XML 30 R20.htm IDEA: XBRL DOCUMENT v3.25.1
Segment Information
 3 Months Ended
Mar. 29, 2025
Segment Reporting [Abstract]  
Segment Information [Text Block]

14. Segment Information

Segment Profit or Loss

The Company manages its continuing operations on a company-wide basis, rather than at a product category or business unit level, thereby making determinations as to the allocation of resources as one operating and reportable segment. Earnings from continuing operations as reported on the Company's consolidated statements of operations is the measure of segment profit or loss utilized by Company's Chief Executive Officer, who has been identified as the Chief Operating Decision Maker ("CODM"), when assessing performance and allocating resources. The significant segment-level expense information provided to the CODM is consistent with the Company's consolidated statements of operations, as supplemented by the specified expense items disclosed in the table below. The measure of segment assets is the same as total assets reported on the Company's consolidated balance sheet. There are no differences from the 2024 Form 10-K in the Company's basis for segmentation or basis for measurement of segment profit or loss.

Disaggregation of Revenue

The majority of the Company's products are shelf-stable packaged food and beverage products and share similar customers and distribution. The principal products that comprise the Company's product categories are as follows:

Category

Principal Products

Beverages and broths

Plant-based beverages utilizing oat, almond, soy, coconut, rice, hemp, and other bases, including Dream® and West Life™ brands; oat-based creamers, including SOWN® brand; ready-to-drink protein shakes; packaged teas and concentrates; meat and vegetable broths and stocks.

Fruit snacks

Ready-to-eat fruit snacks made from apple purée and juice concentrate in bar, bit, twist, strip and sandwich formats; cold pressed fruit bars.

Ingredients

Liquid bases utilizing oat and soy.

Revenue disaggregated by product category is as follows: 

    Quarter ended  
   

March 29,

2025

    

March 30,

2024

  
    $     $  
Product Category            
Beverages and broths   164,165     148,039  
Fruit snacks   33,073     29,409  
Ingredients   4,390     4,668  
Smoothie bowls(1)   -     2,306  
Total revenues   201,628     184,422  

(1) On March 4, 2024, the Company completed the sale of its smoothie bowl product line and exited the category.

Specified Expense Items

The following table presents details of specified expenses provided to the CODM and included in earnings from continuing operations:

    Quarter ended  
   

March 29,

2025

    

March 30,

2024

  
    $     $  
Depreciation and Amortization            
Depreciation expense included in cost of goods sold   7,957     6,929  
Depreciation expense included in selling, general and administrative expenses   1,323     1,201  
Intangible asset amortization expense   446     446  
Total depreciation and amortization   9,726     8,576  
             
Stock-Based Compensation            
Stock-based compensation expense included in selling, general and administrative expenses   1,543     4,645  
             
Interest Expense, Net            
Interest expense   6,008     6,182  
Amortization of debt issuance costs   249     229  
Interest income   (1,150 )   (361 )
Interest expense, net   5,107     6,050