FLOWERS FOODS INC
For the period ended Dec 28, 2024. Filed Feb 18, 2025.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Feb 18, 2025
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Item 2. Properties
Our principal executive offices are company owned and located in Thomasville, Georgia. The company also leases properties that are used for shared services functions and our IT group and owns several properties for our corporate offices. The company also has an additional shared services center in Phoenix, Arizona.
We operate 45 bakeries across the continental U.S. Each of the listed bakeries is company owned except for Modesto, California and Philadelphia, Pennsylvania. We believe that our bakeries have adequate production utilization and can meet the current operational requirements for the operation of the business. As discussed in Item 1., Business, of this Form 10-K, the company has restructured its plant operation responsibilities from the sales function to the supply chain function. Additionally, across the continental U.S. in the markets we serve, we own approximately 140 warehouse/distribution centers and lease approximately 500 warehouse/distribution centers.
The table below sets forth the production and sales operations in our bakeries:
| Alabama | Kansas | Texas |
|---|---|---|
| Birmingham (P) | Lenexa (PS) | Denton (PS) |
| Montgomery (P) | Kentucky | El Paso (PS) |
| Tuscaloosa (P) | Bardstown (PS) | Houston (P) |
| Arizona | London (PS)* | Houston (PS) |
| Mesa (PS)* | Louisiana | San Antonio (PS) |
| Tolleson (P) | Lafayette (P) | Tyler (PS) |
| Arkansas | New Orleans (PS) | Utah |
| Batesville (PS) | Maine | West Jordan (PS) |
| Texarkana (P) | Lewiston (P) | Virginia |
| California | Lewiston (PS) | Lynchburg (P) |
| Modesto (Leased) (P) | Nevada | Norfolk (PS) |
| Colorado | Henderson (PS) | |
| Johnstown (P) | North Carolina | |
| Florida | Goldsboro (PS) | |
| Bradenton (PS) | Jamestown (PS) | |
| Jacksonville (PS) | Newton (PS) | |
| Lakeland (P) | Oregon | |
| Miami (PS) | Milwaukie (PS)* | |
| Georgia | Pennsylvania | |
| Atlanta (P)^ | Oxford (PS) | |
| Savannah (P) | Philadelphia (Leased) (PS) | |
| Suwanee (P) | Tennessee | |
| Thomasville (PS) | Cleveland (P) | |
| Tucker (P) | Crossville (PS)* | |
| Villa Rica (P) | Knoxville (PS) | |
| P - Production Only | ||
| PS - Production and Sales | ||
| *Only thrift store sales | ||
^ Company announced the closure of this bakery effective late in the first quarter of Fiscal 2025.
We believe our facilities are well-maintained and adequate, that they are being appropriately utilized and that they have sufficient production utilization for their present intended purposes. Utilization is actual labor time as a percent of available hours of production in a week (based on 120 hours/week for three shifts). On a consolidated basis during Fiscal 2024, our average quarterly production utilization ranged from 89% to 97% across all bakeries. During heightened periods of demand, the company can improve utilization by streamlining production with longer production runs and fewer differentiated products produced. Production utilization is not materially different when a sales facility is also located at the bakery.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.