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Segment Information | 12 Months Ended
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Dec. 30, 2023
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. The Food Processing Equipment Group manufactures preparation, cooking, packaging food handling and food safety equipment for the food processing industry. The Residential Kitchen Equipment Group manufactures, sells and distributes kitchen equipment for the residential market. 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(2) |  | Total
2023 |  |  |  |  |  |  |  |  |
Net sales | $ | 2,521,471 |  |  | $ | 720,618 |  |  | $ | 794,516 |  |  | $ | — |  |  | $ | 4,036,605 |
Income (loss) from operations (3) | 616,224 |  |  | 158,469 |  |  | (12,450) |  |  | (127,375) |  |  | 634,868 |
Depreciation expense (4) | 27,323 |  |  | 7,949 |  |  | 13,637 |  |  | 1,507 |  |  | 50,416 |
Amortization expense (5) | 56,728 |  |  | 9,271 |  |  | 9,052 |  |  | 7,137 |  |  | 82,188 |
Net capital expenditures | 39,272 |  |  | 14,999 |  |  | 25,960 |  |  | 4,948 |  |  | 85,179 |
Total assets | 3,751,746 |  |  | 1,009,857 |  |  | 1,941,204 |  |  | 203,885 |  |  | 6,906,692 |
Long-lived assets (6) | 340,375 |  |  | 98,920 |  |  | 227,131 |  |  | 95,021 |  |  | 761,447 |
2022 |  |  |  |  |  |  |  |  |
Net sales | $ | 2,394,762 |  |  | $ | 589,969 |  |  | $ | 1,048,122 |  |  | $ | — |  |  | $ | 4,032,853 |
Income (loss) from operations (3) | 548,536 |  |  | 107,459 |  |  | 127,948 |  |  | (144,339) |  |  | 639,604 |
Depreciation expense (4) | 24,299 |  |  | 6,045 |  |  | 13,596 |  |  | 679 |  |  | 44,619 |
Amortization expense (5) | 54,872 |  |  | 14,034 |  |  | 17,376 |  |  | 7,159 |  |  | 93,441 |
Net capital expenditures | 28,718 |  |  | 13,957 |  |  | 20,604 |  |  | 4,010 |  |  | 67,289 |
Total assets | 3,788,245 |  |  | 983,797 |  |  | 1,972,351 |  |  | 130,473 |  |  | 6,874,866 |
Long-lived assets (6) | 318,457 |  |  | 84,370 |  |  | 151,499 |  |  | 108,478 |  |  | 662,804 |
2021 |  |  |  |  |  |  |  |  |
Net sales | $ | 2,014,372 |  |  | $ | 499,135 |  |  | $ | 737,285 |  |  | $ | — |  |  | $ | 3,250,792 |
Income (loss) from operations (3,7,8) | 421,717 |  |  | 95,818 |  |  | 124,701 |  |  | (12,244) |  |  | 629,992 |
Depreciation expense (4) | 23,742 |  |  | 5,673 |  |  | 12,655 |  |  | 611 |  |  | 42,681 |
Amortization expense (5) | 54,461 |  |  | 9,696 |  |  | 11,628 |  |  | 6,777 |  |  | 82,562 |
Net capital expenditures | 26,022 |  |  | 9,596 |  |  | 9,232 |  |  | 1,701 |  |  | 46,551 |
Total assets | 3,520,821 |  |  | 639,061 |  |  | 2,153,758 |  |  | 69,958 |  |  | 6,383,598 |
Long-lived assets (6) | 291,320 |  |  | 56,207 |  |  | 169,028 |  |  | 41,112 |  |  | 557,667 |
(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)Includes corporate and other general company assets and operations. (3)Restructuring expenses and impairments are included in operating income of the segment to which they pertain. See note 3(f) and 12 for further details. (4)Includes depreciation on right of use assets. (5)Includes amortization of deferred financing costs and Convertible Notes issuance costs. (6)Long-lived assets consist of property, plant and equipment, long-term deferred tax assets and other assets. (7)Termination fee from Welbilt merger is included in Corporate and Other. (8)Gain on sale of plant is included in Commercial Foodservice and Residential Kitchen for 2021. Geographic Information Long-lived assets, not including goodwill and other intangibles (in thousands):
| 2023 |  | 2022 |  | 2021
United States and Canada | $ | 502,479 |  |  | $ | 471,375 |  |  | $ | 379,431 |
Asia | 40,849 |  |  | 35,965 |  |  | 17,818 |
Europe and Middle East | 205,621 |  |  | 142,326 |  |  | 152,384 |
Latin America | 12,498 |  |  | 13,138 |  |  | 8,034 |
Total International | 258,968 |  |  | 191,429 |  |  | 178,236 |
| $ | 761,447 |  |  | $ | 662,804 |  |  | $ | 557,667 |

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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/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
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