Business Segments |
Business Segments (in thousands): | | | | | | | | | | | | | | | | | | | Feed Ingredients | Food Ingredients | Fuel Ingredients | Corporate (a) | Total | Three Months Ended June 28, 2025 | | | | | | Total net sales | $ | 936,532 | | $ | 386,142 | | $ | 158,844 | | $ | — | | $ | 1,481,518 | | Cost of sales and operating expenses | 722,081 | | 282,233 | | 131,287 | | — | | 1,135,601 | | Gross margin | 214,451 | | 103,909 | | 27,557 | | — | | 345,917 | | | | | | | | Loss/(gain) on sale of assets | 1,085 | | (24) | | (109) | | — | | 952 | | Selling, general and administrative expenses | 77,464 | | 33,987 | | 9,027 | | 17,591 | | 138,069 | | | | | | | | Acquisition and integration costs | — | | — | | — | | 3,383 | | 3,383 | | Change in fair value of contingent consideration | 12,583 | | — | | — | | — | | 12,583 | | Depreciation and amortization | 83,419 | | 27,391 | | 8,763 | | 1,489 | | 121,062 | | Equity in net income of Diamond Green Diesel | — | | — | | 6,000 | | — | | 6,000 | | Segment operating income/(loss) | 39,900 | | 42,555 | | 15,876 | | (22,463) | | 75,868 | | | | | | | | Equity in net income of other unconsolidated subsidiaries | 2,526 | | — | | — | | — | | 2,526 | | Segment income/(loss) | 42,426 | | 42,555 | | 15,876 | | (22,463) | | 78,394 | | | | | | | | Total other expense (b) | | | | | (60,064) | | Income before income taxes | | | | | $ | 18,330 | |
(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 $3.0 million, casualty loss of approximately $(0.9) million, other pension expense excluding service cost of approximately $(6.2) million and other expense of approximately $(2.4) million.
| | | | | | | | | | | | | | | | | | | Feed Ingredients | Food Ingredients | Fuel Ingredients | Corporate | Total | Three Months Ended June 29, 2024 | | | | | | Total 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 (c) | | | | | (69,380) | | Income before income taxes | | | | | $ | 82,139 | |
(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 $1.8 million, casualty gain of approximately $0.1 million, other pension expense excluding service cost of approximately $(0.4) million and other expense of approximately $(2.0) million. | | | | | | | | | | | | | | | | | | | Feed Ingredients | Food Ingredients | Fuel Ingredients | Corporate | Total | Six Months Ended June 28, 2025 | | | | | | Total net sales | $ | 1,832,815 | | $ | 735,382 | | $ | 293,915 | | $ | — | | $ | 2,862,112 | | Cost of sales and operating expenses | 1,436,096 | | 529,014 | | 239,734 | | — | | 2,204,844 | | Gross margin | 396,719 | | 206,368 | | 54,181 | | — | | 657,268 | | | | | | | | Loss/(gain) on sale of assets | 1,200 | | 31 | | (217) | | — | | 1,014 | | Selling, general and administrative expenses | 149,035 | | 65,459 | | 17,568 | | 27,563 | | 259,625 | | | | | | | | Acquisition and integration costs | — | | — | | — | | 4,917 | | 4,917 | | Change in fair value of contingent consideration | 18,024 | | — | | — | | — | | 18,024 | | Depreciation and amortization | 167,549 | | 56,953 | | 17,352 | | 3,043 | | 244,897 | | Equity in net loss of Diamond Green Diesel | — | | — | | (24,523) | | — | | (24,523) | | Segment operating income/(loss) | 60,911 | | 83,925 | | (5,045) | | (35,523) | | 104,268 | | | | | | | | Equity in net income of other unconsolidated subsidiaries | 5,154 | | — | | — | | — | | 5,154 | | Segment income/(loss) | 66,065 | | 83,925 | | (5,045) | | (35,523) | | 109,422 | | | | | | | | Total other expense (d) | | | | | (116,060) | | Loss before income taxes | | | | | $ | (6,638) | |
(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 $10.6 million, casualty loss of approximately $(1.5) million, other pension expense excluding service cost of approximately $(6.7) million and other expense of approximately $(5.6) million.
| | | | | | | | | | | | | | | | | | | Feed Ingredients | Food Ingredients | Fuel Ingredients | Corporate | Total | Six Months Ended June 29, 2024 | | | | | | Total 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 (e) | | | | | (123,364) | | Income before income taxes | | | | | $ | 167,634 | |
(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 $8.4 million, casualty gain of approximately $7.9 million, other pension expense excluding service cost of approximately $(0.9) million and other expense of approximately $(7.3) million.
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