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Note 12 - Segment Information | 3 Months Ended
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Jun. 29, 2024
Notes to Financial Statements |
Segment Reporting Disclosure [Text Block] |
12. | Segment Information
The Company conducts its business almost entirely in food packaging with two reportable segments: Vegetable and Fruit/Snack. The reportable segments reflect how the Company's Chief Executive Officer, who is the Chief Operating Decision Maker (“CODM”), allocates resources and evaluates performance, and how the Company's internal management financial reporting is structured. The Company's CODM evaluates the performance of these reportable segments with a focus on earnings (loss) before income taxes as the measure of segment profit or loss. The Other category consists of the Company's non-food operations including revenue derived from the sale of cans, ends, seed, outside revenue from the Company's trucking and aircraft operations, and certain corporate items. These ancillary activities do not qualify as an operating segment and are not eligible for aggregation with one of the identified operating segments; therefore they are combined and presented within the “Other” category. Segment information is provided on a FIFO basis which is consistent with how financial information is prepared internally and provided to the CODM. The LIFO impact on earnings (loss) before income taxes and total assets is shown separately for purposes of reconciling to the GAAP financial statement measure shown on the condensed consolidated statements of net earnings and condensed consolidated balance sheets. The following table summarizes certain financial data for the Company’s reportable segments (in thousands):
|  | Three Months Ended June 29, 2024 |
|  |  |  |  |  | Fruit and |  |  |  |  |  |  | Subtotal |  |  | LIFO |  |  |  |  |
|  | Vegetable |  |  | Snack |  |  | Other |  |  | (FIFO basis) |  |  | Impact |  |  | Total |
Net sales |  | $ | 279,083 |  |  | $ | 21,706 |  |  | $ | 3,938 |  |  | $ | 304,727 |  |  | $ | - |  |  | $ | 304,727 |
Earnings before income taxes |  |  | 11,342 |  |  |  | 2,002 |  |  |  | 239 |  |  |  | 13,583 |  |  |  | 2,918 |  |  |  | 16,501 |
Total assets |  |  | 1,579,664 |  |  |  | 107,739 |  |  |  | 3,586 |  |  |  | 1,690,989 |  |  |  | (321,864 | ) |  |  | 1,369,125 |
|  | Three Months Ended July 1, 2023 |
|  |  |  |  |  | Fruit and |  |  |  |  |  |  | Subtotal |  |  | LIFO |  |  |  |  |
|  | Vegetable |  |  | Snack |  |  | Other |  |  | (FIFO basis) |  |  | Impact |  |  | Total |
Net sales |  | $ | 272,489 |  |  | $ | 19,836 |  |  | $ | 6,339 |  |  | $ | 298,664 |  |  | $ | - |  |  | $ | 298,664 |
Earnings before income taxes |  |  | 25,073 |  |  |  | 199 |  |  |  | 3,289 |  |  |  | 28,561 |  |  |  | 1,700 |  |  |  | 30,261 |
Total assets |  |  | 1,449,404 |  |  |  | 104,506 |  |  |  | 3,446 |  |  |  | 1,557,356 |  |  |  | (300,740 | ) |  |  | 1,256,616 |

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- Definition The entire disclosure for reporting segments including data and tables. 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