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Segment Information
 6 Months Ended
Jul. 01, 2023
Segment Reporting [Abstract]  
Segment Information [Text Block]

13. Segment Information

The composition of the Company's operating and reportable segments is as follows:

  • Plant-Based Foods and Beverages includes plant-based beverages and liquid and powder ingredients, utilizing oat, almond, soy, coconut, rice, hemp, and other bases, as well as broths, teas, and nutritional beverages. In addition, the sunflower business, which packaged dry- and oil-roasted inshell sunflower and sunflower kernels and processed raw sunflower inshell and kernel for food and feed applications, was part of this segment until it was divested on October 11, 2022.
  • Fruit-Based Foods and Beverages includes individually quick frozen ("IQF") fruit for retail, including strawberries, blueberries, mango, pineapple, and other berries and blends, and IQF and bulk frozen fruit for foodservice, including toppings, purées, and smoothies. In addition, Fruit-Based Foods and Beverages includes fruit snacks, including bars, twists, ropes, and bite-sized varieties, and fruit smoothie bowls.

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. Total segment operating income/loss includes general and administrative expenses incurred by Corporate Services and excludes other income/expense items. In addition, interest on corporate debt and income taxes are not allocated to the operating segments.

Segment Revenues and Operating Income (Loss)

 

Operating segment results for the quarters and two quarters ended July 1, 2023 and July 2, 2022 were as follows:

 

    Quarter ended     Two quarters ended  
    July 1, 2023     July 2, 2022     July 1, 2023     July 2, 2022  
    $     $     $     $  
Revenues from external customers                        
Plant-Based Foods and Beverages   114,492     145,912     243,842     281,423  
Fruit-Based Foods and Beverages   93,317     97,619     187,847     202,281  
Total revenues from external customers   207,809     243,531     431,689     483,704  
                         
Segment operating income (loss)                        
Plant-Based Foods and Beverages   1,903     12,196     10,180     20,657  
Fruit-Based Foods and Beverages   (4,278 )   3,211     (2,493 )   3,995  
Corporate Services   (888 )   (7,298 )   (8,412 )   (12,537 )
Total segment operating income (loss)   (3,263 )   8,109     (725 )   12,115  
                         
Other income (expense), net   227     (1,540 )   192     (1,827 )
Interest expense, net   (6,969 )   (3,132 )   (12,781 )   (5,662 )
Earnings (loss) from continuing operations before income taxes   (10,005 )   3,437     (13,314 )   4,626  

Disaggregation of Revenue

The following table presents a disaggregation of revenues by operating segment based on categories used by the Company to evaluate sales performance:

    Quarter ended     Two quarters ended  
    July 1, 2023     July 2, 2022     July 1, 2023     July 2, 2022  
    $     $     $     $  
Plant-Based Foods and Beverages                        
Beverages and broths   112,949     114,898     240,268     223,520  
Plant-based ingredients   1,543     9,712     3,574     19,438  
Sunflower and roasted snacks(1)   -     21,302     -     38,465  
Total Plant-Based Foods and Beverages   114,492     145,912     243,842     281,423  
                         
Fruit-Based Foods and Beverages                        
Frozen fruit and fruit-based ingredients   66,646     74,164     135,557     157,657  
Fruit snacks and smoothie bowls   26,671     23,455     52,290     44,624  
Total Fruit-Based Foods and Beverages   93,317     97,619     187,847     202,281  
                         
Total revenues   207,809     243,531     431,689     483,704  

(1) Reflects revenues of the Company's former sunflower business and related roasted snacks operations, which were sold on October 11, 2022.

Segment Assets

 

Total assets by operating segment as at July 1, 2023 and December 31, 2022 were as follows:

 

    July 1, 2023     December 31, 2022  
    $     $  
Plant-Based Foods and Beverages   402,183     384,507  
Fruit-Based Foods and Beverages   359,553     347,678  
Corporate Services   125,389     123,667  
Total assets   887,125     855,852  

Segment Depreciation and Amortization

Depreciation and amortization by operating segment for the quarters and two quarters ended July 1, 2023 and July 2, 2022 was as follows:

    Quarter ended     Two quarters ended  
    July 1, 2023     July 2, 2022     July 1, 2023     July 2, 2022  
    $     $     $     $  
Plant-Based Foods and Beverages   6,326     4,572     11,766     9,006  
Fruit-Based Foods and Beverages   3,274     3,380     6,490     7,061  
Corporate Services   1,187     1,420     2,529     2,718  
Total depreciation and amortization   10,787     9,372     20,785     18,785