Segment Information

3 Months Ended

Apr. 02, 2022

Segment Reporting [Abstract]

Segment Information [Text Block]

11. Segment Information

The composition of the Company's operating segments is as follows:

• Plant-Based Foods and Beverages includes plant-based beverages and liquid and powder ingredients (utilizing oat, almond, soy, coconut, rice, hemp, and other bases), as well as broths, teas, and nutritional beverages. In addition, Plant-Based Foods and Beverages includes packaged dry- and oil-roasted inshell sunflower and sunflower kernels, and the processing and sale of raw sunflower inshell and kernel for food and feed applications.

• Fruit-Based Foods and Beverages includes individually quick frozen ("IQF") fruit for retail (including strawberries, blueberries, mango, pineapple, and other berries and blends), IQF and bulk frozen fruit for foodservice (including toppings, purées, and smoothies). In addition, Fruit-Based Foods and Beverages includes fruit snacks, including bars, twists, ropes, and bite-sized varieties, and fruit smoothie bowls.

Corporate Services provides a variety of management, financial, information technology, treasury, and administration services to each of the Company's operating segments.

When reviewing the operating results of the Company's operating segments, management uses segment revenues from external customers and segment operating income/loss to assess performance and allocate resources. Total segment operating income/loss includes general and administrative expenses incurred by Corporate Services and excludes other income/expense items. In addition, interest on corporate debt and income taxes are not allocated to the operating segments.

Segment Revenues and Operating Income

Reportable segment operating results for the quarters ended April 2, 2022 and April 3, 2021 were as follows:

	Quarter ended
	April 2, 2022		April 3, 2021
	$		$
Revenues from external customers
Plant-Based Foods and Beverages	135,511		119,451
Fruit-Based Foods and Beverages	104,662		88,189
Total revenues from external customers	240,173		207,640
Segment operating income (loss)
Plant-Based Foods and Beverages	8,096		13,317
Fruit-Based Foods and Beverages	784		(1,894	)
Corporate Services	(4,964	)	(5,338	)
Total segment operating income	3,916		6,085
Other expense, net (see note 7)	(287	)	(1,615	)
Interest expense, net	(2,530	)	(1,660	)
Earnings from continuing operations before income taxes	1,099		2,810

Disaggregation of Revenue

The following table presents a disaggregation of revenues by operating segment based on categories used by the Company to evaluate sales performance:

	Quarter ended
	April 2, 2022	April 3, 2021
	$	$
Plant-Based Foods and Beverages
Beverages and broths	108,622	95,486
Plant-based ingredients	9,726	7,844
Sunflower and roasted snacks	17,163	16,121
Total Plant-Based Foods and Beverages	135,511	119,451
Fruit-Based Foods and Beverages
Frozen fruit and fruit-based ingredients	83,493	71,814
Fruit snacks and smoothie bowls	21,169	16,375
Total Fruit-Based Foods and Beverages	104,662	88,189
Total revenues	240,173	207,640

Segment Assets

Total assets by operating segment as at April 2, 2022 and January 1, 2022 were as follows:

	April 2, 2022	January 1, 2022
	$	$
Plant-Based Foods and Beverages	337,151	301,065
Fruit-Based Foods and Beverages	364,148	368,976
Corporate Services	84,516	85,078
Total assets	785,815	755,119

Segment Depreciation and Amortization

Depreciation and amortization by operating segment for the quarters ended April 2, 2022 and April 3, 2021 was as follows:

	Quarter ended
	April 2, 2022	April 3, 2021
	$	$
Plant-Based Foods and Beverages	4,434	3,134
Fruit-Based Foods and Beverages	3,681	3,769
Corporate Services	1,298	1,140
Total depreciation and amortization	9,413	8,043