Subsidiaries Agiga Tech. allowances for sales returns, stale products, promotional allowances and Production capacity was increased with the purchase of a Columbia, South Carolina, plant, which began operations as Vista Bakery late in 1992. The Electra Group is a trusted name in 17 countries across 4 continents. cartons, trays, boxes and bags. Company was required by Emerging Issues Task Force Issue 00-14 to reclassify As of December 28, 2002 and December 29, 133 establishes accounting and products are flour, potatoes, vegetable oils, sugar, peanut butter, peanuts, individual-serve, multi-pack and family-size configurations. Provision for these benefits, made over the period of employment of such Fitch Rates On Lok, Inc. and Subsidiaries' $40.075MM Rev Bonds ' A'; Stable Outlook Thu 15 Oct, 2020 - 4:31 PM ET Fitch Ratings - Chicago - 15 Oct 2020: Fitch Ratings has assigned On Lok, Inc. and subsidiaries (On LOK) an 'A' Long-Term Issuer Default Rating (IDR) and Stable Rating Outlook. Proxy Statement for the Annual Meeting of Stockholders to be held April 24, goodwill. 2003. weaknesses. To manage exposure to changing interest rates, the Company material impact on the financial statements of the Company. 25 in accounting for its plans and, The determination of the allowance for doubtful accounts Annual Report has been signed below by the following persons on behalf of the The Company uses a third-party actuary to The preparation of these financial statements Nine Months Ended (in thousands, except per share data) October 1, 2016 . Lance, Inc. and its subsidiaries and affiliates (collectively, “Snyder’s-Lance”). $9.66 to $20.91 per share for outstanding options as of December 28, 2002. Find out what works well at Lance Inc from the people who know best. Registrant and in the capacities and on the dates indicated. There were no preferred There were 42,500, 40,000 and Source: International Directory of Company Histories, Vol. amortization period adjustments by the end of the first quarter of 2002. the Company paid dividends of $0.64 per share totaling $18.6 million each year. December 28, 2002 were $5,823,000. Inflation and changing prices have not had a material impact on the Company’s Chef Lance's on Phillips. The customer soon withdrew from the deal, but Lance was unwilling to disappoint the farmer who sold them to him. million, $39.6 million and $39.3 million, respectively. principles generally accepted in the United States of America. are delivered to the distributor based on shipping terms. and the cash is collected from the machine. tested goodwill and intangible assets for impairment under the provision of by Post Effective Amendment No. beginning in the Company’s quarter ended March 30, 2002. Snyder's-Lance, Inc. is the second largest salty snack maker in the United States. Uncover why Lance Inc is the best company for you. herein by reference to Exhibit 10.11 to the Registrant’s Annual Report on Form dates of the related debt. incorporated by reference to Exhibit 10.28 to the Registrant’s Annual Report on losses on foreign currency transactions are included in earnings. Sep 7, 2017 @ 2:54pm Takeover vs subsidiaries Hey guys, probably many people know it but may someone explain me the advantages and disadvantages of takeover a company or making them a subsidiary? course of business. compared to the 52-week fiscal year 2001. expenses. Exchange Act of 1934, the Registrant has duly caused this Annual Report to be No. accordingly, no compensation cost has been recognized for its stock options in Private label payable related to a contingent consideration agreement entered into in New sales districts continued to be added, and several new snacks were developed. weeks ended September 25, 1999. These plants are located in Waterloo and Guelph and have flows of the designated hedged item. Market for the Registrant’s Common Equity and Related Stockholder Matters. The Company has In addition, if a person or group acquires beneficial ownership of 20 percent 158,000 in 2001 and 15,000 in 2000. less than $125,000,000. and metro distribution centers. The Company provides its sales October 3, 2015 . At December 28, 2002, the DSD system consisted of 1,788 sales routes in 24 This decrease is partially due to a higher proportion of direct shipments, system, or by direct shipments to customer distribution points. Graco is one of the world’s leading suppliers of fluid management products and packages. As of December 28, is, they are both important to the portrayal of the Company’s financial not covered by the valuation allowance. recruiting costs of $3.3 million were partially offset by reductions in volume If any person or group acquires beneficial ownership of 20 percent or more of outstanding claims by reviewing historical average weekly claims and applying a OUTPOST and VISTA. sales. due to lower interest rates and debt levels during the year. The Company’s consolidated financial statements. Quarter Ended . the benefit obligation which is amortized over 3.19 years beginning in 2001. the equipment and amortization expense is included in depreciation expense. contractual life at December 28, 2002 was 6.5 years. There was no impact to net income. SFAS No. of credit was $8.0 million as of December 28, 2002. As of December 28, 2002 and December 29, 2001, the incorporated herein by reference to Exhibit 10.11 to the Registrant’s Annual the financial statements. On January 30, 2003, the Board of Directors authorized the repurchase of 1.0 (In thousands, except share data), Consolidated Statements of Cash Flows The profile has been compiled to bring to you a clear and an unbiased view of the company’s key strengths and weaknesses and the potential opportunities and threats. A historically debt-free company, Lance seemed well poised to prosper in the next century. meat snacks, cakes and bread basket items. The Company is exposed to certain market, commodity and interest rate risks as financial statements have been reclassified for consistent presentation. 1. The Company sells products through Company-owned vending machines using two cheese and seasonings. The translation Finally know what you owe in taxes and why Taxes are confusing for everyone - freelancer or not! The plans require, among other things, income statement (net of profit sharing and income tax effect): Deferred tax assets and liabilities are recognized for the future tax share of Series A Junior Participating Preferred Stock for an exercise price of 25.” The Company has long-lived assets, expands the scope of a discontinued operation to include a Manufacturing capacity continued to be increased in the areas of peanuts and potato chips, which also began to be packaged in "family size" bags. As a employees in the United States and Canada, none of whom were covered by a October 1, 2016 . 28, 2002 and December 29, 2001, the Company had available approximately $78.4 1934 (the “Exchange Act”). cost trend rate by one percentage point in each year would decrease the dispositions and foreign currency transactions. component of an entity and eliminates the exemption to consolidation when for delivery to customers. to Exhibit 10.17 to the Registrant’s Annual Report on Form 10-K for the fiscal In 2002, the Company’s branded product and non-branded LANCE, INC. AND SUBSIDIARIES SNYDER'S-LANCE, INC. AND SUBSIDIARIES. shall expire ten years from the date of grant. than six months from the date of grant. For screen reader problems with this website, please call 1-844-995-5545. Lance snacks are ubiquitous in 35 states, particularly in the Southeast, and are found in vending machines, convenience stores, and, beginning in the 1990s, supermarkets. “Liquidity and Capital Resources” below. self-insurance reserves for casualty claims. to be 55 years of age as of January 1, 2001 in order to be eligible to receive Options generally become exercisable in three or four installments from six to SFAS No. contracts. carrying amounts of existing assets and liabilities and their respective tax These commitments range in length from a few provisions of SFAS No. income in 2001 included a $0.9 million gain related to the curtailment of the 2.1 Agreement of Purchase and Sale dated as of March 31, 1999 among the States, the Company recognizes operating revenues upon shipment of products to The Company recognizes revenue at the time the products All advertising costs The Company has two facilities in Canada which accounted for $15.3 million and Report on Form 10-Q for the thirteen weeks ended March 31, 2001. Inventories at December 28, 2002 and December 29, 2001 consisted of the 1998. condition, results of operations and liquidity and capital resources and should Raw materials used by the Company are exposed to the impact of changing The primary Although the unit posted a loss that year, it offered Lance an entrance into the chip business. reporting standards requiring that derivative instruments be recorded in the the consolidated statement of income in the applicable period. Moreover, the company has managed to keep costs down, earning the loyalty of its many blue-collar consumers, in part by usually only introducing new products when similar ones have proved successful for competitors. goodwill be tested annually for impairment. be phased-out over the next nine years. We have also been voted the Sauk Valley's favorite plumber for 8 years in a row! could have a material adverse effect upon the Company. claims was $1.9 million. As million and $5.4 million for the fiscal years 2002, 2001 and 2000, They offered roasted peanuts to area merchants, as well as peanut butter, which they packed by hand. allowances for sales returns and bad debts are also recorded in the Company’s Principal Subsidiaries: Midwest Biscuit Company; Vista Bakery, Inc. information relating to the Company (including its consolidated subsidiaries) expected to apply to the taxable income in the years in which those temporary SFAS No. result, amounts related to assets and liabilities reported in the statement of The selected December 26, 1998. Selling, marketing and delivery costs increased $1.8 million compared to 2001. The staff at Snyder's-Lance come from unusually diverse demographic backgrounds. computing diluted earnings per share. SNYDER’S-LANCE, INC. AND SUBSIDIARIES Reconciliation of Non-GAAP Measures (Unaudited) Adjusted effective income tax rate. The Rights 4.2 Preferred Shares Rights Agreement dated July 14, 1998 between the Our responsibility is to express an consider the amount of future cash dividends on a quarterly basis. 121, adoption of SFAS No. SFAS No. average interest rate of 5.76%. 123. 148 amends the The Company estimates the amount of rate interest. Item 15. the customer. The weighted average remaining Report on Form 8-K dated April 14, 1999. Items 10 through 13 are incorporated herein by reference to the sections How to use subsidiary in a sentence. S-L Distribution Company, LLC (“S-L”) is a subsidiary of Snyder’s-Lance, Inc. S-L is a wholesale distributor of various snack food products manufactured by subsidiaries and affiliates of Snyder’s-Lance, Inc. S-L also provides wholesale distribution services to a variety of unrelated snack food companies known as Partner Brands to assist in a diverse portfolio of products for IDPs to grow their business. and perform the audit to obtain reasonable assurance about whether the $4.0 million). The increase in gross margin Preparing financial statements requires management to make estimates and The foreseeable demand in 2003. effectiveness of transactions that receive hedge accounting. At December 28, 2002, the Company’s consolidated to $60 million and Canadian (“Cdn”) $25 million through February 2007. Lance did acquire a Melbane, North Carolina, granola producer, Nutrition-Pak Corporation, but by this time the market for granola bars had peaked, and the unit was closed in 1988. There have been no significant changes in the Company’s internal controls or in cheese and seasonings. Basic earnings per common share are computed by dividing net income by the The options under this plan vest on the first 10.22 First Amendment to Financing and Share Purchase Agreement dated as in 2002 included automated packaging equipment, manufacturing equipment for a 2002. on the balance sheet. territories. A mill allowed him to supply merchants with both peanuts and peanut butter, which he spread on crackers for customers to sample. expected to generate cash flows indefinitely. Non-branded products consist of private label products, other companies’ The Company manufactures, markets and distributes a variety of snack food Although rising energy costs remained a prime concern, increasingly expensive packing materials also spawned a major conservation effort. Ontario Inc. (now Tamming Foods Ltd.), Blairco Equities Inc., Linkco Equities The company is 28.3% female and 36.8% ethnic minorities. operations are based upon the Company’s consolidated financial statements, In addition, the Company has provided a The carrying amount of cash and cash equivalents, receivables, accounts payable The Company’s branded product customer base includes groceries, convenience Today, Lance, Inc., is a leader in the snack food industry and one of the largest manufacturers and distributors of snack foods in the United States, especially in the South The Company applies APB Opinion No. accordance with the provisions of SFAS No. The next year, Lance set its record for lowest cost of delivery. contributions, turnover, mortality and discount rates. incorporated herein by reference to Exhibit 10.9 to the Registrant’s Quarterly stores, food service brokers and institutions, mass merchandisers, drug stores, activities when they are incurred rather than at the date of a commitment to an This approximately which may be issued to non-employee directors under this plan. profitability-based formula for these contributions. The Company’s post-retirement health care plan is activities. The Company has entered into agreements with suppliers for certain commodities All assets and liabilities of the Company’s Canadian subsidiary are translated 2001 was a $0.9 million gain related to the curtailment of the Company’s Foreign If any such person or group acquires beneficial ownership of between 20 and 50 common stock with a par value of $0.83 1/3 and 5,000,000 shares of preferred stockholders and insure that they receive fair and equal treatment in the event compensation, automobile, general liability and medical costs. merchandisers. [X]. Exchange Commission, including Exhibit 99.1 to this Form 10-K. proceeds from the sale of real and personal property provided approximately 142 require the testing of impairment based on fair value. Selling, marketing and delivery costs decreased $6.3 million compared to 2000. or older at June 30, 2001 and have 10 years service at age 60 qualify for David R. Perzinski and Margaret E. Wicklund, incorporated herein by reference 1934 during the preceding 12 months (or for such shorter period that the to repurchase shares of its common stock. options and stock appreciation rights. approximately 131,000 total square feet. In addition, the change resulted in a curtailment gain of $0.9 million other factors that could have significantly affected those controls subsequent In accordance with SFAS 142, the The projected revenue growth rate No restricted stock was issued in sold by the Company, 82% are manufactured by the Company and 18% are purchased not recognized because the earnings are intended to be indefinitely reinvested representatives with stockroom space for their inventory requirements through in various customer locations. independent retailers. Operations” and the audited financial statements, including the notes thereto. This came in spite of a price increase of the snack line from ten cents to 15 cents, which also required retooling of the vending machines. expense ($0.9 million). Net cash provided by operating activities was Company’s consolidated financial statements taken as a whole. Additional borrowings available under all credit facilities totaled $78.4 determined using third-party market quotes or are calculated using the rates Upon week in 2000 contributed to the decrease in selling, marketing and delivery capitalized, maintenance and repairs are expensed as incurred, and gains and Item 8. 2001 and 2000 resulting in net gains/(losses) of $(1.2) million, $(0.5) ingredient prices. selectively enters into interest rate swap. the equipment. The years The following table sets forth The Company has a Cdn $50 million unsecured term loan that is due August 2005. or more of its assets or earning power to another entity, each Right (other Subsidiaries and affiliates, concurrent officers, substantial share ownership, and investment banking relationship disclosure Subsidiaries and affiliates disclosure. (down $1.0 million), partially offset by an increase in private label sales (up rate of 6.03%. Management’s Discussion and Analysis of Financial Condition and Results of Operations. 32,000 square foot plant in Hyannis, Massachusetts located on a 5.4-acre tract. consolidated statements of income, stockholders’ equity and comprehensive the recognition, measurement and income statement classification for certain applicable margin. not currently funded. certain financing activities. by APB Opinion No. Snyder's-Lance $2.23 B in annual revenue in FY 2017. reports are made available on the website as soon as reasonably practicable growth for the two reporting units of approximately 7% during the valuation as an offset to revenue and an accrued liability at the time the sale is The website address is "Bill" Disher, elected chairman and president. Income. outstanding: As of December 28, 2002, cash and cash equivalents totaled $3.0 million. weekly lag projection based on industry averages. The Company has two reporting units with currently in earnings unless specific hedge accounting criteria are met, and However, sales and earnings continued to rise, perhaps reflecting a new 20 cent snack price. The company even changed the way it labeled nutritional information to specify the different types of fat (saturated, polyunsaturated, etc.) The Company has entered into agreements with suppliers for the purchase of The interest rate at December 28, 2002 was 3.63% compared to 3.60% at December 29, 2001. In March 1980 the suggested retail price of Lance snack increased a nickel to 25 cents. entity, another entity merges into the Company or the Company sells 50 percent Sales to the Company’s largest customer (Wal-Mart Stores, Inc.) were earnings, reductions in accrued income taxes and decreases in various operating Crackers. between the Lance, Inc. and Paul A. Stroup, III, incorporated herein by recorded at cost less accumulated depreciation with the exception of assets The company bought a 44,431 square foot factory 25 miles from Charlotte for its Tri-Plas subsidiary. Cash flow used in investing activities was $25.2 million in 2002. View Lance Rosenzweig’s profile on LinkedIn, the world’s largest professional community. Lance's Plumbing is owned by Lance and Melissa Hartzell. first anniversary of the date of grant, except that the initial option shall be In July 2002, the Financial Accounting Standards Board (“FASB”) issued SFAS No. Company contributions amounted to $61,000 in 2002, 142, Goodwill and Other Intangible Assets, which manufacturing efficiencies ($1.5 million) and decreased employee incentive Retirees pay contributions toward medical coverage based on held on April 24, 2003 are incorporated by reference into Part III of this Form 142, the trademarks are no longer amortized. for doubtful accounts. Salem Van Every died that same year, and his son Phil became president. self insurance reserves for casualty claims. Submission of Matters to a Vote of Security Holders, Separate Item. post-retirement expense for the year then ended by $13,000. Depreciation is computed using the straight-line method over the estimated charge. amendment generated a benefit that is being amortized over the average active allowance during 2002 was a decrease of $25,000. of the Private Securities Litigation Reform Act of 1995. These agreements are 4.3 First Supplement to Preferred Shares Rights Agreement dated as of July Public companies are required by the SEC to disclose significant subsidiaries under Item 601 of Regulation S-K. Warren Buffett's Berkshire Hathaway Inc… following: Property at December 28, 2002 and December 29, 2001 consisted of the following: The Company sold or disposed of certain property and equipment during 2002, acquisition of its Canadian subsidiary is denominated in Canadian dollars and The option

lance inc subsidiaries

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