XML 176 R15.htm IDEA: XBRL DOCUMENT v3.22.4
Business Segment Information
 6 Months Ended
Dec. 31, 2022
Segment Reporting [Abstract]  
Business Segment Information Business Segment Information
Our financial results are presented as two reportable segments: Retail and Foodservice. Costs that are directly attributable to either Retail or Foodservice are charged directly to the appropriate segment. Costs that are deemed to be indirect, excluding corporate expenses and other unusual significant transactions, are allocated to the two reportable segments using a reasonable methodology that is consistently applied.
Retail - The vast majority of the products we sell in the Retail segment are sold through sales personnel, food brokers and distributors in the United States. We have placement of products in grocery produce departments through our refrigerated salad dressings, vegetable dips and fruit dips. Our flatbread products and sprouted grain bakery products are generally placed in the specialty bakery/deli section of the grocery store. We also have products typically marketed in the shelf-stable section of the grocery store, which include salad dressings, slaw dressing, sauces and croutons. Within the frozen food section of the grocery store, we sell yeast rolls and garlic breads.
Foodservice - The vast majority of the products we sell in the Foodservice segment are sold through sales personnel, food brokers and distributors in the United States. Most of the products we sell in the Foodservice segment are custom-formulated and include salad dressings, sandwich and dipping sauces, frozen breads and yeast rolls. The majority of our Foodservice sales are products sold under private label to restaurants. We also manufacture and sell various branded Foodservice products to distributors.
As many of our products are similar between our two segments, our procurement, manufacturing, warehousing and distribution activities are substantially integrated across our operations in order to maximize efficiency and productivity. Consequently, we do not prepare, and our Chief Operating Decision Maker does not review, separate balance sheets for the reportable segments. As such, our external reporting does not include the presentation of identifiable assets by reportable segment. The composition of our identifiable assets at December 31, 2022 is generally consistent with that of June 30, 2022.
We evaluate our Retail and Foodservice segments based on net sales and operating income which follow:
 Three Months Ended 
December 31,		Six Months Ended 
December 31,
 2022202120222021
Net Sales
Retail$258,763 $245,085 $481,979 $468,974 
Foodservice218,631 183,342 420,952 351,509 
Total$477,394 $428,427 $902,931 $820,483 
Operating Income
Retail$49,352 $49,606 $92,252 $97,784 
Foodservice26,696 18,309 58,625 34,134 
Nonallocated Restructuring and Impairment Charges (1)
— (1,026)— (1,026)
Corporate Expenses(24,721)(21,583)(50,252)(45,075)
Total$51,327 $45,306 $100,625 $85,817 
(1)Reflects restructuring and impairment charges related to a facility closure, which were not allocated to our two reportable segments due to their unusual nature.
The following table sets forth net sales disaggregated by class of similar products for the Retail and Foodservice segments:
 Three Months Ended 
December 31,		Six Months Ended 
December 31,
 2022202120222021
Retail
Shelf-stable dressings, sauces and croutons$94,711 $87,334 $185,749 $177,861 
Frozen breads117,424 110,379 190,282 185,098 
Refrigerated dressings, dips and other46,628 47,372 105,948 106,015 
Total Retail net sales$258,763 $245,085 $481,979 $468,974 
Foodservice
Dressings and sauces$160,855 $136,038 $311,915 $260,797 
Frozen breads and other57,776 47,304 109,037 90,712 
Total Foodservice net sales$218,631 $183,342 $420,952 $351,509 
Total net sales$477,394 $428,427 $902,931 $820,483 
The following table provides an additional disaggregation of Foodservice net sales by type of customer:
 Three Months Ended 
December 31,		Six Months Ended 
December 31,
 2022202120222021
Foodservice
National accounts$171,814 $141,753 $332,006 $267,881 
Branded and other46,817 41,589 88,946 83,628 
Total Foodservice net sales$218,631 $183,342 $420,952 $351,509