Business Segments Information

12 Months Ended

Jun. 30, 2011

Business Segments Information

Business Segments Information

Note 13 – Business Segments Information 

We have evaluated our operations and have determined that the business is separated into two distinct operating and reportable segments: "Specialty Foods" and "Glassware and Candles."

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, 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.

Glassware and Candles–includes the production and marketing of candles in a variety of popular sizes, shapes and scents and other home fragrance products, as well as the distribution of various commercial products, including glassware and candles. This segment's products are sold primarily to retail markets such as mass merchandisers and food and drug stores, but also, to a lesser extent, to commercial 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:

	2011	2010	2009
Specialty Foods
Non-frozen	$  570,547	$  547,704	$  569,053
Frozen	352,309	345,552	340,844
Total Specialty Foods	$  922,856	$  893,256	$  909,897
Glassware and Candles
Consumer table and giftware	$  161,635	$  158,327	$  134,991
Nonconsumer ware and other	5,455	5,025	6,603
Total Glassware and Candles	$  167,090	$  163,352	$  141,594
Total	$ 1,089,946	$ 1,056,608	$ 1,051,491

Corporate Expenses–include 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 any real property held for sale. These corporate expenses are generally not directly attributable to the reportable operating segments and therefore have not been allocated to those segments.

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

	2011	2010	2009
Net Sales(1)
Specialty Foods	$  922,856	$  893,256	$   909,897
Glassware and Candles	167,090	163,352	141,594
Total	$ 1,089,946	$ 1,056,608	$ 1,051,491
Operating Income (Loss)(2)
Specialty Foods	$  155,218	$  176,194	$  145,848
Glassware and Candles	3,764	9,445	(5,671)
Corporate Expenses	(11,978)	(11,440)	(10,529)
Total	$  147,004	$  174,199	$ 129,648
Identifiable Assets(1)(3)
Specialty Foods	$  385,470	$  362,844	$  349,401
Glassware and Candles	87,452	105,537	93,813
Corporate	149,167	118,072	55,267
Total	$  622,089	$  586,453	$ 498,481
Capital Expenditures
Specialty Foods	$     34,292	$     11,321	$     10,680
Glassware and Candles	948	1,340	492
Corporate	103	172	164
Total	$     35,343	$     12,833	$    11,336
Depreciation and Amortization
Specialty Foods	$     15,435	$     15,832	$     15,409
Glassware and Candles	3,427	4,601	6,303
Corporate	78	100	158
Total	$     18,940	$     20,533	$    21,870

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

(2)   Operating income represents net sales less operating expenses related to the business segments. All intercompany transactions have been eliminated, and intersegment revenues are not significant.

(3)   Identifiable assets for each segment include those assets used in its operations and intangible assets allocated to purchased businesses. Corporate assets consist principally of cash and equivalents, deferred income taxes and certain real property that is held for sale.

Combined net sales from the two segments attributable to Wal-Mart Stores, Inc. ("Wal-Mart") for each of the years ending June 30 were as follows:

	2011	2010	2009
Net sales to Wal-Mart.	$   243,064	$  246,759	$   205,882
As a percentage of consolidated net sales	22%	23%	20%

Combined accounts receivable for the two segments attributable to Wal-Mart at June 30 as a percentage of consolidated accounts receivable were as follows:

	2011	2010
Accounts receivable due from Wal-Mart as a percentage of consolidated accounts receivable	35%	41%