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Segments | 12 Months Ended
--- | ---
Dec. 28, 2024
Segment Reporting [Abstract] |
Segments | Note 4. Segments The company has one operating segment, which represents the company's consolidated financial statements, based on the nature of products the company sells, intertwined production and distribution model, the internal management structure and information that is regularly reviewed by the chief executive officer (“CEO”), who is the CODM, for the purpose of assessing performance and allocating resources. Our CODM evaluates operating performance based on net income adjusted for items impacting comparability as detailed below. The CODM uses adjusted net income for the annual budgeting and monthly forecasting process. The CODM considers budget-to-current forecast and prior forecast-to-current forecast variances for adjusted net income on a period basis for evaluating performance and making decisions about allocating capital and other resources. Detailed below are expense (recovery) items impacting comparability for Fiscal 2024, 2023, and 2022 (amounts in thousands):
|  | Fiscal 2024 |  |  | Fiscal 2023 |  |  | Fiscal 2022 |  |  | Footnote
|  | 52 weeks |  |  | 52 weeks |  |  | 52 weeks |  |  | Disclosure
|  | (Amounts in thousands) |  |  |
Business process improvement costs |  | $ | 4,529 |  |  | $ | 21,521 |  |  | $ | 33,169 |  |  | Note 2
Restructuring charges |  |  | 7,403 |  |  |  | 7,099 |  |  |  | — |  |  | Note 6
Restructuring-related implementation costs |  |  | 2,979 |  |  |  | — |  |  |  | — |  |  | Note 6
Plant closure costs and impairment of assets |  |  | 10,310 |  |  |  | 7,298 |  |  |  | 7,825 |  |  | Note 2
Acquisition-related costs |  |  | 2,008 |  |  |  | 3,712 |  |  |  | 12,518 |  |  | Note 2, 7, 25
Legal settlements and related costs |  |  | 3,800 |  |  |  | 137,529 |  |  |  | 7,500 |  |  | Note 24
Pension plan settlement loss |  |  | 241 |  |  |  | — |  |  |  | — |  |  | Note 22
Gain on sale, severance costs, and lease termination gain |  |  | — |  |  |  | — |  |  |  | (4,390 | ) |  | Note 2
FASTER Act, net of recovery on inferior ingredients |  |  | — |  |  |  | — |  |  |  | 236 |  |  | Note 5
|  | $ | 31,270 |  |  | $ | 177,159 |  |  | $ | 56,858 |  |  |
Our single segment net sales, net income, and significant expenses are as follows for Fiscal 2024, 2023, and 2022 (amounts in thousands):
|  | Fiscal 2024 |  |  | Fiscal 2023 |  |  | Fiscal 2022 |
|  | 52 weeks |  |  | 52 weeks |  |  | 52 weeks |
|  | (Amounts in thousands, except per share data) |
Net sales |  | $ | 5,103,487 |  |  | $ | 5,090,830 |  |  | $ | 4,805,822 |
Materials, supplies, labor and other production costs (exclusive of depreciation and amortization) |  |  |  |  |  |  |  |  |
Ingredients |  |  | 1,313,585 |  |  |  | 1,430,136 |  |  |  | 1,327,192 |
Workforce-related costs |  |  | 747,612 |  |  |  | 702,036 |  |  |  | 661,651 |
Packaging |  |  | 188,481 |  |  |  | 197,748 |  |  |  | 201,878 |
Other(1) |  |  | 327,542 |  |  |  | 302,216 |  |  |  | 311,274 |
Total materials, supplies, labor and other production costs (exclusive of depreciation and amortization) |  |  | 2,577,220 |  |  |  | 2,632,136 |  |  |  | 2,501,995 |
Selling, distribution, and administrative expenses |  |  |  |  |  |  |  |  |
Workforce-related costs |  |  | 616,013 |  |  |  | 562,982 |  |  |  | 520,821 |
Distributor distribution fees |  |  | 678,385 |  |  |  | 715,561 |  |  |  | 700,702 |
Other(2) |  |  | 706,654 |  |  |  | 841,175 |  |  |  | 629,071 |
Total selling, distribution, and administrative expenses |  |  | 2,001,052 |  |  |  | 2,119,718 |  |  |  | 1,850,594 |
Depreciation |  |  | 127,577 |  |  |  | 117,788 |  |  |  | 108,500 |
Amortization |  |  | 31,373 |  |  |  | 32,218 |  |  |  | 31,752 |
Right-of-use financing lease amortization |  |  | 260 |  |  |  | 1,703 |  |  |  | 1,705 |
Plant closure costs and impairment of assets |  |  | 10,310 |  |  |  | 7,298 |  |  |  | 7,825 |
Restructuring charges |  |  | 7,403 |  |  |  | 7,099 |  |  |  | — |
FASTER Act, net of recovery on inferior ingredients |  |  | — |  |  |  | — |  |  |  | 236 |
Interest expense |  |  | 37,129 |  |  |  | 36,609 |  |  |  | 28,921 |
Interest income |  |  | (17,506 | ) |  |  | (20,577 | ) |  |  | (23,644 | )
Other components of net periodic pension and postretirement benefits credit |  |  | (273 | ) |  |  | (269 | ) |  |  | (773 | )
Income before income taxes |  |  | 328,942 |  |  |  | 157,107 |  |  |  | 298,711 |
Income tax expense |  |  | 80,826 |  |  |  | 33,691 |  |  |  | 70,317 |
Net income |  | $ | 248,116 |  |  | $ | 123,416 |  |  | $ | 228,394 |
(1) The Other line item includes utilities, repairs and maintenance, rent, and other production costs. (2) The Other line item includes transportation, marketing, legal, consulting, rent, computer maintenance, and other overhead expenses.

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- Definition The entire disclosure for reporting segments including data and tables. 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