SEGMENTS During the first quarter of fiscal 2019 and the second quarter of fiscal 2018, the Company reorganized its reportable segments in accordance with ASC Topic 280, “Segment Reporting.” At December 31, 2018, the Company’s reportable segments were as follows: | | • | Post Consumer Brands: North American RTE cereal business; |
| | • | Weetabix: the RTE cereal and branded muesli business sold and distributed primarily outside of North America; |
| | • | Foodservice: primarily egg and potato products; |
| | • | Refrigerated Retail: refrigerated retail products, inclusive of side dishes, egg, cheese and sausage; and |
| | • | Active Nutrition: protein shakes and other ready-to-drink products, powders and bars and nutritional supplements. |
Effective October 1, 2018, 8th Avenue is no longer consolidated in the Company's financial statements and the 60.5% common equity retained interest in 8th Avenue is accounted for using the equity method. All historical segment results of 8th Avenue are reported herein as Post’s historical Private Brands segment. Due to the level of integration between the Foodservice and Refrigerated Retail segments, it is impracticable to present total assets separately for each segment. Where practicable, all fiscal 2018 segment results reported herein have been reclassified to conform with the December 31, 2018 presentation. Management evaluates each segment’s performance based on its segment profit, which is its earnings before income taxes and equity method earnings/loss before impairment of property and intangible assets, facility closure related costs, restructuring expenses, gain/loss on assets held for sale, gain/loss on sale of businesses and facilities, interest expense, net and other unallocated corporate income and expenses. The following tables present information about the Company’s reportable segments. | | | | | | | | | | | | | | Three Months Ended
December 31, | | | | 2018 | | 2017 | Net Sales | | | | | Post Consumer Brands | $ | 455.3 |
| | $ | 432.0 |
| | Weetabix | 100.9 |
| | 99.7 |
| | Foodservice | 408.1 |
| | 368.9 |
| | Refrigerated Retail | 261.6 |
| | 141.7 |
| | Active Nutrition | 185.8 |
| | 186.0 |
| | Private Brands | — |
| | 206.4 |
| | Eliminations | (0.4 | ) | | (1.6 | ) | | Total | $ | 1,411.3 |
| | $ | 1,433.1 |
| Segment Profit | | | | | Post Consumer Brands | $ | 84.0 |
| | $ | 70.2 |
| | Weetabix | 18.9 |
| | 16.8 |
| | Foodservice | 52.7 |
| | 45.9 |
| | Refrigerated Retail | 30.5 |
| | 23.2 |
| | Active Nutrition | 35.2 |
| | 19.8 |
| | Private Brands | — |
| | 16.9 |
| | Total segment profit | 221.3 |
| | 192.8 |
| General corporate expenses and other | 48.4 |
| | 28.3 |
| Gain on sale of business | (124.7 | ) | | — |
| Interest expense, net | 59.4 |
| | 90.5 |
| Loss on extinguishment of debt, net | 6.1 |
| | 37.3 |
| Expense (income) on swaps, net | 51.7 |
| | (2.7 | ) | Earnings before income taxes and equity method loss | $ | 180.4 |
| | $ | 39.4 |
| Depreciation and amortization | | | | | Post Consumer Brands | $ | 29.5 |
| | $ | 30.9 |
| | Weetabix | 8.7 |
| | 7.1 |
| | Foodservice | 27.0 |
| | 23.9 |
| | Refrigerated Retail | 18.0 |
| | 7.5 |
| | Active Nutrition | 6.4 |
| | 6.5 |
| | Private Brands | — |
| | 13.4 |
| | | Total segment depreciation and amortization | 89.6 |
| | 89.3 |
| | Corporate and accelerated depreciation | 4.0 |
| | 1.2 |
| | Total | $ | 93.6 |
| | $ | 90.5 |
| | | | | | | |
| Assets | December 31,
2018 | | September 30,
2018 | | Post Consumer Brands | $ | 3,371.5 |
| | $ | 3,391.7 |
| | Weetabix | 1,807.2 |
| | 1,853.3 |
| | Foodservice and Refrigerated Retail | 5,116.2 |
| | 5,132.4 |
| | Active Nutrition | 560.1 |
| | 559.3 |
| | Private Brands | — |
| | 1,055.3 |
| | Corporate | 429.8 |
| | 1,065.5 |
| | Total | $ | 11,284.8 |
| | $ | 13,057.5 |
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