24. Segments

The Company evaluates segment reporting in accordance with ASC 280, Segment Reporting each reporting period, including evaluating the reporting package reviewed by the Chief Operating Decision Maker (“CODM”). The Company has concluded the Chief Executive Officer, Chief Operating Officer, and Chief Financial Officer, as a group, represent the CODM. The Company believes five operating segments exist. Two operating segments, Franchised Nonalcoholic Beverages and Internally-Developed Nonalcoholic Beverages, have been aggregated due to their similar economic characteristics as well as the similarity of products, production processes, types of customers, methods of distribution, and nature of the regulatory environment. This combined segment, Nonalcoholic Beverages, represents the vast majority of the Company’s consolidated revenues, operating income, and assets. The remaining three operating segments do not meet the quantitative thresholds for separate reporting, either individually or in the aggregate. As a result, these three operating segments have been combined into an “All Other” reportable segment.

During 2014, the Company acquired distribution businesses and exclusive distribution rights in new territories in eastern Tennessee. With the expansion into these territories as well as the prospects for future territory expansion to occur in 2015, the Company changed the manner in which it manages its business and allocates resources in the fourth quarter of 2014, specifically with regard to potential opportunities to provide transportation services to both related and unrelated third parties in these new geographic areas. As a result, the Company determined its transportation services constituted a separate operating segment and is included in the “All Other” segment.

The Company’s segment results are as follows:


	Fiscal Year
In Thousands	2014			2013			2012
Net Sales:
Nonalcoholic Beverages	$	1,710,040		$	1,613,309		$	1,592,289
All Other		123,194			108,224			99,516
Eliminations*		(86,865	)		(80,202	)		(77,372	)

Consolidated	$	1,746,369		$	1,641,331		$	1,614,433

Operating Income:
Nonalcoholic Beverages	$	82,297		$	66,084		$	81,333
All Other		3,670			7,563			7,353

Consolidated	$	85,967		$	73,647		$	88,686

Depreciation and Amortization:
Nonalcoholic Beverages	$	58,103		$	56,266		$	58,797
All Other		3,027			2,405			2,787

Consolidated	$	61,130		$	58,671		$	61,584

Capital Expenditures:
Nonalcoholic Beverages	$	69,635		$	47,241		$	57,421
All Other		16,739			6,923			4,049

Consolidated	$	86,374		$	54,164		$	61,470

Total Assets:
Nonalcoholic Beverages	$	1,399,057		$	1,252,286
All Other		44,629			36,671
Eliminations		(10,610	)		(12,801	)

Consolidated	$	1,433,076		$	1,276,156

*	NOTE - The entire net sales elimination for each year presented represent net sales from the All Other segment to the Nonalcoholic Beverages segment. Sales between these segments are either recognized at fair market value or cost depending on the nature of the transaction.