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Business Segments
 9 Months Ended
Sep. 27, 2025
Segment Reporting [Abstract]  
Business Segments Business Segments
In 2024, the Company adopted Accounting Standards Update (“ASU”) No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, on a retrospective basis.

The Company sells its products through a global network of over 260 locations across five continents within three industry segments: Feed Ingredients, Food Ingredients and Fuel Ingredients. The Company's segments are determined as those operations whose results are reviewed regularly by the chief operating decision maker (“CODM”), who is the Company's Chief Executive Officer, in deciding how to allocate resources and assess performance. Each segment is organized and managed based upon the nature of the Company's markets and customers and consists of similar products and services.

The following is a description of each segment's business operations.

Feed Ingredients
Feed Ingredients consists principally of (i) the Company’s U.S. ingredients business, including the Company’s fats and proteins, used cooking oil, trap grease, the Company's Canada ingredients business, and the ingredients and specialty products businesses conducted by Darling Ingredients International under the Sonac and FASA names (proteins, fats, and blood products) and (ii) the Company’s bakery residuals business. Feed Ingredients operations process animal by-products and used cooking oil into fats, proteins and hides.

Food Ingredients
Food Ingredients consists principally of (i) the collagen business conducted by Darling Ingredients International under the Rousselot and Gelnex names, (ii) the natural casings business conducted by Darling Ingredients International under the CTH name and (iii) certain specialty products businesses conducted by Darling Ingredients International under the Sonac name.

Fuel Ingredients
The Company’s Fuel Ingredients segment consists of (i) the Company’s investment in the DGD Joint Venture and (ii) the bioenergy business conducted by Darling Ingredients International under the Ecoson and Rendac names.

The performance of the operating segments is evaluated based on segment income (loss) which includes all revenues, operating expenses, and selling, general and administrative expenses incurred at all operating locations and excludes general corporate expenses. The CODM uses segment income (loss) as the measure to make resource (including financial or capital resources) allocation decisions for each segment, predominantly in the annual budget and forecasting process. The CODM considers budget-to-actual variances on a quarterly basis when evaluating performance for each segment and making decisions about capital allocation. Accounting policies have been applied consistently by all segments within the Company for all reporting periods. Intercompany revenue and expense amounts have been eliminated within each segment to report on the basis that management uses internally for evaluating segment performance. Our CODM is not provided with total assets by segment since we do not measure, evaluate the performance, or allocate capital resources on a segment basis. As a result, we have not disclosed any asset information by segment.
Business Segments (in thousands):
Feed IngredientsFood IngredientsFuel IngredientsCorporate (a)Total
Three Months Ended September 27, 2025
Total net sales$1,029,115 $380,574 $154,277 $— $1,563,966 
Cost of sales and operating expenses779,306 275,751 121,900 — 1,176,957 
Gross margin249,809 104,823 32,377 — 387,009 
Gain on sale of assets(125)(65)(185)— (375)
Selling, general and administrative expenses75,938 33,250 8,077 22,329 139,594 
Acquisition and integration costs— — — 6,156 6,156 
Depreciation and amortization83,590 29,839 9,129 1,506 124,064 
Equity in net loss of Diamond Green Diesel— — (45,844)— (45,844)
Segment operating income/(loss)90,406 41,799 (30,488)(29,991)71,726 
Equity in net income of other unconsolidated subsidiaries3,277 — — — 3,277 
Segment income/(loss)93,683 41,799 (30,488)(29,991)75,003 
Total other expense (b)(55,196)
Income before income taxes$19,807 

(a)    Included in corporate activities are general corporate expenses.

(b)    Total other expense includes interest expense, loss on early retirement of debt, foreign currency gain (loss) and other income (expense). Interest expense, loss on early retirement of debt and foreign currency gain (loss) are separately disclosed on our Consolidated Statements of Operations. Other income/(expense) consists of interest income of approximately $1.3 million, casualty loss of approximately $(0.2) million, other pension expense excluding service cost of approximately $(0.2) million, gain on the sale of a portion of a small international subsidiary of approximately $1.7 million and other expense of approximately $(1.9) million.

Feed IngredientsFood IngredientsFuel IngredientsCorporateTotal
Three Months Ended September 28, 2024
Total net sales$927,457 $357,292 $137,142 $— $1,421,891 
Cost of sales and operating expenses727,642 271,861 108,816 — 1,108,319 
Gross margin199,815 85,431 28,326 — 313,572 
Loss/(gain) on sale of assets204 49 (2)— 251 
Selling, general and administrative expenses67,445 28,351 7,757 12,164 115,717 
Acquisition and integration costs— — — 218 218 
Change in fair value of contingent consideration16,156 — — — 16,156 
Depreciation and amortization85,480 26,743 9,297 2,033 123,553 
Equity in net income of Diamond Green Diesel— — 2,430 — 2,430 
Segment operating income/(loss)30,530 30,288 13,704 (14,415)60,107 
Equity in net income of other unconsolidated subsidiaries3,782 — — — 3,782 
Segment income/(loss)34,312 30,288 13,704 (14,415)63,889 
Total other expense (c)(62,245)
Income before income taxes$1,644 

(c)    Total other expense includes interest expense, loss on early retirement of debt, foreign currency gain (loss) and other income (expense). Interest expense, loss on early retirement of debt and foreign currency gain (loss) are separately disclosed on our Consolidated Statements of Operations. Other income/(expense) consists of interest income of approximately $3.6 million, casualty gain of approximately $3.8 million, other pension expense excluding service cost of approximately $(0.4) million and other expense of approximately $(2.3) million.
Feed IngredientsFood IngredientsFuel IngredientsCorporateTotal
Nine Months Ended September 27, 2025
Total net sales$2,861,930 $1,115,956 $448,192 $— $4,426,078 
Cost of sales and operating expenses2,215,402 804,765 361,634 — 3,381,801 
Gross margin646,528 311,191 86,558 — 1,044,277 
Loss/(gain) on sale of assets1,075 (34)(402)— 639 
Selling, general and administrative expenses224,973 98,709 25,645 49,892 399,219 
Acquisition and integration costs— — — 11,073 11,073 
Change in fair value of contingent consideration18,024 — — — 18,024 
Depreciation and amortization251,139 86,792 26,481 4,549 368,961 
Equity in net loss of Diamond Green Diesel— — (70,367)— (70,367)
Segment operating income/(loss)151,317 125,724 (35,533)(65,514)175,994 
Equity in net income of other unconsolidated subsidiaries8,431 — — — 8,431 
Segment income/(loss)159,748 125,724 (35,533)(65,514)184,425 
Total other expense (d)(171,256)
Loss before income taxes$13,169 

(d)    Total other expense includes interest expense, loss on early retirement of debt, foreign currency gain (loss) and other income (expense). Interest expense, loss on early retirement of debt and foreign currency gain (loss) are separately disclosed on our Consolidated Statements of Operations. Other income/(expense) consists of interest income of approximately $11.9 million, casualty loss of approximately $(1.7) million, other pension expense excluding service cost of approximately $(6.9) million, gain on the sale of a portion of a small international subsidiary of approximately $1.7 million and other expense of approximately $(7.5) million.

Feed IngredientsFood IngredientsFuel IngredientsCorporateTotal
Nine Months Ended September 28, 2024
Total net sales$2,751,452 $1,127,415 $418,615 $— $4,297,482 
Cost of sales and operating expenses2,171,282 846,766 335,358 — 3,353,406 
Gross margin580,170 280,649 83,257 — 944,076 
Loss/(gain) on sale of assets541 (208)(434)— (101)
Selling, general and administrative expenses218,598 88,939 24,911 52,143 384,591 
Acquisition and integration costs— — — 5,402 5,402 
Change in fair value of contingent consideration(42,215)— — — (42,215)
Depreciation and amortization259,493 82,983 26,687 6,504 375,667 
Equity in net income of Diamond Green Diesel— — 125,046 — 125,046 
Segment operating income/(loss)143,753 108,935 157,139 (64,049)345,778 
Equity in net income of other unconsolidated subsidiaries9,109 — — — 9,109 
Segment income/(loss)152,862 108,935 157,139 (64,049)354,887 
Total other expense (e)(185,609)
Income before income taxes$169,278 

(e)    Total other expense includes interest expense, loss on early retirement of debt, foreign currency gain (loss) and other income (expense). Interest expense, loss on early retirement of debt and foreign currency gain (loss) are separately disclosed on our Consolidated Statements of Operations. Other income/(expense) consists of interest income of approximately $12.1 million, casualty gain of approximately $11.6 million, other pension expense excluding service cost of approximately $(1.3) million and other expense of approximately $(9.6) million.