Segment Information

12 Months Ended

Dec. 31, 2016

Segment Reporting [Abstract]

Segment Information

20. SEGMENT INFORMATION

The Company operates in four reportable segments: Foodservice, Retail, Convenience and Industrial.

The Foodservice segment supplies the diverse US “food-away-from-home” industry. The Foodservice customers include leading national and regional distributors with whom the Company has long-standing and collaborative relationships. The Company also supplies 95 of the largest 100 school districts in the U.S., working closely with schools to develop nutritious meal options of good quality and value. The Company’s diverse portfolio of products includes ready-to-eat sandwiches (such as breakfast sandwiches and PB&J sandwiches), sandwich components (such as Philly steaks and flame-grilled hamburger patties), and other entrées and snacks (such as country-fried steak, stuffed entrées and chicken tenders).

The Retail segment supplies national and regional grocery chains, major warehouse club stores, mass retailers and dollar stores. The Company sells both branded and private label ready-to-eat sandwiches (such as grilled chicken sandwiches and stuffed pockets), sandwich components (such as chicken patties and Philly steaks) and other entrées and snacks (such as stuffed chicken breasts).

Customers in the Company’s Convenience segment include national and regional convenience chains and vending providers. In the Convenience segment, the Company sells customized ready-to-eat sandwiches (such as breakfast sandwiches and burgers), sandwich components (such as chicken patties) and other entrées and snacks (such as cinnamon dough bites).

The Industrial segment primarily supplies other food producers, such as packaged food companies under short-term co-manufacturing agreements.

Segment performance is evaluated by the Company’s chief operating decision maker (“CODM”) and is based on net sales and operating income. Unallocated corporate income (expenses) primarily relate to executive management, finance and legal functions and refinancing related charges.

The following summarizes the Company’s net sales and operating income by reportable segment:

	Fiscal 2016			Fiscal 2015			Fiscal 2014
Net sales
Foodservice	$	849,933		$	886,095		$	829,563
Retail		409,612			395,941			399,621
Convenience		229,837			201,845			159,659
Industrial		78,877			127,730			188,784
Total	$	1,568,259		$	1,611,611		$	1,577,627
Operating income
Foodservice	$	168,266		$	134,287		$	70,592
Retail		38,331			28,543			13,488
Convenience		38,925			29,776			18,230
Industrial		3,080			2,767			1,998
Unallocated corporate expenses, net		(64,609	)		(44,966	)		(28,229	)
Total	$	183,993		$	150,407		$	76,079

The Company manages assets on a total company basis, not by operating segment. Its CODM does not regularly review any asset information by operating segment and, accordingly, the Company does not report asset information by operating segment. Total assets were approximately $1,247,011 and $1,096,159 at December 31, 2016 and January 2, 2016, respectively.

Net sales by product category were as follows:

	Fiscal 2016		Fiscal 2015		Fiscal 2014
Net sales
Sandwiches	$	474,085	$	455,107	$	412,009
Sandwich components		572,646		630,928		610,780
Other entrées and snacks		521,528		525,576		554,838
Total	$	1,568,259	$	1,611,611	$	1,577,627