10-K Filing

SENECA FOODS CORP CIK: 88948 FY 2021

Filing Information

Form Type	10-K
Accession Number	`0001437749-22-014782`
Period End Date	20220331
Filing Date	20220610
Fiscal Year	2021
Fiscal Period	FY
XBRL Instance	senea20220331_10k_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 72 Income Statement 36 Cash Flow Statement 64 Stockholders Equity 9 Comprehensive Income 8

Balance Sheet 72 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$54.00K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$339.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$59.84M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$10.90M	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $54 and $339, respectively	`AccountsReceivableNetCurrent`	$92.22M	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $54 and $339, respectively	`AccountsReceivableNetCurrent`	$119.17M	USD	Point-in-time
Contracts receivable	`ContractWithCustomerAssetNetCurrent`	$911.00K	USD	Point-in-time
Contracts receivable	`ContractWithCustomerAssetNetCurrent`	$939.00K	USD	Point-in-time
Inventories	`InventoryNet`	$343.14M	USD	Point-in-time
Inventories	`InventoryNet`	$410.33M	USD	Point-in-time
Assets held for sale	`AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$5.98M	USD	Point-in-time
Assets held for sale	`AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$8.66M	USD	Point-in-time
Refundable income taxes	`IncomeTaxesReceivable`	$8.38M	USD	Point-in-time
Refundable income taxes	`IncomeTaxesReceivable`	$3.87M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$3.15M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$4.25M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$555.44M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$516.30M	USD	Point-in-time
Pension assets	`DefinedBenefitPlanAssetsForPlanBenefitsNoncurrent`	$52.87M	USD	Point-in-time
Pension assets	`DefinedBenefitPlanAssetsForPlanBenefitsNoncurrent`	$62.85M	USD	Point-in-time
Right-of-use assets operating, net	`OperatingLeaseRightOfUseAsset`	$34.01M	USD	Point-in-time
Right-of-use assets operating, net	`OperatingLeaseRightOfUseAsset`	$42.19M	USD	Point-in-time
Right-of-use assets financing, net	`FinanceLeaseRightOfUseAsset`	$34.87M	USD	Point-in-time
Right-of-use assets financing, net	`FinanceLeaseRightOfUseAsset`	$30.61M	USD	Point-in-time
Property, plant, and equipment, net	`PropertyPlantAndEquipmentNet`	$268.04M	USD	Point-in-time
Property, plant, and equipment, net	`PropertyPlantAndEquipmentNet`	$248.58M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$1.80M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$8.81M	USD	Point-in-time
Total assets	`Assets`	$909.35M	USD	Point-in-time
Total assets	`Assets`	$947.03M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$74.09M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$87.60M	USD	Point-in-time
Deferred revenue	`ContractWithCustomerLiabilityCurrent`	$7.66M	USD	Point-in-time
Deferred revenue	`ContractWithCustomerLiabilityCurrent`	$4.29M	USD	Point-in-time
Accrued vacation	`AccruedVacationCurrent`	$11.66M	USD	Point-in-time
Accrued vacation	`AccruedVacationCurrent`	$11.61M	USD	Point-in-time
Accrued payroll	`AccruedSalariesCurrent`	$15.37M	USD	Point-in-time
Accrued payroll	`AccruedSalariesCurrent`	$17.00M	USD	Point-in-time
Other accrued expenses	`OtherAccruedLiabilitiesCurrent`	$23.27M	USD	Point-in-time
Other accrued expenses	`OtherAccruedLiabilitiesCurrent`	$24.40M	USD	Point-in-time
Current portion of long-term debt and lease obligations	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$28.32M	USD	Point-in-time
Current portion of long-term debt and lease obligations	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$26.02M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$173.16M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$158.13M	USD	Point-in-time
Long-term debt, less current portion	`LongTermDebtNoncurrent`	$94.08M	USD	Point-in-time
Long-term debt, less current portion	`LongTermDebtNoncurrent`	$109.62M	USD	Point-in-time
Operating lease obligations, less current portion	`OperatingLeaseLiabilityNoncurrent`	$22.53M	USD	Point-in-time
Operating lease obligations, less current portion	`OperatingLeaseLiabilityNoncurrent`	$27.77M	USD	Point-in-time
Financing lease obligations, less current portion	`FinanceLeaseLiabilityNoncurrent`	$19.23M	USD	Point-in-time
Financing lease obligations, less current portion	`FinanceLeaseLiabilityNoncurrent`	$19.94M	USD	Point-in-time
Deferred income tax liability, net	`DeferredIncomeTaxLiabilitiesNet`	$28.31M	USD	Point-in-time
Deferred income tax liability, net	`DeferredIncomeTaxLiabilitiesNet`	$32.94M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$4.01M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$5.00M	USD	Point-in-time
Total liabilities	`Liabilities`	$331.53M	USD	Point-in-time
Total liabilities	`Liabilities`	$363.19M	USD	Point-in-time
Preferred stock	`PreferredStockValue`	$663.00K	USD	Point-in-time
Preferred stock	`PreferredStockValue`	$644.00K	USD	Point-in-time
Common stock	`CommonStockValue`	$3.04M	USD	Point-in-time
Common stock	`CommonStockValue`	$3.04M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$98.64M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$98.50M	USD	Point-in-time
Treasury stock, at cost	`TreasuryStockValue`	$91.20M	USD	Point-in-time
Treasury stock, at cost	`TreasuryStockValue`	$128.88M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-26.47M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-19.07M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$585.87M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$636.86M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$577.82M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$583.84M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$909.35M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$947.03M	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerIncludingAssessedTax`	$1.47B	USD	Annual
Interest income	`InvestmentIncomeInterest`	$42.00K	USD	Annual
Net sales	`RevenueFromContractWithCustomerIncludingAssessedTax`	$1.39B	USD	Annual
Interest income	`InvestmentIncomeInterest`	$63.00K	USD	Annual
Cost of products sold	`CostOfGoodsAndServicesSold`	$1.24B	USD	Annual
Cost of products sold	`CostOfGoodsAndServicesSold`	$1.24B	USD	Annual
Selling, general, and administrative expense	`SellingGeneralAndAdministrativeExpense`	$76.34M	USD	Annual
Selling, general, and administrative expense	`SellingGeneralAndAdministrativeExpense`	$79.95M	USD	Annual
Other operating expense (income), net	`OtherOperatingIncomeExpenseNet`	$-1.17M	USD	Annual
Other operating expense (income), net	`OtherOperatingIncomeExpenseNet`	$29.01M	USD	Annual
Plant restructuring	`RestructuringChargesCreditsNet`	$182.00K	USD	Annual
Plant restructuring	`RestructuringChargesCreditsNet`	$70.00K	USD	Annual
Total costs and expenses	`CostsAndExpenses`	$1.29B	USD	Annual
Total costs and expenses	`CostsAndExpenses`	$1.31B	USD	Annual
Operating income	`OperatingIncomeLoss`	$70.34M	USD	Annual
Operating income	`OperatingIncomeLoss`	$181.07M	USD	Annual
Interest expense, net of interest income of $63 and $42, respectively	`InterestExpense`	$5.64M	USD	Annual
Interest expense, net of interest income of $63 and $42, respectively	`InterestExpense`	$6.12M	USD	Annual
Loss from equity investment	`IncomeLossFromEquityMethodInvestments`	$-7.78M	USD	Annual
Loss from equity investment	`IncomeLossFromEquityMethodInvestments`	$-11.45M	USD	Annual
Other non-operating (income) expense	`OtherNonoperatingIncomeExpense`	$9.30M	USD	Annual
Other non-operating (income) expense	`OtherNonoperatingIncomeExpense`	$-3.47M	USD	Annual
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$66.23M	USD	Annual
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$160.02M	USD	Annual
Income taxes	`IncomeTaxExpenseBenefit`	$33.92M	USD	Annual
Income taxes	`IncomeTaxExpenseBenefit`	$15.22M	USD	Annual
Net earnings	`NetIncomeLoss`	$51.01M	USD	Annual
Net earnings	`NetIncomeLoss`	$126.10M	USD	Annual
Basic (in dollars per share)	`EarningsPerShareBasic`	$13.82	USD	Annual
Basic (in dollars per share)	`EarningsPerShareBasic`	$5.83	USD	Annual
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$5.79	USD	Annual
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$13.72	USD	Annual
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	9.09M	shares	Annual
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	8.71M	shares	Annual
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	9.16M	shares	Annual
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.78M	shares	Annual

Cash Flow Statement 64 line items

Line Item	Tag	Value	Unit	Period
Net earnings	`NetIncomeLoss`	$51.01M	USD	Annual
Net earnings	`NetIncomeLoss`	$126.10M	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$36.52M	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$32.38M	USD	Annual
Deferred income tax expense	`DeferredIncomeTaxExpenseBenefit`	$7.06M	USD	Annual
Deferred income tax expense	`DeferredIncomeTaxExpenseBenefit`	$16.65M	USD	Annual
Gain on the sale of assets	`GainLossOnDispositionOfAssets1`	$31.94M	USD	Annual
Gain on the sale of assets	`GainLossOnDispositionOfAssets1`	$1.86M	USD	Annual
Provision for restructuring and impairment	`RestructuringCharges`	$182.00K	USD	Annual
Provision for restructuring and impairment	`RestructuringCharges`	$284.00K	USD	Annual
Gain on debt forgiveness	`GainsLossesOnExtinguishmentOfDebt`	-	USD	Annual
Gain on debt forgiveness	`GainsLossesOnExtinguishmentOfDebt`	$500.00K	USD	Annual
Loss from equity investment	`IncomeLossFromEquityMethodInvestments`	$-7.78M	USD	Annual
Loss from equity investment	`IncomeLossFromEquityMethodInvestments`	$-11.45M	USD	Annual
401(k) match stock contribution	`OtherPostretirementBenefitsExpenseReversalOfExpenseNoncash`	$1.48M	USD	Annual
401(k) match stock contribution	`OtherPostretirementBenefitsExpenseReversalOfExpenseNoncash`	$1.11M	USD	Annual
Accounts and contracts receivable	`IncreaseDecreaseInAccountsReceivable`	$-24.28M	USD	Annual
Accounts and contracts receivable	`IncreaseDecreaseInAccountsReceivable`	$26.98M	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$-68.49M	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$67.19M	USD	Annual
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-4.08M	USD	Annual
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$1.11M	USD	Annual
Accounts payable, accrued expenses, and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$19.51M	USD	Annual
Accounts payable, accrued expenses, and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-65.94M	USD	Annual
Income taxes	`IncreaseDecreaseInIncomeTaxes`	$4.52M	USD	Annual
Income taxes	`IncreaseDecreaseInIncomeTaxes`	$-4.04M	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$183.18M	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$30.15M	USD	Annual
Additions to property, plant, and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$53.37M	USD	Annual
Additions to property, plant, and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$71.43M	USD	Annual
Proceeds from the sale of assets	`ProceedsFromSalesOfAssetsInvestingActivities`	$8.18M	USD	Annual
Proceeds from the sale of assets	`ProceedsFromSalesOfAssetsInvestingActivities`	$73.69M	USD	Annual
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$2.26M	USD	Annual
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-45.19M	USD	Annual
Proceeds from issuance of long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$398.55M	USD	Annual
Proceeds from issuance of long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$478.06M	USD	Annual
Payments of long-term debt	`RepaymentsOfLongTermDebt`	$597.05M	USD	Annual
Payments of long-term debt	`RepaymentsOfLongTermDebt`	$383.01M	USD	Annual
Payments on financing leases	`FinanceLeasePrincipalPayments`	$7.87M	USD	Annual
Payments on financing leases	`FinanceLeasePrincipalPayments`	$6.32M	USD	Annual
Change in other assets	`ProceedsFromPaymentsForOtherFinancingActivities`	$-6.60M	USD	Annual
Change in other assets	`ProceedsFromPaymentsForOtherFinancingActivities`	$-2.76M	USD	Annual
Purchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$38.79M	USD	Annual
Purchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$4.36M	USD	Annual
Preferred stock dividends paid	`PaymentsOfDividends`	$23.00K	USD	Annual
Preferred stock dividends paid	`PaymentsOfDividends`	$23.00K	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-136.30M	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-33.90M	USD	Annual
Net (decrease) increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-48.93M	USD	Annual
Net (decrease) increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$49.13M	USD	Annual
Cash and cash equivalents, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$59.84M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$10.70M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$10.90M	USD	Point-in-time
Cash and cash equivalents, end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$59.84M	USD	Point-in-time
Cash and cash equivalents, end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$10.70M	USD	Point-in-time
Cash and cash equivalents, end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$10.90M	USD	Point-in-time
Interest	`InterestPaidNet`	$5.09M	USD	Annual
Interest	`InterestPaidNet`	$4.48M	USD	Annual
Income taxes paid	`IncomeTaxesPaidNet`	$2.97M	USD	Annual
Income taxes paid	`IncomeTaxesPaidNet`	$22.69M	USD	Annual
Property, plant and equipment issued under finance and operating leases	`CapitalLeaseObligationsIncurred`	$3.75M	USD	Annual
Property, plant and equipment issued under finance and operating leases	`CapitalLeaseObligationsIncurred`	$18.73M	USD	Annual
Property, plant and equipment purchased on account	`CapitalExpendituresIncurredButNotYetPaid`	$1.27M	USD	Annual
Property, plant and equipment purchased on account	`CapitalExpendituresIncurredButNotYetPaid`	$19.00K	USD	Annual

Stockholders Equity 9 line items

Line Item	Tag	Value	Unit	Period
Change in pension and postretirement benefits, tax	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax`	$2.42M	USD	Annual
Change in pension and postretirement benefits, tax	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax`	$-19.53M	USD	Annual
Balance	`StockholdersEquity`	$577.82M	USD	Point-in-time
Balance	`StockholdersEquity`	$583.84M	USD	Point-in-time
Net earnings	`NetIncomeLoss`	$51.01M	USD	Annual
Net earnings	`NetIncomeLoss`	$126.10M	USD	Annual
Cash dividends paid on preferred stock	`DividendsPreferredStockCash`	$23.00K	USD	Annual
Balance	`StockholdersEquity`	$577.82M	USD	Point-in-time
Balance	`StockholdersEquity`	$583.84M	USD	Point-in-time

Comprehensive Income 8 line items

Line Item	Tag	Value	Unit	Period
Change in pension and postretirement benefits, tax	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax`	$2.42M	USD	Annual
Change in pension and postretirement benefits, tax	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax`	$-19.53M	USD	Annual
Net earnings	`NetIncomeLoss`	$51.01M	USD	Annual
Net earnings	`NetIncomeLoss`	$126.10M	USD	Annual
Change in pension and postretirement benefits (net of income tax of $2,423 and ($19,528), respectively)	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentBeforeReclassificationAdjustmentsAndTax`	$7.40M	USD	Annual
Change in pension and postretirement benefits (net of income tax of $2,423 and ($19,528), respectively)	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentBeforeReclassificationAdjustmentsAndTax`	$-60.15M	USD	Annual
Total	`ComprehensiveIncomeNetOfTax`	$186.25M	USD	Annual
Total	`ComprehensiveIncomeNetOfTax`	$43.61M	USD	Annual

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.