SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 11-K
[x] ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the Fiscal Year ended December 31, 2017
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from __________ to __________
Commission file number 0-14616
A. Full title of the plan and the address of the plan, if different from that of the issuer named below:
J & J Snack Foods Corp. 401(k) Profit Sharing Plan
B. Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:
J & J Snack Foods Corp.
6000 Central Highway
Pennsauken, NJ 08109
Financial Statements and Report of Independent Registered Public Accounting Firm
J&J Snack Foods Corp. 401(k) Profit Sharing Plan
December 31, 2017 and 2016
C O N T E N T S
| Page | |
| REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM | 4 |
| FINANCIAL STATEMENTS | |
| STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS AS OF DECEMBER 31, 2017 AND 2016 | 5 |
| STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS FOR THE YEAR ENDED DECEMBER 31, 2017 | 6 |
| NOTES TO FINANCIAL STATEMENTS | 7 |
| SUPPLEMENTAL INFORMATION | |
| Schedule H, LINE 4i - SCHEDULE OF ASSETS (HELD AT END OF YEAR) AS OF DECEMBER 31, 2017 | 15 |
| EXHIBIT INDEX | 16 |
| SIGNATURE | 17 |
Report of Independent Registered Public Accounting Firm
Plan Administrator and Plan Participants
J & J Snack Foods Corp. 401(k) Profit Sharing Plan
Opinion on the financial statements
We have audited the accompanying statements of net assets available for benefits of the J & J Snack Foods Corp. 401(k) Profit Sharing Plan (the “Plan”) as of December 31, 2017 and 2016, the related statement of changes in net assets available for benefits for the year ended December 31, 2017, and the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2017 and 2016, and the changes in net assets available for benefits for the year ended December 31, 2017 in conformity with accounting principles generally accepted in the United States of America.
Basis for opinion
These financial statements are the responsibility of the Plan’s management. Our responsibility is to express an opinion on the Plan’s financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”) and are required to be independent with respect to the Plan in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.
We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Plan is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Plan’s internal control over financial reporting. Accordingly, we express no such opinion.
Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.
Supplemental information
The supplemental information in the accompanying schedule of assets (held at end of year) as of December 31, 2017 has been subjected to audit procedures performed in conjunction with the audit of the Plan’s financial statements. The supplemental information is presented for purposes of additional analysis and is not a required part of the basic financial statements but include supplemental information required by the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. The supplemental information is the responsibility of the Plan’s management. Our audit procedures included determining whether the supplemental information reconciles to the basic financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplemental information. In forming our opinion on the supplemental information in the accompanying schedule, we evaluated whether the supplemental information, including its form and content, is presented in conformity with the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. In our opinion, the supplemental information referred to above is fairly stated, in all material respects, in relation to the basic financial statements taken as a whole.
/s/ Grant Thornton LLP
We have served as the Plan’s auditor since 1992.
Philadelphia, Pennsylvania
June 29, 2018
J & J Snack Foods Corp. 401(k) Profit Sharing Plan
STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS
| December 31, | ||||||||
| 2017 | 2016 | |||||||
| ASSETS | ||||||||
| Investments at fair value | $ | 122,066,859 | $ | 106,419,394 | ||||
| Investments at contract value | 7,243,826 | 7,013,869 | ||||||
| Total investments | 129,310,685 | 133,433,263 | ||||||
| Receivables | ||||||||
| Notes receivable from participants | 4,652,343 | 4,638,604 | ||||||
| NET ASSETS AVAILABLE FOR BENEFITS | $ | 133,963,028 | $ | 118,071,867 | ||||
The accompanying notes are an integral part of these statements.
J & J Snack Foods Corp. 401(k) Profit Sharing Plan
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
Year ended December 31, 2017
| Additions | ||||
| Additions to net assets attributed to Investment income | ||||
| Net appreciation in fair value of investments | $ | 14,150,145 | ||
| Interest and dividend income | 3,229,334 | |||
| Total investment income | 17,379,479 | |||
| Interest income on notes receivable from participants | 209,235 | |||
| Contributions | ||||
| Employer | 2,156,776 | |||
| Participants | 5,150,949 | |||
| Participant rollover | 369,804 | |||
| Total contributions | 7,677,529 | |||
| Total additions | 25,266,243 | |||
| Deductions | ||||
| Deductions from net assets attributed to | ||||
| Benefits paid to participants | (8,882,251 | ) | ||
| Administrative expenses | (492,831 | ) | ||
| Total deductions | (9,375,082 | ) | ||
| NET INCREASE IN NET ASSETS AVAILABLE FOR BENEFITS | 15,891,161 | |||
| Net assets available for benefits | ||||
| Beginning of year | 118,071,867 | |||
| End of year | $ | 133,963,028 |
The accompanying notes are an integral part of this statement.
J & J Snack Foods Corp. 401(k) Profit Sharing Plan
NOTES TO FINANCIAL STATEMENTS
December 31, 2017 and 2016
NOTE A - DESCRIPTION OF THE PLAN
The following description of J & J Snack Foods Corp. 401(k) Profit Sharing Plan (the Plan) provides only general information. Participants should refer to the Plan agreement for a more complete description of the Plan’s provisions.
1. General
The Plan is a defined contribution plan covering all employees of J & J Snack Foods Corp. (the Company) who have one year of service and are age 21 or older. It is subject to the provisions of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”).
2. Contributions
Each year, participants may make a pretax contribution deferring no less than 2% or more than 25% of total compensation, as defined by the Plan, subject to Internal Revenue Code (“IRC”) limitation. For 2017, a participant’s tax-deferred contribution was limited to $18,000. Participants may also contribute amounts representing distributions from other qualified defined benefit or defined contribution plans. Participants who have attained the age of 50 before the end of the Plan year were eligible to make an additional $6,000 catch-up contribution. Participants direct the investment of their contributions into various investment options offered by the Plan. The Plan currently offers 28 investment options for participants, one of which is common stock of the Plan sponsor, J&J Snack Foods Corp.
The Company may contribute:
● | A discretionary matching contribution equal to a percentage of the amount of the salary reduction elected for deferral by each participant (in 2017, 60% of an employee’s salary reduction up to 5% of salary). This percentage will be determined each year by the Company. |
● | On behalf of each non-highly compensated participant, a special discretionary contribution equal to a percentage of the participant’s compensation. This percentage will be determined each year by the Company. There was no such contribution in 2017. |
● | A discretionary amount in addition to the special contribution, which will be determined each year by the Company. There was no such contribution in 2017. |
3. Participant Accounts
Each participant’s account is credited with the participant’s contribution and allocation of (a) the Company’s contribution and, (b) Plan earnings net of expenses, and (c) allocation of administrative expenses. Allocations are based on participant earnings or account balances, as defined. The benefit to which a participant is entitled is the benefit that can be provided from the participant’s vested account. Participants have the ability to make daily transfers of all or a portion of employee and employer contributions to their account from one fund to another in multiples of 5% of the fund balance.
J & J Snack Foods Corp. 401(k) Profit Sharing Plan
NOTES TO FINANCIAL STATEMENTS - CONTINUED
December 31, 2017 and 2016
NOTE A - DESCRIPTION OF THE PLAN – Continued
4. Vesting
Participants are 100% vested in their salary reduction contributions plus actual earnings thereon. Vesting in the Company’s matching contribution is based on years of service. Participants are vested at a rate of 20% for each year of service from years two to six (fully vested after six years).
5. Payment of Benefits
Upon termination of service, retirement, death or disability, the vested portion of a participant’s account may be distributed to the participant or beneficiary by transfer to another qualified plan or through a lump sum distribution, which will be subject to income taxes and may be subject to an additional tax due to early withdrawal.
In-service withdrawals of all or a portion of a participant’s vested account balance may be made by participants who have attained the age of 59 ½. As allowed under IRS rules, participants may withdraw funds from their vested accounts while employed to satisfy an immediate and heavy financial need, which is considered a hardship withdrawal. Any amount withdrawn will be subject to income taxes and may be subject to an additional tax due to early withdrawal. Participants may not contribute to the Plan for six months following a hardship withdrawal. The Plan has an annual required minimum distribution starting at age 70 ½ for non-employee participants and for active participants who own more than 5% of the Plan sponsor’s common stock.
6. Notes Receivable from Participants
The trustee may make loans from the Plan to participants in accordance with the Plan document. All loans bear interest rates that are commensurate with local prevailing rates at date of issuance as determined by the Plan administrator. The interest rates range from 4.25% to 9.50%. Participants may request loans for a minimum of $1,000 up to 50% of their vested balance with a maximum to $50,000. All loans are to be repaid within five years unless the loan is used to acquire a principal residence, in which case the term may be longer. Loans are secured by the portion of the vested balance in the participant’s account that is equal to the amount that is loaned to the participant. Principal and interest is paid ratably through monthly payroll deductions.
Notes receivable from participants are measured at their unpaid principal balance plus any accrued but unpaid interest. Delinquent notes receivable from participants are deemed to be a distribution based upon the terms of the Plan document. Participants may have up to a maximum of three loans outstanding at any one time.
7. Forfeited Accounts
Forfeitures as of December 31, 2017 and 2016 were $31,638 and $11,719, respectively. Forfeitures are periodically used to pay plan expenses or offset employer contributions.
J & J Snack Foods Corp. 401(k) Profit Sharing Plan
NOTES TO FINANCIAL STATEMENTS - CONTINUED
December 31, 2017 and 2016
NOTE A - DESCRIPTION OF THE PLAN – Continued
8. Plan Administration
The plan incurred administrative expenses of $492,831, for the year ended December 31, 2017. The Plan sponsor has the option but not the obligation to pay any of the Plan's administrative expenses. In addition, certain administrative functions are performed by officers and employees of the Plan sponsor for which they receive no compensation from the Plan nor is the Plan charged for these services. Additionally, the Plan sponsor incurs and pays additional expenses which are not charged to the plan.
NOTE B - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
A summary of the Plan’s significant accounting policies consistently applied in the preparation of the accompanying financial statements follows.
1. Basis of Accounting
The financial statements of the Plan are prepared under the accrual method of accounting in accordance with accounting principles generally accepted in the United States of America.
2. Use of Estimates
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of additions and deductions during the reporting period. Actual results could differ from those estimates.
3. Investment Valuation and Income Recognition
Investments are reported at fair value with the exception of the Plan’s interest in the Separate Account Guaranteed Interest Contract (“SAGIC”), a diversified bond fund, which is reported at contract value and does not differ materially from fair value. The change in fair value of investments during the year is measured by the difference between the fair value at year-end and the fair value at the beginning of the year or costs of purchases during the year and is reflected in the statement of changes in net assets available for plan benefits as net appreciation/depreciation in fair value of investments. See note B4 for discussion of fair value measurements. The purchases and sales of securities are recorded on a trade-date basis. Interest income is recorded on the accrual basis. Dividends are recorded on the ex-dividend date. Net appreciation/depreciation includes the plan’s gains and losses on investments bought and sold as well as held during the year.
J & J Snack Foods Corp. 401(k) Profit Sharing Plan
NOTES TO FINANCIAL STATEMENTS - CONTINUED
December 31, 2017 and 2016
NOTE B - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES – Continued
4. Fair Value Measurements
The Plan’s investments (excluding the SAGIC investment referenced to above) are stated at fair value, which is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Plan adopted accounting guidance which requires enhanced disclosures about investments that are measured and reported at fair value. That guidance provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are described as follows:
Level 1 | Inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets that the Plan has the ability to access. | ||||||
Level 2 | Inputs to the valuation methodology include: | ||||||
| ● | quoted prices for similar assets or liabilities in active markets; | ||||||
| ● | quoted prices for identical or similar assets or liabilities in inactive markets; | ||||||
| ● | inputs other than quoted prices that are observable for the asset or liability; | ||||||
| ● | inputs that are derived principally from or corroborated by observable market data by correlation or other means. | ||||||
| If the asset or liability has a specified (contractual) term, the Level 2 input must be observable for substantially the full term of the asset or liability. | |||||||
Level 3 | Inputs to the valuation methodology are unobservable and significant to the fair value measurement. | ||||||
| The asset’s or liability’s fair value measurement level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Valuation techniques used need to maximize the use of observable inputs and minimize the use of unobservable input. | |||||||
| Following is a description of the valuation methodologies used for assets measured at fair value. There have been no changes in the methodologies used at December 31, 2017 and 2016. | |||||||
J & J Snack Foods Corp. 401(k) Profit Sharing Plan
NOTES TO FINANCIAL STATEMENTS - CONTINUED
December 31, 2017 and 2016
NOTE B - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES – Continued
Registered Investment Company Mutual Funds: These investments are public investment securities valued at net asset value (“NAV”). The NAV is a quoted price in an active market on which the securities are traded. Shares of registered investment companies are classified as Level 1 investments.
J&J Snack Foods Corp Common Stock Fund: This fund represents employer securities valued at the closing price reported on the active market on which the individual securities are traded. A small portion of the fund is invested in short-term money market instruments. The money market portion of the fund provides liquidity, which enables the Plan participants to transfer money daily among all investment
choices. The common stock is classified as a Level 1 investment.
The preceding methods described may produce a fair value calculation that may not be indicative of net realizable value or reflective of future values. Furthermore, although the plan believes its valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date. The following tables present information about the Plan’s investments measured at fair value on a recurring basis, and indicates the fair value hierarchy of the valuation techniques utilized by the Plan to determine such value.
Fair Value Measurements Using Input Type | ||||||||||||||||
Total Fair Value as of December 31, 2017 | Level 1 | Level 2 | Level 3 | |||||||||||||
Common Stock Fund | $ | 25,870,409 | $ | 25,870,409 | $ | - | $ | - | ||||||||
| Total Mutual Funds | 96,196,450 | 96,196,450 | ||||||||||||||
Total investments measured at fair value | $ | 122,066,859 | $ | 122,066,859 | $ | - | $ | - | ||||||||
Fair Value Measurements Using Input Type | ||||||||||||||||
Total Fair Value as of December 31, 2016 | Level 1 | Level 2 | Level 3 | |||||||||||||
Common Stock Fund | $ | 24,684,635 | $ | 24,684,635 | $ | - | $ | - | ||||||||
| Total Mutual Funds | 81,734,759 | 81,734,759 | ||||||||||||||
Total investments measured at fair value | $ | 106,419,394 | $ | 106,419,394 | $ | - | $ | - | ||||||||
The availability of observable market data is monitored to assess the appropriate classification of financial instruments within the fair value hierarchy. Changes in economic conditions or model-based valuation techniques may require the transfer of financial instruments from one fair value level to another. In such instances, the transfer is reported at the beginning of the reporting period. For the years ended December 31, 2017 and 2016, there were no transfers in or out of levels 1, 2 or 3.
J & J Snack Foods Corp. 401(k) Profit Sharing Plan
NOTES TO FINANCIAL STATEMENTS - CONTINUED
December 31, 2017 and 2016
NOTE B - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES – Continued
5. Payment of Benefits
Benefits are recorded when paid.
6. Risks and Uncertainties
The Plan invests in various investment securities. Investment securities are exposed to various risks such as interest rate, market and credit risks. Due to the level of risk associated with certain investment securities, it is at least reasonably possible that changes in the values of investment securities will occur in the near term and that such changes could materially affect participant account balances and the amounts reported in the statements of net assets available for benefits.
7. Administrative Expenses
Administrative expenses of the Plan are paid by the Plan and by the participants through an asset based charge. There are other costs associated with the Plan that are paid by the Company.
NOTE C – SEPARATE ACCOUNT GUARANTEED INVESTMENT CONTRACT
The Plan has entered into a benefit-responsive investment contract with Mass Mutual Retirement Services Diversified Bond Separate Investment Account (the “SAGIC”). The SAGIC maintains the contributions in a general account. The account is credited with earnings on the underlying investments and charged for participant withdrawals and administrative expenses. The contract is included in the financial statements at contract value as reported to the Plan by the SAGIC. Contract value represents contributions made under the contract, plus earnings, less participant withdrawals and administrative expenses. Participants may ordinarily direct the withdrawal or transfer of all or a portion of their investment at contract value. The guaranteed investment contract issuer is contractually obligated to repay the principal and a specified interest rate that is guaranteed to the Plan.
Because the separate account guaranteed investment contract is fully benefit-responsive, contract value is the relevant measurement attribute for that portion of the net assets available for benefits attributable to the guaranteed investment contract. There are no reserves against contract value for credit risk of the contract issuer or otherwise. The contract value of the investment contract as of December 31, 2017 and 2016 was $7,243,826 and $7,013,869, respectively. The average crediting interest rate is calculated by dividing the annual interest credited to the participants during the plan year by the average annual fair value of the investment. The separate account guaranteed investment contract does not allow the crediting interest rate to fall below zero percent. Certain events limit the ability of the Plan to transact at contract value with the issuer. Such events include the following: (1) amendments to the Plan documents (including complete or partial Plan termination or merger with another plan), (2) changes to the Plan’s prohibition on competing investment options or deletion of equity wash provisions, (3) bankruptcy of the Plan sponsor or other Plan sponsor events (for example, divestitures or spin-offs of a subsidiary) that cause a significant withdrawal from the Plan, or (4) the failure of the trust to qualify for exemption from federal income taxes or any required prohibited transaction exemption under ERISA. The Plan administrator does not believe that any events which would limit the Plan’s ability to transact at contract value with participants are probable of occurring. The separate account guaranteed investment contract does not permit the insurance company to terminate the agreement unless the Plan is not in compliance with the investment agreement. The crediting interest rate was 3.43% and 3.10% at December 31, 2017 and 2016, respectively.
J & J Snack Foods Corp. 401(k) Profit Sharing Plan
NOTES TO FINANCIAL STATEMENTS - CONTINUED
December 31, 2017 and 2016
NOTE D - RELATED PARTY TRANSACTIONS
At December 31, 2017 and 2016, investments include 168,079 and 183,006 shares of the Corporation's unitized stock fund valued at $25,870,409 and $24,684,635, respectively. The SAGIC is an investment account of the Plan’s record-keeper. The Plan also permits notes receivable from participants. Accordingly, these transactions qualify as party-in-interest transactions and are exempt from the prohibited transaction rules.
NOTE E – TAX STATUS
The Plan is a Non-standardized 401(k) Profit Sharing Prototype Plan (“Prototype Plan”) sponsored by MassMutual Financial Group and adopted by the Company. The Prototype Plan obtained its latest opinion letter on February 20, 2015, in which the IRS stated that the Prototype Plan, as then designed, was in compliance with the applicable requirements of the Internal Revenue Code (“IRC”). The Plan has not requested its own determination letter from the IRS. The Plan administrator believes that the Plan is currently designed and being operated in all material respects in compliance with the applicable requirements of the IRC. Therefore, the Plan administrator believes that the Plan was qualified and that the related trust was tax exempt as of the financial statement dates.
Accounting principles generally accepted in the United States of America require Plan management to evaluate tax positions taken by the Plan and recognize a tax liability (or asset) if the Plan has taken an uncertain position that more likely than not would not be sustained upon examination by the Internal Revenue Service. The Plan administrator has analyzed the tax positions taken by the Plan, and has concluded that as of December 31, 2017 and 2016, there are no uncertain positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the financial statements. The Plan is subject to routine examination by the Department of Labor and the Internal Revenue Service, of which there are none presently.
NOTE F - TRUST AGREEMENT
Effective August 31, 2004, the Company entered into a trust agreement with MFS Heritage Trust Company which was subsequently assigned to and accepted by Reliance Trust Company (“Reliance”) on April 1, 2008. Reliance acts as a directed or nondiscretionary trustee to plans in accordance with the terms of the individual trust agreement. As a “directed trustee” Reliance is subject to the “direction” of the plan fiduciary with respect to the management of the trust’s assets. Reliance relies on the recordkeeping services MassMutual provides to the plan for purposes of maintaining participant and plan level records of the trust’s assets and delegate’s custody services to State Street (custodian of the Plan’s assets.)
NOTE G - PLAN TERMINATION
Although it has not expressed any intent to do so, the Company has the right under the Plan to discontinue its contributions at any time and to terminate the Plan subject to the provisions of ERISA. In the event of Plan termination, participants will become 100% vested in their accounts.
NOTE H – SUBSEQUENT EVENT
On January 1, 2018, the Hill & Valley, Inc. Profit Sharing Plan, with assets of $2,034,400, was merged into the Plan. The stock of Hill & Valley, Inc. was acquired by a subsidiary of the Company in December 2016. The Company has evaluated subsequent events through June 29, 2018, noting no other events that would require adjustment to, or disclosure in, the Plan’s financial statements.
SUPPLEMENTAL INFORMATION
Schedule H, Line 4i - Schedule of Assets Held at End of Year
December 31, 2017
Name of Plan | J & J Snack Foods Corp. 401(k) Profit Sharing Plan | ||
Three Digit Plan Number: | 001 | ||
| Employer Identification # | 22-1935537 | ||
| Plan Sponsor's Name | J & J Snack Foods Corp. | ||
(a) | (b) Identity of issue, borrower, lessor, or similar party |
| ( c ) Description of investment including maturity date, rate of interest, Collateral, par, or maturity value |
|
|
| (d) Cost | (e) Current Value |
|
|
|
|
|
|
|
|
|
* | MassMutual |
| Guaranteed Interest Account |
|
|
| ** | 7,243,826 |
* | MassMutual Premier |
| Holding Account - MF-G |
|
|
| ** | 2,075 |
| PIMCO Diversified Inc Fund |
| Registered Investment Company Mutual Fund |
|
|
| ** | 1,364,775 |
| Vanguard Life Strategy Con Gr Fd |
| Registered Investment Company Mutual Fund | �� |
|
| ** | 13,293,560 |
| Vanguard Life Strategy Mod Gr Fd |
| Registered Investment Company Mutual Fund |
|
|
| ** | 9,318,137 |
| Vanguard Life Strategy Growth Fund |
| Registered Investment Company Mutual Fund |
|
|
| ** | 24,375,366 |
| Vanguard Life Strategy Income Fund |
| Registered Investment Company Mutual Fund |
|
|
| ** | 5,745,402 |
| Vanguard Target Retirement 2055 Fd |
| Registered Investment Company Mutual Fund |
|
|
| ** | 54,349 |
| Vanguard Target Retirement 2060 Fd |
| Registered Investment Company Mutual Fund |
|
|
| ** | 6,446 |
| Amer Funds Invst Co of America Fd |
| Registered Investment Company Mutual Fund |
|
|
| ** | 6,432,043 |
| Vanguard Value Index Fund |
| Registered Investment Company Mutual Fund |
|
|
| ** | 3,829,666 |
| Vanguard Small Cap Index Fund |
| Registered Investment Company Mutual Fund |
|
|
| ** | 2,924,878 |
| Vanguard Mid Cap Index Fund |
| Registered Investment Company Mutual Fund |
|
|
| ** | 308,427 |
| Vanguard Growth Index Fund |
| Registered Investment Company Mutual Fund |
|
|
| ** | 10,538,357 |
| Vanguard Interm‐ Term Bond Index Fnd |
| Registered Investment Company Mutual Fund |
|
|
| ** | 5,085,019 |
| American Funds Cap Incm Builder Fnd |
| Registered Investment Company Mutual Fund |
|
|
| ** | 1,379,615 |
| Victory Sycamore Established Val Fd |
| Registered Investment Company Mutual Fund |
|
|
| ** | 848,957 |
| Vanguard 500 Index Fund |
| Registered Investment Company Mutual Fund |
|
|
| ** | 1,777,479 |
| Vanguard Target Retirement Incm Fd |
| Registered Investment Company Mutual Fund |
|
|
| ** | 22,822 |
| Vanguard Target Retirement 2015 Fd |
| Registered Investment Company Mutual Fund |
|
|
| ** | 4,766 |
| Vanguard Target Retirement 2020 Fd |
| Registered Investment Company Mutual Fund |
|
|
| ** | 1,049,122 |
| Vanguard Target Retirement 2025 Fd |
| Registered Investment Company Mutual Fund |
|
|
| ** | 303,663 |
| Vanguard Target Retirement 2030 Fd |
| Registered Investment Company Mutual Fund |
|
|
| ** | 458,113 |
| Vanguard Target Retirement 2035 Fd |
| Registered Investment Company Mutual Fund |
|
|
| ** | 360,779 |
| Vanguard Target Retirement 2040 Fd |
| Registered Investment Company Mutual Fund |
|
|
| ** | 265,761 |
| Vanguard Target Retirement 2045 Fd |
| Registered Investment Company Mutual Fund |
|
|
| ** | 138,338 |
| Vanguard Target Retirement 2050 Fd |
| Registered Investment Company Mutual Fund |
|
|
| ** | 101,636 |
| American Fnds Cap Wld Grand Inc |
| Registered Investment Company Mutual Fund |
|
|
| ** | 6,206,899 |
* | J&J Snack Foods Corp Company Stock |
| Employer Securities |
|
|
| ** | 25,870,409 |
| Total Funds | 129,310,685 | ||||||
* | NOTES RECEIVABLE FROM PARTICIPANTS | Low-High Interest Rate 4.25% - 9.50% | 4,652,343 | |||||
133,963,028 | ||||||||
* Party-in-Interest | ||||||||
** Cost Omitted all investments are participant directed |
EXHIBIT INDEX
Exhibit Number | Description | |
| 23.1* | Consent of Independent Registered Public Accounting Firm | |
| * | Filed herewith. | |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (or other persons who administer the employee benefit plan) have duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized.
| J & J Snack Foods Corp. | ||
| 401(k) Profit Sharing Plan | ||
|
|
|
Date: June 29, 2018 | /s/ Dennis G. Moore |
|
|
|
|
|
|
|
| Dennis G. Moore | ||
| Plan Administrator |
17