Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Dec. 28, 2019 | Feb. 21, 2020 | Jun. 29, 2019 | |
Entity Information [Line Items] | |||
Entity Registrant Name | DIXIE GROUP INC | ||
Entity Central Index Key | 0000029332 | ||
Entity File Number | 0-2585 | ||
Entity Tax Identification Number | 62-0183370 | ||
Current Fiscal Year End Date | --12-28 | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Incorporation, State or Country Code | TN | ||
Entity Emerging Growth Company | false | ||
Entity Small Business | true | ||
Entity Shell Company | false | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 28, 2019 | ||
Document Fiscal Year Focus | 2019 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false | ||
Document Transition Report | false | ||
Entity Address, Address Line 1 | 475 Reed Road | ||
Entity Address, City or Town | Dalton | ||
Entity Address, State or Province | GA | ||
Entity Address, Country | US | ||
Entity Address, Postal Zip Code | 30720 | ||
City Area Code | 706 | ||
Local Phone Number | 876-5800 | ||
Entity Well-Known Seasoned Filer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Public Float | $ 7,846,814 | ||
Common Class A [Member] | |||
Entity Information [Line Items] | |||
Entity Common Stock, Shares Outstanding | 14,983,013 | ||
Common Class B [Member] | |||
Entity Information [Line Items] | |||
Entity Common Stock, Shares Outstanding | 836,669 | ||
Common Class C [Member] | |||
Entity Information [Line Items] | |||
Entity Common Stock, Shares Outstanding | 0 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 28, 2019 | Dec. 29, 2018 |
CURRENT ASSETS | ||
Cash and cash equivalents | $ 769 | $ 18 |
Receivables, net | 37,138 | 42,542 |
Inventories, net | 95,509 | 105,195 |
Prepaid expenses | 6,179 | 5,204 |
TOTAL CURRENT ASSETS | 139,595 | 152,959 |
PROPERTY, PLANT AND EQUIPMENT, NET | 65,442 | 84,111 |
OPERATING LEASE RIGHT-OF-USE ASSETS | 24,835 | 0 |
OTHER ASSETS | 17,787 | 15,708 |
TOTAL ASSETS | 247,659 | 252,778 |
CURRENT LIABILITIES | ||
Accounts payable | 16,084 | 17,779 |
Accrued expenses | 25,418 | 30,852 |
Current portion of long-term debt | 6,684 | 7,794 |
Current portion of operating lease liabilities | 3,172 | 0 |
TOTAL CURRENT LIABILITIES | 51,358 | 56,425 |
LONG-TERM DEBT | 81,667 | 120,251 |
OPERATING LEASE LIABILITIES | 22,123 | 0 |
OTHER LONG-TERM LIABILITIES | 19,300 | 17,118 |
TOTAL LIABILITIES | 174,448 | 193,794 |
COMMITMENTS AND CONTINGENCIES (See Note 19) | ||
STOCKHOLDERS' EQUITY | ||
Common Stock ($3 par value per share): Authorized 80,000,000 shares, issued and outstanding - 15,025,087 shares for 2019 and 15,522,588 shares for 2018 | 45,075 | 46,568 |
Class B Common Stock ($3 par value per share): Authorized 16,000,000 shares, issued and outstanding - 836,669 shares for 2019 and 839,304 shares for 2018 | 2,510 | 2,518 |
Additional paid-in capital | 157,547 | 156,390 |
Accumulated deficit | (131,113) | (146,384) |
Accumulated other comprehensive income (loss) | (808) | (108) |
TOTAL STOCKHOLDERS' EQUITY | 73,211 | 58,984 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ 247,659 | $ 252,778 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - $ / shares | Dec. 28, 2019 | Dec. 29, 2018 |
Common stock, par value | $ 3 | $ 3 |
Common stock, shares authorized | 80,000,000 | 80,000,000 |
Common stock, shares issued | 15,025,087 | 15,522,588 |
Class B Common stock, par value | $ 3 | $ 3 |
Class B Common stock, shares authorized | 16,000,000 | 16,000,000 |
Class B Common stock, shares issued | 836,669 | 839,304 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 28, 2019 | Dec. 29, 2018 | Dec. 30, 2017 | ||
NET SALES | $ 374,582 | $ 405,033 | $ 412,462 | |
Cost of sales | 288,377 | 318,042 | 311,249 | |
GROSS PROFIT | 86,205 | 86,991 | 101,213 | |
Selling and administrative expenses | 83,825 | 92,473 | 96,189 | |
Other operating (income) expense, net | (23,988) | 458 | 441 | |
Facility consolidation and severance expenses, net | 5,019 | 3,167 | 636 | |
Impairment of assets | 0 | 6,709 | 0 | |
OPERATING INCOME (LOSS) | 21,349 | (15,816) | 3,947 | |
Interest expense | 6,444 | 6,491 | 5,739 | |
Other (income) expense, net | (57) | 3 | 21 | |
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE TAXES | 14,962 | (22,310) | (1,813) | |
Income tax provision (benefit) | (657) | (831) | 7,509 | |
INCOME (LOSS) FROM CONTINUING OPERATIONS | 15,619 | (21,479) | (9,322) | |
Income (loss) from discontinued operations, net of tax | (348) | 95 | (233) | |
NET INCOME (LOSS) | $ 15,271 | $ (21,384) | $ (9,555) | |
BASIC EARNINGS (LOSS) PER SHARE: | ||||
Continuing operations | $ 0.96 | $ (1.36) | $ (0.59) | |
Discontinued operations | (0.02) | 0.01 | (0.01) | |
Net income (loss) | $ 0.94 | $ (1.35) | $ (0.60) | |
BASIC SHARES OUTSTANDING | [1] | 15,822 | 15,764 | 15,699 |
DILUTED EARNINGS (LOSS) PER SHARE: | ||||
Continuing operations | $ 0.95 | $ (1.36) | $ (0.59) | |
Discontinued operations | (0.02) | 0.01 | (0.01) | |
Net income (loss) | $ 0.93 | $ (1.35) | $ (0.60) | |
DILUTED SHARES OUTSTANDING | [1],[2] | 15,926 | 15,764 | 15,699 |
DIVIDENDS PER SHARE: | ||||
Common Stock | $ 0 | $ 0 | $ 0 | |
Class B Common Stock | $ 0 | $ 0 | $ 0 | |
[1] | Includes Common and Class B Common shares, excluding 461, 570, and 434 unvested participating securities, in thousands, for 2019, 2018, and 2017, respectively. | |||
[2] | Shares issuable under stock option plans where the exercise price is greater than the average market price of the Company's Common Stock during the relevant period and directors' stock performance units have been excluded to the extent they are anti-dilutive. Aggregate shares excluded were 166 in 2019, 422 in 2018 and 448 in 2017. |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 28, 2019 | Dec. 29, 2018 | Dec. 30, 2017 | ||
NET INCOME (LOSS) | $ 15,271 | $ (21,384) | $ (9,555) | |
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX: | ||||
Unrealized gain (loss) on interest rate swaps | (1,109) | 531 | 180 | |
Income taxes | 0 | 0 | 68 | |
Unrealized gain (loss) on interest rate swaps, net | (1,109) | 531 | 112 | |
Reclassification of loss into earnings from interest rate swaps (1) | [1] | 454 | 673 | 1,250 |
Income taxes | 10 | 0 | 475 | |
Reclassification of loss into earnings from interest rate swaps, net | 444 | 673 | 775 | |
Unrecognized net actuarial gain (loss) on postretirement benefit plans | (6) | 18 | 11 | |
Income taxes | 0 | 0 | 4 | |
Unrecognized net actuarial gain (loss) on postretirement benefit plans, net | (6) | 18 | 7 | |
Reclassification of net actuarial gain into earnings from postretirement benefit plans (2) | [2] | (27) | (27) | (30) |
Income taxes | 0 | 0 | (11) | |
Reclassification of net actuarial gain into earnings from postretirement benefit plans, net | (27) | (27) | (19) | |
Reclassification of prior service credits into earnings from postretirement benefit plans (2) | [2] | (2) | (4) | (4) |
Income taxes | 0 | 0 | (1) | |
Reclassification of prior service credits into earnings from postretirement benefit plans, net | (2) | (4) | (3) | |
TOTAL OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX | (700) | 1,191 | 872 | |
COMPREHENSIVE INCOME (LOSS) | $ 14,571 | $ (20,193) | $ (8,683) | |
[1] | Amounts for cash flow hedges reclassified from accumulated other comprehensive income (loss) to net income (loss) were included in interest expense in the Company's Consolidated Statements of Operations. | |||
[2] | Amounts for postretirement plans reclassified from accumulated other comprehensive income (loss) to net income (loss) were included in selling and administrative expenses in the Company's Consolidated Statements of Operations. |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 28, 2019 | Dec. 29, 2018 | Dec. 30, 2017 | |
CASH FLOWS FROM OPERATING ACTIVITIES | |||
Income (loss) from continuing operations | $ 15,619 | $ (21,479) | $ (9,322) |
Income (loss) from discontinued operations | (348) | 95 | (233) |
Net income (loss) | 15,271 | (21,384) | (9,555) |
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | |||
Depreciation and amortization | 11,440 | 12,653 | 12,947 |
Provision (benefit) for deferred income taxes | (487) | (537) | 8,181 |
Net loss (gain) on property, plant and equipment disposals | (25,281) | (1,047) | 170 |
Impairment of assets | 0 | 1,164 | 0 |
Impairment of goodwill and intangibles | 0 | 5,545 | 0 |
Stock-based compensation (credit) expense | 483 | (29) | 940 |
Bad debt expense | 240 | 163 | 70 |
Changes in operating assets and liabilities: | |||
Receivables | 5,164 | 3,775 | (2,945) |
Inventories | 9,686 | 8,462 | (16,420) |
Prepaids and other current assets | (975) | (535) | 776 |
Accounts payable and accrued expenses | (3,678) | (4,198) | (3,161) |
Other operating assets and liabilities | (176) | 1,073 | (609) |
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES | 11,687 | 5,105 | (9,606) |
CASH FLOWS FROM INVESTING ACTIVITIES | |||
Net proceeds from sales of property, plant and equipment | 37,205 | 1,856 | 0 |
Purchase of property, plant and equipment | (4,235) | (4,052) | (12,724) |
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES | 32,970 | (2,196) | (12,724) |
CASH FLOWS FROM FINANCING ACTIVITIES | |||
Net borrowings (payments) on revolving credit facility | (39,524) | 1,512 | 27,125 |
Payments on notes payable - buildings | (5,475) | (731) | (731) |
Payments on notes payable related to acquisitions | 0 | (791) | (1,920) |
Borrowings on notes payable - equipment and other | 1,379 | 3,273 | 7,612 |
Payments on notes payable - equipment and other | (3,375) | (4,260) | (4,145) |
Borrowings on finance leases | 11,500 | 0 | 0 |
Payments on finance leases | (4,166) | (4,617) | (3,921) |
Change in outstanding checks in excess of cash | (3,141) | 2,762 | (1,695) |
Repurchases of Common Stock | (827) | (58) | (116) |
Payments for debt issuance costs | (277) | 0 | 0 |
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES | (43,906) | (2,910) | 22,209 |
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 751 | (1) | (121) |
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD | 18 | 19 | 140 |
CASH AND CASH EQUIVALENTS AT END OF PERIOD | 769 | 18 | 19 |
SUPPLEMENTAL CASH FLOW INFORMATION: | |||
Right-of-use assets obtained in exchange for new finance lease liabilities | 52 | 0 | 0 |
Equipment purchased under capital leases | 0 | 223 | 621 |
Equipment purchased under notes payable | 0 | 0 | 59 |
Right-of-use assets obtained in exchange for new operating lease liabilities | 18,167 | 0 | 0 |
Accrued purchases of equipment | $ 188 | $ 166 | $ 179 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands | Total | Common Class A [Member] | Common Class B [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] |
Stockholders' Equity Attributable to Parent at Dec. 31, 2016 | $ 87,122 | $ 45,745 | $ 2,612 | $ 156,381 | $ (115,656) | $ (1,960) |
Repurchases of Common Stock | (116) | (100) | 0 | (16) | 0 | 0 |
Restricted stock grants issued | 0 | 180 | 0 | (180) | 0 | 0 |
Restricted stock grants forfeited | (2) | (14) | 0 | (12) | 0 | 0 |
Class B converted into Common Stock | 0 | 28 | (28) | 0 | 0 | 0 |
Stock-based compensation expense | 942 | 0 | 0 | 942 | 0 | 0 |
Net income (loss) | (9,555) | 0 | 0 | 0 | (9,555) | 0 |
Other comprehensive income (loss) | 872 | 0 | 0 | 0 | 0 | 872 |
Reclassification of stranded tax effects | 0 | 0 | 0 | 0 | 211 | (211) |
Stockholders' Equity Attributable to Parent at Dec. 30, 2017 | 79,263 | 45,839 | 2,584 | 157,139 | (125,000) | (1,299) |
Common Stock issued | 0 | 119 | 0 | (119) | 0 | 0 |
Repurchases of Common Stock | (57) | (61) | 0 | 4 | 0 | 0 |
Restricted stock grants issued | 0 | 677 | 245 | (922) | 0 | 0 |
Restricted stock grants forfeited | (938) | (25) | (292) | (621) | 0 | 0 |
Class B converted into Common Stock | 0 | 19 | (19) | 0 | 0 | 0 |
Stock-based compensation expense | 909 | 0 | 0 | 909 | 0 | 0 |
Net income (loss) | (21,384) | 0 | 0 | 0 | (21,384) | 0 |
Other comprehensive income (loss) | 1,191 | 0 | 0 | 0 | 0 | 1,191 |
Stockholders' Equity Attributable to Parent at Dec. 29, 2018 | 58,984 | 46,568 | 2,518 | 156,390 | (146,384) | (108) |
Common Stock issued | 0 | 87 | 0 | (87) | 0 | 0 |
Repurchases of Common Stock | (827) | (1,535) | 0 | 708 | 0 | 0 |
Restricted stock grants forfeited | (11) | (53) | 0 | 42 | 0 | 0 |
Class B converted into Common Stock | 0 | 8 | (8) | 0 | 0 | 0 |
Stock-based compensation expense | 494 | 0 | 0 | 494 | 0 | 0 |
Net income (loss) | 15,271 | 0 | 0 | 0 | 15,271 | 0 |
Other comprehensive income (loss) | (700) | 0 | 0 | 0 | 0 | (700) |
Stockholders' Equity Attributable to Parent at Dec. 28, 2019 | $ 73,211 | $ 45,075 | $ 2,510 | $ 157,547 | $ (131,113) | $ (808) |
Consolidated Statements of St_2
Consolidated Statements of Stockholders' Equity (Parentheticals) - shares | 12 Months Ended | ||
Dec. 28, 2019 | Dec. 29, 2018 | Dec. 30, 2017 | |
Statement of Stockholders' Equity [Abstract] | |||
Exercised | 29,001 | 39,711 | 0 |
Common Stock, shares issued under Directors' Stock Plan | 0 | 0 | 0 |
Common Stock, shares purchased | 511,353 | 20,226 | 33,112 |
Restricted Stock, shares issued | 0 | 307,292 | 60,000 |
Restricted Stock, shares forfeited | 17,784 | 106,196 | 4,629 |
Class B Common Stock converted into Class A Common Stock, shares | 2,635 | 6,250 | 9,215 |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 28, 2019 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Business The Company's businesses consist principally of marketing, manufacturing and selling finished carpet, rugs and luxury vinyl flooring in the domestic floorcovering market. The Company sells floorcovering products in both residential and commercial applications. Additionally, the Company provides manufacturing support to its carpet businesses through its separate processing operations. Based on applicable accounting standards, the Company has determined that it has one reportable segment, Floorcovering comprising of two operating segments, Residential and Commercial. Pursuant to accounting standards, the Company has aggregated the two operating segments into one reporting segment because they have similar economic characteristics, and the operating segments are similar in all of the following areas: (a) the nature of the products and services; (b) the nature of the production processes; (c) the type or class of customer for their products and services; (d) the methods used to distribute their products or provide their services; and (e) the nature of the regulatory environment. Principles of Consolidation The Consolidated Financial Statements include the accounts of The Dixie Group, Inc. and its wholly-owned subsidiaries (the "Company"). Significant intercompany accounts and transactions have been eliminated in consolidation. Use of Estimates in the Preparation of Financial Statements The preparation of consolidated financial statements in conformity with U.S. generally accepted accounting principles ("U.S. GAAP") requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates and these differences could be material. Fiscal Year The Company ends its fiscal year on the last Saturday of December. All references herein to "2019," "2018," and "2017," mean the fiscal years ended December 28, 2019, December 29, 2018, and December 30, 2017, respectively. All years presented contained 52 weeks. Reclassifications The Company reclassified certain amounts in 2018 and 2017 to conform to the 2019 presentation. Discontinued Operations The consolidated financial statements separately report discontinued operations and the results of continuing operations (See Note 22). Cash and Cash Equivalents Highly liquid investments with original maturities of three months or less when purchased are reported as cash equivalents. Market Risk The Company sells carpet to floorcovering retailers, the interior design, architectural and specifier communities and supplies carpet yarn and carpet dyeing and finishing services to certain manufacturers. The Company's customers are located principally throughout the United States. As a percentage of net sales, one customer accounted for approximately 11% in 2019, 13% in 2018 and 14% in 2017. No other customer accounted for more than 10% of net sales in 2019, 2018, or 2017, nor did the Company make a significant amount of sales to foreign countries during 2019, 2018, or 2017. Credit Risk The Company grants credit to its customers with defined payment terms, performs ongoing evaluations of the credit worthiness of its customers and generally does not require collateral. Accounts receivable are carried at their outstanding principal amounts, less an anticipated amount for discounts and an allowance for doubtful accounts, which management believes is sufficient to cover potential credit losses based on historical experience and periodic evaluation of the financial condition of the Company's customers. As a percentage of customer's trade accounts receivable, one customer accounted for approximately 18% in 2019, 34% in 2018, and 31% in 2017. Notes receivable are carried at their outstanding principal amounts, less an allowance for doubtful accounts to cover potential credit losses based on the financial condition of borrowers and collateral held by the Company. Inventories Inventories are stated at the lower of cost or market. Cost is determined using the last-in, first-out ("LIFO") method, which generally matches current costs of inventory sold with current revenues, for substantially all inventories. Property, Plant and Equipment Property, plant and equipment are stated at the lower of cost or impaired value. Provisions for depreciation and amortization of property, plant and equipment have been computed for financial reporting purposes using the straight-line method over the estimated useful lives of the related assets, ranging from 10 to 40 years for buildings and improvements, and 3 to 10 years for machinery and equipment. Costs to repair and maintain the Company's equipment and facilities are expensed as incurred. Such costs typically include expenditures to maintain equipment and facilities in good repair and proper working condition. Impairment of Long-Lived Assets Long-lived assets are reviewed for impairment when circumstances indicate that the carrying value of an asset may not be fully recoverable. When the carrying value of the asset exceeds the value of its estimated undiscounted future cash flows, an impairment charge is recognized equal to the difference between the asset's carrying value and its fair value. Fair value is estimated using discounted cash flows, prices for similar assets or other valuation techniques. Goodwill and Other Intangible Assets Goodwill represents the excess of purchase price over the fair value of identified net assets acquired in business combinations. In accordance with the provisions of the Financial Accounting Standards Board ("FASB") Accounting Standards Codification Topic ("ASC") 350, “Intangibles-Goodwill and Other,” the Company tests goodwill for impairment annually in the fourth quarter of each year or more frequently if events or circumstances indicate that the carrying value of goodwill associated with a reporting unit may not be fully recoverable. The goodwill impairment tests are based on determining the fair value of the specified reporting units based on management judgments and assumptions using the discounted cash flows and comparable company market valuation approaches. The Company has identified its reporting unit as its floorcovering business for the purposes of allocating goodwill and assessing impairments. The valuation approaches are subject to key judgments and assumptions that are sensitive to change such as judgments and assumptions about sales growth rates, operating margins, the weighted average cost of capital (“WACC”) and comparable company market multiples. When developing these key judgments and assumptions, the Company considers economic, operational and market conditions that could impact the fair value of the reporting unit. However, estimates are inherently uncertain and represent only management’s reasonable expectations regarding future developments. These estimates and the judgments and assumptions upon which the estimates are based will, in all likelihood, differ in some respects from actual future results. Should a significant or prolonged deterioration in economic conditions occur or a decline in comparable company market multiples, then key judgments and assumptions could be impacted. In the goodwill assessment process, the Company compares the carrying value of a reporting unit, including goodwill, to the fair value of the reporting unit to identify potential goodwill impairments. The Company estimates the fair value of the reporting unit by using both a discounted cash flow and comparable company market valuation approach. If an impairment is indicated in the assessment, the impairment would be measured as the amount by which the reporting unit's carrying value exceeds its fair value, not to exceed the carrying value of goodwill. (See Note 7). Identifiable intangible assets with finite lives are generally amortized on a straight-line basis over their respective lives, which range from 10 to 20 years (See Note 7). Self-Insured Benefit Programs The Company records liabilities to reflect an estimate of the ultimate cost of claims related to its self-insured medical and dental benefits and workers' compensation. The amounts of such liabilities are based on an analysis of the Company's historical experience for each type of claim. Income Taxes The Company recognizes deferred income tax assets and liabilities for the future tax consequences of the differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. The Company evaluates the recoverability of these future tax benefits by assessing the adequacy of future expected taxable income from all sources. In the event that the Company is not able to realize all or a portion of the deferred tax assets in the future, a valuation allowance is provided. The Company recognizes such amounts through a charge to income in the period in which that determination is made or when tax law changes are enacted. The Company accounts for uncertainty in income tax positions according to FASB guidance relating to uncertain tax positions. The Company recognizes interest and penalties related to uncertain tax positions, if any, in income tax expense. Derivative Financial Instruments The Company does not hold speculative financial instruments, nor does it hold or issue financial instruments for trading purposes. The Company uses derivative instruments, currently interest rate swaps, to minimize the effects of interest rate volatility. The Company recognizes all derivatives at fair value. Derivatives that are designated as cash flow hedges are linked to specific liabilities on the Company's balance sheet. The Company assesses, both at inception and on an ongoing basis, whether the derivatives that are used in hedging transactions are highly effective in offsetting changes in cash flows of the hedged items. When it is determined that a derivative is not highly effective or the derivative expires, is sold, terminated, or exercised, the Company discontinues hedge accounting for that specific hedge instrument. Changes in the fair value of effective cash flow hedges are deferred in accumulated other comprehensive income (loss) ("AOCIL") and reclassified to earnings in the same periods during which the hedge transaction affects earnings. Changes in the fair value of derivatives that are not effective cash flow hedges are recognized in results of operations. Treasury Stock The Company classifies treasury stock as a reduction to Common Stock for the par value of such shares acquired and the difference between the par value and the price paid for each share recorded either entirely to retained earnings or to additional paid-in-capital for periods in which the Company does not have retained earnings. This presentation reflects the repurchased shares as authorized but unissued as prescribed by state statute. Revenue Recognition The Company derives its revenues primarily from the sale of floorcovering products and processing services. Revenues are recognized when control of these products or services is transferred to its customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those products and services. Sales, value add, and other taxes the Company collects concurrent with revenue-producing activities are excluded from revenue. Shipping and handling fees charged to customers are reported within revenue. Incidental items that are immaterial in the context of the contract are recognized as expense. The Company does not have any significant financing components as payment is received at or shortly after the point of sale. The Company determined revenue recognition through the following steps: • Identification of the contract with a customer • Identification of the performance obligations in the contract • Determination of the transaction price • Allocation of the transaction price to the performance obligations in the contract • Recognition of revenue when, or as, the performance obligation is satisfied Performance Obligations For performance obligations related to residential floorcovering and commercial floorcovering products, control transfers at a point in time. To indicate the transfer of control, the Company must have a present right to payment, legal title must have passed to the customer and the customer must have the significant risks and rewards of ownership. The Company’s principal terms of sale are FOB Shipping Point and FOB Destination and the Company transfers control and records revenue for product sales either upon shipment or delivery to the customer, respectively. Revenue is allocated to each performance obligation based on its relative stand-alone selling prices. Stand-alone selling prices are based on observable prices at which the Company separately sells the products or services. Variable Consideration The nature of the Company’s business gives rise to variable consideration, including rebates, allowances, and returns that generally decrease the transaction price, which reduces revenue. These variable amounts are generally credited to the customer, based on achieving certain levels of sales activity, product returns, or price concessions. Variable consideration is estimated at the most likely amount that is expected to be earned. Estimated amounts are included in the transaction price to the extent it is probable that a significant reversal of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is resolved. Estimates of variable consideration are estimated based upon historical experience and known trends. Advertising Costs The Company engages in promotional and advertising programs. Expenses relating to these programs are charged to results of operations during the period of the related benefits. These arrangements do not require significant estimates of costs. Costs related to cooperative advertising programs are normally recorded as selling and administrative expenses when the Company can reasonably identify the benefit associated with the program and can reasonably estimate that the fair value of the benefit is equal to or greater than its cost. The amount of advertising and promotion expenses included in selling and administrative expenses was not significant for the years 2019, 2018, or 2017. Warranties The Company generally provides product warranties related to manufacturing defects and specific performance standards for its products for a period of up to two years. The Company accrues for estimated future assurance warranty costs in the period in which the sale is recorded. The costs are included in cost of sales in the Consolidated Statements of Operations and the product warranty reserve is included in accrued expenses in the Consolidated Balance Sheets. The Company calculates its accrual using the portfolio approach based upon historical experience and known trends. (See Note 9.) The Company does not provide an additional service-type warranty. Cost of Sales Cost of sales includes all costs related to manufacturing the Company's products, including purchasing and receiving costs, inspection costs, warehousing costs, freight costs, internal transfer costs or other costs of the Company's distribution network. Selling and Administrative Expenses Selling and administrative expenses include all costs, not included in cost of sales, related to the sale and marketing of the Company's products and general administration of the Company's business. Operating Leases The Company determines if an arrangement is an operating lease or a financing lease at inception. A lease exists if the Company obtains substantially all of the economic benefits of, and has the right to control the use of, an asset for a period of time. Right-of-use assets represent the Company's right to use an underlying asset for the lease term, and lease liabilities represent the Company's obligation to make lease payments arising from the lease agreement. Lease assets and obligations are recognized at the lease commencement date based on the present value of lease payments over the term of the lease. Right-of-use assets may also be adjusted to reflect any prepayments made or any incentive payments received. Generally, the Company's leases do not provide a readily determinable implicit interest rate, therefore, the Company uses its incremental borrowing rate, which is based on information available at the lease commencement date, to determine the present value of lease payments. The Company has operating leases primarily for real estate and equipment used in manufacturing. Operating lease expense is recognized in continuing operations on a straight-line basis over the lease term within cost of sales and selling and administrative expenses. Financing lease expense is comprised of both interest expense, which is recognized using the effective interest method, and amortization of the right-of-use assets. These expenses are presented consistently with the presentation of other interest expense and amortization or depreciation of similar assets. In determining lease asset values, the Company considers fixed and variable payment terms, prepayments, incentives, and options to extend, terminate or purchase. Renewal, termination, or purchase options affect the lease term used for determining lease asset value only if the option is reasonably certain to be exercised. Stock-Based Compensation The Company recognizes compensation expense relating to stock-based payments based on the fair value of the equity or liability instrument issued. Restricted stock grants with pro-rata vesting are expensed using the straight-line method. (Terms of the Company's awards are specified in Note 17). The Company accounts for forfeitures when they actually occur. |
Recent Accounting Pronouncement
Recent Accounting Pronouncements (Notes) | 12 Months Ended |
Dec. 28, 2019 | |
Accounting Changes and Error Corrections [Abstract] | |
Recent Accounting Pronouncements | RECENT ACCOUNTING PRONOUNCEMENTS Accounting Standards Adopted in Fiscal 2019 In February 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2016-02, " Leases (Topic 842) ," which requires lessees to recognize on the Consolidated Balance Sheets right-of-use assets, representing the right to use the underlying asset for the lease term, and a lease liability for all leases with terms greater than 12 months. The guidance also requires qualitative and quantitative disclosures designed to assess the amount, timing, and uncertainty of cash flows arising from leases. In July 2018, the FASB issued ASU No. 2018-11, "Leases (Topic 842)" providing an optional transition method allowing entities to apply the new lease standard at the adoption date and recognize a cumulative effect adjustment in the period of adoption. The Company elected this transition method. The Company adopted the new standard effective December 30, 2018, the first day of the Company's fiscal year. Consistent with the optional transition method allowed as part of the modified retrospective transition approach provided in ASU No. 2018-11, the Company did not adjust comparative periods. The new standard applied to leases that have commenced as of the effective date, December 30, 2018, with a cumulative effect adjustment recorded as of that date. At adoption, the Company recorded Right-of-use assets of $9,401 and a corresponding liability of $9,842 . The Company also elected to apply the package of practical expedients allowed in ASC 842-10-65-1 whereby the Company need not reassess whether any expired or existing contracts are or contain leases, the Company need not reassess the lease classification for any expired or existing leases, and the Company need not reassess initial direct costs for any existing leases. The Company's adoption of the ASU resulted in the addition of Right of Use Assets on the Consolidated Balance Sheet for the right to use the underlying assets of operating leases. The Company did not elect to use hindsight for transition when considering judgments and estimates such as assessments of lessee options to extend or terminate a lease or purchase the underlying asset. In addition, the corresponding liability for the remaining balance of the operating leases is included in the liability section of the Consolidated Balance Sheet. For all asset classes, the Company elected to not recognize a right-of-use asset and lease liability for leases with a term of twelve months or less. The adoption of this ASU did not result in a material adjustment to the Consolidated Statements of Stockholders' Equity or the Consolidated Statements of Operations. In August 2017, the FASB issued ASU No. 2017-12, " Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities. " The amendments in this ASU update current guidance by more closely aligning the results of cash flow and fair value hedge accounting with risk management activities through changes to both the designation and measurement guidance for qualifying hedging relationships and the presentation of hedge results. ASU 2017-12 is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years, with early adoption permitted. The Company's adoption of this ASU did not have a significant impact on its consolidated financial statements. In October 2018, the FASB issued ASU 2018-16 , “Derivatives and Hedging (Topic 815) - Inclusion of the Secured Overnight Financing Rate ( " SOFR") Overnight Index Swap ("OIS") Rate as a Benchmark Interest Rate for Hedge Accounting Purposes.” This update permits the use of the OIS rate based on SOFR as a U.S. benchmark interest rate for hedge accounting purposes. For entities that have not already adopted Update 2017-12, the amendments in this Update are required to be adopted concurrently with the amendments in Update 2017-12. The Company's adoption of this ASU did not have a significant impact on its consolidated financial statements. Accounting Standards Yet to Be Adopted In June 2016, the FASB issued ASU No. 2016-13, " Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments," which amends the impairment model to utilize an expected loss methodology in place of the current incurred loss methodology, which will result in the more timely recognition of losses. For public entities, ASU 2016-13 is effective for annual periods beginning after December 15, 2019, including interim periods within those fiscal years. The Company does not believe the adoption of this ASU, including the subsequently issued codification improvements update (" Codification Improvements to Topic 326, Financial Instruments—Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments ," ASU 2019-04) and the targeted transition relief update (" Financial Instruments-Credit Losses (Topic 326 )," ASU 2019-05), will have a significant impact on the consolidated financial statements due to the nature of the Company's customers and the limited amount of write-offs in past years. In August 2018, the FASB issued ASU 2018-13, “ Fair Value Measurement (Topic 820) - Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement .” This update is a part of FASB’s disclosure framework project to improve the effectiveness of disclosures in the notes to financial statements. The amendments in this update remove, modify, and add certain disclosure requirements within Topic 820. This standard is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. Early adoption is permitted upon issuance of this update and an entity is permitted to early adopt any removed or modified disclosures upon issuance of this update and delay adoption of the additional disclosures until the effective date. Certain disclosure amendments are to be applied prospectively for only the most recent interim or annual period presented, while other amendments are to be applied retrospectively to all periods presented. The Company does not believe that the adoption of this ASU will have a significant impact on its consolidated financial statements. In August 2018, the FASB issued ASU 2018-14, “ Compensation - Retirement Benefits - Defined Benefit Plans - General (Subtopic 715-20) - Disclosure Framework - Changes to the Disclosure Requirements for Defined Benefit Plans.” This update is a part of FASB’s disclosure framework project to improve the effectiveness of disclosures in the notes to financial statements. The amendments in this update modify the disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans. This standard is effective for fiscal years ending after December 15, 2020 and early adoption is permitted. Upon adoption, this update is to be applied on a retrospective basis to all periods presented. The Company does not believe that the adoption of this ASU will have a significant impact on its consolidated financial statements. |
Revenue (Notes)
Revenue (Notes) | 12 Months Ended |
Dec. 28, 2019 | |
Revenue from Contract with Customer [Abstract] | |
Revenue | REVENUE Disaggregation of Revenue from Contracts with Customers The following table disaggregates the Company’s revenue by end-user markets for the years ended December 28, 2019, December 29, 2018, and December 30, 2017: 2019 2018 2017 Residential floorcovering products $ 268,186 $ 289,129 $ 279,038 Commercial floorcovering products 103,286 113,971 131,372 Other services 3,110 1,933 2,052 Total net sales $ 374,582 $ 405,033 $ 412,462 Residential floorcovering products. Residential floorcovering products include broadloom carpet, rugs, luxury vinyl flooring and engineered hardwood. These products are sold into the designer, retailer, mass merchant and builder markets. Commercial floorcovering products. Commercial floorcovering products include broadloom carpet, carpet tile, rugs, and luxury vinyl flooring. These products are sold into the corporate, hospitality, healthcare, government, and education markets through the use of designers and architects. Other services. Other services include carpet yarn processing and carpet dyeing services. Contract Balances The Company often receives cash payments from customers in advance of the Company’s performance for limited production run orders resulting in contract liabilities. These contract liabilities are classified in accrued expenses in the Consolidated Balance Sheets based on the timing of when the Company expects to recognize revenue, which is typically less than a year. The net decrease or increase in the contract liabilities is primarily driven by order activity for limited runs requiring deposits offset by the recognition of revenue and application of deposit on the receivables ledger for such activity during the period. The activity in the advanced deposits for the year ended December 28, 2019, December 29, 2018, and December 30, 2017 is as follows: 2019 2018 2017 Beginning contract liability $ 6,013 $ 5,717 $ 8,212 Revenue recognized from contract liabilities included in the beginning balance (5,873 ) (5,717 ) (7,820 ) Increases due to cash received, net of amounts recognized in revenue during the period 4,545 6,013 5,325 Ending contract liability $ 4,685 $ 6,013 $ 5,717 |
Receivables, Net
Receivables, Net | 12 Months Ended |
Dec. 28, 2019 | |
Receivables [Abstract] | |
Receivables, Net | RECEIVABLES, NET Receivables are summarized as follows: 2019 2018 Customers, trade $ 34,285 $ 40,121 Other receivables 3,115 2,595 Gross receivables 37,400 42,716 Less: allowance for doubtful accounts (262 ) (174 ) Receivables, net $ 37,138 $ 42,542 Bad debt expense was $240 in 2019, $163 in 2018, and $70 in 2017. |
Inventories, Net
Inventories, Net | 12 Months Ended |
Dec. 28, 2019 | |
Inventory Disclosure [Abstract] | |
Inventories, Net | INVENTORIES, NET Inventories are summarized as follows: 2019 2018 Raw materials $ 32,377 $ 36,875 Work-in-process 18,642 20,274 Finished goods 64,978 67,085 Supplies and other 260 190 LIFO reserve (20,748 ) (19,229 ) Inventories, net $ 95,509 $ 105,195 In March 2019, the Company incurred an inventory liquidation due to a consignment agreement with a primary vendor of raw materials. The former inventory levels are not expected to be reinstated. The Company recognized the effect within 2019 which resulted in liquidations of LIFO inventories carried at prevailing costs established in prior years and reduced cost of sales by $281 . |
Property, Plant and Equipment,
Property, Plant and Equipment, Net | 12 Months Ended |
Dec. 28, 2019 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment, Net | PROPERTY, PLANT AND EQUIPMENT, NET Property, plant and equipment consists of the following: 2019 2018 Land and improvements $ 3,422 $ 8,528 Buildings and improvements 51,432 63,389 Machinery and equipment 179,993 183,900 Assets under construction 1,459 2,675 236,306 258,492 Accumulated depreciation (170,864 ) (174,381 ) Property, plant and equipment, net $ 65,442 $ 84,111 Depreciation of property, plant and equipment, including amounts for finance leases, totaled $11,219 in 2019, $12,141 in 2018 and $12,436 in 2017. |
Goodwill and Other Intangible A
Goodwill and Other Intangible Assets | 12 Months Ended |
Dec. 28, 2019 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Other Intangible Assets | GOODWILL AND OTHER INTANGIBLE ASSETS The carrying amount of goodwill is $0 as of December 28, 2019 and December 29, 2018, respectively. The Company performed its annual assessment of goodwill in the fourth quarters of 2018 and 2017 with no impairment indicated in 2017. At the end of 2018, it was determined that the carrying value was greater than calculated fair value. Also at the end of 2018, the intangibles were determined to not be recoverable based on revised projections. Impairment costs incurred are classified as "impairment of assets" in the Company's Consolidated Statements of Operations. The following table represents the details of the Company's intangible assets that were subject to amortization during 2018: 2018 Gross Accumulated Amortization Impairment Net Customer relationships $ 208 $ (96 ) $ (112 ) $ — Rug design coding 144 (86 ) (58 ) — Trade names 3,300 (1,314 ) (1,986 ) — Total $ 3,652 $ (1,496 ) $ (2,156 ) $ — Amortization expense for intangible assets is summarized as follows: 2019 2018 2017 Customer relationships $ — $ 16 $ 16 Rug design coding — 14 15 Trade names — 275 275 Amortization expense $ — $ 305 $ 306 |
Accrued Expenses
Accrued Expenses | 12 Months Ended |
Dec. 28, 2019 | |
Payables and Accruals [Abstract] | |
Accrued Expenses | ACCRUED EXPENSES Accrued expenses are summarized as follows: 2019 2018 Compensation and benefits (1) $ 8,804 $ 8,186 Provision for customer rebates, claims and allowances 7,682 9,300 Advanced customer deposits 4,685 6,013 Outstanding checks in excess of cash — 3,141 Other 4,247 4,212 Accrued expenses $ 25,418 $ 30,852 (1) Includes a liability related to the Company's self-insured Workers' Compensation program. This program is collateralized by letters of credit in the aggregate amount of $2,744 . |
Product Warranty Reserves
Product Warranty Reserves | 12 Months Ended |
Dec. 28, 2019 | |
Product Warranties Disclosures [Abstract] | |
Product Warranty Reserves | PRODUCT WARRANTY RESERVES The Company generally provides product warranties related to manufacturing defects and specific performance standards for its products. Product warranty reserves are included in accrued expenses in the Company's Consolidated Balance Sheets. The following is a summary of the Company's product warranty activity: 2019 2018 Product warranty reserve at beginning of period $ 1,069 $ 1,173 Warranty liabilities accrued 1,667 2,341 Warranty liabilities settled (1,695 ) (2,380 ) Changes for pre-existing warranty liabilities (39 ) (65 ) Product warranty reserve at end of period $ 1,002 $ 1,069 |
Long-Term Debt and Credit Arran
Long-Term Debt and Credit Arrangements | 12 Months Ended |
Dec. 28, 2019 | |
Debt Disclosure [Abstract] | |
Long-Term Debt and Credit Arrangements | LONG-TERM DEBT AND CREDIT ARRANGEMENTS Long-term debt consists of the following: 2019 2018 Revolving credit facility $ 59,693 $ 99,219 Notes payable - buildings 6,213 11,688 Notes payable - equipment and other 3,533 5,528 Finance lease - buildings 11,296 — Finance lease obligations 8,187 12,096 Deferred financing costs, net (571 ) (486 ) Total long-term debt 88,351 128,045 Less: current portion of long-term debt 6,684 7,794 Long-term debt $ 81,667 $ 120,251 Revolving Credit Facility During the fourth quarter, the Company amended its credit agreement with Wells Fargo Capital Finance to reduce the size of the Senior Credit Facility from $150,000 to $120,000 and adjust the availability limitation related to the fixed coverage ratio from $16,500 to $15,000 upon closing of the sale lease back of the Susan Street property. The changes to the credit facility were implemented by the twelfth and thirteenth amendments to the credit agreement, effective October 3, 2019 and October 22, 2019, respectively. These amendments were intended to permit the sale and leaseback of the Company's Susan Street Facility and, upon completion of the sale, to adjust the credit agreement's borrowing base. The borrowing base is currently equal to specified percentages of the Company's eligible accounts receivable, inventories, fixed assets and real property less reserves established, from time to time, by the administrative agent under the facility. The revolving credit facility matures on September 23, 2021. The revolving credit facility is secured by a first priority lien on substantially all of the Company's assets. At the Company's election, advances of the revolving credit facility bear interest at annual rates equal to either (a) LIBOR for 1, 2 or 3 month periods, as selected by the Company, plus an applicable margin ranging between 1.50% and 2.00% , or (b) the higher of the prime rate, the Federal Funds rate plus 0.5% , or a daily LIBOR rate plus 1.00% , plus an applicable margin ranging between 0.50% and 1.00% . The applicable margin is determined based on availability under the revolving credit facility with margins increasing as availability decreases. As of December 28, 2019, the applicable margin on our revolving credit facility was 1.75% . The Company pays an unused line fee on the average amount by which the aggregate commitments exceed utilization of the revolving credit facility equal to 0.375% per annum. The weighted-average interest rate on borrowings outstanding under the revolving credit facility was 4.79% at December 28, 2019 and 4.58% at December 29, 2018. The revolving credit facility includes certain affirmative and negative covenants that impose restrictions on the Company's financial and business operations. The revolving credit facility restricts the Company's borrowing availability if its fixed charge coverage ratio is less than 1.1 to 1.0. During any period that the fixed charge coverage ratio is less than 1.1 to 1.0, the Company's borrowing availability is reduced by $15,000 . As part of Amendment Thirteen to the credit agreement an additional availability block of $5,000 was established to be reduced upon reaching a specially defined fixed charge coverage ratio of 1.1 to 1.0 for a consecutive period of 3 months or 6 months. Contingent upon reaching the desired fixed coverage ratio, the availability block will reduce to $2,500 when the three-month threshold is reached and $0 once reaching the six-month threshold. Amendment Thirteen also adjusted the size of the restricted borrowing availability that is triggered when the fixed charge coverage ratio is less than 1.1 to 1.0. As of December 28, 2019, the unused borrowing availability under the revolving credit facility was $33,787 ; however, since the Company's fixed charge coverage ratio was less than 1.1 to 1.0, the unused availability accessible by the Company was $18,787 (the amount above $15,000 ) at December 28, 2019. Availability under the credit agreement will vary based on seasonal business factors and periodic changes to the qualified asset base, which consists of accounts receivable, inventories and fixed assets. Notes Payable - Buildings On November 7, 2014, the Company entered into a ten-year $8,330 note payable to purchase a previously leased distribution center in Adairsville, Georgia. The note payable is scheduled to mature on November 7, 2024 and is secured by the distribution center. The note payable bears interest at a variable rate equal to one-month LIBOR plus 2.0% and is payable in equal monthly installments of principal of $35 , plus interest calculated on the declining balance of the note, with a final payment of $4,165 due on maturity. In addition, the Company entered into an interest rate swap with an amortizing notional amount effective November 7, 2014 which effectively fixes the interest rate at 4.50% . Notes Payable - Equipment and Other The Company's equipment financing notes have terms ranging from 1 to 7 years, bear interest ranging from 1.00% to 7.68% and are due in monthly installments through their maturity dates. The Company's equipment financing notes are secured by the specific equipment financed and do not contain any financial covenants. Finance Lease - Buildings On January 14, 2019, the Company, entered into a purchase and sale agreement (the “Purchase and Sale Agreement”) with Saraland Industrial, LLC, an Alabama limited liability company (the “Purchaser”). Pursuant to the terms of the Purchase and Sale Agreement, the Company sold its Saraland facility, and approximately 17.12 acres of surrounding property located in Saraland, Alabama (the “Property”) to the Purchaser for a purchase price of $11,500 . Concurrent with the sale of the Property, the Company and the Purchaser entered into a twenty -year lease agreement (the “Lease Agreement”), whereby the Company will lease back the Property at an annual rental rate of $977 , subject to annual rent increases of 1.25% . Under the Lease Agreement, the Company has two (2) consecutive options to extend the term of the Lease by ten years for each such option. This transaction was recorded as a failed sale and leaseback as the present value of lease payments exceeded 90% of its fair value. The Company recorded a liability for the amounts received, will continue to depreciate the asset, and has imputed an interest rate so that the net carrying amount of the financial liability and remaining assets will be zero at the end of the lease term. Concurrently with the sale, the Company paid off the approximately $5,000 mortgage on the property to First Tennessee Bank National Association and terminated the related fixed interest rate swap agreement. Finance Lease Obligations The Company's capitalized lease obligations have terms ranging from 3 to 7 years, bear interest ranging from 3.55% to 7.76% and are due in monthly or quarterly installments through their maturity dates. The Company's capital lease obligations are secured by the specific equipment leased. Interest Payments and Debt Maturities Cash paid for interest for continuing operations was $6,303 in 2019, $6,290 in 2018, and $5,373 in 2017. These amounts include cash paid for financing leases of $1,378 in 2019, $791 in 2018, and $611 in 2017. Maturities of long-term debt for periods following December 28, 2019 are as follows: Long-Term Debt Finance Leases (See Note 11) Total 2020 $ 2,673 $ 4,011 $ 6,684 2021 61,116 3,392 64,508 2022 687 1,209 1,896 2023 416 535 951 2024 382 322 704 Thereafter 4,165 10,014 14,179 Total maturities of long-term debt $ 69,439 $ 19,483 $ 88,922 Deferred financing costs, net (571 ) — (571 ) Total long-term debt $ 68,868 $ 19,483 $ 88,351 |
Leases
Leases | 12 Months Ended |
Dec. 28, 2019 | |
Leases [Abstract] | |
Leases | LEASES Balance sheet information related to right-of-use assets and liabilities is as follows: Balance Sheet Location December 28, 2019 Operating Leases: Operating lease right-of-use assets Operating lease right-of-use assets $ 24,835 Current portion of operating lease liabilities Current portion of operating lease liabilities 3,172 Noncurrent portion of operating lease liabilities Operating lease liabilities 22,123 Total operating lease liabilities $ 25,295 Finance Leases: Finance lease right-of-use assets Property, plant, and equipment, net $ 15,152 Current portion of finance lease liabilities Current portion of long-term debt 4,011 Noncurrent portion of finance lease liabilities Long-term debt 15,472 $ 19,483 Lease cost recognized in the consolidated financial statements is summarized as follows: December 28, 2019 Operating lease cost $ 3,528 Finance lease cost: Amortization of lease assets 3,000 Interest on lease liabilities 1,378 Total finance lease costs $ 4,378 Other supplemental information related to leases is summarized as follows: December 28, 2019 Weighted average remaining lease term (in years): Operating leases 8.42 Finance leases 12.03 Weighted average discount rate: Operating leases 6.98 % Finance leases 6.72 % Cash paid for amounts included in the measurement of lease liabilities for the twelve months ended December 28, 2019: Operating cash flows from operating leases 3,518 Operating cash flows from finance leases 1,378 Financing cash flows from finance leases 4,166 The following table summarizes the Company's undiscounted future minimum lease payments under non-cancellable contractual obligations for operating and financing liabilities as of December 28, 2019: Fiscal Year Operating Leases Finance Leases 2020 4,833 5,207 2021 4,455 4,347 2022 4,062 2,015 2023 3,190 1,283 2024 2,883 1,042 Thereafter 14,465 16,041 Total future minimum lease payments (undiscounted) 33,888 29,935 Less: Present value discount (8,593 ) (10,452 ) Total lease liability 25,295 19,483 On October 22, 2019, the Company sold its Susan Street facility in Santa Ana, California to CenterPoint Properties Trust. The sale price was $37,195 . The gain on the sale transaction was $25,121 . The transaction was accounted for as a successful sale-leaseback. Concurrent with the sale of the Susan Street facility, the Company (by a wholly-owned subsidiary) entered into an operating lease to lease back the property for a term of 10 years with two 5 year renewal options. The initial annual rental is $2,083 increasing at 2% per year for the term of the lease. The lease requires the landlord to make certain required capital improvements, at no further rental increase or charge to the Company. The Company is responsible for normal maintenance of the building and facilities. The company concurrently executed a lease guaranty, pursuant to which it guaranteed the prompt payment when due of all rent payments to be made under the lease agreement. Commitments for minimum rentals under non-cancelable leases, including any applicable rent escalation clauses, were as follows under Topic 840 for 2018: Capital Leases Operating Leases 2019 $ 4,590 $ 3,002 2020 4,205 2,533 2021 3,333 2,121 2022 989 1,667 2023 244 882 Thereafter — 3,155 Total commitments 13,361 13,360 Less amounts representing interest (1,265 ) — Total $ 12,096 $ 13,360 Rental expense was approximately $4,453 and $3,687 during 2018 and 2017 , respectively. |
Fair Value Measurements
Fair Value Measurements | 12 Months Ended |
Dec. 28, 2019 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | FAIR VALUE MEASUREMENTS Fair value is defined as the exchange value of an asset or a liability in an orderly transaction between market participants. The fair value guidance outlines a valuation framework and establishes a fair value hierarchy in order to increase the consistency and comparability of fair value measurements and disclosures. The hierarchy consists of three levels as follows: Level 1 - Quoted market prices in active markets for identical assets or liabilities as of the reported date; Level 2 - Other than quoted market prices in active markets for identical assets or liabilities, quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, and other than quoted prices for assets or liabilities and prices that are derived principally from or corroborated by market data by correlation or other means; and Level 3 - Measurements using management's best estimate of fair value, where the determination of fair value requires significant management judgment or estimation. The following table reflects the fair values of assets and liabilities measured and recognized at fair value on a recurring basis on the Company's Consolidated Balance Sheets as of December 28, 2019 and December 29, 2018: 2019 2018 Fair Value Hierarchy Level Assets: Interest rate swaps (1) $ — $ 36 Level 2 Liabilities: Interest rate swaps (1) $ 1,653 $ 1,008 Level 2 (1) The Company uses certain external sources in deriving the fair value of the interest rate swaps. The interest rate swaps were valued using observable inputs (e.g., LIBOR yield curves, credit spreads). Valuations of interest rate swaps may fluctuate considerably from period-to-period due to volatility in underlying interest rates, which are driven by market conditions and the duration of the instrument. Credit adjustments could have a significant impact on the valuations due to changes in credit ratings of the Company or its counterparties. Changes in the fair value measurements using significant unobservable inputs (Level 3) during the years ending December 28, 2019 and December 29, 2018 were as follows: 2019 2018 Beginning balance $ — $ 25 Fair value adjustments — 1 Settlements — (26 ) Ending balance $ — $ — There were no transfers of assets or liabilities between Level 1, Level 2 and Level 3 during 2019 or 2018 . If any, the Company recognizes the transfers in or transfers out at the end of the reporting period. The carrying amounts and estimated fair values of the Company's financial instruments are summarized as follows: 2019 2018 Carrying Fair Carrying Fair Amount Value Amount Value Financial assets: Cash and cash equivalents $ 769 $ 769 $ 18 $ 18 Notes receivable, including current portion — — 282 282 Interest rate swaps — — 36 36 Financial liabilities: Long-term debt, including current portion 68,868 72,115 115,949 112,519 Finance leases, including current portion 19,483 20,361 12,096 11,723 Operating leases, including current portion 25,295 25,295 — — Interest rate swaps 1,653 1,653 1,008 1,008 The fair values of the Company's long-term debt and finance leases were estimated using market rates the Company believes would be available for similar types of financial instruments and represent level 2 measurements. The fair values of cash and cash equivalents and notes receivable approximate their carrying amounts due to the short-term nature of the financial instruments. |
Derivatives
Derivatives | 12 Months Ended |
Dec. 28, 2019 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivatives | DERIVATIVES The Company's earnings, cash flows and financial position are exposed to market risks relating to interest rates. It is the Company's policy to minimize its exposure to adverse changes in interest rates and manage interest rate risks inherent in funding the Company with debt. The Company addresses this risk by maintaining a mix of fixed and floating rate debt and entering into interest rate swaps for a portion of its variable rate debt to minimize interest rate volatility. The following is a summary of the Company's interest rate swaps as of December 28, 2019 : Type Notional Amount Effective Date Fixed Rate Variable Rate Interest rate swap $ 25,000 September 1, 2016 through September 1, 2021 3.105% 1 Month LIBOR Interest rate swap $ 25,000 September 1, 2015 through September 1, 2021 3.304% 1 Month LIBOR Interest rate swap $ 6,213 (1) November 7, 2014 through November 7, 2024 4.500% 1 Month LIBOR (1) Interest rate swap notional amount amortizes by $35 monthly to maturity. The following table summarizes the fair values of derivative instruments included in the Company's Consolidated Balance Sheets: Location on Consolidated Balance Sheets Fair Value 2019 2018 Asset Derivatives: Derivatives designated as hedging instruments: Interest rate swaps - current portion Prepaids and other current assets $ — $ 14 Interest rate swaps - long-term portion Other Assets — 22 Total Asset Derivatives $ — $ 36 Liability Derivatives: Derivatives designated as hedging instruments: Interest rate swaps, current portion Accrued Expenses $ 841 $ 335 Interest rate swaps, long-term portion Other Long-Term Liabilities 812 673 Total Liability Derivatives $ 1,653 $ 1,008 The following tables summarize the pre-tax impact of derivative instruments on the Company's consolidated financial statements: Amount of Gain or (Loss) Recognized in AOCIL on the effective portion of the Derivative 2019 2018 2017 Derivatives designated as hedging instruments: Cash flow hedges - interest rate swaps $ (1,109 ) $ 531 $ 180 Amount of Gain or (Loss) Reclassified from AOCIL on the effective portion into Income (1)(2) 2019 2018 2017 Derivatives designated as hedging instruments: Cash flow hedges - interest rate swaps $ (454 ) $ (673 ) $ (1,250 ) (1) The amount of gain (loss) reclassified from AOCIL is included in interest expense on the Company's Consolidated Statements of Operations. (2) The amount of loss expected to be reclassified from AOCIL into earnings during the next 12 months subsequent to fiscal 2019 is $841 . The amount of gain (loss) recognized in income on the ineffective portion of interest rate swaps, if any, is included in other (income) expense, net on the Company's Consolidated Statements of Operations. There was no ineffective portion for the periods presented. |
Employee Benefit Plans
Employee Benefit Plans | 12 Months Ended |
Dec. 28, 2019 | |
Defined Benefit Plan [Abstract] | |
Employee Benefit Plans | EMPLOYEE BENEFIT PLANS Defined Contribution Plans The Company sponsors a 401(k) defined contribution plan that covers a significant portion, or approximately 85% of the Company's associates. This plan includes a mandatory Company match on the first 1% of participants' contributions. The Company matches the next 2% of participants' contributions if the Company meets prescribed earnings levels. The plan also provides for additional Company contributions above the 3% level if the Company attains certain additional performance targets. Matching contribution expense for this 401(k) plan was $418 in 2019 , $448 in 2018 and $484 in 2017 . Additionally, the Company sponsors a 401(k) defined contribution plan that covers those associates at one facility who are under a collective-bargaining agreement, or approximately 15% of the Company's associates. Under this plan, the Company generally matches participants' contributions, on a sliding scale, up to a maximum of 2.75% of the participant's earnings. Matching contribution expense for the collective-bargaining 401(k) plan was $143 in 2019 , $123 in 2018 and $125 in 2017 . Non-Qualified Retirement Savings Plan The Company sponsors a non-qualified retirement savings plan that allows eligible associates to defer a specified percentage of their compensation. The obligations owed to participants under this plan were $16,203 at December 28, 2019 and $13,943 at December 29, 2018 and are included in other long-term liabilities in the Company's Consolidated Balance Sheets. The obligations are unsecured general obligations of the Company and the participants have no right, interest or claim in the assets of the Company, except as unsecured general creditors. The Company utilizes a Rabbi Trust to hold, invest and reinvest deferrals and contributions under the plan. Amounts are invested in Company-owned life insurance in the Rabbi Trust and the cash surrender value of the policies was $16,500 at December 28, 2019 and $13,822 at December 29, 2018 and is included in other assets in the Company's Consolidated Balance Sheets. Multi-Employer Pension Plan The Company contributes to a multi-employer pension plan under the terms of a collective-bargaining agreement that covers its union-represented employees. These union-represented employees represented approximately 15% of the Company's total employees. The risks of participating in multi-employer plans are different from single-employer plans. If a participating employer stops contributing to the plan, the unfunded obligations of the plan may be borne by the remaining participating employers. If the Company chooses to stop participating in the multi-employer plan, the Company may be required to pay the plan an amount based on the underfunded status of the plan, referred to as a withdrawal liability. The Company's participation in the multi-employer pension plan for 2019 is provided in the table below. The "EIN/Pension Plan Number" column provides the Employee Identification Number (EIN) and the three digit plan number. The most recent Pension Protection Act (PPA) zone status available in 2019 and 2018 is for the plan's year-end at 2018 and 2017 , respectively. The zone status is based on information that the Company received from the plan and is certified by the plan's actuary. Among other factors, plans in the red zone are generally less than 65% funded, plans in the yellow zone are less than 80% funded and plans in the green zone are at least 80% funded. The "FIP/RP Status Pending/Implemented" column indicates a plan for which a financial improvement plan (FIP) or a rehabilitation plan (RP) is either pending or has been implemented. The last column lists the expiration date of the collective-bargaining agreement to which the plan is subject. Pension Fund EIN/Pension Plan Number Pension Protection Act Zone Status FIP/RP Status Pending/Implemented (1) Contributions (2) Surcharge Imposed (1) Expiration Date of Collective-Bargaining Agreement 2019 2018 2019 2018 2017 The Pension Plan of the National Retirement Fund 13-6130178 - 001 Red Red Implemented $ 335 $ 320 $ 313 Yes 6/4/2022 (1) The collective-bargaining agreement requires the Company to contribute to the plan at the rate of $0.47 per compensated hour for each covered employee. The Company will make additional contributions, as mandated by law, in accordance with the fund's 2010 Rehabilitation Plan which required a surcharge equal to $0.03 per hour (from $0.47 to $0.50) effective June 1, 2014 to May 31, 2015, a surcharge equal to $0.03 per hour (from $0.50 to $0.53) effective June 1, 2015 to May 31, 2016, a surcharge equal to $0.02 per hour (from $0.53 to $0.55) effective June 1, 2016 to May 31, 2017, a surcharge equal to $0.03 per hour (from $0.55 to $0.58) effective June 1, 2017 to May 31, 2018, a surcharge equal to $0.02 per hour (from $0.58 to $0.60) effective June 1, 2018 to May 31, 2019, and a surcharge equal to $0.03 per hour (from $0.60 to $0.63) effective June 1, 2019 to May 31, 2020. Based upon current employment and benefit levels, the Company's contributions to the multi-employer pension plan are expected to be approximately $342 for 2020. (2) The Company's contributions to the plan do not represent more than 5% of the total contributions to the plan for the most recent plan year available. Postretirement Plans The Company sponsors a postretirement benefit plan that provides life insurance to a limited number of associates upon retirement as part of a collective bargaining agreement. Information about the benefit obligation and funded status of the Company's postretirement benefit plan is summarized as follows: 2019 2018 Change in benefit obligation: Benefit obligation at beginning of year $ 331 $ 325 Service cost 7 8 Interest cost 17 17 Actuarial (gain) loss 6 (18 ) Benefits paid (1 ) (1 ) Benefit obligation at end of year 360 331 Change in plan assets: Fair value of plan assets at beginning of year — — Employer contributions 1 1 Benefits paid (1 ) (1 ) Fair value of plan assets at end of year — — Unfunded amount $ (360 ) $ (331 ) The balance sheet classification of the Company's liability for the postretirement benefit plan is summarized as follows: 2019 2018 Accrued expenses $ 16 $ 15 Other long-term liabilities 344 316 Total liability $ 360 $ 331 Benefits expected to be paid on behalf of associates for the postretirement benefit plan during the period 2020 through 2029 are summarized as follows: Years Postretirement Plan 2020 $ 16 2021 15 2022 15 2023 14 2024 14 2025 - 2029 75 Assumptions used to determine the benefit obligation of the Company's postretirement benefit plan are summarized as follows: 2019 2018 Weighted-average assumptions as of year-end: Discount rate (benefit obligation) 3.50 % 4.00 % Components of net periodic benefit cost (credit) for the postretirement plan are summarized as follows: 2019 2018 2017 Service cost $ 7 $ 8 $ 7 Interest cost 17 17 16 Amortization of prior service credits (3 ) (4 ) (4 ) Recognized net actuarial gains (27 ) (28 ) (30 ) Net periodic benefit cost (credit) $ (6 ) $ (7 ) $ (11 ) Pre-tax amounts included in AOCIL for the Company's postretirement benefit plan at 2019 are summarized as follows: Postretirement Benefit Plan Balance at 2019 2020 Expected Amortization Prior service credits $ — $ (3 ) Unrecognized actuarial gains (339 ) (27 ) Totals $ (339 ) $ (30 ) |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 28, 2019 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | INCOME TAXES The provision (benefit) for income taxes on income (loss) from continuing operations consists of the following: 2019 2018 2017 Current Federal $ (287 ) $ (178 ) $ 278 State 107 (116 ) (950 ) Total current (180 ) (294 ) (672 ) Deferred Federal (385 ) (434 ) 7,535 State (92 ) (103 ) 646 Total deferred (477 ) (537 ) 8,181 Income tax provision (benefit) $ (657 ) $ (831 ) $ 7,509 Differences between the provision (benefit) for income taxes and the amount computed by applying the statutory federal income tax rate to income (loss) from continuing operations before taxes are summarized as follows: 2019 2018 2017 Federal statutory rate 21 % 21 % 35 % Statutory rate applied to income (loss) from continuing operations before taxes $ 3,142 $ (4,685 ) $ (635 ) Plus state income taxes, net of federal tax effect 12 (173 ) (198 ) Total statutory provision (benefit) 3,154 (4,858 ) (833 ) Effect of differences: Nondeductible meals and entertainment 77 90 161 Executive compensation limitation — 258 — Federal tax credits (545 ) (286 ) (200 ) Reserve for uncertain tax positions 39 27 8 Change in valuation allowance (3,400 ) 3,990 6,470 Tax reform — — 1,749 Stock-based compensation 86 82 146 Other items (68 ) (134 ) 8 Income tax provision (benefit) $ (657 ) $ (831 ) $ 7,509 On December 22, 2017, the President signed the Tax Cuts and Jobs Act (the “Tax Act”). The Tax Act, among other things, lowered the U.S. corporate income tax rate from 35% to 21% effective January 1, 2018. The Company substantially completed its provisional analysis of the income tax effects of the Tax Act and recorded a reasonable estimate of such effects during the fourth quarter of 2017. Pursuant to Staff Accounting Bulletin No. 118, the Company has completed its analysis and all adjustments have been included in income from continuing operations as an adjustment to income tax expense. The income tax benefit for the twelve months ended December 28, 2019 was $ 657 compared with an income tax benefit of $831 for the twelve months ended December 29, 2018. During the fourth quarter of 2017, the Company recorded a full valuation allowance against the deferred tax assets resulting in only refundable credits, a small amount of state taxes, and benefits for the reduction of certain indefinite lived assets not covered by the Company's valuation allowance being recognized in the tax benefit for 2018 and 2019. The Company is in a net deferred tax liability position of $ 91 and $568 at December 28, 2019 and December 29, 2018, respectively. These amounts are included in other long-term liabilities in the Company's Consolidated Balance Sheets. The income tax expense for 2017 was $7,509 , which included a charge of $1,749 related to the re-measurement of certain net deferred tax assets using the lower U.S. corporate income tax rate and a charge of $6,420 to increase the Company's valuation allowance related to its net deferred tax asset. The majority of the increase in the valuation allowance was related to the revised treatment of net operating losses under the Tax Act. Absent the impact of the Tax Act, the effective income tax benefit rate for 2017 would have been 36.4% . Income tax payments, net of (income tax refunds) received for continuing and discontinued operations were $128 in 2019, $20 in 2018 and $44 in 2017. Significant components of the Company's deferred tax assets and liabilities are as follows: 2019 2018 Deferred tax assets: Inventories $ 3,336 $ 4,128 Retirement benefits 1,394 1,718 State net operating losses 3,362 4,142 Federal net operating losses 715 4,560 State tax credit carryforwards 1,688 1,688 Federal tax credit carryforwards 4,282 3,721 Allowances for bad debts, claims and discounts 1,978 2,199 Other 4,039 5,646 Total deferred tax assets 20,794 27,802 Valuation allowance (13,264 ) (16,993 ) Net deferred tax assets 7,530 10,809 Deferred tax liabilities: Property, plant and equipment 7,621 11,377 Total deferred tax liabilities 7,621 11,377 Net deferred tax liability $ (91 ) $ (568 ) At December 28, 2019, $715 of deferred tax assets related to approximately $3,404 of federal net operating loss carryforwards and $3,362 of deferred tax assets related to approximately $63,244 of state net operating loss carryforwards. In addition, $4,282 of federal tax credit carryforwards and $1,688 of state tax credit carryforwards were available to the Company. The federal tax credit carryforwards will expire between 2029 and 2040 . The federal net operating loss carryforwards generated in 2018 have no expiration. The state net operating loss carryforwards and the state tax credit carryforwards will expire between 2019 and 2040 . A valuation allowance of $13,264 is recorded to reflect the estimated amount of deferred tax assets that may not be realized during the carryforward periods. At December 28, 2019, the Company is in a net deferred tax liability position of $91 which is included in other long-term liabilities in the Company's Consolidated Balance Sheets. Tax Uncertainties The Company accounts for uncertainty in income tax positions according to FASB guidance relating to uncertain tax positions. Unrecognized tax benefits were $480 at December 28, 2019, $441 at December 29, 2018, and $414 at December 30, 2017. Such benefits, if recognized, would affect the Company's effective tax rate. There were no significant interest or penalties accrued as of December 28, 2019, December 29, 2018, or December 30, 2017. The following is a summary of the change in the Company's unrecognized tax benefits: 2019 2018 2017 Balance at beginning of year $ 441 $ 414 $ 406 Additions based on tax positions taken during a current period 39 27 8 Reductions related to settlement of tax matters — — — Balance at end of year $ 480 $ 441 $ 414 The Company and its subsidiaries are subject to United States federal income taxes, as well as income taxes in a number of state jurisdictions. The tax years subsequent to 2015 remain open to examination for U.S. federal income taxes. The majority of state jurisdictions remain open for tax years subsequent to 2015. A few state jurisdictions remain open to examination for tax years subsequent to 2014. |
Common Stock and Earnings (Loss
Common Stock and Earnings (Loss) Per Share | 12 Months Ended |
Dec. 28, 2019 | |
Earnings Per Share, Basic and Diluted [Abstract] | |
Common Stock and Earnings (Loss) Per Share | COMMON STOCK AND EARNINGS (LOSS) PER SHARE Common & Preferred Stock The Company's charter authorizes 80,000,000 shares of Common Stock with a $3 par value per share and 16,000,000 shares of Class B Common Stock with a $3 par value per share. Holders of Class B Common Stock have the right to twenty votes per share on matters that are submitted to Shareholders for approval and to dividends in an amount not greater than dividends declared and paid on Common Stock. Class B Common Stock is restricted as to transferability and may be converted into Common Stock on a one share for one share basis. The Company's charter also authorizes 200,000,000 shares of Class C Common Stock, $3 par value per share, and 16,000,000 shares of Preferred Stock. No shares of Class C Common Stock or Preferred Stock have been issued. Earnings (Loss) Per Share The Company's unvested stock awards that contain non-forfeitable rights to dividends or dividend equivalents, whether paid or unpaid, are considered participating securities and are included in the computation of earnings per share. The accounting guidance requires additional disclosure of EPS for common stock and unvested share-based payment awards, separately disclosing distributed and undistributed earnings. Undistributed earnings represent earnings that were available for distribution but were not distributed. Common stock and unvested share-based payment awards earn dividends equally. All earnings were undistributed in all periods presented. The following table sets forth the computation of basic and diluted earnings (loss) per share from continuing operations: 2019 2018 2017 Basic earnings (loss) per share: Income (loss) from continuing operations $ 15,619 $ (21,479 ) $ (9,322 ) Less: Allocation of earnings to participating securities (468 ) — — Income (loss) from continuing operations available to common shareholders - basic $ 15,151 $ (21,479 ) $ (9,322 ) Basic weighted-average shares outstanding (1) 15,822 15,764 15,699 Basic earnings (loss) per share - continuing operations $ 0.96 $ (1.36 ) $ (0.59 ) Diluted earnings (loss) per share: Income (loss) from continuing operations available to common shareholders - basic $ 15,151 $ (21,479 ) $ (9,322 ) Add: Undistributed earnings reallocated to unvested shareholders 3 — — Income (loss) from continuing operations available to common shareholders - basic $ 15,154 $ (21,479 ) $ (9,322 ) Basic weighted-average shares outstanding (1) 15,822 15,764 15,699 Effect of dilutive securities: Stock options (2) — — — Directors' stock performance units (2) 104 — — Diluted weighted-average shares outstanding (1)(2) 15,926 15,764 15,699 Diluted earnings (loss) per share - continuing operations $ 0.95 $ (1.36 ) $ (0.59 ) (1) Includes Common and Class B Common shares, excluding 461 , 570 , and 434 unvested participating securities, in thousands, for 2019, 2018, and 2017, respectively. (2) Shares issuable under stock option plans where the exercise price is greater than the average market price of the Company's Common Stock during the relevant period and directors' stock performance units have been excluded to the extent they are anti-dilutive. Aggregate shares excluded were 166 in 2019 , 422 in 2018 and 448 in 2017 . |
Stock Plans and Stock Compensat
Stock Plans and Stock Compensation Expense | 12 Months Ended |
Dec. 28, 2019 | |
Share-based Payment Arrangement, Noncash Expense [Abstract] | |
Stock Plans and Stock Compensation Expense | STOCK PLANS AND STOCK COMPENSATION EXPENSE The Company recognizes compensation expense relating to share-based payments based on the fair value of the equity instrument issued and records such expense in selling and administrative expenses in the Company's Consolidated Statements of Operations. The number of shares to be issued is determined by dividing the specified dollar value of the award by the market value per share on the grant date. The Company's stock compensation expense (credit) was $483 in 2019 , $(29) in 2018 and $940 in 2017 . The credit in 2018 is related to the reversal of stock compensation that did not vest. 2016 Incentive Compensation Plan On May 3, 2016, the Company's shareholders' approved and adopted the Company's 2016 Incentive Compensation Plan (the "2016 Incentive Compensation Plan") which provides for the issuance of a maximum of 800,000 shares of Common Stock and/or Class B Common Stock for the grant of options, and/or other stock-based or stock-denominated awards to employees, officers, directors, and agents of the Company and its participating subsidiaries. The 2016 Incentive Compensation Plan and the allocation of shares thereunder superseded and replaced The Dixie Group, Inc. Stock Awards Plan, as amended (the "2006 Plan") and the allocation of shares thereunder. The 2006 Plan was terminated with respect to new awards. Awards previously granted under the 2006 Plan continue to be governed by the terms of that plan and are not affected by its termination. 2006 Stock Awards Plan The Company had a Stock Awards Plan, ("2006 Plan"), as amended, which provided for the issuance of up to 1,800,000 shares of Common Stock and/or Class B Common Stock as stock-based or stock-denominated awards to directors of the Company and to salaried employees of the Company and its participating subsidiaries. Restricted Stock Awards Each executive officer has the opportunity to earn a Primary Long-Term Incentive Award of restricted stock and separately receive an award of restricted stock denominated as “Career Shares.” The number of shares issued, if any, is based on the market price of the Company’s Common Stock at the time of grant of the award, subject to a $5.00 per share minimum value. Primary Long-Term Incentive Awards vest over three years. For participants over age 60 , Career Shares awards fully vest when the participant becomes (i) qualified to retire from the Company and (ii) has retained such shares two years following the grant date. For the participants under age 60 , Career Shares vest ratably over five years beginning on the participant's 61st birthday. On March 12, 2018, the Company granted 297,292 shares of restricted stock to certain key employees. The grant-date fair value of the awards was $832 , or $2.80 per share, and will be recognized as stock compensation expense over a weighted-average period of 6.1 years from the date the awards were granted. Each award is subject to a continued service condition. The fair value of each share of restricted stock awarded was equal to the market value of a share of the Company's Common Stock on the grant date. On July 30, 2018, the Company granted 10,000 shares of restricted stock to an employee. The grant-date fair value of the award was $20 , or $2.00 per share and will be recognized as stock compensation over a three -year vesting period from the date the award was granted. The award is subject to a continued service condition. The fair value of each share of restricted stock awarded was equal to the market value of a share of the Company's Common Stock on the grant date. On March 10, 2017, the Company granted 40,000 shares of restricted stock to certain key employees. The grant-date fair value of the awards was $140 , or $3.50 per share, and will be recognized as stock compensation expense over a three -year vesting period from the date the awards were granted. Each award is subject to a continued service condition. The fair value of each share of restricted stock awarded was equal to the market value of a share of the Company's Common Stock on the grant date. On September 1, 2017, the Company granted 10,000 shares of restricted stock to a key employee. The grant-date fair value of the award was $42 , or $4.15 per share, and will be recognized as stock compensation expense over a three -year vesting period from the date the award was granted. The award is subject to a continued service condition. The fair value of each share of restricted stock awarded was equal to the market value of a share of the Company's Common Stock on the grant date. On September 18, 2017, the Company granted 10,000 shares of restricted stock to a key employee. The grant-date fair value of the award was $41 , or $4.05 per share, and will be recognized as stock compensation expense over a three -year vesting period from the date the award was granted. The award is subject to a continued service condition. The fair value of each share of restricted stock awarded was equal to the market value of a share of the Company's Common Stock on the grant date. Restricted stock activity for the three years ended December 28, 2019 is summarized as follows: Number of Shares Weighted-Average Grant-Date Fair Value Outstanding at December 31, 2016 457,378 $ 7.41 Granted 60,000 3.70 Vested (78,908 ) 8.79 Forfeited (4,629 ) 5.96 Outstanding at December 30, 2017 433,841 6.66 Granted 307,292 2.77 Vested (64,939 ) 6.58 Forfeited (106,196 ) 9.51 Outstanding at December 29, 2018 569,998 4.04 Vested (90,791 ) 2.83 Forfeited (17,784 ) 3.48 Outstanding at December 28, 2019 461,423 $ 4.30 As of December 28, 2019 , unrecognized compensation cost related to unvested restricted stock was $989 . That cost is expected to be recognized over a weighted-average period of 8.6 years. The total fair value of shares vested was approximately $94 , $173 and $276 during 2019 , 2018 and 2017 , respectively. Stock Performance Units The Company's non-employee directors receive an annual retainer of $18 in cash and $18 in value of Stock Performance Units (subject to a $5.00 minimum per unit). If market value at the date of the grants is above $5.00 per share; there is no reduction in the number of units issued. However, if the market value at the date of the grants is below $5.00 , units will be reduced to reflect the $5.00 per share minimum. Upon retirement, the Company issues the number of shares of Common Stock equivalent to the number of Stock Performance Units held by non-employee directors at that time. As of December 28, 2019 , 112,320 Stock Performance Units were outstanding under this plan. As of December 28, 2019, unrecognized compensation cost related to Stock Performance Units was $5 . That cost is expected to be recognized over a weighted-average period of 0.3 years. Stock Options Options granted under the Company's 2006 Plan and the 2016 Plan were exercisable for periods determined at the time the awards are granted. Effective 2009, the Company established a $5.00 minimum price for calculating the number of options to be granted. On May 30, 2017, the Company granted 203,000 options with a market condition to certain key employees of the Company at a weighted-average exercise price of $4.30 . The grant-date fair value of these options was $306 . These options vest over a two -year period and require the Company's stock to trade at or above $7.00 for five consecutive trading days after the two -year period and within five years of issuance to meet the market condition. The fair value of each option was estimated on the date of grant using a lattice model . Expected volatility was based on historical volatility of the Company's stock, using the most recent period equal to the expected life of the options. The risk-free interest rate was based on the U.S. Treasury yield for a term equal to the expected life of the option at the time of grant. The Company uses historical exercise behavior data of similar employee groups to determine the expected lives of options. The following weighted-average assumptions were used to estimate the fair value of stock options granted: 2019 (1) 2018 (1) 2017 Expected Volatility — % — % 47.80 % Risk-free interest rate — % — % 1.79 % Dividend yield — % — % — % Expected life of options (yrs) 0 0 5 (1) No options were granted during the years ended December 28, 2019 and December 29, 2018. Option activity for the three years ended December 28, 2019 is summarized as follows: Number of Shares Weighted-Average Exercise Price Weighted-Average Remaining Contractual Life (in years) Weighted-Average Fair Value of Options Granted During the Year Outstanding at December 31, 2016 103,500 $ 5.00 $ — Granted 203,000 4.30 1.51 Exercised — — — Forfeited — — — Outstanding at December 30, 2017 306,500 4.54 — Granted — — — Exercised — — — Forfeited (8,000 ) 4.17 — Outstanding at December 29, 2018 298,500 4.55 — Granted — — — Exercised — — — Forfeited (132,500 ) 4.82 — Outstanding at December 28, 2019 166,000 4.33 2.40 $ — Options exercisable at: December 30, 2017 103,500 $ 5.00 — December 29, 2018 103,500 5.00 — December 28, 2019 166,000 4.33 2.40 — At December 28, 2019 , there was no intrinsic value of outstanding stock options and no intrinsic value of exercisable stock options. The intrinsic value of stock options exercised during 2019 , 2018 and 2017 was $0 , $0 and $0 , respectively. At December 28, 2019 , there was no unrecognized compensation expense related to unvested stock options. |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income (Loss) | 12 Months Ended |
Dec. 28, 2019 | |
Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
Accumulated Other Comprehensive Income (Loss) | ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) Components of accumulated other comprehensive income (loss), net of tax, are as follows: Interest Rate Swaps Post-Retirement Liabilities Total Balance at December 31, 2016 (2,216 ) 256 (1,960 ) Unrealized gain on interest rate swaps, net of tax of $68 112 — 112 Reclassification of loss into earnings from interest rate swaps, net of tax of $475 775 — 775 Unrecognized net actuarial gain on postretirement benefit plans, net of tax of $4 — 7 7 Reclassification of net actuarial gain into earnings from postretirement benefit plans, net of tax of $11 — (19 ) (19 ) Reclassification of prior service credits into earnings from postretirement benefit plans, net of tax of $1 — (3 ) (3 ) Reclassification of stranded tax effects (258 ) 47 (211 ) Balance at December 30, 2017 (1,587 ) 288 (1,299 ) Unrealized gain on interest rate swaps, net of tax of $0 531 — 531 Reclassification of loss into earnings from interest rate swaps, net of tax of $0 673 — 673 Unrecognized net actuarial gain on postretirement benefit plans, net of tax of $0 — 18 18 Reclassification of net actuarial gain into earnings from postretirement benefit plans, net of tax of $0 — (27 ) (27 ) Reclassification of prior service credits into earnings from postretirement benefit plans, net of tax of $0 — (4 ) (4 ) Balance at December 29, 2018 (383 ) 275 (108 ) Unrealized gain on interest rate swaps, net of tax of $0 (1,109 ) — (1,109 ) Reclassification of loss into earnings from interest rate swaps, net of tax of $10 444 — 444 Unrecognized net actuarial gain on postretirement benefit plans, net of tax of $0 — (6 ) (6 ) Reclassification of net actuarial gain into earnings from postretirement benefit plans, net of tax of $0 — (27 ) (27 ) Reclassification of prior service credits into earnings from postretirement benefit plans, net of tax of $0 — (2 ) (2 ) Balance at December 28, 2019 $ (1,048 ) $ 240 $ (808 ) |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 28, 2019 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | COMMITMENTS AND CONTINGENCIES Commitments The Company had purchase commitments of $2,380 at December 28, 2019 , primarily related to machinery and equipment. The Company enters into fixed-price contracts with suppliers to purchase natural gas to support certain manufacturing processes. The Company had contract purchases of $431 in 2019 , $428 in 2018 and $640 in 2017 . At December 28, 2019 , the Company has commitments to purchase natural gas of $ 72 for 2020. Contingencies The Company assesses its exposure related to legal matters, including those pertaining to product liability, safety and health matters and other items that arise in the regular course of its business. If the Company determines that it is probable a loss has been incurred, the amount of the loss, or an amount within the range of loss, that can be reasonably estimated will be recorded. Environmental Remediation The Company accrues for losses associated with environmental remediation obligations when such losses are probable and estimable. Remediation obligations are accrued based on the latest available information and are recorded at undiscounted amounts. The Company regularly monitors the progress of environmental remediation. If studies indicate that the cost of remediation has changed from the previous estimate, an adjustment to the liability would be recorded in the period in which such determination is made. (See Note 22). Legal Proceedings The Company has been sued, together with 3M Company and approximately 30 other named defendants and unnamed "fictitious defendants" including various carpet manufacturers and suppliers, in four lawsuits whereby the plaintiffs seek monetary damages and injunctive relief related to the manufacture, supply, and/or use of certain chemical products in the manufacture, finishing, and treatment of carpet products in the Dalton, Georgia area. These chemical products allegedly include without limitation perflourinated compounds ("PFC") such as perflourinated acid ("PFOA") and perfluorooctane sulfonate ("PFOS"). In each lawsuit, the plaintiff(s) alleges that, as a consequence of these actions, these chemical compounds discharge or leach into the water systems around Dalton and then flow into the waters in or near the water bodies from which the plaintiff(s) draw for drinking water. Two of these lawsuits were filed in Alabama. The first lawsuit in Alabama was filed on September 22, 2016 by The Water Works and Sewer Board of the City of Gadsden (Alabama) in the Circuit Court of Etowah County, Alabama (styled The Water Works and Sewer Board of the City of Gadsden v. 3A1 Company, et al., Civil Action No. 31-CV-2016-900676.00). The second lawsuit in Alabama was filed on May 15, 2017 by The Water Works and Sewer Board of the Town of Centre (Alabama) in the Circuit Comi of Cherokee County, Alabama (styled The Water Works and Sewer Board of the Town of Centre v. 3M Company, et al., Civil Action No. 13-CV- 2017-900049.00). In each of these Alabama lawsuits, the plaintiff seeks damages that include but are not limited to the expenses associated with the future installation and operation of a filtration system capable of removing from the water the chemicals that are allegedly present as a result of the manufacturing and treatment process described above. Each plaintiff requests a jury trial, does not specify an amount of damages other than an assertion that its damages exceed $10 , and requests injunctive relief. The Company has answered the complaint in each of these lawsuits, intends to defend those matters vigorously, and is unable to estimate its potential exposure to loss, if any, for these lawsuits at this time. The other two lawsuits were filed in Georgia. The first lawsuit in Georgia was filed on November 19, 2019 by the City of Rome (Georgia) in the Superior Court of Floyd County, Georgia (styled The City of Rome, Georgia v. 3A1 Company, et al., No. 19CV02405JFL003). The plaintiff in that case also seeks damages that include without limitation the expenses associated with the future installation and operation of a filtration system capable of removing from the water the chemicals that are allegedly present as a result of the manufacturing and treatment process described above. The plaintiff requests a jury trial and also seeks injunctive relief. While the amount of damages is unspecified, the plaintiff asserts it has spent "tens of millions" to remove the chemicals from the county's water supply and will incur additional costs related to removing such chemicals in the future. The Company has answered the complaint, intends to defend the matter vigorously, and is unable to estimate its potential exposure to loss, if any, at this time. The second lawsuit in Georgia was filed on November 26, 2019 and is presented as a class action lawsuit by and on behalf of a class of persons who obtain drinking water from the City of Rome, Georgia and the Floyd County Water Department (and similarly situated persons) (generally, for these purposes, residents of Floyd County) (styled Jarrod Johnson v. 3M Company, et al., Civil Action No. 19-CV-02448-JFL-003) (the "Class Action Lawsuit"). The plaintiffs in this case allege their damages include without limitation the surcharges incurred for the costs of partially filtering the chemicals from their drinking water. The Complaint requests a jury trial and asserts damages unspecified in amount, in addition to requests for injunctive relief. The Canyons Grand Summit Resort Hotel Owner's Association, Inc. has filed a lawsuit against the Company in the state of Utah (styled The Canyons Grand Summit Resort Hotel Owners Association, Inc. v. The Dixie Group Inc. dba Masland Contract Carpet, in the Third District Court, State of Utah, Summit County, Silver Summit Department, Civil No. 190500139) regarding a large quantity of carpet purchased for a hotel. The claim asserts that the Company manufactured and delivered carpet that did not meet the proper specifications. The plaintiff seeks damages "in an amount not less than $500 " and does not request a jury trial. The Company has answered the complaint, intends to defend the matter vigorously, and is unable to estimate its potential exposure to loss, if any, at this time. On November 16, 2018 the Superior Court of the State of California granted preliminary approval of a class action settlement in the matter of Carlos Garcia v. Fabrica International, Inc. et al Orange County Superior Court Case No. 30-2017-00949461-CU-OE-CXC. The court further approved the procedures for Settlement Class Members to opt-out of or object to the Settlement. The terms of the settlement provide that Fabrica, a wholly owned subsidiary of the Company, has agreed to pay $1,514 (the “Gross Settlement Amount”) to fully resolve all claims in the Lawsuit, including payments to Settlement Class Members, Class Counsel’s attorneys’ fees and expenses, settlement administration costs, and the Class Representative’s Service Award. The amount of the proposed settlement was recorded during the quarter ended June 30, 2018. The deadline for class members to opt-out was February 1, 2019. The deadline for the plaintiff to file a motion for final approval of the class action settlement was March 29, 2019. The final fairness hearing took place on April 12, 2019 with final approval being granted. The payment of the settlement occurred in October, 2019. The Company is one of multiple parties to three lawsuits filed in Madison County Illinois, styled Brenda Bridgeman, Individually and as Special Administrator of the Estate of Robert Bridgeman, Deceased, vs. American Honda Motor Co., Inc., f/k/a Metropolitan Life Insurance Co., et al No. 15-L-374, styled Charles Anderson, Pltf., vs. 3M Company, et al, No. 17-L-525 and styled Danny Atkins and Pamela Atkins, Pltfs., vs. Aurora Pump Company, et al. No. 18-L-2. All three lawsuits entail a claim for damages to be determined in excess of $50 filed on behalf of either a former employee or the estate of an individual which alleges that the deceased contracted mesothelioma as a result of exposure to asbestos while employed by the Company. Discovery in each matter is ongoing, and a tentative trial date has been set for one of the cases. The Company has denied liability, is defending the matters vigorously and is unable to estimate its potential exposure to loss, if any, at this time. In August of 2017, the lawsuit styled Sandra D. Watts, Individually and as Special Administrator of the Estate of Dianne Averett, Deceased vs. 4520 Corp., Inc. f/k/a Benjamin F. Shaw Company, et al No. 12-L-2032 was placed in the category of "special closed with settlements and bankruptcy claims pending" to all remaining defendants. In March 2018, the lawsuit styled Charles Anderson, Individually and as Special Administrator of the Estate of Charles Anderson, Deceased vs. 3M Company, et al, No. 17-L-525 was dismissed without prejudice. In October 2018, the lawsuit styled Danny Atkins and Pamela Atkins, Pltfs., vs. Aurora Pump Company, et al. No. 18-L-2 was dismissed without prejudice. See Note 21 under the Notes to Consolidated Financial Statements for discussion of a series of workers compensation claims filed related to the closure of manufacturing facilities in California. |
Other (Income) Expense, Net
Other (Income) Expense, Net | 12 Months Ended |
Dec. 28, 2019 | |
Other Income and Expenses [Abstract] | |
Other (Income) Expense, Net | OTHER (INCOME) EXPENSE, NET Other operating expense, net is summarized as follows: 2019 2018 2017 Other operating expense, net: (Gain) loss on property, plant and equipment disposals $ 353 $ (1,047 ) $ 170 Gain on sale of building (25,121 ) — — (Gain) loss on currency exchanges 41 126 (72 ) Amortization of intangibles — 305 306 Retirement expenses 72 64 155 Miscellaneous (income) expense 667 1,010 (118 ) Other operating expense, net $ (23,988 ) $ 458 $ 441 Other (income) expense, net is summarized as follows: 2019 2018 2017 Other (income) expense, net: Interest Income $ (49 ) $ — $ — Post-retirement income (14 ) (15 ) (18 ) Miscellaneous (income) expense 6 18 39 Other (income) expense, net $ (57 ) $ 3 $ 21 |
Facility Consolidation and Seve
Facility Consolidation and Severance Expenses, Net | 12 Months Ended |
Dec. 28, 2019 | |
Restructuring and Related Activities [Abstract] | |
Facility Consolidation and Severance Expenses, Net | FACILITY CONSOLIDATION AND SEVERANCE EXPENSES, NET 2015 Corporate Office Consolidation Plan In April 2015, the Company's Board of Directors approved the Corporate Office Consolidation Plan, to cover the costs of consolidating three of the Company's existing leased divisional and corporate offices to a single leased facility located in Dalton, Georgia. The Company paid a fee to terminate one of the leased facilities, did not renew a second facility and vacated the third facility. Related to the vacated facility, the Company recorded the estimated costs related to the fulfillment of its contractual lease obligation and on-going facility maintenance, net of an estimate of sub-lease expectations. Accordingly, if the estimates differ, the Company would record an additional charge or benefit, as appropriate. Costs related to the consolidation included the lease termination fee, contractual lease obligations and moving costs. 2017 Profit Improvement Plan During the fourth quarter of 2017, the Company announced a Profit Improvement Plan to improve profitability through lower cost and streamlined decision making and aligning processes to maximize efficiency. The plan included consolidating the management of the Company's two commercial brands, Atlas Carpet Mills and Masland Contract, under one management team, sharing operations in sales, marketing, product development and manufacturing. Specific to this plan, the Company is focusing nearly all commercial solution dyed make-to-order production in its Atmore, Alabama operations where the Company has developed such make-to-order capabilities over the last 5 years. Further, the Company aligned its west coast production facilities, better utilizing its west coast real estate by moving production to its Santa Ana, California and Atmore, Alabama operations to more efficiently distribute its west coast products. Furthermore, the Company re-configured its east coast distribution facilities to provide more efficient distribution of its products. In addition, the Company realized reductions in related support functions such as accounting and information services. The plan is now substantially complete. Costs related to the facility consolidation plans are summarized as follows: As of December 28, 2019 Accrued Balance at December 29, 2018 2019 Expenses (1) 2019 Cash Payments Accrued Balance at December 28, 2019 Total Costs Incurred to Date Total Expected Costs Corporate Office Consolidation Plan 98 13 73 38 829 829 Profit Improvement Plan 846 5,006 5,547 305 8,800 8,800 Total All Plans $ 944 $ 5,019 $ 5,620 $ 343 $ 9,629 $ 9,629 Asset Impairments $ — $ 3 $ — $ — $ 3,323 $ 3,323 Accrued Balance at December 30, 2017 2018 Expenses (1) 2018 Cash Payments Accrued Balance at December 29, 2018 Corporate Office Consolidation Plan 171 9 82 98 Profit Improvement Plan $ 334 $ 3,158 $ 2,646 $ 846 Total All Plans $ 505 $ 3,167 $ 2,728 $ 944 Asset Impairments $ — $ 3,320 $ — $ — (1) Costs incurred under these plans are classified as "facility consolidation and severance expenses, net" in the Company's Consolidated Statements of Operations. |
Discontinued Operations
Discontinued Operations | 12 Months Ended |
Dec. 28, 2019 | |
Discontinued Operations and Disposal Groups [Abstract] | |
Discontinued Operations | DISCONTINUED OPERATIONS The Company has either sold or discontinued certain operations that are accounted for as "Discontinued Operations" under applicable accounting guidance. Discontinued operations are summarized as follows: 2019 2018 2017 Income (loss) from discontinued operations: Workers' compensation costs from former textile operations $ 38 $ 212 $ (155 ) Environmental remediation costs from former textile operations (386 ) (117 ) (225 ) Income (loss) from discontinued operations, before taxes $ (348 ) $ 95 $ (380 ) Income tax benefit — — (147 ) Income (loss) from discontinued operations, net of tax $ (348 ) $ 95 $ (233 ) Undiscounted reserves are maintained for the self-insured workers' compensation obligations related to the Company's former textile operations. These reserves are administered by a third-party workers' compensation service provider under the supervision of Company personnel. Such reserves are reassessed on a quarterly basis. Pre-tax cost incurred for workers' compensation as a component of discontinued operations primarily represents a change in estimate for each period from unanticipated medical costs associated with the Company's obligations. Reserves for environmental remediation obligations are established on an undiscounted basis. The Company has an accrual for environmental remediation obligations related to discontinued operations of $1,987 as of December 28, 2019 and $1,728 as of December 29, 2018 . The liability established represents the Company's best estimate of possible loss and is the reasonable amount to which there is any meaningful degree of certainty given the periods of estimated remediation and the dollars applicable to such remediation for those periods. The actual timeline to remediate, and thus, the ultimate cost to complete such remediation through these remediation efforts, may differ significantly from the Company's estimates. Pre-tax cost for environmental remediation obligations classified as discontinued operations were primarily a result of specific events requiring action and additional expense in each period. |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Dec. 28, 2019 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | RELATED PARTY TRANSACTIONS The Company was a party to a 5-year lease with the seller of Atlas Carpet Mills, Inc. to lease three manufacturing facilities as part of the acquisition in 2014. The lessor was controlled by an associate of the Company. Rent paid to the lessor during 2019, 2018, and 2017 was $497 , $1,003 , and $978 , respectively. The lease was based on current market values for similar facilities. These leases terminated as of September, 2019. The Company purchases a portion of its product needs in the form of fiber, yarn and carpet from Engineered Floors, an entity substantially controlled by Robert E. Shaw, a shareholder of the Company. An affiliate of Mr. Shaw holds approximately 7.5% of the Company's Common Stock, which represents approximately 3.5% of the total vote of all classes of the Company's Common Stock. Engineered Floors is one of several suppliers of such materials to the Company. Total purchases from Engineered Floors for 2019, 2018, and 2017 were approximately $5,900 , $8,200 and $7,200 , respectively; or approximately 2.1% , 2.6% , and 2.3% of the Company's cost of goods sold in 2019, 2018, and 2017, respectively. Purchases from Engineered Floors are based on market value, negotiated prices. The Company has no contractual commitments with Mr. Shaw associated with its business relationship with Engineered Floors. Transactions with Engineered Floors are reviewed annually by the Company's board of directors. The Company is a party to a ten-year lease with the Rothman Family Partnership to lease a facility as part of the Robertex acquisition in 2013. The controlling principle of the lessor was an associate of the Company until June 30, 2018. Rent paid to the lessor during 2019, 2018, and 2017 was $284 , $278 , and $273 , respectively. The lease was based on current market values for similar facilities. |
Valuation and Qualifying Accoun
Valuation and Qualifying Accounts | 12 Months Ended |
Dec. 28, 2019 | |
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract] | |
Schedule of Valuation and Qualifying Accounts Disclosure | SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS THE DIXIE GROUP, INC. (dollars in thousands) Description Balance at Beginning of Year Additions - Charged to Costs and Expenses Additions - Charged to Other Account - Describe Deductions - Describe Balance at End of Year Year ended December 28, 2019: Reserves deducted from asset accounts: Allowance for doubtful accounts $ 174 $ 240 $ — $ 152 (1) $ 262 Reserves classified as liabilities: Provision for claims, allowances and warranties 5,717 10,538 — 11,714 — 4,541 Year ended December 29, 2018: Reserves deducted from asset accounts: Allowance for doubtful accounts $ 133 $ 162 $ — $ 121 (1) $ 174 Reserves classified as liabilities: Provision for claims, allowances and warranties (As Adjusted) * 6,360 11,995 — 12,638 (2) 5,717 Year ended December 30, 2017: Reserves deducted from asset accounts: Allowance for doubtful accounts $ 107 $ 70 $ — $ 44 (1) $ 133 Reserves classified as liabilities: Provision for claims, allowances and warranties (As Adjusted) * 7,039 11,760 — 12,439 (2) 6,360 * In calculating the current period Additions and Deductions as related to the Provision for Claims, Allowances, and Warranties, the Company identified errors in the classification of certain amounts for these columns in prior periods. The beginning and ending balances, as previously reported, were not affected by these errors and they remain unchanged as presented. The Company evaluated the effects of the corrections and deemed them to be immaterial. (1) Uncollectible accounts written off, net of recoveries. (2) Net reserve reductions for claims, allowances and warranties settled. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 28, 2019 | |
Accounting Policies [Abstract] | |
Principals of Consolidation | Principles of Consolidation The Consolidated Financial Statements include the accounts of The Dixie Group, Inc. and its wholly-owned subsidiaries (the "Company"). Significant intercompany accounts and transactions have been eliminated in consolidation. |
Use of Estimates in the Preparation of Financial Statements | Use of Estimates in the Preparation of Financial Statements The preparation of consolidated financial statements in conformity with U.S. generally accepted accounting principles ("U.S. GAAP") requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates and these differences could be material. |
Fiscal Year | Fiscal Year The Company ends its fiscal year on the last Saturday of December. All references herein to "2019," "2018," and "2017," mean the fiscal years ended December 28, 2019, December 29, 2018, and December 30, 2017, respectively. All years presented contained 52 weeks. |
Reclassifications | Reclassifications The Company reclassified certain amounts in 2018 and 2017 to conform to the 2019 presentation. |
Discontinued Operations | Discontinued Operations The consolidated financial statements separately report discontinued operations and the results of continuing operations (See Note 22). |
Cash and Cash Equivalents | Cash and Cash Equivalents Highly liquid investments with original maturities of three months or less when purchased are reported as cash equivalents. |
Market Risk | Market Risk The Company sells carpet to floorcovering retailers, the interior design, architectural and specifier communities and supplies carpet yarn and carpet dyeing and finishing services to certain manufacturers. The Company's customers are located principally throughout the United States. As a percentage of net sales, one customer accounted for approximately 11% in 2019, 13% in 2018 and 14% in 2017. No other customer accounted for more than 10% of net sales in 2019, 2018, or 2017, nor did the Company make a significant amount of sales to foreign countries during 2019, 2018, or 2017. |
Credit Risk | Credit Risk The Company grants credit to its customers with defined payment terms, performs ongoing evaluations of the credit worthiness of its customers and generally does not require collateral. Accounts receivable are carried at their outstanding principal amounts, less an anticipated amount for discounts and an allowance for doubtful accounts, which management believes is sufficient to cover potential credit losses based on historical experience and periodic evaluation of the financial condition of the Company's customers. As a percentage of customer's trade accounts receivable, one customer accounted for approximately 18% in 2019, 34% in 2018, and 31% in 2017. Notes receivable are carried at their outstanding principal amounts, less an allowance for doubtful accounts to cover potential credit losses based on the financial condition of borrowers and collateral held by the Company. |
Inventories | Inventories Inventories are stated at the lower of cost or market. Cost is determined using the last-in, first-out ("LIFO") method, which generally matches current costs of inventory sold with current revenues, for substantially all inventories. |
Property, Plant and Equipment | Property, Plant and Equipment Property, plant and equipment are stated at the lower of cost or impaired value. Provisions for depreciation and amortization of property, plant and equipment have been computed for financial reporting purposes using the straight-line method over the estimated useful lives of the related assets, ranging from 10 to 40 years for buildings and improvements, and 3 to 10 years for machinery and equipment. Costs to repair and maintain the Company's equipment and facilities are expensed as incurred. Such costs typically include expenditures to maintain equipment and facilities in good repair and proper working condition. |
Impairment of Long-Lived Assets | Impairment of Long-Lived Assets Long-lived assets are reviewed for impairment when circumstances indicate that the carrying value of an asset may not be fully recoverable. When the carrying value of the asset exceeds the value of its estimated undiscounted future cash flows, an impairment charge is recognized equal to the difference between the asset's carrying value and its fair value. Fair value is estimated using discounted cash flows, prices for similar assets or other valuation techniques. |
Goodwill and other Intangible Assets | Goodwill and Other Intangible Assets Goodwill represents the excess of purchase price over the fair value of identified net assets acquired in business combinations. In accordance with the provisions of the Financial Accounting Standards Board ("FASB") Accounting Standards Codification Topic ("ASC") 350, “Intangibles-Goodwill and Other,” the Company tests goodwill for impairment annually in the fourth quarter of each year or more frequently if events or circumstances indicate that the carrying value of goodwill associated with a reporting unit may not be fully recoverable. The goodwill impairment tests are based on determining the fair value of the specified reporting units based on management judgments and assumptions using the discounted cash flows and comparable company market valuation approaches. The Company has identified its reporting unit as its floorcovering business for the purposes of allocating goodwill and assessing impairments. The valuation approaches are subject to key judgments and assumptions that are sensitive to change such as judgments and assumptions about sales growth rates, operating margins, the weighted average cost of capital (“WACC”) and comparable company market multiples. When developing these key judgments and assumptions, the Company considers economic, operational and market conditions that could impact the fair value of the reporting unit. However, estimates are inherently uncertain and represent only management’s reasonable expectations regarding future developments. These estimates and the judgments and assumptions upon which the estimates are based will, in all likelihood, differ in some respects from actual future results. Should a significant or prolonged deterioration in economic conditions occur or a decline in comparable company market multiples, then key judgments and assumptions could be impacted. In the goodwill assessment process, the Company compares the carrying value of a reporting unit, including goodwill, to the fair value of the reporting unit to identify potential goodwill impairments. The Company estimates the fair value of the reporting unit by using both a discounted cash flow and comparable company market valuation approach. If an impairment is indicated in the assessment, the impairment would be measured as the amount by which the reporting unit's carrying value exceeds its fair value, not to exceed the carrying value of goodwill. (See Note 7). Identifiable intangible assets with finite lives are generally amortized on a straight-line basis over their respective lives, which range from 10 to 20 years (See Note 7). |
Self-Insured Benefit Programs | Self-Insured Benefit Programs The Company records liabilities to reflect an estimate of the ultimate cost of claims related to its self-insured medical and dental benefits and workers' compensation. The amounts of such liabilities are based on an analysis of the Company's historical experience for each type of claim. |
Income Taxes | Income Taxes The Company recognizes deferred income tax assets and liabilities for the future tax consequences of the differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. The Company evaluates the recoverability of these future tax benefits by assessing the adequacy of future expected taxable income from all sources. In the event that the Company is not able to realize all or a portion of the deferred tax assets in the future, a valuation allowance is provided. The Company recognizes such amounts through a charge to income in the period in which that determination is made or when tax law changes are enacted. The Company accounts for uncertainty in income tax positions according to FASB guidance relating to uncertain tax positions. The Company recognizes interest and penalties related to uncertain tax positions, if any, in income tax expense. |
Derivative Financial Instruments | Derivative Financial Instruments The Company does not hold speculative financial instruments, nor does it hold or issue financial instruments for trading purposes. The Company uses derivative instruments, currently interest rate swaps, to minimize the effects of interest rate volatility. The Company recognizes all derivatives at fair value. Derivatives that are designated as cash flow hedges are linked to specific liabilities on the Company's balance sheet. The Company assesses, both at inception and on an ongoing basis, whether the derivatives that are used in hedging transactions are highly effective in offsetting changes in cash flows of the hedged items. When it is determined that a derivative is not highly effective or the derivative expires, is sold, terminated, or exercised, the Company discontinues hedge accounting for that specific hedge instrument. Changes in the fair value of effective cash flow hedges are deferred in accumulated other comprehensive income (loss) ("AOCIL") and reclassified to earnings in the same periods during which the hedge transaction affects earnings. Changes in the fair value of derivatives that are not effective cash flow hedges are recognized in results of operations. |
Treasury Stock | Treasury Stock The Company classifies treasury stock as a reduction to Common Stock for the par value of such shares acquired and the difference between the par value and the price paid for each share recorded either entirely to retained earnings or to additional paid-in-capital for periods in which the Company does not have retained earnings. This presentation reflects the repurchased shares as authorized but unissued as prescribed by state statute. |
Revenue Recognition | Revenue Recognition The Company derives its revenues primarily from the sale of floorcovering products and processing services. Revenues are recognized when control of these products or services is transferred to its customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those products and services. Sales, value add, and other taxes the Company collects concurrent with revenue-producing activities are excluded from revenue. Shipping and handling fees charged to customers are reported within revenue. Incidental items that are immaterial in the context of the contract are recognized as expense. The Company does not have any significant financing components as payment is received at or shortly after the point of sale. The Company determined revenue recognition through the following steps: • Identification of the contract with a customer • Identification of the performance obligations in the contract • Determination of the transaction price • Allocation of the transaction price to the performance obligations in the contract • Recognition of revenue when, or as, the performance obligation is satisfied Performance Obligations For performance obligations related to residential floorcovering and commercial floorcovering products, control transfers at a point in time. To indicate the transfer of control, the Company must have a present right to payment, legal title must have passed to the customer and the customer must have the significant risks and rewards of ownership. The Company’s principal terms of sale are FOB Shipping Point and FOB Destination and the Company transfers control and records revenue for product sales either upon shipment or delivery to the customer, respectively. Revenue is allocated to each performance obligation based on its relative stand-alone selling prices. Stand-alone selling prices are based on observable prices at which the Company separately sells the products or services. Variable Consideration The nature of the Company’s business gives rise to variable consideration, including rebates, allowances, and returns that generally decrease the transaction price, which reduces revenue. These variable amounts are generally credited to the customer, based on achieving certain levels of sales activity, product returns, or price concessions. Variable consideration is estimated at the most likely amount that is expected to be earned. Estimated amounts are included in the transaction price to the extent it is probable that a significant reversal of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is resolved. Estimates of variable consideration are estimated based upon historical experience and known trends. |
Advertising Costs | Advertising Costs The Company engages in promotional and advertising programs. Expenses relating to these programs are charged to results of operations during the period of the related benefits. These arrangements do not require significant estimates of costs. Costs related to cooperative advertising programs are normally recorded as selling and administrative expenses when the Company can reasonably identify the benefit associated with the program and can reasonably estimate that the fair value of the benefit is equal to or greater than its cost. The amount of advertising and promotion expenses included in selling and administrative expenses was not significant for the years 2019, 2018, or 2017. |
Warranties | Warranties The Company generally provides product warranties related to manufacturing defects and specific performance standards for its products for a period of up to two years. The Company accrues for estimated future assurance warranty costs in the period in which the sale is recorded. The costs are included in cost of sales in the Consolidated Statements of Operations and the product warranty reserve is included in accrued expenses in the Consolidated Balance Sheets. The Company calculates its accrual using the portfolio approach based upon historical experience and known trends. (See Note 9.) The Company does not provide an additional service-type warranty. |
Cost of Sales | Cost of Sales Cost of sales includes all costs related to manufacturing the Company's products, including purchasing and receiving costs, inspection costs, warehousing costs, freight costs, internal transfer costs or other costs of the Company's distribution network. |
Selling and Administrative Expenses | Selling and Administrative Expenses Selling and administrative expenses include all costs, not included in cost of sales, related to the sale and marketing of the Company's products and general administration of the Company's business. |
Operating Leases | Operating Leases The Company determines if an arrangement is an operating lease or a financing lease at inception. A lease exists if the Company obtains substantially all of the economic benefits of, and has the right to control the use of, an asset for a period of time. Right-of-use assets represent the Company's right to use an underlying asset for the lease term, and lease liabilities represent the Company's obligation to make lease payments arising from the lease agreement. Lease assets and obligations are recognized at the lease commencement date based on the present value of lease payments over the term of the lease. Right-of-use assets may also be adjusted to reflect any prepayments made or any incentive payments received. Generally, the Company's leases do not provide a readily determinable implicit interest rate, therefore, the Company uses its incremental borrowing rate, which is based on information available at the lease commencement date, to determine the present value of lease payments. The Company has operating leases primarily for real estate and equipment used in manufacturing. Operating lease expense is recognized in continuing operations on a straight-line basis over the lease term within cost of sales and selling and administrative expenses. Financing lease expense is comprised of both interest expense, which is recognized using the effective interest method, and amortization of the right-of-use assets. These expenses are presented consistently with the presentation of other interest expense and amortization or depreciation of similar assets. In determining lease asset values, the Company considers fixed and variable payment terms, prepayments, incentives, and options to extend, terminate or purchase. Renewal, termination, or purchase options affect the lease term used for determining lease asset value only if the option is reasonably certain to be exercised. |
Stock-Based Compensation | Stock-Based Compensation The Company recognizes compensation expense relating to stock-based payments based on the fair value of the equity or liability instrument issued. Restricted stock grants with pro-rata vesting are expensed using the straight-line method. (Terms of the Company's awards are specified in Note 17). The Company accounts for forfeitures when they actually occur. |
Revenue (Tables)
Revenue (Tables) | 12 Months Ended |
Dec. 28, 2019 | |
Revenue from Contract with Customer [Abstract] | |
Disaggregation of Revenue from Contracts with Customers [Table Text Block] | The following table disaggregates the Company’s revenue by end-user markets for the years ended December 28, 2019, December 29, 2018, and December 30, 2017: 2019 2018 2017 Residential floorcovering products $ 268,186 $ 289,129 $ 279,038 Commercial floorcovering products 103,286 113,971 131,372 Other services 3,110 1,933 2,052 Total net sales $ 374,582 $ 405,033 $ 412,462 |
Contract Balances [Table Text Block] | The activity in the advanced deposits for the year ended December 28, 2019, December 29, 2018, and December 30, 2017 is as follows: 2019 2018 2017 Beginning contract liability $ 6,013 $ 5,717 $ 8,212 Revenue recognized from contract liabilities included in the beginning balance (5,873 ) (5,717 ) (7,820 ) Increases due to cash received, net of amounts recognized in revenue during the period 4,545 6,013 5,325 Ending contract liability $ 4,685 $ 6,013 $ 5,717 |
Receivables, Net (Tables)
Receivables, Net (Tables) | 12 Months Ended |
Dec. 28, 2019 | |
Receivables [Abstract] | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | Receivables are summarized as follows: 2019 2018 Customers, trade $ 34,285 $ 40,121 Other receivables 3,115 2,595 Gross receivables 37,400 42,716 Less: allowance for doubtful accounts (262 ) (174 ) Receivables, net $ 37,138 $ 42,542 |
Inventories, Net (Tables)
Inventories, Net (Tables) | 12 Months Ended |
Dec. 28, 2019 | |
Inventory Disclosure [Abstract] | |
Schedule of Inventory, Current [Table Text Block] | Inventories are summarized as follows: 2019 2018 Raw materials $ 32,377 $ 36,875 Work-in-process 18,642 20,274 Finished goods 64,978 67,085 Supplies and other 260 190 LIFO reserve (20,748 ) (19,229 ) Inventories, net $ 95,509 $ 105,195 |
Property, Plant and Equipment_2
Property, Plant and Equipment, Net (Tables) | 12 Months Ended |
Dec. 28, 2019 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment [Table Text Block] | Property, plant and equipment consists of the following: 2019 2018 Land and improvements $ 3,422 $ 8,528 Buildings and improvements 51,432 63,389 Machinery and equipment 179,993 183,900 Assets under construction 1,459 2,675 236,306 258,492 Accumulated depreciation (170,864 ) (174,381 ) Property, plant and equipment, net $ 65,442 $ 84,111 |
Goodwill and Other Intangible_2
Goodwill and Other Intangible Assets (Tables) | 12 Months Ended |
Dec. 28, 2019 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of Acquired Finite-Lived Intangible Assets by Major Class [Table Text Block] | The following table represents the details of the Company's intangible assets that were subject to amortization during 2018: 2018 Gross Accumulated Amortization Impairment Net Customer relationships $ 208 $ (96 ) $ (112 ) $ — Rug design coding 144 (86 ) (58 ) — Trade names 3,300 (1,314 ) (1,986 ) — Total $ 3,652 $ (1,496 ) $ (2,156 ) $ — |
Finite-lived Intangible Assets Amortization Expense [Table Text Block] | Amortization expense for intangible assets is summarized as follows: 2019 2018 2017 Customer relationships $ — $ 16 $ 16 Rug design coding — 14 15 Trade names — 275 275 Amortization expense $ — $ 305 $ 306 |
Accrued Expenses (Tables)
Accrued Expenses (Tables) | 12 Months Ended |
Dec. 28, 2019 | |
Payables and Accruals [Abstract] | |
Schedule of Accrued Liabilities [Table Text Block] | Accrued expenses are summarized as follows: 2019 2018 Compensation and benefits (1) $ 8,804 $ 8,186 Provision for customer rebates, claims and allowances 7,682 9,300 Advanced customer deposits 4,685 6,013 Outstanding checks in excess of cash — 3,141 Other 4,247 4,212 Accrued expenses $ 25,418 $ 30,852 (1) Includes a liability related to the Company's self-insured Workers' Compensation program. This program is collateralized by letters of credit in the aggregate amount of $2,744 . |
Product Warranty Reserves (Tabl
Product Warranty Reserves (Tables) | 12 Months Ended |
Dec. 28, 2019 | |
Product Warranties Disclosures [Abstract] | |
Schedule of Product Warranty Liability [Table Text Block] | The following is a summary of the Company's product warranty activity: 2019 2018 Product warranty reserve at beginning of period $ 1,069 $ 1,173 Warranty liabilities accrued 1,667 2,341 Warranty liabilities settled (1,695 ) (2,380 ) Changes for pre-existing warranty liabilities (39 ) (65 ) Product warranty reserve at end of period $ 1,002 $ 1,069 |
Long-Term Debt and Credit Arr_2
Long-Term Debt and Credit Arrangements (Tables) | 12 Months Ended |
Dec. 28, 2019 | |
Debt Instrument [Line Items] | |
Schedule of Long-term Debt Instruments [Table Text Block] | Long-term debt consists of the following: 2019 2018 Revolving credit facility $ 59,693 $ 99,219 Notes payable - buildings 6,213 11,688 Notes payable - equipment and other 3,533 5,528 Finance lease - buildings 11,296 — Finance lease obligations 8,187 12,096 Deferred financing costs, net (571 ) (486 ) Total long-term debt 88,351 128,045 Less: current portion of long-term debt 6,684 7,794 Long-term debt $ 81,667 $ 120,251 |
Schedule of Maturities of Long-term Debt [Table Text Block] | Maturities of long-term debt for periods following December 28, 2019 are as follows: Long-Term Debt Finance Leases (See Note 11) Total 2020 $ 2,673 $ 4,011 $ 6,684 2021 61,116 3,392 64,508 2022 687 1,209 1,896 2023 416 535 951 2024 382 322 704 Thereafter 4,165 10,014 14,179 Total maturities of long-term debt $ 69,439 $ 19,483 $ 88,922 Deferred financing costs, net (571 ) — (571 ) Total long-term debt $ 68,868 $ 19,483 $ 88,351 |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Dec. 28, 2019 | |
Leases [Abstract] | |
Lessee's Schedule Of Balance Sheet Information For Operating And Financing Leases [Table Text Block] | Balance sheet information related to right-of-use assets and liabilities is as follows: Balance Sheet Location December 28, 2019 Operating Leases: Operating lease right-of-use assets Operating lease right-of-use assets $ 24,835 Current portion of operating lease liabilities Current portion of operating lease liabilities 3,172 Noncurrent portion of operating lease liabilities Operating lease liabilities 22,123 Total operating lease liabilities $ 25,295 Finance Leases: Finance lease right-of-use assets Property, plant, and equipment, net $ 15,152 Current portion of finance lease liabilities Current portion of long-term debt 4,011 Noncurrent portion of finance lease liabilities Long-term debt 15,472 $ 19,483 |
Lease, Cost [Table Text Block] | Lease cost recognized in the consolidated financial statements is summarized as follows: December 28, 2019 Operating lease cost $ 3,528 Finance lease cost: Amortization of lease assets 3,000 Interest on lease liabilities 1,378 Total finance lease costs $ 4,378 |
Other Supplemental Information Related to Leases [Table Text Block] | Other supplemental information related to leases is summarized as follows: December 28, 2019 Weighted average remaining lease term (in years): Operating leases 8.42 Finance leases 12.03 Weighted average discount rate: Operating leases 6.98 % Finance leases 6.72 % Cash paid for amounts included in the measurement of lease liabilities for the twelve months ended December 28, 2019: Operating cash flows from operating leases 3,518 Operating cash flows from finance leases 1,378 Financing cash flows from finance leases 4,166 |
Finance And Operating Lease Maturity [Table Text Block] | The following table summarizes the Company's undiscounted future minimum lease payments under non-cancellable contractual obligations for operating and financing liabilities as of December 28, 2019: Fiscal Year Operating Leases Finance Leases 2020 4,833 5,207 2021 4,455 4,347 2022 4,062 2,015 2023 3,190 1,283 2024 2,883 1,042 Thereafter 14,465 16,041 Total future minimum lease payments (undiscounted) 33,888 29,935 Less: Present value discount (8,593 ) (10,452 ) Total lease liability 25,295 19,483 |
Schedule of Maturities of Long-term Debt Under Topic 840 [Table Text Block] | Commitments for minimum rentals under non-cancelable leases, including any applicable rent escalation clauses, were as follows under Topic 840 for 2018: Capital Leases Operating Leases 2019 $ 4,590 $ 3,002 2020 4,205 2,533 2021 3,333 2,121 2022 989 1,667 2023 244 882 Thereafter — 3,155 Total commitments 13,361 13,360 Less amounts representing interest (1,265 ) — Total $ 12,096 $ 13,360 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 12 Months Ended |
Dec. 28, 2019 | |
Fair Value Disclosures [Abstract] | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | The following table reflects the fair values of assets and liabilities measured and recognized at fair value on a recurring basis on the Company's Consolidated Balance Sheets as of December 28, 2019 and December 29, 2018: 2019 2018 Fair Value Hierarchy Level Assets: Interest rate swaps (1) $ — $ 36 Level 2 Liabilities: Interest rate swaps (1) $ 1,653 $ 1,008 Level 2 (1) The Company uses certain external sources in deriving the fair value of the interest rate swaps. The interest rate swaps were valued using observable inputs (e.g., LIBOR yield curves, credit spreads). Valuations of interest rate swaps may fluctuate considerably from period-to-period due to volatility in underlying interest rates, which are driven by market conditions and the duration of the instrument. Credit adjustments could have a significant impact on the valuations due to changes in credit ratings of the Company or its counterparties. |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | Changes in the fair value measurements using significant unobservable inputs (Level 3) during the years ending December 28, 2019 and December 29, 2018 were as follows: 2019 2018 Beginning balance $ — $ 25 Fair value adjustments — 1 Settlements — (26 ) Ending balance $ — $ — |
Fair Value, by Balance Sheet Grouping [Table Text Block] | The carrying amounts and estimated fair values of the Company's financial instruments are summarized as follows: 2019 2018 Carrying Fair Carrying Fair Amount Value Amount Value Financial assets: Cash and cash equivalents $ 769 $ 769 $ 18 $ 18 Notes receivable, including current portion — — 282 282 Interest rate swaps — — 36 36 Financial liabilities: Long-term debt, including current portion 68,868 72,115 115,949 112,519 Finance leases, including current portion 19,483 20,361 12,096 11,723 Operating leases, including current portion 25,295 25,295 — — Interest rate swaps 1,653 1,653 1,008 1,008 |
Derivatives (Tables)
Derivatives (Tables) | 12 Months Ended |
Dec. 28, 2019 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Schedule of Derivative Instruments [Table Text Block] | The following is a summary of the Company's interest rate swaps as of December 28, 2019 : Type Notional Amount Effective Date Fixed Rate Variable Rate Interest rate swap $ 25,000 September 1, 2016 through September 1, 2021 3.105% 1 Month LIBOR Interest rate swap $ 25,000 September 1, 2015 through September 1, 2021 3.304% 1 Month LIBOR Interest rate swap $ 6,213 (1) November 7, 2014 through November 7, 2024 4.500% 1 Month LIBOR (1) Interest rate swap notional amount amortizes by $35 monthly to maturity. |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block] | The following table summarizes the fair values of derivative instruments included in the Company's Consolidated Balance Sheets: Location on Consolidated Balance Sheets Fair Value 2019 2018 Asset Derivatives: Derivatives designated as hedging instruments: Interest rate swaps - current portion Prepaids and other current assets $ — $ 14 Interest rate swaps - long-term portion Other Assets — 22 Total Asset Derivatives $ — $ 36 Liability Derivatives: Derivatives designated as hedging instruments: Interest rate swaps, current portion Accrued Expenses $ 841 $ 335 Interest rate swaps, long-term portion Other Long-Term Liabilities 812 673 Total Liability Derivatives $ 1,653 $ 1,008 |
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance [Table Text Block] | The following tables summarize the pre-tax impact of derivative instruments on the Company's consolidated financial statements: Amount of Gain or (Loss) Recognized in AOCIL on the effective portion of the Derivative 2019 2018 2017 Derivatives designated as hedging instruments: Cash flow hedges - interest rate swaps $ (1,109 ) $ 531 $ 180 Amount of Gain or (Loss) Reclassified from AOCIL on the effective portion into Income (1)(2) 2019 2018 2017 Derivatives designated as hedging instruments: Cash flow hedges - interest rate swaps $ (454 ) $ (673 ) $ (1,250 ) (1) The amount of gain (loss) reclassified from AOCIL is included in interest expense on the Company's Consolidated Statements of Operations. (2) The amount of loss expected to be reclassified from AOCIL into earnings during the next 12 months subsequent to fiscal 2019 is $841 . |
Employee Benefit Plans (Tables)
Employee Benefit Plans (Tables) | 12 Months Ended |
Dec. 28, 2019 | |
Defined Contribution Plan [Abstract] | |
Schedule of Multiemployer Plans [Table Text Block] | The Company's participation in the multi-employer pension plan for 2019 is provided in the table below. The "EIN/Pension Plan Number" column provides the Employee Identification Number (EIN) and the three digit plan number. The most recent Pension Protection Act (PPA) zone status available in 2019 and 2018 is for the plan's year-end at 2018 and 2017 , respectively. The zone status is based on information that the Company received from the plan and is certified by the plan's actuary. Among other factors, plans in the red zone are generally less than 65% funded, plans in the yellow zone are less than 80% funded and plans in the green zone are at least 80% funded. The "FIP/RP Status Pending/Implemented" column indicates a plan for which a financial improvement plan (FIP) or a rehabilitation plan (RP) is either pending or has been implemented. The last column lists the expiration date of the collective-bargaining agreement to which the plan is subject. Pension Fund EIN/Pension Plan Number Pension Protection Act Zone Status FIP/RP Status Pending/Implemented (1) Contributions (2) Surcharge Imposed (1) Expiration Date of Collective-Bargaining Agreement 2019 2018 2019 2018 2017 The Pension Plan of the National Retirement Fund 13-6130178 - 001 Red Red Implemented $ 335 $ 320 $ 313 Yes 6/4/2022 (1) The collective-bargaining agreement requires the Company to contribute to the plan at the rate of $0.47 per compensated hour for each covered employee. The Company will make additional contributions, as mandated by law, in accordance with the fund's 2010 Rehabilitation Plan which required a surcharge equal to $0.03 per hour (from $0.47 to $0.50) effective June 1, 2014 to May 31, 2015, a surcharge equal to $0.03 per hour (from $0.50 to $0.53) effective June 1, 2015 to May 31, 2016, a surcharge equal to $0.02 per hour (from $0.53 to $0.55) effective June 1, 2016 to May 31, 2017, a surcharge equal to $0.03 per hour (from $0.55 to $0.58) effective June 1, 2017 to May 31, 2018, a surcharge equal to $0.02 per hour (from $0.58 to $0.60) effective June 1, 2018 to May 31, 2019, and a surcharge equal to $0.03 per hour (from $0.60 to $0.63) effective June 1, 2019 to May 31, 2020. Based upon current employment and benefit levels, the Company's contributions to the multi-employer pension plan are expected to be approximately $342 for 2020. (2) The Company's contributions to the plan do not represent more than 5% of the total contributions to the plan for the most recent plan year available. |
Schedule of Net Funded Status [Table Text Block] | Information about the benefit obligation and funded status of the Company's postretirement benefit plan is summarized as follows: 2019 2018 Change in benefit obligation: Benefit obligation at beginning of year $ 331 $ 325 Service cost 7 8 Interest cost 17 17 Actuarial (gain) loss 6 (18 ) Benefits paid (1 ) (1 ) Benefit obligation at end of year 360 331 Change in plan assets: Fair value of plan assets at beginning of year — — Employer contributions 1 1 Benefits paid (1 ) (1 ) Fair value of plan assets at end of year — — Unfunded amount $ (360 ) $ (331 ) |
Schedule of Amounts Recognized in Balance Sheet [Table Text Block] | The balance sheet classification of the Company's liability for the postretirement benefit plan is summarized as follows: 2019 2018 Accrued expenses $ 16 $ 15 Other long-term liabilities 344 316 Total liability $ 360 $ 331 |
Schedule of Expected Benefit Payments [Table Text Block] | Benefits expected to be paid on behalf of associates for the postretirement benefit plan during the period 2020 through 2029 are summarized as follows: Years Postretirement Plan 2020 $ 16 2021 15 2022 15 2023 14 2024 14 2025 - 2029 75 |
Defined Benefit Plan, Assumptions [Table Text Block] | Assumptions used to determine the benefit obligation of the Company's postretirement benefit plan are summarized as follows: 2019 2018 Weighted-average assumptions as of year-end: Discount rate (benefit obligation) 3.50 % 4.00 % |
Schedule of Net Benefit Costs [Table Text Block] | Components of net periodic benefit cost (credit) for the postretirement plan are summarized as follows: 2019 2018 2017 Service cost $ 7 $ 8 $ 7 Interest cost 17 17 16 Amortization of prior service credits (3 ) (4 ) (4 ) Recognized net actuarial gains (27 ) (28 ) (30 ) Net periodic benefit cost (credit) $ (6 ) $ (7 ) $ (11 ) |
Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized over Next Fiscal Year [Table Text Block] | Pre-tax amounts included in AOCIL for the Company's postretirement benefit plan at 2019 are summarized as follows: Postretirement Benefit Plan Balance at 2019 2020 Expected Amortization Prior service credits $ — $ (3 ) Unrecognized actuarial gains (339 ) (27 ) Totals $ (339 ) $ (30 ) |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 28, 2019 | |
Income Tax Disclosure [Abstract] | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | The provision (benefit) for income taxes on income (loss) from continuing operations consists of the following: 2019 2018 2017 Current Federal $ (287 ) $ (178 ) $ 278 State 107 (116 ) (950 ) Total current (180 ) (294 ) (672 ) Deferred Federal (385 ) (434 ) 7,535 State (92 ) (103 ) 646 Total deferred (477 ) (537 ) 8,181 Income tax provision (benefit) $ (657 ) $ (831 ) $ 7,509 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Differences between the provision (benefit) for income taxes and the amount computed by applying the statutory federal income tax rate to income (loss) from continuing operations before taxes are summarized as follows: 2019 2018 2017 Federal statutory rate 21 % 21 % 35 % Statutory rate applied to income (loss) from continuing operations before taxes $ 3,142 $ (4,685 ) $ (635 ) Plus state income taxes, net of federal tax effect 12 (173 ) (198 ) Total statutory provision (benefit) 3,154 (4,858 ) (833 ) Effect of differences: Nondeductible meals and entertainment 77 90 161 Executive compensation limitation — 258 — Federal tax credits (545 ) (286 ) (200 ) Reserve for uncertain tax positions 39 27 8 Change in valuation allowance (3,400 ) 3,990 6,470 Tax reform — — 1,749 Stock-based compensation 86 82 146 Other items (68 ) (134 ) 8 Income tax provision (benefit) $ (657 ) $ (831 ) $ 7,509 |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | Significant components of the Company's deferred tax assets and liabilities are as follows: 2019 2018 Deferred tax assets: Inventories $ 3,336 $ 4,128 Retirement benefits 1,394 1,718 State net operating losses 3,362 4,142 Federal net operating losses 715 4,560 State tax credit carryforwards 1,688 1,688 Federal tax credit carryforwards 4,282 3,721 Allowances for bad debts, claims and discounts 1,978 2,199 Other 4,039 5,646 Total deferred tax assets 20,794 27,802 Valuation allowance (13,264 ) (16,993 ) Net deferred tax assets 7,530 10,809 Deferred tax liabilities: Property, plant and equipment 7,621 11,377 Total deferred tax liabilities 7,621 11,377 Net deferred tax liability $ (91 ) $ (568 ) |
Summary of Income Tax Contingencies [Table Text Block] | The following is a summary of the change in the Company's unrecognized tax benefits: 2019 2018 2017 Balance at beginning of year $ 441 $ 414 $ 406 Additions based on tax positions taken during a current period 39 27 8 Reductions related to settlement of tax matters — — — Balance at end of year $ 480 $ 441 $ 414 |
Common Stock and Earnings (Lo_2
Common Stock and Earnings (Loss) Per Share (Tables) | 12 Months Ended |
Dec. 28, 2019 | |
Earnings Per Share, Basic and Diluted [Abstract] | |
Schedule of Earnings Per Share Reconciliation [Table Text Block] | The following table sets forth the computation of basic and diluted earnings (loss) per share from continuing operations: 2019 2018 2017 Basic earnings (loss) per share: Income (loss) from continuing operations $ 15,619 $ (21,479 ) $ (9,322 ) Less: Allocation of earnings to participating securities (468 ) — — Income (loss) from continuing operations available to common shareholders - basic $ 15,151 $ (21,479 ) $ (9,322 ) Basic weighted-average shares outstanding (1) 15,822 15,764 15,699 Basic earnings (loss) per share - continuing operations $ 0.96 $ (1.36 ) $ (0.59 ) Diluted earnings (loss) per share: Income (loss) from continuing operations available to common shareholders - basic $ 15,151 $ (21,479 ) $ (9,322 ) Add: Undistributed earnings reallocated to unvested shareholders 3 — — Income (loss) from continuing operations available to common shareholders - basic $ 15,154 $ (21,479 ) $ (9,322 ) Basic weighted-average shares outstanding (1) 15,822 15,764 15,699 Effect of dilutive securities: Stock options (2) — — — Directors' stock performance units (2) 104 — — Diluted weighted-average shares outstanding (1)(2) 15,926 15,764 15,699 Diluted earnings (loss) per share - continuing operations $ 0.95 $ (1.36 ) $ (0.59 ) (1) Includes Common and Class B Common shares, excluding 461 , 570 , and 434 unvested participating securities, in thousands, for 2019, 2018, and 2017, respectively. (2) Shares issuable under stock option plans where the exercise price is greater than the average market price of the Company's Common Stock during the relevant period and directors' stock performance units have been excluded to the extent they are anti-dilutive. Aggregate shares excluded were 166 in 2019 , 422 in 2018 and 448 in 2017 . |
Stock Plans and Stock Compens_2
Stock Plans and Stock Compensation Expense (Tables) | 12 Months Ended |
Dec. 28, 2019 | |
Share-based Payment Arrangement, Noncash Expense [Abstract] | |
Share-based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity [Table Text Block] | Restricted stock activity for the three years ended December 28, 2019 is summarized as follows: Number of Shares Weighted-Average Grant-Date Fair Value Outstanding at December 31, 2016 457,378 $ 7.41 Granted 60,000 3.70 Vested (78,908 ) 8.79 Forfeited (4,629 ) 5.96 Outstanding at December 30, 2017 433,841 6.66 Granted 307,292 2.77 Vested (64,939 ) 6.58 Forfeited (106,196 ) 9.51 Outstanding at December 29, 2018 569,998 4.04 Vested (90,791 ) 2.83 Forfeited (17,784 ) 3.48 Outstanding at December 28, 2019 461,423 $ 4.30 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | The following weighted-average assumptions were used to estimate the fair value of stock options granted: 2019 (1) 2018 (1) 2017 Expected Volatility — % — % 47.80 % Risk-free interest rate — % — % 1.79 % Dividend yield — % — % — % Expected life of options (yrs) 0 0 5 (1) No options were granted during the years ended December 28, 2019 and December 29, 2018. |
Share-based Payment Arrangement, Option, Activity [Table Text Block] | Option activity for the three years ended December 28, 2019 is summarized as follows: Number of Shares Weighted-Average Exercise Price Weighted-Average Remaining Contractual Life (in years) Weighted-Average Fair Value of Options Granted During the Year Outstanding at December 31, 2016 103,500 $ 5.00 $ — Granted 203,000 4.30 1.51 Exercised — — — Forfeited — — — Outstanding at December 30, 2017 306,500 4.54 — Granted — — — Exercised — — — Forfeited (8,000 ) 4.17 — Outstanding at December 29, 2018 298,500 4.55 — Granted — — — Exercised — — — Forfeited (132,500 ) 4.82 — Outstanding at December 28, 2019 166,000 4.33 2.40 $ — Options exercisable at: December 30, 2017 103,500 $ 5.00 — December 29, 2018 103,500 5.00 — December 28, 2019 166,000 4.33 2.40 — |
Accumulated Other Comprehensi_2
Accumulated Other Comprehensive Income (Loss) (Tables) | 12 Months Ended |
Dec. 28, 2019 | |
Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Components of accumulated other comprehensive income (loss), net of tax, are as follows: Interest Rate Swaps Post-Retirement Liabilities Total Balance at December 31, 2016 (2,216 ) 256 (1,960 ) Unrealized gain on interest rate swaps, net of tax of $68 112 — 112 Reclassification of loss into earnings from interest rate swaps, net of tax of $475 775 — 775 Unrecognized net actuarial gain on postretirement benefit plans, net of tax of $4 — 7 7 Reclassification of net actuarial gain into earnings from postretirement benefit plans, net of tax of $11 — (19 ) (19 ) Reclassification of prior service credits into earnings from postretirement benefit plans, net of tax of $1 — (3 ) (3 ) Reclassification of stranded tax effects (258 ) 47 (211 ) Balance at December 30, 2017 (1,587 ) 288 (1,299 ) Unrealized gain on interest rate swaps, net of tax of $0 531 — 531 Reclassification of loss into earnings from interest rate swaps, net of tax of $0 673 — 673 Unrecognized net actuarial gain on postretirement benefit plans, net of tax of $0 — 18 18 Reclassification of net actuarial gain into earnings from postretirement benefit plans, net of tax of $0 — (27 ) (27 ) Reclassification of prior service credits into earnings from postretirement benefit plans, net of tax of $0 — (4 ) (4 ) Balance at December 29, 2018 (383 ) 275 (108 ) Unrealized gain on interest rate swaps, net of tax of $0 (1,109 ) — (1,109 ) Reclassification of loss into earnings from interest rate swaps, net of tax of $10 444 — 444 Unrecognized net actuarial gain on postretirement benefit plans, net of tax of $0 — (6 ) (6 ) Reclassification of net actuarial gain into earnings from postretirement benefit plans, net of tax of $0 — (27 ) (27 ) Reclassification of prior service credits into earnings from postretirement benefit plans, net of tax of $0 — (2 ) (2 ) Balance at December 28, 2019 $ (1,048 ) $ 240 $ (808 ) |
Other (Income) Expense, Net (Ta
Other (Income) Expense, Net (Tables) | 12 Months Ended |
Dec. 28, 2019 | |
Other (Income) Expense [Abstract] | |
Schedule of Other Operating Cost and Expense, by Component [Table Text Block] | Other operating expense, net is summarized as follows: 2019 2018 2017 Other operating expense, net: (Gain) loss on property, plant and equipment disposals $ 353 $ (1,047 ) $ 170 Gain on sale of building (25,121 ) — — (Gain) loss on currency exchanges 41 126 (72 ) Amortization of intangibles — 305 306 Retirement expenses 72 64 155 Miscellaneous (income) expense 667 1,010 (118 ) Other operating expense, net $ (23,988 ) $ 458 $ 441 |
Schedule of Other Nonoperating Income (Expense) [Table Text Block] | Other (income) expense, net is summarized as follows: 2019 2018 2017 Other (income) expense, net: Interest Income $ (49 ) $ — $ — Post-retirement income (14 ) (15 ) (18 ) Miscellaneous (income) expense 6 18 39 Other (income) expense, net $ (57 ) $ 3 $ 21 |
Facility Consolidation and Se_2
Facility Consolidation and Severance Expenses, Net (Tables) | 12 Months Ended |
Dec. 28, 2019 | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Costs [Table Text Block] | Costs related to the facility consolidation plans are summarized as follows: As of December 28, 2019 Accrued Balance at December 29, 2018 2019 Expenses (1) 2019 Cash Payments Accrued Balance at December 28, 2019 Total Costs Incurred to Date Total Expected Costs Corporate Office Consolidation Plan 98 13 73 38 829 829 Profit Improvement Plan 846 5,006 5,547 305 8,800 8,800 Total All Plans $ 944 $ 5,019 $ 5,620 $ 343 $ 9,629 $ 9,629 Asset Impairments $ — $ 3 $ — $ — $ 3,323 $ 3,323 Accrued Balance at December 30, 2017 2018 Expenses (1) 2018 Cash Payments Accrued Balance at December 29, 2018 Corporate Office Consolidation Plan 171 9 82 98 Profit Improvement Plan $ 334 $ 3,158 $ 2,646 $ 846 Total All Plans $ 505 $ 3,167 $ 2,728 $ 944 Asset Impairments $ — $ 3,320 $ — $ — (1) Costs incurred under these plans are classified as "facility consolidation and severance expenses, net" in the Company's Consolidated Statements of Operations. |
Discontinued Operations (Tables
Discontinued Operations (Tables) | 12 Months Ended |
Dec. 28, 2019 | |
Discontinued Operations and Disposal Groups [Abstract] | |
Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures [Table Text Block] | Discontinued operations are summarized as follows: 2019 2018 2017 Income (loss) from discontinued operations: Workers' compensation costs from former textile operations $ 38 $ 212 $ (155 ) Environmental remediation costs from former textile operations (386 ) (117 ) (225 ) Income (loss) from discontinued operations, before taxes $ (348 ) $ 95 $ (380 ) Income tax benefit — — (147 ) Income (loss) from discontinued operations, net of tax $ (348 ) $ 95 $ (233 ) |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies Market and Credit Risk (Details) - customers | 12 Months Ended | ||
Dec. 28, 2019 | Dec. 29, 2018 | Dec. 30, 2017 | |
Concentration Risk [Line Items] | |||
Number of customers | 1 | ||
Revenue Benchmark [Member] | |||
Concentration Risk [Line Items] | |||
Concentration Risk, Percentage | 11.00% | 13.00% | 14.00% |
Credit Concentration Risk [Member] | |||
Concentration Risk [Line Items] | |||
Concentration Risk, Percentage | 18.00% | 34.00% | 31.00% |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies Property Plant and Equipment (Details) | 12 Months Ended |
Dec. 28, 2019 | |
Building and Building Improvements [Member] | Minimum [Member] | |
Property, Plant and Equipment [Line Items] | |
Property, Plant and Equipment, Useful Life | 10 years |
Building and Building Improvements [Member] | Maximum [Member] | |
Property, Plant and Equipment [Line Items] | |
Property, Plant and Equipment, Useful Life | 40 years |
Machinery and Equipment [Member] | Minimum [Member] | |
Property, Plant and Equipment [Line Items] | |
Property, Plant and Equipment, Useful Life | 3 years |
Machinery and Equipment [Member] | Maximum [Member] | |
Property, Plant and Equipment [Line Items] | |
Property, Plant and Equipment, Useful Life | 10 years |
Summary of Significant Accoun_5
Summary of Significant Accounting Policies Finite-Lived Intangible Assets (Details) | 12 Months Ended |
Dec. 28, 2019 | |
Minimum [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Finite-Lived Intangible Asset, Useful Life | 10 years |
Maximum [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Finite-Lived Intangible Asset, Useful Life | 20 years |
Recent Accounting Pronounceme_2
Recent Accounting Pronouncements (Details) - USD ($) $ in Thousands | Dec. 28, 2019 | Dec. 30, 2018 | Dec. 29, 2018 |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
OPERATING LEASE RIGHT-OF-USE ASSETS | $ 24,835 | $ 9,401 | $ 0 |
Operating Lease, Liability | $ 25,295 | $ 9,842 |
Revenue Disaggregation of Reven
Revenue Disaggregation of Revenue (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 28, 2019 | Dec. 29, 2018 | Dec. 30, 2017 | |
Disaggregation of Revenue [Line Items] | |||
NET SALES | $ 374,582 | $ 405,033 | $ 412,462 |
Residential Floorcovering Products [Member] | |||
Disaggregation of Revenue [Line Items] | |||
NET SALES | 268,186 | 289,129 | 279,038 |
Commercial Floorcovering Products [Member] | |||
Disaggregation of Revenue [Line Items] | |||
NET SALES | 103,286 | 113,971 | 131,372 |
Other Segments [Member] | |||
Disaggregation of Revenue [Line Items] | |||
NET SALES | $ 3,110 | $ 1,933 | $ 2,052 |
Revenue Contract Balances (Deta
Revenue Contract Balances (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 28, 2019 | Dec. 29, 2018 | Dec. 30, 2017 | |
Revenue from Contract with Customer [Abstract] | |||
Beginning contract liability | $ 6,013 | $ 5,717 | $ 8,212 |
Revenue recognized from contract liabilities included in the beginning balance | (5,873) | (5,717) | (7,820) |
Increases due to cash received, net of amounts recognized in revenue during the period | 4,545 | 6,013 | 5,325 |
Ending contract liability | $ 4,685 | $ 6,013 | $ 5,717 |
Receivables, Net (Details)
Receivables, Net (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 28, 2019 | Dec. 29, 2018 | Dec. 30, 2017 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Customers, trade | $ 34,285 | $ 40,121 | |
Other receivables | 3,115 | 2,595 | |
Gross receivables | 37,400 | 42,716 | |
Less: allowance for doubtful accounts | (262) | (174) | |
Receivables, net | 37,138 | 42,542 | |
Bad debt expense | $ 240 | $ 163 | $ 70 |
Inventories, Net (Details)
Inventories, Net (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 28, 2019 | Dec. 29, 2018 | |
Inventory Disclosure [Abstract] | ||
Raw materials | $ 32,377 | $ 36,875 |
Work-in-process | 18,642 | 20,274 |
Finished goods | 64,978 | 67,085 |
Supplies and other | 260 | 190 |
LIFO reserve | (20,748) | (19,229) |
Inventories | 95,509 | $ 105,195 |
Effect of LIFO Inventory Liquidation on Income | $ 281 |
Property, Plant and Equipment_3
Property, Plant and Equipment, Net (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 28, 2019 | Dec. 29, 2018 | Dec. 30, 2017 | |
Property, Plant and Equipment [Line Items] | |||
Land and improvements | $ 3,422 | $ 8,528 | |
Buildings and improvements | 51,432 | 63,389 | |
Machinery and equipment | 179,993 | 183,900 | |
Assets under construction | 1,459 | 2,675 | |
Property, plant and equipment, gross | 236,306 | 258,492 | |
Accumulated depreciation | (170,864) | (174,381) | |
Property, plant and equipment, net | 65,442 | 84,111 | |
Depreciation | $ 11,219 | $ 12,141 | $ 12,436 |
Goodwill and Other Intangible_3
Goodwill and Other Intangible Assets (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 28, 2019 | Dec. 29, 2018 | Dec. 30, 2017 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |||
Goodwill | $ 0 | $ 0 | |
Goodwill, Impairment Loss | $ 0 | $ 3,389 | $ 0 |
Goodwill and Other Intangible_4
Goodwill and Other Intangible Assets Schedule of Intangible Assets (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 28, 2019 | Dec. 29, 2018 | Dec. 30, 2017 | |
Finite-Lived Intangible Assets [Line Items] | |||
Gross | $ 3,652 | ||
Accumulated Amortization | (1,496) | ||
Impairment | (2,156) | ||
Net | 0 | ||
Amortization expense | $ 0 | 305 | $ 306 |
Customer Relationships [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Gross | 208 | ||
Accumulated Amortization | (96) | ||
Impairment | (112) | 0 | |
Net | 0 | ||
Amortization expense | 0 | 16 | 16 |
Rug Design Coding [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Gross | 144 | ||
Accumulated Amortization | (86) | ||
Impairment | (58) | ||
Net | 0 | ||
Amortization expense | 0 | 14 | 15 |
Trade Names [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Gross | 3,300 | ||
Accumulated Amortization | (1,314) | ||
Impairment | (1,986) | ||
Net | 0 | ||
Amortization expense | $ 0 | $ 275 | $ 275 |
Accrued Expenses (Details)
Accrued Expenses (Details) - USD ($) $ in Thousands | Dec. 28, 2019 | Dec. 29, 2018 | |
Payables and Accruals [Abstract] | |||
Compensation and benefits (1) | $ 8,804 | [1] | $ 8,186 |
Provision for customer rebates, claims and allowances | 7,682 | 9,300 | |
Advanced customer deposits | 4,685 | 6,013 | |
Outstanding checks in excess of cash | 0 | 3,141 | |
Other | 4,247 | 4,212 | |
Accrued expenses | 25,418 | $ 30,852 | |
Letters of Credit Outstanding, Amount | $ 2,744 | ||
[1] | Includes a liability related to the Company's self-insured Workers' Compensation program. This program is collateralized by letters of credit in the aggregate amount of $2,744. |
Product Warranty Reserves (Deta
Product Warranty Reserves (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 28, 2019 | Dec. 29, 2018 | |
Product Warranties Disclosures [Abstract] | ||
Product warranty reserve at beginning of period | $ 1,069 | $ 1,173 |
Warranty liabilities accrued | 1,667 | 2,341 |
Warranty liabilities settled | (1,695) | (2,380) |
Changes for pre-existing warranty liabilities | (39) | (65) |
Product warranty reserve at end of period | $ 1,002 | $ 1,069 |
Long-Term Debt and Credit Arr_3
Long-Term Debt and Credit Arrangements (Details) - USD ($) $ in Thousands | Dec. 28, 2019 | Dec. 29, 2018 |
Debt Instrument [Line Items] | ||
Revolving credit facility | $ 59,693 | $ 99,219 |
Notes payable - buildings | 6,213 | 11,688 |
Notes payable - equipment and other | 3,533 | 5,528 |
Finance lease - buildings | 11,296 | 0 |
Finance lease obligations | 8,187 | 12,096 |
Deferred financing costs, net | (571) | (486) |
Total long-term debt | 88,351 | 128,045 |
Less: current portion of long-term debt | 6,684 | 7,794 |
Long-term debt | $ 81,667 | $ 120,251 |
Long-Term Debt and Credit Arr_4
Long-Term Debt and Credit Arrangements (Revolving Credit Facility) (Details) - Amended Revolving Credit Facility [Member] $ in Thousands | 12 Months Ended | |
Dec. 28, 2019USD ($)Rate | Dec. 29, 2018 | |
Line of Credit Facility [Line Items] | ||
Basis Spread on Variable Rate at End of Period | Rate | 1.75% | |
Commitment Fee Percentage | Rate | 0.375% | |
Debt, Weighted Average Interest Rate | 4.79% | 4.58% |
Fixed Charge Coverage Ratio | 1.1 | |
Current Borrowing Capacity Accessible to the Company | $ 18,787 | |
Line of Credit Facility, Amended Minimum Borrowing Capacity for No Financial Covenants | 15,000 | |
Remaining Borrowing Capacity | 33,787 | |
Minimum [Member] | ||
Line of Credit Facility [Line Items] | ||
Line of Credit Facility, Increase (Decrease), Other, Net | 0 | |
Maximum [Member] | ||
Line of Credit Facility [Line Items] | ||
Line of Credit Facility, Increase (Decrease), Other, Net | 5,000 | |
Median [Member] | ||
Line of Credit Facility [Line Items] | ||
Line of Credit Facility, Increase (Decrease), Other, Net | $ 2,500 | |
Alternative [Member] | Minimum [Member] | Libor [Member] | ||
Line of Credit Facility [Line Items] | ||
Basis Spread on Variable Rate | Rate | 1.50% | |
Alternative [Member] | Maximum [Member] | Libor [Member] | ||
Line of Credit Facility [Line Items] | ||
Basis Spread on Variable Rate | Rate | 2.00% | |
Alternative B [Member] | Federal Funds [Member] | ||
Line of Credit Facility [Line Items] | ||
Basis Spread on Variable Rate | Rate | 0.50% | |
Alternative B [Member] | Daily Libor [Member] | ||
Line of Credit Facility [Line Items] | ||
Basis Spread on Variable Rate | Rate | 1.00% | |
Alternative B [Member] | Minimum [Member] | Daily Libor [Member] | ||
Line of Credit Facility [Line Items] | ||
Basis Spread on Variable Rate | Rate | 0.50% | |
Alternative B [Member] | Maximum [Member] | Daily Libor [Member] | ||
Line of Credit Facility [Line Items] | ||
Basis Spread on Variable Rate | Rate | 1.00% | |
Before Amendment [Member] | ||
Line of Credit Facility [Line Items] | ||
Maximum Borrowing Capacity | $ 150,000 | |
Line of Credit Facility, Amended Minimum Borrowing Capacity for No Financial Covenants | 16,500 | |
After Amendment [Member] | ||
Line of Credit Facility [Line Items] | ||
Maximum Borrowing Capacity | 120,000 | |
Line of Credit Facility, Amended Minimum Borrowing Capacity for No Financial Covenants | $ 15,000 |
Long-Term Debt and Credit Arr_5
Long-Term Debt and Credit Arrangements (Notes Payable - Buildings) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 28, 2019 | Dec. 29, 2018 | Nov. 07, 2014 | |
Debt Instrument [Line Items] | |||
Notes payable - buildings | $ 6,213 | $ 11,688 | |
Building - Adairsville [Member] | |||
Debt Instrument [Line Items] | |||
Notes payable - buildings | $ 8,330 | ||
Debt Instrument, Interest Rate, Stated Percentage | 2.00% | ||
Debt Instrument, Periodic Payment, Principal | $ 35 | ||
Final Payment on Debt Instument | $ 4,165 | ||
Fixed Interest Rate | 4.50% |
Long-Term Debt and Credit Arr_6
Long-Term Debt and Credit Arrangements (Notes Payable - Equipment and Other) (Details) - Equipment Note Payable [Member] | 12 Months Ended |
Dec. 28, 2019yrRate | |
Minimum [Member] | |
Debt Instrument [Line Items] | |
Debt Instrument, Interest Rate, Stated Percentage | Rate | 1.00% |
Term of Note Payable | yr | 1 |
Maximum [Member] | |
Debt Instrument [Line Items] | |
Debt Instrument, Interest Rate, Stated Percentage | Rate | 7.68% |
Term of Note Payable | yr | 7 |
Long-Term Debt and Credit Arr_7
Long-Term Debt and Credit Arrangements Finance Lease - Buildings (Details) $ in Thousands | 12 Months Ended |
Dec. 28, 2019USD ($)Rate | |
Debt Instrument [Line Items] | |
Finance Lease, Liability, Payments, Due Next Twelve Months | $ 5,207 |
Rent escalation | Rate | 2.00% |
Finance Lease - Saraland Building [Member] | |
Debt Instrument [Line Items] | |
Lessee - Finance Lease, Selling Price of Building | $ 11,500 |
Lessee, Finance Lease, Term of Contract | 20 years |
Finance Lease, Liability, Payments, Due Next Twelve Months | $ 977 |
Rent escalation | Rate | 1.25% |
Lessee, Finance Lease, Renewal Term | 10 years |
Repayments of Debt | $ 5,000 |
Long-Term Debt and Credit Arr_8
Long-Term Debt and Credit Arrangements (Finance Lease Obligations) (Details) - Finance Lease Obligations [Member] | 12 Months Ended |
Dec. 28, 2019yrRate | |
Minimum [Member] | |
Debt Instrument [Line Items] | |
Debt Instrument, Interest Rate, Stated Percentage | Rate | 3.55% |
Term of Capital Lease Obligation (in months) | yr | 3 |
Maximum [Member] | |
Debt Instrument [Line Items] | |
Debt Instrument, Interest Rate, Stated Percentage | Rate | 7.76% |
Term of Capital Lease Obligation (in months) | yr | 7 |
Long-Term Debt and Credit Arr_9
Long-Term Debt and Credit Arrangements (Interest payments and debt maturities) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 28, 2019 | Dec. 29, 2018 | Dec. 30, 2017 | |
Debt Instrument [Line Items] | |||
Interest paid | $ 6,303 | $ 6,290 | $ 5,373 |
Finance Lease, Interest Payment on Liability | 1,378 | 791 | $ 611 |
Maturities of Long-term Debt [Abstract] | |||
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months | 6,684 | ||
Long-term Debt, Maturities, Repayments of Principal in Year Two | 64,508 | ||
Long-term Debt, Maturities, Repayments of Principal in Year Three | 1,896 | ||
Long-term Debt, Maturities, Repayments of Principal in Year Four | 951 | ||
Long-term Debt, Maturities, Repayments of Principal in Year Five | 704 | ||
Long-term Debt, Maturities, Repayments of Principal after Year Five | 14,179 | ||
Long-term Debt | 88,922 | ||
Deferred financing costs, net | (571) | (486) | |
Total long-term debt | 88,351 | $ 128,045 | |
Long-term Debt [Member] | |||
Maturities of Long-term Debt [Abstract] | |||
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months | 2,673 | ||
Long-term Debt, Maturities, Repayments of Principal in Year Two | 61,116 | ||
Long-term Debt, Maturities, Repayments of Principal in Year Three | 687 | ||
Long-term Debt, Maturities, Repayments of Principal in Year Four | 416 | ||
Long-term Debt, Maturities, Repayments of Principal in Year Five | 382 | ||
Long-term Debt, Maturities, Repayments of Principal after Year Five | 4,165 | ||
Long-term Debt | 69,439 | ||
Deferred financing costs, net | (571) | ||
Total long-term debt | 68,868 | ||
Finance Lease Obligations [Member] | |||
Maturities of Long-term Debt [Abstract] | |||
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months | 4,011 | ||
Long-term Debt, Maturities, Repayments of Principal in Year Two | 3,392 | ||
Long-term Debt, Maturities, Repayments of Principal in Year Three | 1,209 | ||
Long-term Debt, Maturities, Repayments of Principal in Year Four | 535 | ||
Long-term Debt, Maturities, Repayments of Principal in Year Five | 322 | ||
Long-term Debt, Maturities, Repayments of Principal after Year Five | 10,014 | ||
Long-term Debt | 19,483 | ||
Deferred financing costs, net | 0 | ||
Total long-term debt | $ 19,483 |
Leases Lessee's Schedule Of Bal
Leases Lessee's Schedule Of Balance Sheet Information For Operating And Financing Leases (Details) - USD ($) $ in Thousands | Dec. 28, 2019 | Dec. 30, 2018 | Dec. 29, 2018 |
Lessee's Schedule Of Balance Sheet Information [Abstract] | |||
OPERATING LEASE RIGHT-OF-USE ASSETS | $ 24,835 | $ 9,401 | $ 0 |
Current portion of operating lease liabilities | 3,172 | 0 | |
OPERATING LEASE LIABILITIES | 22,123 | $ 0 | |
Operating Lease, Liability | 25,295 | $ 9,842 | |
Finance Lease, Right-of-Use Asset | 15,152 | ||
Finance Lease, Liability, Current | 4,011 | ||
Finance Lease, Liability, Noncurrent | 15,472 | ||
Finance Lease, Liability | $ 19,483 |
Leases Lease, Cost (Details)
Leases Lease, Cost (Details) $ in Thousands | 12 Months Ended |
Dec. 28, 2019USD ($) | |
Leases [Abstract] | |
Operating lease cost | $ 3,528 |
Finance Lease, Right-of-Use Asset, Amortization | 3,000 |
Finance Lease, Interest Expense | 1,378 |
Finance Lease Cost | $ 4,378 |
Leases Other Supplemental Infor
Leases Other Supplemental Information Related to Leases (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 28, 2019 | Dec. 29, 2018 | Dec. 30, 2017 | |
Leases [Abstract] | |||
Operating Lease, Weighted Average Remaining Lease Term | 8 years 5 months 3 days | ||
Finance Lease, Weighted Average Remaining Lease Term | 12 years 10 days | ||
Operating Lease, Weighted Average Discount Rate, Percent | 6.98% | ||
Finance Lease, Weighted Average Discount Rate, Percent | 6.72% | ||
Operating Lease, Payments | $ 3,518 | ||
Finance Lease, Interest Payment on Liability | 1,378 | $ 791 | $ 611 |
Finance Lease, Principal Payments | $ 4,166 |
Leases Finance And Operating Le
Leases Finance And Operating Lease Maturity (Details) - USD ($) $ in Thousands | Dec. 28, 2019 | Dec. 30, 2018 |
Lessee, Operating Lease, Liability, Payment, Due [Abstract] | ||
Lessee, Operating Lease, Liability, Payments, Due Next Twelve Months | $ 4,833 | |
Lessee, Operating Lease, Liability, Payments, Due Year Two | 4,455 | |
Lessee, Operating Lease, Liability, Payments, Due Year Three | 4,062 | |
Lessee, Operating Lease, Liability, Payments, Due Year Four | 3,190 | |
Lessee, Operating Lease, Liability, Payments, Due Year Five | 2,883 | |
Lessee, Operating Lease, Liability, Payments, Due after Year Five | 14,465 | |
Lessee, Operating Lease, Liability, Payments, Due | 33,888 | |
Lessee, Operating Lease, Liability, Undiscounted Excess Amount | (8,593) | |
Operating Lease, Liability | 25,295 | $ 9,842 |
Finance Lease, Liability, Payment, Due [Abstract] | ||
Finance Lease, Liability, Payments, Due Next Twelve Months | 5,207 | |
Finance Lease, Liability, Payments, Due Year Two | 4,347 | |
Finance Lease, Liability, Payments, Due Year Three | 2,015 | |
Finance Lease, Liability, Payments, Due Year Four | 1,283 | |
Finance Lease, Liability, Payments, Due Year Five | 1,042 | |
Finance Lease, Liability, Payments, Due after Year Five | 16,041 | |
Finance Lease, Liability, Payment, Due | 29,935 | |
Finance Lease, Liability, Undiscounted Excess Amount | (10,452) | |
Finance Lease, Liability | $ 19,483 |
Leases Sale and Lease Back (Det
Leases Sale and Lease Back (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 28, 2019 | Dec. 29, 2018 | Dec. 30, 2017 | |
Leases [Abstract] | |||
Proceeds from sale of assets held for sale | $ 37,195 | ||
Gains (Losses) on Sales of Other Real Estate | $ 25,121 | $ 0 | $ 0 |
Lessee, Operating Lease, Term of Contract | 10 years | ||
Lessee, Operating Lease, Renewal Term | 5 years | ||
Lessee, Operating Lease, Payments for Rent | $ 2,083 | ||
Rent escalation | 2.00% |
Leases Schedule of Maturities o
Leases Schedule of Maturities of Long-term Debt (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 29, 2018 | Dec. 30, 2017 | Dec. 28, 2019 | |
Debt Instrument [Line Items] | |||
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months | $ 6,684 | ||
Long-term Debt, Maturities, Repayments of Principal in Year Two | 64,508 | ||
Long-term Debt, Maturities, Repayments of Principal in Year Three | 1,896 | ||
Long-term Debt, Maturities, Repayments of Principal in Year Four | 951 | ||
Long-term Debt, Maturities, Repayments of Principal in Year Five | 704 | ||
Long-term Debt, Maturities, Repayments of Principal after Year Five | 14,179 | ||
Total commitments | 88,922 | ||
Total | $ 128,045 | $ 88,351 | |
Finance Lease Obligations Under 840 [Member] | |||
Debt Instrument [Line Items] | |||
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months | 4,590 | ||
Long-term Debt, Maturities, Repayments of Principal in Year Two | 4,205 | ||
Long-term Debt, Maturities, Repayments of Principal in Year Three | 3,333 | ||
Long-term Debt, Maturities, Repayments of Principal in Year Four | 989 | ||
Long-term Debt, Maturities, Repayments of Principal in Year Five | 244 | ||
Long-term Debt, Maturities, Repayments of Principal after Year Five | 0 | ||
Total commitments | 13,361 | ||
Capital Leases, Future Minimum Payments, Interest Included in Payments | (1,265) | ||
Total | 12,096 | ||
Operating Lease Obligations Under 840 [Member] | |||
Debt Instrument [Line Items] | |||
Operating Leases, Rent Expense | 4,453 | $ 3,687 | |
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months | 3,002 | ||
Long-term Debt, Maturities, Repayments of Principal in Year Two | 2,533 | ||
Long-term Debt, Maturities, Repayments of Principal in Year Three | 2,121 | ||
Long-term Debt, Maturities, Repayments of Principal in Year Four | 1,667 | ||
Long-term Debt, Maturities, Repayments of Principal in Year Five | 882 | ||
Long-term Debt, Maturities, Repayments of Principal after Year Five | 3,155 | ||
Total commitments | 13,360 | ||
Capital Leases, Future Minimum Payments, Interest Included in Payments | 0 | ||
Total | $ 13,360 |
Fair Value Measurements (Fair V
Fair Value Measurements (Fair Value Measurements - Assets and Liabilities Measured on Recurring and Nonrecurring Basis) (Details) - Fair Value, Recurring [Member] - Fair Value, Inputs, Level 2 [Member] - USD ($) $ in Thousands | Dec. 28, 2019 | Dec. 29, 2018 | |
Assets, Fair Value Disclosure [Abstract] | |||
Interest rate swaps (1) | [1] | $ 0 | $ 36 |
Liabilities, Fair Value Disclosure [Abstract] | |||
Interest rate swaps (1) | [1] | $ 1,653 | $ 1,008 |
[1] | The Company uses certain external sources in deriving the fair value of the interest rate swaps. The interest rate swaps were valued using observable inputs (e.g., LIBOR yield curves, credit spreads). Valuations of interest rate swaps may fluctuate considerably from period-to-period due to volatility in underlying interest rates, which are driven by market conditions and the duration of the instrument. Credit adjustments could have a significant impact on the valuations due to changes in credit ratings of the Company or its counterparties. |
Fair Value Measurements (Fair_2
Fair Value Measurements (Fair Value Measurements - Liabilities Measured on Recurring Basis Unobservable Input Reconciliation) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 28, 2019 | Dec. 29, 2018 | |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Beginning balance | $ 0 | $ 25 |
Fair value adjustments | 0 | 1 |
Settlements | 0 | (26) |
Ending balance | $ 0 | $ 0 |
Fair Value Measurements (Fair_3
Fair Value Measurements (Fair Value Measurements - Carrying Amount and Fair Value) (Details) - USD ($) $ in Thousands | Dec. 28, 2019 | Dec. 30, 2018 | Dec. 29, 2018 |
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract] | |||
Finance Lease, Liability | $ 19,483 | ||
Operating Lease, Liability | 25,295 | $ 9,842 | |
Carrying (Reported) Amount, Fair Value Disclosure [Member] | |||
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract] | |||
Cash and cash equivalents | 769 | $ 18 | |
Notes receivable, including current portion | 0 | 282 | |
Interest rate swaps | 0 | 36 | |
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract] | |||
Long-term debt and capital leases, including current portion | 68,868 | 115,949 | |
Finance Lease, Liability | 19,483 | 12,096 | |
Operating Lease, Liability | 25,295 | 0 | |
Interest rate swaps | 1,653 | 1,008 | |
Estimate of Fair Value, Fair Value Disclosure [Member] | |||
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract] | |||
Cash and cash equivalents | 769 | 18 | |
Notes receivable, including current portion | 0 | 282 | |
Interest rate swaps | 0 | 36 | |
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract] | |||
Long-term debt and capital leases, including current portion | 72,115 | 112,519 | |
Finance Lease, Liability | 20,361 | 11,723 | |
Operating Lease, Liability | 25,295 | 0 | |
Interest rate swaps | $ 1,653 | $ 1,008 |
Derivatives (Summary of Derivat
Derivatives (Summary of Derivative Instruments) (Details) - Interest Rate Swap [Member] $ in Thousands | Dec. 28, 2019USD ($)Rate | |
Effective September 1, 2016 through September 1, 2021 [Member] | ||
Derivative [Line Items] | ||
Notional Amount | $ | $ 25,000 | |
Fixed Interest Rate | Rate | 3.105% | |
Effective September 1, 2015 through September 1, 2021 [Member] | ||
Derivative [Line Items] | ||
Notional Amount | $ | $ 25,000 | |
Fixed Interest Rate | Rate | 3.304% | |
November 7, 2014 through November 7, 2024 [Member] | ||
Derivative [Line Items] | ||
Notional Amount | $ | $ 6,213 | [1] |
Fixed Interest Rate | Rate | 4.50% | |
[1] | Interest rate swap notional amount amortizes by $35 monthly to maturity. |
Derivatives (Derivatives - Fair
Derivatives (Derivatives - Fair Value and Designation) (Details) - USD ($) $ in Thousands | Dec. 28, 2019 | Dec. 29, 2018 |
Derivative Asset, Fair Value, Net [Abstract] | ||
Interest rate swaps | $ 0 | $ 36 |
Derivative Liability, Fair Value, Net [Abstract] | ||
Interest rate swaps | 1,653 | 1,008 |
Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | Prepaids and other current assets | ||
Derivative Asset, Fair Value, Net [Abstract] | ||
Interest rate swaps | 0 | 14 |
Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | Other Assets | ||
Derivative Asset, Fair Value, Net [Abstract] | ||
Interest rate swaps | 0 | 22 |
Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | Accrued Expenses | ||
Derivative Liability, Fair Value, Net [Abstract] | ||
Interest rate swaps | 841 | 335 |
Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | Other Long-Term Liabilities | ||
Derivative Liability, Fair Value, Net [Abstract] | ||
Interest rate swaps | $ 812 | $ 673 |
Derivatives (Schedule of Deriva
Derivatives (Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance) (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 28, 2019 | Dec. 29, 2018 | Dec. 30, 2017 | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Unrealized gain (loss) on interest rate swaps | $ (1,109) | $ 531 | $ 180 | |
Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Unrealized gain (loss) on interest rate swaps | (1,109) | 531 | 180 | |
Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | Interest Expense [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion | [1],[2] | (454) | (673) | (1,250) |
Interest Rate Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months, Net | 841 | |||
Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | Other Expense [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gain (Loss) on Cash Flow Hedge Ineffectiveness | $ 0 | $ 0 | $ 0 | |
[1] | The amount of gain (loss) reclassified from AOCIL is included in interest expense on the Company's Consolidated Statements of Operations. | |||
[2] | The amount of loss expected to be reclassified from AOCIL into earnings during the next 12 months subsequent to fiscal 2019 is $841. |
Employee Benefit Plans (Defined
Employee Benefit Plans (Defined Contribution Plans) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 28, 2019 | Dec. 29, 2018 | Dec. 30, 2017 | |
Non-Collective-Bargaining Plan [Member] | |||
Defined Contribution Plans [Line Items] | |||
Percentage of Employees Covered | 85.00% | ||
Employer Matching Contribution, Percentage | 1.00% | ||
Employer Matching Contribution, Discretionary Percentage | 2.00% | ||
Maximum Annual Contribution Per Employee, Percentage | 3.00% | ||
Cost Recognized | $ 418 | $ 448 | $ 484 |
Collective-Bargaining Plan [Member] | |||
Defined Contribution Plans [Line Items] | |||
Percentage of Employees Covered | 15.00% | ||
Maximum Annual Contribution Per Employee, Percentage | 2.75% | ||
Cost Recognized | $ 143 | $ 123 | $ 125 |
Employee Benefit Plans (Nonqual
Employee Benefit Plans (Nonqualified Retirement Savings Plan) (Details) - USD ($) $ in Thousands | Dec. 28, 2019 | Dec. 29, 2018 |
Retirement Benefits [Abstract] | ||
Liability to Participants | $ 16,203 | $ 13,943 |
Cash Surrender Value of Life Insurance | $ 16,500 | $ 13,822 |
Employee Benefit Plans (Multi-E
Employee Benefit Plans (Multi-Employer Pension Plan) (Details) $ in Thousands | 12 Months Ended | |||||||
Dec. 28, 2019USD ($) | Dec. 29, 2018USD ($) | Dec. 30, 2017USD ($) | Dec. 31, 2016 | Dec. 26, 2015 | Dec. 27, 2014 | |||
Multiemployer Plans [Line Items] | ||||||||
Multiemployer Plans, Collective-Bargaining Arrangement, Percentage of Participants | 15.00% | |||||||
Multiemployer Plans, Certified Zone Status [Fixed List] | Red | Red | ||||||
Multiemployer Plans, Funding Improvement Plan and Rehabilitation Plan [Fixed List] | [1] | Implemented | ||||||
Contributions | $ 335 | [2] | $ 320 | $ 313 | ||||
Multiemployer Plans, Surcharge [Fixed List] | [1] | Yes | ||||||
Multiemployer Plans, Collective-Bargaining Arrangement, Expiration Date | Jun. 4, 2022 | |||||||
Multiemployer Plans, Employer Contribution Rate Per Hour | 0.47 | |||||||
Multiemployer Plan, Contribution Amount Increase (Decrease) | 0.03 | 0.02 | 0.03 | 0.02 | 0.03 | 0.03 | ||
Defined Benefit Plan, Expected Future Employer Contributions, Next Fiscal Year | $ 342 | |||||||
[1] | The collective-bargaining agreement requires the Company to contribute to the plan at the rate of $0.47 per compensated hour for each covered employee. The Company will make additional contributions, as mandated by law, in accordance with the fund's 2010 Rehabilitation Plan which required a surcharge equal to $0.03 per hour (from $0.47 to $0.50) effective June 1, 2014 to May 31, 2015, a surcharge equal to $0.03 per hour (from $0.50 to $0.53) effective June 1, 2015 to May 31, 2016, a surcharge equal to $0.02 per hour (from $0.53 to $0.55) effective June 1, 2016 to May 31, 2017, a surcharge equal to $0.03 per hour (from $0.55 to $0.58) effective June 1, 2017 to May 31, 2018, a surcharge equal to $0.02 per hour (from $0.58 to $0.60) effective June 1, 2018 to May 31, 2019, and a surcharge equal to $0.03 per hour (from $0.60 to $0.63) effective June 1, 2019 to May 31, 2020. Based upon current employment and benefit levels, the Company's contributions to the multi-employer pension plan are expected to be approximately $342 for 2020. | |||||||
[2] | The Company's contributions to the plan do not represent more than 5% of the total contributions to the plan for the most recent plan year available. |
Employee Benefit Plans (Other P
Employee Benefit Plans (Other Postretirement Plans - Funded Status) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 28, 2019 | Dec. 29, 2018 | Dec. 30, 2017 | |
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | |||
Benefit obligation at beginning of year | $ 331 | $ 325 | |
Service cost | 7 | 8 | $ 7 |
Interest cost | 17 | 17 | 16 |
Actuarial (gain) loss | 6 | (18) | |
Benefits Paid | 1 | 1 | |
Benefit obligation at end of year | 360 | 331 | 325 |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Fair value of plan assets at beginning of year | 0 | 0 | |
Employer contributions | 1 | 1 | |
Benefits Paid | 1 | 1 | |
Fair value of plan assets at end of year | 0 | 0 | 0 |
Unfunded amount | (360) | (331) | |
Defined Benefit Plan, Amounts for Asset (Liability) Recognized in Statement of Financial Position [Abstract] | |||
Accrued expenses | 16 | 15 | |
Other long-term liabilities | 344 | 316 | |
Total liability | 360 | $ 331 | |
Defined Benefit Plan, Expected Future Benefit Payment [Abstract] | |||
Defined Benefit Plan, Expected Future Benefit Payment, Next Twelve Months | 16 | ||
Defined Benefit Plan, Expected Future Benefit Payment, Year Two | 15 | ||
Defined Benefit Plan, Expected Future Benefit Payment, Year Three | 15 | ||
Defined Benefit Plan, Expected Future Benefit Payment, Year Four | 14 | ||
Defined Benefit Plan, Expected Future Benefit Payment, Year Five | 14 | ||
Defined Benefit Plan, Expected Future Benefit Payment, Five Fiscal Years Thereafter | $ 75 | ||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract] | |||
Discount rate (benefit obligation) | 3.50% | 4.00% | |
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract] | |||
Service cost | $ 7 | $ 8 | 7 |
Interest cost | 17 | 17 | 16 |
Amortization of prior service credits | (3) | (4) | (4) |
Recognized net actuarial gains | (27) | (28) | (30) |
Net periodic benefit cost (credit) | (6) | $ (7) | $ (11) |
Defined Benefit Plan, Accumulated Other Comprehensive (Income) Loss, before Tax [Abstract] | |||
Prior service credits | 0 | ||
Unrecognized actuarial gains | (339) | ||
Totals | (339) | ||
Defined Benefit Plan, Expected Amortization, Next Fiscal Year [Abstract] | |||
Prior service credits | (3) | ||
Unrecognized actuarial gains | (27) | ||
Totals | $ (30) |
Income Taxes Components of Inco
Income Taxes Components of Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 28, 2019 | Dec. 29, 2018 | Dec. 30, 2017 | |
Current | |||
Federal | $ (287) | $ (178) | $ 278 |
State | 107 | (116) | (950) |
Total current | (180) | (294) | (672) |
Deferred | |||
Federal | (385) | (434) | 7,535 |
State | (92) | (103) | 646 |
Total deferred | (477) | (537) | 8,181 |
Income tax provision (benefit) | $ (657) | $ (831) | $ 7,509 |
Income Taxes Income Tax Reconci
Income Taxes Income Tax Reconciliation (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 28, 2019 | Dec. 29, 2018 | Dec. 30, 2017 | |
Income Tax Disclosure [Abstract] | |||
Federal statutory rate | 21.00% | 21.00% | 35.00% |
Statutory rate applied to income (loss) from continuing operations before taxes | $ 3,142 | $ (4,685) | $ (635) |
Plus state income taxes, net of federal tax effect | 12 | (173) | (198) |
Total statutory provision (benefit) | 3,154 | (4,858) | (833) |
Nondeductible meals and entertainment | 77 | 90 | 161 |
Executive compensation limitation | 0 | 258 | 0 |
Federal tax credits | (545) | (286) | (200) |
Reserve for uncertain tax positions | 39 | 27 | 8 |
Change in valuation allowance | (3,400) | 3,990 | 6,470 |
Tax reform | 0 | 0 | 1,749 |
Stock-based compensation | 86 | 82 | 146 |
Other items | (68) | (134) | 8 |
Income tax provision (benefit) | $ (657) | $ (831) | $ 7,509 |
Income Taxes Income Tax Recon_2
Income Taxes Income Tax Reconciliation, Narrative (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 28, 2019 | Dec. 29, 2018 | Dec. 30, 2017 | |
Tax Cuts and Jobs Act Narrative [Abstract] | |||
Federal statutory rate | 21.00% | 21.00% | 35.00% |
Federal Statutory Income Tax Rate Effective January 1, 2018 | 21.00% | ||
Tax reform | $ 0 | $ 0 | $ 1,749 |
Increase in the Valuation Allowance Related to the Revised Treatment of Net Operating Losses Under the Tax Act | 6,420 | ||
Deferred Tax Liabilities, Net | 91 | 568 | |
Income tax provision (benefit) | 657 | 831 | $ (7,509) |
Effective Income Tax Rate Reconciliation, Percent | 36.40% | ||
Tax Reconciliation Details [Abstract] | |||
Change in valuation allowance | (3,400) | 3,990 | $ 6,470 |
Income taxes paid, net of tax refunds | $ 128 | $ 20 | $ 44 |
Income Taxes Components of Defe
Income Taxes Components of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands | Dec. 28, 2019 | Dec. 29, 2018 |
Deferred tax assets: | ||
Inventories | $ 3,336 | $ 4,128 |
Retirement benefits | 1,394 | 1,718 |
State net operating losses | 3,362 | 4,142 |
Federal net operating losses | 715 | 4,560 |
State tax credit carryforwards | 1,688 | 1,688 |
Federal tax credit carryforwards | 4,282 | 3,721 |
Allowances for bad debts, claims and discounts | 1,978 | 2,199 |
Other | 4,039 | 5,646 |
Total deferred tax assets | 20,794 | 27,802 |
Valuation allowance | (13,264) | (16,993) |
Net deferred tax assets | 7,530 | 10,809 |
Deferred tax liabilities: | ||
Property, plant and equipment | 7,621 | 11,377 |
Total deferred tax liabilities | 7,621 | 11,377 |
Net deferred tax liability | $ (91) | $ (568) |
Income Taxes Components of De_2
Income Taxes Components of Deferred Tax Assets and Liabilities, Narrative (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 28, 2019 | Dec. 29, 2018 | |
Operating Loss Carryforwards [Line Items] | ||
Deferred Tax Assets, Valuation Allowance | $ 13,264 | $ 16,993 |
Deferred Tax Liabilities, Net | 91 | 568 |
Federal net operating losses | 715 | 4,560 |
State net operating losses | 3,362 | 4,142 |
Federal tax credit carryforwards | 4,282 | 3,721 |
State tax credit carryforwards | 1,688 | $ 1,688 |
Internal Revenue Service (IRS) [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating Loss Carryforwards | $ 3,404 | |
Internal Revenue Service (IRS) [Member] | Earliest Tax Year [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating Loss Carryforwards and Tax Credit Carryforwards, Expiration Date | Dec. 31, 2029 | |
Internal Revenue Service (IRS) [Member] | Latest Tax Year [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating Loss Carryforwards and Tax Credit Carryforwards, Expiration Date | Dec. 31, 2040 | |
State Taxing Authority [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating Loss Carryforwards | $ 63,244 | |
State Taxing Authority [Member] | Earliest Tax Year [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating Loss Carryforwards and Tax Credit Carryforwards, Expiration Date | Dec. 31, 2019 | |
State Taxing Authority [Member] | Latest Tax Year [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating Loss Carryforwards and Tax Credit Carryforwards, Expiration Date | Dec. 31, 2040 |
Income Taxes (Unrecognized Tax
Income Taxes (Unrecognized Tax Benefits) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 28, 2019 | Dec. 29, 2018 | Dec. 30, 2017 | |
Income Tax Contingency [Line Items] | |||
Unrecognized tax benefits | $ 441 | $ 414 | $ 406 |
Additions based on tax positions taken during a current period | 39 | 27 | 8 |
Reductions related to settlement of tax matters | 0 | 0 | 0 |
Unrecognized tax benefits | 480 | 441 | 414 |
Unrecognized tax benefits, income tax penalties and interest accrued | $ 0 | $ 0 | $ 0 |
Common Stock and Earnings (Lo_3
Common Stock and Earnings (Loss) Per Share (Common and Preferred Stock) (Details) | Dec. 28, 2019votes$ / sharesshares | Dec. 29, 2018$ / sharesshares |
Class of Stock [Line Items] | ||
Common stock, shares authorized | 80,000,000 | 80,000,000 |
Common stock, par value | $ / shares | $ 3 | $ 3 |
Votes Per Share of Class B Common Stock | votes | 20 | |
Common stock, shares issued | 15,025,087 | 15,522,588 |
Common Class A [Member] | ||
Class of Stock [Line Items] | ||
Common stock, shares authorized | 80,000,000 | |
Common stock, par value | $ / shares | $ 3 | |
Common Class B [Member] | ||
Class of Stock [Line Items] | ||
Common stock, shares authorized | 16,000,000 | |
Common stock, par value | $ / shares | $ 3 | |
Common Class C [Member] | ||
Class of Stock [Line Items] | ||
Common stock, shares authorized | 200,000,000 | |
Common stock, par value | $ / shares | $ 3 | |
Common stock, shares issued | 0 | |
Preferred Stock [Member] | ||
Class of Stock [Line Items] | ||
Common stock, shares authorized | 16,000,000 | |
Common stock, shares issued | 0 |
Common Stock and Earnings (Lo_4
Common Stock and Earnings (Loss) Per Share (Earnings (Loss) Per Share) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 28, 2019 | Dec. 29, 2018 | Dec. 30, 2017 | ||
Basic earnings (loss) per share: | ||||
Income (loss) from continuing operations | $ 15,619 | $ (21,479) | $ (9,322) | |
Less: Allocation of earnings to participating securities | (468) | 0 | 0 | |
Income (loss) from continuing operations available to common shareholders - basic | $ 15,151 | $ (21,479) | $ (9,322) | |
Basic weighted-average shares outstanding (1) | [1] | 15,822 | 15,764 | 15,699 |
Basic earnings (loss) per share - continuing operations | $ 0.96 | $ (1.36) | $ (0.59) | |
Diluted earnings (loss) per share: | ||||
Income (loss) from continuing operations available to common shareholders - basic | $ 15,151 | $ (21,479) | $ (9,322) | |
Add: Undistributed earnings reallocated to unvested shareholders | 3 | 0 | 0 | |
Income (loss) from continuing operations available to common shareholders - basic | $ 15,154 | $ (21,479) | $ (9,322) | |
Effect of dilutive securities: | ||||
Stock options (2) | [2] | 0 | 0 | 0 |
Directors' stock performance units (2) | [2] | 104 | 0 | 0 |
Diluted weighted-average shares outstanding (1)(2) | [1],[2] | 15,926 | 15,764 | 15,699 |
Diluted earnings (loss) per share - continuing operations | $ 0.95 | $ (1.36) | $ (0.59) | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 461 | 570 | 434 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 166 | 422 | 448 | |
[1] | Includes Common and Class B Common shares, excluding 461, 570, and 434 unvested participating securities, in thousands, for 2019, 2018, and 2017, respectively. | |||
[2] | Shares issuable under stock option plans where the exercise price is greater than the average market price of the Company's Common Stock during the relevant period and directors' stock performance units have been excluded to the extent they are anti-dilutive. Aggregate shares excluded were 166 in 2019, 422 in 2018 and 448 in 2017. |
Stock Plans and Stock Compens_3
Stock Plans and Stock Compensation Expense Share-based Compensation (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 28, 2019 | Dec. 29, 2018 | Dec. 30, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Expense | $ 483 | $ (29) | $ 940 |
2006 Stock Awards Plan, as amended in 2013 [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Number of Shares Authorized | 1,800,000 | ||
2016 Incentive Compensation Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Number of Shares Authorized | 800,000 |
Stock Plans and Stock Compens_4
Stock Plans and Stock Compensation Expense Share-based Awards (Details) $ / shares in Units, $ in Thousands | 12 Months Ended | |||||||||
Dec. 28, 2019USD ($)yr$ / sharesRateshares | Dec. 29, 2018USD ($)$ / sharesRateshares | Dec. 30, 2017USD ($)days$ / sharesRateshares | Jul. 30, 2018USD ($)$ / sharesshares | Mar. 12, 2018USD ($)$ / sharesshares | Sep. 18, 2017USD ($)$ / sharesshares | Sep. 01, 2017USD ($)$ / sharesshares | Mar. 10, 2017USD ($)$ / sharesshares | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | ||||||||||
Outstanding | 570,000 | 434,000 | ||||||||
Outstanding | 461,000 | 570,000 | 434,000 | |||||||
Share-based Arrangements with Nonemployee Directors [Abstract] | ||||||||||
Minimum Market Value Per Share, Calculation of Shares | $ / shares | $ 5 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | ||||||||||
Exercised | (29,001) | (39,711) | 0 | |||||||
Restricted Stock [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Nonvested Awards, General Disclosures [Abstract] | ||||||||||
Award Vesting Period | 3 years | 3 years | ||||||||
Restricted Stock Granted in Period | 10,000 | 297,292 | 10,000 | 10,000 | 40,000 | |||||
Grant Date Fair Value of Restricted Stock | $ | $ 20 | $ 832 | $ 41 | $ 42 | $ 140 | |||||
Weighted Average Grant Date Fair Value of Restricted Stock | $ / shares | $ 2 | $ 2.80 | $ 4.05 | $ 4.15 | $ 3.50 | |||||
Share Based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 6 years 1 month | |||||||||
Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 8 years 7 months | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | ||||||||||
Outstanding | 569,998 | 433,841 | 457,378 | |||||||
Weighted Average Grant Date Fair Value of Outstanding Shares | $ / shares | $ 4.04 | $ 6.66 | $ 7.41 | |||||||
Granted | 307,292 | 60,000 | ||||||||
Weighted Average Grant Date Fair Value Granted During the Year | $ / shares | $ 2.77 | $ 3.70 | ||||||||
Vested | (90,791) | (64,939) | (78,908) | |||||||
Weighted Average Grant Date Fair Value of Awards Vested | $ / shares | $ 2.83 | $ 6.58 | $ 8.79 | |||||||
Forfeited | (17,784) | (106,196) | (4,629) | |||||||
Weighted Average Grant Date Fair Value of Forfeitures | $ / shares | $ 3.48 | $ 9.51 | $ 5.96 | |||||||
Outstanding | 461,423 | 569,998 | 433,841 | |||||||
Weighted Average Grant Date Fair Value of Outstanding Shares | $ / shares | $ 4.30 | $ 4.04 | $ 6.66 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract] | ||||||||||
Nonvested Awards, Compensation Not yet Recognized | $ | $ 989 | |||||||||
Nonvested Awards, Vested in Period, Fair Value | $ | $ 94 | $ 173 | $ 276 | |||||||
Primary Long-Term Incentive Award [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Nonvested Awards, General Disclosures [Abstract] | ||||||||||
Award Vesting Period | 3 years | |||||||||
Stock Performance Units [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Nonvested Awards, General Disclosures [Abstract] | ||||||||||
Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 4 months | |||||||||
Share-based Arrangements with Nonemployee Directors [Abstract] | ||||||||||
Nonemployee Directors Fees, Paid in Cash | $ | $ 18 | 18 | 18 | |||||||
Nonemployee Directors Fees, Value Received in Stock Performance Units | $ | $ 18 | $ 18 | $ 18 | |||||||
Stock Performance Units, Outstanding | 112,320 | |||||||||
Nonemployee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Share Based Awards Other Than Options | $ | $ 5 | |||||||||
Share-based Payment Arrangement, Option [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Nonvested Awards, General Disclosures [Abstract] | ||||||||||
Award Vesting Period | 2 years | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures | 203,000 | |||||||||
Options Granted, Weighted Average Exercise Price | $ / shares | $ 0 | $ 0 | $ 4.30 | |||||||
Share-based Compensation Arrangement by Share-based Award, Equity Instrument, Options, Grant Date Fair Value | $ | 306 | |||||||||
SharebasedCompensationArrangementbySharebasedPaymentAwardVestingMinimumSharePrice | $ / shares | $ 7 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Vesting, Common Stock Minimum Share Price, Trading Period | days | 5 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Requisite Service Period | 2 years | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 5 years | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Method of Measuring Cost of Award | lattice model | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract] | ||||||||||
Expected Volatility | Rate | 0.00% | [1] | 0.00% | [1] | 47.80% | |||||
Risk-free interest rate | Rate | 0.00% | [1] | 0.00% | [1] | 1.79% | |||||
Dividend yield | Rate | 0.00% | [1] | 0.00% | [1] | 0.00% | |||||
Expected life of options (yrs) | 0 years | [1] | 0 years | [1] | 5 years | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | ||||||||||
Options Outstanding | 298,500 | 306,500 | 103,500 | |||||||
Options Outstanding, Weighted Average Exercise Price | $ / shares | $ 4.55 | $ 4.54 | $ 5 | |||||||
Granted | 0 | 0 | 203,000 | |||||||
Options Granted, Weighted Average Exercise Price | $ / shares | $ 0 | $ 0 | $ 4.30 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ / shares | $ 0 | $ 0 | $ 1.51 | |||||||
Exercised | 0 | 0 | 0 | |||||||
Options Exercised, Weighted Average Exercise Price | $ / shares | $ 0 | $ 0 | $ 0 | |||||||
Forfeited | (132,500) | (8,000) | 0 | |||||||
Options Forfeitured and Expired, Weighted Average Exercise Price | $ / shares | $ 4.82 | $ 4.17 | $ 0 | |||||||
Options Outstanding | 166,000 | 298,500 | 306,500 | |||||||
Options Outstanding, Weighted Average Exercise Price | $ / shares | $ 4.33 | $ 4.55 | $ 4.54 | |||||||
Options Outstanding, Weighted Average Remaining Contractual Term | 2 years 4 months 25 days | |||||||||
Options Exercisable | 166,000 | 103,500 | 103,500 | |||||||
Options Exercisable, Weighted Average Exercise Price | $ / shares | $ 4.33 | $ 5 | $ 5 | |||||||
Options Exercisable, Weighted Average Remaining Contractual Term | 2 years 4 months 25 days | |||||||||
Options Outstanding, Intrinsic Value | $ | $ 0 | |||||||||
Options Exercisable, Intrinsic Value | $ | 0 | |||||||||
Options Exercised in Period, Intrinsic Value | $ | $ 0 | $ 0 | $ 0 | |||||||
Age 60 or Older [Member] | Career Shares Award [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Nonvested Awards, General Disclosures [Abstract] | ||||||||||
Award Vesting Period | 2 years | |||||||||
Age Eligible for Retirement | yr | 60 | |||||||||
Under Age 60 [Member] | Career Shares Award [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Nonvested Awards, General Disclosures [Abstract] | ||||||||||
Award Vesting Period | 5 years | |||||||||
Age Eligible for Retirement | yr | 60 | |||||||||
[1] | (1) No options were granted during the years ended December 28, 2019 and December 29, 2018. |
Accumulated Other Comprehensi_3
Accumulated Other Comprehensive Income (Loss) (Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 28, 2019 | Dec. 29, 2018 | Dec. 30, 2017 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Accumulated other comprehensive loss - total | $ (108) | $ (1,299) | $ (1,960) |
Unrealized gain (loss) on interest rate swaps | (1,109) | 531 | 112 |
Reclassification of loss into earnings from interest rate swaps | 444 | 673 | 775 |
Unrecognized net actuarial gain on postretirement benefit plans | (6) | 18 | 7 |
Reclassification of net actuarial gain into earnings from postretirement benefit plans | (27) | (27) | (19) |
Reclassification of prior service credits into earnings from postretirement benefit plans | (2) | (4) | (3) |
Reclassification of stranded tax effects | (211) | ||
Accumulated other comprehensive loss - total | (808) | (108) | (1,299) |
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Accumulated other comprehensive loss - total | (383) | (1,587) | (2,216) |
Unrealized gain (loss) on interest rate swaps | (1,109) | 531 | 112 |
Reclassification of loss into earnings from interest rate swaps | 444 | 673 | 775 |
Reclassification of stranded tax effects | (258) | ||
Accumulated other comprehensive loss - total | (1,048) | (383) | (1,587) |
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Accumulated other comprehensive loss - total | 275 | 288 | 256 |
Unrecognized net actuarial gain on postretirement benefit plans | (6) | 18 | 7 |
Reclassification of net actuarial gain into earnings from postretirement benefit plans | (27) | (27) | (19) |
Reclassification of prior service credits into earnings from postretirement benefit plans | (2) | (4) | (3) |
Reclassification of stranded tax effects | 47 | ||
Accumulated other comprehensive loss - total | $ 240 | $ 275 | $ 288 |
Accumulated Other Comprehensi_4
Accumulated Other Comprehensive Income (Loss) Accumulated Other Comprehensive Income (Loss) (Parentheticals) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 28, 2019 | Dec. 29, 2018 | Dec. 30, 2017 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Unrealized gain (loss) on interest rate swaps, tax | $ 0 | $ 0 | $ 68 |
Reclassification of loss into earnings from interest rate swaps, tax | 10 | 0 | 475 |
Unrecognized net actuarial gain on postretirment benefit plans, tax | 0 | 0 | 4 |
Reclassification of net actuarial gain into earnings from postretirement benefit plans, tax | 0 | 0 | (11) |
Reclassification of prior service credits into earnings from postretirement benefit plans, tax | 0 | 0 | (1) |
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Unrealized gain (loss) on interest rate swaps, tax | 0 | 0 | 68 |
Reclassification of loss into earnings from interest rate swaps, tax | 10 | 0 | 475 |
Amortization of unrealized loss on dedesignated interest rate swaps, tax | 0 | 0 | 0 |
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Unrecognized net actuarial gain on postretirment benefit plans, tax | 0 | 0 | 4 |
Reclassification of net actuarial gain into earnings from postretirement benefit plans, tax | 0 | 0 | (11) |
Reclassification of prior service credits into earnings from postretirement benefit plans, tax | $ 0 | $ 0 | $ (1) |
Commitments and Contingencies (
Commitments and Contingencies (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 28, 2019 | Dec. 29, 2018 | Dec. 30, 2017 | |
Unrecorded Unconditional Purchase Obligation [Line Items] | |||
Purchase Commitment, Remaining Minimum Amount Committed | $ 2,380 | ||
Unrecorded Unconditional Purchase Obligation, Purchases | 431 | $ 428 | $ 640 |
Unrecorded Unconditional Purchase Obligation, Due in Next Twelve Months | $ 72 |
Commitments and Contingencies C
Commitments and Contingencies Commitment and Contingencies Legal Proceedings (Details) $ in Thousands | 12 Months Ended |
Dec. 28, 2019USD ($) | |
The Water Works and Sewer Board of the City of Gadsden [Member] | |
Loss Contingencies [Line Items] | |
Loss Contingency, Damages Sought, Value | $ 10 |
The Water Works and Sewer Board of the Town of Centre [Member] | |
Loss Contingencies [Line Items] | |
Loss Contingency, Damages Sought, Value | 10 |
Carlos Garcia V. Fabric International [Member] | |
Loss Contingencies [Line Items] | |
Litigation Settlement, Expense | 1,514 |
Robert Bridgeman [Member] | |
Loss Contingencies [Line Items] | |
Loss Contingency, Damages Sought, Value | 50 |
The Canyons Grand Summit Resort Hotel Owners Association, Inc [Member] | |
Loss Contingencies [Line Items] | |
Loss Contingency, Damages Sought, Value | $ 500 |
Other (Income) Expense, Net (De
Other (Income) Expense, Net (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 28, 2019 | Dec. 29, 2018 | Dec. 30, 2017 | |
Other operating (income) expense, net: | |||
(Gain) loss on property, plant and equipment disposals | $ 353 | $ (1,047) | $ 170 |
Gain on sale of building | (25,121) | 0 | 0 |
(Gain) loss on currency exchanges | 41 | 126 | (72) |
Amortization of intangibles | 0 | 305 | 306 |
Retirement expenses | 72 | 64 | 155 |
Miscellaneous (income) expense | 667 | 1,010 | (118) |
Other operating (income) expense, net | $ (23,988) | $ 458 | $ 441 |
Other (Income) Expense, Net (Co
Other (Income) Expense, Net (Components of Other Nonoperating (Income) Expense) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 28, 2019 | Dec. 29, 2018 | Dec. 30, 2017 | |
Other (income) expense, net: | |||
Interest Income | $ (49) | $ 0 | $ 0 |
Post-retirement income | (14) | (15) | (18) |
Miscellaneous (income) expense | 6 | 18 | 39 |
Other expense, net | $ 57 | $ (3) | $ (21) |
Facility Consolidation and Se_3
Facility Consolidation and Severance Expenses, Net (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 28, 2019 | Dec. 29, 2018 | Dec. 30, 2017 | ||
Restructuring Cost and Reserve [Line Items] | ||||
Accrued Balance | $ 944 | $ 505 | ||
Expenses to Date | [1] | 5,019 | 3,167 | |
Cash Payments | 5,620 | 2,728 | ||
Accrued Balance | 343 | 944 | $ 505 | |
Total Costs Incurred to Date | 9,629 | |||
Expected Cost Remaining | 9,629 | |||
Environmental Remediation Costs Recognized [Abstract] | ||||
Facility consolidation and severance expenses, net | 5,019 | 3,167 | 636 | |
2015 Corporate Office Consolidation Plan [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Accrued Balance | 98 | 171 | ||
Expenses to Date | [1] | 13 | 9 | |
Cash Payments | 73 | 82 | ||
Accrued Balance | 38 | 98 | 171 | |
Total Costs Incurred to Date | 829 | |||
Expected Cost Remaining | 829 | |||
2017 Profit Improvement Plan [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Accrued Balance | 846 | 334 | ||
Expenses to Date | [1] | 5,006 | 3,158 | |
Cash Payments | 5,547 | 2,646 | ||
Accrued Balance | 305 | 846 | 334 | |
Total Costs Incurred to Date | 8,800 | |||
Expected Cost Remaining | 8,800 | |||
Asset Impairments [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Accrued Balance | 0 | 0 | ||
Expenses to Date | 3 | 3,320 | ||
Cash Payments | 0 | 0 | ||
Accrued Balance | 0 | $ 0 | $ 0 | |
Total Costs Incurred to Date | 3,323 | |||
Expected Cost Remaining | $ 3,323 | |||
[1] | Costs incurred under these plans are classified as "facility consolidation and severance expenses, net" in the Company's Consolidated Statements of Operations. |
Discontinued Operations (Detail
Discontinued Operations (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 28, 2019 | Dec. 29, 2018 | Dec. 30, 2017 | |
Income (loss) from discontinued operations: | |||
Income (loss) from discontinued operations, before taxes | $ (348) | $ 95 | $ (380) |
Income tax benefit | 0 | 0 | (147) |
Income (loss) from discontinued operations, net of tax | (348) | 95 | (233) |
Previously Discontinued Operations [Member] | |||
Income (loss) from discontinued operations: | |||
Workers' compensation costs from former textile operations | 38 | 212 | (155) |
Environmental remediation costs from former textile operations | $ (386) | $ (117) | $ (225) |
Discontinued Operations (Enviro
Discontinued Operations (Environmental Remediation) (Details) - USD ($) $ in Thousands | Dec. 28, 2019 | Dec. 29, 2018 |
Environmental Remediation Obligations [Abstract] | ||
Accrual for Environmental Loss Contingencies | $ 1,987 | $ 1,728 |
Related Party Transactions (Det
Related Party Transactions (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 28, 2019 | Dec. 29, 2018 | Dec. 30, 2017 | |
James Horwich [Member] | |||
Related Party Transaction [Line Items] | |||
Related Party Transaction, Amounts of Transaction | $ 497 | $ 1,003 | $ 978 |
Robert E Shaw [Member] | |||
Related Party Transaction [Line Items] | |||
Related Party Transaction, Amounts of Transaction | $ 5,900 | $ 8,200 | $ 7,200 |
Ownership of Common Stock, Percentage | 7.50% | ||
Voting Interest of Common Stock, Percentage | 3.50% | ||
Related Party Transaction, Purchases from Related Party, Percentage | 2.10% | 2.60% | 2.30% |
Robert P Rothman [Member] | |||
Related Party Transaction [Line Items] | |||
Related Party Transaction, Amounts of Transaction | $ 284 | $ 278 | $ 273 |
Valuation and Qualifying Acco_2
Valuation and Qualifying Accounts (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 28, 2019 | Dec. 29, 2018 | Dec. 30, 2017 | ||
SEC Schedule, 12-09, Allowance, Credit Loss [Member] | ||||
Year ended: | ||||
Balance at beginning of year | $ 174 | $ 133 | $ 107 | |
Charged to costs and expenses | 240 | 162 | 70 | |
Charged to other accounts | 0 | 0 | 0 | |
Deductions | [1] | 152 | 121 | 44 |
Balance at end of year | 262 | 174 | 133 | |
Provision for claims, allowances and warranties [Member] | ||||
Year ended: | ||||
Balance at beginning of year | 5,717 | 6,360 | 7,039 | |
Charged to costs and expenses | 10,538 | 11,995 | 11,760 | |
Charged to other accounts | 0 | 0 | 0 | |
Deductions | [2] | 11,714 | 12,638 | 12,439 |
Balance at end of year | $ 4,541 | $ 5,717 | $ 6,360 | |
[1] | Uncollectible accounts written off, net of recoveries. | |||
[2] | eserve reductions for claims, allowances and warranties settled. |