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FLOWERS FOODS INC

CIK:0001128928|SEC Filings

Condensed Consolidated Statements of Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 18, 2026	Jul. 12, 2025	Jul. 18, 2026	Jul. 12, 2025
Income Statement [Abstract]
Net sales	$ 1,192,935	$ 1,242,835	$ 2,764,512	$ 2,797,065
Materials, supplies, labor and other production costs (exclusive of depreciation and amortization shown separately below)	615,005	636,060	1,410,394	1,414,406
Selling, distribution and administrative expenses	473,185	473,537	1,116,119	1,107,050
Depreciation and amortization	38,579	39,826	90,369	89,094
Plant closure costs and impairment of assets	0	0	0	7,397
Recovery on inferior ingredients	(1,963)	0	(1,963)	0
Restructuring charges	0	0	1,652	573
Income from operations	68,129	93,412	147,941	178,545
Interest expense	17,855	18,876	42,515	38,550
Interest income	(4,068)	(3,840)	(9,094)	(9,466)
Other components of net periodic pension and postretirement benefit plans cost (credit)	88	(88)	206	(205)
Income before income taxes	54,254	78,464	114,314	149,666
Income tax expense	13,598	20,099	31,603	38,303
Net income	$ 40,656	$ 58,365	$ 82,711	$ 111,363
Basic:
Net income per common share	$ 0.19	$ 0.28	$ 0.39	$ 0.53
Weighted average shares outstanding	212,132	211,386	211,982	211,276
Diluted:
Net income per common share	$ 0.19	$ 0.28	$ 0.39	$ 0.53
Weighted average shares outstanding	212,493	211,991	212,545	212,084
Cash dividends paid per common share	$ 0.1250	$ 0.2475	$ 0.3725	$ 0.4875

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jul. 18, 2026	Jul. 12, 2025
CASH FLOWS PROVIDED BY (DISBURSED FOR) OPERATING ACTIVITIES:
Net income	$ 82,711	$ 111,363
Adjustments to reconcile net income to net cash provided by operating activities:
Stock-based compensation	19,329	19,169
Loss (gain) reclassified from accumulated other comprehensive income to net income	1,024	(482)
Depreciation and amortization	90,369	89,094
Deferred income taxes	20,608	31,169
Impairment of assets	0	5,495
Provision for inventory obsolescence	3,445	2,757
Allowances for accounts receivable	3,372	4,146
Pension and postretirement plans cost	745	221
Other	614	271
Changes in operating assets and liabilities, net of acquisitions and disposals:
Accounts receivable	(23,022)	(6,018)
Inventories	(9,339)	(21,517)
Hedging activities	3,060	5,836
Accounts payable	16,403	54,734
Other assets and accrued liabilities	32,226	(29,775)
NET CASH PROVIDED BY OPERATING ACTIVITIES	241,545	266,463
CASH FLOWS (DISBURSED FOR) PROVIDED BY INVESTING ACTIVITIES:
Purchases of property, plant and equipment	(44,476)	(56,366)
Acquisition of business, net of cash acquired	0	(791,880)
Proceeds from insurance settlement	718	1,389
Other investing activities	1,155	740
NET CASH DISBURSED FOR INVESTING ACTIVITIES	(44,760)	(871,387)
CASH FLOWS (DISBURSED FOR) PROVIDED BY FINANCING ACTIVITIES:
Dividends paid, including dividends on stock-based payment awards	(81,024)	(104,772)
Stock repurchases	(3,824)	(5,499)
Change in bank overdrafts	800	(3,481)
Proceeds from debt borrowings	52,000	866,880
Debt obligation payments	(122,000)	(132,000)
Payments on financing leases	(15)	(44)
Payments for financing fees	(2,056)	(10,120)
NET CASH (DISBURSED FOR) PROVIDED BY FINANCING ACTIVITIES	(156,119)	610,964
Net increase in cash and cash equivalents	40,666	6,040
Cash and cash equivalents at beginning of period	12,100	5,005
Cash and cash equivalents at end of period	52,766	11,045
Independent Distributor Rights
CASH FLOWS (DISBURSED FOR) PROVIDED BY INVESTING ACTIVITIES:
Repurchase of independent distribution rights, net of principal payments from notes receivable	$ (2,157)	$ (25,270)

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jul. 18, 2026	Jan. 03, 2026
Current assets:
Cash and cash equivalents	$ 52,766	$ 12,100
Accounts and notes receivable, net of allowances of $19,022 and $18,131, respectively	371,510	352,524
Inventories, net:
Raw materials	75,499	75,240
Packaging materials	30,193	28,455
Finished goods	101,859	97,962
Inventories, net	207,551	201,657
Spare parts and supplies	102,209	97,561
Other	52,309	65,252
Total current assets	786,345	729,094
Property, plant and equipment:
Property, plant and equipment	2,663,179	2,624,997
Less: accumulated depreciation	(1,736,325)	(1,672,272)
Property, plant and equipment, net	926,854	952,725
Financing lease right-of-use assets	0	295
Operating lease right-of-use assets	309,305	320,821
Notes receivable from independent distributor partners	108,333	108,482
Assets held for sale	27,901	26,690
Other assets	14,509	13,317
Goodwill	1,047,119	1,047,775
Customer relationships, net	279,117	292,878
Trademarks - finite-lived, net	203,801	209,147
Trademarks - indefinite-lived	482,500	482,500
Other intangible assets, net	58	137
Total assets	4,185,842	4,183,861
Current liabilities:
Current maturities of long-term debt	399,885	399,575
Current maturities of financing leases	0	116
Current maturities of operating leases	75,162	73,662
Accounts payable	330,705	312,675
Other accrued liabilities	212,458	190,129
Total current liabilities	1,018,210	976,157
Noncurrent long-term debt	1,286,361	1,355,557
Noncurrent financing lease obligations	0	115
Noncurrent operating lease obligations	241,940	251,182
Total long-term debt and right-of-use lease liabilities	1,528,301	1,606,854
Other liabilities:
Postretirement/post-employment obligations	8,820	8,603
Deferred taxes	270,360	246,959
Other long-term liabilities	36,650	41,801
Total other long-term liabilities	315,830	297,363
Commitments and Contingencies
Stockholders’ equity:
Common stock - $0.01 stated par value and $0.001 current par value, 500,000,000 authorized shares and 228,729,585 shares issued	199	199
Treasury stock -- 16,672,167 shares and 17,551,360 shares, respectively	(261,706)	(277,804)
Capital in excess of par value	729,552	730,145
Retained earnings	853,761	852,074
Accumulated other comprehensive income (loss)	1,695	(1,127)
Total stockholders’ equity	1,323,501	1,303,487
Total liabilities and stockholders’ equity	4,185,842	4,183,861
Series A Preferred Stock
Stockholders’ equity:
Preferred Stock, value
Series B Preferred Stock
Stockholders’ equity:
Preferred Stock, value