Business Segment Data

3 Months Ended

Mar. 27, 2020

We are principally engaged in 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.

Our operations are organized into two reportable segments that represent our primary businesses and one reportable segment that represents our ancillary businesses.


•	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.


•	Banana


•	Other products and services - includes our ancillary businesses consisting of sales of poultry and meat products, a plastic product business, and 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
	March 27, 2020				March 29, 2019
Segments:	Net Sales		Gross Profit		Net Sales		Gross Profit
Fresh and value-added products	$	660.9	$	42.5	$	690.0	$	61.5
Banana	427.0		24.5		431.5		34.7
Other products and services	30.1		1.5		32.7		(1.1		)
Totals	$	1,118.0	$	68.5	$	1,154.2	$	95.1



	Quarter ended
Net Sales by geographic region:	March 27, 2020		March 29, 2019
North America	$	705.6	$	748.8
Europe	171.2		171.3
Asia	113.1		120.7
Middle East	112.4		97.8
Other	15.7		15.6
Totals	$	1,118.0	$	1,154.2

Our segment data disclosures for the quarter ended March 29, 2019 have been adjusted to reflect a reclassification of cost of products sold between our banana and fresh and value-added products segments as the result of a refinement in our overhead cost allocation methodology. This reclassification resulted in an increase to our banana segment gross profit of $1.3 million for the quarter ended March 29, 2019, and a corresponding decrease in our fresh and value-added products segment gross profit. On a full year basis for the year ended December 27, 2019, the reclassification results in an increase to our banana segment gross profit and corresponding decrease to our fresh and value-added products segment gross profit of $5.6 million and will be reflected accordingly in our future filings with the SEC.

12. Business Segment Data (continued)

Our segment data disclosures for the quarter ended March 29, 2019 also reflect the impact of a reclassification adjustment to correct the presentation of payroll and payroll-related costs associated with our sales personnel from cost of products sold to selling, general, and administrative expenses. The reclassification adjustment resulted in an increase of $0.5 million to gross profit in our banana segment and an increase of $1.3 million to gross profit in our fresh and value-added products segment for the quarter ended March 29, 2019. For the full year ended December 27, 2019, the adjustment results in an increase to our banana segment gross profit of $1.6 million, and an increase of $4.2 million to our fresh and value-added products segment gross profit. Refer to Note 1. "General" for further information regarding this adjustment.

The following table indicates our net sales by product and the percentage of the total:



	Quarter ended
	March 27, 2020				March 29, 2019
Fresh and value-added products:
Fresh-cut fruit	117.7		11	%	117.6		10	%
Fresh-cut vegetables	102.9		9	%	118.7		11	%
Gold pineapples	102.1		9	%	111.3		10	%
Avocados	93.5		8	%	88.6		8	%
Non-tropical fruit	62.4		6	%	61.4		5	%
Prepared foods	64.5		6	%	70.4		6	%
Melons	43.9		4	%	44.7		4	%
Tomatoes	13.6		1	%	13.5		1	%
Vegetables	39.3		3	%	41.5		3	%
Other fruit and vegetables	21.0		2	%	22.3		2	%
Total fresh and value-added products	$	660.9	59	%	$	690.0	60	%
Banana	427.0		38	%	431.5		37	%
Other products and services	30.1		3	%	32.7		3	%
Totals	$	1,118.0	100	%	$	1,154.2	100	%