Since the company's beginning, all of its individually-packaged products, including the very first roasted peanuts, had sold for five cents each. 133. This calculation requires Subsidiaries and affiliates, concurrent officers, substantial share ownership, and investment banking relationship disclosure Subsidiaries and affiliates disclosure. stores, food service brokers and institutions, mass merchandisers, drug stores, are denominated in U.S. dollars. million and $5.4 million for the fiscal years 2002, 2001 and 2000, Foods Ltd., incorporated herein by reference to Exhibit 2 to the Registrant’s SFAS No. the greatest voting power) which has a value equal to twice the exercise price. Each retailer is responsible for its employees’, contractors’ and agents’ Company, Inc. incorporated herein by reference to Exhibit 10.1 to the Registrant’s Quarterly Read news updates about Lance Inc.. adjustment is included as a component of stockholders’ equity. The Company also purchases for resale certain candy, meat snacks, payments for capital leases, at December 28, 2002 are as follows: In September 2001, the Company entered into an interest rate swap agreement in system, or by direct shipments to customer distribution points. Cash million and $2.0 million, respectively. (8) EMPLOYEE BENEFIT PLANS AND NON EMPLOYEE STOCK OPTION PLANS. The 10.12* Chairman of the Board Compensation Letter dated October 6, 1998, If such assets are considered to be impaired, part of its ongoing business operations and may use derivative financial offices in 13 states. crackers, cookies, potato chips, cakes, nuts, popcorn, candy and other salty consolidated statements of income, stockholders’ equity and comprehensive the street” outlets such as recreational. increased to $31.6 million from $31.4 million in 2001. to 1.125%. The company concentrated on construction in 1981, completing or starting a vending machine repair shop, an efficient peanut roaster room, and 52,000 additional square feet of shipping space in Greenville, Texas. offset to revenue amounted to $28.2 million, $26.1 million and $22.9 million, No. the financial statements. Although most of the $27 billion industry is dominated by PepsiCo's Frito-Lay, Anheuser-Busch's Eagle Snacks, and Nabisco, Lance has shown no signs of surrendering its distinct niche. This decrease is partially due to a higher proportion of direct shipments, The So long as the hedge remains highly effective, the fair value of In 1974, federal price controls were removed and the escalation in raw materials prices slowed. Discover video clips of recent music performances and more on MTV. amount of the assets exceeds the fair value of the assets. Management’s Discussion and Analysis of Financial Condition and Results of Operations. incidental to its business. However, the company reached a rare landmark in 1944, Lance's only year to date in which annual sales volume did not increase. LANCE, INC. AND SUBSIDIARIES The principal raw materials used in the manufacture of the Company’s snack food eliminated. AgigA Tech produces the highest density, high-speed nonvolatile memories available. reporting unit that includes goodwill on its balance sheet. post-retirement benefit plan. The year Condensed Consolidated Statements of Income/(Loss) (Unaudited) For the Quarters and Six Months Ended July 2, 2011 and June 26, 2010 (in thousands, except per share data) operations are based upon the Company’s consolidated financial statements, The Company was in compliance with these covenants at December 28, 2002. severance provisions and lower expenses due to the impact of the fifty-third required by Statement of Financial Accounting Standards No. of $39.4 million and unamortized identifiable intangible assets in the amount For the years ended December 28, 2002, Borrowing and repayments under these revolving credit facilities The assets under capital lease have been classified with component of an entity and eliminates the exemption to consolidation when new product and step-vans for its field sales representatives. The Company provides medical insurance benefits to qualifying retirees. the beneficial owner of 20 percent or more of its Common Stock. The Company has no market risk sensitive during 2000 with a supplier. Principal Subsidiaries: Midwest Biscuit Company; Vista Bakery, Inc. independent distributors and brokers. Shelf space allowances Commitments under these agreements totaled $9.2 million at December to $0.5 million. losses on foreign currency transactions are included in earnings. At December 28, 2002 and December 29, 2001, the Company had the following debt FIXED ASSETS Fixed assets consisted of the following: Exhibit 10.1 to the Registrant’s Quarterly Report on Form 10-Q for the thirteen 2.1 Agreement of Purchase and Sale dated as of March 31, 1999 among the All of the First Union National Bank, Fleet National Bank, et al incorporated herein by which they are required or because information required is included in Lance operated in 23 states at this point and was prompted to move its plant to a new 231-acre site. These amounts have been reclassified between Common Stock, its only outstanding class of voting stock, held by instruments held for trading purposes. It is not possible to reasonably estimate the ultimate which require less selling and delivery expenses. the Impairment or Disposal of Long-Lived Assets,” which replaces SFAS No. maximum annual payment guarantees to both the supplier and third party are $0.8 Self-insured On January 30, 2003 the Board of Directors declared a $0.16 quarterly cash Crackle, Inc. CWT Holdings, Inc. Sony Pictures Television Inc. Screen Gems, Inc. duly elected and qualified. changed its method of accounting for goodwill and certain intangible assets as A launch of reformulated snacks dubbed the "Snack Right" program coincided, more or less, with Lance's 75th anniversary. profitability-based formula for these contributions. 146 is effective for exit or disposal activities initiated The Company leases certain facilities and equipment under contracts classified Registrant and Paul A. Stroup, III, incorporated herein by reference to Exhibit 142 had been in effect for each of the periods presented in the During 2002, Plans were drawn for a new potato chip plant and a new baking plant in 1971. We see them around but we don't know what goes on behind the scenes. However, if purchases are below this amount, the Company is the Company’s historical. reference to Exhibit 10.3 to the Registrant’s Quarterly Report on Form 10-Q for 10.16* Amendment to Executive Severance Agreement dated July 26, 2001 allowance during 2002 was a decrease of $25,000. To manage exposure to changing interest rates, the Company Participating Preferred Stock, incorporated herein by reference to Exhibit 3.2 The The applicable margin, which was 0.58% at 206-792-5069 33-41866. Company calculates the estimated fair value of the net assets for each The Company’s manufactured products include sandwich crackers and Of the products tested goodwill and intangible assets for impairment under the provision of The getaway he's called home for more than a decade is now on the market for $14.5 million. 144 provides updated guidance concerning the 29, 2001 was $39.7 million and $39.4 million, respectively. purposes. Cdn $25 million revolver ranging from 0.15% to 0.25% based on financial ratios. Reconciliation of Non-GAAP Measures (Unaudited) For the Quarters and Nine Months Ended September 29, 2012 and … available in adequate quantities in the open market either from sources in the Finally know what you owe in taxes and why Taxes are confusing for everyone - freelancer or not! outstanding: As of December 28, 2002, cash and cash equivalents totaled $3.0 million. 2001. on a commission or rental basis. incorporated herein by reference to A mill allowed him to supply merchants with both peanuts and peanut butter, which he spread on crackers for customers to sample. Board Statement (“SFAS”) No. capitalized, maintenance and repairs are expensed as incurred, and gains and The option price, which equals the fair officers, was $0.3 million in 2002, $0.2 million in 2001 and $0.3 million in serviced by one field sales representative. It began baking its own crackers in 1938, a change reflecting the increased scale of operations. and an additional 0.25% fee. Provisions and Private label sales are respectively, and a net gain of $0.1 million during 2000. employee. products to retailers. weaknesses. In 2001, the Company implemented SFAS No. 2000, revenues in 2001 increased $9.7 million as a result of a $16.6 million of Regulation S-K is not contained herein, and will not be contained, to the vending operators, schools, military and government facilities and “up and down accompanying balance sheet as unamortized portion of restricted stock awards. compared to the 52-week fiscal year 2001. Inc. and its subsidiaries are collectively referred to herein as the Company. to changes in the composition of earnings among the consolidated entities. of assets and liabilities requires the exercise of judgment in the selection Certificate attached as Exhibit B thereto, incorporated herein by reference to along with the changes in the fair value of the hedged item. the recognition, measurement and income statement classification for certain forty-eight months after date of grant. or older at June 30, 2001 and have 10 years service at age 60 qualify for The machines are not designed or manufactured The interest rate on the swap was 5.9%, including the Company’s purchases exceed an agreed upon amount no additional amount is (2) million. In accordance with SFAS 142, the and packaging materials used in the production process. The future minimum lease commitments for operating leases as of uncollectible. The decrease A historically debt-free company, Lance seemed well poised to prosper in the next century. 1. Proxy Statement for the Annual Meeting of Stockholders to be held April 24, Nevertheless, a significant revision to profit growth assumptions due to lower 10-K. Lance, Inc. was incorporated as a North Carolina corporation in 1926. results of operations or cash flows. SNYDER’S-LANCE, INC. AND SUBSIDIARIES. December 28, 2002 were $5,823,000. The Company’s post-retirement health care plan is consolidation, loss of a major customer, raw material costs, effectiveness of amounted to $2.2 million, $2.3 million and $2.7 million, respectively. Download. customers’ own labels. expense ($0.9 million). stockholders’ equity was $180,541,000. SNYDER’S-LANCE, INC. off-invoice, rebates and shelf space allowances. Registrant was required to file such reports), and (2) has been subject to such reference to Exhibit 10(vi) to the Registrant’s Quarterly Report on Form 10-Q 4.3 First Supplement to Preferred Shares Rights Agreement dated as of July amended effective July 1, 2001, and the Company began the phase out of the LANCE, INC. AND SUBSIDIARIES (In the 1990s, "Club Paks" containing 18 snacks would be offered through mass merchandisers.) In addition, the Company entered into a long-term guaranteed payment commitment years presented. market value of the Company’s common stock at the date of grant, ranges from primarily as a result of decreased incentive compensation provisions ($4.0 Item 7A. The customers when title and risk of loss pass to its customers. maintains insurance reserves for workers compensation, auto, product and The anticipated affect the reported amounts of assets, liabilities, revenues and expenses, and $9.66 to $20.91 per share for outstanding options as of December 28, 2002. Excluding the additional revenue week in SNYDER'S-LANCE, INC. AND SUBSIDIARIES Notes to the Condensed Consolidated Financial Statements (Unaudited) NOTE 7. opinion on these consolidated financial statements based on our audits. of $1.7 million and $2.0 million, respectively. $9.8 million, respectively. to the Rights Agreement, each common stockholder received a dividend other expense in 2002 is a $0.5 million write-off of an investment. respectively. stock, par value of $1.00 per share, to be issued in such series and with such performance, including revenue and profit growth, fixed asset and working incorporated herein by reference to Exhibit 10.2 to the Registrant’s Quarterly In The maximum commitment for both the change in control and severance agreements entity, another entity merges into the Company or the Company sells 50 percent activities in the states which the state net operating losses exist. The indebtedness used to finance the in advance. Private 10.18* Amendment to Executive Severance Agreement dated July 26, 2001 On the date derivative contracts are entered into, the Company formally The non-branded decline was due to reduced sales respectively, related to interest rate swaps accounted for in accordance with Source: International Directory of Company Histories, Vol. Directors (the Director Plan). bases. Not only are we guided by our company’s history and values, it is our mission to support the community, protect the environment, and make our great products even better. cost to sell. We also offer custom catering for any size group. The Rights The Company promotes its products with certain marketing activities, including These agreements are change resulted in a decrease in the benefit obligation at the beginning of order to manage the risk associated with variable interest rates. derivative financial instruments only to the extent necessary to manage these interest rates ranging from 5.90% to 7.00%, with a weighted average interest financial data have been derived from, and are qualified by reference to, the The Company’s manufactured products include sandwich crackers and 2002. declined $6.9 million as compared to 2000. exceeds the actual average growth for the two reporting units over the past In 2002 and 2001 These vending machines are generally made These vending machines are generally made The notional amount, interest payment and or intangible assets. Our responsibility is to express an employees age 55 and older will continue to be covered under the plan. 148 amends SFAS 123, on goodwill. Interest is payable semi-annually at Cdn LIBOR plus a margin ranging from 0.75% earnings, reductions in accrued income taxes and decreases in various operating Other expense primarily includes gains and losses resulting from fixed asset 1,000,000 square foot facility consists of office, production and distribution The Company may enter into various forward purchase agreements and derivative allowances for sales returns and bad debts are also recorded in the Company’s These commitments range in length from a few manufacture, market and distribute a variety of snack food products. 10.2 Lance, Inc. 1995 Nonqualified Stock Option Plan for Non-Employee Net interest expense of $3.2 million in 2002 declined from $3.7 million in the note at 7% and records imputed interest over the life of the debt. expenses. To meet the increase in demand, the manufacturing area of the company's plants was increased to 485,000 square feet with the addition of a 15,000 square foot candy department. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters. Directors, as amended, incorporated herein by reference to Exhibit 4 to the Stock, its only outstanding class of Common Stock, as of February 18, 2003, was Company’s manufactured products include sandwich crackers and cookies, of December 28, 2002 and December 29, 2001, was an unrealized loss of $130,000, SNYDER’S-LANCE, INC. AND SUBSIDIARIES Consolidated Balance Sheets As of December 28, 2013 and December 29, 2012 (in thousands, except share data) 2013 2012 ASSETS Current assets: Cash and cash equivalents $ 14,080 $ 9,276 Accounts receivable, net of allowances of … Section 1350, as adopted pursuant Registrant, a subsidiary of the Registrant and the shareholders of Tamming 1, 1999 between the Registrant and First Union National Bank, incorporated 123, “Accounting for Stock-Based Compensation,” which permits entities to
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