Quarterly report pursuant to Section 13 or 15(d)

BUSINESS SEGMENTS

v3.23.1
BUSINESS SEGMENTS
 3 Months Ended
Mar. 31, 2023
Segment Reporting [Abstract]  
BUSINESS SEGMENTS
NOTE 14: 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, 2023 March 31, 2022
Product revenues, net
Branded CPG $ 102,010  $ 103,761 
Flavors & Ingredients 30,407  26,831 
Total product revenues, net $ 132,417  $ 130,592 
Operating income
Branded CPG $ (843) $ 6,460 
Flavors & Ingredients 9,536  7,827 
8,693  14,287 
Corporate (5,692) (7,222)
Total operating income $ 3,001  $ 7,065 
The following table presents disaggregated revenue information for the Company (in thousands):
Three Months Ended
March 31, 2023 March 31, 2022
Branded CPG:
North America $ 74,054  $ 73,080 
Europe 15,969  18,008 
India, Middle East and Africa 3,153  3,579 
Asia-Pacific 5,815  6,062 
Latin America 3,019  3,032 
Flavors & Ingredients 30,407  26,831 
Total product revenues, net $ 132,417  $ 130,592