Segment Information

9 Months Ended

Oct. 01, 2022

Segment Reporting [Abstract]

Segment Information [Text Block]

12. Segment Information

The composition of the Company's operating and reportable 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, the held-for-sale sunflower business (see note 3) packages dry- and oil-roasted inshell sunflower and sunflower kernels, and processes 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

Operating segment results for the quarters and three quarters ended October 1, 2022 and October 2, 2021 were as follows:

	Quarter ended				Three quarters ended
	October 1, 2022		October 2, 2021		October 1, 2022		October 2, 2021
	$		$		$		$
Revenues from external customers
Plant-Based Foods and Beverages	137,726		114,870		419,149		345,680
Fruit-Based Foods and Beverages	91,939		83,609		294,220		262,712
Total revenues from external customers	229,665		198,479		713,369		608,392
Segment operating income (loss)
Plant-Based Foods and Beverages	8,814		8,056		29,106		30,014
Fruit-Based Foods and Beverages	2,870		(3,517	)	6,865		(6,858	)
Corporate Services	(4,040	)	(618	)	(16,302	)	(11,427	)
Total segment operating income	7,644		3,921		19,669		11,729
Other expense, net (see note 8)	(20,200	)	(1,172	)	(22,027	)	(7,448	)
Interest expense, net	(4,342	)	(2,854	)	(10,004	)	(6,145	)
Loss from continuing operations before income taxes	(16,898	)	(105	)	(12,362	)	(1,864	)

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		Three quarters ended
	October 1, 2022	October 2, 2021	October 1, 2022	October 2, 2021
	$	$	$	$
Plant-Based Foods and Beverages
Beverages and broths	112,785	91,385	336,305	274,365
Plant-based ingredients	7,632	7,383	27,070	22,805
Sunflower and roasted snacks (see note 3)	17,309	16,102	55,774	48,510
Total Plant-Based Foods and Beverages	137,726	114,870	419,149	345,680
Fruit-Based Foods and Beverages
Frozen fruit and fruit-based ingredients	68,333	68,029	225,990	214,919
Fruit snacks and smoothie bowls	23,606	15,580	68,230	47,793
Total Fruit-Based Foods and Beverages	91,939	83,609	294,220	262,712
Total revenues	229,665	198,479	713,369	608,392

Segment Assets

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

	October 1, 2022	January 1, 2022
	$	$
Plant-Based Foods and Beverages	362,003	301,065
Fruit-Based Foods and Beverages	362,167	368,976
Corporate Services	118,629	85,078
Assets held for sale (see note 3)	16,151	-
Total assets	858,950	755,119

Segment Depreciation and Amortization

Depreciation and amortization by operating segment for the quarters and three quarters ended October 1, 2022 and October 2, 2021 was as follows:

	Quarter ended		Three quarters ended
	October 1, 2022	October 2, 2021	October 1, 2022	October 2, 2021
	$	$	$	$
Plant-Based Foods and Beverages	4,750	3,951	13,756	10,966
Fruit-Based Foods and Beverages	3,541	3,625	10,602	11,255
Corporate Services	1,439	1,261	4,157	3,569
Total depreciation and amortization	9,730	8,837	28,515	25,790