Business Segment Information

12 Months Ended

Jun. 30, 2016

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.

The following table sets forth 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 ended June 30:

	2016		2015		2014
Specialty Foods
Non-frozen	$	818,716	$	741,726	$	681,872
Frozen	372,393		362,788		359,203
Total	$	1,191,109	$	1,104,514	$	1,041,075

Our Corporate Expensesinclude 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, and therefore have not been allocated to the Specialty Foods segment.

The following sets forth certain additional financial segment information of continuing operations for the years ended June 30 and certain items retained at the corporate level:

	2016			2015			2014
Net Sales (1) (2)	$	1,191,109		$	1,104,514		$	1,041,075
Operating Income (2)
Specialty Foods	$	196,592		$	167,095		$	165,383
Corporate Expenses	(12,022		)	(12,234		)	(11,616		)
Total	$	184,570		$	154,861		$	153,767
Identifiable Assets (1) (3)
Specialty Foods	$	515,553		$	514,605		$	405,416
Corporate	119,179			187,551			221,885
Total	$	634,732		$	702,156		$	627,301
Capital Expenditures
Specialty Foods	$	16,652		$	18,230		$	15,578
Corporate	19			68			67
Total	$	16,671		$	18,298		$	15,645
Depreciation and Amortization
Specialty Foods	$	24,001		$	20,929		$	18,785
Corporate	146			182			208
Total	$	24,147		$	21,111		$	18,993

(1) Net sales and long-lived assets are predominately domestic.

(2) All intercompany transactions have been eliminated.

(3) 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. The decline in Corporate assets from June 30, 2015 to June 30, 2016 was due to the decrease in cash resulting from the payment of the December 2015 special dividend.

Net sales attributable to McLane Company, Inc. (“McLane”), a wholesale distribution subsidiary of Berkshire Hathaway, Inc., and Wal-Mart Stores, Inc. (“Wal-Mart”) for each of the years ended June 30 were as follows:

	2016			2015			2014
Net sales to McLane	$	232,241		$	202,218		$	186,817
As a percentage of consolidated net sales	19		%	18		%	18		%
Net sales to Wal-Mart	$	189,417		$	177,354		$	175,388
As a percentage of consolidated net sales	16		%	16		%	17		%

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

	2016		2015
Wal-Mart	25	%	26	%
McLane	17	%	14	%