Business Segment Information

12 Months Ended

Jun. 30, 2017

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 net sales contributed by each class of similar products in each of the years ended June 30:

	2017		2016		2015
Specialty Foods
Non-frozen	$	817,700	$	818,716	$	741,726
Frozen	384,142		372,393		362,788
Total	$	1,201,842	$	1,191,109	$	1,104,514

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 for the years ended June 30 and certain items retained at the corporate level:

	2017			2016			2015
Net Sales (1) (2)	$	1,201,842		$	1,191,109		$	1,104,514
Operating Income (2)
Specialty Foods	$	187,051		$	196,592		$	167,095
Corporate Expenses	(12,303		)	(12,022		)	(12,234		)
Total	$	174,748		$	184,570		$	154,861
Identifiable Assets (1) (3)
Specialty Foods	$	577,509		$	515,553		$	514,605
Corporate	138,896			119,179			187,551
Total	$	716,405		$	634,732		$	702,156
Capital Expenditures
Specialty Foods	$	26,031		$	16,652		$	18,230
Corporate	974			19			68
Total	$	27,005		$	16,671		$	18,298
Depreciation and Amortization
Specialty Foods	$	24,752		$	24,001		$	20,929
Corporate	154			146			182
Total	$	24,906		$	24,147		$	21,111

(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 increase in Specialty Foods assets from June 30, 2016 to June 30, 2017 was due to the acquisition of Angelic. 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 Wal-Mart Stores, Inc. (“Wal-Mart”) and McLane Company, Inc. (“McLane”), a wholesale distribution subsidiary of Berkshire Hathaway, Inc., for each of the years ended June 30 were as follows:

	2017			2016			2015
Net sales to Wal-Mart	$	201,484		$	189,417		$	177,354
As a percentage of consolidated net sales	17		%	16		%	16		%
Net sales to McLane	$	198,153		$	232,241		$	202,218
As a percentage of consolidated net sales	16		%	19		%	18		%

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

	2017		2016
Wal-Mart	26	%	25	%
McLane	12	%	17	%