Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Apr. 27, 2024 | Jun. 24, 2024 | Oct. 27, 2023 | |
Document Information [Line Items] | |||
Entity Central Index Key | 0000069891 | ||
Entity Registrant Name | National Beverage Corp. | ||
Amendment Flag | false | ||
Current Fiscal Year End Date | --04-27 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2024 | ||
Document Type | 10-K | ||
Document Annual Report | true | ||
Document Period End Date | Apr. 27, 2024 | ||
Document Transition Report | false | ||
Entity File Number | 1-14170 | ||
Entity Incorporation, State or Country Code | DE | ||
Entity Tax Identification Number | 59-2605822 | ||
Entity Address, Address Line One | 8100 SW Tenth Street, Suite 4000 | ||
Entity Address, City or Town | Fort Lauderdale | ||
Entity Address, State or Province | FL | ||
Entity Address, Postal Zip Code | 33324 | ||
City Area Code | 954 | ||
Local Phone Number | 581-0922 | ||
Title of 12(b) Security | Common Stock, par value $.01 per share | ||
Trading Symbol | FIZZ | ||
Security Exchange Name | NASDAQ | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Small Business | false | ||
Entity Emerging Growth Company | false | ||
ICFR Auditor Attestation Flag | true | ||
Document Financial Statement Error Correction [Flag] | true | ||
Document Financial Statement Restatement Recovery Analysis [Flag] | false | ||
Entity Shell Company | false | ||
Entity Public Float | $ 1,100,000,000 | ||
Entity Common Stock, Shares Outstanding | 93,580,046 | ||
Auditor Name | RSM US LLP | ||
Auditor Firm ID | 49 | ||
Auditor Location | Fort Lauderdale, Florida |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Apr. 27, 2024 | Apr. 29, 2023 |
Assets | ||
Cash and cash equivalents | $ 327,047 | $ 158,074 |
Trade receivables, net | 102,837 | 104,918 |
Inventories | 84,603 | 93,578 |
Prepaid Expense and Other Assets, Current | 22,385 | 9,835 |
Total current assets | 536,872 | 366,405 |
Property, plant and equipment, net | 159,730 | 148,423 |
Operating lease right-of-use assets | 53,498 | 39,506 |
Goodwill | 13,145 | 13,145 |
Intangible assets | 1,615 | 1,615 |
Other assets | 5,293 | 5,248 |
Total assets | 770,153 | 574,342 |
Liabilities and Shareholders' Equity | ||
Accounts payable | 78,283 | 85,106 |
Accrued Liabilities, Current | 46,565 | 47,318 |
Operating lease liabilities | 13,079 | 11,745 |
Income taxes payable | 0 | 152 |
Total current liabilities | 137,927 | 144,321 |
Deferred income taxes net | 23,247 | 19,814 |
Operating lease liabilities | 41,688 | 29,782 |
Other liabilities | 7,779 | 7,938 |
Total liabilities | 210,641 | 201,855 |
Commitments and contingencies | ||
Shareholders' equity: | ||
Preferred stock, $1 par value - 1,000,000 shares authorized Series C - 150,000 shares issued | 150 | 150 |
Common stock, $.01 par value - 200,000,000 shares authorized; 101,942,658 and 101,727,658 shares issued, respectively | 1,019 | 1,017 |
Additional paid-in capital | 42,588 | 40,393 |
Retained earnings | 535,077 | 358,345 |
Accumulated other comprehensive income (loss) | 4,911 | (3,185) |
Common stock, value | (19,133) | (19,133) |
Total shareholders' equity | 559,512 | 372,487 |
Total liabilities and shareholders' equity | 770,153 | 574,342 |
Series C Preferred Stock [Member] | ||
Shareholders' equity: | ||
Treasury stock Series C preferred stock, value | $ (5,100) | $ (5,100) |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - $ / shares | Apr. 27, 2024 | Apr. 29, 2023 |
Preferred stock, par value (in dollars per share) | $ 1 | $ 1 |
Preferred stock, shares authorized (in shares) | 1,000,000 | 1,000,000 |
Preferred stock, shares issued (in shares) | 150,000 | 150,000 |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized (in shares) | 200,000,000 | 200,000,000 |
Common stock, shares issued (in shares) | 101,942,658 | 101,727,658 |
Common stock, shares (in shares) | 8,374,112 | 8,374,112 |
Series C Preferred Stock [Member] | ||
Series C preferred stock, shares (in shares) | 150,000 | 150,000 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | ||
Apr. 27, 2024 | Apr. 29, 2023 | Apr. 30, 2022 | |
Net sales | $ 1,191,694 | $ 1,172,932 | $ 1,138,013 |
Cost of sales | 763,243 | 776,143 | 720,208 |
Gross profit | 428,451 | 396,789 | 417,805 |
Selling, general and administrative expenses | 209,941 | 210,105 | 209,949 |
Operating income | 218,510 | 186,684 | 207,856 |
Other income (expense), net | 11,338 | (242) | (260) |
Income before income taxes | 229,848 | 186,442 | 207,596 |
Provision for income taxes | 53,116 | 44,278 | 49,084 |
Net income | $ 176,732 | $ 142,164 | $ 158,512 |
Earnings per common share: | |||
Basic (in dollars per share) | $ 1.89 | $ 1.52 | $ 1.7 |
Diluted (in dollars per share) | $ 1.89 | $ 1.52 | $ 1.69 |
Weighted average common shares outstanding: | |||
Basic (in shares) | 93,429 | 93,347 | 93,323 |
Diluted (in shares) | 93,630 | 93,608 | 93,599 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | ||
Apr. 27, 2024 | Apr. 29, 2023 | Apr. 30, 2022 | |
Net income | $ 176,732 | $ 142,164 | $ 158,512 |
Cash flow hedges | 7,910 | (10,130) | 3,882 |
Other | 186 | 27 | 19 |
Total | 8,096 | (10,103) | 3,901 |
Comprehensive income | $ 184,828 | $ 132,061 | $ 162,413 |
Consolidated Statements of Shar
Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands | Total | Preferred Stock [Member] Series C Preferred Stock [Member] | Common Stock Outstanding [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Treasury Stock, Preferred [Member] Series C Preferred Stock [Member] | Treasury Stock, Common [Member] |
Balance (in shares) | 150,000 | 101,676,000 | 150,000 | |||||
Balance (in shares) at May. 01, 2021 | 150,000 | 101,676,000 | 150,000 | |||||
Balance at May. 01, 2021 | $ 150 | $ 1,016 | $ 38,375 | $ 337,672 | $ 3,017 | $ (5,100) | $ (19,133) | |
Stock options exercised (in shares) | 36,000 | |||||||
Stock options exercised | $ 1 | 335 | ||||||
Stock-based compensation expense | 695 | |||||||
Net income | $ 158,512 | 158,512 | ||||||
Common stock cash dividend | (280,003) | |||||||
Cash flow hedges | 3,882 | 3,882 | ||||||
Other | 19 | 19 | ||||||
Repurchase of common stock (in shares) | 0 | |||||||
Repurchase of common stock | $ 0 | |||||||
Balance (in shares) at Apr. 30, 2022 | 150,000 | 101,712,000 | 150,000 | 8,374,000 | ||||
Balance at Apr. 30, 2022 | 239,438 | $ 150 | $ 1,017 | 39,405 | 216,181 | 6,918 | $ (5,100) | $ (19,133) |
Balance (in shares) | 150,000 | 101,712,000 | 150,000 | 8,374,000 | ||||
Stock options exercised (in shares) | 15,000 | |||||||
Stock options exercised | $ 0 | 311 | ||||||
Stock-based compensation expense | 677 | |||||||
Net income | 142,164 | 142,164 | ||||||
Common stock cash dividend | 0 | |||||||
Cash flow hedges | (10,130) | (10,130) | ||||||
Other | 27 | 27 | ||||||
Repurchase of common stock (in shares) | 0 | |||||||
Repurchase of common stock | $ 0 | |||||||
Balance (in shares) at Apr. 29, 2023 | 150,000 | 101,727,000 | 150,000 | 8,374,000 | ||||
Balance at Apr. 29, 2023 | $ 372,487 | $ 150 | $ 1,017 | 40,393 | 358,345 | (3,185) | $ (5,100) | $ (19,133) |
Balance (in shares) | 150,000 | 101,727,000 | 150,000 | 8,374,000 | ||||
Stock options exercised (in shares) | 215,000 | 215,000 | ||||||
Stock options exercised | $ 2 | 1,314 | ||||||
Stock-based compensation expense | 881 | |||||||
Net income | $ 176,732 | 176,732 | ||||||
Common stock cash dividend | 0 | |||||||
Cash flow hedges | 7,910 | 7,910 | ||||||
Other | 186 | 186 | ||||||
Repurchase of common stock (in shares) | 0 | |||||||
Repurchase of common stock | $ 0 | |||||||
Balance (in shares) at Apr. 27, 2024 | 101,942,000 | 8,374,000 | ||||||
Balance at Apr. 27, 2024 | $ 559,512 | $ 1,019 | $ 42,588 | $ 535,077 | $ 4,911 | $ (19,133) | ||
Balance (in shares) | 101,942,000 | 8,374,000 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||
Jul. 29, 2023 | Jul. 30, 2022 | Jul. 31, 2021 | Oct. 28, 2023 | Oct. 29, 2022 | Oct. 30, 2021 | Jan. 27, 2024 | Jan. 28, 2023 | Jan. 29, 2022 | Apr. 27, 2024 | Apr. 29, 2023 | Apr. 30, 2022 | |
Operating Activities: | ||||||||||||
Net income | $ 176,732 | $ 142,164 | $ 158,512 | |||||||||
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||||
Depreciation and amortization | 20,161 | 20,041 | 18,544 | |||||||||
Deferred income taxes | 907 | (821) | 5,326 | |||||||||
Loss (gain) on disposal of property, plant and equipment, net | 12 | 141 | (7) | |||||||||
Stock-based compensation expense | 881 | 677 | 695 | |||||||||
Non-cash operating lease expense | 14,039 | 13,240 | 13,258 | |||||||||
Changes in assets and liabilities: | ||||||||||||
Trade receivables | 2,081 | (11,326) | (7,150) | |||||||||
Inventories | 8,975 | 9,740 | (31,838) | |||||||||
Prepaid and other assets | $ 1,559 | $ 11,709 | $ 1,400 | $ (6,417) | $ 2,417 | $ (1,962) | $ (11,786) | $ 4,096 | $ (7,219) | (8,151) | 8,275 | (13,797) |
Accounts payable | (6,823) | (10,193) | 6,545 | |||||||||
Accrued and other liabilities | 9,478 | (397) | 11,003 | 1,612 | (796) | (7,073) | 1,115 | 3,007 | (5,235) | 3,885 | 2,941 | (3,731) |
Operating lease liabilities | (3,329) | (3,158) | (3,116) | (8,291) | (6,535) | (6,687) | (11,276) | (9,906) | (10,077) | (14,792) | (13,214) | (13,224) |
Net cash provided by operating activities | 70,143 | 40,617 | 56,658 | 102,059 | 82,238 | 85,964 | 137,465 | 112,253 | 92,552 | 197,907 | 161,665 | 133,133 |
Investing Activities: | ||||||||||||
Purchases to property, plant and equipment | (30,300) | (21,979) | (29,015) | |||||||||
Proceeds from sale of property, plant and equipment | 52 | 27 | 11 | |||||||||
Net cash used in investing activities | (30,248) | (21,952) | (29,004) | |||||||||
Financing Activities: | ||||||||||||
Borrowing under Loan Facility | 0 | 0 | 50,000 | |||||||||
Repayments under Loan Facility | 0 | (30,000) | (20,000) | |||||||||
Dividends paid on common stock | 0 | 0 | (280,003) | |||||||||
Proceeds from exercises of stock options | 1,314 | 311 | 335 | |||||||||
Net cash provided by (used in) financing activities | 1,314 | (29,689) | (249,668) | |||||||||
Net Increase (Decrease) in Cash and Equivalents | 168,973 | 110,024 | (145,539) | |||||||||
Cash and Cash Equivalents - Beginning of Year | 158,074 | 48,050 | 193,589 | 158,074 | 48,050 | 193,589 | 158,074 | 48,050 | 193,589 | 158,074 | 48,050 | 193,589 |
Cash and Cash Equivalents - End of Year | 327,047 | 158,074 | 48,050 | |||||||||
Supplemental Cash Flow Information: | ||||||||||||
Interest paid | 228 | 315 | 371 | |||||||||
Income taxes paid | 55,971 | 37,831 | 51,958 | |||||||||
Non-Cash Activities: | ||||||||||||
Right-of- use assets obtained in exchange for lease liabilities | $ 3,589 | $ 12,468 | $ 924 | $ 11,877 | $ 16,132 | $ 1,594 | $ 27,905 | $ 19,539 | $ 5,827 | $ 28,039 | $ 23,495 | $ 6,054 |
Note 1 - Significant Accounting
Note 1 - Significant Accounting Policies | 12 Months Ended |
Apr. 27, 2024 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | Notes to Consolidated Financial Statements National Beverage Corp. develops, produces, markets and sells a distinctive portfolio of sparkling waters, juices, energy drinks and carbonated soft drinks primarily in the United States and Canada. Incorporated in Delaware in 1985, 1. SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The consolidated financial statements have been prepared in accordance with United States Generally Accepted Accounting Principles (“GAAP”) and rules and regulations of the Securities and Exchange Commission. The consolidated financial statements include the accounts of National Beverage Corp. and all subsidiaries. All significant intercompany transactions and accounts have been eliminated. Our fiscal year ends the Saturday closest to April 30 five six April 27, 2024 ( 2024” April 29, 2023 ( 2023” April 30, 2022 ( 2022” 52 May 3, 2025 ( 2025” 53 Segment Reporting The Company operates as a single operating segment for purposes of presenting financial information and evaluating performance. As such, the accompanying consolidated financial statements present financial information in a format that is consistent with the internal financial information used by management. Use of Estimates The preparation of our financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Although these estimates are based on management’s knowledge of current events and anticipated future actions, actual results may Fair Value of Financial Instruments The carrying values of the Company’s financial instruments, including cash and cash equivalents, accounts receivable, accounts payable and accrued liabilities, approximate fair value due to the relatively short maturity of the respective instruments. Derivative financial instruments which are used to partially mitigate our exposure to changes in certain raw material costs are recorded at fair value. Derivative financial instruments are not 7 Cash and Cash Equivalents Cash and cash equivalents are comprised of cash and highly liquid securities (consisting primarily of bank deposits and short-term government money-market investments). Trade Receivables, Net Trade receivables are recorded at net realizable value, which includes an estimated allowance for credit losses. The Company extends credit based on an evaluation of each customer’s financial condition, generally without requiring collateral. Exposure to credit losses varies by customer principally due to the financial condition of each customer. The Company continually monitors our exposure to credit losses and maintains allowances for anticipated credit losses based on our experience with past due accounts, collectability and our analysis of customer data. Actual future losses from uncollectible accounts could differ from the Company’s estimate. Changes in the allowance for credit losses were as follows: (In thousands) Fiscal 2024 Fiscal 2023 Fiscal 2022 Balance at beginning of year $ 523 $ 559 $ 1,140 Net charge (credit) to expense 427 11 (581 ) Net charge-off (82 ) (47 ) - Balance at end of year $ 868 $ 523 $ 559 At April 27, 2024 April 29, 2023, 10% 10% three Inventories Inventories are stated at the lower of first first April 27, 2024 April 29, 2023 Property, Plant and Equipment, Net Property, plant and equipment is recorded at cost. Additions, replacements and betterments are capitalized, while maintenance and repairs that do not Leases The Company leases office and warehouse space, machinery and other equipment under noncancelable operating lease agreements and also leases certain warehouse space under lease agreements. The Company uses the following policies and assumptions to evaluate its leases: ● Determining a lease: ● Allocating lease and non-lease components: not ● Calculating the discount rate: not ● Recognizing leases: not 12 ● Rent increases or escalation clauses: ● Renewal options and/or purchase options: not ● Residual value guarantees, restrictions or covenants: not Intangible Assets Intangible assets at April 27, 2024 April 29, 2023 Impairment of Long-Lived Assets All long-lived assets, excluding goodwill and intangible assets not may not not may Insurance Programs The Company maintains self-insured and deductible programs for certain liability, medical and workers’ compensation exposures. Accordingly, the Company accrues for known claims and estimated incurred but not not April 27, 2024 April 29, 2023, Revenue Recognition Revenue is recognized upon delivery to our customers, based on written sales terms that do not may 30 may may not Shipping and Handling Costs Shipping and handling costs are reported in selling, general and administrative expenses in the accompanying consolidated statements of income. Shipping and handling costs were $77.8 million, $86.8 million and $87.7 million for Fiscal 2024, 2023 2022, may not Marketing Costs The Company utilizes a variety of marketing programs, including cooperative advertising programs with customers, to advertise and promote our products to consumers. Marketing costs are expensed when incurred, except for prepaid advertising and production costs, which are expensed when the advertising takes place. Marketing costs, which are included in selling, general and administrative expenses, were $50.0 million, $44.1 million and $47.6 million for Fiscal 2024, 2023 2022, Income Taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases, and the future tax consequences attributable to operating losses and tax credit carryforwards, if applicable. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance will be provided against deferred tax assets if the Company determines it is more likely than not not Earnings Per Common Share Basic earnings per common share is computed by dividing earnings available to common shareholders by the weighted average number of common shares outstanding during the period. Diluted earnings per common share is calculated in a similar manner, but includes the dilutive effect of stock options amounting to 201,000, 261,000 and 276,000 shares in Fiscal 2024, 2023 2022, 2024. Recently Issued Accounting Pronouncements In December 2023, 2023 09, 740 December 15, 2024. not In November 2023, 2023 07, 280 not December 15, 2023, December 15, 2024. not |
Note 2 - Property, Plant and Eq
Note 2 - Property, Plant and Equipment, Net | 12 Months Ended |
Apr. 27, 2024 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | 2. PROPERTY, PLANT AND EQUIPMENT, NET Property, plant and equipment, net at April 27, 2024 April 29, 2023 (In thousands) 2024 2023 Land $ 9,835 $ 9,835 Buildings and improvements 71,754 70,615 Machinery and equipment 314,079 289,567 Total 395,668 370,017 Less: accumulated depreciation (235,938 ) (221,594 ) Property, plant and equipment, net $ 159,730 $ 148,423 Depreciation expense was $18.9 million, $17.7 million and $15.8 million for Fiscal 2024, 2023 2022, |
Note 3 - Accrued Liabilities
Note 3 - Accrued Liabilities | 12 Months Ended |
Apr. 27, 2024 | |
Notes to Financial Statements | |
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | 3. ACCRUED LIABILITIES Accrued liabilities at April 27, 2024 April 29, 2023 (In thousands) 2024 2023 Accrued promotions $ 18,826 $ 15,865 Accrued compensation 13,920 13,036 Recycling deposits 5,743 5,123 Accrued insurance 2,687 2,498 Accrued freight 2,262 2,819 Other 3,127 7,977 Total $ 46,565 $ 47,318 |
Note 4 - Leases
Note 4 - Leases | 12 Months Ended |
Apr. 27, 2024 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | 4. LEASES The Company has entered into various non-cancelable operating lease agreements for certain of our offices, buildings, machinery and equipment expiring at various dates through July 2035. not not 2024, 2023 2022, April 27, 2024, April 29, 2023, 2024, 2023 2022, The following is a summary of future minimum lease payments and related liabilities for all non-cancelable operating leases at April 27, 2024: (In thousands) Fiscal 2025 $ 15,068 Fiscal 2026 13,382 Fiscal 2027 11,847 Fiscal 2028 6,946 Fiscal 2029 5,770 Thereafter 8,156 Total minimum lease payments including interest 61,168 Less: Amounts representing interest (6,401 ) Present value of minimum lease payments 54,767 Less: Current portion of operating lease liabilities (13,079 ) Non-current portion of operating lease liabilities $ 41,688 |
Note 5 - Debt
Note 5 - Debt | 12 Months Ended |
Apr. 27, 2024 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | 5. DEBT At April 27, 2024, October 28, 2024 May 30, 2025 SOFR April 27, 2024 April 29, 2023. April 27, 2024, On December 21, 2021, April 27, 2024 April 29, 2023. December 31, 2025 SOFR The Credit Facilities and Loan Facility require the subsidiary to maintain certain financial ratios, including debt to net worth and debt to EBITDA (as defined in the credit agreements) and contain other restrictions, none April 27, 2024, |
Note 6 - Capital Stock and Tran
Note 6 - Capital Stock and Transactions With Related Parties | 12 Months Ended |
Apr. 27, 2024 | |
Notes to Financial Statements | |
Equity [Text Block] | 6. CAPITAL STOCK AND TRANSACTIONS WITH RELATED PARTIES The Company paid a special cash dividend on Common Stock of approximately $280 million on each of December 29, 2021 January 29, 2021 13 The Company is a party to a management agreement with Corporate Management Advisors, Inc. (CMA), a corporation owned by our Chairman and Chief Executive Officer. This agreement was originated in 1991 two 1994, one no Under the terms of the agreement, CMA provides, subject to the direction and supervision of the Board of Directors of the Company, (i) senior corporate functions (including supervision of the Company’s financial, legal, executive recruitment, internal audit and information systems departments) as well as the services of a Chief Executive Officer and Chief Financial Officer and (ii) services in connection with acquisitions, dispositions and financings by the Company, including identifying and profiling acquisition candidates, negotiating and structuring potential transactions and arranging financing for any such transaction. CMA, through its personnel, also provides, to the extent possible, the stimulus and creativity to develop an innovative and dynamic persona for the Company, its products and corporate image. In order to fulfill its obligations under the management agreement, CMA employs numerous individuals, who, acting as a unit, provide management, administrative and creative functions for the Company. CMA and the Company are joint owners of a corporate aircraft and pursuant to a joint ownership agreement, each party agreed to pay certain expenses associated with the use of the aircraft. During the past three 2022, The management agreement provides that the Company will pay CMA an annual base fee equal to one percent of the consolidated net sales of the Company and further provides that the Compensation and Stock Option Committee and the Board of Directors may no 2024, 2023 2022, April 27, 2024 April 29, 2023, |
Note 7 - Derivative Financial I
Note 7 - Derivative Financial Instruments - USD ($) $ in Thousands | 12 Months Ended | |
Apr. 27, 2024 | Apr. 29, 2023 | |
Assets, Current [Abstract] | ||
Prepaid Expense and Other Assets, Current | $ 22,385 | $ 9,835 |
Liabilities, Current [Abstract] | ||
Accrued Liabilities, Current | $ 46,565 | $ 47,318 |
Notes to Financial Statements | ||
Derivative Instruments and Hedging Activities Disclosure [Text Block] | 7. DERIVATIVE FINANCIAL INSTRUMENTS From time to time, the Company enters into aluminum swap contracts to partially mitigate our exposure to changes in the cost of aluminum containers. Such financial instruments are designated and accounted for as cash flow hedges. Accordingly, gains or losses attributable to the effective portion of the cash flow hedge are reported in accumulated other comprehensive income (loss) (“AOCI”) and reclassified into cost of sales in the period in which the hedged transaction affects earnings. The following summarizes the gains (losses) recognized in the Consolidated Statements of Income and AOCI: (In thousands) Fiscal Fiscal Fiscal 2024 2023 2022 Recognized in AOCI- (Loss) gain before income taxes $ (425 ) $ (21,100 ) $ 15,105 Less: income tax (benefit) provision (111 ) (5,047 ) 3,613 Net (314 ) (16,053 ) 11,492 Reclassified from AOCI to cost of sales- (Loss) gain before income taxes (10,805 ) (7,785 ) 10,001 Less: income tax (benefit) provision (2,581 ) (1,862 ) 2,391 Net (8,224 ) (5,923 ) 7,610 Net change to AOCI $ 7,910 $ (10,130 ) $ 3,882 As of April 27, 2024, no 12 As of April 27, 2024, prepaid and other assets April 29, 2023, accrued liabilities not 2 |
Note 8 - Income Taxes
Note 8 - Income Taxes | 12 Months Ended |
Apr. 27, 2024 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 8. INCOME TAXES The provision for income taxes consisted of the following: (In thousands) Fiscal Fiscal Fiscal 2024 2023 2022 Current $ 49,683 $ 48,287 $ 42,555 Deferred 3,433 (4,009 ) 6,529 Total $ 53,116 $ 44,278 $ 49,084 Deferred taxes are recorded to give recognition to temporary differences between the tax bases of assets or liabilities and their reported amounts in the financial statements. Valuation allowances are established to reduce the carrying amounts of deferred tax assets when it is deemed more likely than not not April 27, 2024 April 29, 2023 (In thousands) 2024 2023 Deferred tax assets: Accrued expenses and other $ 3,923 $ 4,671 Inventory and amortizable assets 575 545 Total deferred tax assets 4,498 5,216 Deferred tax liabilities: Property 25,002 23,715 Intangibles and other 2,743 1,315 Total deferred tax liabilities 27,745 25,030 Deferred tax liabilities, net $ 23,247 $ 19,814 The reconciliation of the statutory federal income tax rate to our effective tax rate is as follows: Fiscal Fiscal Fiscal 2024 2023 2022 Statutory federal income tax rate 21.0 % 21.0 % 21.0 % State income taxes, net of federal benefit 2.8 2.9 2.9 Other differences ( 0.7 ) (0.2 ) (0.3 ) Effective income tax rate 23.1 % 23.7 % 23.6 % At April 27, 2024, 2024, (In thousands) 2024 2023 2022 Beginning balance $ 2,096 $ 2,079 $ 2,055 Increases due to current period tax positions 60 75 114 Decreases due to lapse of statute of limitations and audit resolutions (26 ) (58 ) (90 ) Ending balance $ 2,130 $ 2,096 $ 2,079 Accrued interest and penalties related to unrecognized tax benefits are recognized as a component of income tax expense. At April 27, 2024, 2024, Annual income tax returns are filed in the United States and in various state and local jurisdictions. A number of years may 2018 2017. |
Note 9 - Legal Proceedings
Note 9 - Legal Proceedings | 12 Months Ended |
Apr. 27, 2024 | |
Notes to Financial Statements | |
Legal Matters and Contingencies [Text Block] | 9. LEGAL PROCEEDINGS The Company has been named in certain legal proceedings, including those containing class action allegations. The Company is vigorously defending all legal proceedings and believes litigation will not |
Note 10 - Stock-based Compensat
Note 10 - Stock-based Compensation | 12 Months Ended |
Apr. 27, 2024 | |
Notes to Financial Statements | |
Share-Based Payment Arrangement [Text Block] | 10. STOCK-BASED COMPENSATION Our stock-based compensation program is a broad-based program designed to attract and retain personnel while also aligning participants’ interests with the interests of the shareholders. The 1991 may may no may five ten The Special Stock Option Plan provides for the issuance of stock options to purchase up to an aggregate of 3,600,000 shares of common stock. Options may ten The Key Employee Equity Partnership Program (“KEEP Program”) provides for the granting of stock options to purchase up to 480,000 shares of common stock to key employees, consultants, directors and officers. Participants who purchase shares of stock in the open market receive grants of stock options equal to 50% of the number of shares purchased, up to a maximum of 12,000 shares in any two six ten Stock options are accounted for under the fair value method of accounting using a Black-Scholes valuation model to estimate the stock option fair value at date of grant. The fair value of stock options is amortized to expense over the vesting period. The Company estimates expected forfeitures based upon historical experience. No stock options were granted in Fiscal 2024 2023. 2022, 2022 20.74%; .82%; The following is a summary of stock option activity for Fiscal 2024: Number of Shares Price (a) Options outstanding, beginning of year 521,300 $ 18.13 Granted - - Exercised (215,000 ) $ 6.12 Forfeited or cancelled (6,400 ) $ 31.49 Options outstanding, end of year 299,900 $ 25.48 Options vested and exercisable, end of year 164,580 $ 23.40 (a) Stock-based compensation expense was $0.9 million, $0.7 million, $0.7 million for Fiscal 2024, 2023 2022, 2024, 2023 2022, 2024, 2023 2022, The total intrinsic value for stock options exercised was $9.1 million, $0.4 million and $1.4 million for Fiscal 2024, 2023 2022, 2024, 2023 2022, At April 27, 2024, April 27, 2024 April 27, 2024 |
Note 11 - Pension Plans
Note 11 - Pension Plans | 12 Months Ended |
Apr. 27, 2024 | |
Notes to Financial Statements | |
Retirement Benefits [Text Block] | 11. PENSION PLANS The Company contributes to certain pension plans under collective bargaining agreements and to a discretionary profit sharing plan. Annual contributions (including contributions to multi-employer plans reflected below) were $3.8 million, $3.8 million and $4.0 million for Fiscal 2024, 2023 2022, The Company participates in three Summarized below is certain information regarding the Company’s participation in significant multi-employer pension plans including the financial improvement plan or rehabilitation plan status (“FIP/RP Status”) and the zone status under the Pension Protection Act (“PPA”). The most recent PPA zone status available in Fiscal 2024 2023 December 31, 2022 2021, PPA Zone Status Pension Fund Fiscal 2024 Fiscal 2023 FIP/RP Status Surcharge Imposed Central States, Southeast and Southwest Areas Pension Plan (EIN no. 36 6044243 Red Red Implemented Yes Western Conference of Teamsters Pension Trust Fund (EIN no. 91 6145047 Green Green Not No For the plan years ended December 31, 2022 December 31, 2021, not 5500 5% October 18, 2026. May 14, 2024 The Company’s contributions for all multi-employer pension plans for the last three (In millions) Fiscal Fiscal Fiscal Pension Fund 2024 2023 2022 CSSS Fund $ 1.6 $ 1.6 $ 1.5 WCT Fund 0.8 0.8 0.8 Other multi-employer pension funds 0.2 0.2 0.2 Total $ 2.6 $ 2.6 $ 2.5 |
Note 12 - Commitments and Conti
Note 12 - Commitments and Contingencies | 12 Months Ended |
Apr. 27, 2024 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 12. COMMITMENTS AND CONTINGENCIES The Company enters into various agreements with suppliers for the purchase of raw materials, the terms of which may April 27, 2024, 2026. At April 27, 2024, 2025. |
Note 13 - Subsequent Event
Note 13 - Subsequent Event | 12 Months Ended |
Apr. 27, 2024 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | 13. SUBSEQUENT EVENT On June 12, 2024 July 24, 2024 June 24, 2024 |
Note 14 - Restatement
Note 14 - Restatement | 12 Months Ended |
Apr. 27, 2024 | |
Notes to Financial Statements | |
Error Correction [Text Block] | 14. RESTATEMENT The Company identified corrections required to be made to its consolidated statements of cash flows for Fiscal 2023 2022 three April 27, 2024, not not 2023, 2022 three April 27, 2024. A summary of the impact on the consolidated statement of cash flows is as follows (in thousands): Fiscal Year Ended April 29, 2023 Fiscal Year Ended April 30, 2022 Operating Activities: As Reported Adjustments As Restated As Reported Adjustments As Restated Operating lease right-of-use asset $ (23,495 ) $ 23,495 $ - $ (6,054 ) $ 6,054 $ - Prepaid and other assets 15,472 (7,197 ) 8,275 (5,084 ) (8,713 ) (13,797 ) Accrued and other liabilities (4,256 ) 7,197 2,941 (12,444 ) 8,713 (3,731 ) Operating lease liabilities 10,281 (23,495 ) (13,214 ) (7,170 ) (6,054 ) (13,224 ) Net cash provided by operating activities 161,665 - 161,665 133,133 - 133,133 Right-of- use assets obtained in exchange for lease liabilities $ - $ 23,495 23,495 $ - $ 6,054 $ 6,054 Three Months Ended July 29, 2023 Six Months Ended October 28, 2023 Nine Months Ended January 27, 2024 Operating Activities: As Reported Adjustments As Restated As Reported Adjustments As Restated As Reported Adjustments As Restated Operating lease right-of-use asset $ (3,589 ) $ 3,589 $ - $ (11,877 ) $ 11,877 $ - $ (27,905 ) $ 27,905 $ - Prepaid and other assets 1,475 84 1,559 (600 ) (5,817 ) (6,417 ) (3,186 ) (8,600 ) (11,786 ) Accrued and other liabilities 9,562 (84 ) 9,478 (4,205 ) 5,817 1,612 (7,485 ) 8,600 1,115 Operating lease liabilities 287 (3,589 ) (3,329 ) 3,586 (11,877 ) (8,291 ) 16,629 (27,905 ) (11,276 ) Net cash provided by operating activities 70,143 - 70,143 102,059 - 102,059 137,465 - 137,465 Right-of-use assets obtained in exchange for lease liabilities $ - $ 3,589 $ 3,589 $ - $ 11,877 $ 11,877 $ - $ 27,905 $ 27,905 Three Months Ended July 30, 2022 Six Months Ended October 29, 2022 Nine Months Ended January 28, 2023 Operating Activities: As Reported Adjustments As Restated As Reported Adjustments As Restated As Reported Adjustments As Restated Operating lease right-of-use asset $ (12,468 ) $ 12,468 $ - $ (16,132 ) $ 16,132 $ - $ (19,539 ) $ 19,539 $ - Prepaid and other assets 11,656 53 11,709 3,187 (770 ) 2,417 1,832 2,264 4,096 Accrued and other liabilities (344 ) (53 ) (397 ) (1,566 ) 770 (796 ) 5,271 (2,264 ) 3,007 Operating lease liabilities 9,310 (12,468 ) (3,158 ) 9,597 (16,132 ) (6,535 ) 9,633 (19,539 ) (9,906 ) Net cash provided by operating activities 40,617 - 40,617 82,238 - 82,238 112,253 - 112,253 Right-of-use assets obtained in exchange for lease liabilities $ - $ 12,468 $ 12,468 $ - $ 16,132 $ 16,132 $ - $ 19,539 $ 19,539 Three Months Ended July 31, 2021 Six Months Ended October 30, 2021 Nine Months Ended January 29, 2022 Operating Activities: As Reported Adjustments As Restated As Reported Adjustments As Restated As Reported Adjustments As Restated Operating lease right-of-use asset $ (924 ) $ 924 $ - $ (1,594 ) $ 1,594 $ - $ (5,827 ) $ 5,827 $ - Prepaid and other assets (106 ) 1,506 1,400 510 (2,472 ) (1,962 ) (4,730 ) (2,489 ) (7,219 ) Accrued and other liabilities 12,509 (1,506 ) 11,003 (9,545 ) 2,472 (7,073 ) (7,724 ) 2,489 (5,235 ) Operating lease liabilities (2,192 ) (924 ) (3,116 ) (5,093 ) (1,594 ) (6,687 ) (4,250 ) (5,827 ) (10,077 ) Net cash provided by operating activities 56,658 - 56,658 85,964 - 85,964 92,552 - 92,552 Right-of-use assets obtained in exchange for lease liabilities $ - $ 924 $ 924 $ - $ 1,594 $ 1,594 $ - $ 5,827 $ 5,827 |
Insider Trading Arrangements
Insider Trading Arrangements | 12 Months Ended |
Apr. 27, 2024 | |
Insider Trading Arr Line Items | |
Material Terms of Trading Arrangement [Text Block] | ITEM 9B. OTHER INFORMATION Not |
Rule 10b5-1 Arrangement Terminated [Flag] | false |
Rule 10b5-1 Arrangement Adopted [Flag] | false |
Non-Rule 10b5-1 Arrangement Terminated [Flag] | false |
Non-Rule 10b5-1 Arrangement Adopted [Flag] | false |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Apr. 27, 2024 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation The consolidated financial statements have been prepared in accordance with United States Generally Accepted Accounting Principles (“GAAP”) and rules and regulations of the Securities and Exchange Commission. The consolidated financial statements include the accounts of National Beverage Corp. and all subsidiaries. All significant intercompany transactions and accounts have been eliminated. Our fiscal year ends the Saturday closest to April 30 five six April 27, 2024 ( 2024” April 29, 2023 ( 2023” April 30, 2022 ( 2022” 52 May 3, 2025 ( 2025” 53 |
Reclassification, Comparability Adjustment [Policy Text Block] | Segment Reporting The Company operates as a single operating segment for purposes of presenting financial information and evaluating performance. As such, the accompanying consolidated financial statements present financial information in a format that is consistent with the internal financial information used by management. |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates The preparation of our financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Although these estimates are based on management’s knowledge of current events and anticipated future actions, actual results may |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair Value of Financial Instruments The carrying values of the Company’s financial instruments, including cash and cash equivalents, accounts receivable, accounts payable and accrued liabilities, approximate fair value due to the relatively short maturity of the respective instruments. Derivative financial instruments which are used to partially mitigate our exposure to changes in certain raw material costs are recorded at fair value. Derivative financial instruments are not 7 |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents Cash and cash equivalents are comprised of cash and highly liquid securities (consisting primarily of bank deposits and short-term government money-market investments). |
Receivable [Policy Text Block] | Trade Receivables, Net Trade receivables are recorded at net realizable value, which includes an estimated allowance for credit losses. The Company extends credit based on an evaluation of each customer’s financial condition, generally without requiring collateral. Exposure to credit losses varies by customer principally due to the financial condition of each customer. The Company continually monitors our exposure to credit losses and maintains allowances for anticipated credit losses based on our experience with past due accounts, collectability and our analysis of customer data. Actual future losses from uncollectible accounts could differ from the Company’s estimate. Changes in the allowance for credit losses were as follows: (In thousands) Fiscal 2024 Fiscal 2023 Fiscal 2022 Balance at beginning of year $ 523 $ 559 $ 1,140 Net charge (credit) to expense 427 11 (581 ) Net charge-off (82 ) (47 ) - Balance at end of year $ 868 $ 523 $ 559 At April 27, 2024 April 29, 2023, 10% 10% three |
Inventory, Policy [Policy Text Block] | Inventories Inventories are stated at the lower of first first April 27, 2024 April 29, 2023 |
Property, Plant and Equipment, Policy [Policy Text Block] | Property, Plant and Equipment, Net Property, plant and equipment is recorded at cost. Additions, replacements and betterments are capitalized, while maintenance and repairs that do not |
Lessee, Leases [Policy Text Block] | Leases The Company leases office and warehouse space, machinery and other equipment under noncancelable operating lease agreements and also leases certain warehouse space under lease agreements. The Company uses the following policies and assumptions to evaluate its leases: ● Determining a lease: ● Allocating lease and non-lease components: not ● Calculating the discount rate: not ● Recognizing leases: not 12 ● Rent increases or escalation clauses: ● Renewal options and/or purchase options: not ● Residual value guarantees, restrictions or covenants: not |
Goodwill and Intangible Assets, Intangible Assets, Policy [Policy Text Block] | Intangible Assets Intangible assets at April 27, 2024 April 29, 2023 |
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block] | Impairment of Long-Lived Assets All long-lived assets, excluding goodwill and intangible assets not may not not may |
Liability Reserve Estimate, Policy [Policy Text Block] | Insurance Programs The Company maintains self-insured and deductible programs for certain liability, medical and workers’ compensation exposures. Accordingly, the Company accrues for known claims and estimated incurred but not not April 27, 2024 April 29, 2023, |
Revenue [Policy Text Block] | Revenue Recognition Revenue is recognized upon delivery to our customers, based on written sales terms that do not may 30 may may not |
Shipping and Handling Cost, Policy [Policy Text Block] | Shipping and Handling Costs Shipping and handling costs are reported in selling, general and administrative expenses in the accompanying consolidated statements of income. Shipping and handling costs were $77.8 million, $86.8 million and $87.7 million for Fiscal 2024, 2023 2022, may not |
Advertising Cost [Policy Text Block] | Marketing Costs The Company utilizes a variety of marketing programs, including cooperative advertising programs with customers, to advertise and promote our products to consumers. Marketing costs are expensed when incurred, except for prepaid advertising and production costs, which are expensed when the advertising takes place. Marketing costs, which are included in selling, general and administrative expenses, were $50.0 million, $44.1 million and $47.6 million for Fiscal 2024, 2023 2022, |
Income Tax, Policy [Policy Text Block] | Income Taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases, and the future tax consequences attributable to operating losses and tax credit carryforwards, if applicable. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance will be provided against deferred tax assets if the Company determines it is more likely than not not |
Earnings Per Share, Policy [Policy Text Block] | Earnings Per Common Share Basic earnings per common share is computed by dividing earnings available to common shareholders by the weighted average number of common shares outstanding during the period. Diluted earnings per common share is calculated in a similar manner, but includes the dilutive effect of stock options amounting to 201,000, 261,000 and 276,000 shares in Fiscal 2024, 2023 2022, 2024. |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Issued Accounting Pronouncements In December 2023, 2023 09, 740 December 15, 2024. not In November 2023, 2023 07, 280 not December 15, 2023, December 15, 2024. not |
Note 1 - Significant Accounti_2
Note 1 - Significant Accounting Policies (Tables) | 12 Months Ended |
Apr. 27, 2024 | |
Notes Tables | |
Financing Receivable, Allowance for Credit Loss [Table Text Block] | (In thousands) Fiscal 2024 Fiscal 2023 Fiscal 2022 Balance at beginning of year $ 523 $ 559 $ 1,140 Net charge (credit) to expense 427 11 (581 ) Net charge-off (82 ) (47 ) - Balance at end of year $ 868 $ 523 $ 559 |
Note 2 - Property, Plant and _2
Note 2 - Property, Plant and Equipment, Net (Tables) | 12 Months Ended |
Apr. 27, 2024 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | (In thousands) 2024 2023 Land $ 9,835 $ 9,835 Buildings and improvements 71,754 70,615 Machinery and equipment 314,079 289,567 Total 395,668 370,017 Less: accumulated depreciation (235,938 ) (221,594 ) Property, plant and equipment, net $ 159,730 $ 148,423 |
Note 3 - Accrued Liabilities (T
Note 3 - Accrued Liabilities (Tables) | 12 Months Ended |
Apr. 27, 2024 | |
Notes Tables | |
Schedule of Accrued Liabilities [Table Text Block] | (In thousands) 2024 2023 Accrued promotions $ 18,826 $ 15,865 Accrued compensation 13,920 13,036 Recycling deposits 5,743 5,123 Accrued insurance 2,687 2,498 Accrued freight 2,262 2,819 Other 3,127 7,977 Total $ 46,565 $ 47,318 |
Note 4 - Leases (Tables)
Note 4 - Leases (Tables) | 12 Months Ended |
Apr. 27, 2024 | |
Notes Tables | |
Lessee, Operating Lease, Liability, to be Paid, Maturity [Table Text Block] | (In thousands) Fiscal 2025 $ 15,068 Fiscal 2026 13,382 Fiscal 2027 11,847 Fiscal 2028 6,946 Fiscal 2029 5,770 Thereafter 8,156 Total minimum lease payments including interest 61,168 Less: Amounts representing interest (6,401 ) Present value of minimum lease payments 54,767 Less: Current portion of operating lease liabilities (13,079 ) Non-current portion of operating lease liabilities $ 41,688 |
Note 7 - Derivative Financial_2
Note 7 - Derivative Financial Instruments (Tables) | 12 Months Ended |
Apr. 27, 2024 | |
Notes Tables | |
Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location [Table Text Block] | (In thousands) Fiscal Fiscal Fiscal 2024 2023 2022 Recognized in AOCI- (Loss) gain before income taxes $ (425 ) $ (21,100 ) $ 15,105 Less: income tax (benefit) provision (111 ) (5,047 ) 3,613 Net (314 ) (16,053 ) 11,492 Reclassified from AOCI to cost of sales- (Loss) gain before income taxes (10,805 ) (7,785 ) 10,001 Less: income tax (benefit) provision (2,581 ) (1,862 ) 2,391 Net (8,224 ) (5,923 ) 7,610 Net change to AOCI $ 7,910 $ (10,130 ) $ 3,882 |
Note 8 - Income Taxes (Tables)
Note 8 - Income Taxes (Tables) | 12 Months Ended |
Apr. 27, 2024 | |
Notes Tables | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | (In thousands) Fiscal Fiscal Fiscal 2024 2023 2022 Current $ 49,683 $ 48,287 $ 42,555 Deferred 3,433 (4,009 ) 6,529 Total $ 53,116 $ 44,278 $ 49,084 |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | (In thousands) 2024 2023 Deferred tax assets: Accrued expenses and other $ 3,923 $ 4,671 Inventory and amortizable assets 575 545 Total deferred tax assets 4,498 5,216 Deferred tax liabilities: Property 25,002 23,715 Intangibles and other 2,743 1,315 Total deferred tax liabilities 27,745 25,030 Deferred tax liabilities, net $ 23,247 $ 19,814 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Fiscal Fiscal Fiscal 2024 2023 2022 Statutory federal income tax rate 21.0 % 21.0 % 21.0 % State income taxes, net of federal benefit 2.8 2.9 2.9 Other differences ( 0.7 ) (0.2 ) (0.3 ) Effective income tax rate 23.1 % 23.7 % 23.6 % |
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block] | (In thousands) 2024 2023 2022 Beginning balance $ 2,096 $ 2,079 $ 2,055 Increases due to current period tax positions 60 75 114 Decreases due to lapse of statute of limitations and audit resolutions (26 ) (58 ) (90 ) Ending balance $ 2,130 $ 2,096 $ 2,079 |
Note 10 - Stock-based Compens_2
Note 10 - Stock-based Compensation (Tables) | 12 Months Ended |
Apr. 27, 2024 | |
Notes Tables | |
Share-Based Payment Arrangement, Option, Activity [Table Text Block] | Number of Shares Price (a) Options outstanding, beginning of year 521,300 $ 18.13 Granted - - Exercised (215,000 ) $ 6.12 Forfeited or cancelled (6,400 ) $ 31.49 Options outstanding, end of year 299,900 $ 25.48 Options vested and exercisable, end of year 164,580 $ 23.40 |
Note 11 - Pension Plans (Tables
Note 11 - Pension Plans (Tables) | 12 Months Ended |
Apr. 27, 2024 | |
Notes Tables | |
Multiemployer Plan [Table Text Block] | (In millions) Fiscal Fiscal Fiscal Pension Fund 2024 2023 2022 CSSS Fund $ 1.6 $ 1.6 $ 1.5 WCT Fund 0.8 0.8 0.8 Other multi-employer pension funds 0.2 0.2 0.2 Total $ 2.6 $ 2.6 $ 2.5 |
Note 14 - Restatement (Tables)
Note 14 - Restatement (Tables) | 12 Months Ended |
Apr. 27, 2024 | |
Notes Tables | |
Schedule of Error Corrections and Prior Period Adjustments [Table Text Block] | Fiscal Year Ended April 29, 2023 Fiscal Year Ended April 30, 2022 Operating Activities: As Reported Adjustments As Restated As Reported Adjustments As Restated Operating lease right-of-use asset $ (23,495 ) $ 23,495 $ - $ (6,054 ) $ 6,054 $ - Prepaid and other assets 15,472 (7,197 ) 8,275 (5,084 ) (8,713 ) (13,797 ) Accrued and other liabilities (4,256 ) 7,197 2,941 (12,444 ) 8,713 (3,731 ) Operating lease liabilities 10,281 (23,495 ) (13,214 ) (7,170 ) (6,054 ) (13,224 ) Net cash provided by operating activities 161,665 - 161,665 133,133 - 133,133 Right-of- use assets obtained in exchange for lease liabilities $ - $ 23,495 23,495 $ - $ 6,054 $ 6,054 Three Months Ended July 29, 2023 Six Months Ended October 28, 2023 Nine Months Ended January 27, 2024 Operating Activities: As Reported Adjustments As Restated As Reported Adjustments As Restated As Reported Adjustments As Restated Operating lease right-of-use asset $ (3,589 ) $ 3,589 $ - $ (11,877 ) $ 11,877 $ - $ (27,905 ) $ 27,905 $ - Prepaid and other assets 1,475 84 1,559 (600 ) (5,817 ) (6,417 ) (3,186 ) (8,600 ) (11,786 ) Accrued and other liabilities 9,562 (84 ) 9,478 (4,205 ) 5,817 1,612 (7,485 ) 8,600 1,115 Operating lease liabilities 287 (3,589 ) (3,329 ) 3,586 (11,877 ) (8,291 ) 16,629 (27,905 ) (11,276 ) Net cash provided by operating activities 70,143 - 70,143 102,059 - 102,059 137,465 - 137,465 Right-of-use assets obtained in exchange for lease liabilities $ - $ 3,589 $ 3,589 $ - $ 11,877 $ 11,877 $ - $ 27,905 $ 27,905 Three Months Ended July 30, 2022 Six Months Ended October 29, 2022 Nine Months Ended January 28, 2023 Operating Activities: As Reported Adjustments As Restated As Reported Adjustments As Restated As Reported Adjustments As Restated Operating lease right-of-use asset $ (12,468 ) $ 12,468 $ - $ (16,132 ) $ 16,132 $ - $ (19,539 ) $ 19,539 $ - Prepaid and other assets 11,656 53 11,709 3,187 (770 ) 2,417 1,832 2,264 4,096 Accrued and other liabilities (344 ) (53 ) (397 ) (1,566 ) 770 (796 ) 5,271 (2,264 ) 3,007 Operating lease liabilities 9,310 (12,468 ) (3,158 ) 9,597 (16,132 ) (6,535 ) 9,633 (19,539 ) (9,906 ) Net cash provided by operating activities 40,617 - 40,617 82,238 - 82,238 112,253 - 112,253 Right-of-use assets obtained in exchange for lease liabilities $ - $ 12,468 $ 12,468 $ - $ 16,132 $ 16,132 $ - $ 19,539 $ 19,539 Three Months Ended July 31, 2021 Six Months Ended October 30, 2021 Nine Months Ended January 29, 2022 Operating Activities: As Reported Adjustments As Restated As Reported Adjustments As Restated As Reported Adjustments As Restated Operating lease right-of-use asset $ (924 ) $ 924 $ - $ (1,594 ) $ 1,594 $ - $ (5,827 ) $ 5,827 $ - Prepaid and other assets (106 ) 1,506 1,400 510 (2,472 ) (1,962 ) (4,730 ) (2,489 ) (7,219 ) Accrued and other liabilities 12,509 (1,506 ) 11,003 (9,545 ) 2,472 (7,073 ) (7,724 ) 2,489 (5,235 ) Operating lease liabilities (2,192 ) (924 ) (3,116 ) (5,093 ) (1,594 ) (6,687 ) (4,250 ) (5,827 ) (10,077 ) Net cash provided by operating activities 56,658 - 56,658 85,964 - 85,964 92,552 - 92,552 Right-of-use assets obtained in exchange for lease liabilities $ - $ 924 $ 924 $ - $ 1,594 $ 1,594 $ - $ 5,827 $ 5,827 |
Note 1 - Significant Accounti_3
Note 1 - Significant Accounting Policies (Details Textual) Pure in Thousands, $ in Millions | 12 Months Ended | ||
Apr. 27, 2024 USD ($) shares | Apr. 29, 2023 USD ($) shares | Apr. 30, 2022 USD ($) shares | |
Inventory, Finished Goods, Gross | $ 50.3 | $ 54.3 | |
Inventory, Raw Materials, Gross | 34.3 | 39.2 | |
Self Insurance Reserve and Coverage by Insurance, Noncurrent | 5.5 | 5.5 | |
Self Insurance Reserve, Noncurrent, Covered by Insurance | 4 | 4.1 | |
Shipping and Handling Costs | 77.8 | 86.8 | $ 87.7 |
Marketing Expense | $ 50 | $ 44.1 | $ 47.6 |
Incremental Common Shares Attributable to Dilutive Effect of Equity Unit Purchase Agreements (in shares) | shares | 201,000 | 261,000 | 276,000 |
Building and Building Improvements [Member] | Minimum [Member] | |||
Property, Plant and Equipment, Useful Life (Year) | 5 years | ||
Building and Building Improvements [Member] | Maximum [Member] | |||
Property, Plant and Equipment, Useful Life (Year) | 30 years | ||
Machinery and Equipment [Member] | Minimum [Member] | |||
Property, Plant and Equipment, Useful Life (Year) | 3 years | ||
Machinery and Equipment [Member] | Maximum [Member] | |||
Property, Plant and Equipment, Useful Life (Year) | 15 years | ||
Customer Concentration Risk [Member] | Accounts Receivable [Member] | |||
Number of Major Customers | 0 | 0 | |
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | |||
Number of Major Customers | 0 | 0 | 0 |
Note 1 - Significant Accounti_4
Note 1 - Significant Accounting Policies - Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Apr. 27, 2024 | Apr. 29, 2023 | Apr. 30, 2022 | |
Balance at beginning of year | $ 523 | $ 559 | $ 1,140 |
Net charge (credit) to expense | 427 | 11 | (581) |
Net charge-off | (82) | (47) | 0 |
Balance at end of year | $ 868 | $ 523 | $ 559 |
Note 2 - Property, Plant and _3
Note 2 - Property, Plant and Equipment, Net (Details Textual) - USD ($) $ in Millions | 12 Months Ended | ||
Apr. 27, 2024 | Apr. 29, 2023 | Apr. 30, 2022 | |
Depreciation | $ 18.9 | $ 17.7 | $ 15.8 |
Note 2 - Property, Plant and _4
Note 2 - Property, Plant and Equipment - Summary of Property, Plant and Equipment (Details) - USD ($) $ in Thousands | Apr. 27, 2024 | Apr. 29, 2023 |
Land | $ 9,835 | $ 9,835 |
Buildings and improvements | 71,754 | 70,615 |
Machinery and equipment | 314,079 | 289,567 |
Total | 395,668 | 370,017 |
Less: accumulated depreciation | (235,938) | (221,594) |
Property, plant and equipment, net | $ 159,730 | $ 148,423 |
Note 3 - Accrued Liabilities -
Note 3 - Accrued Liabilities - Summary of Accrued Liabilities (Details) - USD ($) $ in Thousands | Apr. 27, 2024 | Apr. 29, 2023 |
Accrued promotions | $ 18,826 | $ 15,865 |
Accrued compensation | 13,920 | 13,036 |
Recycling deposits | 5,743 | 5,123 |
Accrued insurance | 2,687 | 2,498 |
Accrued freight | 2,262 | 2,819 |
Other | 3,127 | 7,977 |
Total | $ 46,565 | $ 47,318 |
Note 4 - Leases (Details Textua
Note 4 - Leases (Details Textual) - USD ($) $ in Millions | 12 Months Ended | ||
Apr. 27, 2024 | Apr. 29, 2023 | Apr. 30, 2022 | |
Operating Lease, Cost | $ 15.9 | $ 14.4 | $ 14.5 |
Operating Lease, Weighted Average Remaining Lease Term (Year) | 4 years 9 months 18 days | 4 years 4 months 2 days | |
Operating Lease, Weighted Average Discount Rate, Percent | 4.30% | 3.30% | |
Operating Lease, Payments | $ 15.4 | $ 14.3 | $ 14.7 |
Note 4 - Leases - Future Minimu
Note 4 - Leases - Future Minimum Lease Payments and Related Liabilities for Non-cancelable Operating Leases (Details) - USD ($) $ in Thousands | Apr. 27, 2024 | Apr. 29, 2023 |
Fiscal 2025 | $ 15,068 | |
Fiscal 2026 | 13,382 | |
Fiscal 2027 | 11,847 | |
Fiscal 2028 | 6,946 | |
Fiscal 2029 | 5,770 | |
Thereafter | 8,156 | |
Total minimum lease payments including interest | 61,168 | |
Less: Amounts representing interest | (6,401) | |
Present value of minimum lease payments | 54,767 | |
Less: Current portion of operating lease liabilities | (13,079) | $ (11,745) |
Non-current portion of operating lease liabilities | $ 41,688 | $ 29,782 |
Note 5 - Debt (Details Textual)
Note 5 - Debt (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 21, 2021 | Apr. 27, 2024 | Apr. 29, 2023 | |
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration] | Secured Overnight Financing Rate (SOFR) [Member] | Secured Overnight Financing Rate (SOFR) [Member] | |
Term Loan Facility [Member] | |||
Debt Instrument, Basis Spread on Variable Rate | 1.05% | ||
Debt Instrument, Face Amount | $ 50,000 | ||
Long-Term Debt, Gross | $ 0 | $ 0 | |
Revolving Credit Facility [Member] | |||
Line of Credit Facility, Maximum Borrowing Capacity | $ 100,000 | ||
Debt Instrument, Basis Spread on Variable Rate | 1.05% | ||
Long-Term Line of Credit | $ 0 | $ 0 | |
Letters of Credit Outstanding, Amount | 2,200 | ||
Line of Credit Facility, Remaining Borrowing Capacity | $ 97,800 |
Note 6 - Capital Stock and Tr_2
Note 6 - Capital Stock and Transactions With Related Parties (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | 400 Months Ended | |||||
Dec. 29, 2021 | Jan. 29, 2021 | Apr. 27, 2024 | Apr. 29, 2023 | Apr. 30, 2022 | Apr. 27, 2024 | Apr. 30, 2023 | |
Payments of Ordinary Dividends, Common Stock | $ 280,000 | $ 280,000 | $ 0 | $ 0 | $ 280,003 | ||
Common Stock, Dividends, Per Share, Cash Paid (in dollars per share) | $ 3 | $ 3 | |||||
CMA [Member] | |||||||
Averaged Operating Costs | 1,100 | ||||||
Lease Buy-down Payments and Financing Costs | 400 | ||||||
Related Party Transaction, Amounts of Transaction | 11,900 | $ 11,700 | $ 11,400 | ||||
Accounts Payable | $ 3,000 | $ 3,000 | $ 2,900 | ||||
CMA [Member] | Annual Fee Agreement Based on Percentage of Consolidated Net Sales [Member] | |||||||
Related Party Transaction, Rate | 1% | ||||||
Payment for Incentive Fee | $ 0 |
Note 7 - Derivative Financial_3
Note 7 - Derivative Financial Instruments (Details Textual) - USD ($) $ in Thousands | Apr. 27, 2024 | Apr. 29, 2023 |
Assets, Current [Abstract] | ||
Prepaid Expense and Other Assets, Current | $ 22,385 | $ 9,835 |
Liabilities, Current [Abstract] | ||
Accrued Liabilities, Current | 46,565 | $ 47,318 |
Derivative, Notional Amount | 52,400 | |
Price Risk Cash Flow Hedge Unrealized Gain (Loss) to be Reclassified During Next 12 Months | 5,700 | |
Derivative Asset, Current | $ 5,700 | |
Derivative Asset, Current, Statement of Financial Position [Extensible Enumeration] | Prepaid Expense and Other Assets, Current | |
Derivative Liability, Current, Statement of Financial Position [Extensible Enumeration] | Accrued Liabilities, Current | |
Derivative Liability, Current | $ 4,600 |
Note 7 - Derivative Financial_4
Note 7 - Derivative Financial Instruments - Derivatives Instruments, Statements of Financial Performance and Financial Position (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Apr. 27, 2024 | Apr. 29, 2023 | Apr. 30, 2022 | |
(Loss) gain before income taxes | $ (425) | $ (21,100) | $ 15,105 |
Less: income tax (benefit) provision | (111) | (5,047) | 3,613 |
Net | (314) | (16,053) | 11,492 |
(Loss) gain before income taxes | (10,805) | (7,785) | 10,001 |
Less: income tax (benefit) provision | (2,581) | (1,862) | 2,391 |
Net | (8,224) | (5,923) | 7,610 |
Net change to AOCI | $ 7,910 | $ (10,130) | $ 3,882 |
Note 8 - Income Taxes (Details
Note 8 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |||
Apr. 27, 2024 | Apr. 29, 2023 | Apr. 30, 2022 | May 01, 2021 | |
Unrecognized Tax Benefits, Ending Balance | $ 2,130 | $ 2,096 | $ 2,079 | $ 2,055 |
Changes in Income Tax if All Uncertain Tax Positions Prevail | 1,700 | |||
Unrecognized Tax Benefits, Interest on Income Taxes Accrued | $ 300 | |||
Domestic Tax Jurisdiction [Member] | Internal Revenue Service (IRS) [Member] | ||||
Open Tax Year | 2018 2019 2020 2021 2022 2023 | |||
State and Local Jurisdiction [Member] | Internal Revenue Service (IRS) [Member] | ||||
Open Tax Year | 2017 2018 2019 2020 2021 2022 2023 |
Note 8 - Income Taxes - Compone
Note 8 - Income Taxes - Components of Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Apr. 27, 2024 | Apr. 29, 2023 | Apr. 30, 2022 | |
Current | $ 49,683 | $ 48,287 | $ 42,555 |
Deferred | 3,433 | (4,009) | 6,529 |
Total | $ 53,116 | $ 44,278 | $ 49,084 |
Note 8 - Income Taxes - Deferre
Note 8 - Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands | Apr. 27, 2024 | Apr. 29, 2023 |
Deferred tax assets: | ||
Accrued expenses and other | $ 3,923 | $ 4,671 |
Inventory and amortizable assets | 575 | 545 |
Total deferred tax assets | 4,498 | 5,216 |
Deferred tax liabilities: | ||
Property | 25,002 | 23,715 |
Intangibles and other | 2,743 | 1,315 |
Total deferred tax liabilities | 27,745 | 25,030 |
Deferred tax liabilities, net | $ 23,247 | $ 19,814 |
Note 8 - Income Taxes - Reconci
Note 8 - Income Taxes - Reconciliation of Income Tax Rate (Details) | 12 Months Ended | ||
Apr. 27, 2024 | Apr. 29, 2023 | Apr. 30, 2022 | |
Statutory federal income tax rate | 21% | 21% | 21% |
State income taxes, net of federal benefit | 2.80% | 2.90% | 2.90% |
Other differences | (0.70%) | (0.20%) | (0.30%) |
Effective income tax rate | 23.10% | 23.70% | 23.60% |
Note 8 - Income Taxes - Unrecog
Note 8 - Income Taxes - Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Apr. 27, 2024 | Apr. 29, 2023 | Apr. 30, 2022 | |
Beginning balance | $ 2,096 | $ 2,079 | $ 2,055 |
Increases due to current period tax positions | 60 | 75 | 114 |
Decreases due to lapse of statute of limitations and audit resolutions | (26) | (58) | (90) |
Ending balance | $ 2,130 | $ 2,096 | $ 2,079 |
Note 10 - Stock-based Compens_3
Note 10 - Stock-based Compensation (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Apr. 27, 2024 | Apr. 29, 2023 | Apr. 30, 2022 | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares) | 0 | 0 | 30,000 |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share) | $ 6.91 | ||
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Term (Year) | 6 years 6 months | ||
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 20.74% | ||
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 0.82% | ||
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 2.48% | ||
Share-Based Payment Arrangement, Expense | $ 900 | $ 700 | $ 700 |
Share-Based Payment Arrangement, Expense, Tax Benefit | 1,700 | 200 | 400 |
Share-Based Payment Arrangement, Exercise of Option, Tax Benefit | 1,500 | 100 | 300 |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period, Intrinsic Value | 9,100 | 400 | 1,400 |
Proceeds from Stock Options Exercised | 1,314 | $ 311 | $ 335 |
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount | $ 1,400 | ||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 1 year 7 months 6 days | ||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term (Year) | 5 years 4 months 24 days | ||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Intrinsic Value | $ 5,500 | ||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term (Year) | 4 years 8 months 12 days | ||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercisable, Intrinsic Value | $ 3,300 | ||
Omnibus Plan [Member] | |||
Share Based Compensation Arrangement by Share Based Payment Award Number of Shares Authorized Per Individual (in shares) | 3,360,000 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 5 years | ||
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period (Year) | 10 years | ||
Omnibus Plan [Member] | Stock Options or Stock Awards [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares) | 9,600,000 | ||
Omnibus Plan [Member] | SARS Dividend Equivalents and Other Awards [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares) | 9,600,000 | ||
Special Stock Option Plan [Member] | Determined by Board of Directors [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares) | 3,600,000 | ||
Special Stock Option Plan [Member] | Share-Based Payment Arrangement, Option [Member] | |||
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period (Year) | 10 years | ||
Special Stock Option Plan [Member] | Determined By Chairman Member | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares) | 100,000 | ||
KEEP Program [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares) | 480,000 | ||
Share Based Compensation Arrangement by Share Based Payment Award Number of Shares Authorized Per Individual (in shares) | 12,000 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 6 years | ||
Share Based Compensation Arrangement by Share Based Payment Award Percentage of Purchased Shares Matched | 50% | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants, Period (Year) | 2 years | ||
Share-based Compensation Arrangement by Share-based Payment Award, Purchase Price of Common Stock, Percent | 60% | ||
KEEP Program [Member] | Share-Based Payment Arrangement, Option [Member] | |||
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period (Year) | 10 years |
Note 10 - Stock-based Compens_4
Note 10 - Stock-based Compensation - Summary of Stock Option Activity (Details) - $ / shares | 12 Months Ended | |||
Apr. 27, 2024 | Apr. 29, 2023 | Apr. 30, 2022 | ||
Options outstanding, beginning of year (in shares) | 521,300 | |||
Options outstanding, beginning of year, price (in dollars per share) | [1] | $ 18.13 | ||
Granted (in shares) | 0 | 0 | 30,000 | |
Granted, price (in dollars per share) | [1] | $ 0 | ||
Exercised (in shares) | (215,000) | |||
Exercised, price (in dollars per share) | [1] | $ 6.12 | ||
Forfeited or cancelled (in shares) | (6,400) | |||
Forfeited or cancelled, price (in dollars per share) | [1] | $ 31.49 | ||
Options outstanding, end of year (in shares) | 299,900 | 521,300 | ||
Options outstanding, end of year, price (in dollars per share) | [1] | $ 25.48 | $ 18.13 | |
Options vested and exercisable, end of year (in shares) | 164,580 | |||
Options vested and exercisable, end of year (in dollars per share) | [1] | $ 23.4 | ||
[1]Weighted average exercise price. |
Note 11 - Pension Plans (Detail
Note 11 - Pension Plans (Details Textual) - USD ($) $ in Millions | 12 Months Ended | ||
Apr. 27, 2024 | Apr. 29, 2023 | Apr. 30, 2022 | |
Payment for Pension Benefits | $ 3.8 | $ 3.8 | $ 4 |
Note 11 - Pension Plans - Contr
Note 11 - Pension Plans - Contributions for All Multi-employer Pension Plans (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Apr. 27, 2024 | Apr. 29, 2023 | Apr. 30, 2022 | |
Fund | $ 2.6 | $ 2.6 | $ 2.5 |
CSSS Fund [Member] | |||
Fund | 1.6 | 1.6 | 1.5 |
WCT Fund [Member] | |||
Fund | 0.8 | 0.8 | 0.8 |
Other Multi-employer Pension Funds [Member] | |||
Fund | $ 0.2 | $ 0.2 | $ 0.2 |
Note 12 - Commitments and Con_2
Note 12 - Commitments and Contingencies (Details Textual) $ in Millions | Apr. 27, 2024 USD ($) |
Raw Material [Member] | |
Purchase Obligation, to be Paid, Year One | $ 35.4 |
Plant and Equipment [Member] | |
Purchase Obligation, to be Paid, Year One | $ 3.7 |
Note 13 - Subsequent Event (Det
Note 13 - Subsequent Event (Details Textual) - Subsequent Event [Member] | Jun. 12, 2024 $ / shares |
Dividends Payable, Amount Per Share (in dollars per share) | $ 3.25 |
Dividends Payable, Date Declared | Jun. 12, 2024 |
Dividends Payable, Date to be Paid | Jul. 24, 2024 |
Dividends Payable, Date of Record | Jun. 24, 2024 |
Note 14 - Restatement - Schedul
Note 14 - Restatement - Schedule of Restatements (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||
Jul. 29, 2023 | Jul. 30, 2022 | Jul. 31, 2021 | Oct. 28, 2023 | Oct. 29, 2022 | Oct. 30, 2021 | Jan. 27, 2024 | Jan. 28, 2023 | Jan. 29, 2022 | Apr. 27, 2024 | Apr. 29, 2023 | Apr. 30, 2022 | |
Operating lease right-of-use asset | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | |
Prepaid and other assets | 1,559 | 11,709 | 1,400 | (6,417) | 2,417 | (1,962) | (11,786) | 4,096 | (7,219) | $ (8,151) | 8,275 | (13,797) |
Accrued and other liabilities | 9,478 | (397) | 11,003 | 1,612 | (796) | (7,073) | 1,115 | 3,007 | (5,235) | 3,885 | 2,941 | (3,731) |
Operating lease liabilities | (3,329) | (3,158) | (3,116) | (8,291) | (6,535) | (6,687) | (11,276) | (9,906) | (10,077) | (14,792) | (13,214) | (13,224) |
Net cash provided by operating activities | 70,143 | 40,617 | 56,658 | 102,059 | 82,238 | 85,964 | 137,465 | 112,253 | 92,552 | 197,907 | 161,665 | 133,133 |
Right-of- use assets obtained in exchange for lease liabilities | 3,589 | 12,468 | 924 | 11,877 | 16,132 | 1,594 | 27,905 | 19,539 | 5,827 | $ 28,039 | 23,495 | 6,054 |
Previously Reported [Member] | ||||||||||||
Operating lease right-of-use asset | (3,589) | (12,468) | (924) | (11,877) | (16,132) | (1,594) | (27,905) | (19,539) | (5,827) | (23,495) | (6,054) | |
Prepaid and other assets | 1,475 | 11,656 | (106) | (600) | 3,187 | 510 | (3,186) | 1,832 | (4,730) | 15,472 | (5,084) | |
Accrued and other liabilities | 9,562 | (344) | 12,509 | (4,205) | (1,566) | (9,545) | (7,485) | 5,271 | (7,724) | (4,256) | (12,444) | |
Operating lease liabilities | 287 | 9,310 | (2,192) | 3,586 | 9,597 | (5,093) | 16,629 | 9,633 | (4,250) | 10,281 | (7,170) | |
Net cash provided by operating activities | 70,143 | 40,617 | 56,658 | 102,059 | 82,238 | 85,964 | 137,465 | 112,253 | 92,552 | 161,665 | 133,133 | |
Right-of- use assets obtained in exchange for lease liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
Revision of Prior Period, Adjustment [Member] | ||||||||||||
Operating lease right-of-use asset | 3,589 | 12,468 | 924 | 11,877 | 16,132 | 1,594 | 27,905 | 19,539 | 5,827 | 23,495 | 6,054 | |
Prepaid and other assets | 84 | 53 | 1,506 | (5,817) | (770) | (2,472) | (8,600) | 2,264 | (2,489) | (7,197) | (8,713) | |
Accrued and other liabilities | (84) | (53) | (1,506) | 5,817 | 770 | 2,472 | 8,600 | (2,264) | 2,489 | 7,197 | 8,713 | |
Operating lease liabilities | (3,589) | (12,468) | (924) | (11,877) | (16,132) | (1,594) | (27,905) | (19,539) | (5,827) | (23,495) | (6,054) | |
Net cash provided by operating activities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
Right-of- use assets obtained in exchange for lease liabilities | $ 3,589 | $ 12,468 | $ 924 | $ 11,877 | $ 16,132 | $ 1,594 | $ 27,905 | $ 19,539 | $ 5,827 | $ 23,495 | $ 6,054 |