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Acquisitions and Divestitures (Tables) | 12 Months Ended
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Jan. 01, 2017
Schedule of Unaudited Pro Forma Information | The following table represents the unaudited pro forma net sales for the Company for the 2016 Expansion Transactions and the 2015 Expansion Territories.
|  | Fiscal Year |
(in thousands) |  | 2016 |  |  | 2015 |
Net sales as reported |  | $ | 3,156,428 |  |  | $ | 2,306,458 |
Pro forma adjustments (unaudited) |  |  | 441,642 |  |  |  | 1,026,245 |
Net sales pro forma (unaudited) |  | $ | 3,598,070 |  |  | $ | 3,332,703 |
The following table represents the unaudited pro forma income from operations for the Company for the 2016 Expansion Transactions. The income from operations for the 2015 Expansion Territories are not presented as these are considered impracticable for disclosure.
|  | Fiscal Year |
(in thousands) |  | 2016 |  |  | 2015 |
Income from operations as reported |  | $ | 127,859 |  |  | $ | 98,144 |
Pro forma adjustments (unaudited) |  |  | 27,263 |  |  |  | 39,178 |
Income from operations pro forma (unaudited) |  | $ | 155,122 |  |  | $ | 137,322 |
BYB Brands Inc [Member] |
Schedule of Consolidated Statement of Operations | BYB contributed the following amounts to the Company’s consolidated statement of operations:
|  | Fiscal Year |
(in thousands) |  | 2015 |  |  | 2014 |
Net sales |  | $ | 23,875 |  |  | $ | 34,089 |
Operating income (loss) |  |  | 1,809 |  |  |  | (357 | )
2015 Acquisition [Member] |
Summary of Fair Values of Acquired Assets and Assumed Liabilities as of Acquisition Date | The fair value of acquired assets and assumed liabilities, which for the May 2015 Expansion Territory remains subject to adjustment in accordance with the terms and conditions of the February 2015 APA, of the 2015 Expansion Territories and the Annapolis MRC as of the acquisition dates is summarized as follows:
(in thousands) |  | January 2015 Expansion Territory |  |  | February 2015 Expansion Territory |  |  | May 2015 Expansion Territory |  |  | October 2015 Expansion Territory |  |  | Annapolis MRC |  |  | Total 2015 Expansion Territories |
Cash |  | $ | 59 |  |  | $ | 105 |  |  | $ | 45 |  |  | $ | 160 |  |  | $ | - |  |  | $ | 369 |
Inventories |  |  | 1,238 |  |  |  | 1,268 |  |  |  | 1,045 |  |  |  | 2,563 |  |  |  | 109 |  |  |  | 6,223 |
Prepaid expenses and other current assets |  |  | 714 |  |  |  | 1,108 |  |  |  | 224 |  |  |  | 1,306 |  |  |  | - |  |  |  | 3,352 |
Accounts receivable from The Coca-Cola Company |  |  | 322 |  |  |  | 740 |  |  |  | 294 |  |  |  | 824 |  |  |  | - |  |  |  | 2,180 |
Property, plant and equipment |  |  | 6,291 |  |  |  | 15,656 |  |  |  | 6,210 |  |  |  | 24,832 |  |  |  | 8,492 |  |  |  | 61,481 |
Other assets (including deferred taxes) |  |  | 336 |  |  |  | 1,352 |  |  |  | 494 |  |  |  | 4,392 |  |  |  | - |  |  |  | 6,574 |
Goodwill |  |  | 1,388 |  |  |  | 1,520 |  |  |  | 1,027 |  |  |  | 6,723 |  |  |  | - |  |  |  | 10,658 |
Other identifiable intangible assets |  |  | 12,950 |  |  |  | 20,350 |  |  |  | 1,700 |  |  |  | 49,100 |  |  |  | - |  |  |  | 84,100 |
Total acquired assets |  | $ | 23,298 |  |  | $ | 42,099 |  |  | $ | 11,039 |  |  | $ | 89,900 |  |  | $ | 8,601 |  |  | $ | 174,937 |
Current liabilities (acquisition related contingent consideration) |  | $ | 843 |  |  | $ | 1,659 |  |  | $ | 281 |  |  | $ | 547 |  |  | $ | - |  |  | $ | 3,330 |
Other current liabilities |  |  | 125 |  |  |  | 974 |  |  |  | 494 |  |  |  | 4,222 |  |  |  | - |  |  |  | 5,815 |
Other liabilities |  |  | - |  |  |  | 823 |  |  |  | 10 |  |  |  | - |  |  |  | 1,265 |  |  |  | 2,098 |
Other liabilities (acquisition related contingent consideration) |  |  | 9,131 |  |  |  | 20,625 |  |  |  | 2,748 |  |  |  | 58,925 |  |  |  | - |  |  |  | 91,429 |
Total assumed liabilities |  | $ | 10,099 |  |  | $ | 24,081 |  |  | $ | 3,533 |  |  | $ | 63,694 |  |  | $ | 1,265 |  |  | $ | 102,672 |
Summary of Fair Value Acquired Identifiable Intangible Assets | The fair value of the acquired identifiable intangible assets of the 2015 Expansion Territories as of the acquisition dates is as follows:
(in thousands) |  | January 2015 Expansion Territory |  |  | February 2015 Expansion Territory |  |  | May 2015 Expansion Territory |  |  | October 2015 Expansion Territory |  |  | Total 2015 Expansion Territories |  |  | Estimated Useful Lives
Distribution agreements |  | $ | 12,400 |  |  | $ | 19,200 |  |  | $ | 1,500 |  |  | $ | 47,900 |  |  | $ | 81,000 |  |  | 40 years
Customer lists |  |  | 550 |  |  |  | 1,150 |  |  |  | 200 |  |  |  | 1,200 |  |  |  | 3,100 |  |  | 12 years
Total acquired identifiable intangible assets |  | $ | 12,950 |  |  | $ | 20,350 |  |  | $ | 1,700 |  |  | $ | 49,100 |  |  | $ | 84,100 |  |  |
Lexington Exchange Transaction [Member] |
Summary of Fair Values of Acquired Assets and Assumed Liabilities as of Acquisition Date | The fair value of acquired assets and assumed liabilities related to the Lexington Expansion Territory as of the exchange date are summarized as follows:
|  | Lexington |
|  | Expansion |
(in thousands) |  | Territory |
Cash |  | $ | 56 |
Inventories |  |  | 2,231 |
Prepaid expenses and other current assets |  |  | 345 |
Accounts receivable from The Coca-Cola Company |  |  | 362 |
Property, plant and equipment |  |  | 12,216 |
Other assets |  |  | 48 |
Franchise rights |  |  | 23,700 |
Goodwill |  |  | 1,856 |
Other identifiable intangible assets |  |  | 1,100 |
Total acquired assets |  | $ | 41,914 |
Current liabilities |  | $ | 926 |
Summary of Fair Value Acquired Identifiable Intangible Assets | The fair value of the acquired identifiable intangible assets is as follows:
|  | Lexington |  |  |
|  | Expansion |  |  | Estimated
(in thousands) |  | Territory |  |  | Useful Lives
Franchise rights |  | $ | 23,700 |  |  | Indefinite
Distribution agreements |  |  | 300 |  |  | 40 years
Customer lists |  |  | 800 |  |  | 12 years
Total acquired identifiable intangible assets |  | $ | 24,800 |  |  |
2016 Acquisition [Member] |
Summary of Fair Values of Acquired Assets and Assumed Liabilities as of Acquisition Date | The fair value of acquired assets and assumed liabilities of the 2016 Expansion Transactions as of the acquisition dates is summarized as follows:
(in thousands) |  | January 2016 Expansion Transactions |  |  | April 1, 2016 Expansion Transaction |  |  | April 29, 2016 Expansion Transactions |  |  | October 2016 Expansion Transactions |  |  | Total 2016 Expansion Transactions |
Cash |  | $ | 179 |  |  | $ | 219 |  |  | $ | 161 |  |  | $ | 150 |  |  | $ | 709 |
Inventories |  |  | 10,159 |  |  |  | 3,748 |  |  |  | 13,850 |  |  |  | 18,513 |  |  |  | 46,270 |
Prepaid expenses and other current assets |  |  | 2,775 |  |  |  | 1,945 |  |  |  | 3,774 |  |  |  | 4,181 |  |  |  | 12,675 |
Accounts receivable from The Coca-Cola Company |  |  | 1,135 |  |  |  | 1,176 |  |  |  | 1,140 |  |  |  | 1,253 |  |  |  | 4,704 |
Property, plant and equipment |  |  | 46,149 |  |  |  | 54,135 |  |  |  | 58,679 |  |  |  | 68,130 |  |  |  | 227,093 |
Other assets (including deferred taxes) |  |  | 2,351 |  |  |  | 1,536 |  |  |  | 5,146 |  |  |  | 666 |  |  |  | 9,699 |
Goodwill |  |  | 9,388 |  |  |  | 1,956 |  |  |  | 7,795 |  |  |  | 7,133 |  |  |  | 26,272 |
Other identifiable intangible assets |  |  | 1,300 |  |  |  | - |  |  |  | 23,450 |  |  |  | 66,500 |  |  |  | 91,250 |
Total acquired assets |  | $ | 73,436 |  |  | $ | 64,715 |  |  | $ | 113,995 |  |  | $ | 166,526 |  |  | $ | 418,672 |
Current liabilities (acquisition related contingent consideration) |  | $ | 361 |  |  | $ | 742 |  |  | $ | 1,307 |  |  | $ | 3,318 |  |  | $ | 5,728 |
Other current liabilities |  |  | 591 |  |  |  | 4,231 |  |  |  | 5,482 |  |  |  | 7,165 |  |  |  | 17,469 |
Accounts payable to The Coca-Cola Company |  |  | 650 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 650 |
Other liabilities |  |  | - |  |  |  | 266 |  |  |  | 2,635 |  |  |  | 761 |  |  |  | 3,662 |
Other liabilities (acquisition related contingent consideration) |  |  | 6,144 |  |  |  | 23,924 |  |  |  | 35,561 |  |  |  | 57,066 |  |  |  | 122,695 |
Total assumed liabilities |  | $ | 7,746 |  |  | $ | 29,163 |  |  | $ | 44,985 |  |  | $ | 68,310 |  |  | $ | 150,204 |
Summary of Fair Value Acquired Identifiable Intangible Assets | The fair value of the acquired identifiable intangible assets as of the acquisition dates is as follows:
(in thousands) |  | January 2016 Expansion Transactions |  |  | April 29, 2016 Expansion Transactions |  |  | October 2016 Expansion Transactions |  |  | Total 2016 Expansion Transactions |  |  | Estimated Useful Lives
Distribution agreements |  | $ | 750 |  |  | $ | 22,000 |  |  | $ | 63,900 |  |  | $ | 86,650 |  |  | 40 years
Customer lists |  |  | 550 |  |  |  | 1,450 |  |  |  | 2,600 |  |  |  | 4,600 |  |  | 12 years
Total acquired identifiable intangible assets |  | $ | 1,300 |  |  | $ | 23,450 |  |  | $ | 66,500 |  |  | $ | 91,250 |  |  |
2014 and 2015 and 2016 Acquisitions, 2015 Asset Exchange [Member] |
Schedule of Consolidated Statement of Operations | The financial results of the 2016 Expansion Transactions, the 2015 Expansion Territories, the 2015 Asset Exchange and the 2014 Expansion Territories have been included in the Company’s consolidated financial statements from their respective acquisition or exchange dates. These territories contributed the following amounts to the Company’s consolidated statement of operations:
|  | Fiscal Year |
(in thousands) |  | 2016 |  |  | 2015 |  |  | 2014 |
Net sales from 2014 Expansion Territories |  | $ | 161,482 |  |  | $ | 158,393 |  |  | $ | 45,120 |
Net sales from 2015 Expansion Territories & 2015 Asset Exchange |  |  | 469,440 |  |  |  | 278,691 |  |  |  | - |
Net sales from 2016 Expansion Transactions |  |  | 592,329 |  |  |  | - |  |  |  | - |
Total expansion transactions impact to net sales |  | $ | 1,223,251 |  |  | $ | 437,084 |  |  | $ | 45,120 |
Operating income from 2014 Expansion Territories |  | $ | 4,933 |  |  | $ | 3,553 |  |  | $ | 3,417 |
Operating income from 2015 Expansion Territories & 2015 Asset Exchange |  |  | 1,907 |  |  |  | 3,364 |  |  |  | - |
Operating income from 2016 Expansion Transactions |  |  | 22,373 |  |  |  | - |  |  |  | - |
Total expansion transactions impact to operating income |  | $ | 29,213 |  |  | $ | 6,917 |  |  | $ | 3,417 |
The Company incurred $6.1 million, $5.8 million and $5.3 million in transaction related expenses for the Expansion Transactions in 2016, 2015 and 2014, respectively. These expenses are included within Selling, delivery and administrative expenses on the Consolidated Statements of Operations.

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