Segment Reporting

6 Months Ended

Jul. 02, 2022

Segment Reporting [Abstract]

Segment Reporting

Segment Reporting

Our broad portfolio of products includes bottled water, water dispensers, self-service refill drinking water, filtration units, premium spring, sparkling and flavored water, mineral water, and coffee.

During the second quarter of 2022, we reviewed and realigned our reporting segments to reflect how the business will be managed and results will be evaluated. Following such review, certain of our businesses previously included in the Rest of World segment were realigned between the Europe reporting segment and the Other category. Our two reporting segments are as follows: North America (which includes our DSS, Aquaterra, Mountain Valley and Legacy Primo businesses) and Europe (which includes our Eden Europe, Decantae and Fonthill businesses). The Other category includes our Eden Israel, Aimia and Farrers businesses, as well as our corporate oversight function and other miscellaneous expenses. Segment reporting results have been recast to reflect these changes for all periods presented.

(in millions of U.S. dollars)	North America		Europe		Other		Eliminations		Total
For the Three Months Ended July 2, 2022
Revenue, net	$	436.7	$	69.9	$	64.8	$	—	$	571.4
Depreciation and amortization	44.3		10.1		5.8		—		60.2
Operating income (loss)	48.3		(29.1)		(12.6)		—		6.6
Additions to property, plant and equipment	35.7		6.9		4.0		—		46.6
For the Six Months Ended July 2, 2022
Revenue, net	$	833.8	$	134.2	$	129.5	$	—	$	1,097.5
Depreciation and amortization	89.6		19.9		11.9		—		121.4
Operating income (loss)	76.6		(32.7)		(22.0)		—		21.9
Additions to property, plant and equipment	62.3		13.1		9.8		—		85.2

(in millions of U.S. dollars)	North America		Europe		Other		Eliminations		Total
For the Three Months Ended July 3, 2021
Revenue, net1	$	396.7	$	64.3	$	65.4	$	(0.3)	$	526.1
Depreciation and amortization	36.5		9.9		5.6		—		52.0
Operating income (loss)	40.1		(1.6)		(6.9)		—		31.6
Additions to property, plant and equipment	24.1		6.3		4.4		—		34.8
For the Six Months Ended July 3, 2021
Revenue, net1	$	762.2	$	119.9	$	123.3	$	(0.9)	$	1,004.5
Depreciation and amortization	74.3		19.6		11.2		—		105.1
Operating income (loss)	66.2		(5.0)		(16.5)		—		44.7
Additions to property, plant and equipment	44.3		11.3		6.2		—		61.8

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1 Intersegment revenue between the Other category and the Europe reporting segment was $0.3 million for three months ended July 3, 2021 and $0.9 million for the six months ended July 3, 2021.

Revenues by channel by reporting segment were as follows:

	For the Three Months Ended July 2, 2022
(in millions of U.S. dollars)	North America		Europe		Other		Eliminations		Total
Revenue, net
Water Direct/Water Exchange	$	321.1	$	53.7	$	11.7	$	—	$	386.5
Water Refill/Water Filtration	47.3		8.2		0.7		—		56.2
Other Water	22.2		0.4		21.5		—		44.1
Water Dispensers	18.5		—		—		—		18.5
Other	27.6		7.6		30.9		—		66.1
Total	$	436.7	$	69.9	$	64.8	$	—	$	571.4

	For the Six Months Ended July 2, 2022
(in millions of U.S. dollars)	North America		Europe		Other		Eliminations		Total
Revenue, net
Water Direct/Water Exchange	$	599.4	$	101.9	$	22.5	$	—	$	723.8
Water Refill/Water Filtration	89.5		16.4		1.2		—		107.1
Other Water	56.2		0.8		37.5		—		94.5
Water Dispensers	32.7		—		—		—		32.7
Other	56.0		15.1		68.3		—		139.4
Total	$	833.8	$	134.2	$	129.5	$	—	$	1,097.5

	For the Three Months Ended July 3, 2021
(in millions of U.S. dollars)	North America		Europe		Other		Eliminations1		Total
Revenue, net
Water Direct/Water Exchange	$	264.9	$	47.7	$	10.4	$	—	$	323.0
Water Refill/Water Filtration	45.1		7.8		0.2		—		53.1
Other Water	42.2		0.4		22.0		—		64.6
Water Dispensers	17.6		—		—		—		17.6
Other	26.9		8.4		32.8		(0.3)		67.8
Total	$	396.7	$	64.3	$	65.4	$	(0.3)	$	526.1

	For the Six Months Ended July 3, 2021
(in millions of U.S. dollars)	North America		Europe		Other		Eliminations1		Total
Revenue, net
Water Direct/Water Exchange	$	503.7	$	88.0	$	18.9	$	—	$	610.6
Water Refill/Water Filtration	90.2		15.7		0.2		—		106.1
Other Water	83.1		0.6		37.2		—		120.9
Water Dispensers	32.6		—		—		—		32.6
Other	52.6		15.6		67.0		(0.9)		134.3
Total	$	762.2	$	119.9	$	123.3	$	(0.9)	$	1,004.5

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1    Intersegment revenue between the Other category and the Europe reporting segment was $0.3 million for three months ended July 3, 2021 and $0.9 million for the six months ended July 3, 2021.