Item 2 — Properties
−Removed: We own or lease five principal production facilities, one of which is currently classified as held for sale.
+Added: We own or lease four principal production facilities.
Our primary processing and distribution facility is located at our Elgin, Illinois site which also houses our primary manufacturing operations and corporate headquarters (the “Elgin Site”).
The remaining principal production facilities are located in Bainbridge, Georgia;
−Removed: Garysburg, North Carolina;
Selma, Texas and Gustine, California.
In addition, we operate a retail store at the Elgin Site.
−Removed: As described below in Part II, Item 7 — “Management’s Discussion and Analysis of Financial Condition and Results of Operations — Liquidity and Capital Resources”, the Mortgage Facility (as defined below) is secured by mortgages on essentially all of our owned real property located in Elgin, Illinois, Gustine, California and Garysburg, North Carolina.
+Added: As described below in Part II, Item 7 — “Management’s Discussion and Analysis of Financial Condition and Results of Operations — Liquidity and Capital Resources”, the Mortgage Facility (as defined below) is secured by mortgages on essentially all of our owned real property located in Elgin, Illinois and Gustine, California.
We believe that our facilities are generally well maintained and in good operating condition.
3 unchanged sentences
Bainbridge, Georgia
−Removed: Peanut shelling, purchasing, processing, packaging, warehousing and distribution
−Removed: Garysburg, North Carolina (1)
−Removed: Formerly used for peanut shelling, purchasing, warehousing and distribution
+Added: Peanut shelling, purchasing, processing,
+Added: packaging, warehousing and distribution
Selma, Texas (1)
−Removed: Pecan shelling, processing, bulk packaging, warehousing and distribution
+Added: Pecan shelling, processing, bulk packaging,
+Added: warehousing and distribution
Gustine, California
−Removed: Walnut shelling, processing, packaging, warehousing and distribution
+Added: Walnut shelling, processing, packaging,
+Added: warehousing and distribution
Elgin, Illinois (2)
5 unchanged sentences
warehousing, distribution and corporate offices
−Removed: After the fire that occurred at our Garysburg facility during fiscal 2020, the Company considered strategic alternatives for the facility and decided to cease all operations permanently at the end of fiscal 2021.
−Removed: As of June 24, 2021, the facility and its related assets have been reclassified as held for sale on the Consolidated Balance Sheets.
−Removed: See Note 19 — “Garysburg, North Carolina Facility” to the Consolidated Financial Statements.
The sale and lease back of the Selma properties to related party partnerships was consummated in fiscal 2007.
−Removed: See Note 7 —“Long-Term Debt” to the Consolidated Financial Statements.
+Added: See Note 7 —“Long-Term Debt” of the Notes to the Consolidated Financial Statements.
The Elgin Office Building (part of the Elgin Site) was acquired in April 2005.
4 unchanged sentences
Further capital expenditures will likely be necessary to fully lease the remaining space.
+Added: After the fire that occurred at our Garysburg facility during fiscal 2020, the Company decided to cease all operations permanently during fiscal 2021 and sell the facility.
+Added: The property and remaining equipment were sold during the first quarter of fiscal 2022.
+Added: See Note 18 — “Garysburg, North Carolina Facility” of the Notes to the Consolidated Financial Statements for additional information.
Manufacturing Capability, Utilization, Technology and Engineering
17 unchanged sentences
The quantity of walnuts shelled will vary depending on the amount of inshell nuts purchased due to, among other things, commodity acquisition cost risk, the size and cost of the crop, the impact of international demand, and expected demand based on our current sales forecast.
−Removed: The Garysburg facility had the capacity to process approximately 60 million inshell pounds of farmer stock peanuts annually.
−Removed: During fiscal 2021, the Garysburg facility processed approximately 5 million inshell pounds of peanuts.
−Removed: Due to a fire that occurred at our Garysburg facility during fiscal 2020, the Company considered strategic alternatives for the facility and decided to cease all operations permanently at the facility by the end of fiscal 2021.
−Removed: See Note 19 — “Garysburg, North Carolina Facility” of the Notes to Consolidated Financial Statements for additional detail regarding the facility and the Company’s plan to sell these assets.
The Bainbridge, Selma and Gustine facilities are equipped to handle the processing, packaging, warehousing and distribution, and in the case of our Bainbridge facility, the purchasing of nuts.
2 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.