Segment Information

3 Months Ended

Apr. 01, 2017

Segment Reporting [Abstract]

Segment Information

20. SEGMENT INFORMATION

We operate in four reportable segments: Foodservice, Retail, Convenience and Industrial.

The Foodservice segment supplies the diverse US “food-away-from-home” industry. Our Foodservice customers include leading national and regional distributors with whom we have long-standing and collaborative relationships. We supply 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. Our 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. We sell 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 and breaded poultry).

Customers in our Convenience segment include national and regional convenience chains and vending providers. In the Convenience segment, we sell 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 our 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 our net sales and operating income by reportable segment:

	1st Quarter			1st Quarter
	2017			2016
Net sales
Foodservice	$	217,406		$	216,040
Retail		107,531			105,899
Convenience		53,827			53,023
Industrial		23,965			19,533
Total	$	402,729		$	394,495
Operating income (expenses)
Foodservice	$	40,992		$	37,448
Retail		10,987			9,104
Convenience		10,074			8,750
Industrial		1,704			513
Unallocated corporate expenses, net		(3,066	)		(12,005	)
Total	$	60,691		$	43,810

We manage assets on a total company basis, not by operating segment. Our CODM does not regularly review any asset information by operating segment and, accordingly, we do not report asset information by operating segment. Total assets were approximately $1,279,795 and $1,247,011 at April 1, 2017 and December 31, 2016, respectively.

Net sales by product category were as follows:

	1st Quarter		1st Quarter
	2017		2016
Net sales
Sandwiches	$	119,878	$	123,819
Sandwich components		152,375		136,686
Other entrees and snacks		130,476		133,990
Total	$	402,729	$	394,495