XML 40 R5.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statement Of Cash Flows (USD $)
12 Months Ended
May 29, 2012
May 31, 2011
Jun. 01, 2010
Cash flows provided by (used in) operating activities:      
Net earnings $ 2,148,211 $ 9,472,589 $ 9,998,931
Less (loss) earnings from discontinued operations (3,653,329) 2,368,033 3,253,709
Earnings from continuing operations 5,801,540 7,104,556 6,745,222
Adjustments to reconcile net earnings to net cash from operating activities:      
Depreciation and amortization 10,272,643 9,932,748 8,477,408
Loss (gain) on disposition of assets, including abandonment losses (112,491) 217,470 79,702
Impairment of long lived assets 1,228,760      
Stock-based compensation expense 938,505 420,922 355,561
Net periodic pension cost 2,258,684 2,394,134 2,389,009
Contributions to pension plans (2,100,000) (1,600,000) (1,625,000)
Adjustments to reconcile net (loss) earnings to net cash from operating activities, total 18,287,641 18,469,830 16,421,902
Changes in assets and liabilities:      
Trade and other receivables 314,305 (463,629) 15,427
Inventories (650,000) 265,521 217,039
Prepaid expenses and sundry deposits 612,149 (719,014) 90,614
Other assets 3,025 (77,330) (14,960)
Prepaid and deferred income taxes 301,683 1,683,722 (420,700)
Accrued income taxes 130,427 170,186 19,549
Excess tax benefit from stock-based compensation (3,800) (223,296) (6,144)
Accounts payable (3,741,824) (266,055) 2,549,206
Accrued expenses (1,633,237) 535,463 (1,868,726)
Self insured obligations 335,786 336,798 445,000
Deferred compensation and other liabilities 301,275 295,247 206,301
Changes in assets and liabilities, total (4,030,211) 1,537,613 1,232,606
Net cash provided by continuing operations 14,257,430 20,007,443 17,654,508
Net cash provided by discontinued operations 9,524,626 9,335,787 8,969,544
Net cash provided by operating activities 23,782,056 29,343,230 26,624,052
Cash flows (used in) provided by investing activities:      
Additions to property and equipment (10,731,367) (17,148,875) (21,372,706)
Proceeds from disposition of property 461,331 422,576 30,701
Change in restricted cash 3,492,803      
Change in other assets (92,546) (440,588) (392,208)
Net cash (used in) continuing investing activities (13,855,385) (17,166,887) (21,734,213)
Net cash provided by (used in) discontinued investing activities 46,872,447 (2,554,519) (3,111,636)
Net cash (used in) investing activities 33,017,062 (19,721,406) (24,845,849)
Cash flows (used in) provided by financing activities:      
Proceeds from borrowings 2,000,000 6,500,000 10,000,000
Payment of long-term debt and capital lease obligations (11,542,394) (7,734,211) (8,616,525)
Cash dividends paid (3,108,046) (2,924,758) (2,603,767)
Proceeds from stock options exercised 131,116 736,632 93,926
Other treasury shares re-issued 30,133 50,546 74,773
Treasury shares acquired (642,514) (4,680,224) (1,009,010)
Excess tax benefit from stock options exercised 3,800 223,296 6,144
Employee stock purchase plan (24,615) 5,001 22,319
Net cash (used in) financing activities (13,152,520) (7,823,718) (2,032,140)
Net increase (decrease) in cash and equivalents 43,646,598 1,798,106 (253,937)
Cash and equivalents at beginning of year 2,315,948 517,842 771,779
Cash and equivalents at end of year 45,962,546 2,315,948 517,842
Supplemental disclosures:      
Interest paid 1,482,363 1,560,703 1,839,073
Income taxes paid 1,525,778 1,241,221 5,514,145
Income taxes refunded 893,366 2,576 57,201
Lease transactions capitalized (non-cash)    $ 996,844 $ 825,000