SEGMENT REPORTING

9 Months Ended

Oct. 10, 2015

Segment Reporting [Abstract]

SEGMENT REPORTING

16. SEGMENT REPORTING

The company’s DSD Segment primarily produces fresh packaged bread, rolls, tortillas, and snack products and the Warehouse Segment produces fresh and frozen bread and rolls and snack products.

The company purchased DKB, described in Note 3, Acquisition, above, on September 12, 2015.  DKB is included in our DSD Segment.  Their results from operations and impact on our total assets are included in the tables below.

During the fourth quarter of fiscal 2014, we revised net sales. Historically, certain immaterial discounts had been recorded as an expense to selling, distribution and administrative costs. These discounts are now recorded as contra revenue. All prior period information has been revised to reflect this change.  See Note 5, Financial Statement Revisions, for details about the impact of these revisions.

The company evaluates each segment’s performance based on income or loss before interest and income taxes, excluding unallocated expenses and charges which the company’s management deems to be an overall corporate cost or a cost not reflective of the segment’s core operating businesses. Information regarding the operations in these reportable segments is as follows (amounts in thousands):

	For the Twelve Weeks Ended						For the Forty Weeks Ended
	October 10, 2015			October 4, 2014			October 10, 2015			October 4, 2014
Sales:
DSD Segment	$	761,006		$	727,614		$	2,513,397		$	2,472,303
Warehouse Segment		169,190			159,502			560,935			558,178
Eliminations:
Sales from Warehouse Segment to DSD Segment		(30,155	)		(28,416	)		(105,192	)		(99,870	)
Sales from DSD Segment to Warehouse Segment		(14,739	)		(13,768	)		(48,998	)		(58,971	)
	$	885,302		$	844,932		$	2,920,142		$	2,871,640
Depreciation and amortization:
DSD Segment	$	25,928		$	26,015		$	88,103		$	87,286
Warehouse Segment		3,549			3,469			11,920			11,649
Unallocated corporate costs (1)		(58	)		3			(319	)		(249	)
	$	29,419		$	29,487		$	99,704		$	98,686
Income (loss) from operations:
DSD Segment	$	73,803		$	67,740		$	251,068		$	226,935
Warehouse Segment		11,393			11,833			41,667			39,402
Unallocated corporate costs (1)		(15,445	)		(9,192	)		(46,405	)		(32,374	)
	$	69,751		$	70,381		$	246,330		$	233,963
Interest expense	$	(5,992	)	$	(6,285	)	$	(20,349	)	$	(21,902	)
Interest income	$	5,114		$	4,875		$	17,029		$	15,586
Income before income taxes	$	68,873		$	68,971		$	243,010		$	227,647

Assets:	October 10, 2015		January 3, 2015
DSD Segment	$	2,431,315	$	2,094,047
Warehouse Segment		206,580		201,240
Other (2)		114,348		113,687
Total assets	$	2,752,243	$	2,408,974

_________________

(1) Represents the company’s corporate head office amounts.

(2)     Represents the company’s corporate head office assets, including primarily cash and cash equivalents, deferred taxes and       deferred financing costs.

Sales by product category in each reportable segment are as follows for the twelve and forty weeks ended October 10, 2015 and October 4, 2014 (amounts in thousands):

	For the Twelve Weeks Ended						For the Twelve Weeks Ended
	October 10, 2015						October 4, 2014
	DSD Segment		Warehouse Segment		Total		DSD Segment		Warehouse Segment		Total
Branded Retail	$	471,353	$	29,397	$	500,750	$	448,205	$	29,112	$	477,317
Store Branded Retail		108,733		28,984		137,717		108,210		27,727		135,937
Non-retail and Other		166,181		80,654		246,835		157,431		74,247		231,678
Total	$	746,267	$	139,035	$	885,302	$	713,846	$	131,086	$	844,932

	For the Forty Weeks Ended						For the Forty Weeks Ended
	October 10, 2015						October 4, 2014
	DSD Segment		Warehouse Segment		Total		DSD Segment		Warehouse Segment		Total
Branded Retail	$	1,555,354	$	100,153	$	1,655,507	$	1,510,823	$	100,047	$	1,610,870
Store Branded Retail		358,404		95,502		453,906		376,195		97,080		473,275
Non-retail and Other		550,641		260,088		810,729		526,314		261,181		787,495
Total	$	2,464,399	$	455,743	$	2,920,142	$	2,413,332	$	458,308	$	2,871,640