Quarterly report pursuant to Section 13 or 15(d)

BUSINESS SEGMENTS

v3.21.1
BUSINESS SEGMENTS
3 Months Ended
Mar. 31, 2021
Segment Reporting [Abstract]  
BUSINESS SEGMENTS
NOTE 17: BUSINESS SEGMENTS
The Company has two reportable segments: Branded CPG and Flavors & Ingredients. In addition, beginning with the first quarter of 2021, the Company’s corporate office functions are now 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. Certain prior year amounts have been reclassified to conform to the current presentation. 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):
(Successor) (Predecessor)
Three Months Ended
March 31, 2021
Three Months Ended
March 31, 2020
Product revenues, net
Branded CPG $ 81,797  $ 40,219 
Flavors & Ingredients 24,028  25,753 
Total product revenues, net $ 105,825  $ 65,972 
Operating income (loss)
Branded CPG $ 10,159  $ (6,755)
Flavors & Ingredients 972  (24,010)
11,131  (30,765)
Corporate (14,195) (2,557)
Total operating income (loss) $ (3,064) $ (33,322)
The following table presents geographic information based upon revenues of the Company’s major geographic markets (in thousands):
(Successor) (Predecessor)
Three Months Ended
March 31, 2021
Three Months Ended
March 31, 2020
Branded CPG:
North America $ 51,970  $ 15,248 
Europe 19,414  15,970 
India, Middle East and Africa 2,643  2,056 
Asia-Pacific 5,226  4,172 
Latin America 2,544  2,773 
Flavors & Ingredients 24,028  25,753 
Total product revenues, net $ 105,825  $ 65,972