Business Segments (Tables)

6 Months Ended

Jun. 29, 2024

Business Segments (in thousands):


	Feed Ingredients		Food Ingredients		Fuel Ingredients		Corporate		Total
Three Months Ended June 29, 2024
Net sales	$	934,147	$	378,841	$	142,304	$	—	$	1,455,292
Cost of sales and operating expenses	737,871		276,760		113,790		—		1,128,421
Gross margin	196,276		102,081		28,514		—		326,871

Loss/(gain) on sale of assets	205		37		(20)		—		222
Selling, general and administrative expenses	74,015		28,844		8,409		18,463		129,731

Acquisition and integration costs	—		—		—		1,130		1,130
Change in fair value of contingent consideration	(33,122)		—		—		—		(33,122)
Depreciation and amortization	86,444		27,372		8,723		2,066		124,605
Equity in net income of Diamond Green Diesel	—		—		44,197		—		44,197
Segment operating income/(loss)	68,734		45,828		55,599		(21,659)		148,502

Equity in net income of other unconsolidated subsidiaries	3,017		—		—		—		3,017
Segment income/(loss)	71,751		45,828		55,599		(21,659)		151,519

Total other expense									(69,380)
Income before income taxes									$	82,139


	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 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
Six Months Ended June 29, 2024
Net sales	$	1,823,995	$	770,123	$	281,473	$	—	$	2,875,591
Cost of sales and operating expenses	1,443,640		574,905		226,542		—		2,245,087
Gross margin	380,355		195,218		54,931		—		630,504

Loss/(gain) on sale of assets	337		(257)		(432)		—		(352)
Selling, general and administrative expenses	151,153		60,588		17,154		39,979		268,874

Acquisition and integration costs	—		—		—		5,184		5,184
Change in fair value of contingent consideration	(58,371)		—		—		—		(58,371)
Depreciation and amortization	174,013		56,240		17,390		4,471		252,114
Equity in net income of Diamond Green Diesel	—		—		122,616		—		122,616
Segment operating income/(loss)	113,223		78,647		143,435		(49,634)		285,671

Equity in net income of other unconsolidated subsidiaries	5,327		—		—		—		5,327
Segment income/(loss)	118,550		78,647		143,435		(49,634)		290,998

Total other expense									(123,364)
Income before income taxes									$	167,634

Segment assets at June 29, 2024	$	4,367,740	$	2,277,464	$	2,684,602	$	1,290,843	$	10,620,649


	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 December 30, 2023	$	4,702,593	$	2,646,702	$	2,589,145	$	1,122,644	$	11,061,084