Segments

12 Months Ended

Dec. 29, 2019

Segment Reporting [Abstract]

Segments

5. 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 Operating Decision Maker (the “CODM”). The Company has concluded the Chief Executive Officer, the Chief Operating Officer and the Chief Financial Officer, as a group, represent the CODM. Asset information is not provided to the CODM.

The Company believes three operating segments exist. Nonalcoholic Beverages represents the vast majority of the Company’s consolidated revenues and income from operations. The additional two 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)	2019			2018			2017
Net sales:
Nonalcoholic Beverages	$	4,694,428		$	4,512,318		$	4,206,927
All Other		345,005			358,625			301,801
Eliminations(1)		(212,884	)		(245,579	)		(221,140	)
Consolidated net sales	$	4,826,549		$	4,625,364		$	4,287,588
Income from operations:
Nonalcoholic Beverages	$	174,133		$	45,519		$	90,143
All Other		6,621			12,383			11,404
Consolidated income from operations	$	180,754		$	57,902		$	101,547
Depreciation and amortization:
Nonalcoholic Beverages	$	169,879		$	177,448		$	160,524
All Other		10,037			9,808			8,317
Consolidated depreciation and amortization	$	179,916		$	187,256		$	168,841

⁽¹⁾ 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.