Quarterly report pursuant to Section 13 or 15(d)

BUSINESS SEGMENTS

v3.22.2.2
BUSINESS SEGMENTS
9 Months Ended
Sep. 30, 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 Nine Months Ended
September 30, 2022 September 30, 2021 September 30, 2022 September 30, 2021
Product revenues, net
Branded CPG $ 105,373  $ 102,693  $ 313,207  $ 283,585 
Flavors & Ingredients 29,907  26,248  86,168  77,674 
Total product revenues, net $ 135,280  $ 128,941  $ 399,375  $ 361,259 
Operating income
Branded CPG $ 5,518  $ 10,090  $ 17,555  $ 30,507 
Flavors & Ingredients 7,287  9,520  24,137  14,230 
12,805  19,610  41,692  44,737 
Corporate (5,983) (6,094) (20,115) (28,310)
Total operating income $ 6,822  $ 13,516  $ 21,577  $ 16,427 
The following table presents disaggregated revenue information for the Company (in thousands):
Three Months Ended Nine Months Ended
September 30, 2022 September 30, 2021 September 30, 2022 September 30, 2021
Branded CPG:
North America $ 75,823  $ 72,285  $ 220,071  $ 190,699 
Europe 15,223  18,197  51,479  58,135 
India, Middle East and Africa 4,526  3,267  13,007  9,522 
Asia-Pacific 5,607  5,732  17,650  16,552 
Latin America 4,194  3,212  11,000  8,677 
Flavors & Ingredients 29,907  26,248  86,168  77,674 
Total product revenues, net $ 135,280  $ 128,941  $ 399,375  $ 361,259