TREEHOUSE FOODS, INC., 10-K filed on 2/18/2016
Annual Report
v3.3.1.900
Document and Entity Information - USD ($)
 12 Months Ended
Dec. 31, 2015
Jan. 31, 2016
Jun. 30, 2015
Document Information [Line Items]      
Document Type 10-K    
Amendment Flag false    
Document Period End Date Dec. 31, 2015    
Document Fiscal Year Focus 2015    
Document Fiscal Period Focus FY    
Trading Symbol THS    
Entity Registrant Name TREEHOUSE FOODS, INC.    
Entity Central Index Key 0001320695    
Current Fiscal Year End Date --12-31    
Entity Well-known Seasoned Issuer Yes    
Entity Current Reporting Status Yes    
Entity Voluntary Filers No    
Entity Filer Category Large Accelerated Filer    
Entity Common Stock, Shares Outstanding   56,395,247  
Entity Public Float     $ 3,392,330,998
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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2015
Dec. 31, 2014
Current assets:    
Cash and cash equivalents $ 34,919 $ 51,981
Investments 8,388 9,148
Receivables, net of allowance for doubtful accounts of $582 and $1,333 203,198 233,656
Inventories, net 584,115 594,098
Prepaid expenses and other current assets 16,583 24,989
Total current assets 847,203 913,872
Property, plant, and equipment, net 541,528 543,778
Goodwill 1,649,794 1,667,985
Intangible assets, net 646,655 716,298
Other assets, net 17,616 16,389
Total assets 3,702,796 3,858,322
Current liabilities:    
Accounts payable and accrued expenses 260,580 296,860
Current portion of long-term debt 14,893 12,994
Total current liabilities 275,473 309,854
Long-term debt 1,221,741 1,437,749
Deferred income taxes 279,108 283,890
Other long-term liabilities 71,615 67,572
Total liabilities $ 1,847,937 $ 2,099,065
Commitments and contingencies (Note 19)
Stockholders' equity:    
Preferred stock, par value $.01 per share, 10,000 shares authorized, none issued $ 0 $ 0
Common stock, par value $.01 per share, 90,000 shares authorized, 43,126 and 42,663 shares issued and outstanding, respectively 431 427
Additional paid-in-capital 1,207,167 1,177,342
Retained earnings 760,729 645,819
Accumulated other comprehensive loss (113,468) (64,331)
Total stockholders' equity 1,854,859 1,759,257
Total liabilities and stockholders' equity $ 3,702,796 $ 3,858,322
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Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Thousands
Dec. 31, 2015
Dec. 31, 2014
Receivables, allowance for doubtful accounts $ 582 $ 1,333
Preferred stock, par value $ 0.01 $ 0.01
Preferred stock, shares authorized 10,000,000 10,000,000
Preferred stock, shares issued 0 0
Common stock, par value $ 0.01 $ 0.01
Common stock, shares authorized 90,000,000 90,000,000
Common stock, shares issued 43,125,563 42,663,000
Common stock, shares outstanding 43,125,563 42,663,000
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Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Net sales $ 3,206,405 $ 2,946,102 $ 2,293,927
Cost of sales 2,562,102 2,339,498 1,818,378
Gross profit 644,303 606,604 475,549
Operating expenses:      
Selling and distribution 180,503 174,602 134,998
General and administrative 161,649 158,793 121,065
Amortization expense 60,598 52,634 35,375
Other operating expense, net 1,817 2,421 5,947
Total operating expenses 404,567 388,450 297,385
Operating (loss) income 239,736 218,154 178,164
Other expense (income):      
Interest expense 45,474 42,036 49,304
Interest income (2,967) (990) (2,185)
Loss on foreign currency exchange 26,052 13,389 2,890
Loss on extinguishment of debt   22,019  
Other (income) expense, net (87) 5,130 3,245
Total other expense 68,472 81,584 53,254
Income before income taxes 171,264 136,570 124,910
Income taxes 56,354 46,690 37,922
Net income $ 114,910 $ 89,880 $ 86,988
Net earnings per basic share $ 2.67 $ 2.28 $ 2.39
Net earnings per diluted share $ 2.63 $ 2.23 $ 2.33
Weighted average shares - basic 43,052 39,348 36,418
Weighted average shares - diluted 43,709 40,238 37,396
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Consolidated Statements of Comprehensive Income - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2015
Sep. 30, 2015
 [1]
Jun. 30, 2015
 [2]
Mar. 31, 2015
Dec. 31, 2014
Sep. 30, 2014
 [1]
Jun. 30, 2014
 [2]
Mar. 31, 2014
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Net income $ 37,255 $ 28,441 $ 31,362 $ 17,852 $ 33,917 $ 19,882 $ 21,759 $ 14,322 $ 114,910 $ 89,880 $ 86,988
Other comprehensive (loss) income:                      
Foreign currency translation adjustments                 (49,186) (26,637) (22,682)
Pension and postretirement reclassification adjustment [3]                 49 (5,931) 7,451
Derivative reclassification adjustment [4]                     108
Other comprehensive (loss) income                 (49,137) (32,568) (15,123)
Comprehensive income (loss)                 $ 65,773 $ 57,312 $ 71,865
[1] The Company acquired Flagstone in July of 2014.
[2] The Company acquired Protenergy in May of 2014.
[3] Net of tax of $30, $(3,683), and $4,592 for the years ended December 31, 2015, 2014, and 2013, respectively.
[4] Net of tax of $68 for the year ended December 31, 2013.
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Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Pension and post-retirement reclassification adjustment, tax $ 30 $ (3,683) $ 4,592
Derivative reclassification adjustment, tax     $ 68
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Consolidated Statements of Stockholders' Equity - USD ($)
shares in Thousands, $ in Thousands
Total
Common Stock
Additional Paid-In Capital
Earnings
Accumulated Other Comprehensive Loss
Balance at Dec. 31, 2012 $ 1,179,255 $ 362 $ 726,582 $ 468,951 $ (16,640)
Balance (in shares) at Dec. 31, 2012   36,197      
Net income 86,988     86,988  
Other comprehensive loss (15,123)       (15,123)
Comprehensive income 71,865        
Equity awards exercised 5,863 $ 3 5,860    
Equity awards exercised, shares   296      
Stock-based compensation 16,135   16,135    
Balance at Dec. 31, 2013 1,273,118 $ 365 748,577 555,939 (31,763)
Balance (in shares) at Dec. 31, 2013   36,493      
Net income 89,880     89,880  
Other comprehensive loss (32,568)       (32,568)
Comprehensive income 57,312        
Shares issued 358,800 $ 50 358,750    
Shares issued, shares   4,950      
Equity awards exercised 44,948 $ 12 44,936    
Equity awards exercised, shares   1,220      
Stock-based compensation 25,079   25,079    
Balance at Dec. 31, 2014 1,759,257 $ 427 1,177,342 645,819 (64,331)
Balance (in shares) at Dec. 31, 2014   42,663      
Net income 114,910     114,910  
Other comprehensive loss (49,137)       (49,137)
Comprehensive income 65,773        
Equity awards exercised 6,952 $ 4 6,948    
Equity awards exercised, shares   463      
Stock-based compensation 22,877   22,877    
Balance at Dec. 31, 2015 $ 1,854,859 $ 431 $ 1,207,167 $ 760,729 $ (113,468)
Balance (in shares) at Dec. 31, 2015   43,126      
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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Cash flows from operating activities:      
Net income $ 114,910 $ 89,880 $ 86,988
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 61,469 63,281 73,267
Amortization 60,598 52,634 35,375
Stock-based compensation 22,877 25,067 16,118
Excess tax benefits from stock-based compensation (5,329) (17,593) (4,372)
Loss on extinguishment of debt   22,019  
Mark-to-market (gain) loss on derivative contracts (622) 3,051 (937)
Mark-to-market loss (gain) on investments 11 (724) (1,240)
Loss on disposition of assets 664 5,323 1,118
Deferred income taxes (6,006) 8,101 (11,894)
Loss on foreign currency exchange 26,052 13,389 2,890
Write-down of tangible assets 3,020   1,531
Other (1,554) 4,546 6,153
Changes in operating assets and liabilities, net of acquisitions:      
Receivables 21,531 (18,563) (9,270)
Inventories 17 (27,187) (11,387)
Prepaid expenses and other assets 20,948 (5,910) 2,656
Accounts payable, accrued expenses, and other liabilities (33,268) (5,357) 29,694
Net cash provided by operating activities 285,318 211,957 216,690
Cash flows from investing activities:      
Additions to property, plant, and equipment (72,734) (88,575) (74,780)
Additions to other intangible assets (13,362) (10,643) (6,403)
Acquisitions, less cash acquired   (993,009) (218,652)
Proceeds from sale of fixed assets 606 2,842 960
Purchase of investments (831) (584) (8,140)
Proceeds from sale of investments   63 165
Net cash (used in) provided by investing activities (86,321) (1,089,906) (306,850)
Cash flows from financing activities:      
Borrowings under Revolving Credit Facility 152,200 938,400 517,250
Payments under Revolving Credit Facility (353,200) (919,400) (375,250)
Proceeds from issuance of Term Loans A and A-1   500,000  
Payments on Term Loans A and A-1 (10,500) (4,000)  
Proceeds from issuance of 2022 Notes   400,000  
Payments on 2018 Notes   (400,000)  
Payments on other long-term debt     (100,000)
Payments on capitalized lease obligations and other debt (3,762) (3,195) (1,945)
Payments of deferred financing costs (242) (13,712)  
Payment of debt premium for extinguishment of debt   (16,693)  
Net proceeds from issuance of stock   358,364  
Net receipts related to stock-based award activities 1,834 27,832 1,291
Excess tax benefits from stock-based compensation 5,329 17,593 4,372
Other (215)    
Net cash (used in) provided by financing activities (208,556) 885,189 45,718
Effect of exchange rate changes on cash and cash equivalents (7,503) (1,734) (3,490)
Net (decrease) increase in cash and cash equivalents (17,062) 5,506 (47,932)
Cash and cash equivalents, beginning of year 51,981 46,475 94,407
Cash and cash equivalents, end of year $ 34,919 $ 51,981 $ 46,475
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Summary of Significant Accounting Policies
 12 Months Ended
Dec. 31, 2015
Summary of Significant Accounting Policies
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Consolidation — The Consolidated Financial Statements include the accounts of TreeHouse Foods, Inc. and its 100% owned direct and indirect subsidiaries (the “Company,” “TreeHouse,” “we,” “us,” or “our”). All intercompany balances and transactions are eliminated in consolidation. In 2014, as a result of the Flagstone acquisition, the Company added a new product category for Snacks. This change did not require prior period adjustments. See Note 22 for more information.

Use of Estimates — The preparation of our Consolidated Financial Statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to use judgment to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the Consolidated Financial Statements, and the reported amounts of net sales and expenses during the reporting period. Actual results could differ from these estimates.

Cash Equivalents — We consider temporary cash investments with an original maturity of three months or less to be cash equivalents. As of December 31, 2015 and 2014, $24.4 million and $31.6 million, respectively, represents cash held in Canada, in local currency, and is convertible into other currencies. The cash held in Canada is expected to be used for general corporate purposes in Canada, including capital projects and acquisitions.

Inventories — Inventories are stated at the lower of cost or market. Pickle inventories are valued using the LIFO method and Flagstone inventories are valued using the weighted average costing approach, while all of our other inventories are valued using the FIFO method. The costs of finished goods inventories include raw materials, labor, and overhead costs.

Property, plant, and equipment — Property, plant, and equipment are stated at acquisition cost, plus capitalized interest on borrowings during the actual construction period of major capital projects. Depreciation and amortization are calculated using the straight-line method over the estimated useful lives of the assets as follows:

 

Asset

   

Useful Life

Buildings and improvements

    12-40 years

Machinery and equipment

    3-15 years

Office furniture and equipment

    3-12 years

We perform impairment tests when circumstances indicate that the carrying value may not be recoverable. Capitalized leases are amortized over the shorter of their lease term or their estimated useful lives, and amortization expense is included in depreciation expense. Expenditures for repairs and maintenance, which do not improve or extend the life of the assets, are expensed as incurred.

Intangible and Other Assets — Identifiable intangible assets with finite lives are amortized over their estimated useful lives as follows:

 

Asset

   

Useful Life

Customer relationships

    Straight-line method over 5 to 20 years

Trademarks

    Straight-line method over 10 to 20 years

Non-competition agreements

    Straight-line method over the terms of the agreements

Deferred financing costs associated with line-of-credit arrangements

    Straight-line method over the terms of the arrangements

Formulas/recipes

    Straight-line method over 5 to 7 years

Computer software

    Straight-line method over 2 to 7 years

 

Indefinite lived trademarks are evaluated for impairment annually in the fourth quarter or more frequently, if events or changes in circumstances indicate that the asset might be impaired. Impairment is indicated when their book value exceeds fair value. If the fair value of an evaluated asset is less than its book value, the asset is written down to fair value, which is generally based on its discounted future cash flows.

Amortizable intangible assets are evaluated for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. If an evaluation of the undiscounted cash flows indicates impairment, the asset is written down to its estimated fair value, which is generally based on discounted future cash flows.

Goodwill is evaluated annually in the fourth quarter or more frequently, if events or changes in circumstances require an interim assessment. We assess goodwill for impairment (as of December 31) at the reporting unit level using market and income approaches, employing significant assumptions regarding growth, discount rates, and profitability at each reporting unit. The market approach uses a market multiple methodology employing revenues and earnings before interest, taxes, depreciation, and amortization (“EBITDA”) and applies a range of multiples to those amounts in determining the indicated fair value. In determining the multiples used in this approach, we obtain the multiples for selected peer companies using the most recent publically available information. Our estimates under the income approach are determined based on a discounted cash flow model. In determining the indicated fair value of each reporting unit, the Company weighs both the market and income approach results, with each approach given equal weighting. The resulting value is then compared to the carrying value of each reporting unit. If the book value of the reporting unit exceeds the indicated fair value, goodwill is then considered under the second step of the impairment test. In the second step, goodwill impairment is measured as the difference between the implied value of goodwill and its carrying value. The implied value of goodwill is determined based on a hypothetical analysis that calculates the fair value of goodwill as if the related reporting unit were being acquired in a business combination.

Stock-Based Compensation — We measure compensation expense for our equity awards at their grant date fair value. The resulting expense is recognized over the relevant service period. See Note 14.

Revenue Recognition — Sales are recognized when persuasive evidence of an arrangement exists, the price is fixed or determinable, title and risk of loss transfer to customers, and there is a reasonable assurance of collection of the sales proceeds. Product is shipped FOB shipping point or FOB destination, depending on our agreement with the customer. Sales are reduced by certain sales incentives, some of which are recorded by estimating expense based on our historical experience.

Accounts Receivable — We provide credit terms to customers generally ranging between 10 and 30 days, perform ongoing credit evaluations of our customers, and maintain allowances for potential credit losses based on historical experience. Customer balances are written off after all collection efforts are exhausted. Estimated product returns, which have not been material, are deducted from sales at the time of shipment.

Income Taxes — The provision for income taxes includes federal, foreign, state, and local income taxes currently payable, and those deferred because of temporary differences between the financial statement and tax bases of assets and liabilities. Deferred tax assets or liabilities are computed based on the difference between the financial statement and income tax bases of assets and liabilities using enacted tax rates. Valuation allowances are recorded to reduce deferred tax assets when it is more likely than not that a tax benefit will not be realized. Deferred income tax expenses or credits are based on the changes in the asset or liability from period to period.

Foreign Currency Translation and Transactions — The functional currency of the Company’s foreign operations is the applicable local currency. The functional currency is translated into U.S. dollars for balance sheet accounts using currency exchange rates in effect as of the balance sheet date, and for revenue and expense accounts using a weighted-average exchange rate during the fiscal year. The translation adjustments are deferred as a separate component of Stockholders’ equity in Accumulated other comprehensive loss. Gains or losses resulting from transactions denominated in foreign currencies are included in Other expense, net in the Consolidated Statements of Income.

Shipping and Handling Fees — Our shipping and handling costs are included in both cost of sales and selling and distribution expense, depending on the nature of such costs. Shipping and handling costs included in cost of sales reflect inventory warehouse costs, product loading and handling costs, and costs associated with transporting finished products from our manufacturing facilities to distribution warehouses. Shipping and handling costs included in selling and distribution expense consist primarily of the cost of shipping products to customers through third party carriers. Shipping and handling costs recorded as a component of selling and distribution expense were approximately $87.2 million, $80.0 million, and $55.3 million for the years ended December 31, 2015, 2014, and 2013, respectively.

Derivative Financial Instruments — From time to time, we utilize derivative financial instruments including interest rate and commodity swaps, foreign currency contracts, and forward purchase contracts to manage our exposure to interest rate, foreign currency, and commodity price risks. We do not hold or issue financial instruments for speculative or trading purposes. The Company accounts for its derivative instruments as either assets or liabilities and carries them at fair value. Derivatives that are not designated as hedges according to GAAP must be adjusted to fair value through earnings. For derivative instruments that are designated as cash flow hedges, the effective portion of the gain or loss is reported as Accumulated other comprehensive loss and reclassified into earnings in the same period when the hedged transaction affects earnings. The ineffective gain or loss is recognized in current earnings. Commodity forward contracts generally qualify for the normal purchases and normal sales scope exception under the guidance for derivative instruments and hedging activities, and therefore are not subject to its provisions. For further information about our derivative instruments, see Note 20.

Capital Lease Obligations — Capital lease obligations represent machinery and equipment financing obligations, which are generally payable in monthly installments of principal and interest, and are collateralized by the related assets financed.

Insurance Accruals — We retain selected levels of property and casualty risks, primarily related to employee health care, workers’ compensation claims, and other casualty losses. Many of these potential losses are covered under conventional insurance programs with third party carriers having high deductible limits. In other areas, we are self-insured with stop-loss coverage. Accrued liabilities for incurred but not reported losses related to these retained risks are calculated based upon loss development factors that consider a number of elements, including claims history and expected trends. We develop these accruals with external insurance brokers and actuaries.

Facility Closing and Reorganization Costs — We periodically record facility closing and reorganization charges when we have identified a facility for closure or other reorganization opportunity, developed a plan, and notified the affected employees. These charges are incurred as a component of operating income. See Note 3 for more information.

Research and Development Costs — We record research and development charges to expense as they are incurred and report them in the General and administrative expense line of our Consolidated Statements of Income. Expenditures totaled $14.3 million, $12.8 million, and $17.5 million for the years ended December 31, 2015, 2014, and 2013, respectively.

Advertising Costs — Advertising costs are expensed as incurred and reported in the Selling and distribution expense line of our Consolidated Statements of Income.
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Recently Issued Accounting Pronouncements
 12 Months Ended
Dec. 31, 2015
Recently Issued Accounting Pronouncements
2. RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS

Adopted

In November 2015, the FASB issued ASU No. 2015-17, Balance Sheet Classification of Deferred Taxes, which simplifies the presentation of deferred income taxes in a classified statement of financial position by requiring that all deferred income tax assets and liabilities be classified as noncurrent. Although the ASU is effective for fiscal years beginning after December 15, 2016, earlier application is permitted. The Company retrospectively adopted this ASU for the fiscal 2015 reporting period, which resulted in the reclassification of deferred income tax assets in the Consolidated Balance Sheets for all periods presented. The adoption of the ASU had no impact on the Consolidated Statements of Income. See Note 10 for additional details.

In August 2015, the FASB issued ASU No. 2015-15, Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements, which clarifies the Securities and Exchange Commission’s (“SEC”) position on the presentation and measurement of debt issuance costs incurred in connection with line-of-credit arrangements. The ASU clarifies that the SEC will not object to an entity deferring and presenting debt issuance costs as an asset and subsequently amortizing the deferred debt issuance costs ratably over the term of the line-of-credit arrangement. This ASU is effective upon issuance and did not change how the Company historically reported its deferred issuance costs incurred in connection with its line of credit.

In April 2015, the FASB issued ASU No. 2015-07, Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent), which removes the requirement to categorize investments within the fair value hierarchy for which fair value is measured using the net asset value per share practical expedient discussed in ASC 820-10-35. The ASU also limits required disclosures to investments for which an entity has elected to measure fair value using the practical expedient. Under current guidance, certain disclosures are required for all investments eligible to be measured at fair value using the net asset value per share practical expedient. Although the ASU is effective for fiscal years beginning after December 15, 2015, earlier application is permitted. The Company retrospectively adopted this ASU for the fiscal 2015 reporting period, which resulted in the removal of disclosures with regard to the categorization within the fair value hierarchy for certain investments measured using the practical expedient for all periods presented. The adoption of this ASU had no impact on the Consolidated Balance Sheets and Consolidated Statements of Income. See Note 16 for additional details.

In April 2015, the FASB issued ASU No. 2015-03, Interest — Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs, which changes the presentation of debt issuance costs in the balance sheet. Under the ASU, an entity will present debt issuance costs as a direct deduction of the related debt liability with the amortization of the debt issuance costs reported as interest expense. Under current guidance, debt issuance costs are reported separately as an asset with the amortization recorded as interest expense. Although the ASU is effective for fiscal years beginning after December 15, 2015, earlier application is permitted. The Company retrospectively adopted this ASU for the fiscal 2015 reporting period, which resulted in the reclassification of certain debt issuance costs not associated with line-of-credit arrangements in the Consolidated Balance Sheets for all periods presented. The adoption of this ASU had no impact on the Consolidated Statements of Income. See Note 11 for additional details.

Not yet adopted

In September 2015, the FASB issued ASU No. 2015-16, Simplifying the Accounting for Measurement-Period Adjustments, to simplify the accounting for adjustments made to provisional amounts. This ASU requires that an acquirer recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined. The ASU also requires acquirers to present separately on the face of the income statement, or disclose in the notes, the portion of the amount recorded in current-period earnings by line item that would have been recorded in previous reporting periods if the adjustment to the provisional amounts had been recognized as of the acquisition date. This ASU is effective for fiscal periods beginning after December 15, 2015. The Company will apply this guidance prospectively, beginning January 1, 2016.

In July 2015, the FASB issued ASU No. 2015-11, Simplifying the Measurement of Inventory, which requires entities to measure inventory at the lower of cost and net realizable value (“NRV”). This ASU will not apply to inventory valued under the last-in-first-out method. Under current guidance, an entity is required to measure inventory at the lower of cost or market, with market defined as replacement cost, NRV, or NRV less a normal profit margin. The three market measurements added complexity and reduced comparability in the valuation of inventory. FASB issued this ASU as part of its simplification initiative to address these issues. The ASU is effective for fiscal years, and interim periods within those years, beginning after December 15, 2016. The Company is in the process of evaluating the impact of the standard.

In August 2014, the FASB issued ASU No. 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern, providing additional guidance surrounding the disclosure of going concern uncertainties in the financial statements and implementing requirements for management to perform interim and annual assessments of an entity’s ability to continue as a going concern within one year of the date the financial statements are issued. The ASU is effective for fiscal years, and interim periods within those years, beginning after December 15, 2016. The Company does not anticipate the adoption of the ASU will result in additional disclosures, however, management will begin performing the periodic assessments required by the ASU on its effective date.

In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers, which introduced a new framework to be used when recognizing revenue in an attempt to reduce complexity and increase comparability of revenue recognition practices across entities, industries, jurisdictions, and capital markets. The ASU is effective for fiscal years, and interim periods within those years, beginning after December 15, 2017. The standard requires that entities apply the effects of these changes to all prior years presented, upon adoption, using either the full retrospective method, which presents the impact of the change separately in each prior year presented, or the modified retrospective method, which includes the cumulative changes to all prior years presented in beginning retained earnings in the year of initial adoption. The Company has not yet determined which of the two adoption methods to elect. The Company is currently assessing the impact that this standard will have upon adoption.
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Restructuring
 12 Months Ended
Dec. 31, 2015
Restructuring
3. RESTRUCTURING

City of Industry, California — On November 18, 2015, the Company announced the planned closing of the City of Industry, California facility after reviewing the operation and identifying an opportunity to lower production costs. Production at the facility, which primarily relates to liquid non-dairy creamer and refrigerated salad dressings in the Food Away From Home segment, is expected to cease in the first quarter of 2016, with full closure of the facility expected in the third quarter of 2016. Production will be moved to other Company-owned manufacturing facilities, as well as to third-party co-manufacturers. Total costs to close the City of Industry facility are expected to be approximately $10.9 million as detailed below, of which approximately $7.2 million is expected to be in cash. Expenses associated with the facility closure are primarily aggregated in the Other operating expense, net line of the Consolidated Statements of Income, with the exception of asset-related costs, which are recorded in Cost of sales.

 

Below is a summary of the plant closing costs:

 

     City of Industry Closure  
     Year Ended
December 31, 2015		      Cumulative Costs
To Date		      Total Expected
Costs		  
     (In thousands)  

Asset-related

    $ 3,020       $ 3,020       $ 3,716   

Employee-related

      1,162         1,162         1,964   

Other closure costs

      29         29         5,189   
  

 

 

     

 

 

     

 

 

  

Total

    $ 4,211       $ 4,211       $ 10,869   
  

 

 

     

 

 

     

 

 

  

As of December 31, 2015, the Company has accrued $0.4 million of severance and $0.8 million with respect to a partial withdrawal liability from a multiemployer pension plan. No payments have been made with respect to these accruals.

Soup restructuring — In August of 2012, following a strategic review of the soup category, the Company announced a restructuring plan that included reductions to the cost structure of the Pittsburgh, Pennsylvania facility by reorganizing and simplifying the soup business there and the closure of the Mendota, Illinois soup plant. The restructuring has reduced manufacturing costs by streamlining operations and transferring production from the Mendota plant to the Pittsburgh plant. Production at the Mendota facility was primarily related to the North American Retail Grocery segment and ended as of December 31, 2012, with full plant closure in the second quarter of 2013. The Company incurred approximately $0.6 million of closure costs with respect to this project in 2015 and $1.5 million in 2014. Expenses incurred associated with the facility closure are primarily aggregated in the Other operating expense, net line of the Consolidated Statements of Income. The restructuring is substantially complete.

Seaforth, Ontario, Canada — On August 7, 2012, the Company announced the closure of its salad dressing plant in Seaforth, Ontario, Canada, and the transfer of production to facilities where the Company has lower production costs. Production at the Seaforth, Ontario facility was primarily related to the North American Retail Grocery segment and ended in the fourth quarter of 2013, with full plant closure occurring in the first quarter of 2014. The Company incurred $0.9 million of closure costs with respect to this project in 2014 and none in 2015. Expenses incurred associated with the facility closure are primarily aggregated in the Other operating expense, net line of the Consolidated Statements of Income. This restructuring is complete.
v3.3.1.900
Acquisitions
 12 Months Ended
Dec. 31, 2015
Acquisitions
4. ACQUISITIONS

Flagstone

On July 29, 2014, the Company acquired all of the outstanding shares of Flagstone, a privately owned U.S. based manufacturer of branded and private label varieties of snack nuts, trail mixes, dried fruit, snack mixes, and other wholesome snacks. Flagstone is one of the largest manufacturers and distributors of private label wholesome snacks in the United States, and is the largest manufacturer of trail mix and dried fruits in the United States. The purchase price was approximately $854.2 million, net of acquired cash, after adjustments for working capital. The acquisition was financed through additional borrowings and the issuance of common stock. The acquisition expanded our existing product offerings by providing the Company with an entrance into the wholesome snack food category, while also providing more exposure to the perimeter of the store.

The Flagstone acquisition is accounted for under the acquisition method of accounting and the results of operations are included in our financial statements from the date of acquisition in the North American Retail Grocery and Industrial and Export segments. Included in the Company’s Consolidated Statements of Income are Flagstone’s net sales of approximately $287.3 million and net income of $3.8 million from the date of acquisition through December 31, 2014. Net income was partially offset by integration costs of $10.3 million.

We have completed the allocation of the purchase price to net tangible and intangible assets acquired and liabilities assumed as follows:

 

     (In thousands)  

Cash

    $ 902   

Receivables

      55,640   

Inventory

      128,224   

Property, plant, and equipment

      37,154   

Customer relationships

      231,700   

Trade names

      6,300   

Supplier relationships

      2,500   

Software

      1,755   

Formulas

      1,600   

Other assets

      35,081   

Goodwill

      511,274   
  

 

 

  

Fair value of assets acquired

      1,012,130   

Deferred taxes

      (81,602 ) 

Assumed liabilities

      (75,397 ) 
  

 

 

  

Total purchase price

    $ 855,131   
  

 

 

  

The Company allocated $231.7 million to customer relationships and $6.3 million to trade names, each of which have an estimated life of 15 years. The Company allocated $1.6 million to recipes and formulas, which have an estimated life of 5 years. The Company allocated $1.8 million to capitalized software with an estimated life of 1 year. The aforementioned intangibles are amortized on a straight line basis. The Company allocated $2.5 million to supplier relationships, which are amortized in a method reflecting the pattern in which the economic benefits of the intangible asset are consumed over the period of one year. The Company has allocated all $511.3 million of goodwill to the North American Retail Grocery segment. Goodwill arises principally as a result of expansion opportunities related to Flagstone’s product offerings in the snacking category. None of the goodwill resulting from this acquisition is tax deductible. The Company incurred approximately $8.9 million in acquisition costs during the year ended December 31, 2014 and none in 2015. These costs are included in the General and administrative expense line of the Consolidated Statements of Income. Since the initial preliminary purchase price allocation included in the Company’s annual report for the year ended December 31, 2014, net adjustments of $5.7 million were made to decrease the fair values of the assets acquired and liabilities assumed with corresponding adjustments to goodwill.

 

The following unaudited pro forma information shows the results of operations for the Company as if its acquisition of Flagstone had been completed as of January 1, 2014. Adjustments have been made for the pro forma effects of depreciation and amortization of tangible and intangible assets recognized as part of the business combination, the issuance of common stock, interest expense related tangible and intangible assets recognized as part of the business combination, the issuance of common stock, interest expense related to the financing of the business combination, and related income taxes. The pro forma results may not necessarily reflect actual results of operations that would have been achieved, nor are they necessarily indicative of future results of operations.

 

     Year Ended
December 31, 2014		  
    

(In thousands,

except per share data)

  

Pro forma net sales

    $ 3,332,108   
  

 

 

  

Pro forma net income

    $ 82,812   
  

 

 

  

Pro forma basic earnings per common share

    $ 1.97   
  

 

 

  

Pro forma diluted earnings per common share

    $ 1.93   
  

 

 

  

Protenergy

On May 30, 2014, the Company acquired all of the outstanding shares of Protenergy, a privately owned Canadian based manufacturer of broths, soups, and gravies. Protenergy specializes in providing products in carton and recart packaging for both private label and corporate brands, and also serves as a co-manufacturer of national brands. The Company paid $140.1 million, net of acquired cash, for the purchase of Protenergy. The acquisition was financed through borrowings under the Revolving Credit Facility. The acquisition expanded our existing packaging capabilities and enables us to offer customers a full range of soup products, as well as leverage our research and development capabilities in the evolution of shelf stable liquids packaging from cans to cartons.

The Protenergy acquisition is accounted for under the acquisition method of accounting and the results of operations are included in our financial statements from the date of acquisition in the North American Retail Grocery and Industrial and Export segments. Included in the Company’s Consolidated Statements of Income are Protenergy’s net sales of approximately $116.4 million from the date of acquisition through December 31, 2014. Also included is a net loss of $2.8 million from the date of acquisition through December 31, 2014. This loss includes integration costs of $6.1 million.

We have completed the allocation of the purchase price to net tangible and intangible assets acquired and liabilities assumed as follows:

 

     (In thousands)  

Cash

    $ 2,580   

Receivables

      10,949   

Inventory

      38,283   

Property, plant, and equipment

      36,355   

Customer relationships

      49,516   

Software

      1,483   

Formulas

      433   

Other assets

      2,425   

Goodwill

      50,728   
  

 

 

  

Fair value of assets acquired

      192,752   

Assumed liabilities

      (42,412 ) 

Unfavorable contractual agreements

      (7,643 ) 
  

 

 

  

Total purchase price

    $ 142,697   
  

 

 

  

 

The Company allocated $49.5 million to customer relationships that have an estimated life of 15 years and $0.4 million to formulas with an estimated life of 5 years. These intangible assets are amortized on a straight line basis. The Company recorded $7.6 million of unfavorable contractual agreements, which have an estimated life of 2.6 years. These unfavorable contracts are amortized in a method reflecting the pattern in which the economic costs are incurred. As of the acquisition date, the Company has allocated all $50.7 million of goodwill to the North American Retail Grocery segment. Goodwill arises principally as a result of expansion opportunities, driven in part by Protenergy’s packaging technology. None of the goodwill resulting from this acquisition is tax deductible. The Company incurred approximately $3.3 million in acquisition costs during the year ended December 31, 2014 and none in 2015. These costs are included in the General and administrative expense line of the Consolidated Statements of Income.

Since the initial preliminary purchase price allocation included in the Company’s annual report for the year ended December 31, 2014, net adjustments of $0.2 million were made to increase the fair values of the assets acquired and liabilities assumed with corresponding adjustments to goodwill.

The following unaudited pro forma information shows the results of operations for the Company as if the acquisition of Protenergy had been completed as of January 1, 2014. Adjustments have been made for the pro forma effects of depreciation and amortization of tangible and intangible assets recognized as part of the business combination, interest expense related to the financing of the business combination, and related income taxes. These pro forma results may not necessarily reflect actual results of operations that would have been achieved, nor are they necessarily indicative of future results of operations.

 

     Year Ended
December 31, 2014		  
    

(In thousands,

except per share data)

  

Pro forma net sales

    $ 3,006,860   
  

 

 

  

Pro forma net income

    $ 82,320   
  

 

 

  

Pro forma basic earnings per common share

    $ 2.09   
  

 

 

  

Pro forma diluted earnings per common share

    $ 2.05   
  

 

 

  
v3.3.1.900
Investments
 12 Months Ended
Dec. 31, 2015
Investments
5. INVESTMENTS

 

     December 31,  
     2015      2014  
     (In thousands)  

U.S. equity

    $ 5,283       $ 5,749   

Non-U.S. equity

      1,574         1,692   

Fixed income

      1,531         1,707   
  

 

 

     

 

 

  

Total investments

    $ 8,388       $ 9,148   
  

 

 

     

 

 

  

We determine the appropriate classification of our investments at the time of purchase and reevaluate such designation as of each balance sheet date. The Company accounts for investments in debt and marketable equity securities as held-to-maturity, available-for-sale, or trading, depending on their classification. The investments held by the Company are classified as trading securities and are stated at fair value, with changes in fair value recorded as a component of the Interest income or Interest expense line on the Consolidated Statements of Income. Cash flows from purchases, sales, and maturities of trading securities are included in cash flows from investing activities in the Consolidated Statements of Cash Flows based on the nature and purpose for which the securities were acquired.

 

Our investments include U.S. equity, non-U.S. equity, and fixed income securities that are classified as short-term investments on the Consolidated Balance Sheets. The U.S. equity, non-U.S. equity, and fixed income securities are classified as short-term investments as they have characteristics of other current assets and are actively managed.

We consider temporary cash investments with an original maturity of three months or less to be cash equivalents. As of December 31, 2015 and December 31, 2014, $24.4 million and $31.6 million, respectively, represents cash and cash equivalents held in Canada in local currency and are convertible into other currencies. The cash and cash equivalents held in Canada are expected to be used for general corporate purposes in Canada, including capital projects and acquisitions.

For the year ended December 31, 2015, we recognized unrealized losses totaling $1.3 million that are included in the Interest expense line of the Consolidated Statements of Income and $1.3 million in unrealized gains that are included in the Interest income line of the Consolidated Statements of Income. Additionally, for the year ended December 31, 2015, we recognized a realized gain on investments totaling $0.2 million that was included in the Interest income line of the Consolidated Statements of Income. When securities are sold, their cost is determined based on the FIFO method.
v3.3.1.900
Inventories
 12 Months Ended
Dec. 31, 2015
Inventories
6. INVENTORIES

 

     December 31,  
     2015      2014  
     (In thousands)  

Raw materials and supplies

    $ 274,007       $ 279,745   

Finished goods

      331,535         334,856   

LIFO reserve

      (21,427 )       (20,503 ) 
  

 

 

     

 

 

  

Total inventories

    $ 584,115       $ 594,098   
  

 

 

     

 

 

  

Approximately $88.1 million and $87.4 million of our inventory was accounted for under the LIFO method of accounting at December 31, 2015 and 2014, respectively. The LIFO reserve reflects the excess of the current cost of LIFO inventories at December 31, 2015 and 2014, over the amount at which these inventories were valued on the consolidated balance sheets. No LIFO inventory liquidation occurred in 2015 or 2014. Approximately $128.9 and $117.3 million of our net inventory was accounted for using the weighted average costing approach at December 31, 2015 and 2014, respectively.
v3.3.1.900
Property, Plant, and Equipment
 12 Months Ended
Dec. 31, 2015
Property, Plant, and Equipment
7. PROPERTY, PLANT, AND EQUIPMENT

 

     December 31,  
     2015      2014  
     (In thousands)  

Land

    $ 25,954       $ 27,097   

Buildings and improvements

      226,134         209,117   

Machinery and equipment

      681,711         644,333   

Construction in progress

      24,493         35,010   
  

 

 

     

 

 

  

Total

      958,292         915,557   

Less accumulated depreciation

      (416,764 )       (371,779 ) 
  

 

 

     

 

 

  

Property, plant, and equipment, net

    $ 541,528       $ 543,778   
  

 

 

     

 

 

  

 

Depreciation expense was $61.5 million, $63.3 million, and $73.3 million in 2015, 2014, and 2013, respectively.
v3.3.1.900
Goodwill and Intangible Assets
 12 Months Ended
Dec. 31, 2015
Goodwill and Intangible Assets
8. GOODWILL AND INTANGIBLE ASSETS

Changes in the carrying amount of goodwill for the years ended December 31, 2015 and 2014 are as follows:

 

     North American
Retail Grocery		      Food Away
From Home		      Industrial
and Export		      Total  
     (In thousands)  

Balance at January 1, 2014

    $ 884,768       $ 95,572       $ 138,864       $ 1,119,204   

Acquisitions

      556,599         —           —           556,599   

Purchase price adjustments

      5,991         (61 )       (116 )       5,814   

Reallocation of goodwill

      4,461         96         (4,557 )       —     

Foreign currency exchange adjustments

      (12,343 )       (1,184 )       (105 )       (13,632 ) 
  

 

 

     

 

 

     

 

 

     

 

 

  

Balance at December 31, 2014

      1,439,476         94,423         134,086         1,667,985   

Purchase price adjustments

      5,556         —           —           5,556   

Foreign currency exchange adjustments

      (21,591 )       (2,156 )       —           (23,747 ) 
  

 

 

     

 

 

     

 

 

     

 

 

  

Balance at December 31, 2015

    $ 1,423,441       $ 92,267       $ 134,086       $ 1,649,794   
  

 

 

     

 

 

     

 

 

     

 

 

  

The Company has not incurred any goodwill impairments since its inception.

Approximately $333.3 million of goodwill is deductible for tax purposes.

The carrying amounts of our intangible assets with indefinite lives, other than goodwill, as of December 31, 2015 and 2014 are as follows:

 

     December 31,  
     2015      2014  
     (In thousands)  

Trademarks

    $ 25,229       $ 28,995   
  

 

 

     

 

 

  

Total indefinite lived intangibles

    $ 25,229       $ 28,995   
  

 

 

     

 

 

  

The decrease in the indefinite lived intangibles balance is due to foreign currency translation. Our 2015 and 2014 impairment reviews of indefinite lived intangible assets resulted in no impairment.

The gross carrying amounts and accumulated amortization of intangible assets, with finite lives, as of December 31, 2015 and 2014 are as follows:

 

     December 31,  
     2015      2014  
     Gross
Carrying
Amount		      Accumulated
Amortization		     Net
Carrying
Amount		      Gross
Carrying
Amount		      Accumulated
Amortization		     Net
Carrying
Amount		  
     (In thousands)  

Intangible assets with finite lives:

                

Customer-related (1)

    $ 769,419       $ (208,962 )    $ 560,457       $ 794,300       $ (168,462 )    $ 625,838   

Contractual agreements (2)

      2,964         (2,831 )      133         2,829         (2,396 )      433   

Trademarks (3)

      32,240         (11,091 )      21,149         32,579         (9,041 )      23,538   

Formulas/recipes (4)

      10,471         (7,824 )      2,647         10,763         (7,138 )      3,625   

Computer software (5)

      78,039         (40,999 )      37,040         65,202         (31,333 )      33,869   
  

 

 

     

 

 

    

 

 

     

 

 

     

 

 

    

 

 

  

Total other intangibles

    $ 893,133       $ (271,707 )    $ 621,426       $ 905,673       $ (218,370 )    $ 687,303   
  

 

 

     

 

 

    

 

 

     

 

 

     

 

 

    

 

 

  

 

As of December 31, 2015, the weighted average remaining useful lives for the amortizable intangible assets are (1) customer-related at 13.0 years, (2) contractual agreements at 2.3 years, (3) trademarks at 10.9 years, (4) formulas/recipes at 3.8 years, and (5) computer software at 4.4 years. The weighted average remaining useful life in total for all amortizable intangible assets is 12.5 years as of December 31, 2015.

Total intangible assets, excluding goodwill, as of December 31, 2015 and 2014 were $646.7 million and $716.3 million, respectively. Amortization expense on intangible assets was $60.6 million, $52.6 million, and $35.4 million, for the years ended December 31, 2015, 2014, and 2013, respectively. Estimated amortization expense on intangible assets for the next five years is as follows:

 

     (In thousands)  

2016

    $ 59,120   

2017

    $ 58,200   

2018

    $ 52,555   

2019

    $ 51,117   

2020

    $ 49,677   

Considerable management judgment is necessary to evaluate the impact of operating changes and to estimate future cash flows. Assumptions used in our impairment evaluations, such as forecasted growth rates and our cost of capital, are consistent with our internal projections and operating plans.
v3.3.1.900
Accounts Payable and Accrued Expenses
 12 Months Ended
Dec. 31, 2015
Accounts Payable and Accrued Expenses
9. ACCOUNTS PAYABLE AND ACCRUED EXPENSES

 

     December 31,  
     2015      2014  
     (In thousands)  

Accounts payable

    $ 202,065       $ 217,226   

Payroll and benefits

      27,467         38,669   

Interest

      6,241         6,507   

Taxes

      1,499         5,947   

Health insurance, workers’ compensation, and other insurance costs

      9,331         8,602   

Marketing expenses

      7,435         12,479   

Other accrued liabilities

      6,542         7,430   
  

 

 

     

 

 

  

Total

    $ 260,580       $ 296,860   
  

 

 

     

 

 

  
v3.3.1.900
Income Taxes
 12 Months Ended
Dec. 31, 2015
Income Taxes
10. INCOME TAXES

Components of income before income taxes are as follows:

 

     Year Ended December 31,  
     2015      2014      2013  
     (In thousands)  

Domestic source

    $ 179,445       $ 147,452       $ 128,685   

Foreign source

      (8,181 )       (10,882 )       (3,775 ) 
  

 

 

     

 

 

     

 

 

  

Income before income taxes

    $ 171,264       $ 136,570       $ 124,910   
  

 

 

     

 

 

     

 

 

  

 

The following table presents the components of the 2015, 2014, and 2013 provision for income taxes:

 

     Year Ended December 31,  
     2015      2014      2013  
     (In thousands)  

Current:

         

Federal

    $ 57,237       $ 34,447       $ 41,161   

State

      9,276         5,771         8,185   

Foreign

      (4,153 )       (1,629 )       470   
  

 

 

     

 

 

     

 

 

  

Total current

      62,360         38,589         49,816   

Deferred:

         

Federal

      (5,721 )       8,176         (8,236 ) 

State

      (2,002 )       605         (3,404 ) 

Foreign

      1,717         (680 )       (254 ) 
  

 

 

     

 

 

     

 

 

  

Total deferred

      (6,006 )       8,101         (11,894 ) 
  

 

 

     

 

 

     

 

 

  

Total income tax expense

    $ 56,354       $ 46,690       $ 37,922   
  

 

 

     

 

 

     

 

 

  

The following is a reconciliation of income tax expense computed at the U.S. federal statutory tax rate to the income tax expense reported in the Consolidated Statements of Income:

 

     Year Ended December 31,  
     2015      2014      2013  
     (In thousands)  

Tax at statutory rate

    $ 59,942       $ 47,800       $ 43,719   

State income taxes

      4,728         4,145         3,108   

Tax benefit of cross-border intercompany financing structure

      (3,962 )       (4,579 )       (4,909 ) 

Domestic production activities deduction

      (5,423 )       (4,173 )       (3,880 ) 

Other, net

      1,069         3,497         (116 ) 
  

 

 

     

 

 

     

 

 

  

Total provision for income taxes

    $ 56,354       $ 46,690       $ 37,922   
  

 

 

     

 

 

     

 

 

  

The tax effects of temporary differences giving rise to deferred income tax assets and liabilities were:

 

     December 31,  
     2015      2014  
     (In thousands)  

Deferred tax assets:

      

Pension and postretirement benefits

    $ 7,373       $ 8,569   

Accrued liabilities

      13,639         16,277   

Stock compensation

      16,644         15,516   

Unrealized foreign exchange loss

      7,449         3,966   

Loss and credit carryovers

      5,584         14,732   

Other

      16,279         12,269   
  

 

 

     

 

 

  

Total deferred tax assets

      66,968         71,329   

Deferred tax liabilities:

      

Fixed assets and intangible assets

      (346,076 )       (355,219 ) 
  

 

 

     

 

 

  

Total deferred tax liabilities

      (346,076 )       (355,219 ) 
  

 

 

     

 

 

  

Net deferred income tax liability

    $ (279,108 )     $ (283,890 ) 
  

 

 

     

 

 

  

 

As described in Note 2, the Company retrospectively adopted ASU 2015-17, which resulted in the reclassification of deferred income tax assets in the Consolidated Balance Sheets for all periods presented. This change decreased non-current liabilities by $35.6 million as of December 31, 2014, with a corresponding decrease in current assets.

The Company or one of its subsidiaries files income tax returns in the U.S. federal, Canada and various U.S. state jurisdictions. In the U.S. federal jurisdiction, the Company is open to examination for the tax year ended December 31, 2013 and forward; for Canadian purposes, the Company is open to examination for the tax year ended December 31, 2010 and forward and for the various U.S. state jurisdictions the Company is generally open to examination for the tax year ended December 31, 2011 and forward.

During the third quarter of 2015, the Internal Revenue Service (“IRS”) initiated an examination of Flagstone Foods, Inc.’s pre-acquisition 2013 tax year. The Canadian Revenue Agency (“CRA”) is currently examining the 2008 through 2013 tax years of E.D. Smith. The IRS and CRA examinations are expected to be completed in 2016 or 2017. The Company has examinations in process with various state taxing authorities, which are expected to be complete in 2016.

Management estimates that it is reasonably possible that the total amount of unrecognized tax benefits could decrease by as much as $1.5 million within the next 12 months, primarily as a result of the resolution of audits currently in progress and the lapsing of statutes of limitations.

During the year, the Company recorded adjustments to its unrecognized tax benefits. A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:

 

     Year Ended December 31,  
     2015      2014      2013  
     (In thousands)  

Unrecognized tax benefits beginning balance

    $ 13,211       $ 12,499       $ 9,528   

Additions based on tax positions related to the current year

      55         476         8,834   

Additions based on tax positions of prior years

      1,549         83         1,001   

Additions resulting from acquisitions

      6,391         11,366         —     

Reductions for tax positions of prior years

      (1,384 )       (11,163 )       (6,350 ) 

Payments

      —           (50 )       (514 ) 

Foreign currency translation

      (280 )       —           —     
  

 

 

     

 

 

     

 

 

  

Unrecognized tax benefits ending balance

    $ 19,542       $ 13,211       $ 12,499   
  

 

 

     

 

 

     

 

 

  

Unrecognized tax benefits are included in Other long-term liabilities in the Company’s Consolidated Balance Sheets. Included in the balance at December 31, 2015 are amounts that are offset by deferred taxes (i.e., temporary differences). Of the amount accrued at December 31, 2015 and December 31, 2014, $7.1 million and $5.2 million, respectively, would impact the effective tax rate if reversed.

The Company has income tax net operating loss carryforwards related to its domestic and international operations which have a 20 year definite life. The Company has recorded a deferred asset of $3.9 million reflecting the benefit of $13.0 million in loss carryforwards. All of the loss carryforwards expire between 2032 and 2034.

The Company recognizes interest expense (income) and penalties related to unrecognized tax benefits in income tax expense. During the years ended December 31, 2015, 2014, and 2013, the Company recognized $0.1 million, $(0.1) million, and $(0.2) million of interest and penalties in income tax expense, respectively. The Company has accrued approximately $0.6 million and $0.3 million for the payment of interest and penalties at December 31, 2015 and 2014, respectively.

As of December 31, 2015, approximately $98.8 million of undistributed earnings of the Company’s foreign subsidiaries were deemed to be indefinitely reinvested and, accordingly, any applicable U.S. federal income taxes and foreign withholding taxes have not been provided on these earnings. If these earnings had not been indefinitely reinvested, deferred taxes of approximately $33.8 million would have been recognized.

During the first quarter of 2008, the Company entered into an intercompany financing structure that results in the recognition of foreign earnings subject to a low effective tax rate. As the foreign earnings are permanently reinvested, U.S. income taxes have not been provided. For the years ended December 31, 2015 and 2014, the Company recognized a tax benefit of approximately $4.0 million and $4.6 million, respectively, related to this item.
v3.3.1.900
Long-Term Debt
 12 Months Ended
Dec. 31, 2015
Long-Term Debt
11. LONG-TERM DEBT

 

     December 31,  
     2015      2014  
     (In thousands)  

Revolving Credit Facility

    $ 353,000       $ 554,000   

Term Loan A

      295,500         298,500   

Term Loan A-1

      190,000         197,500   

2022 Notes

      400,000         400,000   

Tax increment financing and other debt

      6,002         9,861   
  

 

 

     

 

 

  

Total outstanding debt

      1,244,502         1,459,861   

Deferred financing costs

      (7,868 )       (9,118 ) 

Less current portion

      (14,893 )       (12,994 ) 
  

 

 

     

 

 

  

Total long-term debt

    $ 1,221,741       $ 1,437,749   
  

 

 

     

 

 

  

The scheduled maturities of outstanding debt, excluding deferred financing costs, at December 31, 2015 are as follows (in thousands):

 

2016

    $ 16,272   

2017

      14,649   

2018

      16,085   

2019

      513,884   

2020

      3,062   

Thereafter

      680,550   
  

 

 

  

Total outstanding debt

    $ 1,244,502   
  

 

 

  

On May 6, 2014, the Company entered into a new five year revolving credit facility with an aggregate commitment of $900 million (the “Revolving Credit Facility”) and a $300 million term loan (“Term Loan A”) pursuant to a new credit agreement. The proceeds from Term Loan A and a draw at closing on the Revolving Credit Facility were used to repay in full, amounts outstanding under our prior $750 million revolving credit facility (the “Prior Credit Agreement”). The new credit agreement replaced the Prior Credit Agreement, which was terminated upon the repayment of the amounts outstanding thereunder on May 6, 2014. As a result of the debt refinancing, $6.5 million of fees associated with the Revolving Credit Facility and $2.4 million of fees associated with Term Loan A will be amortized over their five year and seven year terms, respectively.

On July 29, 2014, the Company entered into an amendment to its Credit Agreement (the “Amendment”), which among things, provided for a new $200 million term loan (“Term Loan A-1”). Term Loan A-1 (formerly known as the “Acquisition Term Loan”) was used to fund, in part, the acquisition of Flagstone.

The Revolving Credit Facility, Term Loan A, and Term Loan A-1 are known collectively as the “Credit Agreement.” The Company’s average interest rate on debt outstanding under its Credit Agreement for the twelve months ended December 31, 2015 was 1.91%.

Revolving Credit Facility — As of December 31, 2015, $534.2 million of the aggregate commitment of $900 million of the Revolving Credit Facility was available. The Revolving Credit Facility matures on May 6, 2019. In addition, as of December 31, 2015, there were $12.8 million in letters of credit under the Revolving Credit Facility that were issued but undrawn, which have been included as a reduction to the calculation of available credit.

Interest is payable quarterly or at the end of the applicable interest period in arrears on any outstanding borrowings. The interest rates under the Credit Agreement are based on the Company’s consolidated leverage ratio, and are determined by either (i) LIBOR, plus a margin ranging from 1.25% to 2.00% (inclusive of the facility fee), based on the Company’s consolidated leverage ratio, or (ii) a Base Rate (as defined in the Credit Agreement), plus a margin ranging from 0.25% to 1.00% (inclusive of the facility fee), based on the Company’s consolidated leverage ratio.

The Credit Agreement is fully and unconditionally, as well as jointly and severally, guaranteed by our 100% owned direct and indirect subsidiaries described as follows: During the fourth quarter of 2015, the Company updated its legal structure and consolidated American Importing Company, Inc., Ann’s House of Nuts, Inc., and Snacks Parent Corporation into a single 100% owned indirect guarantor subsidiary, Flagstone Foods, Inc. (formerly known as Snacks Holding Corporation). Additionally, the following legal entities were added as guarantors in the fourth quarter: Associated Brands, Inc.; Cains Foods, Inc.; Cains Foods L.P.; and Cains GP, LLC. As a result, Bay Valley Foods, LLC, Sturm Foods, Inc., and S.T. Specialty Foods, Inc. together with the fourth quarter changes noted above, and certain other subsidiaries that may become guarantors in the future are collectively known as the “Guarantor Subsidiaries.” In the fourth quarter of 2014, EDS Holdings, LLC was removed as a Guarantor Subsidiary. The Revolving Credit Facility contains various financial and restrictive covenants and requires that the Company maintain certain financial ratios, including a leverage and interest coverage ratio. The Credit Agreement also contains cross-default provisions which could result in the acceleration of payments in the event TreeHouse or the Guarantor Subsidiaries (i) fails to make a payment when due in respect of any indebtedness or guarantee having an aggregate principal amount greater than $50 million or (ii) fails to observe or perform any other agreement or condition related to such indebtedness or guarantee as a result of which the holder(s) of such debt are permitted to accelerate the payment of such debt.

Term Loan A — On May 6, 2014, the Company entered into a $300 million senior unsecured term loan pursuant to the Credit Agreement. Term Loan A matures on May 6, 2021. The interest rates applicable to Term Loan A are based on the Company’s consolidated leverage ratio, and are determined by either (i) LIBOR, plus a margin ranging from 1.50% to 2.25%, or (ii) a Base Rate (as defined in the Credit Agreement), plus a margin ranging from 0.50% to 1.25%. Payments are due on a quarterly basis. Term Loan A is subject to substantially the same covenants as the Revolving Credit Facility, and also has the same Guarantor Subsidiaries. As of December 31, 2015, $295.5 million was outstanding under Term Loan A.

 

Term Loan A-1 — On July 29, 2014, the Company entered into a $200 million unsecured term loan pursuant to the Credit Agreement. Term Loan A-1 matures on May 6, 2019. The interest rates applicable to Term Loan A-1 are based on the Company’s consolidated leverage ratio, and are determined by either (i) LIBOR, plus a margin ranging from 1.25% to 2.00%, or (ii) a Base Rate (as defined in the Credit Agreement), plus a margin ranging from 0.25% to 1.00%. Payments are due on a quarterly basis. Term Loan A-1 is subject to substantially the same covenants as the Revolving Credit Facility, and has the same Guarantor Subsidiaries. As of December 31, 2015, $190.0 million was outstanding under Term Loan A-1.

2022 Notes — On March 11, 2014, the Company completed its underwritten public offering of $400 million in aggregate principal amount of 4.875% notes due March 15, 2022 (the “2022 Notes”). The net proceeds of $394 million ($400 million less underwriting discount of $6 million, providing an effective interest rate of 4.99%) were used to extinguish the Company’s previously issued 7.75% notes due on March 1, 2018 (the “2018 Notes”). The Company issued the 2022 Notes pursuant to an Indenture between the Company, the Guarantor Subsidiaries, and the Trustee.

The Indenture provides, among other things, that the 2022 Notes will be senior unsecured obligations of the Company. The Company’s payment obligations under the 2022 Notes are fully and unconditionally, as well as jointly and severally, guaranteed on a senior unsecured basis by the Guarantor Subsidiaries, in addition to any future domestic subsidiaries that guarantee or become borrowers under its credit agreement, or guarantee certain other indebtedness incurred by the Company or its restricted subsidiaries. Interest is payable on March 15 and September 15 of each year. The 2022 Notes will mature on March 15, 2022.

The Company may redeem some or all of the 2022 Notes at any time prior to March 15, 2017 at a price equal to 100% of the principal amount of the 2022 Notes redeemed, plus an applicable “make-whole” premium. On or after March 15, 2017, the Company may redeem some or all of the 2022 Notes at redemption prices set forth in the Indenture. In addition, at any time prior to March 15, 2017, the Company may redeem up to 35% of the 2022 Notes at a redemption price of 104.875% of the principal amount of the 2022 Notes redeemed with the net cash proceeds of certain equity offerings.

Subject to certain limitations, in the event of a change in control of the Company, the Company will be required to make an offer to purchase the 2022 Notes at a purchase price equal to 101% of the principal amount of the 2022 Notes, plus accrued and unpaid interest up to the purchase date.

The Indenture contains restrictive covenants that, among other things, limit the ability of the Company and the Guarantor Subsidiaries to: (i) pay dividends or make other restricted payments, (ii) make certain investments, (iii) incur additional indebtedness or issue preferred stock, (iv) create liens, (v) pay dividends or make other payments (except for certain dividends and payments to the Company and certain subsidiaries of the Company), (vi) merge or consolidate with other entities or sell substantially all of its assets, (vii) enter into transactions with affiliates, and (viii) engage in certain sale and leaseback transactions. The foregoing limitations are subject to exceptions as set forth in the Indenture. In addition, if in the future, the 2022 Notes have an investment grade credit rating by both Moody’s Investors Services, Inc. and Standard & Poor’s Ratings Services, certain of these covenants will, thereafter, no longer apply to the 2022 Notes for so long as the 2022 Notes are rated investment grade by the two rating agencies.

Tax Increment Financing — On December 15, 2001, the Urban Redevelopment Authority of Pittsburgh (“URA”) issued $4.0 million of redevelopment bonds, pursuant to a “Tax Increment Financing Plan” to assist with certain aspects of the development and construction of the Company’s Pittsburgh, Pennsylvania facilities. The agreement was transferred to the Company as part of the acquisition of the soup and infant feeding business. The Company has agreed to make certain payments with respect to the principal amount of the URA’s redevelopment bonds through May 2019. As of December 31, 2015, $1.3 million remains outstanding that matures May 1, 2019. Interest accrues at an annual rate of 7.16%.

Capital Lease Obligations and Other — The Company owes $4.7 million related to capital leases. Capital lease obligations represent machinery and equipment financing obligations, which are payable in monthly installments of principal and interest, and are collateralized by the related assets financed.

Deferred financing costs — As described in Note 2, the Company retrospectively adopted ASU 2015-03, which resulted in the reclassification of certain debt issuance costs not associated with line-of-credit arrangements in the Consolidated Balance Sheets for all periods presented. The adoption of this ASU had no impact on the Consolidated Statements of Income. As of December 31, 2015, deferred financing costs of $1.4 million and $6.5 million were included in Current portion of long-term debt and Long-term debt, respectively. As of December 31, 2014, this change decreased Other assets, net, by $9.1 million, with corresponding decreases of $1.4 million and $7.7 million in Current portion of long-term debt and Long-term debt, respectively.
v3.3.1.900
Stockholders' Equity
 12 Months Ended
Dec. 31, 2015
Stockholders' Equity
12. STOCKHOLDERS’ EQUITY

Common stock — The Company has authorized 90 million shares of common stock with a par value of $0.01 per share. No dividends have been declared or paid.

On July 16, 2014, the Company entered into an underwriting agreement with J.P. Morgan Securities, LLC, Wells Fargo Securities, LLC, and Merrill Lynch, Pierce, Fenner, & Smith, Incorporated, as representatives of the several underwriters named therein (together, the “Underwriters”), relating to the issuance and sale by the Company of up to 4,950,331 shares of the Company’s common stock, par value $0.01 per share (the “Common Stock”), at a price of $75.50 per share. On July 22, 2014, the Company closed the public offering of an aggregate 4,950,331 shares, at a price of $75.50 per share. The Company used the net proceeds ($358 million) from the stock offering to fund, in part, the acquisition of Flagstone.

As of December 31, 2015, there were 43,125,563 shares of common stock issued and outstanding. There is no treasury stock issued or outstanding.

Preferred Stock — The Company has authorized 10 million shares of preferred stock with a par value of $0.01 per share. No preferred stock has been issued.
v3.3.1.900
Earnings Per Share
 12 Months Ended
Dec. 31, 2015
Earnings Per Share
13. EARNINGS PER SHARE

Basic earnings per share is computed by dividing net income by the number of weighted average common shares outstanding during the reporting period. The weighted average number of common shares used in the diluted earnings per share calculation is determined using the treasury stock method and includes the incremental effect related to the Company’s outstanding stock-based compensation awards.

 

The following table summarizes the effect of the share-based compensation awards on the weighted average number of shares outstanding used in calculating diluted earnings per share:

 

     Year Ended December 31,  
     2015      2014      2013  
     (In thousands, except per share data)  

Net income

    $ 114,910       $ 89,880       $ 86,988   
  

 

 

     

 

 

     

 

 

  

Weighted average common shares outstanding

      43,052         39,348         36,418   

Assumed exercise/vesting of equity awards (1)

      657         890         978   
  

 

 

     

 

 

     

 

 

  

Weighted average diluted common shares outstanding

      43,709         40,238         37,396   
  

 

 

     

 

 

     

 

 

  

Net earnings per basic share

    $ 2.67       $ 2.28       $ 2.39   

Net earnings per diluted share

    $ 2.63       $ 2.23       $ 2.33   

 

(1) Incremental shares from equity awards are computed by the treasury stock method. Equity awards, excluded from our computation of diluted earnings per share because they were anti-dilutive, were 0.7 million, 0.4 million, and 0.5 million for the years ended December 31, 2015, 2014, and 2013, respectively.
v3.3.1.900
Stock-Based Compensation
 12 Months Ended
Dec. 31, 2015
Stock-Based Compensation
14. STOCK-BASED COMPENSATION

The Board of Directors adopted, and the Company’s Stockholders approved, the “TreeHouse Foods, Inc. Equity and Incentive Plan” (the “Plan”). On April 23, 2015, the Plan was amended and restated to increase the number of shares available for issuance under the Plan by 3.0 million shares, effective February 27, 2015. The Plan is administered by our Compensation Committee, which consists entirely of independent directors. The Compensation Committee determines specific awards for our executive officers. For all other employees, if the committee designates, our Chief Executive Officer or such other officers will, from time to time, determine specific persons to whom awards under the Plan will be granted, and the terms and conditions of each award. The Compensation Committee or its designee, pursuant to the terms of the Plan, also will make all other necessary decisions and interpretations under the Plan.

Under the Plan, the Compensation Committee may grant awards of various types of compensation, including stock options, restricted stock, restricted stock units, performance shares, performance units, other types of stock-based awards, and other cash-based compensation. The maximum number of shares available to be awarded under the Plan is approximately 12.3 million, of which approximately 3.3 million remain available at December 31, 2015.

Income before income taxes for the years ended December 31, 2015, 2014, and 2013 includes stock-based compensation expense for employees and directors of $22.9 million, $25.1 million, and $16.1 million, respectively. The tax benefit recognized related to the compensation cost of these share-based awards was approximately $9.5 million, $8.8 million, and $5.9 million for 2015, 2014, and 2013, respectively.

The Company estimates that certain employees and all directors will complete the required service conditions associated with their awards. For all other employees, the Company estimates forfeitures, as not all employees are expected to complete the required service conditions. The expected service period is the longer of the derived service period, as determined from the output of the valuation models, and the service period based on the term of the awards.

 

Stock Options — The following table summarizes stock option activity during 2015:

 

     Employee
Options		     Director
Options		     Weighted
Average
Exercise
Price		      Weighted
Average
Remaining
Contractual
Term (yrs.)		      Aggregate
Intrinsic
Value		  
     (In thousands)                   (In thousands)  

Outstanding, at January 1, 2015

      1,858        42      $ 49.53         5.7       $ 68,396   

Granted

      407        —        $ 76.61         

Forfeited

      (78 )      —        $ 76.32         

Exercised

      (269 )      (22 )    $ 29.32         
  

 

 

    

 

 

          

Outstanding, at December 31, 2015

      1,918        20      $ 57.18         6.2       $ 41,793   
  

 

 

    

 

 

          

Vested/expect to vest, at December 31, 2015

      1,869        20      $ 56.67         6.1       $ 41,697   
  

 

 

    

 

 

          

Exercisable, at December 31, 2015

      1,235        20      $ 46.81         4.7       $ 39,866   
  

 

 

    

 

 

          

 

     Year Ended December 31,  
     2015      2014      2013  
     (In millions)  

Intrinsic value of stock options exercised

    $ 15.7       $ 53.7       $ 6.4   

Compensation expense

    $ 6.6       $ 5.4       $ 3.8   

Tax benefit recognized from stock option exercises

    $ 6.0       $ 20.7       $ 2.7   

Compensation costs related to unvested options totaled $10.7 million at December 31, 2015 and will be recognized over the remaining vesting period of the grants, which averages 2.0 years. The weighted average grant date fair value of options granted in 2015, 2014, and 2013 was $22.04, $23.00, and $20.47, respectively.

Stock options granted under the plan generally have a three year vesting schedule, vest one-third on each of the first three anniversaries of the grant date, and expire ten years from the grant date. Stock options are generally only granted to employees and non-employee directors.

Stock options are valued using the Black-Scholes option pricing model. Expected volatilities for 2015, 2014, and 2013 are based on historical volatilities of the Company’s stock price. The risk-free interest rate for periods within the contractual life of the stock options is based on the U.S. Treasury yield curve in effect at the time of the grant. We based our expected term on the simplified method as described under the SEC Staff Accounting Bulletin No. 107. Under this approach the expected term is 6 years. The assumptions used to calculate the value of the stock option awards granted in 2015, 2014, and 2013 are presented as follows:

 

     2015     2014     2013  

Weighted average expected volatility

      25.07 %      25.18 %      30.21 % 

Weighted average risk-free interest rate

      1.97 %      2.03 %      0.995 % 

Expected dividends

      0.00 %      0.00 %      0.00 % 

Expected term

      6.0 years        6.0 years        6.0 years   

 

Restricted Stock Units — Employee restricted stock unit awards generally vest based on the passage of time. These awards generally vest one-third on each anniversary of the grant date. Director restricted stock units vest on the first anniversary of the grant date. Certain directors have deferred receipt of their awards until either their departure from the Board of Directors or a specified date. As of December 31, 2015, 95 thousand director restricted stock units have been earned and deferred. The following table summarizes the restricted stock unit activity during the year ended December 31, 2015:

 

     Employee
Restricted
Stock Units		      Weighted
Average
Grant Date
Fair Value		      Director
Restricted
Stock Units		      Weighted
Average
Grant Date
Fair Value		  
     (In thousands)             (In thousands)         

Outstanding, at January 1, 2015

      392       $ 71.97         101       $ 49.71   

Granted

      181       $ 77.06         16       $ 76.30   

Vested

      (186 )     $ 67.93         (6 )     $ 68.58   

Forfeited

      (75 )     $ 76.36         —         $ —     
  

 

 

        

 

 

     

Outstanding, at December 31, 2015

      312       $ 76.36         111       $ 52.60   
  

 

 

        

 

 

     

 

     Year Ended December 31,  
     2015      2014      2013  
     (In millions)  

Compensation expense

    $ 11.7       $ 11.9       $ 8.9   

Fair value of vested restricted stock units

    $ 14.9       $ 12.9       $ 9.8   

Tax benefit recognized from vested restricted stock units

    $ 4.9       $ 4.7       $ 3.3   

Future compensation costs related to restricted stock units are approximately $16.6 million as of December 31, 2015 and will be recognized on a weighted average basis over the next 1.9 years. The grant date fair value of the awards is equal to the Company’s closing stock price on the date of grant.

Performance Units — Performance unit awards are granted to certain members of management. These awards contain service and performance conditions. For each of the three performance periods, one-third of the units will accrue, multiplied by a predefined percentage between 0% and 200%, depending on the achievement of certain operating performance measures. Additionally, for the cumulative performance period, a number of units will accrue, equal to the number of units granted multiplied by a predefined percentage between 0% and 200%, depending on the achievement of certain operating performance measures, less any units previously accrued. Accrued units will be converted to stock or cash, at the discretion of the Compensation Committee, generally, on the third anniversary of the grant date. The Company intends to settle these awards in stock and has the shares available to do so.

During the year ended December 31, 2015, based on achievement of operating performance measures, 93,505 performance units were converted into 66,674 shares of common stock, an average conversion ratio of 0.71 shares for each performance unit.

The following table summarizes the performance unit activity during the year ended December 31, 2015:

 

     Performance
Units		      Weighted
Average
Grant Date
Fair Value		  
     (In thousands)         

Unvested, at January 1, 2015

      269       $ 68.76   

Granted

      106       $ 76.30   

Vested

      (67 )     $ 60.88   

Forfeited

      (37 )     $ 65.06   
  

 

 

     

Unvested, at December 31, 2015

      271       $ 74.13   
  

 

 

     

 

       Year Ended December 31,    
     2015      2014      2013  
     (In millions)  

Compensation expense

    $ 4.6       $ 7.8       $ 3.4   

Fair value of vested performance units

    $ 5.1       $ 0.4       $ 2.0   

Tax benefit recognized from performance units vested

    $ 1.9       $ 0.2       $ 0.7   

Future compensation costs related to the performance units are estimated to be approximately $9.7 million as of December 31, 2015, and are expected to be recognized over the next 2.0 years. The grant date fair value of the awards is equal to the Company’s closing stock price on the date of grant.
v3.3.1.900
Accumulated Other Comprehensive Loss
 12 Months Ended
Dec. 31, 2015
Accumulated Other Comprehensive Loss
15. ACCUMULATED OTHER COMPREHENSIVE LOSS

Accumulated other comprehensive loss consists of the following components, all of which are net of tax, except for the foreign currency translation adjustment:

 

     Foreign
Currency
Translation (1)		      Unrecognized
Pension and
Postretirement
Benefits (2)		      Derivative
Financial
Instrument (3)		      Accumulated
Other
Comprehensive
Loss		  
     (In thousands)  

Balance at January 1, 2013

    $ (2,007 )     $ (14,525 )     $ (108 )     $ (16,640 ) 

Other comprehensive loss

      (22,682 )       —           —           (22,682 ) 

Reclassifications from accumulated other comprehensive loss

      —           7,451         108         7,559   
  

 

 

     

 

 

     

 

 

     

 

 

  

Other comprehensive (loss) income

      (22,682 )       7,451         108         (15,123 ) 
  

 

 

     

 

 

     

 

 

     

 

 

  

Balance at December 31, 2013

      (24,689 )       (7,074 )       —           (31,763 ) 

Other comprehensive loss

      (26,637 )       —           —           (26,637 ) 

Reclassifications from accumulated other comprehensive loss

      —           (5,931 )       —           (5,931 ) 
  

 

 

     

 

 

     

 

 

     

 

 

  

Other comprehensive loss

      (26,637 )       (5,931 )       —           (32,568 ) 
  

 

 

     

 

 

     

 

 

     

 

 

  

Balance at December 31, 2014

      (51,326 )       (13,005 )       —           (64,331 ) 

Other comprehensive loss

      (49,186 )       —           —           (49,186 ) 

Reclassifications from accumulated other comprehensive loss

      —           49         —           49   
  

 

 

     

 

 

     

 

 

     

 

 

  

Other comprehensive (loss) income

      (49,186 )       49         —           (49,137 ) 
  

 

 

     

 

 

     

 

 

     

 

 

  

Balance at December 31, 2015

    $ (100,512 )     $ (12,956 )     $ —         $ (113,468 ) 
  

 

 

     

 

 

     

 

 

     

 

 

  

 

(1) The foreign currency translation adjustment is not net of tax, as it pertains to the Company’s permanent investment in its Canadian subsidiaries.
(2) The unrecognized pension and postretirement benefits reclassification is presented net of tax of $30 thousand, $(3,683) thousand, and $4,592 thousand for the years ended December 31, 2015, 2014, and 2013, respectively.
(3) The derivative financial instrument reclassification is presented net of tax of $68 thousand for the year ended December 31, 2013.

 

    Reclassifications from Accumulated
Other Comprehensive Loss		     Affected Line in The
Consolidated
Statements of Income		  
  Year Ended December 31,        
    2015     2014     2013        
          (In thousands)              

Derivative financial instrument

   $ —        $ —        $ 176        Interest expense   

Income taxes

     —          —          68        Income taxes   
 

 

 

    

 

 

    

 

 

    

Net of tax

   $ —        $ —        $ 108     
 

 

 

    

 

 

    

 

 

    

Amortization of defined benefit pension and postretirement items:

        

Prior service costs

   $ 139      $ 139      $ 385        (a)   

Unrecognized net loss

     1,576        681        1,880        (a)   

Actuarial Adjustment

     (1,636 )      (10,434 )      9,717        (b)   

Other

     —          —          61     
 

 

 

    

 

 

    

 

 

    

Total before tax

     79        (9,614 )      12,043     

Income taxes

     (30 )      3,683        (4,592 )      Income taxes   
 

 

 

    

 

 

    

 

 

    

Net of tax

   $ 49      $ (5,931 )    $ 7,451     
 

 

 

    

 

 

    

 

 

    

 

(a) These accumulated other comprehensive income components are included in the computation of net periodic pension and postretirement cost. See Note 16 for additional details.
(b) Represents the actuarial adjustment needed to adjust the Accumulated other comprehensive loss balance to actual.
v3.3.1.900
Employee Pension and Postretirement Benefit Plans
 12 Months Ended
Dec. 31, 2015
Employee Pension and Postretirement Benefit Plans
16. EMPLOYEE PENSION AND POSTRETIREMENT BENEFIT PLANS

Pension and Postretirement Benefits — Certain of our employees and retirees participate in pension and other postretirement benefit plans. Employee benefit plan obligations and expenses included in the Consolidated Financial Statements are determined based on plan assumptions, employee demographic data, including years of service and compensation, benefits and claims paid, and employer contributions.

Defined Contribution Plans — Certain of our non-union employees participate in savings and profit sharing plans. These plans generally provide for salary reduction contributions to the plans on behalf of the participants of between 1% and 80% of a participant’s annual compensation and provide for employer matching and profit sharing contributions. The Company established a tax-qualified defined contribution plan to manage the assets. For 2015, 2014, and 2013, the Company made matching contributions to the plan of $6.7 million, $6.0 million, and $4.9 million, respectively.

Multiemployer Pension Plans — The Company contributes to several multiemployer pension plans on behalf of employees covered by collective bargaining agreements. These plans are administered jointly by management and union representatives and cover substantially all full-time and certain part-time union employees who are not covered by other plans. The risks of participating in multiemployer plans are different from single-employer plans in the following aspects: (1) assets contributed to the multiemployer plan by one employer may be used to provide benefits to employees of other participating employers, (2) if a participating employer stops contributing to the plan, the unfunded obligations of the plan may be borne by the remaining participating employers, and (3) if the Company chooses to stop participating in a multiemployer plan, we could, under certain circumstances, be liable for unfunded vested benefits or other expenses of jointly administered union/management plans. The Company partially withdrew from the Western Conference of Teamsters Pension Trust Plan as a result of the closure of our Portland pickle facility during 2013. The Company is liable for a share of the plan’s unfunded vested benefits. A withdrawal liability in the amount of $0.9 million was paid in full during 2014, with no remaining liability for the partial withdrawal as of December 31, 2014. In November 2015, the Company announced the closure of its City of Industry, California facility, and as a result, will further withdraw from the Western Conference of Teamsters Pension Trust Plan. It will not result in a full withdrawal. As a result, as of December 31, 2015, the estimated partial withdrawal liability is approximately $0.8 million, which has been accrued as of year end. No other liabilities were established, as withdrawal from the remaining plans is not probable. In 2015, 2014, and 2013, the contributions to these plans, excluding withdrawal payments, were $1.4 million, $1.5 million, and $1.4 million, respectively.

The Company’s participation in multiemployer pension plans is outlined in the table below. The EIN column provides the Employer Identification Number (“EIN”) of each plan. Unless otherwise noted, the most recent Pension Protection Act zone status available in 2015 and 2014 is for the plan’s years ended December 31, 2014, and 2013, respectively. The zone status is based on information that the Company received from the plan, and is certified by the plan’s actuary. Among other factors, plans in the red zone are generally less than 65% funded, plans in the yellow zone are less than 80% funded, and plans in the green zone are at least 80% funded. The FIP column indicates plans for which a financial improvement plan “(“FIP”) is either pending or has been implemented. The last column lists the expiration dates of the collective bargaining agreements to which the plans are subject. There have been no significant changes in the number of Company employees covered by the multiemployer plans or other significant events that would affect the comparability of contributions to the plans.

 

            Pension Protection
Act
Zone Status		   FIP
Implemented
(yes or no)		   TreeHouse Foods
Contributions
(In thousands)		     Surcharge
Imposed
(yes or no)		   Expiration
Date
Of Collective
Bargaining
Agreement		  

Plan Name:

   EIN
Number		   Plan
Number		   Plan Year Ended
December 31,		        
          2014           2013         2015     2014     2013      

Central States Southeast and Southwest Areas Pension Fund

   36-2154936   1   Red   Red   Yes   $ 610      $  617      $  592      No     12/27/2016   

Rockford Area Dairy Industry Local 754, Intl. Brotherhood of Teamsters Retirement Pension Plan

   36-6067654   1   Green   Green   No   $  416      $ 474      $ 384      No     4/30/2017   

Western Conference of Teamsters Pension Fund

   91-6145047   1   Green   Green   No   $ 345      $ 336      $ 361      No     2/28/2016   

The Company was listed in the following plan’s Form 5500 as providing more than 5.0% of the total contributions for the following plan and plan years:

 

Plan Name:

    Years Contributions to Plan
Exceeded More Than 5% of total
Contributions (as of December  31
Of the Plan’s Year-End)		  

Rockford Area Dairy Industry Local 754, Intl. Brotherhood of Teamsters Retirement Pension Plan

      2015, 2014, and 2013   

 

Defined Benefit Pension Plans — The Company established a tax-qualified pension plan and master trust to manage the portion of the pension plan assets related to eligible salaried, non-union, and union employees not covered by a multiemployer pension plan. We also retain investment consultants to assist our Investment Committee with formulating a long-term investment policy for the master trust. The expected long-term rate of return on assets is based on projecting long-term market returns for the various asset classes in which the plan’s assets are invested, weighted by the target asset allocations. The estimated ranges are primarily based on observations of historical asset returns and their historical volatility. In determining the expected returns, we also consider consensus forecasts of certain market and economic factors that influence returns, such as inflation, gross domestic product trends, and dividend yields. Active management of the plan assets may result in adjustments to the historical returns. We review the rate of return assumption annually.

The Company’s overall investment strategy is to provide a regular and reliable source of income to meet the liquidity needs of the pension plans and minimize reliance on plan sponsor contributions as a source of benefit security. The Company’s investment policy includes various guidelines and procedures designed to ensure assets are invested in a manner necessary to meet expected future benefits earned by participants. Central to the policy are target allocation ranges by major asset classes. The objective of the target allocations is to ensure the assets are invested with the intent to protect pension plan assets so that such assets are preserved for the provision of benefits to participants and their beneficiaries and such long-term growth as may maximize the amounts available to provide such benefits without undue risk. Additionally, we consider the weighted average return of a capital markets model and historical returns on comparable equity, debt, and other investments. Our current asset mix guidelines, under the investment policy, target equities at 55% to 65% of the portfolio and fixed income at 35% to 45%. At December 31, 2015, our master trust was invested as follows: equity securities of 59.7%, fixed income securities of 39.9% and cash and cash equivalents of 0.4%. Equity securities primarily include investments in collective equity funds that invest in domestic and international securities, with a primary focus on domestic securities. Fixed income securities primarily include investments in collective funds that invest in corporate bonds of companies from diversified industries. Other investments are short term in nature, including certificates of deposit, investments in a collective bond fund that invests in commercial paper, time deposits, fixed rate notes and bonds and others.

The fair value of the Company’s pension plan assets at December 31, 2015 and 2014, by asset category is as follows:

 

     Pension Plan Assets
Fair Value
Measurements at
December 31, (h)		  
     2015      2014  
     (In thousands)  

Short Term Investment Fund (a)

    $ 228       $ 52   

Aggregate Bond Index Fund (b)

      9,945         10,312   

U.S. Market Cap Equity Index Fund (c)

      24,613         25,858   

International All Country World Index Fund (d)

      3,421         3,407   

Collective Daily 1-5 year Credit Bond Fund (e)

      7,787         8,234   

Emerging Markets Index Fund (f)

      1,417         1,375   

Daily High Yield Fixed Income Fund (g)

      1,942         2,074   
  

 

 

     

 

 

  
   $ 49,353       $ 51,312   
  

 

 

     

 

 

  

 

(a) This fund is an investment vehicle for cash reserves, which seeks to offer a competitive rate of return through a portfolio of high-grade, short term, and money market instruments. Principal preservation is the primary objective of this fund.
(b) The primary objective of this fund is to hold a portfolio representative of the overall United States bond and debt market, as characterized by the Barclays Capital Aggregate Bond Index.
(c) The primary objective of this fund is to approximate the risk and return characteristics of the Dow Jones U.S. ex-LP’s Total Stock Market Index.
(d) The primary objective of this fund is to approximate the risk and return characteristics of the Morgan Stanley All Country World ex-US (MSCI ACWI ex-US) ND Index. This fund is commonly used to represent the non-U.S. equity in developed and emerging markets.
(e) The primary objective of this fund is to hold a portfolio representative of the intermediate credit securities portion of the United States bond and debt markets, as characterized by the Barclays Capital U.S. 1-5 year Credit Bond Index.
(f) The primary objective of this fund is to provide investment results that replicate the overall performance of the MSCI Emerging Markets Index. The Fund may make limited use of futures and/or options to maintain equity exposure.
(g) The primary objective of this fund is to outperform the Barclay’s Capital High Yield Index over a market cycle while maintaining a similar level of volatility and credit quality as the index. This Fund can serve as a core bond investment position, providing exposure to the U.S. Fixed Income market.
(h) As described in in Note 2, the Company adopted ASU 2015-07, which removes the requirement to categorize investments within the fair value hierarchy for which fair value is measured using the net asset value per share practical expedient. As the fair values of all of these assets are measured using the net asset value per share practical expedient, levels within the fair value hierarchy are not provided for these assets.

Pension benefits for eligible salaried and non-union employees were frozen in 2002 for years of creditable service. For these employees, incremental pension benefits are only earned for changes in compensation affecting final average pay. Pension benefits earned by union employees covered by collective bargaining agreements, but not participating in multiemployer pension plans, are earned based on creditable years of service and the specified benefit amounts negotiated as part of the collective bargaining agreements. The Company’s funding policy provides that annual contributions to the pension plan master trust will be at least equal to the minimum amounts required by Employee Retirement Income Security Act of 1974, as amended. The Company estimates that its 2016 contributions to its pension plans will be $2.6 million. In 2014, the retirement of selected employees with substantial pension balances owed upon retirement was deemed a settlement charge of $0.6 million. The measurement date for the defined benefit pension plans is December 31. In 2015, the actuarial gain relating to the defined benefit pension plans was primarily driven by the change in the discount rate.

Other Postretirement Benefits — Certain employees participate in benefit programs that provide certain health care and life insurance benefits for retired employees and their eligible dependents. The plans are unfunded. The Company estimates that its 2016 contributions to its postretirement benefit plans will be $0.2 million. The measurement date for the other postretirement benefit plans is December 31.

The Company contributes to certain multiemployer postretirement benefit plans other than pensions on behalf of employees covered by collective bargaining agreements. These plans are administered jointly by management and union representatives and cover all eligible retirees. These plans are primarily health and welfare funds and carry the same multiemployer risks as identified at the beginning of this Note. Total contributions to these plans were $2.6 million, $2.5 million, and $2.2 million for the years ended December 31, 2015, 2014, and 2013, respectively.

 

The following table summarizes information about our pension and postretirement benefit plans for the years ended December 31, 2015 and 2014:

 

     Pension Benefits     Postretirement
Benefits		  
     2015     2014     2015     2014  
     (In thousands)     (In thousands)  

Change in benefit obligation:

         

Benefit obligation, at beginning of year

    $ 67,605      $ 56,672      $ 3,463      $ 3,155   

Service cost

      2,374        2,107        15        17   

Interest cost

      2,850        2,772        144        153   

Settlements

      —          98        —          —     

Actuarial (gains) losses

      (1,813 )      10,707        (449 )      218   

Benefits paid

      (3,165 )      (4,751 )      (153 )      (80 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Benefit obligation, at end of year

      $67,851        $67,605        $3,020        $3,463   
  

 

 

    

 

 

    

 

 

    

 

 

  

Change in plan assets:

         

Fair value of plan assets, at beginning of year

    $ 51,312      $ 48,761      $ —        $ —     

Actual return on plan assets

      (834 )      3,242        —          —     

Company contributions

      2,040        4,060        153        80   

Benefits paid

      (3,165 )      (4,751 )      (153 )      (80 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Fair value of plan assets, at end of year

      $49,353        $51,312        $—          $—     
  

 

 

    

 

 

    

 

 

    

 

 

  

Funded status of the plan

    $ (18,498 )    $ (16,293 )    $ (3,020 )    $ (3,463 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Amounts recognized in the Consolidated Balance Sheets:

         

Current liability

    $ —        $ —        $ (171 )    $ (151 ) 

Non-current liability

      (18,498 )      (16,293 )      (2,849 )      (3,312 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Net amount recognized

    $ (18,498 )    $ (16,293 )    $ (3,020 )    $ (3,463 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Amounts recognized in Accumulated Other Comprehensive Loss:

         

Net actuarial loss

    $ 19,785      $ 19,228      $ 162      $ 659   

Prior service cost

      1,374        1,581        (168 )      (236 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Total, before tax effect

      $21,159        $20,809      $ (6 )      $423   
  

 

 

    

 

 

    

 

 

    

 

 

  

 

     Pension Benefits  
     2015     2014  
     (In thousands)  

Accumulated benefit obligation

    $ 65,323      $ 65,497   

Weighted average assumptions used to determine the pension benefit obligations:

     

Discount rate

      4.50 %      4.25 % 

Rate of compensation increases

      3.00% - 4.00 %      3.00% - 4.00 % 

The key actuarial assumptions used to determine the postretirement benefit obligations as of December 31, 2015 and 2014 are as follows:

 

     2015     2014  
     Pre-65     Post 65     Pre-65     Post 65  

Health care cost trend rates:

         

Health care cost trend rate for next year

      8.00 %      7.50 %      8.00 %      7.50 % 

Ultimate rate

      5.00 %      5.00 %      5.00 %      5.00 % 

Discount rate

      4.50 %      4.50 %      4.25 %      4.25 % 

Year ultimate rate achieved

      2024        2023        2023        2020   

 

The following table summarizes the net periodic cost of our pension and postretirement benefit plans, for the years ended December 31, 2015, 2014, and 2013:

 

     Pension Benefits     Postretirement
Benefits		  
     2015     2014     2013     2015     2014     2013  
     (In thousands)     (In thousands)  

Components of net periodic costs:

             

Service cost

    $ 2,374      $ 2,107      $ 2,407      $ 15      $ 17      $ 22   

Interest cost

      2,850        2,772        2,466        144        153        138   

Expected return on plan assets

      (3,064 )      (3,217 )      (2,665 )      —          —          —     

Amortization of unrecognized prior service cost

      207        207        455        (68 )      (68 )      (68 ) 

Amortization of unrecognized net loss

      1,528        663        1,733        48        18        46   

ASC 715 settlement charge

      —          564        —          —          —          —     
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net periodic cost

    $ 3,895      $ 3,096      $ 4,396      $ 139      $ 120      $ 138   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

 

     Pension Benefits     Postretirement Benefits  
     2015     2014         2013             2015             2014             2013      

Weighted average assumptions used todetermine the periodic benefit costs:

             

Discount rate

      4.25 %      4.50% - 5.00 %      4.25 %      4.25 %      5.00 %      4.25 % 

Rate of compensation increases

      3.00 - 4.00 %      3.00% - 4.00 %      3.00% - 4.00 %      —          —          —     

Expected return on plan assets

      6.00 %      6.50 %      6.50 %      —          —          —     

The estimated amount that will be amortized from accumulated other comprehensive loss into net periodic cost in 2016 is as follows:

 

     Pension      Postretirement  
     (In thousands)  

Net actuarial loss (gain)

    $ 1,530       $ (7 ) 

Prior service cost

    $ 207       $ (68 ) 

Estimated future pension and postretirement benefit payments from the plans are as follows:

 

     Pension
Benefit		      Postretirement
Benefit		  
     (In thousands)  

2016

    $ 3,251       $ 171   

2017

    $ 3,186       $ 157   

2018

    $ 3,487       $ 151   

2019

    $ 3,602       $ 151   

2020

    $ 3,736       $ 159   

2021-25

    $ 20,796       $ 880   

The effect of a 1% change in health care trend rates would have the following effects on the postretirement benefit plan:

 

     2015  
     (In thousands)  

1% Increase:

   

Benefit obligation, end of year

    $ 315   

Service cost plus interest cost for the year

    $ 15   

1% Decrease:

   

Benefit obligation, end of year

    $ (262 ) 

Service cost plus interest cost for the year

    $ (12 ) 

 

Most of our employees are not eligible for postretirement medical benefits and of those that are, the majority are covered by a multi-employer plan in which expenses are paid as incurred. The effect on those covered by plans for which we maintain a liability was not significant.
v3.3.1.900
Other Operating Expense, Net
 12 Months Ended
Dec. 31, 2015
Other Operating Expense, Net
17. OTHER OPERATING EXPENSE, NET

The Company incurred other operating expense for the years ended December 31, 2015, 2014, and 2013, respectively, which consisted of the following:

 

     Year Ended December 31,  
     2015      2014      2013  
     (In thousands)  

Restructuring

    $ 1,817       $ 2,421       $ 5,947   
  

 

 

     

 

 

     

 

 

  

Total other operating expense, net

    $ 1,817       $ 2,421       $ 5,947   
  

 

 

     

 

 

     

 

 

  
v3.3.1.900
Supplemental Cash Flow Information
 12 Months Ended
Dec. 31, 2015
Supplemental Cash Flow Information
18. SUPPLEMENTAL CASH FLOW INFORMATION

 

     Year Ended December 31,  
     2015      2014      2013  
     (In thousands)  

Interest paid

    $ 41,940       $ 43,598       $ 45,998   

Income taxes paid

    $ 50,059       $ 50,590       $ 38,533   

Accrued purchase of property and equipment

    $ 6,925       $ 7,497       $ 8,824   

Accrued other intangible assets

    $ 1,988       $ 2,005       $ 1,664   

Non-cash financing activities for the twelve months ended December 31, 2015, 2014, and 2013 included $20.0 million, $13.4 million, and $11.9 million, respectively, related to the vesting of restricted stock, restricted stock units, and performance stock units.
v3.3.1.900
Commitments and Contingencies
 12 Months Ended
Dec. 31, 2015
Commitments and Contingencies
19. COMMITMENTS AND CONTINGENCIES

We lease certain property, plant, equipment, and distribution warehouses used in our operations under both capital and operating lease agreements. These leases have terms ranging from one to seventeen years. Rent expense under operating lease commitments was $31.9 million, $28.3 million, and $22.8 million for the years ended December 31, 2015, 2014, and 2013, respectively.

The composition of capital leases, which are reflected as Property, plant, and equipment in the Consolidated Balance Sheets, is as follows:

 

     December 31,  
     2015      2014  
     (In thousands)  

Machinery and equipment

    $ 13,926       $ 14,186   

Less accumulated amortization

      (6,157 )       (4,691 ) 
  

 

 

     

 

 

  

Total

    $ 7,769       $ 9,495   
  

 

 

     

 

 

  

 

Future minimum payments at December 31, 2015 under non-cancelable capital leases, operating leases, and purchase obligations, including input costs such as raw materials, ingredients, and packaging, are summarized as follows:

 

     Capital      Operating      Purchase  
     Leases      Leases      Obligations  
     (In thousands)                

2016

    $ 3,105       $ 21,925       $ 455,799   

2017

      1,360         18,533         26,722   

2018

      256         14,082         1,868   

2019

      71         10,756         1,924   

2020

      67         10,664         1,982   

Thereafter

      55         29,637         2,042   
  

 

 

     

 

 

     

 

 

  

Total minimum payments

      4,914       $ 105,597       $ 490,337   
     

 

 

     

 

 

  

Less amount representing interest

      (167 )       
  

 

 

        

Present value of capital lease obligations

    $ 4,747         
  

 

 

        

Litigation, Investigations, and Audits — The Company is party in the ordinary course of business to certain claims, litigation, audits, and investigations. The Company believes it has established adequate accruals for liabilities that are probable and reasonably estimable that may be incurred in connection with any such currently pending or threatened matter, none of which are significant. In the Company’s opinion, the settlement of any such currently pending or threatened matter is not expected to have a material impact on the Company’s financial position, results of operations, or cash flows.
v3.3.1.900
Derivative Instruments
 12 Months Ended
Dec. 31, 2015
Derivative Instruments
20. DERIVATIVE INSTRUMENTS

The Company is exposed to certain risks relating to its ongoing business operations. The primary risks managed by derivative instruments include interest rate risk, foreign currency risk, and commodity price risk. Derivative contracts are entered into for periods consistent with the related underlying exposure and do not constitute positions independent of those exposures. The Company does not enter into derivative instruments for trading or speculative purposes.

Interest Rate Risk — The Company manages its exposure to changes in interest rates by optimizing the use of variable-rate and fixed-rate debt and by utilizing interest rate swaps to hedge our exposure to changes in interest rates, to reduce the volatility of our financing costs, and to achieve a desired proportion of fixed versus floating-rate debt, based on current and projected market conditions, with a bias toward fixed-rate debt.

Foreign Currency Risk —Due to the Company’s operations in Canada, we are exposed to foreign currency risk. The Company enters into foreign currency contracts to manage the risk associated with foreign currency cash flows. The Company’s objective in using foreign currency contracts is to establish a fixed foreign currency exchange rate for the net cash flow requirements for purchases that are denominated in U.S. dollars. These contracts do not qualify for hedge accounting and changes in their fair value are recorded in the Consolidated Statements of Income, with their fair value recorded on the Consolidated Balance Sheets. As of December 31, 2015, the Company had $23.0 million of U.S. dollar foreign currency contracts outstanding, expiring throughout 2016.

Commodity Risk — Certain commodities we use in the production and distribution of our products are exposed to market price risk. The Company uses derivative contracts to manage this risk. The majority of commodity forward contracts are not derivatives, and those that are generally qualify for the normal purchases and normal sales scope exception under the guidance for derivatives and hedging activities and, therefore, are not subject to its provisions. For derivative commodity contracts that do not qualify for the normal purchases and normal sales scope exception, the Company records their fair value on the Company’s Consolidated Balance Sheets, with changes in value being recorded in the Consolidated Statements of Income.

The Company’s forward purchase commodity contracts may include contracts for diesel, oil, plastics, natural gas, electricity, and other commodity contracts that do not meet the requirements for the normal purchases and normal sales scope exception.

The Company uses diesel contracts to manage the Company’s risk associated with the underlying cost of diesel fuel used to deliver products. The contracts for oil and plastics are used to manage the Company’s risk associated with the underlying commodity cost of a significant component used in packaging materials. The contracts for natural gas and electricity are used to manage the Company’s risk associated with the utility costs of its manufacturing facilities, and commodity contracts that are derivatives that do not meet the normal purchases and normal sales scope exception are used to manage the price risk associated with raw material costs. As of December 31, 2015, the Company had outstanding contracts for the purchase of 56,764 megawatts of electricity, expiring throughout 2016; 5.2 million gallons of diesel, expiring throughout 2016; 2.4 million dekatherms of natural gas, expiring throughout 2016; and 1.5 million pounds of coffee, expiring throughout 2016.

The following table identifies the derivative, its fair value, and location on the Consolidated Balance Sheets:

 

          Fair Value  
          December 31,  
          2015      2014  
    

Balance Sheet Location

    (In thousands)  

Asset Derivatives:

         

Foreign currency contracts

    Prepaid expenses and other current assets    $ 1,356       $ —     
     

 

 

     

 

 

  
      $ 1,356       $ —     
     

 

 

     

 

 

  

Liability Derivatives:

         

Commodity contracts

    Accounts payable and accrued expenses    $ 3,778       $ 3,044   
     

 

 

     

 

 

  
      $ 3,778       $ 3,044   
     

 

 

     

 

 

  

We recorded the following gains and losses on our derivative contracts in the Consolidated Statements of Income:

 

          Year Ended  
          December 31,  
    

Location of Gain (Loss)

Recognized in Income

    2015     2014  
        (In thousands)  

Mark-to-market unrealized gain (loss):

        

Commodity contracts

    Other expense, net    $ (734 )    $ (3,051 ) 

Foreign currency contracts

    Other expense, net      1,356        —     
     

 

 

    

 

 

  

Total unrealized gain (loss)

         622        (3,051 ) 

Realized (loss):

        

Commodity contracts

    Manufacturing related to cost of sales and transportation related to selling and distribution      (5,169 )      —     

Foreign currency contracts

    Cost of sales      3,821        —     
     

 

 

    

 

 

  

Total realized (loss)

         (1,348 )      —     
     

 

 

    

 

 

  

Total (loss)

       $ (726 )    $ (3,051 ) 
     

 

 

    

 

 

  
v3.3.1.900
Fair Value
 12 Months Ended
Dec. 31, 2015
Fair Value
21. FAIR VALUE

The following table presents the carrying value and fair value of our financial instruments as of December 31, 2015 and December 31, 2014:

 

     December 31, 2015     December 31, 2014        
     Carrying
Value		     Fair Value     Carrying
Value		     Fair Value     Level  
     (In thousands)     (In thousands)        

Not recorded at fair value (liability):

           

Revolving Credit Facility

    $ (353,000 )    $ (352,932 )    $ (554,000 )    $ (559,085 )      2   

Term Loan A

    $ (295,500 )    $ (294,327 )    $ (298,500 )    $ (315,070 )      2   

Term Loan A-1

    $ (190,000 )    $ (190,200 )    $ (197,500 )    $ (202,716 )      2   

2022 Notes

    $ (400,000 )    $ (383,000 )    $ (400,000 )    $ (406,000 )      2   

Recorded on a recurring basis at fair value (liability) asset:

           

Commodity contracts

    $ (3,778 )    $ (3,778 )    $ (3,044 )    $ (3,044 )      2   

Foreign currency contracts

    $ 1,356      $ 1,356      $ —        $ —          2   

Investments

    $ 8,388      $ 8,388      $ 9,148      $ 9,148        1   

Cash and cash equivalents and accounts receivable are financial assets with carrying values that approximate fair value. Accounts payable are financial liabilities with carrying values that approximate fair value.

The fair values of the Revolving Credit Facility, Term Loan A, Term Loan A-1, 2022 Notes, commodity contracts, and foreign currency contracts are determined using Level 2 inputs. Level 2 inputs are inputs other than quoted market prices that are observable for an asset or liability, either directly or indirectly. The fair values of the Revolving Credit Facility, Term Loan A, and Term Loan A-1 were estimated using present value techniques and market based interest rates and credit spreads. The fair value of the Company’s 2022 Notes was estimated based on quoted market prices for similar instruments, where the inputs are considered Level 2, due to their infrequent trading volume.

The fair values of the commodity contracts and foreign currency contracts are based on an analysis comparing the contract rates to the market rates at the balance sheet date. The commodity contracts and foreign currency contracts are recorded at fair value on the Consolidated Balance Sheets.

The fair value of the investments was determined using Level 1 inputs. Level 1 inputs are quoted prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement dates. The investments are recorded at fair value on the Consolidated Balance Sheets.
v3.3.1.900
Segment and Geographic Information and Major Customers
 12 Months Ended
Dec. 31, 2015
Segment and Geographic Information and Major Customers
22. SEGMENT AND GEOGRAPHIC INFORMATION AND MAJOR CUSTOMERS

The Company manages operations on a company-wide basis, thereby making determinations as to the allocation of resources in total rather than on a segment-level basis. The Company has designated reportable segments based on how management views its business. The Company does not segregate assets between segments for internal reporting. Therefore, asset-related information has not been presented. The reportable segments, as presented below, are consistent with the manner in which the Company reports its results to the Chief Operating Decision Maker. Our segments are as follows:

North American Retail Grocery – Our North American Retail Grocery segment sells branded and private label products to customers within the United States and Canada. These products include non-dairy powdered creamers; sweeteners; condensed, ready to serve, and powdered soups, broths, and gravies; refrigerated and shelf stable salad dressings and sauces; pickles and related products; Mexican and other sauces; jams and pie fillings; aseptic products; liquid non-dairy creamer; powdered drinks; single serve hot beverages; specialty teas; hot cereals; baking and mix powders; macaroni and cheese; skillet dinners; and snack nuts, trail mixes, dried fruit, and other wholesome snacks.

Food Away From Home – Our Food Away From Home segment sells non-dairy powdered creamers; sweeteners; pickles and related products; Mexican and other sauces; refrigerated and shelf stable dressings; aseptic products; hot cereals; powdered drinks; and single serve hot beverages to foodservice customers, including restaurant chains and food distribution companies, within the United States and Canada.

Industrial and Export – Our Industrial and Export segment includes the Company’s co-pack business and non-dairy powdered creamer sales to industrial customers for use in industrial applications, including products for repackaging in portion control packages and for use as ingredients by other food manufacturers. This segment sells non-dairy powdered creamer; baking and mix powders; pickles and related products; refrigerated and shelf stable salad dressings; Mexican sauces; aseptic products; soup and infant feeding products; hot cereal; powdered drinks; single serve hot beverages; specialty teas; nuts; and other products. Export sales are primarily to industrial customers outside of North America.

The Company evaluates the performance of segments based on net sales dollars and direct operating income (gross profit less freight out, sales commissions, and direct selling and marketing expenses). The amounts in the following tables are obtained from reports used by senior management and do not include income taxes. Other expenses not allocated include unallocated selling and distribution expenses, unallocated costs of sales and unallocated corporate expenses. The accounting policies of our segments are the same as those described in the summary of significant accounting policies set forth in Note 1 Summary of Significant Accounting Policies.

 

Financial information relating to the Company’s reportable segments is as follows:

 

    Year Ended December 31,  
    2015     2014     2013  
    (In thousands)  

Net sales to external customers:

      

North American Retail Grocery

   $ 2,437,768      $ 2,173,391      $ 1,642,190   

Food Away From Home

     370,360        380,069        360,868   

Industrial and Export

     398,277        392,642        290,869   
 

 

 

    

 

 

    

 

 

  

Total

   $ 3,206,405      $ 2,946,102      $ 2,293,927   
 

 

 

    

 

 

    

 

 

  

Direct operating income:

      

North American Retail Grocery

   $ 348,827      $ 326,943      $ 258,699   

Food Away From Home

     52,057        47,107        50,110   

Industrial and Export

     72,020        68,109        55,754   
 

 

 

    

 

 

    

 

 

  

Total

     472,904        442,159        364,563   

Unallocated selling and distribution expenses

     (8,934 )      (9,159 )      (5,284 ) 

Unallocated cost of sales (1)

     (170 )      (998 )      (18,728 ) 

Unallocated corporate expense

     (224,064 )      (213,848 )      (162,387 ) 
 

 

 

    

 

 

    

 

 

  

Operating income

     239,736        218,154        178,164   

Other expense

     (68,472 )       (81,584 )      (53,254 ) 
 

 

 

    

 

 

    

 

 

  

Income before income taxes

   $ 171,264      $ 136,570      $ 124,910   
 

 

 

    

 

 

    

 

 

  

Depreciation:

      

North American Retail Grocery

   $ 41,953      $ 40,220      $ 35,962   

Food Away From Home

     8,581        8,472        9,327   

Industrial and Export

     7,047        6,266        5,379   

Corporate office (2)

     3,888        8,323        22,599   
 

 

 

    

 

 

    

 

 

  

Total

   $ 61,469      $ 63,281      $ 73,267   
 

 

 

    

 

 

    

 

 

  

 

(1) 2013 costs primarily related to accelerated depreciation and other charges related to restructurings.
(2) Includes accelerated depreciation related to restructurings for 2013.

Geographic Information — The Company had revenues from customers outside of the United States of approximately 11.9%, 12.4%, and 13.2% of total consolidated net sales in 2015, 2014, and 2013, respectively, with 10.8%, 11.3%, and 12.2% from Canada in 2015, 2014, and 2013, respectively. Sales are determined based on the customer destination where the products are shipped.

Long-lived assets consist of net property, plant, and equipment. The geographic location of long-lived assets is as follows:

 

    

 

      December 31,     

 

  
     2015      2014      2013  
     (In thousands)  

Long-lived assets:

         

United States

    $ 496,933       $ 490,850       $ 416,170   

Canada

      44,595         52,928         46,105   
  

 

 

     

 

 

     

 

 

  

Total

    $ 541,528       $ 543,778       $ 462,275   
  

 

 

     

 

 

     

 

 

  

 

Major Customers — Walmart Stores, Inc. and affiliates accounted for approximately 20.7%, 18.8%, and 19.0% of our consolidated net sales in 2015, 2014, and 2013, respectively. Sales to Walmart Stores, Inc. and affiliates are included in our North American Retail Grocery segment. No other customer accounted for more than 10% of our consolidated net sales.

Total trade receivables with Walmart Stores, Inc. and affiliates represented approximately 21.9% and 17.5% of our total trade receivables as of December 31, 2015 and 2014, respectively.

Product Information — The following table presents the Company’s net sales by major products. In 2014, we added a product category (Snacks) due to the acquisition of Flagstone. This change did not require prior period adjustments.

 

     Year Ended December 31,  
     2015      2014      2013  
            (In thousands)         

Products:

         

Snacks

    $ 657,993       $ 287,281       $ —     

Beverages

      433,828         499,829         341,547   

Soup and infant feeding

      381,444         351,917         219,404   

Salad dressings

      351,577         361,859         334,577   

Beverage enhancers

      338,190         359,179         361,290   

Pickles

      316,176         302,621         297,904   

Mexican and other sauces

      222,873         248,979         245,171   

Cereals

      159,761         168,739         169,843   

Dry dinners

      123,600         139,285         124,075   

Aseptic products

      107,723         102,635         96,136   

Other products

      62,037         70,720         46,650   

Jams

      51,203         53,058         57,330   
  

 

 

     

 

 

     

 

 

  

Total net sales

    $ 3,206,405       $ 2,946,102       $ 2,293,927   
  

 

 

     

 

 

     

 

 

  
v3.3.1.900
Quarterly Results of Operations
 12 Months Ended
Dec. 31, 2015
Quarterly Results of Operations
23. QUARTERLY RESULTS OF OPERATIONS (unaudited)

The following is a summary of our unaudited quarterly results of operations for 2015 and 2014:

 

     Quarter  
     First      Second (2)      Third (3)      Fourth  
     (In thousands, except per share data)  

Fiscal 2015

            

Net sales

    $ 783,145       $ 759,208       $ 798,638       $ 865,414   

Gross profit

      152,437         151,371         158,697         181,798   

Income before income taxes

      25,801         47,787         40,275         57,401   

Net income

      17,852         31,362         28,441         37,255   

Net income per common share:

            

Basic (1)

      0.42         0.73         0.66         0.86   

Diluted (1)

      0.41         0.72         0.65         0.85   

Fiscal 2014

            

Net sales

    $ 618,903       $ 627,960       $ 795,726       $ 903,513   

Gross profit

      132,991         135,677         158,588         179,348   

Income before income taxes

      20,043         33,740         30,795         51,992   

Net income

      14,322         21,759         19,882         33,917   

Net income per common share:

            

Basic (1)

      0.39         0.59         0.48         0.80   

Diluted (1)

      0.38         0.57         0.47         0.78   

 

(1) Due to rounding and the issuance of shares in July of 2014, the sum of the four quarters may not be the same as the total for the year.
(2) The Company acquired Protenergy in May of 2014.
(3) The Company acquired Flagstone in July of 2014.
v3.3.1.900
Guarantor and Non-Guarantor Financial Information
 12 Months Ended
Dec. 31, 2015
Guarantor and Non-Guarantor Financial Information
24. GUARANTOR AND NON-GUARANTOR FINANCIAL INFORMATION

The Company’s 2022 Notes are guaranteed fully and unconditionally, as well as jointly and severally, by its Guarantor Subsidiaries. As described in Note 11, Associated Brands, Inc.; Cains Foods, Inc.; Cains Foods L.P.; Cains GP, LLC; and Flagstone Foods, Inc. (formerly known as Snacks Holding Corporation) were added as Guarantor Subsidiaries in the fourth quarter of 2015. In the fourth quarter of 2014, EDS Holdings, LLC was removed as a Guarantor Subsidiary. There are no significant restrictions on the ability of the parent company or any guarantor to obtain funds from its subsidiaries by dividend or loan. The following supplemental consolidating financial information presents the results of operations, financial position, and cash flows of the parent company, its guarantor subsidiaries, its non-guarantor subsidiaries and the eliminations necessary to arrive at the information for the Company on a consolidated basis as of December 31, 2015 and 2014 and for the years ended December 31, 2015, 2014, and 2013. The equity method has been used with respect to investments in subsidiaries. The principal elimination entries eliminate investments in subsidiaries and intercompany balances and transactions. As a result of the addition of the guarantors noted above, the following supplemental consolidating financial information has been recast for prior periods as if the new guarantor structure existed for all periods presented, as of the acquisition dates of the respective guarantors. As a result of the removal of EDS Holdings, LLC as a guarantor in 2014, all prior period supplemental consolidating financial information has been revised to remove it as a guarantor for all periods presented.

Condensed Supplemental Consolidating Balance Sheet

December 31, 2015

(In thousands)

 

     Parent
Company		      Guarantor
Subsidiaries		     Non-Guarantor
Subsidiaries		     Eliminations     Consolidated  

Assets

            

Current assets:

            

Cash and cash equivalents

    $ 10,384       $ 37      $ 24,498      $ —        $ 34,919   

Investments

      —           —          8,388        —          8,388   

Accounts receivable, net

      17         181,231        21,950        —          203,198   

Inventories, net

      —           500,308        83,807        —          584,115   

Prepaid expenses and other current assets

      17,625         6,580        8,996        (16,618 )      16,583   
  

 

 

     

 

 

    

 

 

    

 

 

    

 

 

  

Total current assets

      28,026         688,156        147,639        (16,618 )      847,203   

Property, plant, and equipment, net

      26,294         448,708        66,526        —          541,528   

Goodwill

      —           1,496,484        153,310        —          1,649,794   

Investment in subsidiaries

      2,411,533         380,955        —          (2,792,488 )      —     

Intercompany accounts receivable (payable), net

      582,266         (543,738 )      (38,528 )      —          —     

Deferred income taxes

      18,092         —          —          (18,092 )      —     

Intangible and other assets, net

      46,041         504,114        114,116        —          664,271   
  

 

 

     

 

 

    

 

 

    

 

 

    

 

 

  

Total assets

    $ 3,112,252       $ 2,974,679      $ 443,063      $ (2,827,198 )    $ 3,702,796   
  

 

 

     

 

 

    

 

 

    

 

 

    

 

 

  

Liabilities and Stockholders’ Equity

            

Current liabilities:

            

Accounts payable and accrued expenses

    $ 16,526       $ 232,938      $ 27,734      $ (16,618 )    $ 260,580   

Current portion of long-term debt

      11,621         1,050        2,222        —          14,893   
  

 

 

     

 

 

    

 

 

    

 

 

    

 

 

  

Total current liabilities

      28,147         233,988        29,956        (16,618 )      275,473   

Long-term debt

      1,219,011         1,062        1,668        —          1,221,741   

Deferred income taxes

      —           273,588        23,612        (18,092 )      279,108   

Other long-term liabilities

      10,235         54,508        6,872        —          71,615   

Stockholders’ equity

      1,854,859         2,411,533        380,955        (2,792,488 )      1,854,859   
  

 

 

     

 

 

    

 

 

    

 

 

    

 

 

  

Total liabilities and stockholders’ equity

    $ 3,112,252       $ 2,974,679      $ 443,063      $ (2,827,198 )    $ 3,702,796   
  

 

 

     

 

 

    

 

 

    

 

 

    

 

 

  

 

Condensed Supplemental Consolidating Balance Sheet

December 31, 2014

(In thousands)

 

     Parent
Company		      Guarantor
Subsidiaries		     Non-Guarantor
Subsidiaries		     Eliminations     Consolidated  

Assets

            

Current assets:

            

Cash and cash equivalents

    $ 18,706       $ 1,592      $ 31,683      $ —        $ 51,981   

Investments

      —           —          9,148        —          9,148   

Accounts receivable, net

      46         186,155        47,455        —          233,656   

Inventories, net

      —           497,513        96,585        —          594,098   

Prepaid expenses and other current assets

      32,849         5,065        7,900        (20,825 )      24,989   
  

 

 

     

 

 

    

 

 

    

 

 

    

 

 

  

Total current assets

      51,601         690,325        192,771        (20,825 )      913,872   

Property, plant, and equipment, net

      28,411         440,613        74,754        —          543,778   

Goodwill

      —           1,490,768        177,217        —          1,667,985   

Investment in subsidiaries

      2,269,325         430,650        —          (2,699,975 )      —     

Intercompany accounts receivable (payable), net

      840,606         (759,593 )      (81,013 )      —          —     

Deferred income taxes

      20,578         —          —          (20,578 )      —     

Intangible and other assets, net

      46,708         539,236        146,743        —          732,687   
  

 

 

     

 

 

    

 

 

    

 

 

    

 

 

  

Total assets

    $ 3,257,229       $ 2,831,999      $ 510,472      $ (2,741,378 )    $ 3,858,322   
  

 

 

     

 

 

    

 

 

    

 

 

    

 

 

  

Liabilities and Stockholders’ Equity

            

Current liabilities:

            

Accounts payable and accrued expenses

    $ 48,002       $ 232,257      $ 37,426      $ (20,825 )    $ 296,860   

Current portion of long-term debt

      9,121         1,595        2,278        —          12,994   
  

 

 

     

 

 

    

 

 

    

 

 

    

 

 

  

Total current liabilities

      57,123         233,852        39,704        (20,825 )      309,854   

Long-term debt

      1,431,761         2,027        3,961        —          1,437,749   

Deferred income taxes

      —           278,295        26,173        (20,578 )      283,890   

Other long-term liabilities

      9,088         48,500        9,984        —          67,572   

Stockholders’ equity

      1,759,257         2,269,325        430,650        (2,699,975 )      1,759,257   
  

 

 

     

 

 

    

 

 

    

 

 

    

 

 

  

Total liabilities and stockholders’ equity

    $ 3,257,229       $ 2,831,999      $ 510,472      $ (2,741,378 )    $ 3,858,322   
  

 

 

     

 

 

    

 

 

    

 

 

    

 

 

  

 

Condensed Supplemental Consolidating Statement of Income

Year Ended December 31, 2015

(In thousands)

 

     Parent
Company		     Guarantor
Subsidiaries		     Non-Guarantor
Subsidiaries		     Eliminations     Consolidated  

Net sales

    $ —        $ 2,994,438      $ 467,687      $ (255,720 )    $ 3,206,405   

Cost of sales

      —          2,405,134        412,688        (255,720 )      2,562,102   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Gross profit

      —          589,304        54,999        —          644,303   

Selling, general, and administrative expense

      73,201        233,041        35,910        —          342,152   

Amortization

      8,097        42,332        10,169        —          60,598   

Other operating expense, net

      —          1,817        —          —          1,817   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Operating (loss) income

      (81,298 )      312,114        8,920        —          239,736   

Interest expense

      43,808        207        7,123        (5,664 )      45,474   

Interest income

      (1,450 )      (5,664 )      (1,517 )      5,664        (2,967 ) 

Other (income) expense, net

      (7 )      20,311        5,661        —          25,965   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

(Loss) income from continuing operations, before income taxes

      (123,649 )      297,260        (2,347 )      —          171,264   

Income taxes (benefit)

      (47,215 )      106,288        (2,719 )      —          56,354   

Equity in net income (loss) of subsidiaries

      191,344        372        —          (191,716 )      —     
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net income (loss)

    $ 114,910      $ 191,344      $ 372      $ (191,716 )    $ 114,910   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Condensed Supplemental Consolidating Statement of Income

Year Ended December 31, 2014

(In thousands)

 

     Parent
Company		     Guarantor
Subsidiaries		     Non-Guarantor
Subsidiaries		     Eliminations     Consolidated  

Net sales

    $ —        $ 2,596,451      $ 493,460      $ (143,809 )    $ 2,946,102   

Cost of sales

      —          2,061,598        421,709        (143,809 )      2,339,498   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Gross profit

      —          534,853        71,751        —          606,604   

Selling, general, and administrative expense

      68,632        221,106        43,657        —          333,395   

Amortization

      6,521        35,409        10,704        —          52,634   

Other operating expense, net

      —          2,365        56        —          2,421   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Operating (loss) income

      (75,153 )      275,973        17,334        —          218,154   

Interest expense

      41,316        520        4,071        (3,871 )      42,036   

Interest income

      (2 )      (3,900 )      (959 )      3,871        (990 ) 

Loss on extinguishment of debt

      22,019        —          —          —          22,019   

Other expense, net

      22        10,329        8,168        —          18,519   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

(Loss) income from continuing operations, before income taxes

      (138,508 )      269,024        6,054        —          136,570   

Income taxes (benefit)

      (51,761 )      99,896        (1,445 )      —          46,690   

Equity in net income (loss) of subsidiaries

      176,627        7,499        —          (184,126 )      —     
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net income (loss)

    $ 89,880      $ 176,627      $ 7,499      $ (184,126 )    $ 89,880   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

 

Condensed Supplemental Consolidating Statement of Income

Year Ended December 31, 2013

(In thousands)

 

     Parent
Company		     Guarantor
Subsidiaries		     Non-Guarantor
Subsidiaries		     Eliminations     Consolidated  

Net sales

    $ —        $ 2,069,073      $ 320,313      $ (95,459 )    $ 2,293,927   

Cost of sales

      —          1,644,614        269,223        (95,459 )      1,818,378   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Gross profit

      —          424,459        51,090        —          475,549   

Selling, general, and administrative expense

      52,951        173,073        30,039        —          256,063   

Amortization

      5,445        24,351        5,579        —          35,375   

Other operating expense, net

      —          3,741        2,206        —          5,947   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Operating (loss) income

      (58,396 )      223,294        13,266        —          178,164   

Interest expense

      48,358        967        60        (81 )      49,304   

Interest income

      —          (12 )      (2,254 )      81        (2,185 ) 

Other (income) expense, net

      (3 )      (22,007 )      28,145        —          6,135   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

(Loss) income from continuing operations, before income taxes

      (106,751 )      244,346        (12,685 )      —          124,910   

Income taxes (benefit)

      (42,438 )      78,460        1,900        —          37,922   

Equity in net income (loss) of subsidiaries

      151,301        (14,585 )      —          (136,716 )      —     
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net income (loss)

    $ 86,988      $ 151,301      $ (14,585 )    $ (136,716 )    $ 86,988   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Condensed Supplemental Consolidating Statement of Comprehensive Income

Year Ended December 31, 2015

(In thousands)

 

     Parent
Company		     Guarantor
Subsidiaries		     Non-Guarantor
Subsidiaries		     Eliminations     Consolidated  

Net income

    $ 114,910      $ 191,344      $ 372      $ (191,716 )    $ 114,910   

Other comprehensive income (loss):

           

Foreign currency translation adjustments

      —          —          (49,186 )      —          (49,186 ) 

Pension and postretirement reclassification adjustment, net of tax

      —          49        —          —          49   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Other comprehensive income (loss)

      —          49        (49,186 )      —          (49,137 ) 

Equity in other comprehensive (loss) income of subsidiaries

      (49,137 )      (49,186 )      —          98,323        —     
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Comprehensive income (loss)

    $ 65,773      $ 142,207      $ (48,814 )    $ (93,393 )    $ 65,773   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

 

Condensed Supplemental Consolidating Statement of Comprehensive Income

Year Ended December 31, 2014

(In thousands)

 

     Parent
Company		     Guarantor
Subsidiaries		     Non-Guarantor
Subsidiaries		     Eliminations     Consolidated  

Net income

    $ 89,880      $ 176,627      $ 7,499      $ (184,126 )    $ 89,880   

Other comprehensive (loss):

           

Foreign currency translation adjustments

      —          —          (26,637 )      —          (26,637 ) 

Pension and postretirement reclassification adjustment, net of tax

      —          (5,931 )      —          —          (5,931 ) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Other comprehensive (loss)

      —          (5,931 )      (26,637 )      —          (32,568 ) 

Equity in other comprehensive (loss) income of subsidiaries

      (32,568 )      (26,637 )      —          59,205        —     
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Comprehensive income (loss)

    $ 57,312      $ 144,059      $ (19,138 )    $ (124,921 )    $ 57,312   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Condensed Supplemental Consolidating Statement of Comprehensive Income

Year Ended December 31, 2013

(In thousands)

 

     Parent
Company		     Guarantor
Subsidiaries		     Non-Guarantor
Subsidiaries		     Eliminations     Consolidated  

Net income (loss)

    $ 86,988      $ 151,301      $ (14,585 )    $ (136,716 )    $ 86,988   

Other comprehensive income (loss):

           

Foreign currency translation adjustments

      —          —          (22,682 )      —          (22,682 ) 

Pension and postretirement reclassification adjustment, net of tax

      —          7,451        —          —          7,451   

Derivative reclassification adjustment, net of tax

      108        —          —          —          108   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Other comprehensive income (loss)

      108        7,451        (22,682 )      —          (15,123 ) 

Equity in other comprehensive (loss) income of subsidiaries

      (15,231 )      (22,682 )      —          37,913        —     
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Comprehensive income (loss)

    $ 71,865      $ 136,070      $ (37,267 )    $ (98,803 )    $ 71,865   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

 

Condensed Supplemental Consolidating Statement of Cash Flows

Fiscal Year Ended December 31, 2015

(In thousands)

 

     Parent
Company		     Guarantor
Subsidiaries		     Non-Guarantor
Subsidiaries		     Eliminations     Consolidated  

Net cash provided by (used in) operating activities

    $ 99,954      $ 356,395      $ 19,669      $ (190,700 )    $ 285,318   

Cash flows from investing activities:

           

Additions to property, plant, and equipment

      (874 )      (61,079 )      (10,781 )      —          (72,734 ) 

Additions to intangible assets

      (11,830 )      (1,406 )      (126 )      —          (13,362 ) 

Intercompany transfer

      (11,421 )      (114,063 )      142        125,342        —     

Purchase of investments

      —          —          (831 )      —          (831 ) 

Proceeds from sale of fixed assets

      —          465        141        —          606   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net cash (used in) provided by investing activities

      (24,125 )      (176,083 )      (11,455 )      125,342        (86,321 ) 

Cash flows from financing activities:

           

Net borrowing (repayment) of debt

      (211,742 )      (1,510 )      (2,252 )      —          (215,504 ) 

Intercompany transfer

      120,643        (180,357 )      (5,644 )      65,358        —     

Net receipts related to stock-based award activities

      1,834        —          —          —          1,834   

Excess tax benefits from stock-based payment arrangements

      5,329        —          —          —          5,329   

Other

      (215 )      —          —          —          (215 ) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net cash (used in) provided by financing activities

      (84,151 )      (181,867 )      (7,896 )      65,358        (208,556 ) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Effect of exchange rate changes on cash and cash equivalents

      —          —          (7,503 )      —          (7,503 ) 

Decrease in cash and cash equivalents

      (8,322 )      (1,555 )      (7,185 )      —          (17,062 ) 

Cash and cash equivalents, beginning of year

      18,706        1,592        31,683        —          51,981   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Cash and cash equivalents, end of year

    $ 10,384      $ 37      $ 24,498      $ —        $ 34,919   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

 

Condensed Supplemental Consolidating Statement of Cash Flows

Fiscal Year Ended December 31, 2014

(In thousands)

 

     Parent
Company		     Guarantor
Subsidiaries		     Non-Guarantor
Subsidiaries		     Eliminations     Consolidated  

Net cash provided by (used in) operating activities

    $ 149,103      $ 216,848      $ 29,144      $ (183,138 )    $ 211,957   

Cash flows from investing activities:

           

Additions to property, plant, and equipment

      (16,201 )      (63,843 )      (8,531 )      —          (88,575 ) 

Additions to intangible assets

      (9,012 )      (2,516 )      885        —          (10,643 ) 

Intercompany transfer

      (1,055,537 )      919,876        (47,477 )      183,138        —     

Acquisitions, net of cash acquired

      —          (1,034,894 )      41,885        —          (993,009 ) 

Purchase of investments

      —          —          (584 )      —          (584 ) 

Proceeds from sale of investments

      —          —          63        —          63   

Proceeds from sale of fixed assets

      —          2,457        385        —          2,842   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net cash (used in) provided by investing activities

      (1,080,750 )      (178,920 )      (13,374 )      183,138        (1,089,906 ) 

Cash flows from financing activities:

           

Net borrowing (repayment) of debt

      484,595        (1,504 )      (1,691 )      —          481,400   

Intercompany transfer

      38,577        (38,577 )      —          —          —     

Net proceeds from issuance of stock

      358,364        —          —          —          358,364   

Net receipts related to stock-based award activities

      27,812        20        —          —          27,832   

Excess tax benefits from stock-based payment arrangements

      17,737        (144 )      —          —          17,593   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net cash provided by (used in) financing activities

      927,085        (40,205 )      (1,691 )      —          885,189   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Effect of exchange rate changes on cash and cash equivalents

      —          —          (1,734 )      —          (1,734 ) 

(Decrease) increase in cash and cash equivalents

      (4,562 )      (2,277 )      12,345        —          5,506   

Cash and cash equivalents, beginning of year

      23,268        3,869        19,338        —          46,475   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Cash and cash equivalents, end of year

    $ 18,706      $ 1,592      $ 31,683      $ —        $ 51,981   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

 

Condensed Supplemental Consolidating Statement of Cash Flows

Fiscal Year Ended December 31, 2013

(In thousands)

 

     Parent
Company		     Guarantor
Subsidiaries		     Non-Guarantor
Subsidiaries		     Eliminations      Consolidated  

Net cash (used in) provided by operating activities

    $ (45,540 )    $ 225,857      $ 36,373      $ —         $ 216,690   

Cash flows from investing activities:

            

Additions to property, plant, and equipment

      (48 )      (68,530 )      (6,202 )      —           (74,780 ) 

Additions to intangible assets

      (4,923 )      (1,480 )      —          —           (6,403 ) 

Acquisitions, net of cash acquired

      —          (125,158 )      (93,494 )      —           (218,652 ) 

Purchase of investments

      —          —          (8,140 )      —           (8,140 ) 

Proceeds from sale of investments

      —          —          165        —           165   

Proceeds from sale of fixed assets

      —          966        (6 )      —           960   
  

 

 

    

 

 

    

 

 

    

 

 

     

 

 

  

Net cash used in investing activities

      (4,971 )      (194,202 )      (107,677 )      —           (306,850 ) 

Cash flows from financing activities:

            

Net borrowing (repayment) of debt

      42,000        (1,939 )      (6 )      —           40,055   

Intercompany transfer

      26,116        (26,116 )      —          —           —     

Net receipts related to stock-based award activities

      1,291        —          —          —           1,291   

Excess tax benefits from stock-based payment arrangements

      4,372        —          —          —           4,372   
  

 

 

    

 

 

    

 

 

    

 

 

     

 

 

  

Net cash provided by (used in) financing activities

      73,779        (28,055 )      (6 )      —           45,718   
  

 

 

    

 

 

    

 

 

    

 

 

     

 

 

  

Effect of exchange rate changes on cash and cash equivalents

      —          —          (3,490 )      —           (3,490 ) 

Increase (decrease) in cash and cash equivalents

      23,268        3,600        (74,800 )      —           (47,932 ) 

Cash and cash equivalents, beginning of year

      —          269        94,138        —           94,407   
  

 

 

    

 

 

    

 

 

    

 

 

     

 

 

  

Cash and cash equivalents, end of year

    $ 23,268      $ 3,869      $ 19,338      $ —         $ 46,475   
  

 

 

    

 

 

    

 

 

    

 

 

     

 

 

  
v3.3.1.900
Subsequent Events
 12 Months Ended
Dec. 31, 2015
Subsequent Events
25. SUBSEQUENT EVENTS

In connection with the financing of the acquisition of the private brands business (“Private Brands Business”) of ConAgra Foods, on January 20, 2016, the Company announced the offering of $750 million of stock, or 11,538,461 shares at $65.00 per share. Included in the offering was an underwriters’ option to purchase an additional 1,730,769 shares at $65.00 per share. On January 26, 2016, a total of 13,269,230 shares were issued, resulting in gross proceeds to the Company of $862.5 million. Net cash from the offering, after the exercise of the over-allotment option and after considering the underwriting fees, was approximately $836.6 million. The net proceeds from the offering were used to fund, in part, the acquisition of the Private Brands Business.

Also in connection with the financing of the acquisition of the Private Brands Business, on January 29, 2016, the Company completed an exempt offering under Rule 144A and Regulation S of the Securities Act of $775 million in aggregate principal amount of 6.0% senior unsecured notes (“2024 Notes”) due February 15, 2024. The net proceeds from the issuance of the 2024 Notes (approximately $763.4 million after deducting underwriting discounts) were used to fund, in part, the acquisition of the Private Brands Business. Interest on the 2024 Notes will be paid on February 15th and August 15th of each year, beginning August 15, 2016.

On February 1, 2016, the Company completed its acquisition of the Private Brands Business for approximately $2.7 billion, excluding transaction expenses and subject to working capital and other adjustments. The acquisition will be accounted for under the acquisition method of accounting. The required disclosures have not been provided as the initial accounting for the business combination was not complete prior to the issuance of these financial statements.

The acquisition was funded by $836.6 million in net proceeds from the sale of the Company’s common stock, $763.4 million in net proceeds from the issuance of the 2024 Notes, and $1,025.0 million in Term Loan A-2 financing, with the remaining balance funded by borrowings from the Company’s Revolving Credit Facility. The Term Loan A-2 financing was funded on February 1, 2016 coincident with the closing of the acquisition and has a term of 5 years. Interest on the Term Loan A-2 financing is based on the Company’s consolidated leverage ratio, and is determined by either (i) LIBOR, plus a margin ranging from 1.25% to 3.00%, or (ii) a Base Rate (as defined in the Credit Agreement), plus a margin ranging from 0.25% to 2.00%. Payments are due on a quarterly basis. The Company obtained Term Loan A-2 pursuant to an Amended and Restated Credit Agreement, dated as of February 1, 2016. The Amended and Restated Credit Agreement amends, restates and replaces the Company’s existing Credit Agreement, dated as of May 6, 2014. Significant components of the Amended and Restated Credit Agreement include (but are not limited to) (1) changes to the maturity dates of the Revolving Credit Facility, Term Loan A, and Term Loan A-1 so that they are coterminous and will mature on February 1, 2021, (2) issuance of Term Loan A-2, (3) the Credit Agreement is now a secured facility until the Company reaches a leverage ratio of 3.5 and has no other pari-passu secured debt outstanding, and (4) increased credit spreads. The Amended and Restated Credit Agreement contains substantially the same covenants as the prior Credit Agreement.
v3.3.1.900
Valuation and Qualifying Accounts
 12 Months Ended
Dec. 31, 2015
Valuation and Qualifying Accounts

SCHEDULE II

TREEEHOUSE FOODS, INC.

VALUATION AND QUALIFYING ACCOUNTS

December 31, 2015, 2014 and 2013

Allowance for doubtful accounts deducted from accounts receivable:

 

     Balance
Beginning
of Year		      Change
to
Allowance		     Acquisitions      Write-Offs of
Uncollectable
Accounts		     Recoveries      Balance End
of Year		  
                  (In thousands)               

2013

    $ 305       $ (98 )    $ 255       $ (57 )    $ —         $ 405   

2014

    $ 405       $ 1,023      $ 428       $ (523 )    $ —         $ 1,333   

2015

    $ 1,333       $ 32      $ —         $ (783 )    $ —         $ 582   
v3.3.1.900
Summary of Significant Accounting Policies (Policies)
 12 Months Ended
Dec. 31, 2015
Basis of Consolidation

Basis of Consolidation — The Consolidated Financial Statements include the accounts of TreeHouse Foods, Inc. and its 100% owned direct and indirect subsidiaries (the “Company,” “TreeHouse,” “we,” “us,” or “our”). All intercompany balances and transactions are eliminated in consolidation. In 2014, as a result of the Flagstone acquisition, the Company added a new product category for Snacks. This change did not require prior period adjustments. See Note 22 for more information.
Use of Estimates

Use of Estimates — The preparation of our Consolidated Financial Statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to use judgment to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the Consolidated Financial Statements, and the reported amounts of net sales and expenses during the reporting period. Actual results could differ from these estimates.
Cash Equivalents

Cash Equivalents — We consider temporary cash investments with an original maturity of three months or less to be cash equivalents. As of December 31, 2015 and 2014, $24.4 million and $31.6 million, respectively, represents cash held in Canada, in local currency, and is convertible into other currencies. The cash held in Canada is expected to be used for general corporate purposes in Canada, including capital projects and acquisitions.
Inventories

Inventories — Inventories are stated at the lower of cost or market. Pickle inventories are valued using the LIFO method and Flagstone inventories are valued using the weighted average costing approach, while all of our other inventories are valued using the FIFO method. The costs of finished goods inventories include raw materials, labor, and overhead costs.
Property, plant, and equipment

Property, plant, and equipment — Property, plant, and equipment are stated at acquisition cost, plus capitalized interest on borrowings during the actual construction period of major capital projects. Depreciation and amortization are calculated using the straight-line method over the estimated useful lives of the assets as follows:

 

Asset

   

Useful Life

Buildings and improvements

    12-40 years

Machinery and equipment

    3-15 years

Office furniture and equipment

    3-12 years

We perform impairment tests when circumstances indicate that the carrying value may not be recoverable. Capitalized leases are amortized over the shorter of their lease term or their estimated useful lives, and amortization expense is included in depreciation expense. Expenditures for repairs and maintenance, which do not improve or extend the life of the assets, are expensed as incurred.
Intangible and Other Assets

Intangible and Other Assets — Identifiable intangible assets with finite lives are amortized over their estimated useful lives as follows:

 

Asset

   

Useful Life

Customer relationships

    Straight-line method over 5 to 20 years

Trademarks

    Straight-line method over 10 to 20 years

Non-competition agreements

    Straight-line method over the terms of the agreements

Deferred financing costs associated with line-of-credit arrangements

    Straight-line method over the terms of the arrangements

Formulas/recipes

    Straight-line method over 5 to 7 years

Computer software

    Straight-line method over 2 to 7 years

 

Indefinite lived trademarks are evaluated for impairment annually in the fourth quarter or more frequently, if events or changes in circumstances indicate that the asset might be impaired. Impairment is indicated when their book value exceeds fair value. If the fair value of an evaluated asset is less than its book value, the asset is written down to fair value, which is generally based on its discounted future cash flows.

Amortizable intangible assets are evaluated for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. If an evaluation of the undiscounted cash flows indicates impairment, the asset is written down to its estimated fair value, which is generally based on discounted future cash flows.

Goodwill is evaluated annually in the fourth quarter or more frequently, if events or changes in circumstances require an interim assessment. We assess goodwill for impairment (as of December 31) at the reporting unit level using market and income approaches, employing significant assumptions regarding growth, discount rates, and profitability at each reporting unit. The market approach uses a market multiple methodology employing revenues and earnings before interest, taxes, depreciation, and amortization (“EBITDA”) and applies a range of multiples to those amounts in determining the indicated fair value. In determining the multiples used in this approach, we obtain the multiples for selected peer companies using the most recent publically available information. Our estimates under the income approach are determined based on a discounted cash flow model. In determining the indicated fair value of each reporting unit, the Company weighs both the market and income approach results, with each approach given equal weighting. The resulting value is then compared to the carrying value of each reporting unit. If the book value of the reporting unit exceeds the indicated fair value, goodwill is then considered under the second step of the impairment test. In the second step, goodwill impairment is measured as the difference between the implied value of goodwill and its carrying value. The implied value of goodwill is determined based on a hypothetical analysis that calculates the fair value of goodwill as if the related reporting unit were being acquired in a business combination.
Stock-Based Compensation

Stock-Based Compensation — We measure compensation expense for our equity awards at their grant date fair value. The resulting expense is recognized over the relevant service period. See Note 14.
Revenue Recognition

Revenue Recognition — Sales are recognized when persuasive evidence of an arrangement exists, the price is fixed or determinable, title and risk of loss transfer to customers, and there is a reasonable assurance of collection of the sales proceeds. Product is shipped FOB shipping point or FOB destination, depending on our agreement with the customer. Sales are reduced by certain sales incentives, some of which are recorded by estimating expense based on our historical experience.
Accounts Receivable

Accounts Receivable — We provide credit terms to customers generally ranging between 10 and 30 days, perform ongoing credit evaluations of our customers, and maintain allowances for potential credit losses based on historical experience. Customer balances are written off after all collection efforts are exhausted. Estimated product returns, which have not been material, are deducted from sales at the time of shipment.
Income Taxes

Income Taxes — The provision for income taxes includes federal, foreign, state, and local income taxes currently payable, and those deferred because of temporary differences between the financial statement and tax bases of assets and liabilities. Deferred tax assets or liabilities are computed based on the difference between the financial statement and income tax bases of assets and liabilities using enacted tax rates. Valuation allowances are recorded to reduce deferred tax assets when it is more likely than not that a tax benefit will not be realized. Deferred income tax expenses or credits are based on the changes in the asset or liability from period to period.
Foreign Currency Translation and Transactions

Foreign Currency Translation and Transactions — The functional currency of the Company’s foreign operations is the applicable local currency. The functional currency is translated into U.S. dollars for balance sheet accounts using currency exchange rates in effect as of the balance sheet date, and for revenue and expense accounts using a weighted-average exchange rate during the fiscal year. The translation adjustments are deferred as a separate component of Stockholders’ equity in Accumulated other comprehensive loss. Gains or losses resulting from transactions denominated in foreign currencies are included in Other expense, net in the Consolidated Statements of Income.
Shipping and Handling Fees

Shipping and Handling Fees — Our shipping and handling costs are included in both cost of sales and selling and distribution expense, depending on the nature of such costs. Shipping and handling costs included in cost of sales reflect inventory warehouse costs, product loading and handling costs, and costs associated with transporting finished products from our manufacturing facilities to distribution warehouses. Shipping and handling costs included in selling and distribution expense consist primarily of the cost of shipping products to customers through third party carriers. Shipping and handling costs recorded as a component of selling and distribution expense were approximately $87.2 million, $80.0 million, and $55.3 million for the years ended December 31, 2015, 2014, and 2013, respectively.
Derivative Financial Instruments

Derivative Financial Instruments — From time to time, we utilize derivative financial instruments including interest rate and commodity swaps, foreign currency contracts, and forward purchase contracts to manage our exposure to interest rate, foreign currency, and commodity price risks. We do not hold or issue financial instruments for speculative or trading purposes. The Company accounts for its derivative instruments as either assets or liabilities and carries them at fair value. Derivatives that are not designated as hedges according to GAAP must be adjusted to fair value through earnings. For derivative instruments that are designated as cash flow hedges, the effective portion of the gain or loss is reported as Accumulated other comprehensive loss and reclassified into earnings in the same period when the hedged transaction affects earnings. The ineffective gain or loss is recognized in current earnings. Commodity forward contracts generally qualify for the normal purchases and normal sales scope exception under the guidance for derivative instruments and hedging activities, and therefore are not subject to its provisions. For further information about our derivative instruments, see Note 20.
Capital Lease Obligations

Capital Lease Obligations — Capital lease obligations represent machinery and equipment financing obligations, which are generally payable in monthly installments of principal and interest, and are collateralized by the related assets financed.
Insurance Accruals

Insurance Accruals — We retain selected levels of property and casualty risks, primarily related to employee health care, workers’ compensation claims, and other casualty losses. Many of these potential losses are covered under conventional insurance programs with third party carriers having high deductible limits. In other areas, we are self-insured with stop-loss coverage. Accrued liabilities for incurred but not reported losses related to these retained risks are calculated based upon loss development factors that consider a number of elements, including claims history and expected trends. We develop these accruals with external insurance brokers and actuaries.
Facility Closing and Reorganization Costs

Facility Closing and Reorganization Costs — We periodically record facility closing and reorganization charges when we have identified a facility for closure or other reorganization opportunity, developed a plan, and notified the affected employees. These charges are incurred as a component of operating income. See Note 3 for more information.
Research and Development Costs

Research and Development Costs — We record research and development charges to expense as they are incurred and report them in the General and administrative expense line of our Consolidated Statements of Income. Expenditures totaled $14.3 million, $12.8 million, and $17.5 million for the years ended December 31, 2015, 2014, and 2013, respectively.
Advertising Costs

Advertising Costs — Advertising costs are expensed as incurred and reported in the Selling and distribution expense line of our Consolidated Statements of Income.
v3.3.1.900
Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2015
Estimated Useful Lives of Assets

Depreciation and amortization are calculated using the straight-line method over the estimated useful lives of the assets as follows:

 

Asset

   

Useful Life

Buildings and improvements

    12-40 years

Machinery and equipment

    3-15 years

Office furniture and equipment

    3-12 years
Estimated Useful Lives of Intangible Assets

Identifiable intangible assets with finite lives are amortized over their estimated useful lives as follows:

 

Asset

   

Useful Life

Customer relationships

    Straight-line method over 5 to 20 years

Trademarks

    Straight-line method over 10 to 20 years

Non-competition agreements

    Straight-line method over the terms of the agreements

Deferred financing costs associated with line-of-credit arrangements

    Straight-line method over the terms of the arrangements

Formulas/recipes

    Straight-line method over 5 to 7 years

Computer software

    Straight-line method over 2 to 7 years
v3.3.1.900
Restructuring (Tables)
 12 Months Ended
Dec. 31, 2015
Aggregate Expenses Incurred Associated with Facility Closure

Below is a summary of the plant closing costs:

 

     City of Industry Closure  
     Year Ended
December 31, 2015		      Cumulative Costs
To Date		      Total Expected
Costs		  
     (In thousands)  

Asset-related

    $ 3,020       $ 3,020       $ 3,716   

Employee-related

      1,162         1,162         1,964   

Other closure costs

      29         29         5,189   
  

 

 

     

 

 

     

 

 

  

Total

    $ 4,211       $ 4,211       $ 10,869   
  

 

 

     

 

 

     

 

 

  
v3.3.1.900
Acquisitions (Tables)
 12 Months Ended
Dec. 31, 2015
Flagstone  
Purchase Price Allocation to Net Tangible and Intangible Assets Acquired and Liabilities Assumed

We have completed the allocation of the purchase price to net tangible and intangible assets acquired and liabilities assumed as follows:

 

     (In thousands)  

Cash

    $ 902   

Receivables

      55,640   

Inventory

      128,224   

Property, plant, and equipment

      37,154   

Customer relationships

      231,700   

Trade names

      6,300   

Supplier relationships

      2,500   

Software

      1,755   

Formulas

      1,600   

Other assets

      35,081   

Goodwill

      511,274   
  

 

 

  

Fair value of assets acquired

      1,012,130   

Deferred taxes

      (81,602 ) 

Assumed liabilities

      (75,397 ) 
  

 

 

  

Total purchase price

    $ 855,131   
  

 

 

  
Business Acquisition Pro Forma Information

The following unaudited pro forma information shows the results of operations for the Company as if the acquisition of Protenergy had been completed as of January 1, 2014. Adjustments have been made for the pro forma effects of depreciation and amortization of tangible and intangible assets recognized as part of the business combination, interest expense related to the financing of the business combination, and related income taxes. These pro forma results may not necessarily reflect actual results of operations that would have been achieved, nor are they necessarily indicative of future results of operations.

 

     Year Ended
December 31, 2014		  
    

(In thousands,

except per share data)

  

Pro forma net sales

    $ 3,006,860   
  

 

 

  

Pro forma net income

    $ 82,320   
  

 

 

  

Pro forma basic earnings per common share

    $ 2.09   
  

 

 

  

Pro forma diluted earnings per common share

    $ 2.05   
  

 

 

  
Protenergy  
Purchase Price Allocation to Net Tangible and Intangible Assets Acquired and Liabilities Assumed

We have completed the allocation of the purchase price to net tangible and intangible assets acquired and liabilities assumed as follows:

 

     (In thousands)  

Cash

    $ 2,580   

Receivables

      10,949   

Inventory

      38,283   

Property, plant, and equipment

      36,355   

Customer relationships

      49,516   

Software

      1,483   

Formulas

      433   

Other assets

      2,425   

Goodwill

      50,728   
  

 

 

  

Fair value of assets acquired

      192,752   

Assumed liabilities

      (42,412 ) 

Unfavorable contractual agreements

      (7,643 ) 
  

 

 

  

Total purchase price

    $ 142,697   
  

 

 

  
Business Acquisition Pro Forma Information

The following unaudited pro forma information shows the results of operations for the Company as if its acquisition of Flagstone had been completed as of January 1, 2014. Adjustments have been made for the pro forma effects of depreciation and amortization of tangible and intangible assets recognized as part of the business combination, the issuance of common stock, interest expense related tangible and intangible assets recognized as part of the business combination, the issuance of common stock, interest expense related to the financing of the business combination, and related income taxes. The pro forma results may not necessarily reflect actual results of operations that would have been achieved, nor are they necessarily indicative of future results of operations.

 

     Year Ended
December 31, 2014		  
    

(In thousands,

except per share data)

  

Pro forma net sales

    $ 3,332,108   
  

 

 

  

Pro forma net income

    $ 82,812   
  

 

 

  

Pro forma basic earnings per common share

    $ 1.97   
  

 

 

  

Pro forma diluted earnings per common share

    $ 1.93   
  

 

 

  
v3.3.1.900
Investments (Tables)
 12 Months Ended
Dec. 31, 2015
Investments
     December 31,  
     2015      2014  
     (In thousands)  

U.S. equity

    $ 5,283       $ 5,749   

Non-U.S. equity

      1,574         1,692   

Fixed income

      1,531         1,707   
  

 

 

     

 

 

  

Total investments

    $ 8,388       $ 9,148   
  

 

 

     

 

 

  
v3.3.1.900
Inventories (Tables)
 12 Months Ended
Dec. 31, 2015
Inventories
     December 31,  
     2015      2014  
     (In thousands)  

Raw materials and supplies

    $ 274,007       $ 279,745   

Finished goods

      331,535         334,856   

LIFO reserve

      (21,427 )       (20,503 ) 
  

 

 

     

 

 

  

Total inventories

    $ 584,115       $ 594,098   
  

 

 

     

 

 

  
v3.3.1.900
Property, Plant, and Equipment (Tables)
 12 Months Ended
Dec. 31, 2015
Property, Plant, and Equipment
     December 31,  
     2015      2014  
     (In thousands)  

Land

    $ 25,954       $ 27,097   

Buildings and improvements

      226,134         209,117   

Machinery and equipment

      681,711         644,333   

Construction in progress

      24,493         35,010   
  

 

 

     

 

 

  

Total

      958,292         915,557   

Less accumulated depreciation

      (416,764 )       (371,779 ) 
  

 

 

     

 

 

  

Property, plant, and equipment, net

    $ 541,528       $ 543,778   
  

 

 

     

 

 

  
v3.3.1.900
Goodwill and Intangible Assets (Tables)
 12 Months Ended
Dec. 31, 2015
Changes in Carrying Amount of Goodwill

Changes in the carrying amount of goodwill for the years ended December 31, 2015 and 2014 are as follows:

 

     North American
Retail Grocery		      Food Away
From Home		      Industrial
and Export		      Total  
     (In thousands)  

Balance at January 1, 2014

    $ 884,768       $ 95,572       $ 138,864       $ 1,119,204   

Acquisitions

      556,599         —           —           556,599   

Purchase price adjustments

      5,991         (61 )       (116 )       5,814   

Reallocation of goodwill

      4,461         96         (4,557 )       —     

Foreign currency exchange adjustments

      (12,343 )       (1,184 )       (105 )       (13,632 ) 
  

 

 

     

 

 

     

 

 

     

 

 

  

Balance at December 31, 2014

      1,439,476         94,423         134,086         1,667,985   

Purchase price adjustments

      5,556         —           —           5,556   

Foreign currency exchange adjustments

      (21,591 )       (2,156 )       —           (23,747 ) 
  

 

 

     

 

 

     

 

 

     

 

 

  

Balance at December 31, 2015

    $ 1,423,441       $ 92,267       $ 134,086       $ 1,649,794   
  

 

 

     

 

 

     

 

 

     

 

 

  
Carrying Amounts of Indefinite Lives Intangible Assets Other Than Goodwill

The carrying amounts of our intangible assets with indefinite lives, other than goodwill, as of December 31, 2015 and 2014 are as follows:

 

     December 31,  
     2015      2014  
     (In thousands)  

Trademarks

    $ 25,229       $ 28,995   
  

 

 

     

 

 

  

Total indefinite lived intangibles

    $ 25,229       $ 28,995   
  

 

 

     

 

 

  
Gross Carrying Amounts and Accumulated Amortization of Intangible Assets, with Finite Lives

The gross carrying amounts and accumulated amortization of intangible assets, with finite lives, as of December 31, 2015 and 2014 are as follows:

 

     December 31,  
     2015      2014  
     Gross
Carrying
Amount		      Accumulated
Amortization		     Net
Carrying
Amount		      Gross
Carrying
Amount		      Accumulated
Amortization		     Net
Carrying
Amount		  
     (In thousands)  

Intangible assets with finite lives:

                

Customer-related (1)

    $ 769,419       $ (208,962 )    $ 560,457       $ 794,300       $ (168,462 )    $ 625,838   

Contractual agreements (2)

      2,964         (2,831 )      133         2,829         (2,396 )      433   

Trademarks (3)

      32,240         (11,091 )      21,149         32,579         (9,041 )      23,538   

Formulas/recipes (4)

      10,471         (7,824 )      2,647         10,763         (7,138 )      3,625   

Computer software (5)

      78,039         (40,999 )      37,040         65,202         (31,333 )      33,869   
  

 

 

     

 

 

    

 

 

     

 

 

     

 

 

    

 

 

  

Total other intangibles

    $ 893,133       $ (271,707 )    $ 621,426       $ 905,673       $ (218,370 )    $ 687,303   
  

 

 

     

 

 

    

 

 

     

 

 

     

 

 

    

 

 

  

 

As of December 31, 2015, the weighted average remaining useful lives for the amortizable intangible assets are (1) customer-related at 13.0 years, (2) contractual agreements at 2.3 years, (3) trademarks at 10.9 years, (4) formulas/recipes at 3.8 years, and (5) computer software at 4.4 years. The weighted average remaining useful life in total for all amortizable intangible assets is 12.5 years as of December 31, 2015.
Estimated Amortization Expense on Intangible Assets

years ended December 31, 2015, 2014, and 2013, respectively. Estimated amortization expense on intangible assets for the next five years is as follows:

 

     (In thousands)  

2016

    $ 59,120   

2017

    $ 58,200   

2018

    $ 52,555   

2019

    $ 51,117   

2020

    $ 49,677   
v3.3.1.900
Accounts Payable and Accrued Expenses (Tables)
 12 Months Ended
Dec. 31, 2015
Accounts Payable and Accrued Expenses
     December 31,  
     2015      2014  
     (In thousands)  

Accounts payable

    $ 202,065       $ 217,226   

Payroll and benefits

      27,467         38,669   

Interest

      6,241         6,507   

Taxes

      1,499         5,947   

Health insurance, workers’ compensation, and other insurance costs

      9,331         8,602   

Marketing expenses

      7,435         12,479   

Other accrued liabilities

      6,542         7,430   
  

 

 

     

 

 

  

Total

    $ 260,580       $ 296,860   
  

 

 

     

 

 

  
v3.3.1.900
Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2015
Components of Income Before Income Taxes

Components of income before income taxes are as follows:

 

     Year Ended December 31,  
     2015      2014      2013  
     (In thousands)  

Domestic source

    $ 179,445       $ 147,452       $ 128,685   

Foreign source

      (8,181 )       (10,882 )       (3,775 ) 
  

 

 

     

 

 

     

 

 

  

Income before income taxes

    $ 171,264       $ 136,570       $ 124,910   
  

 

 

     

 

 

     

 

 

  
Components of Provision for Income Taxes

The following table presents the components of the 2015, 2014, and 2013 provision for income taxes:

 

     Year Ended December 31,  
     2015      2014      2013  
     (In thousands)  

Current:

         

Federal

    $ 57,237       $ 34,447       $ 41,161   

State

      9,276         5,771         8,185   

Foreign

      (4,153 )       (1,629 )       470   
  

 

 

     

 

 

     

 

 

  

Total current

      62,360         38,589         49,816   

Deferred:

         

Federal

      (5,721 )       8,176         (8,236 ) 

State

      (2,002 )       605         (3,404 ) 

Foreign

      1,717         (680 )       (254 ) 
  

 

 

     

 

 

     

 

 

  

Total deferred

      (6,006 )       8,101         (11,894 ) 
  

 

 

     

 

 

     

 

 

  

Total income tax expense

    $ 56,354       $ 46,690       $ 37,922   
  

 

 

     

 

 

     

 

 

  
Reconciliation of Income Tax Expense Computed at U.S. Federal Statutory Tax Rate to Income Tax Expense

The following is a reconciliation of income tax expense computed at the U.S. federal statutory tax rate to the income tax expense reported in the Consolidated Statements of Income:

 

     Year Ended December 31,  
     2015      2014      2013  
     (In thousands)  

Tax at statutory rate

    $ 59,942       $ 47,800       $ 43,719   

State income taxes

      4,728         4,145         3,108   

Tax benefit of cross-border intercompany financing structure

      (3,962 )       (4,579 )       (4,909 ) 

Domestic production activities deduction

      (5,423 )       (4,173 )       (3,880 ) 

Other, net

      1,069         3,497         (116 ) 
  

 

 

     

 

 

     

 

 

  

Total provision for income taxes

    $ 56,354       $ 46,690       $ 37,922   
  

 

 

     

 

 

     

 

 

  
Tax Effects of Temporary Differences Giving Rise to Deferred Income Tax Assets and Liabilities

The tax effects of temporary differences giving rise to deferred income tax assets and liabilities were:

 

     December 31,  
     2015      2014  
     (In thousands)  

Deferred tax assets:

      

Pension and postretirement benefits

    $ 7,373       $ 8,569   

Accrued liabilities

      13,639         16,277   

Stock compensation

      16,644         15,516   

Unrealized foreign exchange loss

      7,449         3,966   

Loss and credit carryovers

      5,584         14,732   

Other

      16,279         12,269   
  

 

 

     

 

 

  

Total deferred tax assets

      66,968         71,329   

Deferred tax liabilities:

      

Fixed assets and intangible assets

      (346,076 )       (355,219 ) 
  

 

 

     

 

 

  

Total deferred tax liabilities

      (346,076 )       (355,219 ) 
  

 

 

     

 

 

  

Net deferred income tax liability

    $ (279,108 )     $ (283,890 ) 
  

 

 

     

 

 

  
Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits

 A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:

 

     Year Ended December 31,  
     2015      2014      2013  
     (In thousands)  

Unrecognized tax benefits beginning balance

    $ 13,211       $ 12,499       $ 9,528   

Additions based on tax positions related to the current year

      55         476         8,834   

Additions based on tax positions of prior years

      1,549         83         1,001   

Additions resulting from acquisitions

      6,391         11,366         —     

Reductions for tax positions of prior years

      (1,384 )       (11,163 )       (6,350 ) 

Payments

      —           (50 )       (514 ) 

Foreign currency translation

      (280 )       —           —     
  

 

 

     

 

 

     

 

 

  

Unrecognized tax benefits ending balance

    $ 19,542       $ 13,211       $ 12,499   
  

 

 

     

 

 

     

 

 

  
v3.3.1.900
Long-Term Debt (Tables)
 12 Months Ended
Dec. 31, 2015
Long-Term Debt
     December 31,  
     2015      2014  
     (In thousands)  

Revolving Credit Facility

    $ 353,000       $ 554,000   

Term Loan A

      295,500         298,500   

Term Loan A-1

      190,000         197,500   

2022 Notes

      400,000         400,000   

Tax increment financing and other debt

      6,002         9,861   
  

 

 

     

 

 

  

Total outstanding debt

      1,244,502         1,459,861   

Deferred financing costs

      (7,868 )       (9,118 ) 

Less current portion

      (14,893 )       (12,994 ) 
  

 

 

     

 

 

  

Total long-term debt

    $ 1,221,741       $ 1,437,749   
  

 

 

     

 

 

  
Scheduled Maturities of Outstanding Debt, Excluding Deferred Financing Costs

The scheduled maturities of outstanding debt, excluding deferred financing costs, at December 31, 2015 are as follows (in thousands):

 

2016

    $ 16,272   

2017

      14,649   

2018

      16,085   

2019

      513,884   

2020

      3,062   

Thereafter

      680,550   
  

 

 

  

Total outstanding debt

    $ 1,244,502   
  

 

 

  
v3.3.1.900
Earnings Per Share (Tables)
 12 Months Ended
Dec. 31, 2015
Summary of Effect of Share-Based Compensation Awards on Weighted Average Number of Shares Outstanding Used in Calculating Diluted Earnings Per Share

The following table summarizes the effect of the share-based compensation awards on the weighted average number of shares outstanding used in calculating diluted earnings per share:

 

     Year Ended December 31,  
     2015      2014      2013  
     (In thousands, except per share data)  

Net income

    $ 114,910       $ 89,880       $ 86,988   
  

 

 

     

 

 

     

 

 

  

Weighted average common shares outstanding

      43,052         39,348         36,418   

Assumed exercise/vesting of equity awards (1)

      657         890         978   
  

 

 

     

 

 

     

 

 

  

Weighted average diluted common shares outstanding

      43,709         40,238         37,396   
  

 

 

     

 

 

     

 

 

  

Net earnings per basic share

    $ 2.67       $ 2.28       $ 2.39   

Net earnings per diluted share

    $ 2.63       $ 2.23       $ 2.33   

 

(1) Incremental shares from equity awards are computed by the treasury stock method. Equity awards, excluded from our computation of diluted earnings per share because they were anti-dilutive, were 0.7 million, 0.4 million, and 0.5 million for the years ended December 31, 2015, 2014, and 2013, respectively.
v3.3.1.900
Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2015
Summary of Stock Option Activity

The following table summarizes stock option activity during 2015:

 

     Employee
Options		     Director
Options		     Weighted
Average
Exercise
Price		      Weighted
Average
Remaining
Contractual
Term (yrs.)		      Aggregate
Intrinsic
Value		  
     (In thousands)                   (In thousands)  

Outstanding, at January 1, 2015

      1,858        42      $ 49.53         5.7       $ 68,396   

Granted

      407        —        $ 76.61         

Forfeited

      (78 )      —        $ 76.32         

Exercised

      (269 )      (22 )    $ 29.32         
  

 

 

    

 

 

          

Outstanding, at December 31, 2015

      1,918        20      $ 57.18         6.2       $ 41,793   
  

 

 

    

 

 

          

Vested/expect to vest, at December 31, 2015

      1,869        20      $ 56.67         6.1       $ 41,697   
  

 

 

    

 

 

          

Exercisable, at December 31, 2015

      1,235        20      $ 46.81         4.7       $ 39,866   
  

 

 

    

 

 

          
Highlight of Stock Options Activity
     Year Ended December 31,  
     2015      2014      2013  
     (In millions)  

Intrinsic value of stock options exercised

    $ 15.7       $ 53.7       $ 6.4   

Compensation expense

    $ 6.6       $ 5.4       $ 3.8   

Tax benefit recognized from stock option exercises

    $ 6.0       $ 20.7       $ 2.7   
Assumptions Used to Calculate Value of Option Awards Granted

The assumptions used to calculate the value of the stock option awards granted in 2015, 2014, and 2013 are presented as follows:

 

     2015     2014     2013  

Weighted average expected volatility

      25.07 %      25.18 %      30.21 % 

Weighted average risk-free interest rate

      1.97 %      2.03 %      0.995 % 

Expected dividends

      0.00 %      0.00 %      0.00 % 

Expected term

      6.0 years        6.0 years        6.0 years   
Summary of Restricted Stock Unit Activity

The following table summarizes the restricted stock unit activity during the year ended December 31, 2015:

 

     Employee
Restricted
Stock Units		      Weighted
Average
Grant Date
Fair Value		      Director
Restricted
Stock Units		      Weighted
Average
Grant Date
Fair Value		  
     (In thousands)             (In thousands)         

Outstanding, at January 1, 2015

      392       $ 71.97         101       $ 49.71   

Granted

      181       $ 77.06         16       $ 76.30   

Vested

      (186 )     $ 67.93         (6 )     $ 68.58   

Forfeited

      (75 )     $ 76.36         —         $ —     
  

 

 

        

 

 

     

Outstanding, at December 31, 2015

      312       $ 76.36         111       $ 52.60   
  

 

 

        

 

 

     
Highlights of Restricted Stock Unit Activity
     Year Ended December 31,  
     2015      2014      2013  
     (In millions)  

Compensation expense

    $ 11.7       $ 11.9       $ 8.9   

Fair value of vested restricted stock units

    $ 14.9       $ 12.9       $ 9.8   

Tax benefit recognized from vested restricted stock units

    $ 4.9       $ 4.7       $ 3.3   
Summary of Performance Unit Activity

The following table summarizes the performance unit activity during the year ended December 31, 2015:

 

     Performance
Units		      Weighted
Average
Grant Date
Fair Value		  
     (In thousands)         

Unvested, at January 1, 2015

      269       $ 68.76   

Granted

      106       $ 76.30   

Vested

      (67 )     $ 60.88   

Forfeited

      (37 )     $ 65.06   
  

 

 

     

Unvested, at December 31, 2015

      271       $ 74.13   
  

 

 

     
Highlight of Performance Unit Activity
       Year Ended December 31,    
     2015      2014      2013  
     (In millions)  

Compensation expense

    $ 4.6       $ 7.8       $ 3.4   

Fair value of vested performance units

    $ 5.1       $ 0.4       $ 2.0   

Tax benefit recognized from performance units vested

    $ 1.9       $ 0.2       $ 0.7   
v3.3.1.900
Accumulated Other Comprehensive Loss (Tables)
 12 Months Ended
Dec. 31, 2015
Components of Accumulated Other Comprehensive Loss Net of Tax Except for Foreign Currency Translation Adjustment

Accumulated other comprehensive loss consists of the following components, all of which are net of tax, except for the foreign currency translation adjustment:

 

     Foreign
Currency
Translation (1)		      Unrecognized
Pension and
Postretirement
Benefits (2)		      Derivative
Financial
Instrument (3)		      Accumulated
Other
Comprehensive
Loss		  
     (In thousands)  

Balance at January 1, 2013

    $ (2,007 )     $ (14,525 )     $ (108 )     $ (16,640 ) 

Other comprehensive loss

      (22,682 )       —           —           (22,682 ) 

Reclassifications from accumulated other comprehensive loss

      —           7,451         108         7,559   
  

 

 

     

 

 

     

 

 

     

 

 

  

Other comprehensive (loss) income

      (22,682 )       7,451         108         (15,123 ) 
  

 

 

     

 

 

     

 

 

     

 

 

  

Balance at December 31, 2013

      (24,689 )       (7,074 )       —           (31,763 ) 

Other comprehensive loss

      (26,637 )       —           —           (26,637 ) 

Reclassifications from accumulated other comprehensive loss

      —           (5,931 )       —           (5,931 ) 
  

 

 

     

 

 

     

 

 

     

 

 

  

Other comprehensive loss

      (26,637 )       (5,931 )       —           (32,568 ) 
  

 

 

     

 

 

     

 

 

     

 

 

  

Balance at December 31, 2014

      (51,326 )       (13,005 )       —           (64,331 ) 

Other comprehensive loss

      (49,186 )       —           —           (49,186 ) 

Reclassifications from accumulated other comprehensive loss

      —           49         —           49   
  

 

 

     

 

 

     

 

 

     

 

 

  

Other comprehensive (loss) income

      (49,186 )       49         —           (49,137 ) 
  

 

 

     

 

 

     

 

 

     

 

 

  

Balance at December 31, 2015

    $ (100,512 )     $ (12,956 )     $ —         $ (113,468 ) 
  

 

 

     

 

 

     

 

 

     

 

 

  

 

(1) The foreign currency translation adjustment is not net of tax, as it pertains to the Company’s permanent investment in its Canadian subsidiaries.
(2) The unrecognized pension and postretirement benefits reclassification is presented net of tax of $30 thousand, $(3,683) thousand, and $4,592 thousand for the years ended December 31, 2015, 2014, and 2013, respectively.
(3) The derivative financial instrument reclassification is presented net of tax of $68 thousand for the year ended December 31, 2013.
Reclassifications from Accumulated Other Comprehensive Income
    Reclassifications from Accumulated
Other Comprehensive Loss		     Affected Line in The
Consolidated
Statements of Income		  
  Year Ended December 31,        
    2015     2014     2013        
          (In thousands)              

Derivative financial instrument

   $ —        $ —        $ 176        Interest expense   

Income taxes

     —          —          68        Income taxes   
 

 

 

    

 

 

    

 

 

    

Net of tax

   $ —        $ —        $ 108     
 

 

 

    

 

 

    

 

 

    

Amortization of defined benefit pension and postretirement items:

        

Prior service costs

   $ 139      $ 139      $ 385        (a)   

Unrecognized net loss

     1,576        681        1,880        (a)   

Actuarial Adjustment

     (1,636 )      (10,434 )      9,717        (b)   

Other

     —          —          61     
 

 

 

    

 

 

    

 

 

    

Total before tax

     79        (9,614 )      12,043     

Income taxes

     (30 )      3,683        (4,592 )      Income taxes   
 

 

 

    

 

 

    

 

 

    

Net of tax

   $ 49      $ (5,931 )    $ 7,451     
 

 

 

    

 

 

    

 

 

    

 

(a) These accumulated other comprehensive income components are included in the computation of net periodic pension and postretirement cost. See Note 16 for additional details.
(b) Represents the actuarial adjustment needed to adjust the Accumulated other comprehensive loss balance to actual.
v3.3.1.900
Employee Pension and Postretirement Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2015
Multiemployer Pension Plans

There have been no significant changes in the number of Company employees covered by the multiemployer plans or other significant events that would affect the comparability of contributions to the plans.

 

            Pension Protection
Act
Zone Status		   FIP
Implemented
(yes or no)		   TreeHouse Foods
Contributions
(In thousands)		     Surcharge
Imposed
(yes or no)		   Expiration
Date
Of Collective
Bargaining
Agreement		  

Plan Name:

   EIN
Number		   Plan
Number		   Plan Year Ended
December 31,		        
          2014           2013         2015     2014     2013      

Central States Southeast and Southwest Areas Pension Fund

   36-2154936   1   Red   Red   Yes   $ 610      $  617      $  592      No     12/27/2016   

Rockford Area Dairy Industry Local 754, Intl. Brotherhood of Teamsters Retirement Pension Plan

   36-6067654   1   Green   Green   No   $  416      $ 474      $ 384      No     4/30/2017   

Western Conference of Teamsters Pension Fund

   91-6145047   1   Green   Green   No   $ 345      $ 336      $ 361      No     2/28/2016   
Multiemployer Plans Providing More Than Five Percent of Total Contributions For Following Plan and Plan Years

The Company was listed in the following plan’s Form 5500 as providing more than 5.0% of the total contributions for the following plan and plan years:

 

Plan Name:

    Years Contributions to Plan
Exceeded More Than 5% of total
Contributions (as of December  31
Of the Plan’s Year-End)		  

Rockford Area Dairy Industry Local 754, Intl. Brotherhood of Teamsters Retirement Pension Plan

      2015, 2014, and 2013   
Fair Value of Pension Plan Assets, by Asset Category

The fair value of the Company’s pension plan assets at December 31, 2015 and 2014, by asset category is as follows:

 

     Pension Plan Assets
Fair Value
Measurements at
December 31, (h)		  
     2015      2014  
     (In thousands)  

Short Term Investment Fund (a)

    $ 228       $ 52   

Aggregate Bond Index Fund (b)

      9,945         10,312   

U.S. Market Cap Equity Index Fund (c)

      24,613         25,858   

International All Country World Index Fund (d)

      3,421         3,407   

Collective Daily 1-5 year Credit Bond Fund (e)

      7,787         8,234   

Emerging Markets Index Fund (f)

      1,417         1,375   

Daily High Yield Fixed Income Fund (g)

      1,942         2,074   
  

 

 

     

 

 

  
   $ 49,353       $ 51,312   
  

 

 

     

 

 

  

 

(a) This fund is an investment vehicle for cash reserves, which seeks to offer a competitive rate of return through a portfolio of high-grade, short term, and money market instruments. Principal preservation is the primary objective of this fund.
(b) The primary objective of this fund is to hold a portfolio representative of the overall United States bond and debt market, as characterized by the Barclays Capital Aggregate Bond Index.
(c) The primary objective of this fund is to approximate the risk and return characteristics of the Dow Jones U.S. ex-LP’s Total Stock Market Index.
(d) The primary objective of this fund is to approximate the risk and return characteristics of the Morgan Stanley All Country World ex-US (MSCI ACWI ex-US) ND Index. This fund is commonly used to represent the non-U.S. equity in developed and emerging markets.
(e) The primary objective of this fund is to hold a portfolio representative of the intermediate credit securities portion of the United States bond and debt markets, as characterized by the Barclays Capital U.S. 1-5 year Credit Bond Index.
(f) The primary objective of this fund is to provide investment results that replicate the overall performance of the MSCI Emerging Markets Index. The Fund may make limited use of futures and/or options to maintain equity exposure.
(g) The primary objective of this fund is to outperform the Barclay’s Capital High Yield Index over a market cycle while maintaining a similar level of volatility and credit quality as the index. This Fund can serve as a core bond investment position, providing exposure to the U.S. Fixed Income market.
(h) As described in in Note 2, the Company adopted ASU 2015-07, which removes the requirement to categorize investments within the fair value hierarchy for which fair value is measured using the net asset value per share practical expedient. As the fair values of all of these assets are measured using the net asset value per share practical expedient, levels within the fair value hierarchy are not provided for these assets.
Summarized Information about Pension and Postretirement Benefit Plans

The following table summarizes information about our pension and postretirement benefit plans for the years ended December 31, 2015 and 2014:

 

     Pension Benefits     Postretirement
Benefits		  
     2015     2014     2015     2014  
     (In thousands)     (In thousands)  

Change in benefit obligation:

         

Benefit obligation, at beginning of year

    $ 67,605      $ 56,672      $ 3,463      $ 3,155   

Service cost

      2,374        2,107        15        17   

Interest cost

      2,850        2,772        144        153   

Settlements

      —          98        —          —     

Actuarial (gains) losses

      (1,813 )      10,707        (449 )      218   

Benefits paid

      (3,165 )      (4,751 )      (153 )      (80 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Benefit obligation, at end of year

      $67,851        $67,605        $3,020        $3,463   
  

 

 

    

 

 

    

 

 

    

 

 

  

Change in plan assets:

         

Fair value of plan assets, at beginning of year

    $ 51,312      $ 48,761      $ —        $ —     

Actual return on plan assets

      (834 )      3,242        —          —     

Company contributions

      2,040        4,060        153        80   

Benefits paid

      (3,165 )      (4,751 )      (153 )      (80 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Fair value of plan assets, at end of year

      $49,353        $51,312        $—          $—     
  

 

 

    

 

 

    

 

 

    

 

 

  

Funded status of the plan

    $ (18,498 )    $ (16,293 )    $ (3,020 )    $ (3,463 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Amounts recognized in the Consolidated Balance Sheets:

         

Current liability

    $ —        $ —        $ (171 )    $ (151 ) 

Non-current liability

      (18,498 )      (16,293 )      (2,849 )      (3,312 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Net amount recognized

    $ (18,498 )    $ (16,293 )    $ (3,020 )    $ (3,463 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Amounts recognized in Accumulated Other Comprehensive Loss:

         

Net actuarial loss

    $ 19,785      $ 19,228      $ 162      $ 659   

Prior service cost

      1,374        1,581        (168 )      (236 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Total, before tax effect

      $21,159        $20,809      $ (6 )      $423   
  

 

 

    

 

 

    

 

 

    

 

 

  
Accumulated Benefit Obligation
     Pension Benefits  
     2015     2014  
     (In thousands)  

Accumulated benefit obligation

    $ 65,323      $ 65,497   
Weighted Average Assumptions Used
     Pension Benefits     Postretirement Benefits  
     2015     2014         2013             2015             2014             2013      

Weighted average assumptions used todetermine the periodic benefit costs:

             

Discount rate

      4.25 %      4.50% - 5.00 %      4.25 %      4.25 %      5.00 %      4.25 % 

Rate of compensation increases

      3.00 - 4.00 %      3.00% - 4.00 %      3.00% - 4.00 %      —          —          —     

Expected return on plan assets

      6.00 %      6.50 %      6.50 %      —          —          —     
Key Actuarial Assumptions Used to Determine Postretirement Benefit Obligations

The key actuarial assumptions used to determine the postretirement benefit obligations as of December 31, 2015 and 2014 are as follows:

 

     2015     2014  
     Pre-65     Post 65     Pre-65     Post 65  

Health care cost trend rates:

         

Health care cost trend rate for next year

      8.00 %      7.50 %      8.00 %      7.50 % 

Ultimate rate

      5.00 %      5.00 %      5.00 %      5.00 % 

Discount rate

      4.50 %      4.50 %      4.25 %      4.25 % 

Year ultimate rate achieved

      2024        2023        2023        2020   
Summary of Net Periodic Cost of Pension and Postretirement Benefit Plans

The following table summarizes the net periodic cost of our pension and postretirement benefit plans, for the years ended December 31, 2015, 2014, and 2013:

 

     Pension Benefits     Postretirement
Benefits		  
     2015     2014     2013     2015     2014     2013  
     (In thousands)     (In thousands)  

Components of net periodic costs:

             

Service cost

    $ 2,374      $ 2,107      $ 2,407      $ 15      $ 17      $ 22   

Interest cost

      2,850        2,772        2,466        144        153        138   

Expected return on plan assets

      (3,064 )      (3,217 )      (2,665 )      —          —          —     

Amortization of unrecognized prior service cost

      207        207        455        (68 )      (68 )      (68 ) 

Amortization of unrecognized net loss

      1,528        663        1,733        48        18        46   

ASC 715 settlement charge

      —          564        —          —          —          —     
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net periodic cost

    $ 3,895      $ 3,096      $ 4,396      $ 139      $ 120      $ 138   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  
Estimated Amount That Will be Amortized From Accumulated Other Comprehensive Loss Into Net Pension Cost

The estimated amount that will be amortized from accumulated other comprehensive loss into net periodic cost in 2016 is as follows:

 

     Pension      Postretirement  
     (In thousands)  

Net actuarial loss (gain)

    $ 1,530       $ (7 ) 

Prior service cost

    $ 207       $ (68 ) 
Estimated Future Pension and Postretirement Benefit Payments

Estimated future pension and postretirement benefit payments from the plans are as follows:

 

     Pension
Benefit		      Postretirement
Benefit		  
     (In thousands)  

2016

    $ 3,251       $ 171   

2017

    $ 3,186       $ 157   

2018

    $ 3,487       $ 151   

2019

    $ 3,602       $ 151   

2020

    $ 3,736       $ 159   

2021-25

    $ 20,796       $ 880   
Effect of One Percent Change in Health Care Trend Rates on Postretirement Benefit Plan

The effect of a 1% change in health care trend rates would have the following effects on the postretirement benefit plan:

 

     2015  
     (In thousands)  

1% Increase:

   

Benefit obligation, end of year

    $ 315   

Service cost plus interest cost for the year

    $ 15   

1% Decrease:

   

Benefit obligation, end of year

    $ (262 ) 

Service cost plus interest cost for the year

    $ (12 ) 
Pension Benefits  
Weighted Average Assumptions Used
     Pension Benefits  
     2015     2014  
     (In thousands)  

 

        

Weighted average assumptions used to determine the pension benefit obligations:

     

Discount rate

      4.50 %      4.25 % 

Rate of compensation increases

      3.00% - 4.00 %      3.00% - 4.00 % 
v3.3.1.900
Other Operating Expense, Net (Tables)
 12 Months Ended
Dec. 31, 2015
Other Operating Expenses

The Company incurred other operating expense for the years ended December 31, 2015, 2014, and 2013, respectively, which consisted of the following:

 

     Year Ended December 31,  
     2015      2014      2013  
     (In thousands)  

Restructuring

    $ 1,817       $ 2,421       $ 5,947   
  

 

 

     

 

 

     

 

 

  

Total other operating expense, net

    $ 1,817       $ 2,421       $ 5,947   
  

 

 

     

 

 

     

 

 

  
v3.3.1.900
Supplemental Cash Flow Information (Tables)
 12 Months Ended
Dec. 31, 2015
Supplemental Cash Flow Information
     Year Ended December 31,  
     2015      2014      2013  
     (In thousands)  

Interest paid

    $ 41,940       $ 43,598       $ 45,998   

Income taxes paid

    $ 50,059       $ 50,590       $ 38,533   

Accrued purchase of property and equipment

    $ 6,925       $ 7,497       $ 8,824   

Accrued other intangible assets

    $ 1,988       $ 2,005       $ 1,664   
v3.3.1.900
Commitments and Contingencies (Tables)
 12 Months Ended
Dec. 31, 2015
Composition of Capital Leases Reflected As Property, Plant And Equipment in Consolidated Balance Sheets

The composition of capital leases, which are reflected as Property, plant, and equipment in the Consolidated Balance Sheets, is as follows:

 

     December 31,  
     2015      2014  
     (In thousands)  

Machinery and equipment

    $ 13,926       $ 14,186   

Less accumulated amortization

      (6,157 )       (4,691 ) 
  

 

 

     

 

 

  

Total

    $ 7,769       $ 9,495   
  

 

 

     

 

 

  
Future Minimum Payments under Non-Cancelable Capital Leases, Operating Leases and Purchase Obligations

Future minimum payments at December 31, 2015 under non-cancelable capital leases, operating leases, and purchase obligations, including input costs such as raw materials, ingredients, and packaging, are summarized as follows:

 

     Capital      Operating      Purchase  
     Leases      Leases      Obligations  
     (In thousands)                

2016

    $ 3,105       $ 21,925       $ 455,799   

2017

      1,360         18,533         26,722   

2018

      256         14,082         1,868   

2019

      71         10,756         1,924   

2020

      67         10,664         1,982   

Thereafter

      55         29,637         2,042   
  

 

 

     

 

 

     

 

 

  

Total minimum payments

      4,914       $ 105,597       $ 490,337   
     

 

 

     

 

 

  

Less amount representing interest

      (167 )       
  

 

 

        

Present value of capital lease obligations

    $ 4,747         
  

 

 

        

v3.3.1.900
Derivative Instruments (Tables)
 12 Months Ended
Dec. 31, 2015
Derivative, Fair Value, and Location on Condensed Consolidated Balance Sheet

The following table identifies the derivative, its fair value, and location on the Consolidated Balance Sheets:

 

          Fair Value  
          December 31,  
          2015      2014  
    

Balance Sheet Location

    (In thousands)  

Asset Derivatives:

         

Foreign currency contracts

    Prepaid expenses and other current assets    $ 1,356       $ —     
     

 

 

     

 

 

  
      $ 1,356       $ —     
     

 

 

     

 

 

  

Liability Derivatives:

         

Commodity contracts

    Accounts payable and accrued expenses    $ 3,778       $ 3,044   
     

 

 

     

 

 

  
      $ 3,778       $ 3,044   
     

 

 

     

 

 

  
Gains and Losses on Derivative Contracts

We recorded the following gains and losses on our derivative contracts in the Consolidated Statements of Income:

 

          Year Ended  
          December 31,  
    

Location of Gain (Loss)

Recognized in Income

    2015     2014  
        (In thousands)  

Mark-to-market unrealized gain (loss):

        

Commodity contracts

    Other expense, net    $ (734 )    $ (3,051 ) 

Foreign currency contracts

    Other expense, net      1,356        —     
     

 

 

    

 

 

  

Total unrealized gain (loss)

         622        (3,051 ) 

Realized (loss):

        

Commodity contracts

    Manufacturing related to cost of sales and transportation related to selling and distribution      (5,169 )      —     

Foreign currency contracts

    Cost of sales      3,821        —     
     

 

 

    

 

 

  

Total realized (loss)

         (1,348 )      —     
     

 

 

    

 

 

  

Total (loss)

       $ (726 )    $ (3,051 ) 
     

 

 

    

 

 

  
v3.3.1.900
Fair Value (Tables)
 12 Months Ended
Dec. 31, 2015
Carrying Value and Fair Value of Financial Instruments

The following table presents the carrying value and fair value of our financial instruments as of December 31, 2015 and December 31, 2014:

 

     December 31, 2015     December 31, 2014        
     Carrying
Value		     Fair Value     Carrying
Value		     Fair Value     Level  
     (In thousands)     (In thousands)        

Not recorded at fair value (liability):

           

Revolving Credit Facility

    $ (353,000 )    $ (352,932 )    $ (554,000 )    $ (559,085 )      2   

Term Loan A

    $ (295,500 )    $ (294,327 )    $ (298,500 )    $ (315,070 )      2   

Term Loan A-1

    $ (190,000 )    $ (190,200 )    $ (197,500 )    $ (202,716 )      2   

2022 Notes

    $ (400,000 )    $ (383,000 )    $ (400,000 )    $ (406,000 )      2   

Recorded on a recurring basis at fair value (liability) asset:

           

Commodity contracts

    $ (3,778 )    $ (3,778 )    $ (3,044 )    $ (3,044 )      2   

Foreign currency contracts

    $ 1,356      $ 1,356      $ —        $ —          2   

Investments

    $ 8,388      $ 8,388      $ 9,148      $ 9,148        1   
v3.3.1.900
Segment and Geographic Information and Major Customers (Tables)
 12 Months Ended
Dec. 31, 2015
Financial Information Relating to Reportable Segments

Financial information relating to the Company’s reportable segments is as follows:

 

    Year Ended December 31,  
    2015     2014     2013  
    (In thousands)  

Net sales to external customers:

      

North American Retail Grocery

   $ 2,437,768      $ 2,173,391      $ 1,642,190   

Food Away From Home

     370,360        380,069        360,868   

Industrial and Export

     398,277        392,642        290,869   
 

 

 

    

 

 

    

 

 

  

Total

   $ 3,206,405      $ 2,946,102      $ 2,293,927   
 

 

 

    

 

 

    

 

 

  

Direct operating income:

      

North American Retail Grocery

   $ 348,827      $ 326,943      $ 258,699   

Food Away From Home

     52,057        47,107        50,110   

Industrial and Export

     72,020        68,109        55,754   
 

 

 

    

 

 

    

 

 

  

Total

     472,904        442,159        364,563   

Unallocated selling and distribution expenses

     (8,934 )      (9,159 )      (5,284 ) 

Unallocated cost of sales (1)

     (170 )      (998 )      (18,728 ) 

Unallocated corporate expense

     (224,064 )      (213,848 )      (162,387 ) 
 

 

 

    

 

 

    

 

 

  

Operating income

     239,736        218,154        178,164   

Other expense

     (68,472 )       (81,584 )      (53,254 ) 
 

 

 

    

 

 

    

 

 

  

Income before income taxes

   $ 171,264      $ 136,570      $ 124,910   
 

 

 

    

 

 

    

 

 

  

Depreciation:

      

North American Retail Grocery

   $ 41,953      $ 40,220      $ 35,962   

Food Away From Home

     8,581        8,472        9,327   

Industrial and Export

     7,047        6,266        5,379   

Corporate office (2)

     3,888        8,323        22,599   
 

 

 

    

 

 

    

 

 

  

Total

   $ 61,469      $ 63,281      $ 73,267   
 

 

 

    

 

 

    

 

 

  

 

(1) 2013 costs primarily related to accelerated depreciation and other charges related to restructurings.
(2) Includes accelerated depreciation related to restructurings for 2013.
Long-Lived Assets by Geographic Region

The geographic location of long-lived assets is as follows:

 

    

 

      December 31,     

 

  
     2015      2014      2013  
     (In thousands)  

Long-lived assets:

         

United States

    $ 496,933       $ 490,850       $ 416,170   

Canada

      44,595         52,928         46,105   
  

 

 

     

 

 

     

 

 

  

Total

    $ 541,528       $ 543,778       $ 462,275   
  

 

 

     

 

 

     

 

 

  
Net Sales by Major Products

The following table presents the Company’s net sales by major products. In 2014, we added a product category (Snacks) due to the acquisition of Flagstone. This change did not require prior period adjustments.

 

     Year Ended December 31,  
     2015      2014      2013  
            (In thousands)         

Products:

         

Snacks

    $ 657,993       $ 287,281       $ —     

Beverages

      433,828         499,829         341,547   

Soup and infant feeding

      381,444         351,917         219,404   

Salad dressings

      351,577         361,859         334,577   

Beverage enhancers

      338,190         359,179         361,290   

Pickles

      316,176         302,621         297,904   

Mexican and other sauces

      222,873         248,979         245,171   

Cereals

      159,761         168,739         169,843   

Dry dinners

      123,600         139,285         124,075   

Aseptic products

      107,723         102,635         96,136   

Other products

      62,037         70,720         46,650   

Jams

      51,203         53,058         57,330   
  

 

 

     

 

 

     

 

 

  

Total net sales

    $ 3,206,405       $ 2,946,102       $ 2,293,927   
  

 

 

     

 

 

     

 

 

  
v3.3.1.900
Quarterly Results of Operations (Tables)
 12 Months Ended
Dec. 31, 2015
Summary of Unaudited Quarterly Results of Operations

The following is a summary of our unaudited quarterly results of operations for 2015 and 2014:

 

     Quarter  
     First      Second (2)      Third (3)      Fourth  
     (In thousands, except per share data)  

Fiscal 2015

            

Net sales

    $ 783,145       $ 759,208       $ 798,638       $ 865,414   

Gross profit

      152,437         151,371         158,697         181,798   

Income before income taxes

      25,801         47,787         40,275         57,401   

Net income

      17,852         31,362         28,441         37,255   

Net income per common share:

            

Basic (1)

      0.42         0.73         0.66         0.86   

Diluted (1)

      0.41         0.72         0.65         0.85   

Fiscal 2014

            

Net sales

    $ 618,903       $ 627,960       $ 795,726       $ 903,513   

Gross profit

      132,991         135,677         158,588         179,348   

Income before income taxes

      20,043         33,740         30,795         51,992   

Net income

      14,322         21,759         19,882         33,917   

Net income per common share:

            

Basic (1)

      0.39         0.59         0.48         0.80   

Diluted (1)

      0.38         0.57         0.47         0.78   

 

(1) Due to rounding and the issuance of shares in July of 2014, the sum of the four quarters may not be the same as the total for the year.
(2) The Company acquired Protenergy in May of 2014.
(3) The Company acquired Flagstone in July of 2014.
v3.3.1.900
Guarantor and Non-Guarantor Financial Information (Tables)
 12 Months Ended
Dec. 31, 2015
Condensed Supplemental Consolidating Balance Sheet

Condensed Supplemental Consolidating Balance Sheet

December 31, 2015

(In thousands)

 

     Parent
Company		      Guarantor
Subsidiaries		     Non-Guarantor
Subsidiaries		     Eliminations     Consolidated  

Assets

            

Current assets:

            

Cash and cash equivalents

    $ 10,384       $ 37      $ 24,498      $ —        $ 34,919   

Investments

      —           —          8,388        —          8,388   

Accounts receivable, net

      17         181,231        21,950        —          203,198   

Inventories, net

      —           500,308        83,807        —          584,115   

Prepaid expenses and other current assets

      17,625         6,580        8,996        (16,618 )      16,583   
  

 

 

     

 

 

    

 

 

    

 

 

    

 

 

  

Total current assets

      28,026         688,156        147,639        (16,618 )      847,203   

Property, plant, and equipment, net

      26,294         448,708        66,526        —          541,528   

Goodwill

      —           1,496,484        153,310        —          1,649,794   

Investment in subsidiaries

      2,411,533         380,955        —          (2,792,488 )      —     

Intercompany accounts receivable (payable), net

      582,266         (543,738 )      (38,528 )      —          —     

Deferred income taxes

      18,092         —          —          (18,092 )      —     

Intangible and other assets, net

      46,041         504,114        114,116        —          664,271   
  

 

 

     

 

 

    

 

 

    

 

 

    

 

 

  

Total assets

    $ 3,112,252       $ 2,974,679      $ 443,063      $ (2,827,198 )    $ 3,702,796   
  

 

 

     

 

 

    

 

 

    

 

 

    

 

 

  

Liabilities and Stockholders’ Equity

            

Current liabilities:

            

Accounts payable and accrued expenses

    $ 16,526       $ 232,938      $ 27,734      $ (16,618 )    $ 260,580   

Current portion of long-term debt

      11,621         1,050        2,222        —          14,893   
  

 

 

     

 

 

    

 

 

    

 

 

    

 

 

  

Total current liabilities

      28,147         233,988        29,956        (16,618 )      275,473   

Long-term debt

      1,219,011         1,062        1,668        —          1,221,741   

Deferred income taxes

      —           273,588        23,612        (18,092 )      279,108   

Other long-term liabilities

      10,235         54,508        6,872        —          71,615   

Stockholders’ equity

      1,854,859         2,411,533        380,955        (2,792,488 )      1,854,859   
  

 

 

     

 

 

    

 

 

    

 

 

    

 

 

  

Total liabilities and stockholders’ equity

    $ 3,112,252       $ 2,974,679      $ 443,063      $ (2,827,198 )    $ 3,702,796   
  

 

 

     

 

 

    

 

 

    

 

 

    

 

 

  

 

Condensed Supplemental Consolidating Balance Sheet

December 31, 2014

(In thousands)

 

     Parent
Company		      Guarantor
Subsidiaries		     Non-Guarantor
Subsidiaries		     Eliminations     Consolidated  

Assets

            

Current assets:

            

Cash and cash equivalents

    $ 18,706       $ 1,592      $ 31,683      $ —        $ 51,981   

Investments

      —           —          9,148        —          9,148   

Accounts receivable, net

      46         186,155        47,455        —          233,656   

Inventories, net

      —           497,513        96,585        —          594,098   

Prepaid expenses and other current assets

      32,849         5,065        7,900        (20,825 )      24,989   
  

 

 

     

 

 

    

 

 

    

 

 

    

 

 

  

Total current assets

      51,601         690,325        192,771        (20,825 )      913,872   

Property, plant, and equipment, net

      28,411         440,613        74,754        —          543,778   

Goodwill

      —           1,490,768        177,217        —          1,667,985   

Investment in subsidiaries

      2,269,325         430,650        —          (2,699,975 )      —     

Intercompany accounts receivable (payable), net

      840,606         (759,593 )      (81,013 )      —          —     

Deferred income taxes

      20,578         —          —          (20,578 )      —     

Intangible and other assets, net

      46,708         539,236        146,743        —          732,687   
  

 

 

     

 

 

    

 

 

    

 

 

    

 

 

  

Total assets

    $ 3,257,229       $ 2,831,999      $ 510,472      $ (2,741,378 )    $ 3,858,322   
  

 

 

     

 

 

    

 

 

    

 

 

    

 

 

  

Liabilities and Stockholders’ Equity

            

Current liabilities:

            

Accounts payable and accrued expenses

    $ 48,002       $ 232,257      $ 37,426      $ (20,825 )    $ 296,860   

Current portion of long-term debt

      9,121         1,595        2,278        —          12,994   
  

 

 

     

 

 

    

 

 

    

 

 

    

 

 

  

Total current liabilities

      57,123         233,852        39,704        (20,825 )      309,854   

Long-term debt

      1,431,761         2,027        3,961        —          1,437,749   

Deferred income taxes

      —           278,295        26,173        (20,578 )      283,890   

Other long-term liabilities

      9,088         48,500        9,984        —          67,572   

Stockholders’ equity

      1,759,257         2,269,325        430,650        (2,699,975 )      1,759,257   
  

 

 

     

 

 

    

 

 

    

 

 

    

 

 

  

Total liabilities and stockholders’ equity

    $ 3,257,229       $ 2,831,999      $ 510,472      $ (2,741,378 )    $ 3,858,322   
  

 

 

     

 

 

    

 

 

    

 

 

    

 

 

  
Condensed Supplemental Consolidating Statement of Income

Condensed Supplemental Consolidating Statement of Income

Year Ended December 31, 2015

(In thousands)

 

     Parent
Company		     Guarantor
Subsidiaries		     Non-Guarantor
Subsidiaries		     Eliminations     Consolidated  

Net sales

    $ —        $ 2,994,438      $ 467,687      $ (255,720 )    $ 3,206,405   

Cost of sales

      —          2,405,134        412,688        (255,720 )      2,562,102   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Gross profit

      —          589,304        54,999        —          644,303   

Selling, general, and administrative expense

      73,201        233,041        35,910        —          342,152   

Amortization

      8,097        42,332        10,169        —          60,598   

Other operating expense, net

      —          1,817        —          —          1,817   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Operating (loss) income

      (81,298 )      312,114        8,920        —          239,736   

Interest expense

      43,808        207        7,123        (5,664 )      45,474   

Interest income

      (1,450 )      (5,664 )      (1,517 )      5,664        (2,967 ) 

Other (income) expense, net

      (7 )      20,311        5,661        —          25,965   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

(Loss) income from continuing operations, before income taxes

      (123,649 )      297,260        (2,347 )      —          171,264   

Income taxes (benefit)

      (47,215 )      106,288        (2,719 )      —          56,354   

Equity in net income (loss) of subsidiaries

      191,344        372        —          (191,716 )      —     
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net income (loss)

    $ 114,910      $ 191,344      $ 372      $ (191,716 )    $ 114,910   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Condensed Supplemental Consolidating Statement of Income

Year Ended December 31, 2014

(In thousands)

 

     Parent
Company		     Guarantor
Subsidiaries		     Non-Guarantor
Subsidiaries		     Eliminations     Consolidated  

Net sales

    $ —        $ 2,596,451      $ 493,460      $ (143,809 )    $ 2,946,102   

Cost of sales

      —          2,061,598        421,709        (143,809 )      2,339,498   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Gross profit

      —          534,853        71,751        —          606,604   

Selling, general, and administrative expense

      68,632        221,106        43,657        —          333,395   

Amortization

      6,521        35,409        10,704        —          52,634   

Other operating expense, net

      —          2,365        56        —          2,421   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Operating (loss) income

      (75,153 )      275,973        17,334        —          218,154   

Interest expense

      41,316        520        4,071        (3,871 )      42,036   

Interest income

      (2 )      (3,900 )      (959 )      3,871        (990 ) 

Loss on extinguishment of debt

      22,019        —          —          —          22,019   

Other expense, net

      22        10,329        8,168        —          18,519   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

(Loss) income from continuing operations, before income taxes

      (138,508 )      269,024        6,054        —          136,570   

Income taxes (benefit)

      (51,761 )      99,896        (1,445 )      —          46,690   

Equity in net income (loss) of subsidiaries

      176,627        7,499        —          (184,126 )      —     
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net income (loss)

    $ 89,880      $ 176,627      $ 7,499      $ (184,126 )    $ 89,880   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

 

Condensed Supplemental Consolidating Statement of Income

Year Ended December 31, 2013

(In thousands)

 

     Parent
Company		     Guarantor
Subsidiaries		     Non-Guarantor
Subsidiaries		     Eliminations     Consolidated  

Net sales

    $ —        $ 2,069,073      $ 320,313      $ (95,459 )    $ 2,293,927   

Cost of sales

      —          1,644,614        269,223        (95,459 )      1,818,378   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Gross profit

      —          424,459        51,090        —          475,549   

Selling, general, and administrative expense

      52,951        173,073        30,039        —          256,063   

Amortization

      5,445        24,351        5,579        —          35,375   

Other operating expense, net

      —          3,741        2,206        —          5,947   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Operating (loss) income

      (58,396 )      223,294        13,266        —          178,164   

Interest expense

      48,358        967        60        (81 )      49,304   

Interest income

      —          (12 )      (2,254 )      81        (2,185 ) 

Other (income) expense, net

      (3 )      (22,007 )      28,145        —          6,135   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

(Loss) income from continuing operations, before income taxes

      (106,751 )      244,346        (12,685 )      —          124,910   

Income taxes (benefit)

      (42,438 )      78,460        1,900        —          37,922   

Equity in net income (loss) of subsidiaries

      151,301        (14,585 )      —          (136,716 )      —     
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net income (loss)

    $ 86,988      $ 151,301      $ (14,585 )    $ (136,716 )    $ 86,988   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  
Condensed Supplemental Consolidating Statement of Comprehensive Income

Condensed Supplemental Consolidating Statement of Comprehensive Income

Year Ended December 31, 2015

(In thousands)

 

     Parent
Company		     Guarantor
Subsidiaries		     Non-Guarantor
Subsidiaries		     Eliminations     Consolidated  

Net income

    $ 114,910      $ 191,344      $ 372      $ (191,716 )    $ 114,910   

Other comprehensive income (loss):

           

Foreign currency translation adjustments

      —          —          (49,186 )      —          (49,186 ) 

Pension and postretirement reclassification adjustment, net of tax

      —          49        —          —          49   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Other comprehensive income (loss)

      —          49        (49,186 )      —          (49,137 ) 

Equity in other comprehensive (loss) income of subsidiaries

      (49,137 )      (49,186 )      —          98,323        —     
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Comprehensive income (loss)

    $ 65,773      $ 142,207      $ (48,814 )    $ (93,393 )    $ 65,773   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

 

Condensed Supplemental Consolidating Statement of Comprehensive Income

Year Ended December 31, 2014

(In thousands)

 

     Parent
Company		     Guarantor
Subsidiaries		     Non-Guarantor
Subsidiaries		     Eliminations     Consolidated  

Net income

    $ 89,880      $ 176,627      $ 7,499      $ (184,126 )    $ 89,880   

Other comprehensive (loss):

           

Foreign currency translation adjustments

      —          —          (26,637 )      —          (26,637 ) 

Pension and postretirement reclassification adjustment, net of tax

      —          (5,931 )      —          —          (5,931 ) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Other comprehensive (loss)

      —          (5,931 )      (26,637 )      —          (32,568 ) 

Equity in other comprehensive (loss) income of subsidiaries

      (32,568 )      (26,637 )      —          59,205        —     
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Comprehensive income (loss)

    $ 57,312      $ 144,059      $ (19,138 )    $ (124,921 )    $ 57,312   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Condensed Supplemental Consolidating Statement of Comprehensive Income

Year Ended December 31, 2013

(In thousands)

 

     Parent
Company		     Guarantor
Subsidiaries		     Non-Guarantor
Subsidiaries		     Eliminations     Consolidated  

Net income (loss)

    $ 86,988      $ 151,301      $ (14,585 )    $ (136,716 )    $ 86,988   

Other comprehensive income (loss):

           

Foreign currency translation adjustments

      —          —          (22,682 )      —          (22,682 ) 

Pension and postretirement reclassification adjustment, net of tax

      —          7,451        —          —          7,451   

Derivative reclassification adjustment, net of tax

      108        —          —          —          108   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Other comprehensive income (loss)

      108        7,451        (22,682 )      —          (15,123 ) 

Equity in other comprehensive (loss) income of subsidiaries

      (15,231 )      (22,682 )      —          37,913        —     
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Comprehensive income (loss)

    $ 71,865      $ 136,070      $ (37,267 )    $ (98,803 )    $ 71,865   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  
Condensed Supplemental Consolidating Statement of Cash Flows

Condensed Supplemental Consolidating Statement of Cash Flows

Fiscal Year Ended December 31, 2015

(In thousands)

 

     Parent
Company		     Guarantor
Subsidiaries		     Non-Guarantor
Subsidiaries		     Eliminations     Consolidated  

Net cash provided by (used in) operating activities

    $ 99,954      $ 356,395      $ 19,669      $ (190,700 )    $ 285,318   

Cash flows from investing activities:

           

Additions to property, plant, and equipment

      (874 )      (61,079 )      (10,781 )      —          (72,734 ) 

Additions to intangible assets

      (11,830 )      (1,406 )      (126 )      —          (13,362 ) 

Intercompany transfer

      (11,421 )      (114,063 )      142        125,342        —     

Purchase of investments

      —          —          (831 )      —          (831 ) 

Proceeds from sale of fixed assets

      —          465        141        —          606   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net cash (used in) provided by investing activities

      (24,125 )      (176,083 )      (11,455 )      125,342        (86,321 ) 

Cash flows from financing activities:

           

Net borrowing (repayment) of debt

      (211,742 )      (1,510 )      (2,252 )      —          (215,504 ) 

Intercompany transfer

      120,643        (180,357 )      (5,644 )      65,358        —     

Net receipts related to stock-based award activities

      1,834        —          —          —          1,834   

Excess tax benefits from stock-based payment arrangements

      5,329        —          —          —          5,329   

Other

      (215 )      —          —          —          (215 ) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net cash (used in) provided by financing activities

      (84,151 )      (181,867 )      (7,896 )      65,358        (208,556 ) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Effect of exchange rate changes on cash and cash equivalents

      —          —          (7,503 )      —          (7,503 ) 

Decrease in cash and cash equivalents

      (8,322 )      (1,555 )      (7,185 )      —          (17,062 ) 

Cash and cash equivalents, beginning of year

      18,706        1,592        31,683        —          51,981   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Cash and cash equivalents, end of year

    $ 10,384      $ 37      $ 24,498      $ —        $ 34,919   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

 

Condensed Supplemental Consolidating Statement of Cash Flows

Fiscal Year Ended December 31, 2014

(In thousands)

 

     Parent
Company		     Guarantor
Subsidiaries		     Non-Guarantor
Subsidiaries		     Eliminations     Consolidated  

Net cash provided by (used in) operating activities

    $ 149,103      $ 216,848      $ 29,144      $ (183,138 )    $ 211,957   

Cash flows from investing activities:

           

Additions to property, plant, and equipment

      (16,201 )      (63,843 )      (8,531 )      —          (88,575 ) 

Additions to intangible assets

      (9,012 )      (2,516 )      885        —          (10,643 ) 

Intercompany transfer

      (1,055,537 )      919,876        (47,477 )      183,138        —     

Acquisitions, net of cash acquired

      —          (1,034,894 )      41,885        —          (993,009 ) 

Purchase of investments

      —          —          (584 )      —          (584 ) 

Proceeds from sale of investments

      —          —          63        —          63   

Proceeds from sale of fixed assets

      —          2,457        385        —          2,842   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net cash (used in) provided by investing activities

      (1,080,750 )      (178,920 )      (13,374 )      183,138        (1,089,906 ) 

Cash flows from financing activities:

           

Net borrowing (repayment) of debt

      484,595        (1,504 )      (1,691 )      —          481,400   

Intercompany transfer

      38,577        (38,577 )      —          —          —     

Net proceeds from issuance of stock

      358,364        —          —          —          358,364   

Net receipts related to stock-based award activities

      27,812        20        —          —          27,832   

Excess tax benefits from stock-based payment arrangements

      17,737        (144 )      —          —          17,593   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net cash provided by (used in) financing activities

      927,085        (40,205 )      (1,691 )      —          885,189   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Effect of exchange rate changes on cash and cash equivalents

      —          —          (1,734 )      —          (1,734 ) 

(Decrease) increase in cash and cash equivalents

      (4,562 )      (2,277 )      12,345        —          5,506   

Cash and cash equivalents, beginning of year

      23,268        3,869        19,338        —          46,475   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Cash and cash equivalents, end of year

    $ 18,706      $ 1,592      $ 31,683      $ —        $ 51,981   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

 

Condensed Supplemental Consolidating Statement of Cash Flows

Fiscal Year Ended December 31, 2013

(In thousands)

 

     Parent
Company		     Guarantor
Subsidiaries		     Non-Guarantor
Subsidiaries		     Eliminations      Consolidated  

Net cash (used in) provided by operating activities

    $ (45,540 )    $ 225,857      $ 36,373      $ —         $ 216,690   

Cash flows from investing activities:

            

Additions to property, plant, and equipment

      (48 )      (68,530 )      (6,202 )      —           (74,780 ) 

Additions to intangible assets

      (4,923 )      (1,480 )      —          —           (6,403 ) 

Acquisitions, net of cash acquired

      —          (125,158 )      (93,494 )      —           (218,652 ) 

Purchase of investments

      —          —          (8,140 )      —           (8,140 ) 

Proceeds from sale of investments

      —          —          165        —           165   

Proceeds from sale of fixed assets

      —          966        (6 )      —           960   
  

 

 

    

 

 

    

 

 

    

 

 

     

 

 

  

Net cash used in investing activities

      (4,971 )      (194,202 )      (107,677 )      —           (306,850 ) 

Cash flows from financing activities:

            

Net borrowing (repayment) of debt

      42,000        (1,939 )      (6 )      —           40,055   

Intercompany transfer

      26,116        (26,116 )      —          —           —     

Net receipts related to stock-based award activities

      1,291        —          —          —           1,291   

Excess tax benefits from stock-based payment arrangements

      4,372        —          —          —           4,372   
  

 

 

    

 

 

    

 

 

    

 

 

     

 

 

  

Net cash provided by (used in) financing activities

      73,779        (28,055 )      (6 )      —           45,718   
  

 

 

    

 

 

    

 

 

    

 

 

     

 

 

  

Effect of exchange rate changes on cash and cash equivalents

      —          —          (3,490 )      —           (3,490 ) 

Increase (decrease) in cash and cash equivalents

      23,268        3,600        (74,800 )      —           (47,932 ) 

Cash and cash equivalents, beginning of year

      —          269        94,138        —           94,407   
  

 

 

    

 

 

    

 

 

    

 

 

     

 

 

  

Cash and cash equivalents, end of year

    $ 23,268      $ 3,869      $ 19,338      $ —         $ 46,475   
  

 

 

    

 

 

    

 

 

    

 

 

     

 

 

  
v3.3.1.900
Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Summary Of Significant Accounting Policies [Line Items]      
Cash $ 24.4 $ 31.6  
Credit terms to customers, minimum 10 days    
Credit terms to customers, maximum 30 days    
Shipping and handling costs $ 87.2 80.0 $ 55.3
Research and development charges $ 14.3 $ 12.8 $ 17.5
v3.3.1.900
Estimated Useful Lives of Assets (Detail)
 12 Months Ended
Dec. 31, 2015
Minimum | Buildings and improvements  
Property, Plant and Equipment [Line Items]  
Useful Life 12 years
Minimum | Machinery and equipment  
Property, Plant and Equipment [Line Items]  
Useful Life 3 years
Minimum | Office furniture and equipment  
Property, Plant and Equipment [Line Items]  
Useful Life 3 years
Maximum | Buildings and improvements  
Property, Plant and Equipment [Line Items]  
Useful Life 40 years
Maximum | Machinery and equipment  
Property, Plant and Equipment [Line Items]  
Useful Life 15 years
Maximum | Office furniture and equipment  
Property, Plant and Equipment [Line Items]  
Useful Life 12 years
v3.3.1.900
Estimated Useful Lives of Intangible Assets (Detail)
 12 Months Ended
Dec. 31, 2015
Customer relationships  
Finite-Lived Intangible Assets [Line Items]  
Useful Life Straight-line method over 5 to 20 years
Trademarks  
Finite-Lived Intangible Assets [Line Items]  
Useful Life Straight-line method over 10 to 20 years
Non-compete agreement  
Finite-Lived Intangible Assets [Line Items]  
Useful Life Straight-line method over the terms of the agreements
Deferred financing costs associated with Line-of-Credit Arrangements  
Finite-Lived Intangible Assets [Line Items]  
Useful Life Straight-line method over the terms of the arrangements
Formulas/recipes  
Finite-Lived Intangible Assets [Line Items]  
Useful Life Straight-line method over 5 to 7 years
Computer software  
Finite-Lived Intangible Assets [Line Items]  
Useful Life Straight-line method over 2 to 7 years
Minimum | Customer relationships  
Finite-Lived Intangible Assets [Line Items]  
Useful Life 5 years
Minimum | Trademarks  
Finite-Lived Intangible Assets [Line Items]  
Useful Life 10 years
Minimum | Formulas/recipes  
Finite-Lived Intangible Assets [Line Items]  
Useful Life 5 years
Minimum | Computer software  
Finite-Lived Intangible Assets [Line Items]  
Useful Life 2 years
Maximum | Customer relationships  
Finite-Lived Intangible Assets [Line Items]  
Useful Life 20 years
Maximum | Trademarks  
Finite-Lived Intangible Assets [Line Items]  
Useful Life 20 years
Maximum | Formulas/recipes  
Finite-Lived Intangible Assets [Line Items]  
Useful Life 7 years
Maximum | Computer software  
Finite-Lived Intangible Assets [Line Items]  
Useful Life 7 years
v3.3.1.900
Restructuring - Additional Information (Detail) - USD ($)
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Employee Severance    
Restructuring Cost and Reserve [Line Items]    
Accrued restructuring costs $ 400,000  
Withdrawal Liability    
Restructuring Cost and Reserve [Line Items]    
Accrued restructuring costs 800,000  
Soup restructuring    
Restructuring Cost and Reserve [Line Items]    
Plant closure incurred costs 600,000 $ 1,500,000
Salad dressing plant in Seaforth, Ontario, Canada    
Restructuring Cost and Reserve [Line Items]    
Plant closure incurred costs 0 $ 900,000
City of Industry California    
Restructuring Cost and Reserve [Line Items]    
Plant closure expected costs 10,869,000  
City of Industry California | Expected payment in cash    
Restructuring Cost and Reserve [Line Items]    
Plant closure expected costs $ 7,200,000  
v3.3.1.900
Aggregate Expenses Incurred Associated with Facility Closure (Detail) - City of Industry California
$ in Thousands
 12 Months Ended
Dec. 31, 2015
USD ($)
Restructuring Cost and Reserve [Line Items]  
Other closure costs $ 29
Restructuring charges 4,211
Cumulative costs to date 4,211
Total expected costs 10,869
Asset Related Costs  
Restructuring Cost and Reserve [Line Items]  
Restructuring charges 3,020
Cumulative costs to date 3,020
Total expected costs 3,716
Employee Related Costs  
Restructuring Cost and Reserve [Line Items]  
Restructuring charges 1,162
Cumulative costs to date 1,162
Total expected costs 1,964
Other Restructuring  
Restructuring Cost and Reserve [Line Items]  
Cumulative costs to date 29
Total expected costs $ 5,189
v3.3.1.900
Acquisitions - Additional Information (Detail) - USD ($)
 5 Months Ended 12 Months Ended
Jul. 29, 2014
May. 30, 2014
Dec. 31, 2014
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Business Acquisition [Line Items]            
Business acquisition, cost of acquired entity, purchase price, net of cash         $ 993,009,000 $ 218,652,000
Goodwill     $ 1,667,985,000 $ 1,649,794,000 1,667,985,000 1,119,204,000
Goodwill, tax deductible       333,300,000    
North American Retail Grocery            
Business Acquisition [Line Items]            
Goodwill     1,439,476,000 1,423,441,000 1,439,476,000 $ 884,768,000
Flagstone            
Business Acquisition [Line Items]            
Business acquisition, cost of acquired entity, purchase price, net of cash $ 854,200,000          
Net sales     287,300,000      
Net income     3,800,000      
Integration costs     $ 10,300,000      
Goodwill 511,274,000          
Goodwill, tax deductible 0          
Business acquisition related costs       0 8,900,000  
Adjustments to fair values of assets acquired and liabilities assumed with corresponding adjustments to goodwill       5,700,000    
Flagstone | North American Retail Grocery            
Business Acquisition [Line Items]            
Goodwill 511,300,000          
Flagstone | Customer relationships            
Business Acquisition [Line Items]            
Intangible asset $ 231,700,000          
Finite-lived intangible assets, useful life 15 years          
Flagstone | Trade names            
Business Acquisition [Line Items]            
Intangible asset $ 6,300,000          
Finite-lived intangible assets, useful life 15 years          
Flagstone | Formulas/recipes            
Business Acquisition [Line Items]            
Intangible asset $ 1,600,000          
Finite-lived intangible assets, useful life 5 years          
Flagstone | Software            
Business Acquisition [Line Items]            
Intangible asset $ 1,755,000          
Finite-lived intangible assets, useful life 1 year          
Flagstone | Supplier relationships            
Business Acquisition [Line Items]            
Intangible asset $ 2,500,000          
Finite-lived intangible assets, useful life 1 year          
Protenergy            
Business Acquisition [Line Items]            
Business acquisition, cost of acquired entity, purchase price, net of cash   $ 140,100,000        
Net sales         116,400,000  
Net income         2,800,000  
Integration costs         6,100,000  
Goodwill   50,728,000        
Goodwill, tax deductible   0        
Business acquisition related costs       0 $ 3,300,000  
Adjustments to fair values of assets acquired and liabilities assumed with corresponding adjustments to goodwill       $ 200,000    
Protenergy | North American Retail Grocery            
Business Acquisition [Line Items]            
Goodwill   50,700,000        
Protenergy | Customer relationships            
Business Acquisition [Line Items]            
Intangible asset   $ 49,516,000        
Finite-lived intangible assets, useful life   15 years        
Protenergy | Formulas/recipes            
Business Acquisition [Line Items]            
Intangible asset   $ 433,000        
Finite-lived intangible assets, useful life   5 years        
Unfavorable Contracts   $ 7,643,000        
Unfavorable Contracts, Amortization Period   2 years 7 months 6 days        
Protenergy | Software            
Business Acquisition [Line Items]            
Intangible asset   $ 1,483,000        
v3.3.1.900
Purchase Price Allocation to Net Tangible and Intangible Assets Acquired and Liabilities Assumed (Detail) - USD ($)
$ in Thousands
Dec. 31, 2015
Dec. 31, 2014
Jul. 29, 2014
May. 30, 2014
Dec. 31, 2013
Business Acquisition [Line Items]          
Goodwill $ 1,649,794 $ 1,667,985     $ 1,119,204
Flagstone          
Business Acquisition [Line Items]          
Cash     $ 902    
Receivables     55,640    
Inventory     128,224    
Property, plant, and equipment     37,154    
Other assets     35,081    
Goodwill     511,274    
Fair value of assets acquired     1,012,130    
Deferred taxes     (81,602)    
Assumed liabilities     (75,397)    
Total purchase price     855,131    
Flagstone | Customer relationships          
Business Acquisition [Line Items]          
Intangible asset     231,700    
Flagstone | Trade names          
Business Acquisition [Line Items]          
Intangible asset     6,300    
Flagstone | Supplier relationships          
Business Acquisition [Line Items]          
Intangible asset     2,500    
Flagstone | Software          
Business Acquisition [Line Items]          
Intangible asset     1,755    
Flagstone | Formulas/recipes          
Business Acquisition [Line Items]          
Intangible asset     $ 1,600    
Protenergy          
Business Acquisition [Line Items]          
Cash       $ 2,580  
Receivables       10,949  
Inventory       38,283  
Property, plant, and equipment       36,355  
Other assets       2,425  
Goodwill       50,728  
Fair value of assets acquired       192,752  
Assumed liabilities       (42,412)  
Total purchase price       142,697  
Protenergy | Customer relationships          
Business Acquisition [Line Items]          
Intangible asset       49,516  
Protenergy | Software          
Business Acquisition [Line Items]          
Intangible asset       1,483  
Protenergy | Formulas/recipes          
Business Acquisition [Line Items]          
Intangible asset       433  
Unfavorable contractual agreements       $ (7,643)  
v3.3.1.900
Business Acquisition Pro Forma Information (Detail)
$ / shares in Units, $ in Thousands
 12 Months Ended
Dec. 31, 2014
USD ($)
$ / shares
Flagstone  
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]  
Pro forma net sales | $ $ 3,332,108
Pro forma net income | $ $ 82,812
Pro forma basic earnings per common share | $ / shares $ 1.97
Pro forma diluted earnings per common share | $ / shares $ 1.93
Protenergy  
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]  
Pro forma net sales | $ $ 3,006,860
Pro forma net income | $ $ 82,320
Pro forma basic earnings per common share | $ / shares $ 2.09
Pro forma diluted earnings per common share | $ / shares $ 2.05
v3.3.1.900
Investments (Detail) - USD ($)
$ in Thousands
Dec. 31, 2015
Dec. 31, 2014
Investment [Line Items]    
Total investments $ 8,388 $ 9,148
Equity | United States    
Investment [Line Items]    
Total investments 5,283 5,749
Equity | Non-U.S.    
Investment [Line Items]    
Total investments 1,574 1,692
Fixed Income    
Investment [Line Items]    
Total investments $ 1,531 $ 1,707
v3.3.1.900
Investments - Additional Information (Detail) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2012
Investment [Line Items]        
Cash and cash equivalents $ 34,919 $ 51,981 $ 46,475 $ 94,407
Net unrealized investment gain (losses) (11) 724 $ 1,240  
Realized gain on investments 200      
Interest expense        
Investment [Line Items]        
Net unrealized investment gain (losses) (1,300)      
Interest income        
Investment [Line Items]        
Net unrealized investment gain (losses) 1,300      
Canada        
Investment [Line Items]        
Cash and cash equivalents $ 24,400 $ 31,600    
v3.3.1.900
Inventories (Detail) - USD ($)
$ in Thousands
Dec. 31, 2015
Dec. 31, 2014
Inventory [Line Items]    
Raw materials and supplies $ 274,007 $ 279,745
Finished goods 331,535 334,856
LIFO reserve (21,427) (20,503)
Total inventories $ 584,115 $ 594,098
v3.3.1.900
Inventories - Additional Information (Detail) - USD ($)
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Inventory [Line Items]    
LIFO inventory $ 88,100,000 $ 87,400,000
LIFO inventory liquidation 0 0
Net inventory accounted for under the weighted average cost method $ 128,900,000 $ 117,300,000
v3.3.1.900
Property, Plant, and Equipment (Detail) - USD ($)
$ in Thousands
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Property, Plant and Equipment [Line Items]      
Land $ 25,954 $ 27,097  
Buildings and improvements 226,134 209,117  
Machinery and equipment 681,711 644,333  
Construction in progress 24,493 35,010  
Total 958,292 915,557  
Less accumulated depreciation (416,764) (371,779)  
Property, plant, and equipment, net $ 541,528 $ 543,778 $ 462,275
v3.3.1.900
Property, Plant, and Equipment - Additional Information (Detail) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Property, Plant and Equipment [Line Items]      
Depreciation expense $ 61,469 $ 63,281 $ 73,267
v3.3.1.900
Changes in Carrying Amount of Goodwill (Detail) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Goodwill [Line Items]    
Beginning Balance $ 1,667,985 $ 1,119,204
Acquisitions   556,599
Purchase price adjustments 5,556 5,814
Foreign currency exchange adjustments (23,747) (13,632)
Ending Balance 1,649,794 1,667,985
North American Retail Grocery    
Goodwill [Line Items]    
Beginning Balance 1,439,476 884,768
Acquisitions   556,599
Purchase price adjustments 5,556 5,991
Reallocation of goodwill   4,461
Foreign currency exchange adjustments (21,591) (12,343)
Ending Balance 1,423,441 1,439,476
Food Away From Home    
Goodwill [Line Items]    
Beginning Balance 94,423 95,572
Purchase price adjustments   (61)
Reallocation of goodwill   96
Foreign currency exchange adjustments (2,156) (1,184)
Ending Balance 92,267 94,423
Industrial and Export    
Goodwill [Line Items]    
Beginning Balance 134,086 138,864
Purchase price adjustments   (116)
Reallocation of goodwill   (4,557)
Foreign currency exchange adjustments   (105)
Ending Balance $ 134,086 $ 134,086
v3.3.1.900
Goodwill and Intangible Assets - Additional Information (Detail) - USD ($)
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Goodwill and Intangible Assets Disclosure [Abstract]      
Goodwill impairment loss $ 0    
Goodwill deductible for tax purposes 333,300,000    
Amortization expense on intangible assets 60,598,000 $ 52,634,000 $ 35,375,000
Total intangible assets, excluding goodwill $ 646,655,000 $ 716,298,000  
v3.3.1.900
Carrying Amounts of Intangible Assets with Indefinite Lives Other Than Goodwill (Detail) - USD ($)
$ in Thousands
Dec. 31, 2015
Dec. 31, 2014
Indefinite-lived Intangible Assets [Line Items]    
Indefinite lived intangibles $ 25,229 $ 28,995
Trademarks    
Indefinite-lived Intangible Assets [Line Items]    
Indefinite lived intangibles $ 25,229 $ 28,995
v3.3.1.900
Gross Carrying Amounts and Accumulated Amortization of Intangible Assets, with Finite Lives (Detail) - USD ($)
$ in Thousands
Dec. 31, 2015
Dec. 31, 2014
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Amount $ 893,133 $ 905,673
Accumulated Amortization (271,707) (218,370)
Net Carrying Amount 621,426 687,303
Customer-related Intangible Assets    
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Amount [1] 769,419 794,300
Accumulated Amortization [1] (208,962) (168,462)
Net Carrying Amount [1] 560,457 625,838
Contractual agreements    
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Amount [2] 2,964 2,829
Accumulated Amortization [2] (2,831) (2,396)
Net Carrying Amount [2] 133 433
Trademarks    
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Amount [3] 32,240 32,579
Accumulated Amortization [3] (11,091) (9,041)
Net Carrying Amount [3] 21,149 23,538
Formulas/recipes    
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Amount [4] 10,471 10,763
Accumulated Amortization [4] (7,824) (7,138)
Net Carrying Amount [4] 2,647 3,625
Computer software    
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Amount [5] 78,039 65,202
Accumulated Amortization [5] (40,999) (31,333)
Net Carrying Amount [5] $ 37,040 $ 33,869
[1] customer-related at 13.0 years,
[2] contractual agreements at 2.3 years,
[3] trademarks at 10.9 years,
[4] formulas/recipes at 3.8 years,
[5] computer software at 4.4 years.
v3.3.1.900
Goodwill and Intangible Assets - Additional Information (Parenthetical) (Detail) - Weighted Average
 12 Months Ended
Dec. 31, 2015
Finite-Lived Intangible Assets [Line Items]  
Finite-lived intangible assets, useful life 12 years 6 months
Customer-related Intangible Assets  
Finite-Lived Intangible Assets [Line Items]  
Finite-lived intangible assets, useful life 13 years
Contractual agreements  
Finite-Lived Intangible Assets [Line Items]  
Finite-lived intangible assets, useful life 2 years 3 months 18 days
Trademarks  
Finite-Lived Intangible Assets [Line Items]  
Finite-lived intangible assets, useful life 10 years 10 months 24 days
Formulas/recipes  
Finite-Lived Intangible Assets [Line Items]  
Finite-lived intangible assets, useful life 3 years 9 months 18 days
Computer software  
Finite-Lived Intangible Assets [Line Items]  
Finite-lived intangible assets, useful life 4 years 4 months 24 days
v3.3.1.900
Estimated Amortization Expense on Intangible Assets (Detail)
$ in Thousands
Dec. 31, 2015
USD ($)
Finite-Lived Intangible Assets [Line Items]  
2016 $ 59,120
2017 58,200
2018 52,555
2019 51,117
2020 $ 49,677
v3.3.1.900
Accounts Payable and Accrued Expenses (Detail) - USD ($)
$ in Thousands
Dec. 31, 2015
Dec. 31, 2014
Accounts Payable and Accrued Liabilities [Line Items]    
Accounts payable $ 202,065 $ 217,226
Payroll and benefits 27,467 38,669
Interest 6,241 6,507
Taxes 1,499 5,947
Health insurance, workers' compensation, and other insurance costs 9,331 8,602
Marketing expenses 7,435 12,479
Other accrued liabilities 6,542 7,430
Total $ 260,580 $ 296,860
v3.3.1.900
Components of Income Before Income Taxes (Detail) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2015
Sep. 30, 2015
 [1]
Jun. 30, 2015
 [2]
Mar. 31, 2015
Dec. 31, 2014
Sep. 30, 2014
 [1]
Jun. 30, 2014
 [2]
Mar. 31, 2014
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Schedule of Components of Income Before Income Tax Expense (Benefit) [Line Items]                      
Domestic source                 $ 179,445 $ 147,452 $ 128,685
Foreign source                 (8,181) (10,882) (3,775)
Income before income taxes $ 57,401 $ 40,275 $ 47,787 $ 25,801 $ 51,992 $ 30,795 $ 33,740 $ 20,043 $ 171,264 $ 136,570 $ 124,910
[1] The Company acquired Flagstone in July of 2014.
[2] The Company acquired Protenergy in May of 2014.
v3.3.1.900
Components of Provision for Income Taxes (Detail) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Current:      
Federal $ 57,237 $ 34,447 $ 41,161
State 9,276 5,771 8,185
Foreign (4,153) (1,629) 470
Total current 62,360 38,589 49,816
Deferred:      
Federal (5,721) 8,176 (8,236)
State (2,002) 605 (3,404)
Foreign 1,717 (680) (254)
Total deferred (6,006) 8,101 (11,894)
Total income tax expense $ 56,354 $ 46,690 $ 37,922
v3.3.1.900
Reconciliation of Income Tax Expense Computed at U.S. Federal Statutory Tax Rate to Income Tax Expense (Detail) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Reconciliation of Provision of Income Taxes [Line Items]      
Tax at statutory rate $ 59,942 $ 47,800 $ 43,719
State income taxes 4,728 4,145 3,108
Tax benefit of cross-border intercompany financing structure (3,962) (4,579) (4,909)
Domestic production activities deduction (5,423) (4,173) (3,880)
Other, net 1,069 3,497 (116)
Total income tax expense $ 56,354 $ 46,690 $ 37,922
v3.3.1.900
Tax Effects of Temporary Differences Giving Rise to Deferred Income Tax Assets and Liabilities (Detail) - USD ($)
$ in Thousands
Dec. 31, 2015
Dec. 31, 2014
Deferred tax assets:    
Pension and postretirement benefits $ 7,373 $ 8,569
Accrued liabilities 13,639 16,277
Stock compensation 16,644 15,516
Unrealized foreign exchange loss 7,449 3,966
Loss and credit carryovers 5,584 14,732
Other 16,279 12,269
Total deferred tax assets 66,968 71,329
Deferred tax liabilities:    
Fixed assets and intangible assets (346,076) (355,219)
Total deferred tax liabilities (346,076) (355,219)
Net deferred income tax liability $ (279,108) $ (283,890)
v3.3.1.900
Income Taxes - Additional Information (Detail) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Income Taxes [Line Items]      
Increase (decrease) in non-current liabilities   $ (35.6)  
Decrease in total amount of unrecognized tax benefits within the next 12 months $ (1.5)    
Unrecognized tax benefits that would impact the effective tax rate, if reversed 7.1 5.2  
Deferred tax asset carryforward 3.9    
Benefit in loss carryforwards $ 13.0    
Operating loss carryforwards expiration period 20 years    
Unrecognized tax benefits, recognized interest and penalties in income tax expense (benefit) $ 0.1 (0.1) $ (0.2)
Unrecognized tax benefits, accrued payment of interest and penalties 0.6 0.3  
Undistributed earnings, foreign subsidiaries 98.8    
Amount of unrecognized U.S. federal income tax liabilities 33.8    
Tax benefit related to foreign earnings $ 4.0 $ 4.6  
Minimum      
Income Taxes [Line Items]      
Net operating loss carryforwards expiration year 2032    
Maximum      
Income Taxes [Line Items]      
Net operating loss carryforwards expiration year 2034    
v3.3.1.900
Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits (Detail) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Income Tax Contingency [Line Items]      
Unrecognized tax benefits beginning balance $ 13,211 $ 12,499 $ 9,528
Additions based on tax positions related to the current year 55 476 8,834
Additions based on tax positions of prior years 1,549 83 1,001
Additions resulting from acquisitions 6,391 11,366  
Reductions for tax positions of prior years (1,384) (11,163) (6,350)
Payments   (50) (514)
Foreign currency translation (280)    
Unrecognized tax benefits ending balance $ 19,542 $ 13,211 $ 12,499
v3.3.1.900
Long-Term Debt (Detail) - USD ($)
$ in Thousands
Dec. 31, 2015
Dec. 31, 2014
Debt Instrument [Line Items]    
Tax increment financing and other debt $ 6,002 $ 9,861
Total outstanding debt 1,244,502 1,459,861
Deferred financing costs (7,868) (9,118)
Less current portion (14,893) (12,994)
Total long-term debt 1,221,741 1,437,749
Revolving Credit Facility    
Debt Instrument [Line Items]    
Revolving credit facility 353,000 554,000
Term Loan A    
Debt Instrument [Line Items]    
Term Loan 295,500 298,500
Term Loan A-1    
Debt Instrument [Line Items]    
Term Loan 190,000 197,500
2022 Notes    
Debt Instrument [Line Items]    
Senior notes $ 400,000 $ 400,000
v3.3.1.900
Scheduled Maturities of Outstanding Debt, Excluding Deferred Financing Costs (Detail) - USD ($)
$ in Thousands
Dec. 31, 2015
Dec. 31, 2014
Debt Instrument [Line Items]    
2016 $ 16,272  
2017 14,649  
2018 16,085  
2019 513,884  
2020 3,062  
Thereafter 680,550  
Total outstanding debt $ 1,244,502 $ 1,459,861
v3.3.1.900
Long-Term Debt - Additional Information (Detail) - USD ($)
 12 Months Ended
Jul. 29, 2014
May. 06, 2014
Dec. 31, 2015
Debt Instrument [Line Items]      
Average interest rate on debt outstanding     1.91%
Prior Credit Agreement      
Debt Instrument [Line Items]      
Revolving credit facility - maximum borrowing capacity   $ 750,000,000  
Discussion on use of funds   The proceeds from Term Loan A and a draw at closing on the Revolving Credit Facility were used to repay in full, amounts outstanding under our prior $750 million revolving credit facility (the "Prior Credit Agreement").  
Term Loan A-1      
Debt Instrument [Line Items]      
Discussion on use of funds The Company entered into an amendment to its Credit Agreement (the "Amendment"), which among things, provided for a new $200 million term loan ("Term Loan A-1"). Term Loan A-1 (formerly known as the "Acquisition Term Loan") was used to fund, in part, the acquisition of Flagstone.    
Term Loan A-1 | Flagstone      
Debt Instrument [Line Items]      
Term loan - issuance amount $ 200,000,000    
Revolving Credit Facility      
Debt Instrument [Line Items]      
Revolving credit facility - maximum borrowing capacity   $ 900,000,000  
Revolving credit facility, term   5 years  
Financing cost capitalized   $ 6,500,000  
Term Loan A      
Debt Instrument [Line Items]      
Term loan - issuance amount   300,000,000  
Financing cost capitalized   $ 2,400,000  
v3.3.1.900
Long-Term Debt - Additional Information - Revolving Credit Facility (Detail) - USD ($)
 12 Months Ended
May. 06, 2014
Dec. 31, 2015
Direct And Indirect Guarantor Subsidiaries    
Debt Instrument [Line Items]    
Ownership percentage of direct and indirect guarantor subsidiary   100.00%
Revolving Credit Facility    
Debt Instrument [Line Items]    
Revolving credit facility available   $ 534,200,000
Revolving credit facility - maximum borrowing capacity $ 900,000,000  
Revolving credit facility maturity date May 06, 2019  
Letters of credit facility issued but undrawn   $ 12,800,000
Revolving credit availability reduced by undrawn letters of credit   There were $12.8 million in letters of credit under the Revolving Credit Facility that were issued but undrawn, which have been included as a reduction to the calculation of available credit.
Minimum payment default amount that triggers a Cross default provision $ 50,000,000  
Revolving Credit Facility | London Interbank Offered Rate (LIBOR)    
Debt Instrument [Line Items]    
Description of interest rate options The interest rates under the Credit Agreement are based on the Company's consolidated leverage ratio  
Revolving Credit Facility | London Interbank Offered Rate (LIBOR) | Minimum    
Debt Instrument [Line Items]    
Debt instrument, basis spread on variable rate 1.25%  
Revolving Credit Facility | London Interbank Offered Rate (LIBOR) | Maximum    
Debt Instrument [Line Items]    
Debt instrument, basis spread on variable rate 2.00%  
Revolving Credit Facility | Base Rate Margin    
Debt Instrument [Line Items]    
Description of interest rate options The interest rates under the Credit Agreement are based on the Company's consolidated leverage ratio  
Revolving Credit Facility | Base Rate Margin | Minimum    
Debt Instrument [Line Items]    
Debt instrument, basis spread on variable rate 0.25%  
Revolving Credit Facility | Base Rate Margin | Maximum    
Debt Instrument [Line Items]    
Debt instrument, basis spread on variable rate 1.00%  
v3.3.1.900
Long-Term Debt - Additional Information - Term Loan (Detail) - Term Loan A - USD ($)
$ in Thousands
May. 06, 2014
Dec. 31, 2015
Dec. 31, 2014
Debt Instrument [Line Items]      
Term loan maturity date May 06, 2021    
Term loan - issuance amount $ 300,000    
Frequency of payments Quarterly    
Term Loans   $ 295,500 $ 298,500
London Interbank Offered Rate (LIBOR)      
Debt Instrument [Line Items]      
Description of interest rate options The interest rates applicable to Term Loan A are based on the Company's consolidated leverage ratio    
London Interbank Offered Rate (LIBOR) | Minimum      
Debt Instrument [Line Items]      
Debt instrument, basis spread on variable rate 1.50%    
London Interbank Offered Rate (LIBOR) | Maximum      
Debt Instrument [Line Items]      
Debt instrument, basis spread on variable rate 2.25%    
Base Rate Margin      
Debt Instrument [Line Items]      
Description of interest rate options The interest rates applicable to Term Loan A are based on the Company's consolidated leverage ratio    
Base Rate Margin | Minimum      
Debt Instrument [Line Items]      
Debt instrument, basis spread on variable rate 0.50%    
Base Rate Margin | Maximum      
Debt Instrument [Line Items]      
Debt instrument, basis spread on variable rate 1.25%    
v3.3.1.900
Long-Term Debt - Additional Information - Acquisition Term Loan (Detail) - Flagstone - Term Loan A-1 - USD ($)
$ in Millions
Jul. 29, 2014
Dec. 31, 2015
Debt Instrument [Line Items]    
Term loan maturity date May 06, 2019  
Term loan - issuance amount $ 200.0  
Term Loans   $ 190.0
Payment frequency Quarterly  
London Interbank Offered Rate (LIBOR)    
Debt Instrument [Line Items]    
Description of interest rate options The interest rates applicable to Term Loan A-1 are based on the Company's consolidated leverage ratio  
London Interbank Offered Rate (LIBOR) | Minimum    
Debt Instrument [Line Items]    
Debt instrument, basis spread on variable rate 1.25%  
London Interbank Offered Rate (LIBOR) | Maximum    
Debt Instrument [Line Items]    
Debt instrument, basis spread on variable rate 2.00%  
Base Rate Margin    
Debt Instrument [Line Items]    
Description of interest rate options The interest rates applicable to Term Loan A-1 are based on the Company's consolidated leverage ratio  
Base Rate Margin | Minimum    
Debt Instrument [Line Items]    
Debt instrument, basis spread on variable rate 0.25%  
Base Rate Margin | Maximum    
Debt Instrument [Line Items]    
Debt instrument, basis spread on variable rate 1.00%  
v3.3.1.900
Long-Term Debt - Additional Information - 2022 Notes (Detail) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Mar. 11, 2014
Mar. 31, 2014
Dec. 31, 2015
2022 Notes      
Debt Instrument [Line Items]      
Gross proceeds from issuance of debt $ 400    
Underwriting discount 6    
Net proceeds from issuance of debt $ 394    
Stated debt interest rate 4.875%    
Effective interest rate on senior notes 4.99%    
Term loan maturity date Mar. 15, 2022    
Redemption prices, plus accrued and unpaid interest, Percentage     101.00%
Senior notes, early redemption description     In the event of a change in control of the Company, the Company will be required to make an offer to purchase the 2022 Notes at a purchase price equal to 101% of the principal amount of the 2022 Notes, plus accrued and unpaid interest up to the purchase date.
2022 Notes | Payment Date One      
Debt Instrument [Line Items]      
Interest payment date --03-15    
2022 Notes | Payment Date Two      
Debt Instrument [Line Items]      
Interest payment date --09-15    
2018 Notes      
Debt Instrument [Line Items]      
Stated debt interest rate 7.75% 7.75%  
Term loan maturity date   Mar. 01, 2018  
Debt Instrument, Redemption, Period One | 2022 Notes      
Debt Instrument [Line Items]      
Redemption prices, plus accrued and unpaid interest, Percentage     100.00%
Senior notes, early redemption end date     Mar. 14, 2017
Senior notes, early redemption description     The Company may redeem some or all of the 2022 Notes at any time prior to March 15, 2017 at a price equal to 100% of the principal amount of the 2022 Notes redeemed, plus an applicable "make-whole" premium.
Debt Instrument, Redemption, Period Two | 2022 Notes      
Debt Instrument [Line Items]      
Redemption prices, plus accrued and unpaid interest, Percentage     104.875%
Senior notes, early redemption end date     Mar. 15, 2017
Senior notes, early redemption description     In addition, at any time prior to March 15, 2017, the Company may redeem up to 35% of the 2022 Notes at a redemption price of 104.875% of the principal amount of the 2022 Notes redeemed with the net cash proceeds of certain equity offerings.
Senior notes, redemption rate of principal amount     35.00%
Debt Instrument, Redemption, Period Three | 2022 Notes      
Debt Instrument [Line Items]      
Senior notes, early redemption description     On or after March 15, 2017, the Company may redeem some or all of the 2022 Notes at redemption prices set forth in the Indenture.
Senior notes, early redemption start date     Mar. 14, 2017
v3.3.1.900
Long-Term Debt - Additional Information - Tax Increment Financing (Detail) - Tax Increment Financing - USD ($)
$ in Millions
 12 Months Ended
Dec. 15, 2001
Dec. 31, 2015
Debt Instrument [Line Items]    
Tax Increment Financing - issuance amount $ 4.0  
Maturity Date   May 01, 2019
Tax increment financing   $ 1.3
Stated debt interest rate   7.16%
Discussion on use of funds On December 15, 2001, the Urban Redevelopment Authority of Pittsburgh ("URA") issued $4.0 million of redevelopment bonds, pursuant to a "Tax Increment Financing Plan" to assist with certain aspects of the development and construction of the Company's Pittsburgh, Pennsylvania facilities. The agreement was transferred to the Company as part of the acquisition of the soup and infant feeding business.  
v3.3.1.900
Long-Term Debt - Additional Information - Capital Lease and Other Obligations (Detail)
$ in Millions
Dec. 31, 2015
USD ($)
Machinery and equipment  
Debt Instrument [Line Items]  
Capital lease obligations $ 4.7
v3.3.1.900
Long-Term Debt - Additional Information - Deferred financing costs (Detail) - USD ($)
$ in Thousands
Dec. 31, 2015
Dec. 31, 2014
Debt Instrument [Line Items]    
Deferred financing costs $ 7,868 $ 9,118
Other assets, net 17,616 16,389
Current portion of long-term debt 14,893 12,994
Long-term debt 1,221,741 1,437,749
Accounting Standards Update 2015-03 | Restatement Adjustment    
Debt Instrument [Line Items]    
Other assets, net   (9,100)
Current portion of long-term debt   (1,400)
Long-term debt   $ (7,700)
Long Term Debt Current    
Debt Instrument [Line Items]    
Deferred financing costs 1,400  
Long-term Debt    
Debt Instrument [Line Items]    
Deferred financing costs $ 6,500  
v3.3.1.900
Stockholders' Equity - Additional Information (Detail) - USD ($)
$ / shares in Units, $ in Thousands
 12 Months Ended
Jul. 22, 2014
Dec. 31, 2014
Dec. 31, 2015
Stockholders Equity Note [Line Items]      
Common stock, shares authorized   90,000,000 90,000,000
Common stock, par value   $ 0.01 $ 0.01
Net proceeds from the offering of the Shares   $ 358,364  
Common stock, shares issued   42,663,000 43,125,563
Common stock, shares outstanding   42,663,000 43,125,563
Preferred stock, shares authorized   10,000,000 10,000,000
Preferred stock, par value   $ 0.01 $ 0.01
Flagstone      
Stockholders Equity Note [Line Items]      
Common stock, par value $ 0.01    
Common stock issued for acquisition 4,950,331    
Common stock, price per share $ 75.50    
Net proceeds from the offering of the Shares $ 358,000    
v3.3.1.900
Summary of Effect of Share-Based Compensation Awards on Weighted Average Number of Shares Outstanding Used in Calculating Diluted Earnings Per Share (Detail) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2015
Sep. 30, 2015
 [1]
Jun. 30, 2015
 [2]
Mar. 31, 2015
Dec. 31, 2014
Sep. 30, 2014
 [1]
Jun. 30, 2014
 [2]
Mar. 31, 2014
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Schedule of Weighted Average Number of Diluted Shares Outstanding [Line Items]                      
Net income $ 37,255 $ 28,441 $ 31,362 $ 17,852 $ 33,917 $ 19,882 $ 21,759 $ 14,322 $ 114,910 $ 89,880 $ 86,988
Weighted average common shares outstanding                 43,052 39,348 36,418
Assumed exercise/vesting of equity awards [3]                 657 890 978
Weighted average diluted common shares outstanding                 43,709 40,238 37,396
Net earnings per basic share $ 0.86 [4] $ 0.66 [4] $ 0.73 [4] $ 0.42 [4] $ 0.80 [4] $ 0.48 [4] $ 0.59 [4] $ 0.39 [4] $ 2.67 $ 2.28 $ 2.39
Net earnings per diluted share $ 0.85 [4] $ 0.65 [4] $ 0.72 [4] $ 0.41 [4] $ 0.78 [4] $ 0.47 [4] $ 0.57 [4] $ 0.38 [4] $ 2.63 $ 2.23 $ 2.33
[1] The Company acquired Flagstone in July of 2014.
[2] The Company acquired Protenergy in May of 2014.
[3] Incremental shares from equity awards are computed by the treasury stock method. Equity awards, excluded from our computation of diluted earnings per share because they were anti-dilutive, were 0.7 million, 0.4 million, and 0.5 million for the years ended December 31, 2015, 2014, and 2013, respectively.
[4] Due to rounding and the issuance of shares in July of 2014, the sum of the four quarters may not be the same as the total for the year.
v3.3.1.900
Summary of Effect of Share-Based Compensation Awards on Weighted Average Number of Shares Outstanding Used in Calculating Diluted Earnings Per Share (Parenthetical) (Detail) - shares
shares in Millions
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Schedule of Weighted Average Number of Diluted Shares Outstanding [Line Items]      
Equity awards, excluded from computation of diluted earnings 0.7 0.4 0.5
v3.3.1.900
Stock-Based Compensation - Additional Information (Detail) - USD ($)
$ / shares in Units, $ in Thousands
 12 Months Ended
Apr. 23, 2015
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Share-based compensation expense   $ 22,877 $ 25,067 $ 16,118
Tax benefit recognized related to the compensation cost of share-based awards   $ 9,500 $ 8,800 $ 5,900
Expected term   6 years    
Performance units converted into shares of common stock   93,505    
Stock units, vested   66,674    
Conversion ratio of awards vesting   71.00%    
Employee Stock Option        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Compensation costs, unrecognized   $ 10,700    
Compensation costs, recognition weighted average remaining period (in years)   2 years    
Weighted average grant date fair   $ 22.04 $ 23.00 $ 20.47
Share based compensation arrangement, award vesting period   3 years    
Share based compensation arrangement, award expiration period   10 years    
Expected term   6 years 6 years 6 years
Employee Stock Option | Year One        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Share based compensation arrangement, award vesting percentage   33.33%    
Employee Stock Option | Year Two        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Share based compensation arrangement, award vesting percentage   33.33%    
Employee Stock Option | Year Three        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Share based compensation arrangement, award vesting percentage   33.33%    
Employee Restricted Stock Units        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Stock units, vested   186,000    
Employee Restricted Stock Units | Year One        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Share based compensation arrangement, award vesting percentage   33.33%    
Employee Restricted Stock Units | Year Two        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Share based compensation arrangement, award vesting percentage   33.33%    
Employee Restricted Stock Units | Year Three        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Share based compensation arrangement, award vesting percentage   33.33%    
Director Restricted Stock Units        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Number of restricted stock units, earned and deferred   95,000    
Stock units, vested   6,000    
Employee Restricted Stock Units and Director Restricted Stock Units        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Compensation costs, unrecognized   $ 16,600    
Compensation costs, recognition weighted average remaining period (in years)   1 year 10 months 24 days    
Performance Units        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Compensation costs, unrecognized   $ 9,700    
Compensation costs, recognition weighted average remaining period (in years)   2 years    
Share based compensation arrangement, award vesting period   3 years    
Stock units, vested   67    
Performance Units | Each of the three performance periods | Minimum        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Predefined percentage for calculation of performance unit awards   0.00%    
Performance Units | Each of the three performance periods | Maximum        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Predefined percentage for calculation of performance unit awards   200.00%    
Performance Units | Cumulative performance period | Minimum        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Predefined percentage for calculation of performance unit awards   0.00%    
Performance Units | Cumulative performance period | Maximum        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Predefined percentage for calculation of performance unit awards   200.00%    
TreeHouse Foods, Inc. Equity and Incentive Plan        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Increase number of shares available for issuance 3,000,000      
Maximum number of shares available to be awarded   12,300,000    
Shares available   3,300,000    
v3.3.1.900
Summary of Stock Option Activity (Detail) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Employee And Director Stock Option    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Outstanding, Beginning Balance $ 49.53  
Granted 76.61  
Forfeited 76.32  
Exercised 29.32  
Outstanding, Ending Balance 57.18 $ 49.53
Vested/expect to vest, at December 31, 2015 56.67  
Exercisable, at December 31, 2015 $ 46.81  
Outstanding, Ending Balance 6 years 2 months 12 days 5 years 8 months 12 days
Vested/expect to vest, at December 31, 2015 6 years 1 month 6 days  
Exercisable, at December 31, 2015 4 years 8 months 12 days  
Outstanding, Beginning Balance $ 68,396  
Outstanding, Ending Balance 41,793 $ 68,396
Vested/expect to vest, at December 31, 2015 41,697  
Exercisable, at December 31, 2015 $ 39,866  
Employee Stock Option    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Outstanding, Beginning Balance 1,858  
Granted 407  
Forfeited (78)  
Exercised (269)  
Outstanding, Ending Balance 1,918 1,858
Vested/expect to vest, at December 31, 2015 1,869  
Exercisable, at December 31, 2015 1,235  
Director Options    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Outstanding, Beginning Balance 42  
Exercised (22)  
Outstanding, Ending Balance 20 42
Vested/expect to vest, at December 31, 2015 20  
Exercisable, at December 31, 2015 20  
v3.3.1.900
Summary of Employee and Director Stock Option Highlights (Detail) - Employee And Director Stock Option - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Intrinsic value of stock options exercised $ 15.7 $ 53.7 $ 6.4
Compensation expense 6.6 5.4 3.8
Tax benefit recognized from stock option exercises $ 6.0 $ 20.7 $ 2.7
v3.3.1.900
Assumptions Used to Calculate Value of Option Awards Granted (Detail)
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Expected term 6 years    
Employee Stock Option      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Weighted average expected volatility 25.07% 25.18% 30.21%
Weighted average risk-free interest rate 1.97% 2.03% 0.995%
Expected dividends 0.00% 0.00% 0.00%
Expected term 6 years 6 years 6 years
v3.3.1.900
Summary of Restricted Stock and Restricted Stock Unit Activity (Detail)
 12 Months Ended
Dec. 31, 2015
$ / shares
shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Vested (66,674)
Employee Restricted Stock Units  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Beginning Balance 392,000
Granted 181,000
Vested (186,000)
Forfeited (75,000)
Ending Balance 312,000
Beginning Balance | $ / shares $ 71.97
Granted | $ / shares 77.06
Vested | $ / shares 67.93
Forfeited | $ / shares 76.36
Ending Balance | $ / shares $ 76.36
Director Restricted Stock Units  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Beginning Balance 101,000
Granted 16,000
Vested (6,000)
Ending Balance 111,000
Beginning Balance | $ / shares $ 49.71
Granted | $ / shares 76.30
Vested | $ / shares 68.58
Ending Balance | $ / shares $ 52.60
v3.3.1.900
Summary of Employee and Director Restricted Stock and Restricted Stock Highlights (Detail) - Employee Restricted Stock Units and Director Restricted Stock Units - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Compensation expense $ 11.7 $ 11.9 $ 8.9
Fair value of vested restricted stock units 14.9 12.9 9.8
Tax benefit recognized from vested restricted stock units $ 4.9 $ 4.7 $ 3.3
v3.3.1.900
Summary of Performance Unit Activity (Detail)
 12 Months Ended
Dec. 31, 2015
$ / shares
shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Vested (66,674)
Performance Units  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Beginning Balance 269,000
Granted 106,000
Vested (67)
Forfeited (37,000)
Ending Balance 271,000
Beginning Balance | $ / shares $ 68.76
Granted | $ / shares 76.30
Vested | $ / shares 60.88
Forfeited | $ / shares 65.06
Ending Balance | $ / shares $ 74.13
v3.3.1.900
Summary of Performance Unit Highlights (Detail) - Performance Units - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Compensation expense $ 4.6 $ 7.8 $ 3.4
Fair value of vested performance units 5.1 0.4 2.0
Tax benefit recognized from performance units vested $ 1.9 $ 0.2 $ 0.7
v3.3.1.900
Components of Accumulated Other Comprehensive Loss Net of Tax Except for Foreign Currency Translation Adjustment (Detail) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Accumulated Other Comprehensive Income (Loss) [Line Items]      
Beginning Balance $ (64,331) $ (31,763) $ (16,640)
Other comprehensive loss (49,186) (26,637) (22,682)
Reclassifications from accumulated other comprehensive loss 49 (5,931) 7,559
Other comprehensive (loss) income (49,137) (32,568) (15,123)
Ending Balance (113,468) (64,331) (31,763)
Foreign Currency Translation      
Accumulated Other Comprehensive Income (Loss) [Line Items]      
Beginning Balance [1] (51,326) (24,689) (2,007)
Other comprehensive loss [1] (49,186) (26,637) (22,682)
Other comprehensive (loss) income [1] (49,186) (26,637) (22,682)
Ending Balance [1] (100,512) (51,326) (24,689)
Unrecognized Pension and Postretirement Benefits      
Accumulated Other Comprehensive Income (Loss) [Line Items]      
Beginning Balance [2] (13,005) (7,074) (14,525)
Reclassifications from accumulated other comprehensive loss [2] 49 (5,931) 7,451
Other comprehensive (loss) income [2] 49 (5,931) 7,451
Ending Balance [2] $ (12,956) $ (13,005) (7,074)
Derivative Financial Instrument      
Accumulated Other Comprehensive Income (Loss) [Line Items]      
Beginning Balance [3]     (108)
Reclassifications from accumulated other comprehensive loss [3]     108
Other comprehensive (loss) income [3]     $ 108
[1] The foreign currency translation adjustment is not net of tax, as it pertains to the Company's permanent investment in its Canadian subsidiaries.
[2] The unrecognized pension and postretirement benefits reclassification is presented net of tax of $30 thousand, $(3,683) thousand, and $4,592 thousand for the years ended December 31, 2015, 2014, and 2013, respectively.
[3] The derivative financial instrument reclassification is presented net of tax of $68 thousand for the year ended December 31, 2013.
v3.3.1.900
Components of Accumulated Other Comprehensive Loss Net of Tax Except for Foreign Currency Translation Adjustment (Parenthetical) (Detail) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Accumulated Other Comprehensive Income (Loss) [Line Items]      
Pension and post-retirement reclassification adjustment, tax $ 30 $ (3,683) $ 4,592
Derivative reclassification adjustment, tax     $ 68
v3.3.1.900
Reclassifications from Accumulated Other Comprehensive Loss (Detail) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2015
Sep. 30, 2015
 [1]
Jun. 30, 2015
 [2]
Mar. 31, 2015
Dec. 31, 2014
Sep. 30, 2014
 [1]
Jun. 30, 2014
 [2]
Mar. 31, 2014
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]                      
Interest expense                 $ (45,474) $ (42,036) $ (49,304)
Total before tax $ 57,401 $ 40,275 $ 47,787 $ 25,801 $ 51,992 $ 30,795 $ 33,740 $ 20,043 171,264 136,570 124,910
Income taxes                 56,354 46,690 37,922
Net income 37,255 $ 28,441 $ 31,362 $ 17,852 33,917 $ 19,882 $ 21,759 $ 14,322 114,910 89,880 86,988
Reclassification out of Accumulated Other Comprehensive Income | Derivative Financial Instrument                      
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]                      
Interest expense                     176
Income taxes                     68
Net income                     108
Reclassification out of Accumulated Other Comprehensive Income | Unrecognized Pension and Postretirement Benefits                      
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]                      
Prior service costs [3]                 139 139 385
Unrecognized net loss [3]                 1,576 681 1,880
Actuarial Adjustment [4] $ (1,636)       $ (10,434)       (1,636) (10,434) 9,717
Other                     61
Total before tax                 79 (9,614) 12,043
Income taxes                 (30) 3,683 (4,592)
Net income                 $ 49 $ (5,931) $ 7,451
[1] The Company acquired Flagstone in July of 2014.
[2] The Company acquired Protenergy in May of 2014.
[3] These accumulated other comprehensive income components are included in the computation of net periodic pension and postretirement cost. See Note 16 for additional details.
[4] Represents the actuarial adjustment needed to adjust the Accumulated other comprehensive loss balance to actual.
v3.3.1.900
Employee Pension And Postretirement Benefit Plans - Additional Information (Detail) - USD ($)
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Defined Benefit Plan Disclosure [Line Items]      
Contribution made by the company $ 6,700,000 $ 6,000,000 $ 4,900,000
Pension Benefits      
Defined Benefit Plan Disclosure [Line Items]      
Contribution made by the company 2,040,000 4,060,000  
Estimated employer contribution for 2015 $ 2,600,000    
Substantial pension balances owed upon retirement   564,000  
Pension Benefits | Equity      
Defined Benefit Plan Disclosure [Line Items]      
Targeted equities percentage under investment policy, minimum 55.00%    
Targeted equities percentage under investment policy, maximum 65.00%    
Percentage of plan asset allocation 59.70%    
Pension Benefits | Fixed Income Securities      
Defined Benefit Plan Disclosure [Line Items]      
Targeted equities percentage under investment policy, minimum 35.00%    
Targeted equities percentage under investment policy, maximum 45.00%    
Percentage of plan asset allocation 39.90%    
Pension Benefits | Cash and Cash Equivalents      
Defined Benefit Plan Disclosure [Line Items]      
Percentage of plan asset allocation 0.40%    
Postretirement Benefits      
Defined Benefit Plan Disclosure [Line Items]      
Contribution made by the company $ 153,000 80,000  
Estimated employer contribution for 2015 200,000    
Multiemployer Plans, Pension      
Defined Benefit Plan Disclosure [Line Items]      
Multiemployer plans contribution 1,400,000 1,500,000 1,400,000
Withdrawal liability 800,000 900,000  
Other Multiemployer Plans, Pension      
Defined Benefit Plan Disclosure [Line Items]      
Withdrawal liability 0    
Multiemployer Plans, Postretirement Benefit      
Defined Benefit Plan Disclosure [Line Items]      
Multiemployer plans contribution $ 2,600,000 $ 2,500,000 $ 2,200,000
Minimum      
Defined Benefit Plan Disclosure [Line Items]      
Percentage of participant's annual compensation for employer matching and profit sharing contributions 1.00%    
Percentage of total contributions 5.00%    
Maximum      
Defined Benefit Plan Disclosure [Line Items]      
Percentage of participant's annual compensation for employer matching and profit sharing contributions 80.00%    
v3.3.1.900
Multiemployer Pension Plans (Detail) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Central States Southeast and Southwest Areas Pension Fund      
Multiemployer Plans [Line Items]      
EIN Number 362154936    
Plan Number 001    
Pension Protection Act Zone Status Plan   Red Red
FIP Implemented (yes or no) Implemented    
TreeHouse Foods Contributions $ 610 $ 617 $ 592
Surcharge Imposed (yes or no) No    
Expiration Date Of Collective Bargaining Agreement Dec. 27, 2016    
Rockford Area Dairy Industry Local 754, Intl. Brotherhood of Teamsters Retirement Pension Plan      
Multiemployer Plans [Line Items]      
EIN Number 366067654    
Plan Number 001    
Pension Protection Act Zone Status Plan   Green Green
FIP Implemented (yes or no) No    
TreeHouse Foods Contributions $ 416 $ 474 $ 384
Surcharge Imposed (yes or no) No    
Expiration Date Of Collective Bargaining Agreement Apr. 30, 2017    
Western Conference Of Teamsters Pension Fund      
Multiemployer Plans [Line Items]      
EIN Number 916145047    
Plan Number 001    
Pension Protection Act Zone Status Plan   Green Green
FIP Implemented (yes or no) No    
TreeHouse Foods Contributions $ 345 $ 336 $ 361
Surcharge Imposed (yes or no) No    
Expiration Date Of Collective Bargaining Agreement Feb. 28, 2016    
v3.3.1.900
Multiemployer Plans Providing More Than Five Percent of Total Contributions For Following Plan and Plan Years (Detail)
 12 Months Ended
Dec. 31, 2015
Rockford Area Dairy Industry Local 754, Intl. Brotherhood of Teamsters Retirement Pension Plan  
Multiemployer Plans [Line Items]  
Year Contributions to Plan Exceeded More Than 5% of total Contributions 2015, 2014, and 2013
v3.3.1.900
Fair Value of Pension Plan Assets, by Asset Category (Detail) - Pension Benefits - USD ($)
$ in Thousands
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Defined Benefit Plan Disclosure [Line Items]      
Fair value of plan assets $ 49,353 [1] $ 51,312 [1] $ 48,761
Fair Value, Inputs, Level 2 | Short Term Investment Fund      
Defined Benefit Plan Disclosure [Line Items]      
Fair value of plan assets [2] 228 52  
Fair Value, Inputs, Level 2 | Aggregate Bond Index Fund      
Defined Benefit Plan Disclosure [Line Items]      
Fair value of plan assets [3] 9,945 10,312  
Fair Value, Inputs, Level 2 | US Market Cap Equity Index Fund      
Defined Benefit Plan Disclosure [Line Items]      
Fair value of plan assets [4] 24,613 25,858  
Fair Value, Inputs, Level 2 | International All Country World Index Fund      
Defined Benefit Plan Disclosure [Line Items]      
Fair value of plan assets [5] 3,421 3,407  
Fair Value, Inputs, Level 2 | Collective Daily 1-5 year Credit Bond Fund      
Defined Benefit Plan Disclosure [Line Items]      
Fair value of plan assets [6] 7,787 8,234  
Fair Value, Inputs, Level 2 | Emerging Markets Index Fund      
Defined Benefit Plan Disclosure [Line Items]      
Fair value of plan assets [7] 1,417 1,375  
Fair Value, Inputs, Level 2 | Daily High Yield Fixed Income Fund      
Defined Benefit Plan Disclosure [Line Items]      
Fair value of plan assets [8] $ 1,942 $ 2,074  
[1] As described in in Note 2, the Company adopted ASU 2015-07, which removes the requirement to categorize investments within the fair value hierarchy for which fair value is measured using the net asset value per share practical expedient. As the fair values of all of these assets are measured using the net asset value per share practical expedient, levels within the fair value hierarchy are not provided for these assets.
[2] This fund is an investment vehicle for cash reserves, which seeks to offer a competitive rate of return through a portfolio of high-grade, short term, and money market instruments. Principal preservation is the primary objective of this fund.
[3] The primary objective of this fund is to hold a portfolio representative of the overall United States bond and debt market, as characterized by the Barclays Capital Aggregate Bond Index.
[4] The primary objective of this fund is to approximate the risk and return characteristics of the Dow Jones U.S. ex-LP's Total Stock Market Index.
[5] The primary objective of this fund is to approximate the risk and return characteristics of the Morgan Stanley All Country World ex-US (MSCI ACWI ex-US) ND Index. This fund is commonly used to represent the non-U.S. equity in developed and emerging markets.
[6] The primary objective of this fund is to hold a portfolio representative of the intermediate credit securities portion of the United States bond and debt markets, as characterized by the Barclays Capital U.S. 1-5 year Credit Bond Index.
[7] The primary objective of this fund is to provide investment results that replicate the overall performance of the MSCI Emerging Markets Index. The Fund may make limited use of futures and/or options to maintain equity exposure.
[8] The primary objective of this fund is to outperform the Barclay's Capital High Yield Index over a market cycle while maintaining a similar level of volatility and credit quality as the index. This Fund can serve as a core bond investment position, providing exposure to the U.S. Fixed Income market.
v3.3.1.900
Summarized Information about Pension and Postretirement Benefit Plans (Detail) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Change in plan assets:      
Company contributions $ 6,700 $ 6,000 $ 4,900
Pension Benefits      
Change in benefit obligation:      
Benefit obligation, at beginning of year 67,605 56,672  
Service cost 2,374 2,107 2,407
Interest cost 2,850 2,772 2,466
Settlements   98  
Actuarial (gains) losses (1,813) 10,707  
Benefits paid (3,165) (4,751)  
Benefit obligation, at end of year 67,851 67,605 56,672
Change in plan assets:      
Fair value of plan assets, at beginning of year 51,312 [1] 48,761  
Actual return on plan assets (834) 3,242  
Company contributions 2,040 4,060  
Benefits paid (3,165) (4,751)  
Fair value of plan assets, at end of year 49,353 [1] 51,312 [1] 48,761
Funded status of the plan (18,498) (16,293)  
Amounts recognized in the Consolidated Balance Sheets:      
Non-current liability (18,498) (16,293)  
Net amount recognized (18,498) (16,293)  
Amounts recognized in Accumulated Other Comprehensive Loss:      
Net actuarial loss 19,785 19,228  
Prior service cost 1,374 1,581  
Total, before tax effect 21,159 20,809  
Postretirement Benefits      
Change in benefit obligation:      
Benefit obligation, at beginning of year 3,463 3,155  
Service cost 15 17 22
Interest cost 144 153 138
Actuarial (gains) losses (449) 218  
Benefits paid (153) (80)  
Benefit obligation, at end of year 3,020 3,463 $ 3,155
Change in plan assets:      
Company contributions 153 80  
Benefits paid (153) (80)  
Funded status of the plan (3,020) (3,463)  
Amounts recognized in the Consolidated Balance Sheets:      
Current liability (171) (151)  
Non-current liability (2,849) (3,312)  
Net amount recognized (3,020) (3,463)  
Amounts recognized in Accumulated Other Comprehensive Loss:      
Net actuarial loss 162 659  
Prior service cost (168) (236)  
Total, before tax effect $ (6) $ 423  
[1] As described in in Note 2, the Company adopted ASU 2015-07, which removes the requirement to categorize investments within the fair value hierarchy for which fair value is measured using the net asset value per share practical expedient. As the fair values of all of these assets are measured using the net asset value per share practical expedient, levels within the fair value hierarchy are not provided for these assets.
v3.3.1.900
Accumulated Benefit Obligation (Detail) - USD ($)
$ in Thousands
Dec. 31, 2015
Dec. 31, 2014
Pension Benefits    
Defined Benefit Plan Disclosure [Line Items]    
Accumulated benefit obligation $ 65,323 $ 65,497
v3.3.1.900
Weighted Average Assumptions Used to Determine Pension Benefit Obligations (Detail)
Dec. 31, 2015
Dec. 31, 2014
Weighted average assumptions used to determine the pension benefit obligations:    
Discount rate 4.50% 4.25%
Minimum    
Weighted average assumptions used to determine the pension benefit obligations:    
Rate of compensation increases 3.00% 3.00%
Maximum    
Weighted average assumptions used to determine the pension benefit obligations:    
Rate of compensation increases 4.00% 4.00%
v3.3.1.900
Key Actuarial Assumptions Used to Determine Postretirement Benefit Obligations (Detail)
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Health care cost trend rates:    
Discount rate 4.50% 4.25%
Pre-65    
Health care cost trend rates:    
Health care cost trend rate for next year 8.00% 8.00%
Ultimate rate 5.00% 5.00%
Discount rate 4.50% 4.25%
Year ultimate rate achieved 2024 2023
Post 65    
Health care cost trend rates:    
Health care cost trend rate for next year 7.50% 7.50%
Ultimate rate 5.00% 5.00%
Discount rate 4.50% 4.25%
Year ultimate rate achieved 2023 2020
v3.3.1.900
Summary of Net Periodic Cost of Pension and Postretirement Benefit Plans (Detail) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Pension Benefits      
Components of net periodic costs:      
Service cost $ 2,374 $ 2,107 $ 2,407
Interest cost 2,850 2,772 2,466
Expected return on plan assets (3,064) (3,217) (2,665)
Amortization of unrecognized prior service cost 207 207 455
Amortization of unrecognized net loss 1,528 663 1,733
ASC 715 settlement charge   564  
Net periodic cost 3,895 3,096 4,396
Postretirement Benefits      
Components of net periodic costs:      
Service cost 15 17 22
Interest cost 144 153 138
Amortization of unrecognized prior service cost (68) (68) (68)
Amortization of unrecognized net loss 48 18 46
Net periodic cost $ 139 $ 120 $ 138
v3.3.1.900
Weighted Average Assumptions Used to Determine Pension Benefit Costs (Detail)
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Pension Benefits      
Weighted average assumptions used to determine the periodic benefit costs:      
Discount rate 4.25%   4.25%
Expected return on plan assets 6.00% 6.50% 6.50%
Pension Benefits | Maximum      
Weighted average assumptions used to determine the periodic benefit costs:      
Discount rate   5.00%  
Rate of compensation increases 4.00% 4.00% 4.00%
Pension Benefits | Minimum      
Weighted average assumptions used to determine the periodic benefit costs:      
Discount rate   4.50%  
Rate of compensation increases 3.00% 3.00% 3.00%
Postretirement Benefits      
Weighted average assumptions used to determine the periodic benefit costs:      
Discount rate 4.25% 5.00% 4.25%
v3.3.1.900
Estimated Amount That Will be Amortized From Accumulated Other Comprehensive Loss Into Net Pension Cost (Detail)
$ in Thousands
 12 Months Ended
Dec. 31, 2015
USD ($)
Pension Benefits  
Defined Benefit Plan Disclosure [Line Items]  
Net actuarial loss (gain) $ 1,530
Prior service cost 207
Postretirement Benefits  
Defined Benefit Plan Disclosure [Line Items]  
Net actuarial loss (gain) (7)
Prior service cost $ (68)
v3.3.1.900
Estimated Future Pension and Postretirement Benefit Payments (Detail)
$ in Thousands
Dec. 31, 2015
USD ($)
Pension Benefits  
Defined Benefit Plan Disclosure [Line Items]  
2016 $ 3,251
2017 3,186
2018 3,487
2019 3,602
2020 3,736
2021-25 20,796
Postretirement Benefits  
Defined Benefit Plan Disclosure [Line Items]  
2016 171
2017 157
2018 151
2019 151
2020 159
2021-25 $ 880
v3.3.1.900
Effect of One Percent Change in Health Care Trend Rates on Postretirement Benefit Plan (Detail)
$ in Thousands
 12 Months Ended
Dec. 31, 2015
USD ($)
Defined Benefit Plan Disclosure [Line Items]  
Benefit obligation, end of year $ 315
Service cost plus interest cost for the year 15
Benefit obligation, end of year (262)
Service cost plus interest cost for the year $ (12)
v3.3.1.900
Other Operating Expense (Detail) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Other Operating Income Expense Net [Line Items]      
Restructuring $ 1,817 $ 2,421 $ 5,947
Total other operating expense, net $ 1,817 $ 2,421 $ 5,947
v3.3.1.900
Supplemental Cash Flow Information (Detail) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Schedule of Cash Flow, Supplemental [Line Items]      
Interest paid $ 41,940 $ 43,598 $ 45,998
Income taxes paid 50,059 50,590 38,533
Accrued purchase of property and equipment 6,925 7,497 8,824
Accrued other intangible assets $ 1,988 $ 2,005 $ 1,664
v3.3.1.900
Supplemental Cash Flow Information - Additional Information (Detail) - shares
shares in Millions
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Schedule of Cash Flow, Supplemental [Line Items]      
Restricted stock, restricted stock units and performance units, vesting shares 20.0 13.4 11.9
v3.3.1.900
Commitments and Contingencies - Additional Information (Detail) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Commitments and Contingencies Disclosure [Line Items]      
Rent expense $ 31.9 $ 28.3 $ 22.8
Minimum      
Commitments and Contingencies Disclosure [Line Items]      
Lease term 1 year    
Maximum      
Commitments and Contingencies Disclosure [Line Items]      
Lease term 17 years    
v3.3.1.900
Composition of Capital Leases Reflected As Property, Plant And Equipment in Consolidated Balance Sheets (Detail) - USD ($)
$ in Thousands
Dec. 31, 2015
Dec. 31, 2014
Commitment And Contingencies [Line Items]    
Machinery and equipment $ 13,926 $ 14,186
Less accumulated amortization (6,157) (4,691)
Total $ 7,769 $ 9,495
v3.3.1.900
Future Minimum Payments under Non-Cancelable Capital Leases, Operating Leases and Purchase Obligations (Detail)
$ in Thousands
Dec. 31, 2015
USD ($)
Commitments and Contingencies [Line Items]  
2016 $ 3,105
2017 1,360
2018 256
2019 71
2020 67
Thereafter 55
Total minimum payments 4,914
Less amount representing interest (167)
Present value of capital lease obligations 4,747
2016 21,925
2017 18,533
2018 14,082
2019 10,756
2020 10,664
Thereafter 29,637
Total minimum payments 105,597
2016 455,799
2017 26,722
2018 1,868
2019 1,924
2020 1,982
Thereafter 2,042
Total minimum payments $ 490,337
v3.3.1.900
Derivative Instruments - Additional Information (Detail)
 12 Months Ended
Dec. 31, 2015
USD ($)
DTH
gal
MW
lb
Foreign Currency Contract  
Derivative [Line Items]  
Derivative notional amount | $ $ 23,000,000
Derivative, expiration period Expiring throughout 2016
Electricity Contract  
Derivative [Line Items]  
Derivative, expiration period Throughout 2016
Notional amount outstanding | MW 56,764
Diesel Contract  
Derivative [Line Items]  
Derivative, expiration period Throughout 2016
Notional amount outstanding | gal 5,200,000
Natural Gas Contract  
Derivative [Line Items]  
Derivative, expiration period Throughout 2016
Notional amount outstanding | DTH 2,400,000
Coffee Contract  
Derivative [Line Items]  
Derivative, expiration period Throughout 2016
Notional amount outstanding | lb 1,500,000
v3.3.1.900
Derivative, Fair Value, and Location on Condensed Consolidated Balance Sheets (Detail) - USD ($)
$ in Thousands
Dec. 31, 2015
Dec. 31, 2014
Derivatives, Fair Value [Line Items]    
Asset derivative, fair value $ 1,356  
Liability derivative, fair value 3,778 $ 3,044
Foreign Currency Contract | Prepaid expenses and other current assets    
Derivatives, Fair Value [Line Items]    
Asset derivative, fair value 1,356  
Commodity contracts | Accounts payable and accrued expenses    
Derivatives, Fair Value [Line Items]    
Liability derivative, fair value $ 3,778 $ 3,044
v3.3.1.900
Gains and Losses on Derivative Contracts (Detail) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Derivative Instruments, Gain (Loss) [Line Items]    
Mark to market unrealized (loss) gain, commodity $ 622 $ (3,051)
Realized (loss) gain (1,348)  
Total (loss) (726) (3,051)
Commodity contracts | Other expense, net    
Derivative Instruments, Gain (Loss) [Line Items]    
Mark to market unrealized (loss) gain, commodity (734) $ (3,051)
Commodity contracts | Selling and distribution    
Derivative Instruments, Gain (Loss) [Line Items]    
Realized (loss) gain (5,169)  
Foreign Currency Contract | Other expense, net    
Derivative Instruments, Gain (Loss) [Line Items]    
Mark to market unrealized gain (loss), foreign currency 1,356  
Foreign Currency Contract | Cost of Sales    
Derivative Instruments, Gain (Loss) [Line Items]    
Realized (loss) gain $ 3,821  
v3.3.1.900
Carrying Value and Fair Value of Financial Instruments (Detail) - USD ($)
$ in Thousands
Dec. 31, 2015
Dec. 31, 2014
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative liability $ (3,778) $ (3,044)
Derivative assets 1,356  
Carrying Value | Fair Value, Inputs, Level 2 | Revolving Credit Facility    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Revolving Credit Facility (353,000) (554,000)
Carrying Value | Fair Value, Inputs, Level 2 | Term Loan A    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Term Loan (295,500) (298,500)
Carrying Value | Fair Value, Inputs, Level 2 | Term Loan A-1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Term Loan (190,000) (197,500)
Carrying Value | Fair Value, Inputs, Level 2 | 2022 Notes    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Notes (400,000) (400,000)
Carrying Value | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Investments 8,388 9,148
Carrying Value | Fair Value, Measurements, Recurring | Commodity contracts | Fair Value, Inputs, Level 2    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative liability (3,778) (3,044)
Carrying Value | Fair Value, Measurements, Recurring | Foreign Currency Contract | Fair Value, Inputs, Level 2    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative assets 1,356  
Fair Value | Fair Value, Inputs, Level 2 | Revolving Credit Facility    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Revolving Credit Facility (352,932) (559,085)
Fair Value | Fair Value, Inputs, Level 2 | Term Loan A    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Term Loan (294,327) (315,070)
Fair Value | Fair Value, Inputs, Level 2 | Term Loan A-1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Term Loan (190,200) (202,716)
Fair Value | Fair Value, Inputs, Level 2 | 2022 Notes    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Notes (383,000) (406,000)
Fair Value | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Investments 8,388 9,148
Fair Value | Fair Value, Measurements, Recurring | Commodity contracts | Fair Value, Inputs, Level 2    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative liability (3,778) $ (3,044)
Fair Value | Fair Value, Measurements, Recurring | Foreign Currency Contract | Fair Value, Inputs, Level 2    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative assets $ 1,356  
v3.3.1.900
Financial Information Relating to Reportable Segments (Detail) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2015
Sep. 30, 2015
 [1]
Jun. 30, 2015
 [2]
Mar. 31, 2015
Dec. 31, 2014
Sep. 30, 2014
 [1]
Jun. 30, 2014
 [2]
Mar. 31, 2014
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Segment Reporting Information [Line Items]                      
Net sales $ 865,414 $ 798,638 $ 759,208 $ 783,145 $ 903,513 $ 795,726 $ 627,960 $ 618,903 $ 3,206,405 $ 2,946,102 $ 2,293,927
Direct operating income                 472,904 442,159 364,563
selling and distribution expenses                 (180,503) (174,602) (134,998)
Cost of sales                 (2,562,102) (2,339,498) (1,818,378)
Operating (loss) income                 239,736 218,154 178,164
Other expense                 (68,472) (81,584) (53,254)
Income before income taxes $ 57,401 $ 40,275 $ 47,787 $ 25,801 $ 51,992 $ 30,795 $ 33,740 $ 20,043 171,264 136,570 124,910
Depreciation                 61,469 63,281 73,267
North American Retail Grocery                      
Segment Reporting Information [Line Items]                      
Net sales                 2,437,768 2,173,391 1,642,190
Direct operating income                 348,827 326,943 258,699
Depreciation                 41,953 40,220 35,962
Food Away From Home                      
Segment Reporting Information [Line Items]                      
Net sales                 370,360 380,069 360,868
Direct operating income                 52,057 47,107 50,110
Depreciation                 8,581 8,472 9,327
Industrial and Export                      
Segment Reporting Information [Line Items]                      
Net sales                 398,277 392,642 290,869
Direct operating income                 72,020 68,109 55,754
Depreciation                 7,047 6,266 5,379
Corporate office                      
Segment Reporting Information [Line Items]                      
Depreciation [3]                 3,888 8,323 22,599
Unallocated Amount to Segment                      
Segment Reporting Information [Line Items]                      
selling and distribution expenses                 (8,934) (9,159) (5,284)
Cost of sales [4]                 (170) (998) (18,728)
Corporate expense                 $ (224,064) $ (213,848) $ (162,387)
[1] The Company acquired Flagstone in July of 2014.
[2] The Company acquired Protenergy in May of 2014.
[3] Includes accelerated depreciation related to restructurings for 2013.
[4] 2013 costs primarily related to accelerated depreciation and other charges related to restructurings.
v3.3.1.900
Segment and Geographic Information and Major Customers - Additional Information (Detail)
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Walmart Stores, Inc. and affiliates | Sales Revenue, Net | Customer Concentration Risk      
Segment Reporting Information [Line Items]      
Concentration risk, percentage 20.70% 18.80% 19.00%
Walmart Stores, Inc. and affiliates | Trade Receivables | Customer Concentration Risk      
Segment Reporting Information [Line Items]      
Concentration risk, percentage 21.90% 17.50%  
Outside of the United States | Sales Revenue, Net | Customer Concentration Risk      
Segment Reporting Information [Line Items]      
Concentration risk, percentage 11.90% 12.40% 13.20%
Canada | Sales Revenue, Net | Geographic Concentration Risk      
Segment Reporting Information [Line Items]      
Concentration risk, percentage 10.80% 11.30% 12.20%
v3.3.1.900
Long-Lived Assets by Geographic Region (Detail) - USD ($)
$ in Thousands
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Segment Reporting Information [Line Items]      
Property, plant and equipment, net $ 541,528 $ 543,778 $ 462,275
United States      
Segment Reporting Information [Line Items]      
Property, plant and equipment, net 496,933 490,850 416,170
Canada      
Segment Reporting Information [Line Items]      
Property, plant and equipment, net $ 44,595 $ 52,928 $ 46,105
v3.3.1.900
Net Sale by Major Products (Detail) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2015
Sep. 30, 2015
 [1]
Jun. 30, 2015
 [2]
Mar. 31, 2015
Dec. 31, 2014
Sep. 30, 2014
 [1]
Jun. 30, 2014
 [2]
Mar. 31, 2014
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Segment Reporting Information [Line Items]                      
Net sales $ 865,414 $ 798,638 $ 759,208 $ 783,145 $ 903,513 $ 795,726 $ 627,960 $ 618,903 $ 3,206,405 $ 2,946,102 $ 2,293,927
Snacks                      
Segment Reporting Information [Line Items]                      
Net sales                 657,993 287,281  
Beverages                      
Segment Reporting Information [Line Items]                      
Net sales                 433,828 499,829 341,547
Soup and infant feeding                      
Segment Reporting Information [Line Items]                      
Net sales                 381,444 351,917 219,404
Salad Dressings                      
Segment Reporting Information [Line Items]                      
Net sales                 351,577 361,859 334,577
Beverage Enhancers                      
Segment Reporting Information [Line Items]                      
Net sales                 338,190 359,179 361,290
Pickles                      
Segment Reporting Information [Line Items]                      
Net sales                 316,176 302,621 297,904
Mexican and other sauces                      
Segment Reporting Information [Line Items]                      
Net sales                 222,873 248,979 245,171
Cereals                      
Segment Reporting Information [Line Items]                      
Net sales                 159,761 168,739 169,843
Dry dinners                      
Segment Reporting Information [Line Items]                      
Net sales                 123,600 139,285 124,075
Aseptic products                      
Segment Reporting Information [Line Items]                      
Net sales                 107,723 102,635 96,136
Other products                      
Segment Reporting Information [Line Items]                      
Net sales                 62,037 70,720 46,650
Jams                      
Segment Reporting Information [Line Items]                      
Net sales                 $ 51,203 $ 53,058 $ 57,330
[1] The Company acquired Flagstone in July of 2014.
[2] The Company acquired Protenergy in May of 2014.
v3.3.1.900
Summary of Unaudited Quarterly Results of Operations (Detail) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2015
Sep. 30, 2015
 [1]
Jun. 30, 2015
 [2]
Mar. 31, 2015
Dec. 31, 2014
Sep. 30, 2014
 [1]
Jun. 30, 2014
 [2]
Mar. 31, 2014
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Quarterly Financial Information [Line Items]                      
Net sales $ 865,414 $ 798,638 $ 759,208 $ 783,145 $ 903,513 $ 795,726 $ 627,960 $ 618,903 $ 3,206,405 $ 2,946,102 $ 2,293,927
Gross profit 181,798 158,697 151,371 152,437 179,348 158,588 135,677 132,991 644,303 606,604 475,549
Income before income taxes 57,401 40,275 47,787 25,801 51,992 30,795 33,740 20,043 171,264 136,570 124,910
Net income $ 37,255 $ 28,441 $ 31,362 $ 17,852 $ 33,917 $ 19,882 $ 21,759 $ 14,322 $ 114,910 $ 89,880 $ 86,988
Net income per common share:                      
Basic $ 0.86 [3] $ 0.66 [3] $ 0.73 [3] $ 0.42 [3] $ 0.80 [3] $ 0.48 [3] $ 0.59 [3] $ 0.39 [3] $ 2.67 $ 2.28 $ 2.39
Diluted $ 0.85 [3] $ 0.65 [3] $ 0.72 [3] $ 0.41 [3] $ 0.78 [3] $ 0.47 [3] $ 0.57 [3] $ 0.38 [3] $ 2.63 $ 2.23 $ 2.33
[1] The Company acquired Flagstone in July of 2014.
[2] The Company acquired Protenergy in May of 2014.
[3] Due to rounding and the issuance of shares in July of 2014, the sum of the four quarters may not be the same as the total for the year.
v3.3.1.900
Condensed Supplemental Consolidating Balance Sheet (Detail) - USD ($)
$ in Thousands
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2012
Current assets:        
Cash and cash equivalents $ 34,919 $ 51,981 $ 46,475 $ 94,407
Investments 8,388 9,148    
Accounts receivable, net 203,198 233,656    
Inventories, net 584,115 594,098    
Prepaid expenses and other current assets 16,583 24,989    
Total current assets 847,203 913,872    
Property, plant, and equipment, net 541,528 543,778 462,275  
Goodwill 1,649,794 1,667,985 1,119,204  
Intangible and other assets, net 664,271 732,687    
Total assets 3,702,796 3,858,322    
Current liabilities:        
Accounts payable and accrued expenses 260,580 296,860    
Current portion of long-term debt 14,893 12,994    
Total current liabilities 275,473 309,854    
Long-term debt 1,221,741 1,437,749    
Deferred income taxes 279,108 283,890    
Other long-term liabilities 71,615 67,572    
Stockholders' equity 1,854,859 1,759,257 1,273,118 1,179,255
Total liabilities and stockholders' equity 3,702,796 3,858,322    
Deferred Income Tax Charge        
Current liabilities:        
Deferred income taxes 279,108      
Eliminations        
Current assets:        
Prepaid expenses and other current assets (16,618) (20,825)    
Total current assets (16,618) (20,825)    
Investment in subsidiaries (2,792,488) (2,699,975)    
Deferred income taxes (18,092) (20,578)    
Total assets (2,827,198) (2,741,378)    
Current liabilities:        
Accounts payable and accrued expenses (16,618) (20,825)    
Total current liabilities (16,618) (20,825)    
Deferred income taxes (18,092) (20,578)    
Stockholders' equity (2,792,488) (2,699,975)    
Total liabilities and stockholders' equity (2,827,198) (2,741,378)    
Parent Company        
Current assets:        
Cash and cash equivalents 10,384 18,706 23,268  
Accounts receivable, net 17 46    
Prepaid expenses and other current assets 17,625 32,849    
Total current assets 28,026 51,601    
Property, plant, and equipment, net 26,294 28,411    
Investment in subsidiaries 2,411,533 2,269,325    
Intercompany accounts receivable (payable), net 582,266 840,606    
Deferred income taxes 18,092 20,578    
Intangible and other assets, net 46,041 46,708    
Total assets 3,112,252 3,257,229    
Current liabilities:        
Accounts payable and accrued expenses 16,526 48,002    
Current portion of long-term debt 11,621 9,121    
Total current liabilities 28,147 57,123    
Long-term debt 1,219,011 1,431,761    
Other long-term liabilities 10,235 9,088    
Stockholders' equity 1,854,859 1,759,257    
Total liabilities and stockholders' equity 3,112,252 3,257,229    
Guarantor Subsidiaries        
Current assets:        
Cash and cash equivalents 37 1,592 3,869 269
Accounts receivable, net 181,231 186,155    
Inventories, net 500,308 497,513    
Prepaid expenses and other current assets 6,580 5,065    
Total current assets 688,156 690,325    
Property, plant, and equipment, net 448,708 440,613    
Goodwill 1,496,484 1,490,768    
Investment in subsidiaries 380,955 430,650    
Intercompany accounts receivable (payable), net (543,738) (759,593)    
Intangible and other assets, net 504,114 539,236    
Total assets 2,974,679 2,831,999    
Current liabilities:        
Accounts payable and accrued expenses 232,938 232,257    
Current portion of long-term debt 1,050 1,595    
Total current liabilities 233,988 233,852    
Long-term debt 1,062 2,027    
Deferred income taxes 273,588 278,295    
Other long-term liabilities 54,508 48,500    
Stockholders' equity 2,411,533 2,269,325    
Total liabilities and stockholders' equity 2,974,679 2,831,999    
Non-Guarantor Subsidiaries        
Current assets:        
Cash and cash equivalents 24,498 31,683 $ 19,338 $ 94,138
Investments 8,388 9,148    
Accounts receivable, net 21,950 47,455    
Inventories, net 83,807 96,585    
Prepaid expenses and other current assets 8,996 7,900    
Total current assets 147,639 192,771    
Property, plant, and equipment, net 66,526 74,754    
Goodwill 153,310 177,217    
Intercompany accounts receivable (payable), net (38,528) (81,013)    
Intangible and other assets, net 114,116 146,743    
Total assets 443,063 510,472    
Current liabilities:        
Accounts payable and accrued expenses 27,734 37,426    
Current portion of long-term debt 2,222 2,278    
Total current liabilities 29,956 39,704    
Long-term debt 1,668 3,961    
Deferred income taxes 23,612 26,173    
Other long-term liabilities 6,872 9,984    
Stockholders' equity 380,955 430,650    
Total liabilities and stockholders' equity $ 443,063 $ 510,472    
v3.3.1.900
Condensed Supplemental Consolidating Statement of Income (Detail) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2015
Sep. 30, 2015
 [1]
Jun. 30, 2015
 [2]
Mar. 31, 2015
Dec. 31, 2014
Sep. 30, 2014
 [1]
Jun. 30, 2014
 [2]
Mar. 31, 2014
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Condensed Financial Statements, Captions [Line Items]                      
Net sales $ 865,414 $ 798,638 $ 759,208 $ 783,145 $ 903,513 $ 795,726 $ 627,960 $ 618,903 $ 3,206,405 $ 2,946,102 $ 2,293,927
Cost of sales                 2,562,102 2,339,498 1,818,378
Gross profit 181,798 158,697 151,371 152,437 179,348 158,588 135,677 132,991 644,303 606,604 475,549
Selling, general and administrative expense                 342,152 333,395 256,063
Amortization                 60,598 52,634 35,375
Other operating expense, net                 1,817 2,421 5,947
Operating (loss) income                 239,736 218,154 178,164
Interest expense                 45,474 42,036 49,304
Interest income                 (2,967) (990) (2,185)
Loss on extinguishment of debt                   22,019  
Other (income) expense, net                 25,965 18,519 6,135
Income before income taxes 57,401 40,275 47,787 25,801 51,992 30,795 33,740 20,043 171,264 136,570 124,910
Income taxes (benefit)                 56,354 46,690 37,922
Net income $ 37,255 $ 28,441 $ 31,362 $ 17,852 $ 33,917 $ 19,882 $ 21,759 $ 14,322 114,910 89,880 86,988
Eliminations                      
Condensed Financial Statements, Captions [Line Items]                      
Net sales                 (255,720) (143,809) (95,459)
Cost of sales                 (255,720) (143,809) (95,459)
Interest expense                 (5,664) (3,871) (81)
Interest income                 5,664 3,871 81
Equity in net income (loss) of subsidiaries                 (191,716) (184,126) (136,716)
Net income                 (191,716) (184,126) (136,716)
Parent Company                      
Condensed Financial Statements, Captions [Line Items]                      
Selling, general and administrative expense                 73,201 68,632 52,951
Amortization                 8,097 6,521 5,445
Operating (loss) income                 (81,298) (75,153) (58,396)
Interest expense                 43,808 41,316 48,358
Interest income                 (1,450) (2)  
Loss on extinguishment of debt                   22,019  
Other (income) expense, net                 (7) 22 (3)
Income before income taxes                 (123,649) (138,508) (106,751)
Income taxes (benefit)                 (47,215) (51,761) (42,438)
Equity in net income (loss) of subsidiaries                 191,344 176,627 151,301
Net income                 114,910 89,880 86,988
Guarantor Subsidiaries                      
Condensed Financial Statements, Captions [Line Items]                      
Net sales                 2,994,438 2,596,451 2,069,073
Cost of sales                 2,405,134 2,061,598 1,644,614
Gross profit                 589,304 534,853 424,459
Selling, general and administrative expense                 233,041 221,106 173,073
Amortization                 42,332 35,409 24,351
Other operating expense, net                 1,817 2,365 3,741
Operating (loss) income                 312,114 275,973 223,294
Interest expense                 207 520 967
Interest income                 (5,664) (3,900) (12)
Other (income) expense, net                 20,311 10,329 (22,007)
Income before income taxes                 297,260 269,024 244,346
Income taxes (benefit)                 106,288 99,896 78,460
Equity in net income (loss) of subsidiaries                 372 7,499 (14,585)
Net income                 191,344 176,627 151,301
Non-Guarantor Subsidiaries                      
Condensed Financial Statements, Captions [Line Items]                      
Net sales                 467,687 493,460 320,313
Cost of sales                 412,688 421,709 269,223
Gross profit                 54,999 71,751 51,090
Selling, general and administrative expense                 35,910 43,657 30,039
Amortization                 10,169 10,704 5,579
Other operating expense, net                   56 2,206
Operating (loss) income                 8,920 17,334 13,266
Interest expense                 7,123 4,071 60
Interest income                 (1,517) (959) (2,254)
Other (income) expense, net                 5,661 8,168 28,145
Income before income taxes                 (2,347) 6,054 (12,685)
Income taxes (benefit)                 (2,719) (1,445) 1,900
Net income                 $ 372 $ 7,499 $ (14,585)
[1] The Company acquired Flagstone in July of 2014.
[2] The Company acquired Protenergy in May of 2014.
v3.3.1.900
Condensed Supplemental Consolidating Statement of Comprehensive Income (Detail) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2015
Sep. 30, 2015
 [1]
Jun. 30, 2015
 [2]
Mar. 31, 2015
Dec. 31, 2014
Sep. 30, 2014
 [1]
Jun. 30, 2014
 [2]
Mar. 31, 2014
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Condensed Financial Statements, Captions [Line Items]                      
Net income (loss) $ 37,255 $ 28,441 $ 31,362 $ 17,852 $ 33,917 $ 19,882 $ 21,759 $ 14,322 $ 114,910 $ 89,880 $ 86,988
Other comprehensive (loss) income:                      
Foreign currency translation adjustments                 (49,186) (26,637) (22,682)
Pension and postretirement reclassification adjustment, net of tax [3]                 49 (5,931) 7,451
Derivative reclassification adjustment, net of tax [4]                     108
Other comprehensive income (loss)                 (49,137) (32,568) (15,123)
Comprehensive income (loss)                 65,773 57,312 71,865
Eliminations                      
Condensed Financial Statements, Captions [Line Items]                      
Net income (loss)                 (191,716) (184,126) (136,716)
Other comprehensive (loss) income:                      
Equity in other comprehensive (loss) income of subsidiaries                 98,323 59,205 37,913
Comprehensive income (loss)                 (93,393) (124,921) (98,803)
Parent Company                      
Condensed Financial Statements, Captions [Line Items]                      
Net income (loss)                 114,910 89,880 86,988
Other comprehensive (loss) income:                      
Derivative reclassification adjustment, net of tax                     108
Other comprehensive income (loss)                     108
Equity in other comprehensive (loss) income of subsidiaries                 (49,137) (32,568) (15,231)
Comprehensive income (loss)                 65,773 57,312 71,865
Guarantor Subsidiaries                      
Condensed Financial Statements, Captions [Line Items]                      
Net income (loss)                 191,344 176,627 151,301
Other comprehensive (loss) income:                      
Pension and postretirement reclassification adjustment, net of tax                 49 (5,931) 7,451
Other comprehensive income (loss)                 49 (5,931) 7,451
Equity in other comprehensive (loss) income of subsidiaries                 (49,186) (26,637) (22,682)
Comprehensive income (loss)                 142,207 144,059 136,070
Non-Guarantor Subsidiaries                      
Condensed Financial Statements, Captions [Line Items]                      
Net income (loss)                 372 7,499 (14,585)
Other comprehensive (loss) income:                      
Foreign currency translation adjustments                 (49,186) (26,637) (22,682)
Other comprehensive income (loss)                 (49,186) (26,637) (22,682)
Comprehensive income (loss)                 $ (48,814) $ (19,138) $ (37,267)
[1] The Company acquired Flagstone in July of 2014.
[2] The Company acquired Protenergy in May of 2014.
[3] Net of tax of $30, $(3,683), and $4,592 for the years ended December 31, 2015, 2014, and 2013, respectively.
[4] Net of tax of $68 for the year ended December 31, 2013.
v3.3.1.900
Condensed Supplemental Consolidating Statement of Cash Flows (Detail) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Condensed Financial Statements, Captions [Line Items]      
Net cash (used in) provided by operating activities $ 285,318 $ 211,957 $ 216,690
Cash flows from investing activities:      
Additions to property, plant, and equipment (72,734) (88,575) (74,780)
Additions to intangible assets (13,362) (10,643) (6,403)
Acquisitions, net of cash acquired   (993,009) (218,652)
Purchase of investments (831) (584) (8,140)
Proceeds from sale of investments   63 165
Proceeds from sale of fixed assets 606 2,842 960
Net cash (used in) provided by investing activities (86,321) (1,089,906) (306,850)
Cash flows from financing activities:      
Net borrowing (repayment) of debt (215,504) 481,400 40,055
Net proceeds from issuance of stock   358,364  
Net receipts related to stock-based award activities 1,834 27,832 1,291
Excess tax benefits from stock-based payment arrangements 5,329 17,593 4,372
Other (215)    
Net cash (used in) provided by financing activities (208,556) 885,189 45,718
Effect of exchange rate changes on cash and cash equivalents (7,503) (1,734) (3,490)
(Decrease) increase in cash and cash equivalents (17,062) 5,506 (47,932)
Cash and cash equivalents, beginning of year 51,981 46,475 94,407
Cash and cash equivalents, end of year 34,919 51,981 46,475
Eliminations      
Condensed Financial Statements, Captions [Line Items]      
Net cash (used in) provided by operating activities (190,700) (183,138)  
Cash flows from investing activities:      
Intercompany transfer 125,342 183,138  
Net cash (used in) provided by investing activities 125,342 183,138  
Cash flows from financing activities:      
Intercompany transfer 65,358    
Net cash (used in) provided by financing activities 65,358    
Parent Company      
Condensed Financial Statements, Captions [Line Items]      
Net cash (used in) provided by operating activities 99,954 149,103 (45,540)
Cash flows from investing activities:      
Additions to property, plant, and equipment (874) (16,201) (48)
Additions to intangible assets (11,830) (9,012) (4,923)
Intercompany transfer (11,421) (1,055,537)  
Net cash (used in) provided by investing activities (24,125) (1,080,750) (4,971)
Cash flows from financing activities:      
Net borrowing (repayment) of debt (211,742) 484,595 42,000
Intercompany transfer 120,643 38,577 26,116
Net proceeds from issuance of stock   358,364  
Net receipts related to stock-based award activities 1,834 27,812 1,291
Excess tax benefits from stock-based payment arrangements 5,329 17,737 4,372
Other (215)    
Net cash (used in) provided by financing activities (84,151) 927,085 73,779
(Decrease) increase in cash and cash equivalents (8,322) (4,562) 23,268
Cash and cash equivalents, beginning of year 18,706 23,268  
Cash and cash equivalents, end of year 10,384 18,706 23,268
Guarantor Subsidiaries      
Condensed Financial Statements, Captions [Line Items]      
Net cash (used in) provided by operating activities 356,395 216,848 225,857
Cash flows from investing activities:      
Additions to property, plant, and equipment (61,079) (63,843) (68,530)
Additions to intangible assets (1,406) (2,516) (1,480)
Intercompany transfer (114,063) 919,876  
Acquisitions, net of cash acquired   (1,034,894) (125,158)
Proceeds from sale of fixed assets 465 2,457 966
Net cash (used in) provided by investing activities (176,083) (178,920) (194,202)
Cash flows from financing activities:      
Net borrowing (repayment) of debt (1,510) (1,504) (1,939)
Intercompany transfer (180,357) (38,577) (26,116)
Net receipts related to stock-based award activities   20  
Excess tax benefits from stock-based payment arrangements   (144)  
Net cash (used in) provided by financing activities (181,867) (40,205) (28,055)
(Decrease) increase in cash and cash equivalents (1,555) (2,277) 3,600
Cash and cash equivalents, beginning of year 1,592 3,869 269
Cash and cash equivalents, end of year 37 1,592 3,869
Non-Guarantor Subsidiaries      
Condensed Financial Statements, Captions [Line Items]      
Net cash (used in) provided by operating activities 19,669 29,144 36,373
Cash flows from investing activities:      
Additions to property, plant, and equipment (10,781) (8,531) (6,202)
Additions to intangible assets (126) 885  
Intercompany transfer 142 (47,477)  
Acquisitions, net of cash acquired   41,885 (93,494)
Purchase of investments (831) (584) (8,140)
Proceeds from sale of investments   63 165
Proceeds from sale of fixed assets 141 385 (6)
Net cash (used in) provided by investing activities (11,455) (13,374) (107,677)
Cash flows from financing activities:      
Net borrowing (repayment) of debt (2,252) (1,691) (6)
Intercompany transfer (5,644)    
Net cash (used in) provided by financing activities (7,896) (1,691) (6)
Effect of exchange rate changes on cash and cash equivalents (7,503) (1,734) (3,490)
(Decrease) increase in cash and cash equivalents (7,185) 12,345 (74,800)
Cash and cash equivalents, beginning of year 31,683 19,338 94,138
Cash and cash equivalents, end of year $ 24,498 $ 31,683 $ 19,338
v3.3.1.900
Subsequent Events - Additional Information (Detail) - USD ($)
$ / shares in Units, $ in Thousands
 12 Months Ended
Jan. 29, 2016
Jan. 26, 2016
Jan. 20, 2016
Feb. 01, 2016
Dec. 31, 2014
Subsequent Event [Line Items]          
Proceeds from issuance of stock         $ 358,364
Subsequent Event | Private brands business of ConAgra Foods          
Subsequent Event [Line Items]          
Shares issuable, in relation to the acquisition, value   $ 862,500 $ 750,000    
Shares issuable, in relation to the acquisition, shares   13,269,230 11,538,461    
Shares issuable, in relation to the acquisition, price per share     $ 65.00    
Proceeds from issuance of stock   $ 836,600   $ 836,600  
Acquisition completion date       Feb. 01, 2016  
Total consideration       $ 2,700,000  
Subsequent Event | Private brands business of ConAgra Foods | Term Loan A 2 Facility          
Subsequent Event [Line Items]          
Aggregate principal amount       $ 1,025,000  
Debt Instrument, term       5 years  
Debt instrument, leverage ratio       350.00%  
Subsequent Event | Private brands business of ConAgra Foods | Term Loan A 2 Facility | London Interbank Offered Rate (LIBOR) | Minimum          
Subsequent Event [Line Items]          
Debt instrument, basis spread on variable rate       1.25%  
Subsequent Event | Private brands business of ConAgra Foods | Term Loan A 2 Facility | London Interbank Offered Rate (LIBOR) | Maximum          
Subsequent Event [Line Items]          
Debt instrument, basis spread on variable rate       3.00%  
Subsequent Event | Private brands business of ConAgra Foods | Term Loan A 2 Facility | Base Rate Margin | Minimum          
Subsequent Event [Line Items]          
Debt instrument, basis spread on variable rate       0.25%  
Subsequent Event | Private brands business of ConAgra Foods | Term Loan A 2 Facility | Base Rate Margin | Maximum          
Subsequent Event [Line Items]          
Debt instrument, basis spread on variable rate       2.00%  
Subsequent Event | Private brands business of ConAgra Foods | 2024 Notes          
Subsequent Event [Line Items]          
Debt issuance date Jan. 29, 2016        
Aggregate principal amount $ 775,000        
Percentage of unsecured senior notes 6.00%        
Maturity Date Feb. 15, 2024        
Interest payment dates of 2024 Notes February 15th and August 15th of each year, beginning August 15, 2016.        
Net proceeds from the issuance of the 2024 Notes $ 763,400     $ 763,400  
Subsequent Event | Private brands business of ConAgra Foods | Options To Purchase additional shares          
Subsequent Event [Line Items]          
Shares issuable, in relation to the acquisition, shares     1,730,769    
Shares issuable, in relation to the acquisition, price per share     $ 65.00    
v3.3.1.900
Valuation and Qualifying Accounts (Detail) - Allowance for Doubtful Accounts - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Valuation and Qualifying Accounts Disclosure [Line Items]      
Balance Beginning of Year $ 1,333 $ 405 $ 305
Change to Allowance 32 1,023 (98)
Acquisitions   428 255
Write-Offs of Uncollectable Accounts (783) (523) (57)
Recoveries 0 0 0
Balance End of Year $ 582 $ 1,333 $ 405