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Business Segments (Tables) | 6 Months Ended
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Jul. 01, 2023
Segment Reporting [Abstract] |
Business Segments | Business Segments (in thousands):
| Feed Ingredients | Food Ingredients | Fuel Ingredients | Corporate | Total
Three Months Ended July 1, 2023 |  |  |  |  |
Net Sales | $ | 1,141,661 |  | $ | 476,093 |  | $ | 139,867 |  | $ | — |  | $ | 1,757,621 |
Cost of sales and operating expenses | 876,413 |  | 371,095 |  | 112,194 |  | — |  | 1,359,702 |
Gross Margin | 265,248 |  | 104,998 |  | 27,673 |  | — |  | 397,919 |
Loss/(gain) on sale of assets | 322 |  | 2 |  | (65) |  | — |  | 259 |
Selling, general and administrative expenses | 77,406 |  | 33,684 |  | 4,971 |  | 20,690 |  | 136,751 |
Restructuring and asset impairment charges | — |  | 896 |  | — |  | — |  | 896 |
Acquisition and integration costs | — |  | — |  | — |  | 1,706 |  | 1,706 |
Change in fair value of contingent consideration | (7,499) |  | — |  | — |  | — |  | (7,499) |
Depreciation and amortization | 82,575 |  | 28,445 |  | 8,567 |  | 2,499 |  | 122,086 |
Equity in net income of Diamond Green Diesel | — |  | — |  | 212,964 |  | — |  | 212,964 |
Segment operating income/(loss) | 112,444 |  | 41,971 |  | 227,164 |  | (24,895) |  | 356,684 |
Equity in net income of other unconsolidated subsidiaries | 1,849 |  | — |  | — |  | — |  | 1,849 |
Segment income/(loss) | 114,293 |  | 41,971 |  | 227,164 |  | (24,895) |  | 358,533 |
Total other expense |  |  |  |  | (62,624) |
Income before income taxes |  |  |  |  | $ | 295,909 |
| Feed Ingredients | Food Ingredients | Fuel Ingredients | Corporate | Total
Three Months Ended July 2, 2022 |  |  |  |  |
Net Sales | $ | 1,170,347 |  | $ | 369,181 |  | $ | 110,660 |  | $ | — |  | $ | 1,650,188 |
Cost of sales and operating expenses | 864,306 |  | 280,964 |  | 86,237 |  | — |  | 1,231,507 |
Gross Margin | 306,041 |  | 88,217 |  | 24,423 |  | — |  | 418,681 |
Gain on sale of assets | (964) |  | (73) |  | (18) |  | — |  | (1,055) |
Selling, general and administrative expenses | 64,863 |  | 22,855 |  | 4,277 |  | 15,781 |  | 107,776 |
Restructuring and impairment charges | 8,557 |  | — |  | — |  | — |  | 8,557 |
Acquisition and integration costs | — |  | — |  | — |  | 5,358 |  | 5,358 |
Depreciation and amortization | 68,938 |  | 14,449 |  | 6,936 |  | 2,790 |  | 93,113 |
Equity in net income of Diamond Green Diesel | — |  | — |  | 73,680 |  | — |  | 73,680 |
Segment operating income/(loss) | 164,647 |  | 50,986 |  | 86,908 |  | (23,929) |  | 278,612 |
Equity in net income of other unconsolidated subsidiaries | 2,272 |  | — |  | — |  | — |  | 2,272 |
Segment income/(loss) | 166,919 |  | 50,986 |  | 86,908 |  | (23,929) |  | 280,884 |
Total other expense |  |  |  |  | (28,722) |
Income before income taxes |  |  |  |  | $ | 252,162 |
| Feed Ingredients | Food Ingredients | Fuel Ingredients | Corporate | Total
Six Months Ended July 1, 2023 |  |  |  |  |
Net Sales | $ | 2,379,155 |  | $ | 872,485 |  | $ | 297,153 |  | $ | — |  | $ | 3,548,793 |
Cost of sales and operating expenses | 1,826,485 |  | 661,210 |  | 238,980 |  | — |  | 2,726,675 |
Gross Margin | 552,670 |  | 211,275 |  | 58,173 |  | — |  | 822,118 |
Gain on sale of assets | (20) |  | (19) |  | (29) |  | — |  | (68) |
Selling, general and administrative expenses | 152,097 |  | 66,806 |  | 11,163 |  | 42,151 |  | 272,217 |
Restructuring and asset impairment charges | 92 |  | 5,328 |  | — |  | — |  | 5,420 |
Acquisition and integration costs | — |  | — |  | — |  | 8,728 |  | 8,728 |
Change in fair value of contingent consideration | (7,499) |  | — |  | — |  | — |  | (7,499) |
Depreciation and amortization | 172,895 |  | 42,918 |  | 16,960 |  | 5,319 |  | 238,092 |
Equity in net income of Diamond Green Diesel | — |  | — |  | 307,301 |  | — |  | 307,301 |
Segment operating income/(loss) | 235,105 |  | 96,242 |  | 337,380 |  | (56,198) |  | 612,529 |
Equity in net income of other unconsolidated subsidiaries | 1,969 |  | — |  | — |  | — |  | 1,969 |
Segment income/(loss) | 237,074 |  | 96,242 |  | 337,380 |  | (56,198) |  | 614,498 |
Total other expense |  |  |  |  | (101,760) |
Income before income taxes |  |  |  |  | $ | 512,738 |
Segment assets at July 1, 2023 | $ | 4,738,648 |  | $ | 2,613,854 |  | $ | 2,573,246 |  | $ | 1,047,491 |  | $ | 10,973,239 |
| Feed Ingredients | Food Ingredients | Fuel Ingredients | Corporate | Total
Six Months Ended July 2, 2022 |  |  |  |  |
Net Sales | $ | 2,049,785 |  | $ | 723,995 |  | $ | 242,742 |  | $ | — |  | $ | 3,016,522 |
Cost of sales and operating expenses | 1,509,829 |  | 551,276 |  | 190,979 |  | — |  | 2,252,084 |
Gross Margin | 539,956 |  | 172,719 |  | 51,763 |  | — |  | 764,438 |
Gain on sale of assets | (1,305) |  | (82) |  | (57) |  | — |  | (1,444) |
Selling, general and administrative expenses | 121,072 |  | 49,699 |  | 8,197 |  | 30,840 |  | 209,808 |
Restructuring and asset impairment charges | 8,557 |  | — |  | — |  | — |  | 8,557 |
Acquisition and integration costs | — |  | — |  | — |  | 9,131 |  | 9,131 |
Depreciation and amortization | 123,288 |  | 29,899 |  | 13,610 |  | 5,562 |  | 172,359 |
Equity in net income of Diamond Green Diesel | — |  | — |  | 145,484 |  | — |  | 145,484 |
Segment operating income/(loss) | 288,344 |  | 93,203 |  | 175,497 |  | (45,533) |  | 511,511 |
Equity in net income of other unconsolidated subsidiaries | 3,632 |  | — |  | — |  | — |  | 3,632 |
Segment income/(loss) | 291,976 |  | 93,203 |  | 175,497 |  | (45,533) |  | 515,143 |
Total other expense |  |  |  |  | (46,167) |
Income before income taxes |  |  |  |  | $ | 468,976 |
Segment assets at December 31, 2022 | $ | 4,866,351 |  | $ | 1,251,473 |  | $ | 2,307,199 |  | $ | 777,347 |  | $ | 9,202,370 |

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