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Segments | 9 Months Ended
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Sep. 29, 2019
Segment Reporting [Abstract] |
Segments | 3.Segments The Company evaluates segment reporting in accordance with the FASB Accounting Standards Codification 280, Segment Reporting, each reporting period, including evaluating the reporting package reviewed by the Chief Operating Decision Maker (the “CODM”). The Company has concluded the Chief Executive Officer, the Chief Operating Officer and the Chief Financial Officer, as a group, represent the CODM. Asset information is not provided to the CODM. The Company believes three operating segments exist. Nonalcoholic Beverages represents the vast majority of the Company’s consolidated revenues and income from operations. The additional two 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 Nine Months |
(in thousands) |  | 2019 |  |  | 2018 |  |  | 2019 |  |  | 2018 |
Net sales: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Nonalcoholic Beverages(1) |  | $ | 1,236,261 |  |  | $ | 1,172,584 |  |  | $ | 3,547,373 |  |  | $ | 3,405,288 |
All Other |  |  | 92,501 |  |  |  | 93,493 |  |  |  | 275,358 |  |  |  | 273,490 |
Eliminations(2) |  |  | (57,733 | ) |  |  | (62,044 | ) |  |  | (175,131 | ) |  |  | (189,985 | )
Consolidated net sales |  | $ | 1,271,029 |  |  | $ | 1,204,033 |  |  | $ | 3,647,600 |  |  | $ | 3,488,793 |
Income from operations: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Nonalcoholic Beverages |  | $ | 48,248 |  |  | $ | 39,361 |  |  | $ | 120,613 |  |  | $ | 32,705 |
All Other |  |  | 5,598 |  |  |  | 5,043 |  |  |  | 20,601 |  |  |  | 12,381 |
Consolidated income from operations |  | $ | 53,846 |  |  | $ | 44,404 |  |  | $ | 141,214 |  |  | $ | 45,086 |
Depreciation and amortization: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Nonalcoholic Beverages |  | $ | 43,067 |  |  | $ | 44,050 |  |  | $ | 128,986 |  |  | $ | 133,095 |
All Other |  |  | 2,521 |  |  |  | 2,539 |  |  |  | 7,430 |  |  |  | 7,401 |
Consolidated depreciation and amortization |  | $ | 45,588 |  |  | $ | 46,589 |  |  | $ | 136,416 |  |  | $ | 140,496 |
(1) | The Company historically presented consideration paid to customers under certain contractual arrangements for exclusive distribution rights and sponsorship privileges as a marketing expense within SD&A expenses. The Company has now determined such amounts should be presented as a reduction to net sales and has revised the presentation of previously issued financial statements to correct for this error. Net sales and SD&A expenses were revised by $7.6 million in the third quarter of 2018 and $22.2 million in the first nine months of 2018. See Note 4 to the condensed consolidated financial statements for additional information.
(2) | The entire net sales elimination for each period presented represents net sales from All Other 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.

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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