Our website is accessible to the public at http://www.jbssinc.com. We distribute products from each of our principal facilities. See Part I, Item 1A — "Risk Factors". ( Mr. Sanfilippo is responsible for overseeing our plant operations. He served as our Chief Information Officer from November 2006 to January 2018. In August 2016, he was appointed Treasurer. In August 2012, Mr. Gardier was promoted to Senior Vice President, Consumer Sales. Cash used in investing activities was $14.6 million in fiscal 2019. We paid dividends totaling $29.1 million in fiscal 2019. At June 25, 2020, the weighted average interest rate for the Credit Facility was 2.40%. All cash received from customers is required to be applied against the Credit Facility. One five-year renewal option remains. At June 25, 2020, $9.5 million of the debt obligation was outstanding. We estimate the fair value using level 3 inputs as defined by the fair value hierarchy. 36 JOHN B. SANFILIPPO & SON, INC. The accompanying notes are an integral part of these consolidated financial statements. The reserve for estimated cash discounts is based on historical experience. Inventory costs are reviewed at least quarterly. We maintain significant inventories of bulk-stored inshell pecans, peanuts and walnuts. Changes in estimates may affect the ending inventory balances, as well as gross profit. Repairs and maintenance costs are charged to expense as incurred. We did not record any impairment of long-lived assets for the last three fiscal years. Two buildings are located on the Elgin Site, one of which is an office building. Approximately 67% of the rentable area in the office building is currently vacant. In addition, there has been no significant change in our inherent credit risk. Sales to three customers exceeded 10% of net sales during fiscal 2018. We then amortize compensation expense over the vesting period. The actual benefits ultimately realized may differ from our estimates. Additionally, enhanced qualitative and quantitative disclosures are required. This new guidance became effective for the Company beginning in fiscal year 2020. In July 2018, the FASB issued ASU No. We elected the short-term lease recognition exemption for all leases that qualify. Refer to Note 15 — "Accumulated Other Comprehensive Loss" for additional detail. ASU 2018-02 was not applied retrospectively. This Update is effective for the Company beginning in fiscal 2022. Therefore the timing of our revenue recognition requires little judgment. Payment terms usually include early pay discounts. We did not elect the practical expedients regarding hindsight or land easements. Implicit rates are used when readily determinable. None of our leases currently contain options to extend the term. Lease agreements may include options to renew. No other tax jurisdictions are material to us. The fire also damaged some equipment in our packaging room and a portion of the roof. Item 16 — Form 10-K Summary None. Tier Two Alternative [Member] Tier two alternative. M @(# P,# P,# P,# P,# P,# P,# P,# P,# P,# P,# P,# P,# P,# P,# M P,# P,# __$ :( $% 0$! C/O8Y)?H,4;!L*ZT-8?"=R\\]YG16\\(BA1R&7[3,)0WF$$$#&* . M\\*T\\*_\\ 4S_^%YX[_P#FDH /^%:%?\\ J9__ O/\'?\\ \\TE !_ PK3PK_U,_P#X7GCO_P":2@ _X5IX5_ZF?_PO M/\'?_ , @G3_#2?%/6]-35;;PWX$U#6;Q]MVEA?Z_X(N]3\\)(-76.P ML;6\\NM-D?3=3OEN6"6ENLY25O,("KR3@4 ? There were no significant adjustments recorded in any of the periods presented. & As of June 25, 2020, we believe that our
