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Revenue (Notes)
 6 Months Ended
Jul. 03, 2021
Revenue from Contract with Customer [Abstract]  
Revenue Revenue
The Company extends payment terms to its customers based on commercially acceptable practices. The term between invoicing and payment due date is not significant. Revenue is measured as the amount of consideration the Company expects to receive in exchange for transferring finished products or performing services, which is generally based on an executed agreement or purchase order.

Most of the Company's products are shipped based on the customer specifications. Customer returns are infrequent and not material to the Company. Adjustments to net sales for sales deductions are generally recognized in the same period as the sale or when known. Customers in certain industries or countries may be required to prepay prior to shipment in order to maintain payment protection. These represent short-term prepayment from customers and are not material to the Company. The Company elected to treat shipping and handling as fulfilment costs, which will result in billed freight recorded in cost of sales and netted against freight costs. Sales, value-add, and other taxes collected concurrently with revenue-producing activities are excluded from revenue and booked on a net basis.

The following tables present the Company revenues disaggregated by geographic area and major product types by reportable segment for the three and six months ended July 3, 2021 and June 27, 2020 (in thousands):
Three Months Ended July 3, 2021
Feed IngredientsFood IngredientsFuel IngredientsTotal
Geographic Area
North America$660,513 $79,165 $24 $739,702 
Europe104,397 165,654 109,682 379,733 
China3,746 52,092 — 55,838 
South America— 5,590 — 5,590 
Other3,276 14,530 — 17,806 
Net sales$771,932 $317,031 $109,706 $1,198,669 
Major product types
Fats$292,559 $41,111 $— $333,670 
Used cooking oil86,437 — — 86,437 
Proteins258,391 — — 258,391 
Bakery79,202 — — 79,202 
Other rendering45,452 — — 45,452 
Food ingredients— 239,622 — 239,622 
Bioenergy— — 109,682 109,682 
Biofuels— — 24 24 
Other9,891 36,298 — 46,189 
Net sales$771,932 $317,031 $109,706 $1,198,669 


Six Months Ended July 3, 2021
Feed IngredientsFood IngredientsFuel IngredientsTotal
Geographic Area
North America$1,209,528 $140,105 $3,374 $1,353,007 
Europe202,042 321,017 203,539 726,598 
China5,684 110,024 — 115,708 
South America— 16,044 — 16,044 
Other6,122 27,906 — 34,028 
Net sales$1,423,376 $615,096 $206,913 $2,245,385 
Major product types
Fats$521,565 $82,544 $— $604,109 
Used cooking oil137,466 — — 137,466 
Proteins513,898 — — 513,898 
Bakery142,307 — — 142,307 
Other rendering88,409 — — 88,409 
Food ingredients— 469,164 — 469,164 
Bioenergy— — 203,539 203,539 
Biofuels— — 3,374 3,374 
Other19,731 63,388 — 83,119 
Net sales$1,423,376 $615,096 $206,913 $2,245,385 
Three Months Ended June 27, 2020
Feed IngredientsFood IngredientsFuel IngredientsTotal
Geographic Area
North America$419,318 $58,548 $991 $478,857 
Europe78,466 157,326 65,058 300,850 
China3,354 45,043 — 48,397 
South America— 2,080 — 2,080 
Other2,552 15,937 — 18,489 
Net sales$503,690 $278,934 $66,049 $848,673 
Major product types
Fats$167,507 $31,839 $— $199,346 
Used cooking oil39,007 — — 39,007 
Proteins210,141 — — 210,141 
Bakery37,964 — — 37,964 
Other rendering39,464 — — 39,464 
Food ingredients— 223,526 — 223,526 
Bioenergy— — 65,058 65,058 
Biofuels— — 991 991 
Other9,607 23,569 — 33,176 
Net sales$503,690 $278,934 $66,049 $848,673 


Six Months Ended June 27, 2020
Feed IngredientsFood IngredientsFuel IngredientsTotal
Geographic Area
North America$846,781 $104,963 $6,391 $958,135 
Europe158,909 315,913 129,581 604,403 
China5,777 84,999 — 90,776 
South America— 12,666 — 12,666 
Other4,848 30,687 — 35,535 
Net sales$1,016,315 $549,228 $135,972 $1,701,515 
Major product types
Fats$330,791 $65,315 $— $396,106 
Used cooking oil86,615 — — 86,615 
Proteins406,121 — — 406,121 
Bakery85,065 — — 85,065 
Other rendering86,628 — — 86,628 
Food ingredients— 438,319 — 438,319 
Bioenergy— — 129,581 129,581 
Biofuels— — 6,391 6,391 
Other21,095 45,594 — 66,689 
Net sales$1,016,315 $549,228 $135,972 $1,701,515 

Long-Term Performance Obligations. The Company from time to time enters into long-term contracts to supply certain volumes of finished products to certain customers. Revenue recognized to date in 2021 under these long-term supply contracts was approximately $40.7 million, with the remaining performance obligations to be recognized in future periods (generally 2 years) of approximately $140.6 million.