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Segment Information | 12 Months Ended
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Dec. 30, 2017
Segment Reporting [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 foodservice equipment for the restaurant and institutional kitchen industry. This business segment has manufacturing facilities in Arkansas, California, Illinois, Michigan, New Hampshire, North Carolina, Ohio, Pennsylvania, Tennessee, Texas, Vermont, Washington, Australia, China, Denmark, Estonia, Italy, the Philippines, Poland, Sweden and the United Kingdom. Principal product lines of this group include conveyor ovens, combi-ovens, convection ovens, baking ovens, proofing ovens, deck ovens, speed cooking ovens, hydrovection ovens, ranges, fryers, rethermalizers, steam cooking equipment, food warming equipment, catering equipment, heated cabinets, charbroilers, ventless cooking systems, kitchen ventilation, induction cooking equipment, countertop cooking equipment, toasters, griddles, professional mixers, stainless steel fabrication, custom millwork, professional refrigerators, blast chillers, coldrooms, ice machines, freezers and coffee and beverage dispensing equipment. These products are sold and marketed under the brand names: Anets, Bear Varimixer, Beech, Blodgett, Blodgett Combi, Blodgett Range, Bloomfield, Britannia, CTX, Carter-Hoffmann, Celfrost, Concordia, CookTek, Desmon, Doyon, Eswood, Follett, Frifri, Giga, Globe, Goldstein, Holman, Houno, IMC, Induc, Jade, L2F, Lang, Lincat, MagiKitch’n, Market Forge, Marsal, Middleby Marshall, MPC, Nieco, Nu-Vu, PerfectFry, Pitco, QualServ, Southbend, Star, Sveba Dahlen, 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, Oklahoma, Texas, Virginia, Wisconsin, Denmark, France, Germany, India and the United Kingdom. Principal product lines of this group include batch ovens, baking ovens, proofing ovens, conveyor belt ovens, continuous processing ovens, frying systems and automated thermal processing systems, grinders, slicers, reduction and emulsion systems, mixers, blenders, battering equipment, breading equipment, seeding equipment, water cutting systems, food presses, food suspension equipment, forming equipment, automated loading and unloading systems, food safety, food handling, freezing, defrosting and packaging equipment. These products are sold and marketed under the brand names: Alkar, Armor Inox, Auto-Bake, Baker Thermal Solutions, Burford, Cozzini, CVP Systems, Danfotech, Drake, Emico, Glimek, Maurer-Atmos, MP Equipment, RapidPak, Scanico, 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 are ranges, cookers, stoves, ovens, refrigerators, dishwashers, microwaves, cooktops, refrigerators, wine coolers, ice machines, ventilation equipment and outdoor equipment. These products are sold and marketed under the brand names: AGA, AGA Cookshop, Brigade, 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. Management believes that intersegment sales are made at established arm's length transfer prices. The following table summarizes the results of operations for the company’s business segments(1) (dollars in thousands):
| Commercial Foodservice |  |  | Food Processing |  |  | Residential Kitchen |  |  | Corporate and Other(3) |  |  | Total |
2017 |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales | $ | 1,382,108 |  |  | $ | 352,717 |  |  | $ | 600,717 |  |  | $ | — |  |  | $ | 2,335,542 |
Operating income (4,5,6) | 356,776 |  |  | 88,121 |  |  | 30,972 |  |  | (65,528 | ) |  | 410,341 |
Depreciation and amortization expense | 29,981 |  |  | 7,357 |  |  | 30,551 |  |  | 1,885 |  |  | 69,774 |
Net capital expenditures | 41,457 |  |  | 5,519 |  |  | 7,637 |  |  | (120 | ) |  | 54,493 |
Total assets | 1,693,820 |  |  | 450,932 |  |  | 1,140,668 |  |  | 54,293 |  |  | 3,339,713 |
Long-lived assets (2) | 148,565 |  |  | 25,346 |  |  | 167,486 |  |  | 21,191 |  |  | 362,588 |
2016 |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales | $ | 1,266,955 |  |  | $ | 342,235 |  |  | $ | 658,662 |  |  | $ | — |  |  | $ | 2,267,852 |
Operating income (4) | 350,315 |  |  | 87,039 |  |  | 89,435 |  |  | (80,564 | ) |  | 446,225 |
Depreciation and amortization expense | 19,548 |  |  | 5,696 |  |  | 29,897 |  |  | 3,093 |  |  | 58,234 |
Net capital expenditures | 11,958 |  |  | 5,667 |  |  | 6,961 |  |  | 231 |  |  | 24,817 |
Total assets | 1,347,441 |  |  | 340,088 |  |  | 1,179,640 |  |  | 49,967 |  |  | 2,917,136 |
Long-lived assets (2) | 84,475 |  |  | 21,763 |  |  | 175,206 |  |  | 35,100 |  |  | 316,544 |
2015 |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales | $ | 1,121,046 |  |  | $ | 297,712 |  |  | $ | 407,840 |  |  | $ | — |  |  | $ | 1,826,598 |
Operating income (4) | 296,061 |  |  | 64,650 |  |  | 4,653 |  |  | (62,761 | ) |  | 302,603 |
Depreciation and amortization expense | 17,117 |  |  | 5,839 |  |  | 29,515 |  |  | 1,603 |  |  | 54,074 |
Net capital expenditures | 12,123 |  |  | 2,164 |  |  | 7,935 |  |  | 140 |  |  | 22,362 |
Total assets | 1,115,840 |  |  | 308,677 |  |  | 1,250,503 |  |  | 86,131 |  |  | 2,761,151 |
Long-lived assets (2) | 61,835 |  |  | 20,307 |  |  | 129,751 |  |  | 21,327 |  |  | 233,220 |
(1) | Non-operating expenses are not allocated to the reportable 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) | Long-lived assets consist of property, plant and equipment, long-term deferred tax assets and other assets.
(3) | Includes corporate and other general company assets and operations.
(4) | Restructuring expenses are allocated in operating income by segment. See note 12 for further details.
(5) | Gain on sale of plant allocated to Commercial Foodservice.
(6) | Impairment of intangible assets allocated to Residential Kitchen.
Geographic Information Long-lived assets, not including goodwill and other intangibles (in thousands):
| 2017 |  | 2016 |  | 2015
United States and Canada | $ | 221,479 |  |  | $ | 181,317 |  |  | $ | 149,299 |
Asia | 14,033 |  |  | 14,729 |  |  | 17,336 |
Europe and Middle East | 126,264 |  |  | 119,511 |  |  | 65,581 |
Latin America | 812 |  |  | 987 |  |  | 1,004 |
Total international | 141,109 |  |  | 135,227 |  |  | 83,921 |
| $ | 362,588 |  |  | $ | 316,544 |  |  | $ | 233,220 |
Net sales (in thousands):
| 2017 |  | 2016 |  | 2015
United States and Canada | $ | 1,549,876 |  |  | $ | 1,470,566 |  |  | $ | 1,274,907 |
Asia | 192,638 |  |  | 190,548 |  |  | 165,541 |
Europe and Middle East | 501,247 |  |  | 522,819 |  |  | 319,387 |
Latin America | 91,781 |  |  | 83,919 |  |  | 66,763 |
Total international | 785,666 |  |  | 797,286 |  |  | 551,691 |
| $ | 2,335,542 |  |  | $ | 2,267,852 |  |  | $ | 1,826,598 |

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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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