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Segments | 9 Months Ended
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Oct. 01, 2017
Segment Reporting [Abstract] |
Segments | 23.Segments The Company evaluates segment reporting in accordance with FASB Accounting Standards Codification (“ASC”) 280, Segment Reporting, each reporting period, including evaluating the reporting package reviewed by the Chief Operation Decision Maker (“CODM”). The Company has concluded the Chief Executive Officer, Chief Operating Officer and Chief Financial Officer, as a group, represent the CODM. The Company believes four operating segments exist. Nonalcoholic Beverages represents the vast majority of the Company’s consolidated revenues, operating income, and assets. The remaining three operating segments do not meet the quantitative thresholds for separate reporting, either individually or in the aggregate, and therefore have been combined into “All Other.” The Company’s segment results are as follows:
|  | Third Quarter |  |  | First Three Quarters |
(in thousands) |  | 2017 |  |  | 2016 |  |  | 2017 |  |  | 2016 |
Net sales: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Nonalcoholic Beverages |  | $ | 1,103,017 |  |  | $ | 826,683 |  |  | $ | 3,043,587 |  |  | $ | 2,251,491 |
All Other |  |  | 120,660 |  |  |  | 59,530 |  |  |  | 317,121 |  |  |  | 163,636 |
Eliminations(1) |  |  | (61,151 | ) |  |  | (37,185 | ) |  |  | (163,189 | ) |  |  | (100,259 | )
Consolidated net sales |  | $ | 1,162,526 |  |  | $ | 849,028 |  |  | $ | 3,197,519 |  |  | $ | 2,314,868 |
Income from operations: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Nonalcoholic Beverages |  | $ | 32,525 |  |  | $ | 38,421 |  |  | $ | 86,228 |  |  | $ | 102,267 |
All Other |  |  | 3,605 |  |  |  | 1,380 |  |  |  | 10,823 |  |  |  | 4,671 |
Consolidated income from operations |  | $ | 36,130 |  |  | $ | 39,801 |  |  | $ | 97,051 |  |  | $ | 106,938 |
Depreciation and amortization: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Nonalcoholic Beverages |  | $ | 41,151 |  |  | $ | 29,263 |  |  | $ | 114,166 |  |  | $ | 78,469 |
All Other |  |  | 2,095 |  |  |  | 1,794 |  |  |  | 6,127 |  |  |  | 4,917 |
Consolidated depreciation and amortization |  | $ | 43,246 |  |  | $ | 31,057 |  |  | $ | 120,293 |  |  | $ | 83,386 |
Capital expenditures (exclusive of acquisitions): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Nonalcoholic Beverages |  | $ | 33,675 |  |  | $ | 33,675 |  |  | $ | 99,021 |  |  | $ | 94,501 |
All Other |  |  | 4,969 |  |  |  | 10,989 |  |  |  | 13,952 |  |  |  | 24,868 |
Consolidated capital expenditures (exclusive of acquisitions) |  | $ | 38,644 |  |  | $ | 44,664 |  |  | $ | 112,973 |  |  | $ | 119,369 |
(in thousands) |  | October 1, 2017 |  |  | January 1, 2017 |
Total assets: |  |  |  |  |  |  |  |
Nonalcoholic Beverages |  | $ | 2,797,485 |  |  | $ | 2,349,284 |
All Other |  |  | 118,862 |  |  |  | 105,785 |
Eliminations(1) |  |  | (5,251 | ) |  |  | (5,585 | )
Consolidated total assets |  | $ | 2,911,096 |  |  | $ | 2,449,484 |
| (1) | The entire net sales elimination for each period presented represents net sales from the All Other segment to the Nonalcoholic Beverages segment. Sales between these segments are recognized at either fair market value or cost depending on the nature of the transaction. Asset eliminations relate to eliminations of intercompany receivables and payables between the Nonalcoholic Beverages and All Other segments.
Net sales by product category were as follows:
|  | Third Quarter |  |  | First Three Quarters |
(in thousands) |  | 2017 |  |  | 2016 |  |  | 2017 |  |  | 2016 |
Bottle/can sales(1): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sparkling beverages (carbonated) |  | $ | 582,710 |  |  | $ | 455,748 |  |  | $ | 1,670,093 |  |  | $ | 1,273,277 |
Still beverages (noncarbonated, including energy products) |  |  | 384,495 |  |  |  | 261,508 |  |  |  | 1,009,508 |  |  |  | 674,069 |
Total bottle/can sales |  |  | 967,205 |  |  |  | 717,256 |  |  |  | 2,679,601 |  |  |  | 1,947,346 |
Other sales: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sales to other Coca-Cola bottlers |  |  | 104,619 |  |  |  | 58,683 |  |  |  | 274,317 |  |  |  | 169,938 |
Post-mix and other |  |  | 90,702 |  |  |  | 73,089 |  |  |  | 243,601 |  |  |  | 197,584 |
Total other sales |  |  | 195,321 |  |  |  | 131,772 |  |  |  | 517,918 |  |  |  | 367,522 |
Total net sales |  | $ | 1,162,526 |  |  | $ | 849,028 |  |  | $ | 3,197,519 |  |  | $ | 2,314,868 |
| (1) | During the second quarter of 2016, energy products were moved from the category of sparkling beverages to still beverages, which has been reflected in all periods presented. Total bottle/can sales remain unchanged in prior periods.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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