Business Segment Information

12 Months Ended

Jun. 30, 2014

Segment Reporting [Abstract]

Business Segment Information

Business Segment Information

We operate our business in one reportable segment, “Specialty Foods.” Our management evaluates segment performance based on sales and operating income.

Specialty Foods–includes the production, marketing and sale of a family of pourable and refrigerated produce salad dressings, croutons, sauces, fruit glazes, refrigerated produce vegetable and fruit dips, hummus, chip dips, dry and frozen pasta and egg noodles, caviar, frozen hearth-baked breads, frozen yeast rolls, sweet rolls and biscuits. Salad dressings, sauces, croutons, frozen pasta and egg noodles, frozen bread products and frozen yeast rolls are sold to both retail and foodservice markets. The remaining products of this business segment are primarily directed to retail markets.

The following table sets forth reportable segment information with respect to the amount of net sales contributed by each class of similar products of our consolidated net sales in each of the years ending June 30:

	2014		2013		2012
Specialty Foods
Non-frozen	$	681,872	$	649,447	$	621,497
Frozen	359,203		364,356		367,440
Total	$	1,041,075	$	1,013,803	$	988,937

Corporate Expenses–includes various expenses of a general corporate nature, as well as costs related to certain divested or closed nonfood operations, including the expense associated with retirement plans applicable to those closed units. These corporate expenses are generally not directly attributable to the reportable operating segment and therefore have not been allocated to the segment.

The following sets forth certain additional financial information attributable to our reportable segment for the years ended June 30 and certain items retained at the corporate level:

	2014			2013			2012
Net Sales - Specialty Foods	$	1,041,075		$	1,013,803		$	988,937
Operating Income (1) (3)
Specialty Foods	$	165,383		$	165,710		$	151,479
Corporate Expenses	(11,616		)	(11,787		)	(10,297		)
Total	$	153,767		$	153,923		$	141,182
Identifiable Assets (2)
Specialty Foods	$	405,416		$	392,494		$	384,604
Assets of Discontinued Operations	—			78,578			85,370
Corporate	233,214			148,892			212,661
Total	$	638,630		$	619,964		$	682,635
Capital Expenditures  (3)
Specialty Foods	$	15,578		$	23,341		$	15,080
Corporate	67			119			426
Total	$	15,645		$	23,460		$	15,506
Depreciation and Amortization  (3)
Specialty Foods	$	18,785		$	17,469		$	17,512
Corporate	208			148			77
Total	$	18,993		$	17,617		$	17,589

(1) Operating income represents net sales less operating expenses related to the business segment. All intercompany transactions have been eliminated.

(2) Segment identifiable assets include those assets used in its operations and other intangible assets allocated to purchased businesses. Corporate assets consist principally of cash and equivalents, prepaid Federal, state and local income taxes and deferred income taxes.

(3) Financial information reflects continuing operations.

Net sales attributable to McLane Company, Inc. ("McLane"), a wholesale distribution subsidiary of Berkshire Hathaway, Inc., for each of the years ended June 30 were as follows:

	2014			2013
Net sales to McLane	$	186,817		$	132,872
As a percentage of consolidated net sales	18		%	13		%

Net sales attributable to Wal-Mart Stores, Inc. (“Wal-Mart”) for each of the years ending June 30 were as follows:

	2014			2013			2012
Net sales to Wal-Mart	$	175,388		$	168,976		$	160,167
As a percentage of consolidated net sales	17		%	17		%	16		%

Accounts receivable attributable to Wal-Mart at June 30 as a percentage of consolidated accounts receivable were as follows:

	2014		2013
Accounts receivable due from Wal-Mart as a percentage of consolidated accounts receivable	27	%	24	%

Accounts receivable attributable to McLane at June 30 as a percentage of consolidated accounts receivable were as follows:

	2014		2013
Accounts receivable due from McLane as a percentage of consolidated accounts receivable	13	%	15	%