XML 60 R9.htm IDEA: XBRL DOCUMENT v3.24.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
May 28, 2023
May 29, 2022
May 30, 2021
Cash flows from operating activities:      
Consolidated net loss $ (99,563) $ (116,715) $ (32,294)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:      
Impairment of goodwill and long-lived and indefinite-lived assets 1,300 78,146 0
Depreciation, amortization of intangibles and amortization of debt costs 13,285 18,061 19,867
Deferred taxes 357 (6,825) (7,874)
Loss on disposal of property and equipment related to restructuring, net 0 5,185 10,143
Stock-based compensation expense 3,612 2,608 3,360
Loss on Sale of Eat Smart 0 336 0
Net loss on disposal of property and equipment 38 152 61
Provision (benefit) for expected credit losses 163 (14) 940
Change in investment in non-public company, fair value 0 0 11,469
Loss on debt extinguishment 23,741 0 1,110
Non-cash restructuring and impairment of assets charges 640 0 0
Other, net 86 (426) (74)
Changes in current assets and current liabilities:      
Accounts receivable, net 10,824 (6,138) 5,775
Inventory, net (14,811) (2,180) (2,819)
Prepaid expenses and other current assets 2,156 (689) 8,281
Accounts payable 16,038 9,343 (5,982)
Accrued compensation (4,483) (2,546) 3,270
Other accrued liabilities 7,166 (873) 810
Deferred revenue 3,136 (18) 428
Net cash (used in) provided by operating activities (17,441) (22,593) 16,471
Cash flows from investing activities:      
Eat Smart sale net working capital adjustment 0 (9,839) 0
Proceeds from sale of investment in non-public company 0 45,100 0
Purchases of property and equipment (21,482) (29,940) (25,223)
Proceeds from sales of property and equipment 0 1,141 12,913
Net cash (used in) provided by investing activities (4,811) 79,962 (12,310)
Cash flows from financing activities:      
Proceeds from long-term debt 150,000 20,000 170,000
Payments on long-term debt (123,690) (86,411) (114,130)
Proceeds from line of credit 31,450 55,111 100,000
Payments on line of credit (54,640) (44,111) (148,400)
Payments for debt issuance costs (6,050) (821) (10,484)
Taxes paid by Company for employee stock plans (274) (789) (405)
Proceeds from sale of common stock, net of issuance costs 4,822 0 0
Proceeds from sale of preferred stock, net of issuance costs 38,082 0 0
Net cash provided by (used in) financing activities 39,700 (57,021) (3,419)
Net increase in cash, cash equivalents and restricted cash 17,448 348 742
Cash, cash equivalents and restricted cash, beginning of period 1,643 1,295 553
Cash, cash equivalents and restricted cash, end of period 19,091 1,643 1,295
Supplemental disclosure of cash flow information:      
Cash paid during the period for interest 31,024 16,888 13,223
Cash paid during the period for income taxes, net of refunds received 23 441 (7,680)
Supplemental disclosure of non-cash investing and financing activities:      
Purchases of property and equipment on trade vendor credit 6,945 2,260 4,724
Convertible Preferred Stock Paid in Kind (PIK) dividend (1,163) 0 0
Debt Derivative 64,900 0 0
BreatheWay      
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:      
Gain (loss) on disposition of business (2,108) 0 0
Cash flows from investing activities:      
Proceeds from divestiture of businesses 3,135 0 0
Yucatan Foods      
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:      
Gain (loss) on disposition of business 20,663 0 0
Cash flows from investing activities:      
Proceeds from divestiture of businesses 11,803 0 0
O Olive      
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:      
Gain (loss) on disposition of business 319 0 0
Cash flows from investing activities:      
Proceeds from divestiture of businesses 1,733 0 0
Eat Smart      
Cash flows from investing activities:      
Proceeds from divestiture of businesses $ 0 $ 73,500 $ 0