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Segments
 12 Months Ended
Dec. 30, 2018
Segment Reporting [Abstract]  
Segments

26.

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. Asset information is not provided to the CODM. Effective December 31, 2018, the Company appointed a new Chief Operating Officer and Chief Financial Officer. In addition, the Company completed a four-year System Transformation in October 2017 and continues to integrate territories acquired in the System Transformation into its operations. In conjunction with these leadership changes and ongoing integration of operations, management continues to assess whether changes are necessary to the Company’s reportable segments.

 

The Company believes four operating segments exist. Nonalcoholic Beverages represents the vast majority of the Company’s consolidated revenues and income from operations. The additional 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:

 

 

 

Fiscal Year

 

(in thousands)

 

2018

 

 

2017

 

 

2016

 

Net sales:

 

 

 

 

 

 

 

 

 

 

 

 

Nonalcoholic Beverages

 

$

4,512,318

 

 

$

4,206,927

 

 

$

3,034,654

 

All Other

 

 

358,625

 

 

 

301,801

 

 

 

234,732

 

Eliminations(1)

 

 

(245,579

)

 

 

(221,140

)

 

 

(139,241

)

Consolidated net sales

 

$

4,625,364

 

 

$

4,287,588

 

 

$

3,130,145

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from operations:

 

 

 

 

 

 

 

 

 

 

 

 

Nonalcoholic Beverages

 

$

45,519

 

 

$

90,143

 

 

$

126,570

 

All Other

 

 

12,383

 

 

 

11,404

 

 

 

4,629

 

Consolidated income from operations

 

$

57,902

 

 

$

101,547

 

 

$

131,199

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Depreciation and amortization:

 

 

 

 

 

 

 

 

 

 

 

 

Nonalcoholic Beverages

 

$

177,448

 

 

$

160,524

 

 

$

109,716

 

All Other

 

 

9,808

 

 

 

8,317

 

 

 

6,907

 

Consolidated depreciation and amortization

 

$

187,256

 

 

$

168,841

 

 

$

116,623

 

 

(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.