$BGS
B&G Foods, Inc.

2023 Q3 Form 10-Q Financial Statement

#000155837023013232 Filed on August 03, 2023

View on sec.gov

Income Statement

Concept 2023 Q3
Revenue $469.6M
YoY Change -1.95%
Cost Of Revenue $367.4M
YoY Change -8.72%
Gross Profit $102.3M
YoY Change 33.7%
Gross Profit Margin 21.78%
Selling, General & Admin $47.87M
YoY Change 8.32%
% of Gross Profit 46.81%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $17.29M
YoY Change -15.57%
% of Gross Profit 16.9%
Operating Expenses $47.87M
YoY Change 8.32%
Operating Profit $49.19M
YoY Change 82.6%
Interest Expense -$35.81M
YoY Change 19.62%
% of Operating Profit -72.8%
Other Income/Expense, Net $936.0K
YoY Change -49.35%
Pretax Income $14.32M
YoY Change -1342.62%
Income Tax $3.762M
% Of Pretax Income 26.28%
Net Earnings $10.55M
YoY Change 4022.27%
Net Earnings / Revenue 2.25%
Basic Earnings Per Share $0.15
Diluted Earnings Per Share $0.15
COMMON SHARES
Basic Shares Outstanding 72.24M
Diluted Shares Outstanding 72.38M

Balance Sheet

Concept 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $42.77M
YoY Change -0.59%
Cash & Equivalents $42.77M
Short-Term Investments
Other Short-Term Assets $41.45M
YoY Change -1.92%
Inventory $674.7M
Prepaid Expenses
Receivables $142.8M
Other Receivables $12.81M
Total Short-Term Assets $914.6M
YoY Change -0.24%
LONG-TERM ASSETS
Property, Plant & Equipment $308.4M
YoY Change -8.33%
Goodwill $619.4M
YoY Change -4.58%
Intangibles $1.778B
YoY Change -7.42%
Long-Term Investments
YoY Change
Other Assets $20.82M
YoY Change 190.28%
Total Long-Term Assets $2.804B
YoY Change -6.53%
TOTAL ASSETS
Total Short-Term Assets $914.6M
Total Long-Term Assets $2.804B
Total Assets $3.719B
YoY Change -5.06%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $136.3M
YoY Change -16.95%
Accrued Expenses $61.46M
YoY Change -6.35%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due $1.057M
YoY Change 2.22%
Total Short-Term Liabilities $231.2M
YoY Change -17.45%
LONG-TERM LIABILITIES
Long-Term Debt $2.246B
YoY Change -2.03%
Other Long-Term Liabilities $21.64M
YoY Change -30.14%
Total Long-Term Liabilities $2.267B
YoY Change -2.4%
TOTAL LIABILITIES
Total Short-Term Liabilities $231.2M
Total Long-Term Liabilities $2.267B
Total Liabilities $2.852B
YoY Change -4.18%
SHAREHOLDERS EQUITY
Retained Earnings $865.3M
YoY Change -6.86%
Common Stock $723.0K
YoY Change -97.62%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $866.4M
YoY Change
Total Liabilities & Shareholders Equity $3.719B
YoY Change -5.06%

Cashflow Statement

Concept 2023 Q3
OPERATING ACTIVITIES
Net Income $10.55M
YoY Change 4022.27%
Depreciation, Depletion And Amortization $17.29M
YoY Change -15.57%
Cash From Operating Activities $62.85M
YoY Change -1631.43%
INVESTING ACTIVITIES
Capital Expenditures $6.696M
YoY Change -210.29%
Acquisitions
YoY Change
Other Investing Activities $83.00K
YoY Change -100.31%
Cash From Investing Activities -$6.613M
YoY Change -80.11%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -49.58M
YoY Change -226.43%
NET CHANGE
Cash From Operating Activities 62.85M
Cash From Investing Activities -6.613M
Cash From Financing Activities -49.58M
Net Change In Cash 6.654M
YoY Change 255.26%
FREE CASH FLOW
Cash From Operating Activities $62.85M
Capital Expenditures $6.696M
Free Cash Flow $56.15M
YoY Change 2754.8%

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OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
2679000
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OtherComprehensiveIncomeDefinedBenefitPlansTaxPortionAttributableToParent
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CY2022Q2 us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent
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StockholdersEquity
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OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
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OtherComprehensiveIncomeDefinedBenefitPlansTaxPortionAttributableToParent
-6000
CY2022Q3 us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent
-20000
CY2022Q3 us-gaap Net Income Loss
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256000
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AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1924000
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RestrictedStockValueSharesIssuedNetOfTaxWithholdings
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CY2022Q3 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
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CommonStockDividendsPerShareDeclared
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StockholdersEquity
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23912000
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DepreciationDepletionAndAmortization
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us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
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AmortizationOfFinancingCostsAndDiscounts
4684000
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
2346000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
15097000
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DeferredIncomeTaxExpenseBenefit
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us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
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us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
786000
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ShareBasedCompensation
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us-gaap Share Based Compensation
ShareBasedCompensation
2248000
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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us-gaap Increase Decrease In Income Taxes Payable Net Of Income Taxes Receivable
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us-gaap Increase Decrease In Other Noncurrent Assets
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us-gaap Increase Decrease In Accounts Payable Trade
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us-gaap Increase Decrease In Accounts Payable Trade
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35481000
us-gaap Increase Decrease In Accrued Liabilities
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us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
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us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
1005000
us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
1041000
us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Net Cash Provided By Used In Operating Activities
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21127000
us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
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us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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27290000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
40892000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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us-gaap Repayments Of Senior Debt
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us-gaap Repayments Of Long Term Lines Of Credit
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us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
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ProceedsFromLinesOfCredit
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us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
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us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
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us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
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PaymentsRelatedToTaxWithholdingForShareBasedCompensation
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us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
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us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
9336000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
45442000
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
33690000
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
42772000
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
43026000
us-gaap Interest Paid Net
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us-gaap Interest Paid Net
InterestPaidNet
53954000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
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us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
18989000
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DividendsPayableCurrentAndNoncurrent
13735000
CY2022Q3 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
34043000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
1525000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
876000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
6750000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
2588000
us-gaap Nature Of Operations
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<table style="border-collapse:collapse;border:0;"><tr><td style="vertical-align:text-top;white-space:nowrap;width:36pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:6pt;margin-top:0pt;"><b style="font-weight:bold;">(1)</b></p></td><td style="padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:6pt;margin-top:0pt;"><b style="font-weight:bold;">Nature of Operations</b></p></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 6pt 0pt;">B&amp;G Foods, Inc. is a holding company whose principal assets are the shares of capital stock of its subsidiaries. Unless the context requires otherwise, references in this report to “B&amp;G Foods,” “our company,” “we,” “us” and “our” refer to B&amp;G Foods, Inc. and its subsidiaries. Our financial statements are presented on a consolidated basis.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 6pt 0pt;">We operate in a single industry segment and manufacture, sell and distribute a diverse portfolio of high-quality shelf-stable and frozen foods across the United States, Canada and Puerto Rico. Our products include frozen and canned vegetables, vegetable, canola and other cooking oils, vegetable shortening, cooking sprays, oatmeal and other hot cereals, fruit spreads, canned meats and beans, bagel chips, spices, seasonings, hot sauces, wine vinegar, maple syrup, molasses, salad dressings, pizza crusts, Mexican-style sauces, dry soups, taco shells and kits, salsas, pickles, peppers, tomato-based products, crackers, baking powder, baking soda, corn starch, nut clusters and other specialty products. Our products are marketed under many recognized brands, including <i style="font-style:italic;">Ac’cent</i>, <i style="font-style:italic;">B&amp;G</i>, <i style="font-style:italic;">B&amp;M</i>, <i style="font-style:italic;">Baker’s Joy</i>, <i style="font-style:italic;">Bear Creek Country Kitchens</i>, <i style="font-style:italic;">Brer Rabbit</i>, <i style="font-style:italic;">Canoleo</i>, <i style="font-style:italic;">Cary’s</i>, <i style="font-style:italic;">Clabber Girl</i>, <i style="font-style:italic;">Cream of Rice</i>, <i style="font-style:italic;">Cream of Wheat</i>, <i style="font-style:italic;">Crisco</i>, <i style="font-style:italic;">Dash, Davis</i>, <i style="font-style:italic;">Devonsheer</i>, <i style="font-style:italic;">Don Pepino</i>, <i style="font-style:italic;">Durkee</i>, <i style="font-style:italic;">Emeril’s</i>, <i style="font-style:italic;">Grandma’s Molasses</i>, <i style="font-style:italic;">Green Giant</i>, <i style="font-style:italic;">Joan of Arc</i>, <i style="font-style:italic;">Las Palmas</i>, <i style="font-style:italic;">Le Sueur</i>, <i style="font-style:italic;">MacDonald’s</i>, <i style="font-style:italic;">Mama Mary’s</i>, <i style="font-style:italic;">Maple Grove Farms of Vermont</i>, <i style="font-style:italic;">McCann’s</i>, <i style="font-style:italic;">Molly McButter</i>, <i style="font-style:italic;">New York Flatbreads</i>, <i style="font-style:italic;">New York Style</i>, <i style="font-style:italic;">Old London</i>, <i style="font-style:italic;">Ortega</i>, <i style="font-style:italic;">Polaner</i>, <i style="font-style:italic;">Red Devil</i>, <i style="font-style:italic;">Regina</i>, <i style="font-style:italic;">Rumford</i>, <i style="font-style:italic;">Sa-són</i>, <i style="font-style:italic;">Sclafani</i>, <i style="font-style:italic;">Spice Islands</i>, <i style="font-style:italic;">Spring Tree</i>, <i style="font-style:italic;">Sugar Twin</i>, <i style="font-style:italic;">Tone’s</i>, <i style="font-style:italic;">Trappey’s</i>, <i style="font-style:italic;">TrueNorth</i>, <i style="font-style:italic;">Underwood</i>, <i style="font-style:italic;">Vermont Maid</i>, <i style="font-style:italic;">Victoria</i>, <i style="font-style:italic;">Weber</i> and <i style="font-style:italic;">Wright’s</i>. We also sell and distribute <i style="font-style:italic;">Static Guard</i>, a household product brand. We compete in the retail grocery, foodservice, specialty, private label, club and mass merchandiser channels of distribution. We sell and distribute our products directly and via a network of independent brokers and distributors to supermarket chains, foodservice outlets, mass merchants, warehouse clubs, non-food outlets and specialty distributors.</p>
us-gaap Fiscal Period
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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:10.5pt;text-indent:36pt;margin:0pt 0pt 6pt 0pt;"><span style="font-style:italic;font-weight:bold;">Fiscal Year</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10.5pt;line-height:10.5pt;text-indent:36pt;margin:0pt 0pt 6pt 0pt;"><span style="font-size:10pt;">Typically, our fiscal quarters and fiscal year consist of </span><span style="font-size:10pt;">13</span><span style="font-size:10pt;"> and </span><span style="font-size:10pt;">52</span><span style="font-size:10pt;"> weeks, respectively, ending on the Saturday closest to December 31 in the case of our fiscal year and fourth fiscal quarter, and on the Saturday closest to the end of the corresponding calendar quarter in the case of our fiscal quarters. As a result, a 53</span><sup style="font-size:7.5pt;line-height:100%;top:0pt;vertical-align:top;">rd </sup><span style="font-size:10pt;">week is added to our fiscal year every </span><span style="-sec-ix-hidden:Hidden_7XikiH1Q0kKxLasQ6UDImA;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">five</span></span><span style="font-size:10pt;"> or </span><span style="font-size:10pt;">six years</span><span style="font-size:10pt;">. Generally, in a </span><span style="font-size:10pt;">53</span><span style="font-size:10pt;">-week fiscal year our fourth fiscal quarter contains </span><span style="font-size:10pt;">14</span><span style="font-size:10pt;"> weeks. Our fiscal year ending December 30, 2023 (fiscal 2023) and our fiscal year ended December 31, 2022 (fiscal 2022) each contains </span><span style="font-size:10pt;">52</span><span style="font-size:10pt;"> weeks. Each quarter of fiscal 2023 and 2022 contains </span><span style="font-size:10pt;">13</span><span style="font-size:10pt;"> weeks. </span></p>
bgs Number Of Weeks In Fiscal Quarter
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us-gaap Fiscal Period Duration
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CY2022 bgs Number Of Weeks In Fourth Fiscal Quarter
NumberOfWeeksInFourthFiscalQuarter
P371D
CY2022 bgs Number Of Weeks In Fiscal Quarter
NumberOfWeeksInFiscalQuarter
P98D
us-gaap Fiscal Period Duration
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bgs Number Of Weeks In Fiscal Quarter
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us-gaap Use Of Estimates
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<p style="font-family:'Times New Roman','Times','serif';font-size:10.5pt;line-height:10.5pt;text-indent:36pt;margin:0pt 0pt 6pt 0pt;"><span style="font-style:italic;font-weight:bold;">Use of Estimates</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:10.5pt;text-indent:36pt;margin:0pt 0pt 6pt 0pt;">The preparation of financial statements in accordance with GAAP requires our management to make a number of estimates and assumptions relating to the reporting of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Some of the more significant estimates and assumptions made by management involve revenue recognition as it relates to trade and consumer promotion expenses; pension benefits; acquisition accounting fair value allocations; the recoverability of goodwill, other intangible assets, property, plant and equipment and deferred tax assets; and the determination of the useful life of customer relationship and finite-lived trademark intangible assets. Actual results could differ significantly from these estimates and assumptions.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:10.5pt;text-indent:36pt;margin:0pt 0pt 6pt 0pt;">Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors that management believes to be reasonable under the circumstances, including the current economic environment. We adjust such estimates and assumptions when facts and circumstances dictate. Volatility in the credit and equity markets can increase the uncertainty inherent in such estimates and assumptions. </p>
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FiniteLivedIntangibleAssetsAccumulatedAmortization
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CY2023Q3 us-gaap Goodwill
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CY2023Q3 bgs Indefinite Lived Intangible Assets Net Including Goodwill
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CY2022Q4 bgs Indefinite Lived Intangible Assets Net Including Goodwill
IndefiniteLivedIntangibleAssetsNetIncludingGoodwill
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CY2023Q3 us-gaap Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
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CY2022Q4 us-gaap Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
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us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
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CY2022Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
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us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
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CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
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CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
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CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
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CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
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CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
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us-gaap Impairment Of Intangible Assets Excluding Goodwill
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0
us-gaap Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
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CY2023Q3 us-gaap Deferred Finance Costs Net
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CY2022Q4 us-gaap Debt Instrument Unamortized Discount Premium Net
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1880000
CY2023Q3 us-gaap Long Term Debt
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CY2022Q4 us-gaap Long Term Debt
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CY2022Q4 us-gaap Long Term Debt Current
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CY2023Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
2245630000
CY2022Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
2339049000
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
1155610000
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
550625000
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
550000000
CY2023Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
2256235000
CY2023Q3 us-gaap Interest Payable Current
InterestPayableCurrent
21200000
CY2022Q4 us-gaap Interest Payable Current
InterestPayableCurrent
21700000
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Net
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersNet
0
CY2022Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Net
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersNet
0
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Net
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersNet
0
CY2023Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Net
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersNet
0
CY2023Q3 bgs Number Of Company Sponsored Defined Benefit Pension Plans
NumberOfCompanySponsoredDefinedBenefitPensionPlans
4
bgs Percentage Of Employees Covered By Defined Benefit Pension Plans
PercentageOfEmployeesCoveredByDefinedBenefitPensionPlans
0.22
bgs Number Of Defined Benefit Pension Plans Sponsored By Company For Union Employees
NumberOfDefinedBenefitPensionPlansSponsoredByCompanyForUnionEmployees
3
bgs Number Of Defined Benefit Pension Plans Sponsored By Company For Salaried And Certain Hourly Employees
NumberOfDefinedBenefitPensionPlansSponsoredByCompanyForSalariedAndCertainHourlyEmployees
1
CY2023Q3 bgs Number Of Company Sponsored Defined Benefit Pension Plans
NumberOfCompanySponsoredDefinedBenefitPensionPlans
4
CY2023Q3 bgs Number Of Company Sponsored Defined Benefit Pension Plans
NumberOfCompanySponsoredDefinedBenefitPensionPlans
4
CY2023Q3 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
1305000
CY2022Q3 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
2192000
us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
2593000
us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
4488000
CY2023Q3 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
1858000
CY2022Q3 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
1365000
us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
3718000
us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
2736000
CY2023Q3 us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
2782000
CY2022Q3 us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
3236000
us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
5563000
us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
6473000
CY2023Q3 us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
11000
CY2022Q3 us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
-26000
us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
11000
us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
-54000
CY2023Q3 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
370000
CY2022Q3 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
347000
us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
737000
us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
805000
us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
0
us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
0
CY2023Q3 us-gaap Defined Benefit Plan Expected Future Employer Contributions Remainder Of Fiscal Year
DefinedBenefitPlanExpectedFutureEmployerContributionsRemainderOfFiscalYear
2500000
bgs Defined Benefit Plan Expected Withdrawal Liability Payout Period
DefinedBenefitPlanExpectedWithdrawalLiabilityPayoutPeriod
P20Y
bgs Defined Benefit Plan Withdrawal Liability Annual Installments
DefinedBenefitPlanWithdrawalLiabilityAnnualInstallments
900000
CY2023Q3 bgs Defined Benefit Plan Expected Withdrawal Liability Amount
DefinedBenefitPlanExpectedWithdrawalLiabilityAmount
13200000
us-gaap Lessee Operating Lease Existence Of Option To Extend
LesseeOperatingLeaseExistenceOfOptionToExtend
true
us-gaap Lessee Operating Lease Existence Of Option To Terminate
LesseeOperatingLeaseExistenceOfOptionToTerminate
true
bgs Lessee Operating Lease Terminate Term
LesseeOperatingLeaseTerminateTerm
P1Y
CY2022Q3 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
8000
CY2023Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
64600000
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
65809000
CY2023Q3 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
2362000
CY2022Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
2891000
CY2023Q3 bgs Right Of Use Asset
RightOfUseAsset
66962000
CY2022Q4 bgs Right Of Use Asset
RightOfUseAsset
68700000
CY2023Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
15274000
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
14616000
CY2023Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
49683000
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
51727000
CY2023Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
64957000
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
66343000
CY2023Q3 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
1057000
CY2022Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
1046000
CY2023Q3 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
1263000
CY2022Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
1795000
CY2023Q3 us-gaap Finance Lease Liability
FinanceLeaseLiability
2320000
CY2022Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
2841000
CY2023Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
4488000
CY2022Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
4273000
us-gaap Operating Lease Payments
OperatingLeasePayments
9082000
us-gaap Operating Lease Payments
OperatingLeasePayments
8194000
CY2023Q3 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
274000
us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
549000
CY2023Q3 bgs Operating Lease Cost Cost Of Goods Sold
OperatingLeaseCostCostOfGoodsSold
2728000
CY2022Q3 bgs Operating Lease Cost Cost Of Goods Sold
OperatingLeaseCostCostOfGoodsSold
2595000
bgs Operating Lease Cost Cost Of Goods Sold
OperatingLeaseCostCostOfGoodsSold
5464000
bgs Operating Lease Cost Cost Of Goods Sold
OperatingLeaseCostCostOfGoodsSold
4849000
CY2023Q3 bgs Operating Lease Cost Selling General And Administrative Expenses
OperatingLeaseCostSellingGeneralAndAdministrativeExpenses
1727000
CY2022Q3 bgs Operating Lease Cost Selling General And Administrative Expenses
OperatingLeaseCostSellingGeneralAndAdministrativeExpenses
1718000
bgs Operating Lease Cost Selling General And Administrative Expenses
OperatingLeaseCostSellingGeneralAndAdministrativeExpenses
3441000
bgs Operating Lease Cost Selling General And Administrative Expenses
OperatingLeaseCostSellingGeneralAndAdministrativeExpenses
3324000
CY2023Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
4455000
CY2022Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
4313000
us-gaap Operating Lease Cost
OperatingLeaseCost
8905000
us-gaap Operating Lease Cost
OperatingLeaseCost
8173000
CY2023Q3 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
266000
CY2022Q3 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
109000
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
530000
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
109000
CY2023Q3 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
14000
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
30000
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
8000
CY2023Q3 bgs Finance Lease Cost
FinanceLeaseCost
280000
CY2022Q3 bgs Finance Lease Cost
FinanceLeaseCost
117000
bgs Finance Lease Cost
FinanceLeaseCost
560000
bgs Finance Lease Cost
FinanceLeaseCost
117000
CY2023Q3 us-gaap Lease Cost
LeaseCost
4735000
CY2022Q3 us-gaap Lease Cost
LeaseCost
4430000
us-gaap Lease Cost
LeaseCost
9465000
us-gaap Lease Cost
LeaseCost
8290000
CY2023Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
5100000
CY2023Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
4500000
us-gaap Operating Lease Expense
OperatingLeaseExpense
10100000
us-gaap Operating Lease Cost
OperatingLeaseCost
8900000
CY2022Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
4600000
CY2022Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
4300000
us-gaap Operating Lease Expense
OperatingLeaseExpense
9100000
us-gaap Operating Lease Cost
OperatingLeaseCost
8200000
CY2023Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y2M12D
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y3M18D
CY2023Q3 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P2Y2M12D
CY2022Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P2Y8M12D
CY2023Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0291
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0272
CY2023Q3 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.0230
CY2022Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.0230
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
8597000
CY2023Q3 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
549000
CY2023Q3 bgs Operating And Finance Lease Liability To Be Paid Remainder Of Fiscal Year
OperatingAndFinanceLeaseLiabilityToBePaidRemainderOfFiscalYear
9146000
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
16004000
CY2023Q3 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
1099000
CY2023Q3 bgs Operating Lease And Finance Lease Liability To Be Paid Year One
OperatingLeaseAndFinanceLeaseLiabilityToBePaidYearOne
17103000
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
15315000
CY2023Q3 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
732000
CY2023Q3 bgs Operating Lease And Finance Lease Liability To Be Paid Year Two
OperatingLeaseAndFinanceLeaseLiabilityToBePaidYearTwo
16047000
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
10693000
CY2023Q3 bgs Operating Lease And Finance Lease Liability To Be Paid Year Three
OperatingLeaseAndFinanceLeaseLiabilityToBePaidYearThree
10693000
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
6841000
CY2023Q3 bgs Operating Lease And Finance Lease Liability To Be Paid Year Four
OperatingLeaseAndFinanceLeaseLiabilityToBePaidYearFour
6841000
CY2023Q3 bgs Lessee Operating Lease Liability Payments Due Year Four Thereafter
LesseeOperatingLeaseLiabilityPaymentsDueYearFourThereafter
12588000
CY2023Q3 bgs Operating Lease And Finance Lease Liability To Be Paid After Year Four
OperatingLeaseAndFinanceLeaseLiabilityToBePaidAfterYearFour
12588000
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
70038000
CY2023Q3 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
2380000
CY2023Q3 bgs Operating Lease And Finance Lease Liability To Be Paid
OperatingLeaseAndFinanceLeaseLiabilityToBePaid
72418000
CY2023Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
5081000
CY2023Q3 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
60000
CY2023Q3 bgs Operating And Finance Lease Liability Undiscounted Excess Amount
OperatingAndFinanceLeaseLiabilityUndiscountedExcessAmount
5141000
CY2023Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
64957000
CY2023Q3 us-gaap Finance Lease Liability
FinanceLeaseLiability
2320000
CY2023Q3 bgs Operating And Finance Lease Liability
OperatingAndFinanceLeaseLiability
67277000
CY2023Q3 bgs Number Of Employee
NumberOfEmployee
3047
CY2023Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1695755
CY2022Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
721427
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
72237482
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
69903828
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
72008119
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
69266967
CY2023Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
142332
CY2022Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
382505
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
79063
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
384638
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
72379814
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
70286333
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
72087182
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
69651605
CY2023Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2374000
CY2022Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1158000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3301000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2248000
CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
469637000
CY2022Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
478965000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
981451000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1011372000
CY2022 bgs Percentage Of Specific Brand Sale To Total Sales
PercentageOfSpecificBrandSaleToTotalSales
0.03
bgs Percentage Of Specific Brand Sale To Total Sales
PercentageOfSpecificBrandSaleToTotalSales
0.03
CY2023Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2023Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2023Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2023Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false

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0001558370-23-013232.txt Edgar Link pending
0001558370-23-013232-xbrl.zip Edgar Link pending
bgs-20230701.xsd Edgar Link pending
bgs-20230701x10q.htm Edgar Link pending
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