Segment Reporting

9 Months Ended

Oct. 01, 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 October 1, 2022
Revenue, net	$	446.8	$	71.4	$	66.4	$	—	$	584.6
Depreciation and amortization	44.2		9.5		5.9		—		59.6
Operating income (loss)	52.6		5.1		(12.7)		—		45.0
Additions to property, plant and equipment	54.8		8.4		6.8		—		70.0
For the Nine Months Ended October 1, 2022
Revenue, net	$	1,280.6	$	205.6	$	195.9	$	—	$	1,682.1
Depreciation and amortization	133.8		29.4		17.8		—		181.0
Operating income (loss)	129.2		(27.6)		(34.7)		—		66.9
Additions to property, plant and equipment	117.1		21.5		16.6		—		155.2

(in millions of U.S. dollars)	North America		Europe		Other		Eliminations		Total
For the Three Months Ended October 2, 2021
Revenue, net1	$	413.3	$	67.2	$	70.4	$	(0.1)	$	550.8
Depreciation and amortization	37.8		9.8		5.7		—		53.3
Operating income (loss)	48.6		1.6		(8.0)		—		42.2
Additions to property, plant and equipment	27.1		7.6		2.8		—		37.5
For the Nine Months Ended October 2, 2021
Revenue, net1	$	1,175.5	$	187.1	$	193.7	$	(1.0)	$	1,555.3
Depreciation and amortization	112.1		29.4		16.9		—		158.4
Operating income (loss)	114.8		(3.4)		(24.5)		—		86.9
Additions to property, plant and equipment	71.4		18.9		9.0		—		99.3

______________________

1 Intersegment revenue between the Other category and the Europe reporting segment was $0.1 million for three months ended October 2, 2021 and $1.0 million for the nine months ended October 2, 2021.

Revenues by channel by reporting segment were as follows:

	For the Three Months Ended October 1, 2022
(in millions of U.S. dollars)	North America		Europe		Other		Eliminations		Total
Revenue, net
Water Direct/Water Exchange	$	334.1	$	55.6	$	12.5	$	—	$	402.2
Water Refill/Water Filtration	52.6		8.2		0.8		—		61.6
Other Water	9.6		0.5		22.3		—		32.4
Water Dispensers	23.7		—		—		—		23.7
Other	26.8		7.1		30.8		—		64.7
Total	$	446.8	$	71.4	$	66.4	$	—	$	584.6

	For the Nine Months Ended October 1, 2022
(in millions of U.S. dollars)	North America		Europe		Other		Eliminations		Total
Revenue, net
Water Direct/Water Exchange	$	933.5	$	157.5	$	35.0	$	—	$	1,126.0
Water Refill/Water Filtration	142.1		24.6		2.0		—		168.7
Other Water	65.8		1.3		59.8		—		126.9
Water Dispensers	56.4		—		—		—		56.4
Other	82.8		22.2		99.1		—		204.1
Total	$	1,280.6	$	205.6	$	195.9	$	—	$	1,682.1

	For the Three Months Ended October 2, 2021
(in millions of U.S. dollars)	North America		Europe		Other		Eliminations1		Total
Revenue, net
Water Direct/Water Exchange	$	281.9	$	50.3	$	12.0	$	—	$	344.2
Water Refill/Water Filtration	47.0		8.4		0.2		—		55.6
Other Water	42.6		0.4		23.8		—		66.8
Water Dispensers	16.1		—		—		—		16.1
Other	25.7		8.1		34.4		(0.1)		68.1
Total	$	413.3	$	67.2	$	70.4	$	(0.1)	$	550.8

	For the Nine Months Ended October 2, 2021
(in millions of U.S. dollars)	North America		Europe		Other		Eliminations1		Total
Revenue, net
Water Direct/Water Exchange	$	785.6	$	138.3	$	30.9	$	—	$	954.8
Water Refill/Water Filtration	137.2		24.1		0.4		—		161.7
Other Water	125.7		1.0		61.0		—		187.7
Water Dispensers	48.7		—		—		—		48.7
Other	78.3		23.7		101.4		(1.0)		202.4
Total	$	1,175.5	$	187.1	$	193.7	$	(1.0)	$	1,555.3

______________________

1    Intersegment revenue between the Other category and the Europe reporting segment was $0.1 million for three months ended October 2, 2021 and $1.0 million for the nine months ended October 2, 2021.