$FLO
FLOWERS FOODS INC

2016 Q3 Form 10-Q Financial Statement

#000156459016023935 Filed on August 10, 2016

View on sec.gov

Income Statement

Concept 2016 Q3 2015 Q3
Revenue $935.0M $888.8M
YoY Change 5.2% 1.83%
Cost Of Revenue $478.0M $457.3M
YoY Change 4.53% -0.17%
Gross Profit $457.1M $431.5M
YoY Change 5.92% 4.04%
Gross Profit Margin 48.88% 48.55%
Selling, General & Admin $338.4M $318.8M
YoY Change 6.16% 1.19%
% of Gross Profit 74.04% 73.86%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $32.60M $30.50M
YoY Change 6.89% 1.98%
% of Gross Profit 7.13% 7.07%
Operating Expenses $338.4M $318.8M
YoY Change 6.16% 1.19%
Operating Profit $81.44M $80.04M
YoY Change 1.74% 22.42%
Interest Expense $7.649M $5.998M
YoY Change 27.53% -7.64%
% of Operating Profit 9.39% 7.49%
Other Income/Expense, Net
YoY Change
Pretax Income $78.43M $79.18M
YoY Change -0.95% 24.41%
Income Tax $27.27M $27.42M
% Of Pretax Income 34.77% 34.63%
Net Earnings $51.16M $51.76M
YoY Change -1.17% 23.05%
Net Earnings / Revenue 5.47% 5.82%
Basic Earnings Per Share $0.25 $0.25
Diluted Earnings Per Share $0.24 $0.24
COMMON SHARES
Basic Shares Outstanding 207.2M 210.3M
Diluted Shares Outstanding 209.0M 212.9M

Balance Sheet

Concept 2016 Q3 2015 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $11.60M $46.50M
YoY Change -75.05% 447.06%
Cash & Equivalents $11.60M $46.54M
Short-Term Investments
Other Short-Term Assets $35.90M $54.80M
YoY Change -34.49% 13.91%
Inventory $171.3M $154.1M
Prepaid Expenses
Receivables $293.5M $260.9M
Other Receivables $0.00 $0.00
Total Short-Term Assets $512.3M $516.3M
YoY Change -0.77% 3.09%
LONG-TERM ASSETS
Property, Plant & Equipment $778.2M $777.5M
YoY Change 0.08% -5.68%
Goodwill $464.9M
YoY Change
Intangibles $862.1M
YoY Change
Long-Term Investments
YoY Change
Other Assets $7.672M $42.30M
YoY Change -81.86% 233.15%
Total Long-Term Assets $2.306B $1.911B
YoY Change 20.63% -3.63%
TOTAL ASSETS
Total Short-Term Assets $512.3M $516.3M
Total Long-Term Assets $2.306B $1.911B
Total Assets $2.818B $2.428B
YoY Change 16.08% -2.27%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $179.3M $171.6M
YoY Change 4.47% 14.88%
Accrued Expenses $147.2M $130.7M
YoY Change 12.62% -8.41%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $130.4M $34.20M
YoY Change 281.29% -0.29%
Total Short-Term Liabilities $470.1M $344.3M
YoY Change 36.54% 1.52%
LONG-TERM LIABILITIES
Long-Term Debt $895.8M $659.1M
YoY Change 35.91% -16.76%
Other Long-Term Liabilities $43.36M $129.9M
YoY Change -66.62% 145.46%
Total Long-Term Liabilities $43.36M $232.7M
YoY Change -81.37% 12.34%
TOTAL LIABILITIES
Total Short-Term Liabilities $470.1M $344.3M
Total Long-Term Liabilities $43.36M $232.7M
Total Liabilities $513.5M $1.236B
YoY Change -58.46% 126.28%
SHAREHOLDERS EQUITY
Retained Earnings $923.7M
YoY Change
Common Stock $638.5M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $281.8M
YoY Change
Treasury Stock Shares $21.86M
Shareholders Equity $1.153B $1.192B
YoY Change
Total Liabilities & Shareholders Equity $2.818B $2.428B
YoY Change 16.08% -2.27%

Cashflow Statement

Concept 2016 Q3 2015 Q3
OPERATING ACTIVITIES
Net Income $51.16M $51.76M
YoY Change -1.17% 23.05%
Depreciation, Depletion And Amortization $32.60M $30.50M
YoY Change 6.89% 1.98%
Cash From Operating Activities $73.20M $97.50M
YoY Change -24.92% 90.8%
INVESTING ACTIVITIES
Capital Expenditures -$17.80M -$20.60M
YoY Change -13.59% -3.74%
Acquisitions
YoY Change
Other Investing Activities $3.200M $12.50M
YoY Change -74.4% 184.09%
Cash From Investing Activities -$14.60M -$8.100M
YoY Change 80.25% -52.35%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -58.40M -50.90M
YoY Change 14.73% 48.4%
NET CHANGE
Cash From Operating Activities 73.20M 97.50M
Cash From Investing Activities -14.60M -8.100M
Cash From Financing Activities -58.40M -50.90M
Net Change In Cash 200.0K 38.50M
YoY Change -99.48% -19350.0%
FREE CASH FLOW
Cash From Operating Activities $73.20M $97.50M
Capital Expenditures -$17.80M -$20.60M
Free Cash Flow $91.00M $118.1M
YoY Change -22.95% 62.9%

Facts In Submission

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RepaymentsOfLongTermDebtAndCapitalSecurities
1335350000
us-gaap Repayments Of Long Term Debt And Capital Securities
RepaymentsOfLongTermDebtAndCapitalSecurities
469000000
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-159895000
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-143544000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-2786000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
39021000
CY2015Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
7523000
CY2015Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
46544000
us-gaap Inventory Write Down
InventoryWriteDown
678000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
2411000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
2053000
us-gaap Pension And Other Postretirement Benefit Expense
PensionAndOtherPostretirementBenefitExpense
1607000
us-gaap Pension And Other Postretirement Benefit Expense
PensionAndOtherPostretirementBenefitExpense
-3275000
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
3730000
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
1256000
us-gaap Pension Contributions
PensionContributions
7500000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
26590000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
6589000
us-gaap Increase Decrease In Derivative Assets
IncreaseDecreaseInDerivativeAssets
-463000
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-3370000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
30063000
us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
17173000
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
215934000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
40573000
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
10008000
us-gaap Payments To Acquire Assets Investing Activities
PaymentsToAcquireAssetsInvestingActivities
11428000
us-gaap Proceeds From Collection Of Notes Receivable
ProceedsFromCollectionOfNotesReceivable
13624000
us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="margin-top:12pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:4.54%;">ESTIMATES &#8212; The preparation of financial statements in conformity with GAAP 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 revenues and expenses during the reporting period. Actual results could differ from those estimates. The company believes the following critical accounting estimates affect its more significant judgments and estimates used in the preparation of its consolidated financial statements: revenue recognition, derivative instruments, valuation of long-lived assets, goodwill and other intangibles, self-insurance reserves, income tax expense and accruals and pension obligations. These estimates are summarized in the company&#8217;s Annual Report on Form 10-K for the fiscal year ended January 2, 2016.</p></div>
us-gaap Description Of New Accounting Pronouncements Not Yet Adopted
DescriptionOfNewAccountingPronouncementsNotYetAdopted
<div> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">2. RECENT ACCOUNTING PRONOUNCEMENTS NOT YET ADOPTED</p> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:4.54%;">In May 2014, the Financial Accounting Standards Board (the &#8220;FASB&#8221;) issued guidance for recognizing revenue in contracts with customers. This guidance requires entities to recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. There are five steps outlined in the guidance to achieve this core principle. This guidance was originally effective January 1, 2017, the first day of our fiscal 2017.&nbsp;&nbsp;In July 2015, the FASB issued a deferral for one year, making the effective date December 31, 2017, the first day of our fiscal 2018.&nbsp;&nbsp;In March 2016, the FASB amended the initial guidance to clarify the implementation guidance on principal versus agent considerations.&nbsp;&nbsp;In April 2016, the FASB amended the initial guidance to clarify the identification of performance conditions and the licensing implementation guidance.&nbsp;&nbsp;In May 2016, the FASB amended the initial guidance to update certain narrow scopes within the revenue recognition guidance.&nbsp;&nbsp;Early application is permitted, but not before January 1, 2017.&nbsp;&nbsp;Entities will have the option to apply the final standard retrospectively or use a modified retrospective method, recognizing the cumulative effect of the standards in retained earnings at the date of initial application.&nbsp;&nbsp;An entity will not restate prior periods if uses the modified retrospective method, but will be required to disclose the amount by which each financial statement line item is affected in the current reporting period by the application of the standard as compared to the guidance in effect prior to the change, as well as reasons for significant changes.&nbsp;&nbsp;The company intends to adopt the updated standard in the first quarter of fiscal 2018.&nbsp;&nbsp;The company is currently evaluating the impact that implementing this standard will have on its financial statements and disclosures, as well as whether it will use the retrospective or modified retrospective method of adoption.&nbsp;&nbsp;</p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In July 2015, the FASB issued guidance that entities should measure inventory at the lower of cost and net realizable value. Net realizable value is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation.&nbsp;&nbsp;This guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December&#160;15, 2016. This guidance shall be applied prospectively with earlier application permitted as of the beginning of an interim or annual reporting period.&nbsp;&nbsp;The company is still analyzing the potential impact of this guidance on the company&#8217;s Condensed Consolidated Financial Statements.</p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In February 2016, the FASB issued guidance that requires an entity to recognize lease liabilities and a right-of-use asset for virtually all leases (other than those that meet the definition of a short-term lease) on the balance sheet and to disclose key information about the entity&#8217;s leasing arrangements.&nbsp;&nbsp;This guidance is effective for annual reporting periods beginning after December 15, 2018, including interim periods within that reporting period, with earlier adoption permitted.&nbsp;&nbsp;This guidance must be adopted using a modified retrospective approach for all leases existing at, or entered into after the date of initial adoption, with an option to elect to use certain transition relief.&nbsp;&nbsp;The company intends to adopt the updated standard in the first quarter of fiscal 2019.&nbsp;&nbsp;The company is evaluating the potential impact of this guidance on our Condensed Consolidated Financial Statements.</p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In March 2016, the FASB issued guidance to simplify several aspects of the accounting for employee share-based payment transactions including the accounting for income taxes, forfeitures, and statutory tax withholding requirements, as well as classification in the statement of cash flows.&nbsp;&nbsp;This guidance is effective for fiscal years beginning after December 15, 2016, and interim periods within those fiscal years, and early adoption is permitted.&nbsp;&nbsp;The company is evaluating the potential impact of this guidance on our Condensed Consolidated Financial Statements and the timing of when we will adopt the guidance.</p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">We have reviewed other recently issued accounting pronouncements and concluded that they are either not applicable to our business or that no material effect is expected upon future adoption.</p></div>
us-gaap Loss Contingency Disclosures
LossContingencyDisclosures
<div> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">11. LITIGATION</p> <p style="margin-bottom:0pt;margin-top:6pt;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:4.54%;">The company and its subsidiaries from time to time are parties to, or targets of, lawsuits, claims, investigations and proceedings, which are being handled and defended in the ordinary course of business. While the company is unable to predict the outcome of these matters, it believes, based upon currently available facts, that it is remote that the ultimate resolution of any such pending matters will have a material adverse effect on its overall financial condition, results of operations or cash flows in the future. However, adverse developments could negatively impact earnings in a particular future fiscal period. </p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The company&#8217;s facilities are subject to various federal, state and local laws and regulations regarding the discharge of material into the environment and the protection of the environment in other ways. The company is not a party to any material proceedings arising under these regulations. The company believes that compliance with existing environmental laws and regulations will not materially affect the consolidated financial condition, results of operations, cash flows or the competitive position of the company. The company believes it is currently in substantial compliance with all material environmental regulations affecting the company and its properties. </p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">On September 12, 2012, a complaint was filed in the U.S. District Court for the Western District of North Carolina (Charlotte Division) by Scott Rehberg, Willard Allen Riley and Mario Ronchetti against the company and its subsidiary, Flowers Baking Company of Jamestown, LLC. Plaintiffs are or were distributors of our Jamestown subsidiary who contend they were misclassified as independent contractors. The action sought class certification on behalf of a class comprised of independent distributors of our Jamestown subsidiary who are classified as independent contractors. In March 2013, the court conditionally certified the class action for claims under the Fair Labor Standards Act (&#8220;FLSA&#8221;). On March 23, 2015, the court re-affirmed its FLSA certification decision and also certified claims under state law. </p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">At this time, the company is also defending 23 other complaints alleging misclassification claims that have been filed. The company and/or its respective subsidiaries are vigorously defending these lawsuits. Given the varying stages of the complaints and the claims and issues presented, the company cannot reasonably estimate at this time the possible loss or range of loss, if any, that may arise from the unresolved lawsuits. </p></div>
us-gaap Schedule Of Repurchase Agreements
ScheduleOfRepurchaseAgreements
<div> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:9pt;">&nbsp;</p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">18. ACCELERATED SHARE REPURCHASE PROGRAM</p> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:4.54%;">On March 16, 2016, the company announced that we entered into an accelerated share repurchase program (&#8220;ASR&#8221;) agreement to repurchase an aggregate of $120.0 million of the company&#8217;s common stock.&nbsp;&nbsp;Under the terms of the ASR, the company paid $120.0 million in cash and received an initial delivery of 5.6 million shares immediately.&nbsp;&nbsp;The final number of shares repurchased was based on the daily volume-weighted average stock price over the life of the transaction, less a negotiated discount.&nbsp;&nbsp;During the second quarter of fiscal 2016, a total of 0.9 million shares were issued to the company at the time of final settlement.&nbsp;&nbsp;The ASR met all applicable criteria for equity classification and, therefore, was not accounted for as a derivative instrument.&nbsp;&nbsp;Shares repurchased under the ASR were added to our treasury shares.&nbsp;&nbsp;The company funded the ASR with borrowings on its credit facility and cash on hand.</p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">During the twenty-eight weeks ended July 16, 2016, 6.9 million shares, at a cost of $126.3 million, of the company&#8217;s common stock were repurchased (and settled) under an authorized share repurchase plan and the ASR.&nbsp;&nbsp;From the inception of the plan through July 16, 2016, 67.8 million shares, at a cost of $630.4 million, have been repurchased.</p></div>
us-gaap Additional Information About Entitys Reportable Segments
AdditionalInformationAboutEntitysReportableSegments
SEGMENTS — Flowers Foods currently operates two business segments: a direct-store-delivery (“DSD”) segment (“DSD Segment”) and a warehouse delivery segment (“Warehouse Segment”). The DSD Segment (84% of total year to date sales) currently operates 39 bakeries that produce a wide variety of fresh bakery foods, including fresh breads, buns, rolls, tortillas, and snack cakes. These products are sold through a DSD route delivery system to retail and foodservice customers in the Southeast, Mid-Atlantic, New England, Southwest, California and select markets in Nevada, the Midwest and the Pacific Northwest. The Warehouse Segment (16% of total year to date sales) currently operates ten bakeries that produce snack cakes, breads and rolls for national retail, foodservice, vending, and co-pack customers and deliver through customers’ warehouse channels. The Warehouse Segment also operates one baking ingredient mix facility
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2
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NewAccountingPronouncementOrChangeInAccountingPrincipleRetrospectiveEffectOfChangeInOtherNonCurrentAssetLongTermDebtAndCapitalLeaseObligations
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CY2016Q1 flo New Accounting Pronouncement Or Change In Accounting Principle Retrospective Effect Of Change In Current Deferred Income Tax Asset And Long Term Deferred Income Tax Liability
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us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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4138000
us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
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us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
1390000
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FiniteLivedIntangibleAssetsNet
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FiniteLivedIntangibleAssetsNet
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IndefiniteLivedIntangibleAssetsExcludingGoodwill
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CY2016Q3 us-gaap Finite Lived Intangible Assets Gross
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FiniteLivedIntangibleAssetsGross
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AmortizationOfIntangibleAssets
5740000
CY2015Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2710000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
13393000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
6285000
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FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
11100000
CY2016Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
23578000
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FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
22878000
CY2016Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
22385000
CY2016Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
21893000
flo Number Of Independent Distributors
NumberOfIndependentDistributors
3675
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NotesReceivableNet
170489000
CY2016Q1 us-gaap Notes Receivable Net
NotesReceivableNet
174904000
CY2015Q3 us-gaap Notes Receivable Net
NotesReceivableNet
185552000
CY2016Q3 us-gaap Notes And Loans Receivable Net Current
NotesAndLoansReceivableNetCurrent
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NotesAndLoansReceivableNetCurrent
20593000
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NotesAndLoansReceivableNetCurrent
20699000
CY2015Q3 us-gaap Notes And Loans Receivable Net Noncurrent
NotesAndLoansReceivableNetNoncurrent
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SeniorLongTermNotes
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PriceRiskCashFlowHedgeAssetAtFairValue
273000
CY2016Q3 us-gaap Price Risk Cash Flow Hedge Derivative At Fair Value Net
PriceRiskCashFlowHedgeDerivativeAtFairValueNet
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CY2016Q1 us-gaap Price Risk Cash Flow Hedge Liability At Fair Value
PriceRiskCashFlowHedgeLiabilityAtFairValue
14887000
CY2016Q1 us-gaap Price Risk Cash Flow Hedge Derivative At Fair Value Net
PriceRiskCashFlowHedgeDerivativeAtFairValueNet
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UnrealizedGainLossOnInterestRateCashFlowHedgesPretaxAccumulatedOtherComprehensiveIncomeLoss
3100000
CY2016Q3 us-gaap Cash Flow Hedge Derivative Instrument Assets At Fair Value
CashFlowHedgeDerivativeInstrumentAssetsAtFairValue
273000
CY2016Q3 us-gaap Cash Flow Hedge Derivative Instrument Liabilities At Fair Value
CashFlowHedgeDerivativeInstrumentLiabilitiesAtFairValue
13248000
CY2016Q1 us-gaap Cash Flow Hedge Derivative Instrument Liabilities At Fair Value
CashFlowHedgeDerivativeInstrumentLiabilitiesAtFairValue
14887000
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GainLossOnCashFlowHedgeIneffectivenessNet
0
us-gaap Gain Loss On Cash Flow Hedge Ineffectiveness Net
GainLossOnCashFlowHedgeIneffectivenessNet
0
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us-gaap Gain Loss On Cash Flow Hedge Ineffectiveness Net
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0
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LineOfCredit
32500000
CY2016Q1 us-gaap Line Of Credit
LineOfCredit
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SecuredDebt
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SecuredDebt
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CapitalLeaseObligations
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OtherNotesPayable
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CY2016Q3 us-gaap Debt And Capital Lease Obligations
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DebtAndCapitalLeaseObligations
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13300000
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BankOverdrafts
18000000
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LongTermDebtAndCapitalLeaseObligationsMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
64958000
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84960000
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40318000
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LongTermDebtAndCapitalLeaseObligationsMaturitiesRepaymentsOfPrincipalInYearFive
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LongTermDebtAndCapitalLeaseObligationsMaturitiesRepaymentsOfPrincipalAfterYearFive
418703000
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1031751000
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1803000
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us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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2047000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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0
us-gaap Employee Service Share Based Compensation Tax Benefit Realized From Exercise Of Stock Options
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2020000
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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2705000
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us-gaap Employee Service Share Based Compensation Tax Benefit Realized From Exercise Of Stock Options
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
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2807000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Period Increase Decrease
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsPeriodIncreaseDecrease
248872
flo Percentage Of Change In Grants Maximum
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0.27
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1335
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
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P1Y
flo Share Based Compensation Arrangement By Share Based Payment Award Maximum Exercisable Period For Stock Options
ShareBasedCompensationArrangementByShareBasedPaymentAwardMaximumExercisablePeriodForStockOptions
P9Y
CY2016Q3 us-gaap Share Based Compensation
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3527000
CY2015Q3 us-gaap Share Based Compensation
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3519000
CY2016Q3 us-gaap Pension And Other Postretirement Defined Benefit Plans Current Liabilities
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CY2016Q3 us-gaap Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax
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118447000
CY2016Q1 us-gaap Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax
AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax
86610000
us-gaap Defined Benefit Plans Estimated Future Employer Contributions In Current Fiscal Year
DefinedBenefitPlansEstimatedFutureEmployerContributionsInCurrentFiscalYear
0
us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
15800000
us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
14500000
CY2016Q3 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
6500000
CY2015Q3 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
6000000
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.353
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.350
CY2016Q1 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
5600000
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
6892194

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