Business Segment Data

12 Months Ended

Dec. 26, 2014

Segment Reporting [Abstract]

Business Segment Data

Business Segment Data

We are principally engaged in one major line of business, the production, distribution and marketing of bananas, other fresh produce and prepared food. Our products are sold in markets throughout the world, with our major producing operations located in North, Central and South America, Europe, Asia and Africa.

Our operations are aggregated into business segments on the basis of our products: bananas, other fresh produce and prepared food. Other fresh produce includes pineapples, melons, non-tropical fruit (including grapes, apples, pears, peaches, plums, nectarines, avocados, citrus and kiwis), fresh-cut products, other fruit and vegetables, a third-party ocean freight business, a plastic product and box manufacturing business. Prepared food includes prepared fruit and vegetables, juices, beverages, snacks, poultry and meat products.

We evaluate performance based on several factors, of which net sales and gross profit by product are the primary financial measures (U.S. dollars in millions):

	Year ended
	December 26, 2014				December 27, 2013				December 28, 2012
	Net Sales		Gross Profit		Net Sales		Gross Profit		Net Sales		Gross Profit
Banana	$	1,804.7	$	109.1	$	1,692.2	$	62.1	$	1,544.6	$	89.7
Other fresh produce	1,744.7		210.4		1,638.5		192.8		1,544.8		205.8
Prepared food	378.1		45.3		353.0		35.5		331.8		46.2
Totals	$	3,927.5	$	364.8	$	3,683.7	$	290.4	$	3,421.2	$	341.7

	Year ended
Net sales by geographic region:	December 26, 2014		December 27, 2013		December 28, 2012
North America	$	2,113.4	$	1,968.3	$	1,821.1
Europe	736.1		713.4		704.3
Middle East	554.3		524.3		387.4
Asia	434.5		425.6		422.2
Other	89.2		52.1		86.2
Total net sales	$	3,927.5	$	3,683.7	$	3,421.2

22. Business Segment Data (continued)

Property, plant and equipment, net:	December 26, 2014		December 27, 2013
North America	$	154.8	$	123.3
Europe	48.3		54.8
Middle East	156.8		163.0
Africa	42.1		40.7
Asia	72.6		38.4
Central America	583.1		566.3
South America	71.6		70.8
Maritime equipment (including containers)	26.9		31.4
Corporate	14.0		12.5
Total property, plant and equipment, net	$	1,170.2	$	1,101.2

Identifiable assets:	December 26, 2014		December 27, 2013
North America	$	469.3	$	403.7
Europe	346.2		333.7
Middle East	325.7		368.1
Africa	142.7		142.7
Asia	188.1		166.8
Central America	923.9		908.9
South America	154.1		136.6
Maritime equipment (including containers)	47.1		46.4
Corporate	78.2		82.3
Total identifiable assets	$	2,675.3	$	2,589.2

North America accounted for approximately 54%, 54% and 53% of our net sales for the years ended 2014, 2013 and 2012, respectively.  Our earnings are heavily dependent on operations located worldwide; however, our net sales are not dependent on any particular country other than the United States, with no other country accounting for greater than 10% of our net sales for 2014, 2013 and 2012.  These operations are a significant factor in the economies of some of the countries in which we operate and are subject to the risks that are inherent in operating in such countries, including government regulations, currency and ownership restrictions and risk of expropriation. Management reviews assets on the basis of geographic region and not by reportable segment, which more closely aligns our capital investment with demand for our products.  Costa Rica is our most significant sourcing location, representing approximately 40% of our property, plant and equipment as of December 26, 2014.  No foreign country other than Costa Rica accounts for greater than 10% of our property, plant and equipment.

One customer accounted for approximately 11% of net sales in 2014, and 12% of net sales in 2013 and 2012. These sales are reported in the banana and other fresh produce segments. No other customer accounted for 10% or more of our net sales. In 2014 and 2013; our top 10 customers accounted for approximately 29% of net sales as compared with 28% during 2012. Identifiable assets by geographic area represent those assets used in the operations of each geographic area. Corporate assets consist of goodwill, building, leasehold improvements and furniture and fixtures.