23.Segments

The Company evaluates segment reporting in accordance with the FASB Accounting Standards Codification 280, Segment Reporting, each reporting period, including evaluating the reporting package reviewed by the Chief Operation Decision Maker (“CODM”). The Company has concluded the Chief Executive Officer, Chief Operating Officer and Chief Financial Officer, as a group, represent the CODM. In conjunction with the completion of the System Transformation Transactions in October 2017 and integration of acquired operations, management continues to assess whether changes are necessary to the Company’s reportable segments.

The Company believes four operating segments exist. Nonalcoholic Beverages represents the vast majority of the Company’s consolidated revenues, income from operations and assets. The additional three operating segments do not meet the quantitative thresholds for separate reporting, either individually or in the aggregate, and therefore have been combined into “All Other.”

The Company’s segment results are as follows:

	Third Quarter						First Three Quarters
(in thousands)	2018			2017			2018			2017
Net sales:
Nonalcoholic Beverages⁽¹⁾	$	1,180,212		$	1,142,238		$	3,427,492		$	3,139,974
All Other⁽¹⁾		93,493			81,439			273,490			220,734
Eliminations⁽²⁾		(62,044	)		(61,151	)		(189,985	)		(163,189	)
Consolidated net sales	$	1,211,661		$	1,162,526		$	3,510,997		$	3,197,519

Income from operations:
Nonalcoholic Beverages	$	39,361		$	33,867		$	32,705		$	90,254
All Other		5,043			3,605			12,381			10,823
Consolidated income from operations	$	44,404		$	37,472		$	45,086		$	101,077

Depreciation and amortization:
Nonalcoholic Beverages	$	44,050		$	41,151		$	133,095		$	114,166
All Other		2,539			2,095			7,401			6,127
Consolidated depreciation and amortization	$	46,589		$	43,246		$	140,496		$	120,293

⁽¹⁾

In order to correct an error in the prior year segment presentation, the Company revised net sales by $39.2 million for the third quarter of 2017 and $96.4 million for the first three quarters of 2017 to reflect sales in the Nonalcoholic Beverages segment which were previously attributed to All Other. Total net sales remain unchanged in prior periods and these revisions were not considered material to the prior periods presented.

⁽²⁾

The entire net sales elimination for each period presented represents net sales from All Other to the Nonalcoholic Beverages segment. Sales between these segments are recognized at either fair market value or cost depending on the nature of the transaction.