Business Segment Data

9 Months Ended

Sep. 25, 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, fresh-cut fruit, fresh-cut vegetables, melons, vegetables, non-tropical fruit (including grapes, apples, citrus, blueberries, strawberries, pears, peaches, plums, nectarines, cherries and kiwis), other fruit and vegetables, avocados, and prepared foods (including prepared fruit and vegetables, juices, other beverages, and 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
	September 25, 2020				September 27, 2019
Segments:	Net Sales		Gross Profit		Net Sales		Gross Profit
Fresh and value-added products	$	600.6	$	54.2	$	652.9	$	53.3
Banana	361.8		10.8		385.8		18.6
Other products and services	27.3		2.3		31.5		4.3
Totals	$	989.7	$	67.3	$	1,070.2	$	76.2

	Nine months ended
	September 25, 2020				September 27, 2019
Segments:	Net Sales		Gross Profit		Net Sales		Gross Profit
Fresh and value-added products	$	1,897.8	$	133.8	$	2,107.2	$	172.3
Banana	1,218.4		74.3		1,257.3		90.2
Other products and services	83.8		6.4		99.3		6.4
Totals	$	3,200.0	$	214.5	$	3,463.8	$	268.9


	Quarter ended				Nine months ended
Net Sales by geographic region:	September 25, 2020		September 27, 2019		September 25, 2020		September 27, 2019
North America	$	619.4	$	720.8	$	1,992.0	$	2,286.4
Europe	150.0		140.4		485.2		482.9
Asia	107.9		99.6		355.3		351.4
Middle East	102.7		103.4		329.3		310.5
Other	9.7		6.0		38.2		32.6
Totals	$	989.7	$	1,070.2	$	3,200.0	$	3,463.8

12. Business Segment Data (continued)

Our segment data disclosures for the quarter and nine months ended September 27, 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 $1.7 million for the quarter ended September 27, 2019 and $4.4 million for the nine months ended September 27, 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.

Our segment data disclosures for the quarter ended September 27, 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 $0.4 million to gross profit in our banana segment and an increase of $1.1 million to gross profit in our fresh and value-added products segment for the quarter ended September 27, 2019. For the nine months ended September 27, 2019, the reclassification adjustment resulted in an increase of $1.3 million to gross profit in our banana segment and an increase of $3.3 million to gross profit in our fresh and value-added products segment. 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 (U.S. dollars in millions):


	Quarter ended								Nine months ended
	September 25, 2020				September 27, 2019				September 25, 2020				September 27, 2019

Fresh and value-added products:
Fresh-cut fruit	$	130.4	13	%	$	144.5	13	%	$	358.6	11	%	$	408.2	12	%
Fresh-cut vegetables	95.6		10	%	122.0		12	%	284.8		9	%	360.0		10	%
Gold pineapples	115.9		12	%	102.0		10	%	331.9		10	%	339.4		10	%
Avocados	76.5		8	%	98.0		9	%	263.5		8	%	311.6		9	%
Non-tropical fruit	38.1		4	%	32.2		3	%	175.8		6	%	163.1		5	%
Prepared foods	67.5		7	%	70.4		7	%	198.7		6	%	210.6		6	%
Melons	2.9		—	%	5.1		—	%	66.8		2	%	74.8		2	%
Tomatoes	8.6		1	%	12.2		1	%	32.4		1	%	41.1		1	%
Vegetables	41.7		4	%	45.6		4	%	116.1		4	%	130.0		4	%
Other fruit and vegetables	23.4		2	%	20.9		2	%	69.2		2	%	68.4		2	%
Total fresh and value-added products	600.6		61	%	652.9		61	%	1,897.8		59	%	2,107.2		61	%
Banana	361.8		36	%	385.8		36	%	1,218.4		38	%	1,257.3		36	%
Other products and services	27.3		3	%	31.5		3	%	83.8		3	%	99.3		3	%
Totals	$	989.7	100	%	$	1,070.2	100	%	$	3,200.0	100	%	$	3,463.8	100	%