Note 12 - Segment Information

9 Months Ended

Dec. 28, 2024

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

12. Segment Information

The Company conducts its business almost entirely in food packaging with two reportable segments: Vegetable and Fruit/Snack. The reportable segments reflect how the Company's Chief Executive Officer, who is the Chief Operating Decision Maker (“CODM”), allocates resources and evaluates performance, and how the Company's internal management financial reporting is structured. The Company's CODM evaluates the performance of these reportable segments with a focus on earnings (loss) before income taxes as the measure of segment profit or loss.

The Other category consists of the Company's non-food operations including revenue derived from the sale of cans, ends, seed, outside revenue from the Company's aircraft operations, and certain corporate items. These ancillary activities do not qualify as an operating segment and are not eligible for aggregation with one of the identified operating segments; therefore they are combined and presented within the “Other” category.

Segment information is provided on a FIFO basis which is consistent with how financial information is prepared internally and provided to the CODM. The LIFO impact on earnings (loss) before income taxes and total assets is shown separately for purposes of reconciling to the GAAP financial statement measure shown on the condensed consolidated statements of net earnings and condensed consolidated balance sheets.

The following table summarizes certain financial data for the Company’s reportable segments (in thousands):

	Three Months Ended December 28, 2024
			Fruit and				Subtotal		LIFO
	Vegetable		Snack		Other		(FIFO basis)		Impact			Total
Net sales	$	453,170	$	40,177	$	9,509	$	502,856	$	-		$	502,856
Earnings (loss) before income taxes		23,876		3,872		2,519		30,267		(10,919	)		19,348
Total assets		1,467,960		103,117		2,598		1,573,675		(347,760	)		1,225,915

	Three Months Ended December 30, 2023
			Fruit and					Subtotal		LIFO
	Vegetable		Snack		Other			(FIFO basis)		Impact			Total
Net sales	$	400,144	$	35,485	$	8,852		$	444,481	$	-		$	444,481
Earnings (loss) before income taxes		33,304		2,217		(295	)		35,226		(12,027	)		23,199
Total assets		1,705,008		103,542		3,070			1,811,620		(322,083	)		1,489,537

	Nine Months Ended December 28, 2024
			Fruit and				Subtotal		LIFO
	Vegetable		Snack		Other		(FIFO basis)		Impact			Total
Net sales	$	1,122,607	$	88,236	$	22,205	$	1,233,048	$	-		$	1,233,048
Earnings (loss) before income taxes		62,032		9,395		4,468		75,895		(22,978	)		52,917
Total assets		1,467,960		103,117		2,598		1,573,675		(347,760	)		1,225,915

	Nine Months Ended December 30, 2023
			Fruit and				Subtotal		LIFO
	Vegetable		Snack		Other		(FIFO basis)		Impact			Total
Net sales	$	1,044,265	$	82,378	$	23,977	$	1,150,620	$	-		$	1,150,620
Earnings (loss) before income taxes		92,461		4,416		8,803		105,680		(19,643	)		86,037
Total assets		1,705,008		103,542		3,070		1,811,620		(322,083	)		1,489,537