v3.25.1
Revenue (Notes)
 3 Months Ended
Mar. 29, 2025
Revenue from Contract with Customer [Abstract]  
Revenue Revenue
The Company extends payment terms to its customers based on commercially acceptable practices. The term between invoicing and payment due date is not significant. Revenue is measured as the amount of consideration the Company expects to receive in exchange for transferring finished products or performing services, which is generally based on an executed agreement or purchase order.

Most of the Company’s products are shipped based on the customer specifications. Customer returns are infrequent and not material to the Company. Adjustments to net sales for sales deductions are generally recognized in the same period as the sale or when known. Customers in certain industries or countries may be required to prepay prior to shipment in order to maintain payment protection. These represent short-term prepayment from customers and are not material to the Company. The Company elected to treat shipping and handling as fulfillment costs. Sales, value-add, and other taxes collected concurrently with revenue-producing activities are excluded from revenue and booked on a net basis.

The following tables present the Company revenues disaggregated by geographic area and major product types by reportable segment for the three months ended March 29, 2025 and March 30, 2024 (in thousands):

Three Months Ended March 29, 2025
Feed IngredientsFood IngredientsFuel IngredientsTotal
Geographic Area
North America$688,703 $97,961 $— $786,664 
Europe105,052 168,047 135,071 408,170 
China3,665 50,370 — 54,035 
South America95,324 21,637 — 116,961 
Other3,539 11,225 — 14,764 
Total net sales$896,283 $349,240 $135,071 $1,380,594 
Major product types
Fats$341,524 $44,369 $— $385,893 
Used cooking oil78,940 — — 78,940 
Proteins351,217 — — 351,217 
Bakery50,648 — — 50,648 
Other rendering62,199 — — 62,199 
Food ingredients— 278,582 — 278,582 
Bioenergy— — 135,071 135,071 
Other11,755 26,289 — 38,044 
Total net sales$896,283 $349,240 $135,071 $1,380,594 
Three Months Ended March 30, 2024
Feed IngredientsFood IngredientsFuel IngredientsTotal
Geographic Area
North America$691,846 $107,064 $— $798,910 
Europe100,793 169,453 139,169 409,415 
China4,778 61,469 — 66,247 
South America88,845 40,273 — 129,118 
Other3,586 13,023 — 16,609 
Total net sales$889,848 $391,282 $139,169 $1,420,299 
Major product types
Fats$311,247 $38,290 $— $349,537 
Used cooking oil75,800 — — 75,800 
Proteins367,600 — — 367,600 
Bakery44,900 — — 44,900 
Other rendering76,701 — — 76,701 
Food ingredients— 331,031 — 331,031 
Bioenergy— — 139,169 139,169 
Other13,600 21,961 — 35,561 
Total net sales$889,848 $391,282 $139,169 $1,420,299 
Long-Term Performance Obligations. The Company from time to time enters into long-term contracts to supply certain volumes of finished products to certain customers. Revenue recognized to date in 2025 under these long-term supply contracts was approximately $36.6 million, with the remaining performance obligations to be recognized in future periods (generally three years) of approximately $628.2 million.