v3.25.2
Revenue (Notes)
 6 Months Ended
Jun. 28, 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 and six months ended June 28, 2025 and June 29, 2024 (in thousands):

Three Months Ended June 28, 2025
Feed IngredientsFood IngredientsFuel IngredientsTotal
Geographic Area
North America$708,823 $111,049 $— $819,872 
Europe103,686 184,750 158,844 447,280 
China7,319 53,825 — 61,144 
South America113,049 26,100 — 139,149 
Other3,655 10,418 — 14,073 
Total net sales$936,532 $386,142 $158,844 $1,481,518 
Major product types
Fats$389,991 $44,681 $— $434,672 
Used cooking oil85,260 — — 85,260 
Proteins326,983 — — 326,983 
Bakery51,552 — — 51,552 
Other rendering70,801 — — 70,801 
Food ingredients— 311,348 — 311,348 
Bioenergy— — 158,844 158,844 
Other11,945 30,113 — 42,058 
Total net sales$936,532 $386,142 $158,844 $1,481,518 

 Six Months Ended June 28, 2025
Feed IngredientsFood IngredientsFuel IngredientsTotal
Geographic Area
North America$1,397,526 $209,010 $— $1,606,536 
Europe208,738 352,797 293,915 855,450 
China10,984 104,195 — 115,179 
South America208,373 47,737 — 256,110 
Other7,194 21,643 — 28,837 
Total net sales$1,832,815 $735,382 $293,915 $2,862,112 
Major product types
Fats$731,515 $89,050 $— $820,565 
Used cooking oil164,200 — — 164,200 
Proteins678,200 — — 678,200 
Bakery102,200 — — 102,200 
Other rendering133,000 — — 133,000 
Food ingredients— 589,930 — 589,930 
Bioenergy— — 293,915 293,915 
Other23,700 56,402 — 80,102 
Total net sales$1,832,815 $735,382 $293,915 $2,862,112 
Three Months Ended June 29, 2024
Feed IngredientsFood IngredientsFuel IngredientsTotal
Geographic Area
North America$719,783 $100,562 $— $820,345 
Europe107,777 166,102 142,304 416,183 
China8,058 61,927 — 69,985 
South America94,908 37,173 — 132,081 
Other3,621 13,077 — 16,698 
Total net sales$934,147 $378,841 $142,304 $1,455,292 
Major product types
Fats$314,675 $38,074 $— $352,749 
Used cooking oil96,126 — — 96,126 
Proteins382,556 — — 382,556 
Bakery48,504 — — 48,504 
Other rendering79,541 — — 79,541 
Food ingredients— 315,317 — 315,317 
Bioenergy— — 142,304 142,304 
Other12,745 25,450 — 38,195 
Total net sales$934,147 $378,841 $142,304 $1,455,292 
Six Months Ended June 29, 2024
Feed IngredientsFood IngredientsFuel IngredientsTotal
Geographic Area
North America$1,411,629 $207,626 $— $1,619,255 
Europe208,570 335,555 281,473 825,598 
China12,836 123,396 — 136,232 
South America183,753 77,446 — 261,199 
Other7,207 26,100 — 33,307 
Total net sales$1,823,995 $770,123 $281,473 $2,875,591 
Major product types
Fats$625,922 $76,364 $— $702,286 
Used cooking oil171,926 — — 171,926 
Proteins750,156 — — 750,156 
Bakery93,404 — — 93,404 
Other rendering156,242 — — 156,242 
Food ingredients— 646,348 — 646,348 
Bioenergy— — 281,473 281,473 
Other26,345 47,411 — 73,756 
Total net sales$1,823,995 $770,123 $281,473 $2,875,591 
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 $74.8 million, with the remaining performance obligations to be recognized in future periods (generally three years) of approximately $581.1 million.