23.Segments

The Company evaluates segment reporting in accordance with FASB Accounting Standards Codification (“ASC”) 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. 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, and therefore have been combined into “All Other.”

The Company’s segment results are as follows:

	Third Quarter						First Three Quarters
(in thousands)	2017			2016			2017			2016
Net sales:
Nonalcoholic Beverages	$	1,103,017		$	826,683		$	3,043,587		$	2,251,491
All Other		120,660			59,530			317,121			163,636
Eliminations⁽¹⁾		(61,151	)		(37,185	)		(163,189	)		(100,259	)
Consolidated net sales	$	1,162,526		$	849,028		$	3,197,519		$	2,314,868

Income from operations:
Nonalcoholic Beverages	$	32,525		$	38,421		$	86,228		$	102,267
All Other		3,605			1,380			10,823			4,671
Consolidated income from operations	$	36,130		$	39,801		$	97,051		$	106,938

Depreciation and amortization:
Nonalcoholic Beverages	$	41,151		$	29,263		$	114,166		$	78,469
All Other		2,095			1,794			6,127			4,917
Consolidated depreciation and amortization	$	43,246		$	31,057		$	120,293		$	83,386

Capital expenditures (exclusive of acquisitions):
Nonalcoholic Beverages	$	33,675		$	33,675		$	99,021		$	94,501
All Other		4,969			10,989			13,952			24,868
Consolidated capital expenditures (exclusive of acquisitions)	$	38,644		$	44,664		$	112,973		$	119,369

(in thousands)	October 1, 2017			January 1, 2017
Total assets:
Nonalcoholic Beverages	$	2,797,485		$	2,349,284
All Other		118,862			105,785
Eliminations⁽¹⁾		(5,251	)		(5,585	)
Consolidated total assets	$	2,911,096		$	2,449,484

⁽¹⁾

The entire net sales elimination for each period presented 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. Asset eliminations relate to eliminations of intercompany receivables and payables between the Nonalcoholic Beverages and All Other segments.

Net sales by product category were as follows:

	Third Quarter				First Three Quarters
(in thousands)	2017		2016		2017		2016
Bottle/can sales⁽¹⁾:
Sparkling beverages (carbonated)	$	582,710	$	455,748	$	1,670,093	$	1,273,277
Still beverages (noncarbonated, including energy products)		384,495		261,508		1,009,508		674,069
Total bottle/can sales		967,205		717,256		2,679,601		1,947,346

Other sales:
Sales to other Coca-Cola bottlers		104,619		58,683		274,317		169,938
Post-mix and other		90,702		73,089		243,601		197,584
Total other sales		195,321		131,772		517,918		367,522

Total net sales	$	1,162,526	$	849,028	$	3,197,519	$	2,314,868

⁽¹⁾

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.