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Business Segment Information | 9 Months Ended
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Mar. 31, 2021
Segment Reporting [Abstract] |
Business Segment Information | Business Segment Information Our financial results are presented as two reportable segments: Retail and Foodservice. Costs that are directly attributable to either Retail or Foodservice are charged directly to the appropriate segment. Costs that are deemed to be indirect, excluding corporate expenses and other unusual significant transactions, are allocated to the two reportable segments using a reasonable methodology that is consistently applied. Our Chief Operating Decision Maker (“CODM”), in order to drive enhanced accountability and transparency throughout our organization, initiated a review of functional costs that have historically been part of the indirect costs allocated to our two reportable segments. This review was completed as part of our preparation for our upcoming enterprise resource planning system implementation. As a result of this review, our CODM identified certain support functions that would be more appropriately presented within corporate expenses to facilitate the management of the business, including assessing segment performance and allocating resources. These changes were effective July 1, 2020. All historical information has been retroactively conformed to the current presentation. These changes had no effect on previously reported consolidated net sales, operating income, net income or earnings per share. Retail - The vast majority of the products we sell in the Retail segment are sold through sales personnel, food brokers and distributors in the United States. We have placement of products in grocery produce departments through our refrigerated salad dressings, vegetable dips and fruit dips. Our flatbread products and sprouted grain bakery products are generally placed in the specialty bakery/deli section of the grocery store. We also have products typically marketed in the shelf-stable section of the grocery store, which include salad dressing, slaw dressing and croutons. Within the frozen food section of the grocery store, we sell yeast rolls, garlic breads and mini stuffed bagels. Foodservice - The vast majority of the products we sell in the Foodservice segment are sold through sales personnel, food brokers and distributors in the United States. Most of the products we sell in the Foodservice segment are custom-formulated and include salad dressings, sandwich and dipping sauces, frozen breads and yeast rolls. The majority of our Foodservice sales are products sold under private label to restaurants. We also manufacture and sell various branded Foodservice products to distributors. Finally, within this segment, we sold other roll products under a transitional co-packing arrangement resulting from the acquisition of Omni Baking Company LLC. This arrangement was terminated effective October 31, 2020. As many of our products are similar between our two segments, our procurement, manufacturing, warehousing and distribution activities are substantially integrated across our operations in order to maximize efficiency and productivity. Consequently, we do not prepare, and our CODM does not review, separate balance sheets for the reportable segments. As such, our external reporting does not include the presentation of identifiable assets by reportable segment. The composition of our identifiable assets at March 31, 2021 is generally consistent with that of June 30, 2020. We evaluate our Retail and Foodservice segments based on net sales and operating income which follow:
| Three Months Ended March 31, |  | Nine Months Ended March 31,
| 2021 |  | 2020 |  | 2021 |  | 2020
Net Sales |  |  |  |  |  |  |
Retail | $ | 198,358 |  |  | $ | 169,414 |  |  | $ | 614,653 |  |  | $ | 521,701 |
Foodservice | 158,891 |  |  | 151,949 |  |  | 466,848 |  |  | 491,833 |
Total | $ | 357,249 |  |  | $ | 321,363 |  |  | $ | 1,081,501 |  |  | $ | 1,013,534 |
Operating Income |  |  |  |  |  |  |
Retail | $ | 41,179 |  |  | $ | 34,150 |  |  | $ | 144,557 |  |  | $ | 116,628 |
Foodservice | 21,088 |  |  | 12,765 |  |  | 66,845 |  |  | 66,660 |
Nonallocated Restructuring and Impairment Charges (1) | — |  |  | — |  |  | — |  |  | (886) |
Corporate Expenses | (24,879) |  |  | (16,925) |  |  | (66,468) |  |  | (46,630) |
Total | $ | 37,388 |  |  | $ | 29,990 |  |  | $ | 144,934 |  |  | $ | 135,772 |
(1)Reflects restructuring and impairment charges related to a plant closure that were not allocated to our two reportable segments due to their unusual nature. The following table sets forth net sales disaggregated by class of similar products for the Retail and Foodservice segments:
| Three Months Ended March 31, |  | Nine Months Ended March 31, |  |
| 2021 |  | 2020 |  | 2021 |  | 2020 |  |  |  |
Retail |  |  |  |  |  |  |  |  |  |  |
Frozen breads | $ | 73,628 |  |  | $ | 68,682 |  |  | $ | 250,157 |  |  | $ | 221,084 |  |  |  |  |
Refrigerated dressings, dips and other | 48,957 |  |  | 49,479 |  |  | 165,204 |  |  | 163,521 |  |  |  |  |
Shelf-stable dressings and croutons | 75,773 |  |  | 51,253 |  |  | 199,292 |  |  | 137,096 |  |  |  |  |
Total Retail net sales | $ | 198,358 |  |  | $ | 169,414 |  |  | $ | 614,653 |  |  | $ | 521,701 |  |  |  |  |
Foodservice |  |  |  |  |  |  |  |  |  |  |
Dressings and sauces | $ | 120,925 |  |  | $ | 106,306 |  |  | $ | 347,101 |  |  | $ | 341,039 |  |  |  |  |
Frozen breads and other | 37,966 |  |  | 40,339 |  |  | 116,040 |  |  | 131,300 |  |  |  |  |
Other roll products | — |  |  | 5,304 |  |  | 3,707 |  |  | 19,494 |  |  |  |  |
Total Foodservice net sales | $ | 158,891 |  |  | $ | 151,949 |  |  | $ | 466,848 |  |  | $ | 491,833 |  |  |  |  |
Total net sales | $ | 357,249 |  |  | $ | 321,363 |  |  | $ | 1,081,501 |  |  | $ | 1,013,534 |  |  |  |  |
The following table provides an additional disaggregation of Foodservice net sales by type of customer:
| Three Months Ended March 31, |  | Nine Months Ended March 31, |  |
| 2021 |  | 2020 |  | 2021 |  | 2020 |  |  |  |
Foodservice |  |  |  |  |  |  |  |  |  |  |
National accounts | $ | 124,323 |  |  | $ | 110,384 |  |  | $ | 359,228 |  |  | $ | 356,192 |  |  |  |  |
Branded and other | 34,568 |  |  | 36,261 |  |  | 103,913 |  |  | 116,147 |  |  |  |  |
Other roll products | — |  |  | 5,304 |  |  | 3,707 |  |  | 19,494 |  |  |  |  |
Total Foodservice net sales | $ | 158,891 |  |  | $ | 151,949 |  |  | $ | 466,848 |  |  | $ | 491,833 |  |  |  |  |

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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 -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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