Segment Information

6 Months Ended

Jul. 02, 2022

Segment Reporting [Abstract]

Segment Information [Text Block]

12. 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) and 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 and two quarters ended July 2, 2022 and July 3, 2021 were as follows:

			Quarter ended		Two quarters ended
	July 2, 2022		July 3, 2021		July 2, 2022		July 3, 2021
	$		$		$		$
Revenues from external customers
Plant-Based Foods and Beverages	145,912		111,359		281,423		230,810
Fruit-Based Foods and Beverages	97,619		90,914		202,281		179,103
Total revenues from external customers	243,531		202,273		483,704		409,913
Segment operating income (loss)
Plant-Based Foods and Beverages	12,196		8,641		20,292		21,958
Fruit-Based Foods and Beverages	3,211		(1,447)		3,995		(3,341)
Corporate Services	(7,298	)	(5,471	)	(12,262	)	(10,809	)
Total segment operating income	8,109		1,723		12,025		7,808
Other expense, net (see note 8)	(1,540	)	(4,661	)	(1,827	)	(6,276	)
Interest expense, net	(3,132	)	(1,631	)	(5,662	)	(3,291	)
Earnings (loss) from continuing operations before
income taxes	3,437		(4,569	)	4,536		(1,759	)

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	Two quarters ended
	July 2, 2022	July 3, 2021	July 2, 2022	July 3, 2021
	$	$	$	$
Plant-Based Foods and Beverages
Beverages and broths	114,898	87,494	223,520	182,980
Plant-based ingredients	9,712	7,578	19,438	15,422
Sunflower and roasted snacks	21,302	16,287	38,465	32,408
Total Plant-Based Foods and Beverages	145,912	111,359	281,423	230,810
Fruit-Based Foods and Beverages
Frozen fruit and fruit-based ingredients	74,164	75,076	157,657	146,890
Fruit snacks and smoothie bowls	23,455	15,838	44,624	32,213
Total Fruit-Based Foods and Beverages	97,619	90,914	202,281	179,103
Total revenues	243,531	202,273	483,704	409,913

Segment Assets

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

	July 2, 2022	January 1, 2022
	$	$
Plant-Based Foods and Beverages	370,417	301,065
Fruit-Based Foods and Beverages	378,798	368,976
Corporate Services	83,116	85,078
Assets held for sale (note 3)	11,591	-
Total assets	843,922	755,119

Segment Depreciation and Amortization

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

		Quarter ended	Two quarters ended
	July 2, 2022	July 3, 2021	July 2, 2022	July 3, 2021
	$	$	$	$
Plant-Based Foods and Beverages	4,572	3,881	9,006	7,015
Fruit-Based Foods and Beverages	3,380	3,861	7,061	7,630
Corporate Services	1,420	1,168	2,718	2,308
Total depreciation and amortization	9,372	8,910	18,785	16,953