Quarterly report pursuant to Section 13 or 15(d)

BUSINESS SEGMENTS

v3.22.1
BUSINESS SEGMENTS
 3 Months Ended
Mar. 31, 2022
Segment Reporting [Abstract]  
BUSINESS SEGMENTS
NOTE 15: BUSINESS SEGMENTS
The Company has two reportable segments: Branded CPG and Flavors & Ingredients. In addition, the Company’s corporate office functions are reported and included under Corporate. Corporate is not a reportable or operating segment but is included for reconciliation purposes and includes the costs for the corporate office administrative activities as well as transaction-related and other costs. The Company does not present assets by reportable segments as they are not reviewed by the Chief Operating Decision Maker for purposes of assessing segment performance and allocating resources.
The following table presents selected financial information relating to the Company’s business segments (in thousands):
Three Months Ended
March 31, 2022 March 31, 2021
Product revenues, net
Branded CPG $ 103,761  $ 81,797 
Flavors & Ingredients 26,831  24,028 
Total product revenues, net $ 130,592  $ 105,825 
Operating income (loss)
Branded CPG $ 6,460  $ 10,159 
Flavors & Ingredients 7,827  972 
14,287  11,131 
Corporate (7,222) (14,195)
Total operating income (loss) $ 7,065  $ (3,064)
The following table presents geographic information based upon revenues of the Company’s major geographic markets (in thousands):
Three Months Ended
March 31, 2022 March 31, 2021
Branded CPG:
North America $ 73,080  $ 51,970 
Europe 18,008  19,414 
India, Middle East and Africa 3,579  2,643 
Asia-Pacific 6,062  5,226 
Latin America 3,032  2,544 
Flavors & Ingredients 26,831  24,028 
Total product revenues, net $ 130,592  $ 105,825