Attached files

file filename
EXCEL - IDEA: XBRL DOCUMENT - NATIONAL BEVERAGE CORPFinancial_Report.xls
10-Q - FORM 10-Q - NATIONAL BEVERAGE CORPfizz_10q-102712.htm
XML - IDEA: XBRL DOCUMENT - NATIONAL BEVERAGE CORPR9.htm
XML - IDEA: XBRL DOCUMENT - NATIONAL BEVERAGE CORPR1.htm
XML - IDEA: XBRL DOCUMENT - NATIONAL BEVERAGE CORPR4.htm
XML - IDEA: XBRL DOCUMENT - NATIONAL BEVERAGE CORPR8.htm
XML - IDEA: XBRL DOCUMENT - NATIONAL BEVERAGE CORPR5.htm
XML - IDEA: XBRL DOCUMENT - NATIONAL BEVERAGE CORPR7.htm
XML - IDEA: XBRL DOCUMENT - NATIONAL BEVERAGE CORPR2.htm
XML - IDEA: XBRL DOCUMENT - NATIONAL BEVERAGE CORPR3.htm
XML - IDEA: XBRL DOCUMENT - NATIONAL BEVERAGE CORPR6.htm
XML - IDEA: XBRL DOCUMENT - NATIONAL BEVERAGE CORPR16.htm
XML - IDEA: XBRL DOCUMENT - NATIONAL BEVERAGE CORPR11.htm
XML - IDEA: XBRL DOCUMENT - NATIONAL BEVERAGE CORPR24.htm
XML - IDEA: XBRL DOCUMENT - NATIONAL BEVERAGE CORPR19.htm
XML - IDEA: XBRL DOCUMENT - NATIONAL BEVERAGE CORPR26.htm
XML - IDEA: XBRL DOCUMENT - NATIONAL BEVERAGE CORPR14.htm
XML - IDEA: XBRL DOCUMENT - NATIONAL BEVERAGE CORPR21.htm
XML - IDEA: XBRL DOCUMENT - NATIONAL BEVERAGE CORPR17.htm
XML - IDEA: XBRL DOCUMENT - NATIONAL BEVERAGE CORPR25.htm
XML - IDEA: XBRL DOCUMENT - NATIONAL BEVERAGE CORPR18.htm
XML - IDEA: XBRL DOCUMENT - NATIONAL BEVERAGE CORPR22.htm
XML - IDEA: XBRL DOCUMENT - NATIONAL BEVERAGE CORPR23.htm
XML - IDEA: XBRL DOCUMENT - NATIONAL BEVERAGE CORPR27.htm
XML - IDEA: XBRL DOCUMENT - NATIONAL BEVERAGE CORPR15.htm
XML - IDEA: XBRL DOCUMENT - NATIONAL BEVERAGE CORPR12.htm
XML - IDEA: XBRL DOCUMENT - NATIONAL BEVERAGE CORPR10.htm
XML - IDEA: XBRL DOCUMENT - NATIONAL BEVERAGE CORPR20.htm
EX-31.2 - EXHIBIT 31.2 - NATIONAL BEVERAGE CORPex31-2.htm
EX-10.1 - EXHIBIT 10.1 - NATIONAL BEVERAGE CORPex10-1.htm
EX-32.1 - EXHIBIT 32.1 - NATIONAL BEVERAGE CORPex32-1.htm
EX-31.1 - EXHIBIT 31.1 - NATIONAL BEVERAGE CORPex31-1.htm
EX-32.2 - EXHIBIT 32.2 - NATIONAL BEVERAGE CORPex32-2.htm
v2.4.0.6
Note 6 - Derivative Financial Instruments
6 Months Ended
Oct. 27, 2012
Derivative Instruments and Hedging Activities Disclosure [Text Block]
6.  DERIVATIVE FINANCIAL INSTRUMENTS

We have entered into various aluminum swap contracts to partially mitigate our exposure to changes in the cost of aluminum cans through April 2013.  The financial instruments were designated and accounted for as a cash flow hedge.  Accordingly, gains or losses attributable to the effective portion of the cash flow hedge are reported in Accumulated Other Comprehensive Income (“AOCI”) and reclassified into earnings through cost of sales in the period in which the hedged transaction affects earnings.  The ineffective portion of the change in fair value of our cash flow hedge was immaterial.  The following summarizes the gains (losses) recognized in the Consolidated Statements of Income and AOCI relative to cash flow hedges for the three and six months ended October 27, 2012 and October 29, 2011:

   
(In thousands)
 
   
Three Months Ended
   
Six Months Ended
 
   
2012
   
2011
   
2012
   
2011
 
Recognized in AOCI:
                       
Gain (loss) before income taxes
  $ 175     $ (3,348 )   $ (2,143 )   $ (3,936 )
Less income tax provision (benefit)
    86       (1,215 )     (795 )     (1,434 )
Net
  $ 89     $ (2,133 )   $ (1,348 )   $ (2,502 )
Reclassified from AOCI to cost of sales:
                               
Gain (loss) before income taxes
  $ (644 )   $ 576     $ (1,546 )   $ 1,719  
Less income tax provision (benefit)
    (235 )     205       (578 )     612  
Net
  $ (409 )   $ 371     $ (968 )   $ 1,107  
Net change to AOCI
  $ 498     $ (2,504 )   $ (380 )   $ (3,609 )

As of October 27, 2012, the notional amount of our outstanding aluminum swap contracts was $12.6 million and, assuming no change in the commodity prices, $1.1 million of unrealized net loss (before tax) will be reclassified from AOCI and recognized in cost of sales over the next seven months.  See Note 1.

As of October 27, 2012 and April 28, 2012, the fair value of the derivative liability was $1.1 million and $503,000, respectively, which was included in Accrued liabilities.  Such valuation does not entail a significant amount of judgment and the inputs that are significant to the fair value measurement are Level 2 in the fair value hierarchy as they are observable market based inputs or unobservable inputs that are corroborated by market data.