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SEGMENT REPORTING | 9 Months Ended
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Oct. 10, 2015
Segment Reporting [Abstract] |
SEGMENT REPORTING | 16. SEGMENT REPORTING The company’s DSD Segment primarily produces fresh packaged bread, rolls, tortillas, and snack products and the Warehouse Segment produces fresh and frozen bread and rolls and snack products. The company purchased DKB, described in Note 3, Acquisition, above, on September 12, 2015. DKB is included in our DSD Segment. Their results from operations and impact on our total assets are included in the tables below. During the fourth quarter of fiscal 2014, we revised net sales. Historically, certain immaterial discounts had been recorded as an expense to selling, distribution and administrative costs. These discounts are now recorded as contra revenue. All prior period information has been revised to reflect this change. See Note 5, Financial Statement Revisions, for details about the impact of these revisions. The company evaluates each segment’s performance based on income or loss before interest and income taxes, excluding unallocated expenses and charges which the company’s management deems to be an overall corporate cost or a cost not reflective of the segment’s core operating businesses. Information regarding the operations in these reportable segments is as follows (amounts in thousands):
|  | For the Twelve Weeks Ended |  |  | For the Forty Weeks Ended |
|  | October 10, 2015 |  |  | October 4, 2014 |  |  | October 10, 2015 |  |  | October 4, 2014 |
Sales: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
DSD Segment |  | $ | 761,006 |  |  | $ | 727,614 |  |  | $ | 2,513,397 |  |  | $ | 2,472,303 |
Warehouse Segment |  |  | 169,190 |  |  |  | 159,502 |  |  |  | 560,935 |  |  |  | 558,178 |
Eliminations: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sales from Warehouse Segment to DSD Segment |  |  | (30,155 | ) |  |  | (28,416 | ) |  |  | (105,192 | ) |  |  | (99,870 | )
Sales from DSD Segment to Warehouse Segment |  |  | (14,739 | ) |  |  | (13,768 | ) |  |  | (48,998 | ) |  |  | (58,971 | )
|  | $ | 885,302 |  |  | $ | 844,932 |  |  | $ | 2,920,142 |  |  | $ | 2,871,640 |
Depreciation and amortization: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
DSD Segment |  | $ | 25,928 |  |  | $ | 26,015 |  |  | $ | 88,103 |  |  | $ | 87,286 |
Warehouse Segment |  |  | 3,549 |  |  |  | 3,469 |  |  |  | 11,920 |  |  |  | 11,649 |
Unallocated corporate costs (1) |  |  | (58 | ) |  |  | 3 |  |  |  | (319 | ) |  |  | (249 | )
|  | $ | 29,419 |  |  | $ | 29,487 |  |  | $ | 99,704 |  |  | $ | 98,686 |
Income (loss) from operations: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
DSD Segment |  | $ | 73,803 |  |  | $ | 67,740 |  |  | $ | 251,068 |  |  | $ | 226,935 |
Warehouse Segment |  |  | 11,393 |  |  |  | 11,833 |  |  |  | 41,667 |  |  |  | 39,402 |
Unallocated corporate costs (1) |  |  | (15,445 | ) |  |  | (9,192 | ) |  |  | (46,405 | ) |  |  | (32,374 | )
|  | $ | 69,751 |  |  | $ | 70,381 |  |  | $ | 246,330 |  |  | $ | 233,963 |
Interest expense |  | $ | (5,992 | ) |  | $ | (6,285 | ) |  | $ | (20,349 | ) |  | $ | (21,902 | )
Interest income |  | $ | 5,114 |  |  | $ | 4,875 |  |  | $ | 17,029 |  |  | $ | 15,586 |
Income before income taxes |  | $ | 68,873 |  |  | $ | 68,971 |  |  | $ | 243,010 |  |  | $ | 227,647 |
Assets: | October 10, 2015 |  |  | January 3, 2015 |
DSD Segment | $ | 2,431,315 |  |  | $ | 2,094,047 |
Warehouse Segment |  | 206,580 |  |  |  | 201,240 |
Other (2) |  | 114,348 |  |  |  | 113,687 |
Total assets | $ | 2,752,243 |  |  | $ | 2,408,974 |
_________________
(1) | Represents the company’s corporate head office amounts.
(2) Represents the company’s corporate head office assets, including primarily cash and cash equivalents, deferred taxes and deferred financing costs. Sales by product category in each reportable segment are as follows for the twelve and forty weeks ended October 10, 2015 and October 4, 2014 (amounts in thousands):
|  | For the Twelve Weeks Ended |  |  | For the Twelve Weeks Ended |
|  | October 10, 2015 |  |  | October 4, 2014 |
|  | DSD Segment |  |  | Warehouse Segment |  |  | Total |  |  | DSD Segment |  |  | Warehouse Segment |  |  | Total |
Branded Retail |  | $ | 471,353 |  |  | $ | 29,397 |  |  | $ | 500,750 |  |  | $ | 448,205 |  |  | $ | 29,112 |  |  | $ | 477,317 |
Store Branded Retail |  |  | 108,733 |  |  |  | 28,984 |  |  |  | 137,717 |  |  |  | 108,210 |  |  |  | 27,727 |  |  |  | 135,937 |
Non-retail and Other |  |  | 166,181 |  |  |  | 80,654 |  |  |  | 246,835 |  |  |  | 157,431 |  |  |  | 74,247 |  |  |  | 231,678 |
Total |  | $ | 746,267 |  |  | $ | 139,035 |  |  | $ | 885,302 |  |  | $ | 713,846 |  |  | $ | 131,086 |  |  | $ | 844,932 |
|  | For the Forty Weeks Ended |  |  | For the Forty Weeks Ended |
|  | October 10, 2015 |  |  | October 4, 2014 |
|  | DSD Segment |  |  | Warehouse Segment |  |  | Total |  |  | DSD Segment |  |  | Warehouse Segment |  |  | Total |
Branded Retail |  | $ | 1,555,354 |  |  | $ | 100,153 |  |  | $ | 1,655,507 |  |  | $ | 1,510,823 |  |  | $ | 100,047 |  |  | $ | 1,610,870 |
Store Branded Retail |  |  | 358,404 |  |  |  | 95,502 |  |  |  | 453,906 |  |  |  | 376,195 |  |  |  | 97,080 |  |  |  | 473,275 |
Non-retail and Other |  |  | 550,641 |  |  |  | 260,088 |  |  |  | 810,729 |  |  |  | 526,314 |  |  |  | 261,181 |  |  |  | 787,495 |
Total |  | $ | 2,464,399 |  |  | $ | 455,743 |  |  | $ | 2,920,142 |  |  | $ | 2,413,332 |  |  | $ | 458,308 |  |  | $ | 2,871,640 |

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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 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8981-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9038-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8971-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8595-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8984-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9031-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9054-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8538-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8864-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8924-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8906-108599 + Details
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