v3.26.3
Business Information
9 Months Ended
Sep. 26, 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 39 weeks ended September 26, 2026 and September 27, 2025:
13 weeks ended39 weeks ended
September 26, 2026September 27, 2025September 26, 2026September 27, 2025
Net sales$10,402 $10,191 $30,544 $29,624 
Cost of goods sold8,498 8,438 25,068 24,480 
Distribution costs720 667 2,120 1,967 
Selling and administrative costs779 791 2,285 2,279 
Restructuring activity and asset impairment charges34 13 41 20 
Other income—net— — (4)(3)
Interest expense—net78 76 230 227 
Income tax provision75 53 195 162 
Net income$218 $153 $609 $492