| Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
| Apr. 25, 2014 |
| Accounting Policies [Abstract] | ' |
| Description of Business | ' |
| Description of Business: As of April 25, 2014, Bob Evans Farms, Inc. (“Bob Evans”) and its subsidiaries (collectively, Bob Evans and its subsidiaries are referred to as the “company,” “we,” “us” and “our”) owned and operated 561 full-service Bob Evans Restaurants in 19 states. Bob Evans Restaurants are primarily located in the Midwest, mid-Atlantic and Southeast regions of the United States. We also produce and distribute pork sausage products and a variety of complementary home-style refrigerated side dishes and frozen food items primarily under the Bob Evans, Owens and Country Creek brand names. These food products are distributed primarily to warehouses that distribute to grocery stores throughout the United States. Additionally, we manufacture and sell similar products to foodservice accounts, including Bob Evans Restaurants and other restaurants and food sellers. |
| Effective January 28, 2013, we entered into a definitive agreement to sell our Mimi’s Café restaurant chain to Le Duff America, Inc. (“Le Duff”). Le Duff is a U.S.-based subsidiary of Groupe Le Duff, a global bakery and restaurant company headquartered in France. Effective February 15, 2013, we completed the sale of Mimi’s Café to Le Duff. |
| Effective December 28 and 31, 2012, we completed the conversions of Bob Evans Farms, Inc., an Ohio corporation, and SWH Corporation, a California corporation, respectively, from corporations to limited liability companies. |
| Correction of Prior Consolidated Financial Information | ' |
| Correction of Prior Consolidated Financial Statements: The fiscal year 2013 and prior financial statements have been recast in accordance with the Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") 205-20-55 to recognize the Mimi's Café operations within discontinued operations and to recognize assets held for sale. See Note 3 for additional information. |
| The Consolidated Balance Sheets, Consolidated Statements of Net Income, Consolidated Statements of Stockholders' Equity and Consolidated Statements of Cash Flows have also been adjusted for prior period errors related to property, plant and equipment, deferred income taxes, federal and state income tax receivables and other less significant items. See Note 14 for additional information. |
| Principles of Consolidation | ' |
| Principles of Consolidation: The consolidated financial statements include the accounts of Bob Evans and its subsidiaries. Intercompany accounts and transactions have been eliminated. Dollars are in thousands, except per share amounts. |
| Use of Estimates | ' |
| Use of Estimates: The preparation of financial statements in conformity with generally accepted accounting principles ("GAAP") requires us to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses and disclosure of contingent assets and liabilities. Actual results could differ from the estimates and assumptions used. |
| Segment Information | ' |
| Segment Information: During fiscal 2014, we had two reporting segments: Bob Evans Restaurants and BEF Foods. See Note 13 for detailed segment information. See Note 3 for further information regarding the classification of Mimi’s Café as discontinued operations. Effective February 15, 2013, we completed the sale of Mimi’s Café to SWH Mimi’s Café Holding Company, Inc., a wholly owned subsidiary of Le Duff. |
| The revenues from these two segments include both net sales to unaffiliated customers and intersegment net sales, which are accounted for on a basis consistent with net sales to unaffiliated customers. Intersegment net sales and other intersegment transactions have been eliminated in the consolidated financial statements. Operating income represents earnings before interest and income taxes. Identifiable assets by segment are those assets that are used in our operations in each segment. General corporate assets consist of corporate property, plant and equipment, long-term investments, note receivables, federal and state income tax receivables and deferred income tax assets. |
| Fiscal Year | ' |
| Fiscal Year: Our fiscal year ends on the last Friday in April. References herein to fiscal 2014, fiscal 2013 and fiscal 2012 refer to fiscal years ended April 25, 2014; April 26, 2013; and April 27, 2012, respectively. All years presented were comprised of 52 weeks. |
| Revenue Recognition | ' |
| Revenue Recognition: Revenue in the Bob Evans Restaurants segment is recognized at the point of sale, other than revenue from the sale of gift cards, which is deferred and recognized upon redemption. Revenue in the BEF Foods segment is recognized when products are received by our customers. All revenue is presented net of sales tax collections. |
| We issue gift cards, which do not have expiration dates or inactivity fees. We recognize revenue from gift cards when they are redeemed by the customer. In addition, we recognize income on unredeemed gift cards (“gift card breakage”) based on historical redemption patterns, referred to as the redemption recognition method. Gift card breakage is recognized proportionately over the period of redemption in net sales in the Consolidated Statements of Net Income. The liability for unredeemed gift cards is included in deferred revenue on the Consolidated Balance Sheets. |
| Revenue in the BEF Foods segment is generally recognized when products are received by our customers. We engage in promotional (sales incentive) programs in the form of “off-invoice” deductions, billbacks, cooperative advertising and coupons with our customers. Costs associated with these programs are classified as a reduction of net sales in the period in which the sale occurs. |
| Cash Equivalents | ' |
| Cash Equivalents: We consider all highly liquid instruments with a maturity of three months or less when purchased to be cash equivalents. |
| Accounts Receivable | ' |
| Accounts Receivable: Accounts receivable represents amounts owed to us through our operating activities and are presented net of allowance for doubtful accounts. We evaluate the collectability of our accounts receivable based on a combination of factors. In circumstances where we are aware of a specific customer’s inability to meet its financial obligations to us, we record a specific allowance for bad debts against amounts due to reduce the net recognized receivable to the amount we reasonably believe will be collected. In addition, we recognize allowances for bad debts based on the length of time receivables are past due with allowance percentages, based on our historical experiences, applied on a graduated scale relative to the age of the receivable amounts. If circumstances such as higher than expected bad debt experience or an unexpected material adverse change in a major customer’s ability to meet its financial obligations to us were to occur, we estimate the recoverability of amounts due to us could change by a material amount. During fiscal 2014, we had allowance for doubtful accounts of $71, compared to $29 for fiscal year 2013. |
| Concentration of Credit Risk | ' |
| Concentration of Credit Risk: We maintain cash depository accounts with major banks and invest in high-quality short-term liquid instruments. Such investments are made only in instruments issued or enhanced by high-quality institutions. These investments mature within three months and we have not incurred any related losses. |
| Accounts receivable can be potentially exposed to a concentration of credit risk with customers or in particular industries. Such credit risk is considered by management to be limited due to our many customers, none of which are considered principal in our total operations. We do have two individual customers that exceed 10 percent of total revenue in our BEF Foods reporting segment. In addition, we maintain reserves for credit losses. Such losses historically have been within our expectations. |
| Notes Receivable | ' |
| Notes Receivable: As a result of the sale of Mimi’s Café to Le Duff, we received a promissory note for $30,000. The note has an annual interest rate of 1.5% and a term of seven years. The interest and Note are payable in full at maturity. Partial prepayments are required prior to maturity if the buyer reaches certain levels of EBITDA during specified periods, or upon a sale or liquidation. The buyer covenanted to and did provide funding of at least $10,000 through the initial 18-months after closing. To the extent of such capital being funded but not repaid, we agreed to subordinate our right to repayment under the Note until the buyer has first received a repayment of its funding. Our right to repayment under the Note is subordinated to third party lenders.. The note is valued using a discounted cash flow model. We used our weighted-average cost of capital as the discount rate to value the promissory note from SWH Mimi's Café Holding Company, LLC, which we deem to be a Level 3 input under the Fair Value Measurements and Disclosures Topic of the FASB ASC 820. See Note 3 and Note 7 for more information. |
| Inventories | ' |
| Inventories: We value our Bob Evans Restaurants inventories at the lower of first-in, first-out cost (“FIFO”) or market and our BEF Foods inventories are determined on an average cost method which approximates a FIFO basis due to the perishable nature of our inventory. Inventory includes raw materials and supplies ($16,163 in fiscal 2014 and $13,540 in fiscal 2013) and finished goods ($9,080 in fiscal 2014 and $8,951 in fiscal 2013). |
| Property, Plant and Equipment | ' |
| Property, Plant and Equipment: Property, plant and equipment are recorded at cost less accumulated depreciation. The straight-line depreciation method is used for nearly all capitalized assets, although some assets purchased prior to fiscal 1995 continue to be depreciated using accelerated methods. Depreciation is calculated at rates adequate to amortize costs over the estimated useful lives of buildings and improvements (15 to 50 years) and machinery and equipment (3 to 30 years). Improvements to leased properties are depreciated over the shorter of their useful lives or the initial lease terms. Total depreciation expense from continuing operations was $79,299; $69,201; and $60,273 in fiscal 2014, fiscal 2013 and fiscal 2012, respectively. |
| Construction in progress includes costs capitalized for the construction of new restaurants, our new enterprise resource planning ("ERP") system and various other ongoing capital projects. As of April 25, 2014, we have capitalized $11,349 related to the ERP. |
| We evaluate property, plant and equipment held and used in the business for impairment whenever events or changes in circumstances indicate that the carrying amount of a long-lived asset may not be recoverable. Impairment is determined by comparing the estimated fair value for the asset group to the carrying amount of its assets. If impairment exists, the amount of impairment is measured as the excess of the carrying amount over the estimated fair values of the assets. Generally, the estimated fair value is determined based on appraisals, which we deem to be Level 3 inputs under ASC 820. See Note 7 for further information. |
| Life Insurance Proceeds | ' |
| Life Insurance Proceeds: The cash receipts and payments related to life insurance proceeds are included in cash flows from operating activities on the Consolidated Statements of Cash Flows and in Selling, general and administrative expenses ("S,G&A") in the Consolidated Statements of Net Income. |
| Long-term Investments | ' |
| Long-term Investments: Long-term investments include assets held under certain deferred compensation arrangements, which primarily represent the cash surrender value of company-owned life insurance policies. An offsetting liability for the amount of the cash surrender value of company-owned life insurance is included in the deferred compensation liability amount on the Consolidated Balance Sheets. Purchases of company-owned life insurance policies are recorded as investing activities within the statement of cash flows. Long-term investments totaled $31,972 and $29,723 as of April 25, 2014, and April 26, 2013, respectively. Change in the cash surrender value for these investments is reflected within the S,G&A line in the Consolidated Statements of Net Income, and resulted in gains, net of fees, of $2,249 and $1,277 in fiscal 2014 and 2013, respectively. |
| Goodwill and Other Intangible Assets | ' |
| Goodwill and Other Intangible Assets: Goodwill, which represents the cost in excess of fair market value of net assets acquired, was $19,634 as of April 25, 2014, and April 26, 2013. The goodwill and intangible assets are related to the BEF Foods segment. In fiscal 2013, we recognized goodwill related to the purchase of the Kettle Creations® brand (“Kettle Creations”) for $18,067. |
| In fiscal 2014 and fiscal 2013, other intangible assets consisted of the Kettle Creations trademark and a non-compete agreement related to the Kettle Creations acquisition. The Kettle Creations trademark asset is deemed to have an indefinite economic life and is not amortized. The Kettle Creations non-compete agreement is amortized on a straight-line basis over its estimated economic life of 5 years. In fiscal 2012, other intangible assets consisted of the Mimi’s Café business trade name and restaurant concept. The Mimi’s Café business trade name was deemed to have an indefinite economic life and was not amortized. The Mimi’s Café restaurant concept intangible asset was amortized on a straight-line basis over its estimated economic life of 15 years. In fiscal 2013, we recognized $39,398 of impairment charges on the Mimi’s Café trade name and restaurant concept intangible assets, recorded within the "Income (loss) from discontinued operations, net of income taxes" line on the Consolidated Statements of Net Income. There were no intangible asset impairment charges in 2012. See Note 11 for further information. |
| Goodwill and intangible assets with indefinite lives are not amortized, but rather are tested for impairment during the fourth quarter each year or on a more frequent basis when indicators of impairment exist. Goodwill and indefinite lived intangible asset impairment testing involves a comparison of the estimated fair value of reporting units to the respective carrying amount. If the estimated fair value exceeds the carrying amount, then no impairment exists. If the carrying amount exceeds the estimated fair value, then a second step is performed to determine the amount of impairment, if any. We perform our impairment test using a combination of income based and market based approaches. The income based approach indicates the fair value of an asset or business based on the cash flows it can be expected to generate over its remaining useful life. Under the market-based approach, fair value is determined by comparing our reporting units to similar businesses or guideline companies whose securities are actively traded in public markets. In fiscal 2014, 2013 and 2012, no goodwill or indefinite lived intangible asset impairment charges were recorded. See Note 11 for further information. |
| Financial Instruments | ' |
| Financial Instruments: The fair values of our financial instruments (other than long-term debt) approximate their carrying values at April 25, 2014, and April 26, 2013. As of April 25, 2014, we had $458,898 outstanding on our revolving credit facility. At year end, the fair value of our long-term note receivables were $16,243. At April 25, 2014, the estimated fair value of our long-term debt approximated $835 compared to a carrying amount of $1,000. We estimate the fair value of our long-term debt based on the current interest rates offered for debt of the same maturities. We do not use derivative financial instruments for speculative purposes. See Note 4 and Note 7 for further information. |
| Preopening Expenses | ' |
| Preopening Expenses: Expenditures related to the opening of new restaurants and our remodel initiatives, other than those for capital assets, are expensed when incurred. Preopening expenses were $4,378, $3,899 and $3,226 in fiscal 2014, fiscal 2013 and fiscal 2012, respectively. |
| Advertising Costs | ' |
| Advertising Costs: Media advertising is expensed at the time the media first airs. We expense all other advertising costs as incurred. Advertising expense from continuing operations was $36,673; $43,819; and $41,369 in fiscal 2014, fiscal 2013 and fiscal 2012, respectively. Advertising costs are classified in other operating expenses and S,G&A expenses in our restaurant segment and BEF Foods segment, respectively, in the Consolidated Statements of Net Income. We have prepaid advertising costs of $517 and $655 as of April 25, 2014, and April 26, 2013, respectively. |
| Cost of Sales | ' |
| Cost of Sales: Cost of sales represents primarily food cost for Bob Evans Restaurants and cost of materials in the BEF Foods segment. Cash rebates that we receive from suppliers are recorded as a reduction of cost of sales in the periods in which they are earned. The amount of each rebate is directly related to the quantity of product purchased from the supplier. |
| Promotional Spending | ' |
| Promotional Spending: We engage in promotional (sales incentive) programs in the form of “off-invoice” deductions, billbacks, cooperative advertising and coupons. Costs associated with these programs are classified as a reduction of gross sales in the period in which the sale occurs. Promotional spending from continuing operations was $95,583, $87,246 and $71,014 in fiscal 2014, fiscal 2013 and fiscal 2012, respectively. |
| Comprehensive Income | ' |
| Comprehensive Income: Comprehensive income is the same as reported net income. |
| Earnings Per Share | ' |
| Earnings Per Share: Basic earnings-per-share computations are based on the weighted-average number of shares of common stock outstanding during the period presented. Diluted earnings-per-share calculations reflect the assumed exercise and conversion of outstanding employee stock options. |
| The numerator in calculating both basic and diluted earnings per share for each year is reported net income. The denominator is based on the following weighted-average number of common shares outstanding (in thousands): |
|
| | | | | | | | |
| 2014 | | 2013 | | 2012 |
| Basic | 26,450 | | | 28,066 | | | 29,464 | |
|
| Dilutive stock options | 254 | | | 422 | | | 461 | |
|
| Diluted | 26,704 | | | 28,488 | | | 29,925 | |
|
| Options to purchase 127,201, 451,842 and 567,698 shares of common stock in fiscal 2014, fiscal 2013, and fiscal 2012, respectively, were excluded from the diluted earnings-per-share calculations because they were antidilutive. |
| Stock-Based Employee Compensation | ' |
| Stock-based Employee Compensation: The Compensation — Stock Compensation Topic of the FASB ASC ("ASC 718") requires that we measure the cost of employee services received in exchange for an equity award, such as stock options, restricted stock awards and restricted stock units, based on the fair value of the award on the grant date. The cost is recognized in the income statement over the vesting period of the award on a straight-line basis with the exception of compensation cost related to awards for retirement eligible employees, which are recognized immediately upon grant. Compensation cost recognized is based on the grant date fair value estimated in accordance with ASC 718. Total stock-based compensation cost from continuing operations in fiscal 2014, fiscal 2013 and fiscal 2012 was $7,105, $7,623 and $5,250 respectively. The related tax benefit recognized was $2,700, $2,642 and $1,671 in fiscal 2014, fiscal 2013 and fiscal 2012, respectively. Expense associated with stock-based compensation is primarily reflected in S,G&A expense. |
| We issued restricted stock awards (“RSAs”) and restricted stock units ("RSUs") in fiscal 2014, fiscal 2013 and fiscal 2012. RSAs and RSUs are valued based on the stock closing price on the grant date. RSAs and RSUs generally vest over three years and have dividend rights. |
| Other Compensation Plans | ' |
| Other Compensation Plans: We have a defined contribution plan (401(k)) that is available to substantially all employees who have at least 1,000 hours of service. We also have nonqualified deferred compensation plans, the Bob Evans Executive Deferral Plan (“BEEDP”) and Bob Evans Directors’ Deferral Plan (“BEDDP”), which provides certain executives and Board of Directors members, respectively, the opportunity to defer a portion of their current income to future years. Our annual matching contributions to the plans are at the discretion of our Board of Directors. The Supplemental Executive Retirement Plan (“SERP”) (see Note 9) provides awards in the form of nonqualified deferred cash compensation. |
| Leases | ' |
| Leases: Rent expense for our operating leases is recorded on a straight-line basis over the lease term. We record the difference between the amount charged to expense and the rent paid as deferred rent in the Consolidated Balance Sheets. We commence lease expense upon delivery of the leased location by the lessor. |
| Rent expense from continuing operations is included in other operating expenses and was $13,567, $12,486 and $10,032 in fiscal 2014, fiscal 2013 and fiscal 2012, respectively. |
| In some instances, we have received contributions or a reduction in rent from landlords to help fund the construction of new restaurants or remodeling of existing locations. We account for landlord contributions as lease incentive obligations that are amortized as a reduction to rent expense over the applicable lease term. Lease incentive obligations are included in the Consolidated Balance Sheets as deferred rent. |
| Income Taxes | ' |
| Income Taxes: We account for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method, deferred tax assets and liabilities are determined on the basis of differences between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date. |
| We recognize deferred tax assets to the extent that we believe these assets are more likely than not to be realized. In making such a determination, we consider all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax-planning strategies, and results of recent operations. If we determine that we would be able to realize our deferred tax assets in the future in excess of their net recorded amount, we would make an adjustment to the deferred tax asset valuation allowance, which would reduce the provision for income taxes. |
| We record uncertain tax positions in accordance with the Income Taxes Topic of the FASB ASC 740 on the basis of a two-step process whereby (1) we determine whether it is more likely than not that the tax positions will be sustained on the basis of the technical merits of the position and (2) for those tax positions that meet the more-likely-than-not recognition threshold, we recognize the largest amount of tax benefit that is more than 50 percent likely to be realized upon ultimate settlement with the related tax authority. The Company recognizes interest and penalties related to unrecognized tax benefits within the income tax expense line in the accompanying Consolidated Statement of Net Income. Accrued interest and penalties are included within the related tax liability line in the Consolidated Balance Sheets. |
| Commitments and Contingencies | ' |
| Commitments and Contingencies: We rent certain restaurant facilities under operating leases having initial terms that primarily expire approximately 20 years from inception. The leases typically contain renewal clauses of 5 to 30 years exercisable at our option. Most leases contain either fixed or inflation-adjusted escalation clauses. |
| We occasionally use purchase commitment contracts to stabilize the potentially volatile pricing associated with certain commodity items. See Note 10 for further information. |
| We are self-insured for most casualty losses and employee health-care claims up to certain stop-loss limits per claim. We have accounted for liabilities for casualty losses, including both reported claims and incurred but not reported claims, based on information provided by independent actuaries. We have accounted for our employee health-care claims liability through a review of incurred and paid claims history. We do not believe that our calculation of casualty losses and employee health-care claims liabilities would change materially under different conditions and/or different methods. However, due to the inherent volatility of actuarially determined casualty losses and employee health-care claims, it is reasonably possible that we could experience changes in estimated losses, which could be material to net income. |
| We are from time-to-time involved in ordinary and routine litigation, typically involving claims from customers, employees and others related to operational issues common to the restaurant and food manufacturing industries. Management presently believes that the ultimate outcome of these proceedings, individually or in the aggregate, will not have a material adverse effect on our financial position, cash flows or results of operations. |
| Reclassifications | ' |
| Reclassifications: In order to conform with our current period presentation, we reclassified $8,931 and $7,861 of carryout supplies expense incurred in fiscal 2013 and 2012, respectively, from the operating expense line to the cost of sales line on the Consolidated Statements of Net Income. We believe that carryout supplies are better classified as a cost of sales expense than an other operating expense. Such reclassifications had no impact on reported net income. |
| New Accounting Pronouncements | ' |
| New Accounting Pronouncements: In the normal course of business, management evaluates all new accounting pronouncements issued by the FASB, the Securities and Exchange Commission (“SEC”), the Emerging Issues Task Force, the American Institute of Certified Public Accountants or any other authoritative accounting body to determine the potential impact they may have on the Company’s consolidated financial statements. |
| In May 2014, the FASB and the International Accounting Standards Board (IASB) issued new joint guidance surrounding revenue recognition. Under U.S. generally accepted accounting principles ("US GAAP"), this guidance is being introduced to the ASC as Topic 606, Revenue from Contracts with Customers ("Topic 606"), by Accounting Standards Update No. 2014-09 ("ASU 2014-09"). The new standard supersedes a majority of existing revenue recognition guidance under US GAAP, and requires companies to recognize revenue when it transfers goods or services to a customer in an amount that reflects the consideration to which a company expects to be entitled. Companies may need to use more judgment and make more estimates while recognizing revenue, which could result in additional disclosures to the financial statements. Topic 606 allows for either a "full retrospective" adoption or a "modified retrospective" adoption. We are currently evaluating which adoption method we will use. The standard is effective for us in the fourth quarter of fiscal 2017. We are currently evaluating the revenue recognition impact this guidance will have once implemented. |
| In April 2014, the FASB issued Accounting Standards Update No. 2014-08, Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity ("ASU 2014-08"), which is an update to existing guidance related to reporting discontinued operations. The updated guidance states that only those disposals of components of an entity which would represent a strategic shift in operations and has or will have a major impact on operations and financial results will be presented as discontinued operations. This update also requires the assets and liabilities of a discontinued operation to be presented separately in the statement of financial position for all prior periods presented. ASU 2014-08 is to be applied prospectively, and is effective for us in the first quarter of fiscal 2015. This update is not expected to have a material impact on the consolidated financial statements. |
