20.Segments

The Company evaluates segment reporting in accordance with the FASB Accounting Standards Codification 280, Segment Reporting each reporting period, including evaluating the reporting package reviewed by the Chief Operation 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 four operating segments exist. Following the sale of BYB during the third quarter of fiscal 2015, two operating segments, Franchised Nonalcoholic Beverages and Internally-Developed Nonalcoholic Beverages (made up entirely of BYB), were 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.

The Company’s results for its two reportable segments are as follows:

	Third Quarter						First Three Quarters
(in thousands)	2016			2015			2016			2015
Net Sales:
Nonalcoholic Beverages	$	826,683		$	603,042		$	2,251,491		$	1,644,332
All Other		59,530			41,761			163,636			116,269
Eliminations*		(37,185	)		(25,997	)		(100,259	)		(73,859	)
Consolidated net sales	$	849,028		$	618,806		$	2,314,868		$	1,686,742

Gross Profit:
Nonalcoholic Beverages	$	326,725		$	236,066		$	886,384		$	654,454
All Other		21,322			16,233			59,707			45,004
Eliminations*		(20,857	)		(13,763	)		(55,296	)		(39,232	)
Consolidated gross profit	$	327,190		$	238,536		$	890,795		$	660,226

Operating Income:
Nonalcoholic Beverages	$	38,421		$	26,098		$	102,267		$	78,490
All Other		1,380			1,587			4,671			4,413
Consolidated operating income	$	39,801		$	27,685		$	106,938		$	82,903

Depreciation and Amortization:
Nonalcoholic Beverages	$	29,263		$	19,711		$	78,469		$	55,054
All Other		1,794			1,324			4,917			3,355
Consolidated depreciation and amortization	$	31,057		$	21,035		$	83,386		$	58,409

Capital Expenditures (exclusive of acquisition):
Nonalcoholic Beverages	$	33,675		$	32,886		$	94,501		$	78,364
All Other		10,989			13,829			24,868			23,303
Consolidated capital expenditures	$	44,664		$	46,715		$	119,369		$	101,667

(in thousands)	October 2, 2016			January 3, 2016			September 27, 2015
Total Assets:
Nonalcoholic Beverages	$	2,154,601		$	1,804,084		$	1,646,343
All Other		105,196			75,842			73,695
Eliminations*		(5,772	)		(33,361	)		(10,579	)
Consolidated total assets	$	2,254,025		$	1,846,565		$	1,709,459

*NOTE: The entire net sales elimination for each year presented represents 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.

Net sales by product category were as follows:

	Third Quarter				First Three Quarters
(in thousands)	2016		2015		2016		2015
Bottle/can sales*:
Sparkling beverages (carbonated)	$	455,748	$	333,643	$	1,272,673	$	958,036
Still beverages (noncarbonated, including energy products)		261,508		174,684		674,673		426,657
Total bottle/can sales		717,256		508,327		1,947,346		1,384,693

Other sales:
Sales to other Coca-Cola bottlers		58,683		46,618		169,938		133,024
Post-mix and other		73,089		63,861		197,584		169,025
Total other sales		131,772		110,479		367,522		302,049

Total net sales	$	849,028	$	618,806	$	2,314,868	$	1,686,742

*NOTE: During the second quarter of 2016, energy products were moved from the category of sparkling beverages to still beverages, which has been reflected in all periods presented. Total bottle/can sales remain unchanged in prior periods.