Note 11 - Other Operating Income and Expense

9 Months Ended

Dec. 26, 2020

Notes to Financial Statements

Property, Plant and Equipment Disclosure [Text Block]

11. Other Operating Income and Expense

On December 18, 2020, the Company completed the sale of its prepared foods business to an unaffiliated buyer who was not a previous customer. The Company recorded a gain on the sale of the prepared food business of $35,660,000. Additionally during the nine months ended December 26, 2020, the Company recorded a loss of $405,000 on the disposal of equipment from a sold Northwest plant and a loss on the sale of unused fixed assets of $365,000. The Company also recorded a charge of $1,174,000 for a supplemental early retirement plan. During the nine months ended December 28, 2019 the Company recorded a gain on the partial sale of a plant in the Midwest of $3,742,000 and a gain on the partial sale of a plant in the Northwest of $1,737,000. The Company also recorded a gain on the sale of unused fixed assets of $3,139,000.

These items are included in Other Operating Income in the Unaudited Condensed Consolidated Statements of Net Earnings.