Annual report pursuant to Section 13 and 15(d)

Summary of Significant Accounting Policies (Tables)

v3.20.4
Summary of Significant Accounting Policies (Tables)
12 Months Ended
Jan. 02, 2021
Accounting Policies [Abstract]  
Schedule of Useful Lives of Assets

Property, plant and equipment is stated at cost. Expenditures for repairs and improvements that significantly add to the productive capacity or extend the useful life of an asset are capitalized. Repairs and maintenance are expensed as incurred. Depreciation is computed using the straight-line method over the following useful lives:

 

 

 

Years

Machinery and equipment

 

2 - 14

Office furniture and equipment

 

2 - 14

Buildings

 

25 - 40

Building and land improvements

 

7 - 40

Leasehold improvements

 

3-6

Computation of basic and diluted earnings per common share

The following table presents the computation of basic and diluted earnings per common share (in thousands except per share data):

 

 

January 2, 2021

 

 

December 28, 2019

 

 

December 29, 2018

 

Net income

 

$

14,218

 

 

$

60,268

 

 

$

46,730

 

Basic and diluted weighted average shares outstanding

 

 

32,088

 

 

 

32,015

 

 

 

31,309

 

Basic and diluted net income per common share

 

$

0.44

 

 

$

1.88

 

 

$

1.49