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Immaterial Restatement of Previously Issued Financial Statements and Reclassification
3 Months Ended
Apr. 01, 2017
Immaterial Restatement of Previously Issued Financial Statements and Reclassification
K. Immaterial Restatement of Previously Issued Financial Statements and Reclassification

In the third quarter of fiscal 2016, the Company identified a reporting error in the consolidated statement of cash flows for the thirteen weeks ended March 26, 2016, which the Company corrected in the consolidated statement of cash flows for the thirty-nine weeks ended September 24, 2016. For the thirteen weeks ended March 26, 2016, the Company previously classified a $3 million decrease in accounts payable for repurchase of Class A Common Stock as a decrease in cash flows provided by operating activities rather than classifying it as an increase in cash flows used in financing activities. The Company has adjusted the consolidated statement of cash flows for the thirteen weeks ended March 26, 2016 to properly classify this $3 million decrease in accounts payable for repurchase of Class A Common Stock. This reporting error had no effect on the Company’s results of operation or financial position as of and for the thirteen weeks ended March 26, 2016. The Company concluded that the consolidated statement of cash flows for the thirteen weeks ended March 26, 2016 is not materially misstated.