Business Segments (Tables)

6 Months Ended

Jul. 01, 2023

Segment Reporting [Abstract]

Business Segments

Business Segments (in thousands):

	Feed Ingredients		Food Ingredients		Fuel Ingredients		Corporate		Total
Three Months Ended July 1, 2023
Net Sales	$	1,141,661	$	476,093	$	139,867	$	—	$	1,757,621
Cost of sales and operating expenses	876,413		371,095		112,194		—		1,359,702
Gross Margin	265,248		104,998		27,673		—		397,919
Loss/(gain) on sale of assets	322		2		(65)		—		259
Selling, general and administrative expenses	77,406		33,684		4,971		20,690		136,751
Restructuring and asset impairment charges	—		896		—		—		896
Acquisition and integration costs	—		—		—		1,706		1,706
Change in fair value of contingent consideration	(7,499)		—		—		—		(7,499)
Depreciation and amortization	82,575		28,445		8,567		2,499		122,086
Equity in net income of Diamond Green Diesel	—		—		212,964		—		212,964
Segment operating income/(loss)	112,444		41,971		227,164		(24,895)		356,684
Equity in net income of other unconsolidated subsidiaries	1,849		—		—		—		1,849
Segment income/(loss)	114,293		41,971		227,164		(24,895)		358,533
Total other expense									(62,624)
Income before income taxes									$	295,909

	Feed Ingredients		Food Ingredients		Fuel Ingredients		Corporate		Total
Three Months Ended July 2, 2022
Net Sales	$	1,170,347	$	369,181	$	110,660	$	—	$	1,650,188
Cost of sales and operating expenses	864,306		280,964		86,237		—		1,231,507
Gross Margin	306,041		88,217		24,423		—		418,681
Gain on sale of assets	(964)		(73)		(18)		—		(1,055)
Selling, general and administrative expenses	64,863		22,855		4,277		15,781		107,776
Restructuring and impairment charges	8,557		—		—		—		8,557
Acquisition and integration costs	—		—		—		5,358		5,358
Depreciation and amortization	68,938		14,449		6,936		2,790		93,113
Equity in net income of Diamond Green Diesel	—		—		73,680		—		73,680
Segment operating income/(loss)	164,647		50,986		86,908		(23,929)		278,612
Equity in net income of other unconsolidated subsidiaries	2,272		—		—		—		2,272
Segment income/(loss)	166,919		50,986		86,908		(23,929)		280,884
Total other expense									(28,722)
Income before income taxes									$	252,162

	Feed Ingredients		Food Ingredients		Fuel Ingredients		Corporate		Total
Six Months Ended July 1, 2023
Net Sales	$	2,379,155	$	872,485	$	297,153	$	—	$	3,548,793
Cost of sales and operating expenses	1,826,485		661,210		238,980		—		2,726,675
Gross Margin	552,670		211,275		58,173		—		822,118
Gain on sale of assets	(20)		(19)		(29)		—		(68)
Selling, general and administrative expenses	152,097		66,806		11,163		42,151		272,217
Restructuring and asset impairment charges	92		5,328		—		—		5,420
Acquisition and integration costs	—		—		—		8,728		8,728
Change in fair value of contingent consideration	(7,499)		—		—		—		(7,499)
Depreciation and amortization	172,895		42,918		16,960		5,319		238,092
Equity in net income of Diamond Green Diesel	—		—		307,301		—		307,301
Segment operating income/(loss)	235,105		96,242		337,380		(56,198)		612,529
Equity in net income of other unconsolidated subsidiaries	1,969		—		—		—		1,969
Segment income/(loss)	237,074		96,242		337,380		(56,198)		614,498
Total other expense									(101,760)
Income before income taxes									$	512,738
Segment assets at July 1, 2023	$	4,738,648	$	2,613,854	$	2,573,246	$	1,047,491	$	10,973,239

	Feed Ingredients		Food Ingredients		Fuel Ingredients		Corporate		Total
Six Months Ended July 2, 2022
Net Sales	$	2,049,785	$	723,995	$	242,742	$	—	$	3,016,522
Cost of sales and operating expenses	1,509,829		551,276		190,979		—		2,252,084
Gross Margin	539,956		172,719		51,763		—		764,438
Gain on sale of assets	(1,305)		(82)		(57)		—		(1,444)
Selling, general and administrative expenses	121,072		49,699		8,197		30,840		209,808
Restructuring and asset impairment charges	8,557		—		—		—		8,557
Acquisition and integration costs	—		—		—		9,131		9,131
Depreciation and amortization	123,288		29,899		13,610		5,562		172,359
Equity in net income of Diamond Green Diesel	—		—		145,484		—		145,484
Segment operating income/(loss)	288,344		93,203		175,497		(45,533)		511,511
Equity in net income of other unconsolidated subsidiaries	3,632		—		—		—		3,632
Segment income/(loss)	291,976		93,203		175,497		(45,533)		515,143
Total other expense									(46,167)
Income before income taxes									$	468,976
Segment assets at December 31, 2022	$	4,866,351	$	1,251,473	$	2,307,199	$	777,347	$	9,202,370