v3.26.1
Business Information
6 Months Ended
Jun. 27, 2026
Segment Reporting [Abstract]  
Business information BUSINESS INFORMATION
Single Operating Segment Reporting
The Company operates as one operating segment. The Company markets, sells, and distributes fresh, frozen and dry food and non-food products to foodservice customers throughout the U.S. The Company uses a centralized management structure, and its strategies and initiatives are implemented and executed consistently across the organization. The Company uses shared resources for sales, procurement, and general and administrative activities across each of its distribution facilities and operations. The Company’s distribution facilities form a single network to reach its customers; it is common for a single customer to make purchases from several different distribution facilities. Capital projects, whether for cost savings or generating incremental revenue, are evaluated based on estimated economic returns to the organization as a whole.
The Company’s consolidated results represent the results of its one operating segment based on how the Company’s chief operating decision maker (the “CODM”), the Chief Executive Officer (the “CEO”), views the business for purposes of evaluating performance and making operating decisions.
The CODM utilizes the GAAP measurement of consolidated net income to assess financial performance and allocate resources. This financial metric is used by the CODM to make key operating decisions, such as allocation of budget between net sales, cost of goods sold, distribution costs and selling and administrative costs. The measure of segment assets is reported on the Company’s Consolidated Balance Sheets as total consolidated assets. In addition, the measure of capital expenditures, depreciation and amortization is reported on the Company’s Consolidated Statements of Cash Flows. The following table presents selected financial information with respect to the Company’s single operating segment for the 13 weeks and 26 weeks ended June 27, 2026 and June 28, 2025:
13 Weeks Ended26 weeks ended
June 27, 2026June 28, 2025June 27, 2026June 28, 2025
Net sales$10,532 $10,082 $20,142 $19,433 
Cost of goods sold8,613 8,305 16,570 16,042 
Distribution costs712 657 1,400 1,300 
Selling and administrative costs765 746 1,506 1,488 
Restructuring activity and asset impairment charges(1)
Other (income) expense—net(3)(2)(4)(3)
Interest expense—net77 74 152 151 
Income tax provision94 76 120 109 
Net income$275 $224 $391 $339