregate amortization expense of intangible assets for the three months ended December 28, 2019 and December 29, 2018 was $843,000 and $855,000, respectively.

Estimated amortization expense for the next five fiscal years is approximately $3,100,000 in 2020, $2,500,000 in 2021, $2,300,000 in 2022, $2,300,000 in 2023 and $2,000,000 in 2024. The weighted amortization period of the intangible assets is 10.7 years.

Goodwill

The carrying amounts of goodwill for the Food Service, Retail Supermarket and Frozen Beverage segments are as follows:

Food

Service

Retail

Supermarket

Frozen

Beverages

Total

(in thousands)

Balance at December 28, 2019
$ 61,189 $ 4,146 $ 54,149 $ 119,484

Balance at September 28, 2019
$ 61,189 $ 4,146 $ 37,176 $ 102,511

Goodwill of $16,973,000 was added in the frozen beverages segment from the acquisition of ICEE Distributors.

Note 11

3 Months Ended

Dec. 28, 2019

Notes to Financial Statements

Fair Value Disclosures [Text Block]

Note 11

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 input 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, corporate bonds and certificates of deposit are based on quoted prices for identical or similar instruments in markets that are not active. As a result, preferred stock, corporate bonds and certificates of deposit are classified within Level 2 of the fair value hierarchy.

The amortized cost, unrealized gains and losses, and fair market values of our investment securities held to maturity at December 28, 2019 are summarized as follows:

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

Corporate Bonds	$	116,003	$	1,234	$	6	$	117,231
Certificates of Deposit		2,880		5		-		2,885
Total marketable securities held to maturity	$	118,883	$	1,239	$	6	$	120,116

The amortized cost, unrealized gains and losses, and fair market values of our investment securities available for sale at December 28, 2019 are summarized as follows:

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

Mutual Funds	$	3,588	$	-	$	389	$	3,199
Preferred Stock		13,126		264		48		13,342
Total marketable securities available for sale	$	16,714	$	264	$	437	$	16,541

The mutual funds seek current income with an emphasis on maintaining low volatility and overall moderate duration. The Fixed-to-Floating Perpetual Preferred Stock generate fixed income to call dates in 2020 and 2025 and then income is based on a spread above LIBOR if the securities are not called. The mutual funds and Fixed-to-Floating Perpetual Preferred Stock 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. The corporate bonds generate fixed income to maturity dates in 2020 through 2024, with $106 million maturing within 2 years. Our expectation is that we will hold the corporate bonds to their maturity dates and redeem them at our amortized cost.

The amortized cost, unrealized gains and losses, and fair market values of our investment securities held to maturity at September 28, 2019 are summarized as follows:

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

Corporate Bonds	$	127,571	$	1,204	$	36	$	128,739
Certificates of Deposit		2,880		6		-		2,886
Total marketable securities held to maturity	$	130,451	$	1,210	$	36	$	131,625

The amortized cost, unrealized gains and losses, and fair market values of our investment securities available for sale at September 28, 2019 are summarized as follows:

Gross

Gross

Fair

Amortized

Unrealized

Unrealized

Market

Cost

Gains

Losses

Value

(in thousands)

Mutual Funds
$ 5,549 $ - $ 495 $ 5,054

Preferred Stock
14,598 266 15 14,849

Total marketable securities available for sale
$ 20,147 $ 266 $ 510 $ 19,903

The amortized cost and fair value of the Company’s held to maturity securities by contractual maturity at December 28, 2019 and September 28, 2019 are summarized as follows:

December 28, 2019

September 28, 2019

Fair

Fair

Amortized

Market

Amortized

Market

Cost

Value

Cost

Value

(in thousands)

Due in one year or less
$ 63,594 $ 63,985 $ 51,091 $ 51,325

Due after one year through five years
55,289 56,131 79,360 80,300

Due after five years through ten years
- - - -

Total held to maturity securities
$ 118,883 $ 120,116 $ 130,451 $ 131,625

Less current portion
63,594 63,985 51,091 51,325

Long term held to maturity securities
$ 55,289 $ 56,131 $ 79,360 $ 80,300

Proceeds from the redemption and sale of marketable securities were $18,782,000 in the three months ended December 28, 2019 and $17,125,000 in the three ended December 29, 2018, respectively. Losses of $11,000 and $1,027,000 were recorded in the three months ended December 28, 2019 and December 28, 2018, respectively, which included unrealized gains on marketable securities of $71,000 and unrealized losses on marketable securities of $1,027,000 in the three months ended December 28, 2019 and December 29, 2018, respectively. We use the specific identification method to determine the cost of securities sold.

- Definition

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.

+ References + Details

Note 12

3 Months Ended

Dec. 28, 2019

Notes to Financial Statements

Comprehensive Income (Loss) Note [Text Block]

Note 12

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

	Three Months ended December 28, 2019
	(unaudited)
	(in thousands)


	*Foreign Currency*
	*Translation Adjustments*			*Total*

Beginning Balance	$	(12,988	)	$	(12,988	)

Other comprehensive gain		810			810
Ending Balance	$	(12,178	)	$	(12,178	)

	Three Months ended December 29, 2018
	(unaudited)
	(in thousands)

				*Unrealized Holding*
	*Foreign Currency*			*Gain on*
	*Translation Adjustments*			*Marketable Securities*			*Total*

Beginning Balance	$	(12,079	)	$	85		$	(11,994	)

Other comprehensive loss before reclassifications		(1,359	)		-		$	(1,359	)

Amounts reclassified from accumulated other comprehensive income		-			(85	)		(85	)

Ending Balance	$	(13,438	)	$	-		$	(13,438	)

Note 13

3 Months Ended

Dec. 28, 2019

Notes to Financial Statements

Business Combination Disclosure [Text Block]

Note 13

On October 1, 2019, we acquired the assets of ICEE Distributors LLC, based in Bossier City, Louisiana. ICEE Distributors does business in Arkansas, Louisiana and Texas with annual sales of approximately $13 million. Sales and operating income of ICEE Distributors were approximately $2.5 million and $500,000 for the three months ended December 28, 2019.

The preliminary purchase price allocation for the acquisition is as follows:

	(in thousands)

Accounts Receivable, net	$	722
Inventories		866
Property, plant & equipment, net		4,851
Customer Relationships		569
Distribution rights		21,200
Goodwill		16,973
Accounts Payable		(210	)
Purchase Price	$	44,970

The goodwill recognized is attributable to the assembled workforce of ICEE Distributors and certain other strategic intangible assets that do not meet the requirements for recognition separate and apart from goodwill.

Acquisition costs of $36,000 are included in other general expense for the three months ended December 28, 2019.

Our unaudited proforma results, giving effect to this acquisition and assuming an acquisition date of September 29, 2018, would have been:

	(in thousands)

	Three months ended
	December 28,		December 29,
	2019		2018

Net Sales	$	282,897	$	273,857

Net Earnings	$	17,059	$	17,510

Note 14

3 Months Ended

Dec. 28, 2019

Notes to Financial Statements

Lessee, Leases [Text Block]

Note 14 – 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 for some of our office 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 13 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 6 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 we 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 the 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 incremental borrowing rate as provided by our lender which was based on cash collateral and credit risk specific to us, and our lease portfolio characteristics.

As of September 29, 2019, the weighted-average discount rate of our operating and finance leases was 3.3% and 3.1%, respectively.

Practical Expedients and Accounting Policy Elections

We elected the package of practical expedients that permits us not to reassess our prior conclusions about lease identification, lease classification and initial direct costs and made an accounting policy election to exclude short-term leases with an initial term of 12 months or less from our Consolidated Balance Sheets.

Amounts Recognized in the Financial Statements

The components of lease expense were as follows:

Three Months Ended

December 28, 2019

(in thousands)

Operating lease cost in Cost of goods sold and Operating Expenses
$ 4,279

Finance lease cost:

Amortization of assets in Cost of goods sold and Operating Expenses
85

Interest on lease liabilities in Interest expense & other
8

Total finance lease cost
93

Short-term lease cost in Cost of goods sold and Operating Expenses
-

Total net lease cost
$ 4,372

Supplemental balance sheet information related to leases is as follows:

December 28, 2019

(in thousands)

Operating Leases

Operating lease right-of-use assets
$ 67,376

Current operating lease liabilities
$ 13,668

Noncurrent operating lease liabilities
56,465

Total operating lease liabilities
$ 70,133

Finance Leases

Finance lease right-of-use assets in Property, plant and equipment, net
$ 957

Current finance lease liabilities
$ 342

Noncurrent finance lease liabilities
628

Total finance lease liabilities
$ 970

Supplemental cash flow information related to leases is as follows:

Three Months Ended

December 28, 2019

(in thousands)

Cash paid for amounts included in the measurement of lease liabilities:

Operating cash flows from operating leases
$ 4,244

Operating cash flows from finance leases
$ 86

Financing cash flows from finance leases
$ 7

Supplemental noncash information on lease liabilities arising from obtaining right-of-use assets
$ -

Supplemental noncash information on lease liabilities removed due to purchase of leased asset
$ -

As of December 28, 2019, the maturities of lease liabilities were as follows:

(in thousands)

Operating Leases

Finance Leases

Nine months ending June 30, 2020
$ 12,089 $ 273

2021
13,859 369

2022
11,577 168

2023
9,727 98

2024
7,406 98

Thereafter
24,754 26

Total minimum payments
$ 79,412 $ 1,032

Less amount representing interest
(9,279 ) (62 )

Present value of lease obligations
$ 70,133 $ 970

As of December 28, 2019, the weighted-average remaining term of our operating and finance leases was 7.3 years and 4.0 years, respectively.

As previously disclosed in our 2019 Annual Report on Form 10-K and under the previous lease accounting standard (Topic 840), as of September 28, 2019, future minimum lease payments under noncancelable leases with initial lease terms in excess of one year were as follows:

(in thousands)

Operating Leases

Capital Leases

2020
$ 14,814 $ 339

2021
12,686 349

2022
10,491 156

2023
8,971 91

2024
6,988 95

Thereafter
25,588 27

Total minimum payments
$ 79,538 $ 1,057

Note 2 (Tables)

3 Months Ended

Dec. 28, 2019

Notes Tables

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

	Three Months Ended
	December 28,			December 29,
	2019			2018
	(in thousands)

Beginning Balance	$	1,334		$	1,999
Additions to contract liability		1,275			372
Amounts recognized as revenue		(1,515	)		(448	)
Ending Balance	$	1,094		$	1,923

Note 4 (Tables)

3 Months Ended

Dec. 28, 2019

Notes Tables

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

	Three Months Ended December 28, 2019
	Income		Shares		Per Share
	(Numerator)		(Denominator)		Amount

	(in thousands, except per share amounts)
Basic EPS
Net Earnings available to common stockholders	$	17,059		18,898	$	0.90

Effect of Dilutive Securities
Options		-		246		(0.01	)

Diluted EPS
Net Earnings available to common stockholders plus assumed conversions	$	17,059		19,144	$	0.89

	Three Months Ended December 29, 2018
	Income		Shares		Per Share
	(Numerator)		(Denominator)		Amount

	(in thousands, except per share amounts)
Basic EPS
Net Earnings available to common stockholders	$	17,526		18,765	$	0.93

Effect of Dilutive Securities
Options		-		132		-

Diluted EPS
Net Earnings available to common stockholders plus assumed conversions	$	17,526		18,897	$	0.93

Note 5 (Tables)

3 Months Ended

Dec. 28, 2019

Notes Tables

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

	December 28,		December 29,
	2019		2018
	(in thousands, except per share amounts)


Stock Options	$	965	$	629
Stock purchase plan		202		69
Total share-based compensation	$	1,167	$	698

The above compensation is net of tax benefits	$	132	$	274

Note 8 (Tables)

3 Months Ended

Dec. 28, 2019

Notes Tables

Schedule of Inventory, Current [Table Text Block]

	December 28,		September 28,
	2019		2019
	(unaudited)
	(in thousands)

Finished goods	$	61,374	$	53,225
Raw materials		23,728		22,146
Packaging materials		9,189		9,703
Equipment parts and other		31,498		31,091
Total Inventories	$	125,789	$	116,165

Note 9 (Tables)

3 Months Ended

Dec. 28, 2019

Notes Tables

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

	Three months ended
	December 28,			December 29,
	2019			2018
	(unaudited)
	(in thousands)
Sales to External Customers:
Food Service
Soft pretzels	$	49,941		$	48,991
Frozen juices and ices		7,043			7,527
Churros		16,391			15,135
Handhelds		7,189			8,802
Bakery		96,372			94,245
Other		6,512			5,326
Total Food Service	$	183,448		$	180,026

Retail Supermarket
Soft pretzels	$	9,826		$	10,186
Frozen juices and ices		10,093			10,996
Bakery		6,978			7,864
Handhelds		2,761			2,568
Coupon redemption		(543	)		(694	)
Other		311			359
Total Retail Supermarket	$	29,426		$	31,279

Frozen Beverages
Beverages	$	35,255		$	31,167
Repair and maintenance service		22,486			19,915
Machines revenue		11,981			8,904
Other		301			321
Total Frozen Beverages	$	70,023		$	60,307

Consolidated Sales	$	282,897		$	271,612

Depreciation and Amortization:
Food Service	$	6,918		$	6,322
Retail Supermarket		359			335
Frozen Beverages		5,453			4,978
Total Depreciation and Amortization	$	12,730		$	11,635

Operating Income :
Food Service	$	18,034		$	17,697
Retail Supermarket		2,217			2,211
Frozen Beverages		1,452			2,174
Total Operating Income	$	21,703		$	22,082

Capital Expenditures:
Food Service	$	8,403		$	6,278
Retail Supermarket		960			552
Frozen Beverages		8,242			5,007
Total Capital Expenditures	$	17,605		$	11,837

Assets:
Food Service	$	760,852		$	686,192
Retail Supermarket		30,963			28,100
Frozen Beverages		304,291			219,692
Total Assets	$	1,096,106		$	933,984

Note 10 (Tables)

3 Months Ended

Dec. 28, 2019

Notes Tables

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

	December 28, 2019				September 28, 2019
	Gross				Gross
	Carrying		Accumulated		Carrying		Accumulated
	Amount		Amortization		Amount		Amortization
			(in thousands)
FOOD SERVICE

Indefinite lived intangible assets
Trade names	$	10,408	$	-	$	10,408	$	-

Amortized intangible assets
Non compete agreements		670		519		858		665
Customer relationships		19,737		10,278		19,900		9,954
License and rights		1,690		1,249		1,690		1,227
TOTAL FOOD SERVICE	$	32,505	$	12,046	$	32,856	$	11,846

RETAIL SUPERMARKETS

Indefinite lived intangible assets
Trade names	$	12,750	$	-	$	12,750	$	-

Amortized Intangible Assets
Trade names		676		422		676		389
Customer relationships		7,907		4,546		7,979		4,421
TOTAL RETAIL SUPERMARKETS	$	21,333	$	4,968	$	21,405	$	4,810


FROZEN BEVERAGES

Indefinite lived intangible assets
Trade names	$	9,315	$	-	$	9,315	$	-
Distribution rights		28,100		-		6,900		-

Amortized intangible assets
Customer relationships		1,306		147		737		102
Licenses and rights		1,400		950		1,400		933
TOTAL FROZEN BEVERAGES	$	40,121	$	1,097	$	18,352	$	1,035

CONSOLIDATED	$	93,959	$	18,111	$	72,613	$	17,691

Schedule of Goodwill [Table Text Block]

	Food Service		Retail Supermarket		Frozen Beverages		Total
	(in thousands)
Balance at December 28, 2019	$	61,189	$	4,146	$	54,149	$	119,484

Balance at September 28, 2019	$	61,189	$	4,146	$	37,176	$	102,511

Note 11 (Tables)

3 Months Ended

Dec. 28, 2019

Notes Tables

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

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

Corporate Bonds	$	116,003	$	1,234	$	6	$	117,231
Certificates of Deposit		2,880		5		-		2,885
Total marketable securities held to maturity	$	118,883	$	1,239	$	6	$	120,116

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

Mutual Funds	$	3,588	$	-	$	389	$	3,199
Preferred Stock		13,126		264		48		13,342
Total marketable securities available for sale	$	16,714	$	264	$	437	$	16,541

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

Corporate Bonds	$	127,571	$	1,204	$	36	$	128,739
Certificates of Deposit		2,880		6		-		2,886
Total marketable securities held to maturity	$	130,451	$	1,210	$	36	$	131,625

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

Mutual Funds	$	5,549	$	-	$	495	$	5,054
Preferred Stock		14,598		266		15		14,849
Total marketable securities available for sale	$	20,147	$	266	$	510	$	19,903

Investments Classified by Contractual Maturity Date [Table Text Block]

	December 28, 2019				September 28, 2019

			*Fair*				*Fair*
	*Amortized*		*Market*		*Amortized*		*Market*
	*Cost*		*Value*		*Cost*		*Value*
			(in thousands)
Due in one year or less	$	63,594	$	63,985	$	51,091	$	51,325
Due after one year through five years		55,289		56,131		79,360		80,300
Due after five years through ten years		-		-		-		-
Total held to maturity securities	$	118,883	$	120,116	$	130,451	$	131,625
Less current portion		63,594		63,985		51,091		51,325
Long term held to maturity securities	$	55,289	$	56,131	$	79,360	$	80,300

Note 12 (Tables)

3 Months Ended

Dec. 28, 2019

Notes Tables

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

	Three Months ended December 28, 2019
	(unaudited)
	(in thousands)


	*Foreign Currency*
	*Translation Adjustments*			*Total*

Beginning Balance	$	(12,988	)	$	(12,988	)

Other comprehensive gain		810			810
Ending Balance	$	(12,178	)	$	(12,178	)

	Three Months ended December 29, 2018
	(unaudited)
	(in thousands)

				*Unrealized Holding*
	*Foreign Currency*			*Gain on*
	*Translation Adjustments*			*Marketable Securities*			*Total*

Beginning Balance	$	(12,079	)	$	85		$	(11,994	)

Other comprehensive loss before reclassifications		(1,359	)		-		$	(1,359	)

Amounts reclassified from accumulated other comprehensive income		-			(85	)		(85	)

Ending Balance	$	(13,438	)	$	-		$	(13,438	)

Note 13 (Tables)

3 Months Ended

Dec. 28, 2019

Notes Tables

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

	(in thousands)

Accounts Receivable, net	$	722
Inventories		866
Property, plant & equipment, net		4,851
Customer Relationships		569
Distribution rights		21,200
Goodwill		16,973
Accounts Payable		(210	)
Purchase Price	$	44,970

Business Acquisition, Pro Forma Information [Table Text Block]

	(in thousands)

	Three months ended
	December 28,		December 29,
	2019		2018

Net Sales	$	282,897	$	273,857

Net Earnings	$	17,059	$	17,510

Note 14 (Tables)

3 Months Ended

Dec. 28, 2019

Notes Tables

Lease, Cost [Table Text Block]

	Three Months Ended
	December 28, 2019
	(in thousands)

Operating lease cost in Cost of goods sold and Operating Expenses	$	4,279
Finance lease cost:
Amortization of assets in Cost of goods sold and Operating Expenses		85
Interest on lease liabilities in Interest expense & other		8
Total finance lease cost		93
Short-term lease cost in Cost of goods sold and Operating Expenses		-
Total net lease cost	$	4,372

Assets and Liabilities, Lessee [Table Text Block]

	December 28, 2019
	(in thousands)
Operating Leases
Operating lease right-of-use assets	$	67,376

Current operating lease liabilities	$	13,668
Noncurrent operating lease liabilities		56,465
Total operating lease liabilities	$	70,133

Finance Leases
Finance lease right-of-use assets in Property, plant and equipment, net	$	957

Current finance lease liabilities	$	342
Noncurrent finance lease liabilities		628
Total finance lease liabilities	$	970

Lessee, Cash Flow Information [Table Text Block]

	Three Months Ended
	December 28, 2019
	(in thousands)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	4,244
Operating cash flows from finance leases	$	86
Financing cash flows from finance leases	$	7

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

Lessee, Lease Liability, Maturity [Table Text Block]

	(in thousands)
	Operating Leases			Finance Leases
Nine months ending June 30, 2020	$	12,089		$	273
2021		13,859			369
2022		11,577			168
2023		9,727			98
2024		7,406			98
Thereafter		24,754			26
Total minimum payments	$	79,412		$	1,032
Less amount representing interest		(9,279	)		(62	)
Present value of lease obligations	$	70,133		$	970

Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]

	(in thousands)
	Operating Leases		Capital Leases
2020	$	14,814	$	339
2021		12,686		349
2022		10,491		156
2023		8,971		91
2024		6,988		95
Thereafter		25,588		27
Total minimum payments	$	79,538	$	1,057

Note 2 (Details Textual) - USD ($)	Dec. 28, 2019	Sep. 28, 2019
Contract with Customer, Asset, Allowance for Deductions	$ 15,100,000	$ 14,800,000
Accounts Receivable, Allowance for Credit Loss, Ending Balance	$ 465,000	$ 572,000

Note 2 - Contract Liability (Unaudited) (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 28, 2019	Dec. 29, 2018
Beginning Balance	$ 1,334	$ 1,999
Additions to contract liability	1,275	372
Amounts recognized as revenue	(1,515)	(448)
Ending Balance	$ 1,094	$ 1,923

Note 3 (Details Textual) - USD ($)	3 Months Ended		6 Months Ended
Note 3 (Details Textual) - USD ($)	Dec. 28, 2019	Dec. 29, 2018	Mar. 30, 2019
Depreciation, Total	$ 11,887,000	$ 10,774,000
Minimum [Member]
Finite-Lived Intangible Asset, Useful Life	2 years		2 years
Maximum [Member]
Finite-Lived Intangible Asset, Useful Life	20 years		20 years

Note 4 (Details Textual) - shares	3 Months Ended
Note 4 (Details Textual) - shares	Dec. 28, 2019	Dec. 29, 2018
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	20,000	500

Note 4 - Calculation of EPS (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Dec. 28, 2019	Dec. 29, 2018
Weighted average number of shares outstanding, basic (in shares)	18,898	18,765
Earnings per share, basic (in dollars per share)	$ 0.90	$ 0.93
Options	$ 0	$ 0
Options (in shares)	246	132
Options (in dollars per share)	$ (0.01)	$ 0
Net Earnings available to common stockholders plus assumed conversions	$ 17,059	$ 17,526
Weighted average number of shares outstanding, diluted (in shares)	19,144	18,897
Earnings per share, diluted (in dollars per share)	$ 0.89	$ 0.93
Net Earnings available to common stockholders		$ 17,526

- Definition

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

+ References

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+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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Reference 1: http://www.xbrl.org/2003/role/exampleRef
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+ Details

Note 5 (Details Textual) - $ / shares	3 Months Ended
Note 5 (Details Textual) - $ / shares	Dec. 28, 2019	Dec. 29, 2018
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	0	1,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value		$ 27.09
Five Year Options [Member]
Share Based Compensation Arrangement by Share Based Payment Award Fair Value Assumptions Volatility Calculation Term	51 months
Ten Year Options [Member]
Share Based Compensation Arrangement by Share Based Payment Award Fair Value Assumptions Volatility Calculation Term	10 years

Note 5 - Summary of Share-based Compensation Expense (Benefit) (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 28, 2019	Dec. 29, 2018
Share-based compensation expense	$ 1,167	$ 698
The above compensation is net of tax benefits	132	274
Share-based Payment Arrangement, Option [Member]
Share-based compensation expense	965	629
Stock Purchase Plan [Member]
Share-based compensation expense	$ 202	$ 69

Note 6 (Details Textual) - USD ($)	3 Months Ended
Note 6 (Details Textual) - USD ($)	Dec. 29, 2018	Dec. 28, 2019	Sep. 28, 2019
Unrecognized Tax Benefits that Would Impact Effective Tax Rate		$ 414,000	$ 414,000
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued, Total		$ 279,000	$ 279,000
Effective Income Tax Rate Reconciliation, Repatriation of Foreign Earnings, Amount	$ 900,000
Effective Income Tax Rate Reconciliation, Percent, Total	28.00%

Note 7 (Details Textual) - Accounting Standards Update 2016-02 [Member] - USD ($) $ in Millions	Jul. 01, 2019	Jul. 01, 2017
Lease, Right-of-Use Asset	$ 71
Lease, Liability		$ 72

Note 8 - Summary of Inventories (Details) - USD ($) $ in Thousands	Dec. 28, 2019	Sep. 28, 2019
Finished goods	$ 61,374	$ 53,225
Raw materials	23,728	22,146
Packaging materials	9,189	9,703
Equipment parts and other	31,498	31,091
Total Inventories	$ 125,789	$ 116,165

Note 9 (Details Textual)	3 Months Ended		12 Months Ended
Note 9 (Details Textual)	Dec. 28, 2019 USD ($)	Dec. 29, 2018 USD ($)	Sep. 28, 2019 USD ($)
Number of Reportable Segments	3
Revenue from Contract with Customer, Including Assessed Tax	$ 282,897,000	$ 271,612,000
Operating Income (Loss), Total	$ 21,703,000	$ 22,082,000
MARYB's Biscuit Operations [Member]
Revenue from Contract with Customer, Including Assessed Tax			$ 25,316,000
Operating Income (Loss), Total			$ 1,584,000

Note 9 - Operations Information by Reporting Segment (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 28, 2019	Dec. 29, 2018	Sep. 28, 2019
Sales	$ 282,897	$ 271,612
Depreciation and amortization	12,730	11,635
Operating income	21,703	22,082
Capital expenditures	17,605	11,837
Assets	1,096,106	933,984	$ 1,019,339
Food Service [Member]
Sales	183,448	180,026
Depreciation and amortization	6,918	6,322
Operating income	18,034	17,697
Capital expenditures	8,403	6,278
Assets	760,852	686,192
Retail Supermarket [Member]
Sales	29,426	31,279
Depreciation and amortization	359	335
Operating income	2,217	2,211
Capital expenditures	960	552
Assets	30,963	28,100
Frozen Beverages [Member]
Sales	70,023	60,307
Depreciation and amortization	5,453	4,978
Operating income	1,452	2,174
Capital expenditures	8,242	5,007
Assets	304,291	219,692
Soft Pretzels [Member] \| Food Service [Member]
Sales	49,941	48,991
Soft Pretzels [Member] \| Retail Supermarket [Member]
Sales	9,826	10,186
Frozen Juices and Ices [Member] \| Food Service [Member]
Sales	7,043	7,527
Frozen Juices and Ices [Member] \| Retail Supermarket [Member]
Sales	10,093	10,996
Churros [Member] \| Food Service [Member]
Sales	16,391	15,135
Handhelds [Member] \| Food Service [Member]
Sales	7,189	8,802
Handhelds [Member] \| Retail Supermarket [Member]
Sales	2,761	2,568
Bakery [Member] \| Food Service [Member]
Sales	96,372	94,245
Bakery [Member] \| Retail Supermarket [Member]
Sales	6,978	7,864
Other Products [Member] \| Food Service [Member]
Sales	6,512	5,326
Other Products [Member] \| Retail Supermarket [Member]
Sales	311	359
Other Products [Member] \| Frozen Beverages [Member]
Sales	301	321
Coupon Redemtion [Member] \| Retail Supermarket [Member]
Sales	(543)	(694)
Beverage [Member] \| Frozen Beverages [Member]
Sales	35,255	31,167
Repair and Maintenance Service [Member] \| Frozen Beverages [Member]
Sales	22,486	19,915
Machine Sales [Member] \| Frozen Beverages [Member]
Sales	$ 11,981	$ 8,904

Note 10 (Details Textual)	3 Months Ended		6 Months Ended
Note 10 (Details Textual)	Dec. 28, 2019 USD ($)	Dec. 29, 2018 USD ($)	Mar. 30, 2019
Number of Reportable Segments	3
Amortization of Intangible Assets, Total	$ 843,000	$ 855,000
Finite-Lived Intangible Assets, Amortization Expense, Remainder of Fiscal Year	3,100,000
Finite-Lived Intangible Assets, Amortization Expense, Year Two	2,500,000
Finite-Lived Intangible Assets, Amortization Expense, Year Three	2,300,000
Finite-Lived Intangible Assets, Amortization Expense, Year Four	2,300,000
Finite-Lived Intangible Assets, Amortization Expense, Year Five	$ 2,000,000
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	10 years 8 months 12 days
Minimum [Member]
Finite-Lived Intangible Asset, Useful Life	2 years		2 years
Maximum [Member]
Finite-Lived Intangible Asset, Useful Life	20 years		20 years
Frozen Beverages [Member] \| ICEE Distributor [Member]
Indefinite-lived Intangible Assets Acquired	$ 21,769,000
Goodwill, Acquired During Period	$ 16,973,000

Note 10 - Intangible Assets by Reporting Segment (Details) - USD ($) $ in Thousands	Dec. 28, 2019	Sep. 28, 2019
Finite-lived intangible assets, accumulated amortization	$ 18,111	$ 17,691
Intangible assets	93,959	72,613
Food Service [Member]
Finite-lived intangible assets, accumulated amortization	12,046	11,846
Intangible assets	32,505	32,856
Food Service [Member] \| Noncompete Agreements [Member]
Finite-lived intangible assets, gross	670	858
Finite-lived intangible assets, accumulated amortization	519	665
Food Service [Member] \| Customer Relationships [Member]
Finite-lived intangible assets, gross	19,737	19,900
Finite-lived intangible assets, accumulated amortization	10,278	9,954
Food Service [Member] \| License and Rights [Member]
Finite-lived intangible assets, gross	1,690	1,690
Finite-lived intangible assets, accumulated amortization	1,249	1,227
Retail Supermarket [Member]
Finite-lived intangible assets, accumulated amortization	4,968	4,810
Intangible assets	21,333	21,405
Retail Supermarket [Member] \| Customer Relationships [Member]
Finite-lived intangible assets, gross	7,907	7,979
Finite-lived intangible assets, accumulated amortization	4,546	4,421
Retail Supermarket [Member] \| Finite-lived Trade Names [Member]
Finite-lived intangible assets, gross	676	676
Finite-lived intangible assets, accumulated amortization	422	389
Frozen Beverages [Member]
Finite-lived intangible assets, accumulated amortization	1,097	1,035
Intangible assets	40,121	18,352
Frozen Beverages [Member] \| Customer Relationships [Member]
Finite-lived intangible assets, gross	1,306	737
Finite-lived intangible assets, accumulated amortization	147	102
Frozen Beverages [Member] \| License and Rights [Member]
Finite-lived intangible assets, gross	1,400	1,400
Finite-lived intangible assets, accumulated amortization	950	933
Trade Names [Member] \| Food Service [Member]
Indefinite-lived intangible assets, gross	10,408	10,408
Trade Names [Member] \| Retail Supermarket [Member]
Indefinite-lived intangible assets, gross	12,750	12,750
Trade Names [Member] \| Frozen Beverages [Member]
Indefinite-lived intangible assets, gross	9,315	9,315
Distribution Rights, Indefinite-lived [Member] \| Frozen Beverages [Member]
Indefinite-lived intangible assets, gross	$ 28,100	$ 6,900

Note 10 - Goodwill by Reporting Segment (Details) - USD ($) $ in Thousands	Dec. 28, 2019	Sep. 28, 2019	Dec. 29, 2018	Sep. 29, 2018
Balance at December 28, 2019	$ 119,484	$ 102,511	$ 119,484	$ 102,511
Food Service [Member]
Balance at December 28, 2019			61,189	61,189
Retail Supermarket [Member]
Balance at December 28, 2019			4,146	4,146
Frozen Beverages [Member]
Balance at December 28, 2019			$ 54,149	$ 37,176

Note 11 (Details Textual) - USD ($)	3 Months Ended
Note 11 (Details Textual) - USD ($)	Dec. 28, 2019	Dec. 29, 2018	Sep. 28, 2019
Debt Securities, Held-to-maturity, Total	$ 118,883,000		$ 130,451,000
Proceeds from Sale and Maturity of Marketable Securities, Total	18,782,000	$ 17,125,000
Marketable Securities, Gain (Loss), Total	(11,000)	(1,027,000)
Marketable Securities, Unrealized Gain (Loss), Total	71,000	$ (1,027,000)
Corporate Bond Securities [Member]
Debt Securities, Held-to-maturity, Total	$ 106,000,000
Investment Securities Maturity Term	2 years

Note 11 - Summary of Securities (Details) - USD ($) $ in Thousands	Dec. 28, 2019	Sep. 28, 2019
Held-to-maturity securities, amortized cost	$ 118,883	$ 130,451
Held-to-maturity securities, gross unrealized gains	1,239	1,210
Held-to-maturity securities, gross unrealized losses	6	36
Held-to-maturity securities, fair market value	120,116	131,625
Investment securitie, cost	16,714	20,147
Investment securitie, gross unrealized gains	264	266
Investment securitie, gross unrealized losses	437	510
Investment securitie, fair market value	16,541	19,903
Corporate Bond Securities [Member]
Held-to-maturity securities, amortized cost	116,003	127,571
Held-to-maturity securities, gross unrealized gains	1,234	1,204
Held-to-maturity securities, gross unrealized losses	6	36
Held-to-maturity securities, fair market value	117,231	128,739
Mutual Funds [Member]
Investment securitie, cost	3,588	5,549
Investment securitie, gross unrealized gains	0	0
Investment securitie, gross unrealized losses	389	495
Investment securitie, fair market value	3,199	5,054
Certificates of Deposit [Member]
Held-to-maturity securities, amortized cost	2,880	2,880
Held-to-maturity securities, gross unrealized gains	5	6
Held-to-maturity securities, gross unrealized losses	0	0
Held-to-maturity securities, fair market value	2,885	2,886
Preferred Stock [Member]
Investment securitie, cost	13,126	14,598
Investment securitie, gross unrealized gains	264	266
Investment securitie, gross unrealized losses	48	15
Investment securitie, fair market value	$ 13,342	$ 14,849

Note 11 - Held-to-maturity Securities by Contractual Maturity (Details) - USD ($) $ in Thousands	Dec. 28, 2019	Sep. 28, 2019
Due in one year or less, amortized cost	$ 63,594	$ 51,091
Due in one year or less, fair market value	63,985	51,325
Due after one year through five years, amortized cost	55,289	79,360
Due after one year through five years, fair market value	56,131	80,300
Due after five years through ten years, amortized cost	0	0
Due after five years through ten years, fair market value	0	0
Total held to maturity securities, amortized cost	118,883	130,451
Total held to maturity securities, fair market value	120,116	131,625
Less current portion, amortized cost	63,594	51,091
Less current portion, fair market value	63,985	51,325
Long term held to maturity securities, amortized cost	55,289	79,360
Long term held to maturity securities, fair market value	$ 56,131	$ 80,300

Note 12 - Changes to the Components of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 28, 2019	Dec. 29, 2018
Balance	$ 833,751	$ 759,091
Balance	842,520	768,545
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Balance	(12,988)	(12,079)
Other comprehensive gain	810	(1,359)
Amounts reclassified from accumulated other comprehensive income		0
Balance	(12,178)	(13,438)
AOCI Attributable to Parent [Member]
Balance	(12,988)	(11,994)
Other comprehensive gain	810	(1,359)
Amounts reclassified from accumulated other comprehensive income		(85)
Balance	$ (12,178)	(13,438)
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent [Member]
Balance		85
Other comprehensive gain		0
Amounts reclassified from accumulated other comprehensive income		(85)
Balance		$ 0

Note 13 (Details Textual) - USD ($)			3 Months Ended
Note 13 (Details Textual) - USD ($)	Dec. 28, 2019	Oct. 01, 2019	Dec. 28, 2019	Dec. 29, 2018
Operating Income (Loss), Total			$ 21,703,000	$ 22,082,000
ICEE Distributor [Member]
Minimum Annual Revenues		$ 13,000,000
Revenues, Total			2,500,000
Operating Income (Loss), Total			$ 500,000
Business Combination, Acquisition Related Costs	$ 36,000

Note 13 - Purchase Price Allocation for Acquisitions (Details) - USD ($) $ in Thousands	Dec. 28, 2019	Oct. 01, 2019	Sep. 28, 2019	Dec. 29, 2018	Sep. 29, 2018
Balance at December 28, 2019	$ 119,484		$ 102,511	$ 119,484	$ 102,511
ICEE Distributor [Member]
Accounts Receivable, net		$ 722
Inventories		866
Property, plant & equipment, net		4,851
Balance at December 28, 2019		16,973
Accounts Payable		(210)
Purchase Price		44,970
ICEE Distributor [Member] \| Distribution Rights [Member]
Indefinite-Lived Intangible Assets		21,200
ICEE Distributor [Member] \| Customer Relationships [Member]
Finite-Lived Intangible Assets		$ 569

Note 13 - Proforma Results from Acquisitions (Details) - ICEE Distributor [Member] - USD ($) $ in Thousands	3 Months Ended
	Dec. 28, 2019	Dec. 29, 2018
Net Sales	$ 282,897	$ 273,857
Net Earnings	$ 17,059	$ 17,510

Note 14 (Details Textual)	3 Months Ended
Note 14 (Details Textual)	Dec. 28, 2019
Operating Lease, Weighted Average Discount Rate, Percent	3.30%
Finance Lease, Weighted Average Discount Rate, Percent	3.10%
Operating Lease, Weighted Average Remaining Lease Term	7 years 3 months 18 days
Finance Lease, Weighted Average Remaining Lease Term	4 years
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	13 years
Lessee, Finance Lease, Remaining Lease Term	6 years

Note 14 - Components of Lease Expense (Details) $ in Thousands	3 Months Ended
	Dec. 29, 2019 USD ($)
Operating lease cost in Cost of goods sold and Operating Expenses	$ 4,279
Amortization of assets in Cost of goods sold and Operating Expenses	85
Interest on lease liabilities in Interest expense & other	8
Total finance lease cost	93
Short-term lease cost in Cost of goods sold and Operating Expenses	0
Total net lease cost	$ 4,372

Note 14 - Supplemental Balance Sheet Information Related to Leases (Details) - USD ($) $ in Thousands	Dec. 29, 2019	Dec. 28, 2019	Sep. 28, 2019
Operating lease right-of-use assets	$ 67,376	$ 67,376	$ 0
Current operating lease liabilities	13,668	13,668	0
Noncurrent operating lease liabilities	56,465	56,465	0
Total operating lease liabilities	70,133		70,133
Finance lease right-of-use assets in Property, plant and equipment, net	957
Current finance lease liabilities	342	342	339
Noncurrent finance lease liabilities	628	$ 628	718
Total finance lease liabilities	$ 970		$ 970

Note 14 - Supplemental Cash Flow Information Related to Leases (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 28, 2019	Dec. 29, 2018
Operating cash flows from operating leases	$ 4,244
Operating cash flows from finance leases	86	$ 83
Financing cash flows from finance leases	7
Supplemental noncash information on lease liabilities arising from obtaining right-of-use assets	0
Supplemental noncash information on lease liabilities removed due to purchase of leased asset	$ 0

Note 14 - Maturities of Lease Liabilities (Details) - USD ($) $ in Thousands	Dec. 29, 2019	Sep. 28, 2019
Nine months ending June 30, 2020, operating leases		$ 12,089
Nine months ending June 30, 2020, finance leases		273
2021, operating leases		13,859
2021, finance leases		369
2022, operating leases		11,577
2022, finance leases		168
2023, operating leases		9,727
2023, finance leases		98
2024, operating leases		7,406
2024, finance leases		98
Thereafter, operating leases		24,754
Thereafter, finance leases		26
Total minimum payments, operating leases		79,412
Total minimum payments, finance leases		1,032
Less amount representing interest, operating leases		(9,279)
Less amount representing interest, finance leases		(62)
Present value of lease obligations, operating leases	$ 70,133	70,133
Present value of lease obligations, finance leases	$ 970	$ 970

Note 14 - Future Minimum Rental Payments for Operating Leases (Details) $ in Thousands	Sep. 28, 2019 USD ($)
Total minimum payments, operating leases	$ 79,538
Total minimum payments, capital leases	1,057
Building [Member]
2020, operating leases	14,814
2021, operating leases	12,686
2022, operating leases	10,491
2023, operating leases	8,971
2024, operating leases	6,988
Thereafter, operating leases	25,588
Equipment [Member]
2020, capital leases	339
2021, capital leases	349
2022, capital leases	156
2023, capital leases	91
2024, capital leases	95
Thereafter, capital leases	$ 27