XML 55 R34.htm IDEA: XBRL DOCUMENT
v3.10.0.1

Segment Reporting | 12 Months Ended
--- | ---
Dec. 29, 2018
Segment Reporting [Abstract] |
Segment Reporting |
Note 25. | Segment Reporting
The company’s DSD Segment primarily produces fresh packaged breads, buns, rolls, tortillas, and snack cakes and the Warehouse Segment produces fresh and frozen bread and rolls and snack cakes. The company purchased Canyon on December 14, 2018. See Note 11, Acquisition, for more detailed disclosures for the acquisition. Canyon assets have been assigned to both segments. Their impact on our total assets are included in the tables below. Their results of operations for the period from December 14, 2018 through December 29, 2018 has been excluded due to immateriality and will be reported in the first quarter of fiscal 2019. 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 segments’ core operating businesses. Information regarding the operations of these segments is as follows for fiscal years 2018, 2017, and 2016 (amounts in thousands):
|  | Fiscal 2018 |  |  | Fiscal 2017 |  |  | Fiscal 2016 |
Sales: |  |  |  |  |  |  |  |  |  |  |  |
DSD Segment |  | $ | 3,423,935 |  |  | $ | 3,383,564 |  |  | $ | 3,347,616 |
Warehouse Segment |  |  | 787,431 |  |  |  | 767,844 |  |  |  | 787,233 |
Eliminations: |  |  |  |  |  |  |  |  |  |  |  |
Sales from Warehouse Segment to DSD Segment |  |  | (175,626 | ) |  |  | (165,674 | ) |  |  | (144,525 | )
Sales from DSD Segment to Warehouse Segment |  |  | (83,888 | ) |  |  | (65,001 | ) |  |  | (63,439 | )
|  | $ | 3,951,852 |  |  | $ | 3,920,733 |  |  | $ | 3,926,885 |
Gain on divestiture: |  |  |  |  |  |  |  |  |  |  |  |
Warehouse Segment |  | $ | — |  |  | $ | 28,875 |  |  | $ | — |
|  | $ | — |  |  | $ | 28,875 |  |  | $ | — |
Multi-employer pension plan withdrawal costs: |  |  |  |  |  |  |  |  |  |  |  |
DSD Segment |  | $ | 2,322 |  |  | $ | 18,268 |  |  | $ | — |
|  | $ | 2,322 |  |  | $ | 18,268 |  |  | $ | — |
Loss on inferior ingredients: |  |  |  |  |  |  |  |  |  |  |  |
DSD Segment |  | $ | 1,655 |  |  | $ | — |  |  | $ | — |
Warehouse Segment |  |  | 1,557 |  |  |  | — |  |  |  | — |
|  | $ | 3,212 |  |  | $ | — |  |  | $ | — |
Restructuring and related impairment charges: |  |  |  |  |  |  |  |  |  |  |  |
DSD Segment |  | $ | 8,121 |  |  | $ | 80,026 |  |  | $ | — |
Warehouse Segment |  |  | 1,394 |  |  |  | 20,122 |  |  |  | — |
Unallocated corporate costs |  |  | 252 |  |  |  | 3,982 |  |  |  | — |
|  | $ | 9,767 |  |  | $ | 104,130 |  |  | $ | — |
Impairment of assets: |  |  |  |  |  |  |  |  |  |  |  |
DSD Segment |  | $ | 2,483 |  |  | $ | — |  |  | $ | 24,877 |
Unallocated corporate costs |  |  | 3,516 |  |  |  | — |  |  |  | — |
|  | $ | 5,999 |  |  | $ | — |  |  | $ | 24,877 |
Depreciation and amortization: |  |  |  |  |  |  |  |  |  |  |  |
DSD Segment |  | $ | 122,300 |  |  | $ | 126,485 |  |  | $ | 120,009 |
Warehouse Segment |  |  | 21,524 |  |  |  | 20,642 |  |  |  | 20,138 |
Unallocated corporate costs(1) |  |  | 300 |  |  |  | (408 | ) |  |  | 722 |
|  | $ | 144,124 |  |  | $ | 146,719 |  |  | $ | 140,869 |
Income from operations: |  |  |  |  |  |  |  |  |  |  |  |
DSD Segment |  | $ | 239,510 |  |  | $ | 202,239 |  |  | $ | 259,982 |
Warehouse Segment |  |  | 37,646 |  |  |  | 54,738 |  |  |  | 58,465 |
Unallocated corporate costs(2) |  |  | (64,812 | ) |  |  | (95,974 | ) |  |  | (53,549 | )
|  | $ | 212,344 |  |  | $ | 161,003 |  |  | $ | 264,898 |
Interest expense |  | $ | 35,686 |  |  | $ | 36,557 |  |  | $ | 34,905 |
Interest income |  | $ | (27,755 | ) |  | $ | (22,938 | ) |  | $ | (20,552 | )
Pension plan settlement loss |  | $ | 7,781 |  |  | $ | 4,649 |  |  | $ | 6,646 |
Other components of net periodic pension and postretirement benefits credit |  | $ | (529 | ) |  | $ | (6,558 | ) |  | $ | (5,638 | )
Income before income taxes |  | $ | 197,161 |  |  | $ | 149,293 |  |  | $ | 249,537 |
Capital expenditures: |  |  |  |  |  |  |  |  |  |  |  |
DSD Segment |  | $ | 82,789 |  |  | $ | 64,317 |  |  | $ | 61,669 |
Warehouse Segment |  |  | 14,929 |  |  |  | 6,933 |  |  |  | 16,792 |
Other(3) |  |  | 1,704 |  |  |  | 3,982 |  |  |  | 23,266 |
|  | $ | 99,422 |  |  | $ | 75,232 |  |  | $ | 101,727 |
|  | December 29, 2018 |  |  | December 30, 2017 |
Assets: |  |  |  |  |  |  |  |
DSD Segment |  | $ | 2,419,019 |  |  | $ | 2,270,179 |
Warehouse Segment |  |  | 353,220 |  |  |  | 296,157 |
Other (3) |  |  | 73,298 |  |  |  | 93,388 |
|  | $ | 2,845,537 |  |  | $ | 2,659,724 |
(1) | Represents costs allocated to the company’s corporate head office.
(2) | Represents costs allocated to the company’s corporate head office and pension settlement loss.
(3) | Represents the company’s corporate head office assets including primarily cash and cash equivalents.

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration