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Segments (Tables)
 9 Months Ended
Sep. 30, 2018
Segment Reporting [Abstract]  
Summary of Financial Information by Segment

The Company’s segment results are as follows:

 

 

 

Third Quarter

 

 

First Three Quarters

 

(in thousands)

 

2018

 

 

2017

 

 

2018

 

 

2017

 

Net sales:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nonalcoholic Beverages(1)

 

$

1,180,212

 

 

$

1,142,238

 

 

$

3,427,492

 

 

$

3,139,974

 

All Other(1)

 

 

93,493

 

 

 

81,439

 

 

 

273,490

 

 

 

220,734

 

Eliminations(2)

 

 

(62,044

)

 

 

(61,151

)

 

 

(189,985

)

 

 

(163,189

)

Consolidated net sales

 

$

1,211,661

 

 

$

1,162,526

 

 

$

3,510,997

 

 

$

3,197,519

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from operations:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nonalcoholic Beverages

 

$

39,361

 

 

$

33,867

 

 

$

32,705

 

 

$

90,254

 

All Other

 

 

5,043

 

 

 

3,605

 

 

 

12,381

 

 

 

10,823

 

Consolidated income from operations

 

$

44,404

 

 

$

37,472

 

 

$

45,086

 

 

$

101,077

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Depreciation and amortization:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nonalcoholic Beverages

 

$

44,050

 

 

$

41,151

 

 

$

133,095

 

 

$

114,166

 

All Other

 

 

2,539

 

 

 

2,095

 

 

 

7,401

 

 

 

6,127

 

Consolidated depreciation and amortization

 

$

46,589

 

 

$

43,246

 

 

$

140,496

 

 

$

120,293

 

 

 

(1)

In order to correct an error in the prior year segment presentation, the Company revised net sales by $39.2 million for the third quarter of 2017 and $96.4 million for the first three quarters of 2017 to reflect sales in the Nonalcoholic Beverages segment which were previously attributed to All Other. Total net sales remain unchanged in prior periods and these revisions were not considered material to the prior periods presented.

 

(2)

The entire net sales elimination for each period presented represents net sales from All Other 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.