Acquisitions and Divestitures (Tables)

9 Months Ended

Oct. 01, 2017

2017 Acquisition [Member]

Summary of Fair Values of Acquired Assets and Assumed Liabilities as of Acquisition Date

The fair value of acquired assets and assumed liabilities of the YTD 2017 Expansion Transactions as of the acquisition dates is summarized as follows:

(in thousands)	January 2017 Expansion Transaction		March 2017 Expansion Transactions		April 2017 Expansion Transactions		Total YTD 2017 Expansion Transactions
Cash	$	107	$	211	$	103	$	421
Inventories		5,953		21,108		14,554		41,615
Prepaid expenses and other current assets		1,155		5,117		4,350		10,622
Accounts receivable from The Coca-Cola Company		1,042		1,807		1,000		3,849
Property, plant and equipment		25,708		81,638		53,818		161,164
Other assets (including deferred taxes)		886		4,363		482		5,731
Goodwill		800		8,605		9,630		19,035
Distribution agreements		9,300		18,900		8,600		36,800
Customer lists		1,350		1,500		950		3,800
Total acquired assets	$	46,301	$	143,249	$	93,487	$	283,037
Current liabilities (acquisition related contingent consideration)	$	727	$	1,921	$	227	$	2,875
Other current liabilities		324		3,760		1,186		5,270
Other liabilities (acquisition related contingent consideration)		13,408		26,260		3,543		43,211
Other liabilities		239		2,604		626		3,469
Total assumed liabilities	$	14,698	$	34,545	$	5,582	$	54,825

2016 Acquisition [Member]

Summary of Fair Values of Acquired Assets and Assumed Liabilities as of Acquisition Date

The fair value of acquired assets and assumed liabilities of the 2016 Expansion Transactions as of the acquisition dates is summarized as follows:

(in thousands)	January 2016 Expansion Transactions		April 1, 2016 Expansion Transaction		April 29, 2016 Expansion Transactions		October 2016 Expansion Transactions		Total 2016 Expansion Transactions
Cash	$	179	$	219	$	161	$	150	$	709
Inventories		10,159		3,748		13,850		18,513		46,270
Prepaid expenses and other current assets		2,775		1,945		3,774		4,228		12,722
Accounts receivable from The Coca-Cola Company		1,121		1,162		1,126		1,327		4,736
Property, plant and equipment		46,149		54,135		57,738		67,943		225,965
Other assets (including deferred taxes)		2,351		1,541		5,514		682		10,088
Goodwill		9,396		1,962		8,368		8,343		28,069
Distribution agreements		750		-		22,000		63,900		86,650
Customer lists		550		-		1,450		2,600		4,600
Total acquired assets	$	73,430	$	64,712	$	113,981	$	167,686	$	419,809
Current liabilities (acquisition related contingent consideration)	$	361	$	742	$	1,307	$	3,318	$	5,728
Other current liabilities		591		4,231		5,482		8,513		18,817
Accounts payable to The Coca-Cola Company		650		-		-		-		650
Other liabilities (acquisition related contingent consideration)		6,144		23,924		35,561		57,066		122,695
Other liabilities		-		266		2,635		573		3,474
Total assumed liabilities	$	7,746	$	29,163	$	44,985	$	69,470	$	151,364

2016 and 2017 Acquisitions [Member]

Schedule Of Condensed Consolidated Statement of Operations

The financial results of the YTD 2017 Expansion Transactions and the 2016 Expansion Transactions have been included in the Company’s consolidated condensed financial statements from their respective acquisition dates. These Expansion Transactions contributed the following amounts to the Company’s consolidated condensed statement of operations:

	Third Quarter				First Three Quarters
(in thousands)	2017		2016		2017		2016
Net sales from 2016 Expansion Transactions	$	257,238	$	174,420	$	761,653	$	372,550
Net sales from YTD 2017 Expansion Transactions		221,034		-		454,174		-
Total impact to net sales	$	478,272	$	174,420	$	1,215,827	$	372,550
Operating income from 2016 Expansion Transactions	$	7,153	$	2,512	$	16,504	$	17,220
Operating income from YTD 2017 Expansion Transactions		3,176		-		13,595		-
Total impact to income from operations	$	10,329	$	2,512	$	30,099	$	17,220

Schedule of Unaudited Pro Forma Information

The following tables represent the Company’s unaudited pro forma net sales and unaudited pro forma income from operations for the YTD 2017 Expansion Transactions and the 2016 Expansion Transactions.

	Third Quarter				First Three Quarters
(in thousands)	2017		2016		2017		2016
Net sales as reported	$	1,162,526	$	849,028	$	3,197,519	$	2,314,868
Pro forma adjustments (unaudited)		-		299,639		215,242		1,066,001
Net sales pro forma (unaudited)	$	1,162,526	$	1,148,667	$	3,412,761	$	3,380,869

	Third Quarter				First Three Quarters
(in thousands)	2017		2016		2017		2016
Income from operations as reported	$	36,130	$	39,801	$	97,051	$	106,938
Pro forma adjustments (unaudited)		-		11,073		9,328		49,761
Income from operations pro forma (unaudited)	$	36,130	$	50,874	$	106,379	$	156,699