Business Segments Information

12 Months Ended

Jun. 30, 2012

Business Segments Information [Abstract]

Business Segments Information

Note 13 – Business Segments Information

We have evaluated our operations and have determined that the business was 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:

	2012	2011	2010
Specialty Foods
Non-frozen...............................................................................	$621,497	$570,547	$547,704
Frozen.......................................................................................	367,440	352,309	345,552
Total Specialty Foods.........................................................	$988,937	$922,856	$893,256
Glassware and Candles
Consumer table and giftware..............................................	$137,526	$161,635	$158,327
Nonconsumer ware and other.............................................	4,896	5,455	5,025
Total Glassware and Candles............................................	$142,422	$167,090	$163,352
Total...................................................................................	$1,131,359	$1,089,946	$1,056,608

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:

	2012	2011	2010
Net Sales(1)
Specialty Foods...................................................................	$988,937	$922,856	$893,256
Glassware and Candles.....................................................	142,422	167,090	163,352
Total...............................................................................	$1,131,359	$1,089,946	$1,056,608
Operating Income(2)
Specialty Foods..................................................................	$151,479	$155,218	$176,194
Glassware and Candles.....................................................	2,105	3,764	9,445
Corporate Expenses..........................................................	(10,297)	(11,978)	(11,440)
Total...............................................................................	$143,287	$147,004	$174,199
Identifiable Assets(1)(3)
Specialty Foods...................................................................	$384,604	$385,470	$362,844
Glassware and Candles.....................................................	85,714	87,452	105,537
Corporate............................................................................	212,317	149,167	118,072
Total...............................................................................	$682,635	$622,089	$586,453
Capital Expenditures
Specialty Foods..................................................................	$15,080	$34,292	$11,321
Glassware and Candles.....................................................	841	948	1,340
Corporate............................................................................	426	103	172
Total...............................................................................	$16,347	$35,343	$12,833
Depreciation and Amortization
Specialty Foods..................................................................	$17,512	$15,435	$15,832
Glassware and Candles.....................................................	2,677	3,427	4,601
Corporate............................................................................	77	78	100
Total...............................................................................	$20,266	$18,940	$20,533

(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:

	2012	2011	2010
Net sales to Wal-Mart...................................................	$238,719	$243,064	$246,759
As a percentage of consolidated net sales.................	21%	22%	23%

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

	2012	2011
Accounts receivable due from Wal-Mart as a percentage of consolidated accounts receivable..............................................................	41%	35%