Business Segment Data

6 Months Ended

Jun. 28, 2019

We are principally engaged in one major line of business, the production, distribution and marketing of fresh and value-added products and bananas. 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.

During March 2019, we changed our reportable segments to reflect the manner in which we manage our business. Based on changes to our organization structure and how our Chief Operating Decision Maker “CODM” reviews operating results and makes decisions about resource allocations. We have two reportable segments that represent our primary businesses which include fresh and value-added products and bananas. We also have other products and services segment which includes our ancillary businesses. Prior period amounts were adjusted retrospectively to reflect the changes in our segment data.

Fresh and value-added products includes pineapples, melons, non-tropical fruit (including grapes, apples, citrus, blueberries, strawberries, pears, peaches, plums, nectarines, cherries and kiwis), other fruit and vegetables, avocados, fresh-cut fruit and vegetables, prepared fruit and vegetables, juices, other beverages, prepared meals and snacks. Other products and services includes poultry and meat products, a plastic product business and a third-party freight services.

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):



	Quarter ended
	June 28, 2019				June 29, 2018
Segments:	Net Sales		Gross Profit		Net Sales				Gross Profit
Fresh and value-added products	$	764.3	$	58.1	$	780.7			$	51.3
Banana	440.0		35.0		457.8				23.8
Other products and services	35.1		3.2		33.9				3.2
Totals	$	1,239.4	$	96.3	$	1,272.4			$	78.3

	Six months ended
	June 28, 2019				June 29, 2018
Segments:	Net Sales		Gross Profit		Net Sales				Gross Profit
Fresh and value-added products	$	1,454.3	$	119.5	$	1,397.3	⁽¹	⁾	$	102.6	⁽¹	⁾
Banana	871.5		68.0		910.9				75.9
Other products and services	67.8		2.1		70.3				6.3
Totals	$	2,393.6	$	189.6	$	2,378.5			$	184.8



	Quarter ended				Six months ended
Net Sales by geographic region:	June 28, 2019		June 29, 2018		June 28, 2019		June 29, 2018
North America	$	816.8	$	814.8	$	1,565.6	$	1,478.3	⁽¹⁾
Europe	171.2		175.8		342.5		369.9
Asia	131.1		135.8		251.8		248.4
Middle East	109.3		126.0		207.1		241.9
Other	11.0		20.0		26.6		40.0
Totals	$	1,239.4	$	1,272.4	$	2,393.6	$	2,378.5

⁽¹⁾ Includes Net Sales of $197.5 million and Gross Profit of $17.9 million for the period from February 27, 2018 to June 29, 2018 related to Mann Packing. Refer to Note 4, “Acquisition”, for further discussion on the Mann Packing acquisition.

14. Business Segment Data (continued)

The following table indicates our net sales by product:



	Quarter ended								Six months ended
	June 28, 2019				June 29, 2018				June 28, 2019				June 29, 2018
Fresh and value-added products:
Fresh-cut fruit	147.0		12	%	146.9		12	%	265.6		11	%	264.7		11	%
Fresh-cut vegetables	121.4		10	%	125.2		10	%	243.9		10	%	187.8		8	%
Gold pineapples	126.1		10	%	139.4		11	%	237.4		10	%	259.5		11	%
Avocados	124.9		10	%	95.1		7	%	213.5		9	%	179.2		8	%
Non-tropical fruit	69.5		6	%	86.5		7	%	130.9		6	%	152.6		6	%
Prepared foods	66.8		5	%	68.2		5	%	132.5		6	%	123.2		5	%
Melons	25.0		2	%	34.3		3	%	69.7		3	%	85.5		4	%
Tomatoes	15.4		1	%	19.0		1	%	28.9		1	%	35.1		2	%
Vegetables	40.6		3	%	38.7		3	%	79.3		3	%	57.6		2	%
Other fruit and vegetables	27.6		2	%	27.4		2	%	52.6		2	%	52.1		2	%
Total fresh and value-added products	$	764.3	61	%	$	780.7	61	%	$	1,454.3	61	%	$	1,397.3	59	%
Banana	440.0		36	%	457.8		36	%	$	871.5	36	%	$	910.9	38	%
Other products and services	35.1		3	%	33.9		3	%	$	67.8	3	%	$	70.3	3	%
Totals	$	1,239.4	100	%	$	1,272.4	100	%	$	2,393.6	100	%	$	2,378.5	100	%