Segments (Tables)

3 Months Ended

Mar. 31, 2019

Summary of Financial Information by Segment

The Company’s segment results are as follows:

	First Quarter
(in thousands)	2019			2018
Net sales:
Nonalcoholic Beverages⁽¹⁾	$	1,072,227		$	1,040,422
All Other		87,915			86,599
Eliminations⁽²⁾		(57,230	)		(62,264	)
Consolidated net sales	$	1,102,912		$	1,064,757

Income (loss) from operations:
Nonalcoholic Beverages	$	14,641		$	(22,745	)
All Other		5,513			3,748
Consolidated income (loss) from operations	$	20,154		$	(18,997	)

Depreciation and amortization:
Nonalcoholic Beverages	$	43,351		$	44,825
All Other		2,421			2,395
Consolidated depreciation and amortization	$	45,772		$	47,220

⁽¹⁾

^{The Company historically presented consideration paid to customers under certain contractual arrangements for exclusive distribution rights and sponsorship privileges as a marketing expense within SD&A expenses. The Company has now determined such amounts should be presented as a reduction to net sales and has revised the presentation of previously issued financial statements to correct for this error. Net sales and SD&A expenses were revised by $7.3 million in the first quarter of 2018. See Note 3 to the consolidated condensed financial statements for additional information.}

⁽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.}