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Segment Information
 9 Months Ended
Sep. 30, 2014
Segment Reporting [Abstract]  
Segment Information
Segment Information
We report three business segments:
•
Bananas: Includes the sourcing (purchase and production), transportation, marketing and distribution of bananas.
•
Salads and Healthy Snacks: Includes ready-to-eat, packaged salads, referred to in the industry as "value-added salads" and other value-added products, such as healthy snacking items, fresh vegetable and fruit ingredients used in food service; and processed fruit ingredients.
•
Other Produce: Includes the sourcing, marketing and distribution of whole fresh produce other than bananas. The primary product of the Other Produce segment is pineapples.
Certain corporate expenses are not allocated to the reportable segments and are included in "Corporate costs". Inter-segment transactions are eliminated.
Financial information for each segment follows:
 
Quarter Ended September 30,
 
Nine Months Ended September 30,
(In thousands)
2014
 
2013
 
2014
 
2013
Net sales:
 
 
 
 
 
 
 
Bananas
$
477,472

 
$
455,981

 
$
1,516,343

 
$
1,481,625

Salads and Healthy Snacks1
234,235

 
239,102

 
713,163

 
739,392

Other Produce
26,844

 
27,979

 
96,882

 
88,468

 
$
738,551

 
$
723,062

 
$
2,326,388

 
$
2,309,485

Operating income (loss):
 
 
 
 
 
 
 
Bananas2
$
18,138

 
$
18,039

 
$
82,159

 
$
101,438

Salads and Healthy Snacks3
6,236

 
(5,155
)
 
9,978

 
4,595

Other Produce4
(4,788
)
 
2,325

 
(4,663
)
 
1,904

Corporate costs5
(21,024
)
 
(14,056
)
 
(51,591
)
 
(41,070
)
 
$
(1,438
)
 
$
1,153

 
$
35,883

 
$
66,867


1 
In the second quarter of 2013, we sold one of our European healthy snacking businesses which represented approximately $12 million in annual net sales and had an insignificant effect on operating income. In the first quarter of 2014, we disposed of another non-core healthy snacking business in Europe which represented approximately $2 million in annual net sales. Both disposals had insignificant effects on operating income (loss).
2 
Includes $5 million of cost related to the changeover of vessels at the end of the respective leases and a $1 million gain on the sale of a ripening facility in Europe in the nine months ended September 30, 2014.
3 
Includes $2 million and $5 million of cost in the quarter and nine months ended September 30, 2014 related to severance, product resizing, product discontinuation, equipment write-downs and a legal settlement. Includes $1 million of "Cost of sales" in 2013 for severance costs related to a fruit ingredient business.
4 
Includes $3 million in the third quarter of 2014 related to a claim settlement with a former supplier of other produce products that were discontinued in previous periods.
5 
Includes $4 million and $13 million of costs for the quarter and nine months ended September 30, 2014, respectively, for the proposed combination with Fyffes. Includes $4 million of costs in the third quarter of 2014 for the due diligence related to the unsolicited offer from the Cutrale Group and the Safra Group.