Segment Information

6 Months Ended

Jun. 30, 2015

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 June 30,						Six Months Ended June 30,
(In thousands)	2015			2014			2015			2014
Net sales:
Bananas	$	502,194		$	537,340		$	973,198		$	1,038,871
Salads and Healthy Snacks	248,108			249,317			478,341			478,928
Other Produce	26,345			39,190			50,439			70,038
	$	776,647		$	825,847		$	1,501,978		$	1,587,837
Operating income (loss):
Bananas1,4	$	65,984		$	43,332		$	94,561		$	64,021
Salads and Healthy Snacks2,4	27,818			7,227			38,719			3,742
Other Produce4	2,179			30			4,222			125
Corporate costs3,4	(25,833		)	(13,856		)	(80,284		)	(30,567		)
	$	70,148		$	36,733		$	57,218		$	37,321

¹  Includes $5 million of cost related to the changeover of vessels at the end of the leases and a$1 million gain on the sale of a ripening facility in Europe in the second quarter of 2014.

²  Includes $2 million of cost in the second quarter of 2014 related to inventory and equipment write downs and severance expense related to product resizing, product discontinuation and overhead savings initiatives.    

³  Includes $12 million and $3 million of transaction costs for the quarters ended June 30, 2015 and 2014, and $60 million and $9 million of transaction costs for the six months ended June 30, 2015 and 2014, respectively, related to the Merger Agreement and the terminated Fyffes plc. strategic combination.

⁴  Includes a reclassification of less than $1 million of transaction costs not properly classified as of March 31, 2015 and included in the Bananas segment, less than $1 million in Other Produce segment. and $3 million in Salads and Healthy Snacks segment, aggregating to $4 million which should have been included in Corporate costs.