Segments

12 Months Ended

Dec. 31, 2020

Segment Reporting [Abstract]

Segments

Segments

The Company evaluates segment reporting in accordance with the FASB Accounting Standards Codification Topic 280, Segment Reporting, each reporting period, including evaluating the reporting package reviewed by the Chief Operating Decision Maker (the “CODM”). The Company has concluded the Chief Executive Officer, the Chief Operating Officer and the Chief Financial Officer, as a group, represent the CODM. Asset information is not provided to the CODM.

The Company believes three operating segments exist. Nonalcoholic Beverages represents the vast majority of the Company’s consolidated net sales and income from operations. The additional two operating segments do not meet the quantitative thresholds for separate reporting, either individually or in the aggregate, and, therefore, have been combined into “All Other.” The Company’s segment results are as follows:

	Fiscal Year
(in thousands)	2020		2019		2018
Net sales:
Nonalcoholic Beverages	$	4,879,170	$	4,694,428	$	4,512,318
All Other	332,728		345,005		358,625
Eliminations(1)	(204,541)		(212,884)		(245,579)
Consolidated net sales	$	5,007,357	$	4,826,549	$	4,625,364
Income from operations:
Nonalcoholic Beverages	$	324,716	$	174,133	$	45,519
All Other	(11,338)		6,621		12,383
Consolidated income from operations	$	313,378	$	180,754	$	57,902

	Fiscal Year
(in thousands)	2020		2019		2018
Depreciation and amortization:
Nonalcoholic Beverages	$	167,355	$	169,879	$	177,448
All Other	11,662		10,037		9,808
Consolidated depreciation and amortization	$	179,017	$	179,916	$	187,256

(1)The entire net sales elimination represents net sales from the All Other segment to the Nonalcoholic Beverages segment. Sales between these segments are recognized at either fair market value or cost depending on the nature of the transaction.