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Business Segments
 9 Months Ended
Sep. 29, 2012
Segment Reporting [Abstract]  
Business Segments
Business Segments

The Company sells its products domestically and internationally and operates within two industry segments: Rendering and Bakery. The measure of segment profit (loss) includes all revenues, operating expenses (excluding certain amortization of intangibles), and selling, general and administrative expenses incurred at all operating locations and excludes general corporate expenses. Included in corporate activities are general corporate expenses and the amortization of intangibles. Assets of corporate activities include cash, unallocated prepaid expenses, deferred taxes, prepaid pension, and miscellaneous other assets.

Rendering
Rendering operations process poultry, animal by-products and used cooking oil into fats (primarily BFT, PG and YG), protein (primarily MBM and PM (feed grade and pet food)) and hides. Fat was approximately $205.9 million and $240.8 million of net sales for the three months ended September 29, 2012 and October 1, 2011, respectively and approximately $626.0 million and $722.5 million of net sales for the nine months ended September 29, 2012 and October 1, 2011, respectively. Protein was approximately $137.1 million and $110.7 million of net sales for the three months ended September 29, 2012 and October 1, 2011, respectively and $361.9 million and $341.2 million of net sales for the nine months ended September 29, 2012 and October 1, 2011, respectively. Rendering operations also provides grease trap servicing. Included in the Rendering Segment is the National Service Center (“NSC”). The NSC schedules services such as fat and bone and used cooking oil collection and trap cleaning for contracted customers using the Company's resources or third party providers.

Bakery
Bakery products are collected from large commercial bakeries that produce a variety of products, including cookies, crackers, cereal, bread, dough, potato chips, pretzels, sweet goods and biscuits, among others. The Company processes the raw materials into BBP, including Cookie Meal®, an animal feed ingredient primarily used in poultry rations.

Business Segment Net Sales (in thousands):

 
 
Three Months Ended
Nine Months Ended
 
September 29,
2012
October 1,
2011
September 29,
2012
October 1,
2011
Rendering
$
368,154

$
376,329

$
1,061,947

$
1,140,574

Bakery
84,578

79,546

214,567

225,809

Total
$
452,732

$
455,875

$
1,276,514

$
1,366,383



Business Segment Profit/(Loss) (in thousands):

 
 
Three Months Ended
Nine Months Ended
 
September 29, 2012
October 1, 2011
September 29, 2012
October 1, 2011
Rendering
$
70,624

$
77,268

$
208,263

$
259,622

Bakery
18,641

17,109

42,786

50,618

Corporate Activities
(46,225
)
(45,836
)
(130,535
)
(140,937
)
Interest expense
(5,868
)
(7,409
)
(18,546
)
(29,382
)
Net Income
$
37,172

$
41,132

$
101,968

$
139,921



 Business Segment Assets (in thousands):

 
 
September 29,
2012
December 31,
2011
Rendering
$
1,107,219

$
1,092,988

Bakery
176,503

165,885

Corporate Activities
239,761

158,157

Total
$
1,523,483

$
1,417,030