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Segmented Information | 9 Months Ended
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Sep. 26, 2020
Segment Reporting [Abstract] |
Segmented Information [Text Block] | 14. Segmented Information Effective the fourth quarter of 2019, the Company implemented changes to its organization and leadership structure to align with the operational and strategic objectives established by the Company's CEO. As a result, the Company established two new segments - a Plant-Based Foods and Beverages segment and a Fruit-Based Foods and Beverages segment - based on the synergistic nature of the underlying principal product ingredients. In addition, the Company realigned the Global Ingredients segment to combine its international organic ingredients operations and its co-manufactured premium juice program, based on shared raw material sourcing. Each segment has dedicated management, sales, marketing, plant operations, product development and business support teams, with full accountability to the CEO. With these changes, the composition of the Company's three operating segments is as follows: Global Ingredients includes the sourcing and sale of organic and non-GMO ingredients, including fruits, vegetables, oils, fats, coffee, nuts, dried fruits, sugars, liquid sweeteners, seeds, grains, rice and pulses, and the processing of value-added ingredients including cocoa liquor, butter and powder, sunflower kernel, oil and cakes, sesame seeds, and avocado oil. In addition, it includes third-party co-manufacturing arrangements to produce consumer-packaged premium juice products (including private label orange juices, lemonades, and functional waters), utilizing internally-sourced raw materials. It also included the operations of the soy and corn business that was sold in 2019. Plant-Based Foods and Beverages includes plant-based beverages and liquid and dry ingredients (utilizing almond, soy, coconut, oat, hemp, and other bases), as well as broths, teas and nutritional beverages. In addition, it includes packaged dry- and oil-roasted inshell sunflower and sunflower kernels, as well as corn-, soy- and legume-based roasted snacks, and the processing and sale of raw sunflower inshell and kernel for food and feed applications. Fruit-Based Foods and Beverages includes individually quick frozen ("IQF") fruit for retail (including strawberries, blueberries, mango, pineapple, blends, and other berries), IQF and bulk frozen fruit for foodservice (including purées, fruit cups and smoothies), and custom fruit preparations for industrial use. In addition, it includes fruit snacks, including bars, twists, ropes and bite-sized varieties. Corporate Services provides a variety of management, financial, information technology, treasury and administration services to each of the Company's operating segments. When reviewing the operating results of the Company's operating segments, management uses segment revenues from external customers and segment operating income/loss to assess performance and allocate resources. Segment operating income/loss excludes other income/expense items. In addition, interest expense and income taxes are not allocated to the operating segments. Segment Revenues and Operating Income Reportable segment operating results for the quarters and three quarters ended September 26, 2020 and September 28, 2019 were as follows:
|  | Quarter ended |
|  | September 26, 2020 |
|  |  |  |  | Plant-Based |  |  | Fruit-Based |  |  |  |
|  | Global |  |  | Foods and |  |  | Foods and |  |  |  |
|  | Ingredients |  |  | Beverages |  |  | Beverages |  |  | Consolidated |
|  | $ |  |  | $ |  |  | $ |  |  | $ |
Segment revenues from external customers |  | 123,322 |  |  | 99,038 |  |  | 92,621 |  |  | 314,981 |
Segment operating income (loss) |  | 5,851 |  |  | 13,119 |  |  | (1,788 | ) |  | 17,182 |
Corporate Services |  |  |  |  |  |  |  |  |  |  | (7,803 | )
Other expense, net (see note 10) |  |  |  |  |  |  |  |  |  |  | (1,030 | )
Interest expense, net |  |  |  |  |  |  |  |  |  |  | (8,017 | )
Earnings before income taxes |  |  |  |  |  |  |  |  |  |  | 332 |
|  | Quarter ended |
|  | September 28, 2019 |
|  |  |  |  | Plant-Based |  |  | Fruit-Based |  |  |  |
|  | Global |  |  | Foods and |  |  | Foods and |  |  |  |
|  | Ingredients |  |  | Beverages |  |  | Beverages |  |  | Consolidated |
|  | $ |  |  | $ |  |  | $ |  |  | $ |
Segment revenues from external customers |  | 113,356 |  |  | 91,811 |  |  | 90,774 |  |  | 295,941 |
Segment operating income (loss) |  | 3,400 |  |  | 8,707 |  |  | (10,639 | ) |  | 1,468 |
Corporate Services |  |  |  |  |  |  |  |  |  |  | (4,995 | )
Other expense, net (see note 10) |  |  |  |  |  |  |  |  |  |  | (3,323 | )
Interest expense, net |  |  |  |  |  |  |  |  |  |  | (8,864 | )
Loss before income taxes |  |  |  |  |  |  |  |  |  |  | (15,714 | )
|  | Three quarters ended |
|  | September 26, 2020 |
|  |  |  |  | Plant-Based |  |  | Fruit-Based |  |  |  |
|  | Global |  |  | Foods and |  |  | Foods and |  |  |  |
|  | Ingredients |  |  | Beverages |  |  | Beverages |  |  | Consolidated |
|  | $ |  |  | $ |  |  | $ |  |  | $ |
Segment revenues from external customers |  | 378,217 |  |  | 296,985 |  |  | 286,672 |  |  | 961,874 |
Segment operating income (loss) |  | 22,003 |  |  | 37,456 |  |  | (8,506 | ) |  | 50,953 |
Corporate Services |  |  |  |  |  |  |  |  |  |  | (21,283 | )
Other income, net (see note 10) |  |  |  |  |  |  |  |  |  |  | 601 |
Interest expense, net |  |  |  |  |  |  |  |  |  |  | (24,233 | )
Earnings before income taxes |  |  |  |  |  |  |  |  |  |  | 6,038 |
|  | Three quarters ended |
|  | September 28, 2019 |
|  |  |  |  | Plant-Based |  |  | Fruit-Based |  |  |  |
|  | Global |  |  | Foods and |  |  | Foods and |  |  |  |
|  | Ingredients |  |  | Beverages |  |  | Beverages |  |  | Consolidated |
|  | $ |  |  | $ |  |  | $ |  |  | $ |
Segment revenues from external customers |  | 369,090 |  |  | 255,027 |  |  | 270,103 |  |  | 894,220 |
Segment operating income (loss) |  | 13,610 |  |  | 15,731 |  |  | (22,204 | ) |  | 7,137 |
Corporate Services |  |  |  |  |  |  |  |  |  |  | (12,881 | )
Other income, net (see note 10) |  |  |  |  |  |  |  |  |  |  | 39,744 |
Interest expense, net |  |  |  |  |  |  |  |  |  |  | (25,857 | )
Earnings before income taxes |  |  |  |  |  |  |  |  |  |  | 8,143 |
Segment Depreciation and Amortization Depreciation and amortization by reportable segment for the quarters and three quarters ended September 26, 2020 and September 28, 2019 was as follows:
|  | Quarter ended |  |  | Three quarters ended |
|  | September 26, 2020 |  |  | September 28, 2019 |  |  | September 26, 2020 |  |  | September 28, 2019 |
|  | $ |  |  | $ |  |  | $ |  |  | $ |
Global Ingredients |  | 1,156 |  |  | 1,339 |  |  | 3,449 |  |  | 4,145 |
Plant-Based Foods and Beverages |  | 2,371 |  |  | 1,928 |  |  | 7,119 |  |  | 4,931 |
Fruit-Based Foods and Beverages |  | 4,047 |  |  | 4,080 |  |  | 12,293 |  |  | 12,474 |
Total segment depreciation and amortization |  | 7,574 |  |  | 7,347 |  |  | 22,861 |  |  | 21,550 |
Corporate Services |  | 1,095 |  |  | 1,170 |  |  | 3,481 |  |  | 3,455 |
Total depreciation and amortization |  | 8,669 |  |  | 8,517 |  |  | 26,342 |  |  | 25,005 |

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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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