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Note 13 - Segment Information | 12 Months Ended
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Mar. 31, 2018
Notes to Financial Statements |
Segment Reporting Disclosure [Text Block] | 13. Segment Information The Company manages its business on the basis of three reportable segments — the primary segment is the packaging and sale of fruits and vegetables, secondarily, the packaging and sale of prepared food products, third, the sale of snack products and finally, other products. The prepared foods segment is new and resulted from the acquisition of Truitt Bros., Inc. The Company markets its product almost entirely in the United States. Export sales represented 6.9%, 7.6%, and 8.5% of total sales in 2018, 2017, and 2016, respectively. In 2018, 2017, and 2016, the sale of Green Giant vegetables accounted for 9%, 11%, and 12% of net sales, respectively. “Other” in the table below represents activity related to can sales, trucking, seed sales, and flight operations. Segments are identified based the products produced, size and some other minor factors. Operating income is a measure used regularly by the chief operating decision maker.
|  | Fruit and |  |  | Prepared |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Vegetable |  |  | Foods |  |  | Snack |  |  | Other |  |  | Total |
|  | (In thousands) |
2018: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales |  | $ | 1,194,679 |  |  | $ | 92,826 |  |  | $ | 10,110 |  |  | $ | 17,150 |  |  | $ | 1,314,765 |
Operating income (loss) |  |  | (11,238 | ) |  |  | 2,869 |  |  |  | 558 |  |  |  | 2,544 |  |  |  | (5,267 | )
Interest expense, net |  |  | 14,321 |  |  |  | 533 |  |  |  | 24 |  |  |  | 159 |  |  |  | 15,037 |
Income tax (benefit) expense |  |  | (8,946 | ) |  |  | 931 |  |  |  | 213 |  |  |  | 1,330 |  |  |  | (6,472 | )
Identifiable assets |  |  | 1,013,359 |  |  |  | 53,132 |  |  |  | 1,915 |  |  |  | 2,025 |  |  |  | 1,070,431 |
Capital expenditures |  |  | 34,445 |  |  |  | 926 |  |  |  | - |  |  |  | 535 |  |  |  | 35,906 |
Depreciation and amortization |  |  | 25,978 |  |  |  | 4,330 |  |  |  | 336 |  |  |  | 903 |  |  |  | 31,547 |
2017: (Restated) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales |  | $ | 1,226,687 |  |  |  | - |  |  | $ | 12,430 |  |  | $ | 23,081 |  |  | $ | 1,262,198 |
Operating income |  |  | 32,164 |  |  |  | - |  |  |  | 945 |  |  |  | 1,633 |  |  |  | 34,742 |
Interest expense, net |  |  | 9,518 |  |  |  | - |  |  |  | 17 |  |  |  | 137 |  |  |  | 9,672 |
Income tax expense |  |  | 8,814 |  |  |  | - |  |  |  | 355 |  |  |  | 584 |  |  |  | 9,753 |
Identifiable assets |  |  | 972,549 |  |  |  | - |  |  |  | 2,833 |  |  |  | 2,886 |  |  |  | 978,268 |
Capital expenditures |  |  | 30,969 |  |  |  | - |  |  |  | 225 |  |  |  | 1,318 |  |  |  | 32,512 |
Depreciation and amortization |  |  | 23,525 |  |  |  | - |  |  |  | 346 |  |  |  | 953 |  |  |  | 24,824 |
2016: (Restated) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales |  | $ | 1,243,386 |  |  |  | - |  |  | $ | 12,336 |  |  | $ | 23,845 |  |  | $ | 1,279,567 |
Operating income |  |  | 90,302 |  |  |  | - |  |  |  | 1,164 |  |  |  | 265 |  |  |  | 91,731 |
Interest expense, net |  |  | 7,923 |  |  |  | - |  |  |  | 18 |  |  |  | 103 |  |  |  | 8,044 |
Income tax expense |  |  | 26,792 |  |  |  | - |  |  |  | 372 |  |  |  | 76 |  |  |  | 27,240 |
Identifiable assets |  |  | 938,632 |  |  |  | - |  |  |  | 2,697 |  |  |  | 3,662 |  |  |  | 944,991 |
Capital expenditures |  |  | 9,232 |  |  |  | - |  |  |  | 52 |  |  |  | 682 |  |  |  | 9,966 |
Depreciation and amortization |  |  | 20,438 |  |  |  | - |  |  |  | 351 |  |  |  | 948 |  |  |  | 21,737 |
The fruit and vegetable segment, consisting of Green Giant, canned fruit and vegetables and frozen products, represented 95%, 99% and 99% of assets and 112%, 97% and 100% of pre-tax earnings (loss) in 2018, 2017 and 2016, respectively.
Classes of similar products/services: |  | 2018 |  |  | 2017 |  |  | 2016 |
|  |  | (Restated) |  | (Restated) |
|  | (In thousands) |
Net Sales: |  |  |  |  |  |  |  |  |  |  |  |
Green Giant * |  | $ | 111,014 |  |  | $ | 136,329 |  |  | $ | 148,517 |
Canned vegetables |  |  | 721,121 |  |  |  | 705,297 |  |  |  | 746,501 |
Frozen |  |  | 105,857 |  |  |  | 98,597 |  |  |  | 94,710 |
Fruit |  |  | 256,687 |  |  |  | 286,464 |  |  |  | 253,658 |
Prepared foods |  |  | 92,826 |  |  |  | - |  |  |  | - |
Snack |  |  | 10,110 |  |  |  | 12,430 |  |  |  | 12,336 |
Other |  |  | 17,150 |  |  |  | 23,081 |  |  |  | 23,845 |
Total |  | $ | 1,314,765 |  |  | $ | 1,262,198 |  |  | $ | 1,279,567 |
* Green Giant includes canned and frozen vegetables exclusively for B&G Foods.

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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