Segment Reporting

3 Months Ended

Mar. 30, 2013

Segment Reporting [Abstract]

Segment Reporting

Note 6 – Segment Reporting

Our product lines include CSDs, 100% shelf stable juice and juice-based products, clear, still and sparkling flavored waters, energy products, sports products, new age beverages, and ready-to-drink teas, as well as alcoholic beverages for brand owners. Our business operates through five reporting segments – North America (which includes our U.S. operating segment and Canada operating segment), U.K. (which includes our United Kingdom reporting unit and our Continental European reporting unit), Mexico, Royal Crown International (“RCI”) and All Other. The primary measures used in evaluating our reporting segments are revenues, operating income (loss), and additions to property, plant and equipment, which have been included as part of our segment disclosures listed below.

(in millions of U.S. dollars)	North America		United Kingdom		Mexico			RCI		All Other		Total
For the Three Months Ended March 30, 2013
External revenue1	$	393.2	$	97.4	$	7.4		$	7.4	$	—	$	505.4
Depreciation and amortization		21.0		3.2		0.5			—		—		24.7
Operating income (loss)		13.8		—		(0.7	)		2.0		—		15.1
Additions to property, plant & equipment		14.5		4.6		0.8			—		—		19.9
As of March 30, 2013
Property, plant & equipment	$	382.0	$	94.8	$	10.0		$	—	$	—	$	486.8
Goodwill		125.2		—		—			4.5		—		129.7
Intangibles and other assets		292.6		12.6		0.4			—		—		305.6
Total assets2		1,223.5		235.2		26.8			13.8		0.8		1,500.1

¹  Intersegment revenue between North America and the other reporting segments was $3.8 million for the three months ended March 30, 2013.

²  Excludes intersegment receivables, investments and notes receivable.

(in millions of U.S. dollars)	North America		United Kingdom		Mexico			RCI		All Other		Total
For the Three Months Ended March 31, 2012
External revenue1	$	408.1	$	99.2	$	9.1		$	7.4	$	—	$	523.8
Depreciation and amortization		20.1		3.3		0.4			—		—		23.8
Operating income (loss)		17.3		3.2		(1.3	)		1.8		—		21.0
Additions to property, plant & equipment		12.6		5.0		0.1			—		—		17.7
As of December 29, 2012
Property, plant & equipment	$	382.1	$	99.5	$	9.3		$	—	$	—	$	490.9
Goodwill		125.8		—		—			4.5		—		130.3
Intangibles and other assets		301.1		13.9		0.4			—		—		315.4
Total assets2		1,246.7		273.8		28.1			14.1		3.2		1,565.9

¹  Intersegment revenue between North America and the other reporting segments was $4.1 million for the three months ended March 31, 2012.

²  Excludes intersegment receivables, investments and notes receivable.

For the three months ended March 30, 2013, sales to Walmart accounted for 32.8% (March 31, 2012 – 31.6%) of our total revenues, 37.8% of our North America reporting segment revenues (March 31, 2012 – 36.0%), 16.5% of our U.K. reporting segment revenues (March 31, 2012 – 16.8%), and 13.3% of our Mexico reporting segment revenues (March 31, 2012 – 24.4%).

Credit risk arises from the potential default of a customer in meeting its financial obligations to us. Concentrations of credit exposure may arise with a group of customers that have similar economic characteristics or that are located in the same geographic region. The ability of such customers to meet obligations would be similarly affected by changing economic, political or other conditions. We are not currently aware of any facts that would create a material credit risk.

Revenues are attributed to operating segments based on the location of the customer. Revenues by operating segment were as follows:

	For the Three Months Ended
(in millions of U.S. dollars)	March 30, 2013			March 31, 2012
United States	$	354.8		$	366.2
Canada		47.5			53.8
United Kingdom		97.4			99.2
Mexico		7.4			9.1
RCI		7.4			7.4
Elimination1		(9.1	)		(11.9	)
Total	$	505.4		$	523.8

¹  Represents intersegment revenue among our operating segments, of which $3.8 million represents intersegment revenue between the North America reporting segment and our other operating segments for the three months ended March 30, 2013, and $4.1 million represents intersegment revenue between the North America reporting segment and our other operating segments for the three months ended March 31, 2012.

Revenues by product were as follows:

For the Three Months Ended March 30, 2013
(in millions of U.S. dollars)	North America		United Kingdom		Mexico		RCI		Total
Revenue
Carbonated soft drinks	$	151.4	$	32.7	$	3.5	$	0.1	$	187.7
Juice		135.0		3.1		—		0.5		138.6
Concentrate		3.1		0.6		—		6.8		10.5
All other products		103.7		61.0		3.9		—		168.6
Total	$	393.2	$	97.4	$	7.4	$	7.4	$	505.4

For the Three Months Ended March 31, 2012
(in millions of U.S. dollars)	North America		United Kingdom		Mexico		RCI		Total
Revenue
Carbonated soft drinks	$	163.8	$	33.7	$	5.6	$	—	$	203.1
Juice		133.9		3.1		0.1		0.4		137.5
Concentrate		2.9		0.8		—		7.0		10.7
All other products		107.5		61.6		3.4		—		172.5
Total	$	408.1	$	99.2	$	9.1	$	7.4	$	523.8

Property, plant and equipment by operating segment as of March 30, 2013 and December 29, 2012 was as follows:

(in millions of U.S. dollars)	March 30, 2013		December 29, 2012
United States	$	335.1	$	333.7
Canada		46.9		48.4
United Kingdom		94.8		99.5
Mexico		10.0		9.3
Total	$	486.8	$	490.9