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BUSINESS SEGMENTS | 3 Months Ended
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Oct. 31, 2015
Segment Reporting [Abstract] |
BUSINESS SEGMENTS | BUSINESS SEGMENTS The Company has several operating divisions aggregated under the wholesale segment, which is the Company’s only reportable segment. These operating divisions have similar products and services, customer channels, distribution methods and historical margins. The wholesale segment is engaged in the national distribution of natural, organic and specialty foods, produce and related products in the United States and Canada. The Company has additional operating divisions that do not meet the quantitative thresholds for reportable segments and are therefore aggregated under the caption of “Other.” “Other” includes a retail division, which engages in the sale of natural foods and related products to the general public through retail storefronts on the east coast of the United States, a manufacturing division, which engages in importing, roasting, packaging, and distributing of nuts, dried fruit, seeds, trail mixes, granola, natural and organic snack items and confections, and the Company’s branded product lines. “Other” also includes certain corporate operating expenses that are not allocated to operating divisions and are necessary to operate the Company’s headquarters located in Providence, Rhode Island, which include depreciation, salaries, retainers, and other related expenses of officers, directors, corporate finance (including professional services), information technology, governance, legal, human resources and internal audit. As the Company continues to expand its business and serve its customers through a new national platform, these corporate expense amounts have increased, which is the primary driver behind the increasing operating losses within the “Other” category below. Non-operating expenses that are not allocated to the operating divisions are under the caption of “Unallocated Expenses.” The Company does not record its revenues for financial reporting purposes by product group, and it is therefore impracticable for the Company to report them accordingly. The following table reflects business segment information for the periods indicated (in thousands):
|  | Wholesale |  | Other |  | Eliminations |  | Unallocated |  | Consolidated
Three months ended October 31, 2015: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales |  | $ | 2,059,622 |  |  | $ | 57,807 |  |  | $ | (40,780 | ) |  | $ | — |  |  | $ | 2,076,649 |
Restructuring and asset impairment expenses |  | 2,809 |  |  | — |  |  | — |  |  | — |  |  | 2,809 |
Operating income (loss) |  | 62,065 |  |  | (6,672 | ) |  | (1,489 | ) |  | — |  |  | 53,904 |
Interest expense |  | — |  |  | — |  |  | — |  |  | 3,748 |  |  | 3,748 |
Interest income |  | — |  |  | — |  |  | — |  |  | (152 | ) |  | (152 | )
Other, net |  | — |  |  | — |  |  | — |  |  | 173 |  |  | 173 |
Income before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  | 50,135 |
Depreciation and amortization |  | 16,083 |  |  | 621 |  |  | — |  |  | — |  |  | 16,704 |
Capital expenditures |  | 7,122 |  |  | 466 |  |  | — |  |  | — |  |  | 7,588 |
Goodwill |  | 248,929 |  |  | 17,731 |  |  | — |  |  | — |  |  | 266,660 |
Total assets |  | 2,485,086 |  |  | 189,442 |  |  | (24,343 | ) |  | — |  |  | 2,650,185 |
Three months ended November 1, 2014: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales |  | $ | 1,970,719 |  |  | $ | 59,570 |  |  | $ | (37,813 | ) |  | $ | — |  |  | $ | 1,992,476 |
Restructuring and asset impairment expenses |  | 555 |  |  | — |  |  | — |  |  | — |  |  | $ | 555 |
Operating income (loss) |  | 66,709 |  |  | (7,599 | ) |  | (717 | ) |  | — |  |  | 58,393 |
Interest expense |  | — |  |  | — |  |  | — |  |  | 3,255 |  |  | 3,255 |
Interest income |  | — |  |  | — |  |  | — |  |  | (93 | ) |  | (93 | )
Other, net |  | — |  |  | — |  |  | — |  |  | 616 |  |  | 616 |
Income before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  | 54,615 |
Depreciation and amortization |  | 12,409 |  |  | 1,749 |  |  | — |  |  | — |  |  | 14,158 |
Capital expenditures |  | 26,937 |  |  | 435 |  |  | — |  |  | — |  |  | 27,372 |
Goodwill |  | 256,185 |  |  | 17,731 |  |  | — |  |  | — |  |  | 273,916 |
Total assets |  | 2,351,321 |  |  | 176,624 |  |  | (17,879 | ) |  | — |  |  | 2,510,066 |

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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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