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Segment Information | 9 Months Ended
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Oct. 01, 2016
Notes To Financial Statements [Abstract] |
Segment Information | Segment Information The company operates in three reportable operating segments defined by management reporting structure and operating activities. The Commercial Foodservice Equipment Group manufactures, sells, and distributes cooking equipment for the restaurant and institutional kitchen industry. This business segment has manufacturing facilities in California, Illinois, Michigan, New Hampshire, North Carolina, Pennsylvania, Tennessee, Texas, Vermont, Washington, Australia, China, Denmark, Italy, the Philippines, Poland and the United Kingdom. Principal product lines of this group include conveyor ovens, ranges, steamers, convection ovens, combi-ovens, broilers and steam cooking equipment, induction cooking systems, baking and proofing ovens, charbroilers, catering equipment, fryers, toasters, hot food servers, food warming equipment, griddles, coffee and beverage dispensing equipment, professional refrigerators, coldrooms, ice machines, freezers and kitchen processing and ventilation equipment. These products are sold and marketed under the brand names: Anets, Beech, Blodgett, Blodgett Combi, Blodgett Range, Bloomfield, Britannia, CTX, Carter-Hoffmann, Celfrost, Concordia, CookTek, Desmon, Doyon, Eswood, Follett, Frifri, Giga, Goldstein, Holman, Houno, IMC, Induc, Jade, Lang, Lincat, MagiKitch’n, Market Forge, Marsal, Middleby Marshall, MPC, Nieco, Nu-Vu, PerfectFry, Pitco, Southbend, Star, Toastmaster, TurboChef, Wells and Wunder-Bar. The Food Processing Equipment Group manufactures preparation, cooking, packaging, food handling and food safety equipment for the food processing industry. This business segment has manufacturing operations in Georgia, Illinois, Iowa, North Carolina, Texas, Virginia, Wisconsin, France, Germany and the United Kingdom. Principal product lines of this group include batch ovens, belt ovens, continuous processing ovens, frying systems, automated thermal processing systems, automated loading and unloading systems, meat presses, breading, battering, mixing, water cutting systems, forming, grinding and slicing equipment, food suspension, reduction and emulsion systems, defrosting equipment, packaging and food safety equipment. These products are sold and marketed under the brand names: Alkar, Armor Inox, Auto-Bake, Baker Thermal Solutions, Cozzini, Danfotech, Drake, Maurer-Atmos, MP Equipment, RapidPak, Spooner Vicars, Stewart Systems and Thurne. The Residential Kitchen Equipment Group manufactures, sells and distributes kitchen equipment for the residential market. This business segment has manufacturing facilities in California, Michigan, Mississippi, Wisconsin, France, Ireland, Romania, and the United Kingdom. Principal product lines of this group include ranges, cookers, ovens, refrigerators, dishwashers, microwaves, cooktops and outdoor equipment. These products are sold and marketed under the brand names of AGA, AGA Cookshop, Brigade, Falcon, Fired Earth, Grange, Heartland, La Cornue, Leisure Sinks, Lynx, Marvel, Mercury, Rangemaster, Rayburn, Redfyre, Sedona, Stanley, TurboChef, U-Line and Viking. The accounting policies of the segments are the same as those described in the summary of significant accounting policies. The chief operating decision maker evaluates individual segment performance based on operating income. Net Sales Summary (dollars in thousands)
| Three Months Ended |  | Nine Months Ended
| Oct 1, 2016 |  | Oct 3, 2015 |  | Oct 1, 2016 |  | Oct 3, 2015
| Sales |  | Percent |  | Sales |  | Percent |  | Sales |  | Percent |  | Sales |  | Percent
Business Segments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial Foodservice | $ | 331,571 |  |  | 57.7 | % |  | $ | 290,885 |  |  | 64.8 | % |  | $ | 931,585 |  |  | 55.8 | % |  | $ | 841,932 |  |  | 65.2 | %
Food Processing | 82,196 |  |  | 14.3 |  |  | 74,178 |  |  | 16.5 |  |  | 244,307 |  |  | 14.6 |  |  | 215,910 |  |  | 16.7 |
Residential Kitchen | 160,457 |  |  | 28.0 |  |  | 83,941 |  |  | 18.7 |  |  | 495,143 |  |  | 29.6 |  |  | 234,049 |  |  | 18.1 |
Total | $ | 574,224 |  |  | 100.0 | % |  | $ | 449,004 |  |  | 100.0 | % |  | $ | 1,671,035 |  |  | 100.0 | % |  | $ | 1,291,891 |  |  | 100.0 | %
The following table summarizes the results of operations for the company's business segments(1) (in thousands):
| Commercial Foodservice |  |  | Food Processing |  |  | Residential Kitchen |  |  | Corporate and Other(2) |  |  | Total |
Three Months Ended October 1, 2016 |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales | $ | 331,571 |  |  | $ | 82,196 |  |  | $ | 160,457 |  |  | $ | — |  |  | $ | 574,224 |
Income (loss) from operations | 90,159 |  |  | 19,360 |  |  | 30,560 |  |  | (18,640 | ) |  | 121,439 |
Depreciation and amortization expense | 5,272 |  |  | 1,419 |  |  | 5,249 |  |  | 1,229 |  |  | 13,169 |
Net capital expenditures | 3,469 |  |  | 618 |  |  | 1,604 |  |  | — |  |  | 5,691 |
Nine Months Ended October 1, 2016 |  |  |  |  |  |  |  |  |
Net sales | $ | 931,585 |  |  | $ | 244,307 |  |  | $ | 495,143 |  |  | $ | — |  |  | $ | 1,671,035 |
Income (loss) from operations | 260,460 |  |  | 56,409 |  |  | 62,775 |  |  | (59,917 | ) |  | 319,727 |
Depreciation and amortization expense | 15,218 |  |  | 4,377 |  |  | 22,191 |  |  | 2,623 |  |  | 44,409 |
Net capital expenditures | 10,975 |  |  | 3,300 |  |  | 4,393 |  |  | 131 |  |  | 18,799 |
Total assets | $ | 1,361,244 |  |  | $ | 333,056 |  |  | $ | 1,163,992 |  |  | $ | 57,176 |  |  | $ | 2,915,468 |
Three Months Ended October 3, 2015 |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales | $ | 290,885 |  |  | $ | 74,178 |  |  | $ | 83,941 |  |  | $ | — |  |  | $ | 449,004 |
Income (loss) from operations | 77,245 |  |  | 14,048 |  |  | 6,404 |  |  | (17,667 | ) |  | 80,030 |
Depreciation and amortization expense | 2,414 |  |  | 24 |  |  | 8,677 |  |  | 708 |  |  | 11,823 |
Net capital expenditures | 2,801 |  |  | (607 | ) |  | 4,231 |  |  | (117 | ) |  | 6,308 |
Nine Months Ended October 3, 2015 |  |  |  |  |  |  |  |  |
Net sales | $ | 841,932 |  |  | $ | 215,910 |  |  | $ | 234,049 |  |  | $ | — |  |  | $ | 1,291,891 |
Income (loss) from operations | 218,587 |  |  | 41,534 |  |  | 20,446 |  |  | (50,597 | ) |  | 229,970 |
Depreciation and amortization expense | 12,707 |  |  | 5,006 |  |  | 15,066 |  |  | 1,204 |  |  | 33,983 |
Net capital expenditures | 10,721 |  |  | 1,530 |  |  | 5,600 |  |  | 141 |  |  | 17,992 |
Total assets | $ | 1,114,479 |  |  | $ | 313,109 |  |  | $ | 1,192,147 |  |  | $ | 91,044 |  |  | $ | 2,710,779 |
(1)Non-operating expenses are not allocated to the operating segments. Non-operating expenses consist of interest expense and deferred financing amortization, foreign exchange gains and losses and other income and expense items outside of income from operations. (2)Includes corporate and other general company assets and operations. Geographic Information Long-lived assets, not including goodwill and other intangibles (in thousands):
| Oct 1, 2016 |  | Oct 3, 2015
United States and Canada | $ | 181,397 |  |  | $ | 149,260 |
Asia | 15,188 |  |  | 16,188 |
Europe and Middle East | 76,498 |  |  | 73,636 |
Latin America | 1,193 |  |  | 1,032 |
Total international | $ | 92,879 |  |  | $ | 90,856 |
| $ | 274,276 |  |  | $ | 240,116 |
Net sales (in thousands):
| Three Months Ended |  | Nine Months Ended
| Oct 1, 2016 |  |  | Oct 3, 2015 |  |  | Oct 1, 2016 |  |  | Oct 3, 2015 |
United States and Canada | $ | 383,634 |  |  | $ | 329,357 |  |  | $ | 1,090,944 |  |  | $ | 953,380 |
Asia | 49,219 |  |  | 34,900 |  |  | 130,809 |  |  | 119,812 |
Europe and Middle East | 119,835 |  |  | 68,734 |  |  | 390,923 |  |  | 168,858 |
Latin America | 21,536 |  |  | 16,013 |  |  | 58,359 |  |  | 49,841 |
Total international | $ | 190,590 |  |  | $ | 119,647 |  |  | $ | 580,091 |  |  | $ | 338,511 |
| $ | 574,224 |  |  | $ | 449,004 |  |  | $ | 1,671,035 |  |  | $ | 1,291,891 |

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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 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8981-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9038-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8971-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8595-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8984-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9031-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9054-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8538-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8864-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8924-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8906-108599 + Details
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