HAWKINS INCHWKN
HAWKINS INC Segments Disclosure
Segment Information
* Unallocated assets not included, consisting primarily of cash and cash equivalents, prepaid expenses, and non-qualified deferred compensation plan assets of $29.3 million at March 29, 2026, $30.3 million at March 30, 2025 and $28.2 million at March 31, 2024
Effective beginning with the first fiscal quarter of fiscal 2026, we realigned our reporting segments to reflect organizational changes made and to reflect the way we manage our operations and allocate resources. We believe this realignment better reflects the value our company provides to our customers and our evolution from a bulk commodity distributor into a specialty ingredients company. Segment information for fiscal 2025 and fiscal 2024 has been recast to reflect the Company's current reportable segments after realignment. We organize and manage our business by the following three segments, which meet the definition of reportable segments under ASC 280-10, Segment Reporting: Water Treatment, Food and Health Sciences, and Industrial Solutions. These segments are defined primarily by product and type of customer.
•Water Treatment Segment. Our Water Treatment Group specializes in providing chemicals, filtration media and systems, equipment, services and solutions for potable water, municipal and industrial wastewater, industrial process water, mainly non-residential swimming pool water and agricultural water. This group has the resources and flexibility to treat systems ranging in size from a single small well to a multi-million-gallon-per-day facility.
•Food and Health Sciences Segment. Our Food and Health Sciences Group specializes in processing and formulation solutions as well as ingredient distribution to manufacturers in the nutrition, food, pharmaceutical, and agricultural markets. This group offers a diverse product portfolio including base chemistry, acid based reactions, minerals, vitamins and amino acids, excipients, botanicals and herbs, sweeteners and enzymes, fertilizers, and food-grade and pharmaceutical salts and ingredients.
•Industrial Solutions Segment. Our Industrial Solutions Group specializes in providing industrial chemicals, products and services to industries such as industrial manufacturing, chemical processing, electronics, energy, plating, and surface finishing. This group’s principal products are acids and alkalis. This segment receives, stores and distributes various chemicals in bulk quantities, including liquid caustic soda, sulfuric acid, hydrochloric acid, urea, phosphoric acid, aqua ammonia and potassium hydroxide. They perform customer blending of chemicals according to customer formulas and specifications and repackage bulk industrial chemicals to sell in smaller quantities to our customers. The Industrial Solutions group relies on a specially trained sales staff that works directly with customer on their specific needs. This segment conducts its business primarily through manufacturing locations and terminal operations.
Our chief operating decision-maker (CODM), who is our President and Chief Executive Officer, regularly reviews the consolidated financial statements in their entirety and financial information at the reportable segment level. The CODM uses segment operating income and considers budget-to-actual variances on a quarterly basis when making decisions about the allocation of operating and capital resources to each segment. The CODM also uses segment operating income for evaluating pricing strategy, to assess the performance of each segment by comparing the results of each segment with one another, and in determining the compensation of certain employees. The CODM has ultimate responsibility for enterprise decisions and making resource allocation decisions for the Company and the segments.
The accounting policies of the segments are the same as those described in the summary of significant accounting policies.
Product costs and expenses for each segment are based on actual costs incurred along with cost allocations of shared and centralized functions. Raw materials are transferred between segments at material cost, capitalized freight, and capitalized internal production and warehousing costs, with the offset settled in a balance sheet clearing account. Capitalized freight and capitalized internal production and warehousing costs are calculated and applied to inventory on an item level basis using per unit estimates that are based on historical costs or a time and effort measures as appropriate. We do not record intersegment sales, and no operating segments have been aggregated.
In fiscal 2026, 2025 and 2024, none of our customers accounted for 10% or more of our total sales.
Substantially all of the Company's revenue is derived from customers located in the United States and all of the Company's long-lived assets are located within the United States.
Summarized financial information for the Company’s reportable segments is presented and reconciled to consolidated financial statements in the following tables:
| Reportable Segments | Water Treatment | Food and Health Sciences | Industrial Solutions | Total | |||||||||||||||||||
| (In thousands) | |||||||||||||||||||||||
| Fiscal Year Ended March 29, 2026: | |||||||||||||||||||||||
| Sales | $ | 543,303 | $ | 320,700 | $ | 219,693 | $ | 1,083,696 | |||||||||||||||
| Cost of sales - materials | ( | 327,821 | ) | ( | 233,960 | ) | ( | 174,415 | ) | ||||||||||||||
| Cost of sales - operational overhead | ( | 70,529 | ) | ( | 19,408 | ) | ( | 12,508 | ) | ||||||||||||||
| Selling, general, and administrative expenses | ( | 76,865 | ) | ( | 32,981 | ) | ( | 13,916 | ) | ||||||||||||||
| Operating income | $ | 68,088 | $ | 34,351 | $ | 18,854 | $ | 121,293 | |||||||||||||||
| Interest expense, net | (13,507) | ||||||||||||||||||||||
| Other income | 1,554 | ||||||||||||||||||||||
| Income tax expense | (27,792) | ||||||||||||||||||||||
| Net income | $ | 81,548 | |||||||||||||||||||||
| Identifiable assets* | $ | 561,554 | $ | 258,186 | $ | 137,280 | $ | 957,020 | |||||||||||||||
| Capital expenditures | $ | 29,790 | $ | 13,490 | $ | 14,959 | $ | 58,239 | |||||||||||||||
| Depreciation and amortization | $ | 30,788 | $ | 12,896 | $ | 8,858 | $ | 52,542 | |||||||||||||||
| Fiscal Year Ended March 30, 2025: | |||||||||||||||||||||||
| Sales | $ | 446,489 | $ | 322,560 | $ | 205,382 | $ | 974,431 | |||||||||||||||
| Cost of sales - materials | ( | 259,722 | ) | ( | 231,621 | ) | ( | 160,199 | ) | ||||||||||||||
| Cost of sales - operational overhead | ( | 64,934 | ) | ( | 19,021 | ) | ( | 13,396 | ) | ||||||||||||||
| Selling, general, and administrative expenses | ( | 62,287 | ) | ( | 30,720 | ) | ( | 13,357 | ) | ||||||||||||||
| Operating income | $ | 59,546 | $ | 41,198 | $ | 18,430 | $ | 119,174 | |||||||||||||||
| Interest expense, net | (5,432) | ||||||||||||||||||||||
| Other income | 641 | ||||||||||||||||||||||
| Income tax expense | (30,038) | ||||||||||||||||||||||
| Net income | $ | 84,345 | |||||||||||||||||||||
| Identifiable assets* | $ | 356,994 | $ | 252,088 | $ | 130,490 | $ | 739,572 | |||||||||||||||
| Capital expenditures | $ | 20,258 | $ | 9,812 | $ | 11,026 | $ | 41,096 | |||||||||||||||
| Depreciation and amortization | $ | 18,953 | $ | 12,510 | $ | 8,485 | $ | 39,948 | |||||||||||||||
| Reportable Segments | Water Treatment | Food and Health Sciences | Industrial Solutions | Total | |||||||||||||||||||
| Fiscal Year Ended March 31, 2024: | |||||||||||||||||||||||
| Sales | $ | 363,289 | $ | 334,560 | $ | 221,313 | $ | 919,162 | |||||||||||||||
| Cost of sales - materials | ( | 214,020 | ) | ( | 245,207 | ) | ( | 176,327 | ) | ||||||||||||||
| Cost of sales - operational overhead | ( | 50,218 | ) | ( | 21,471 | ) | ( | 18,283 | ) | ||||||||||||||
| Selling, general, and administrative expenses | ( | 46,165 | ) | ( | 29,230 | ) | ( | 14,205 | ) | ||||||||||||||
| Operating income | $ | 52,886 | $ | 38,652 | $ | 12,498 | $ | 104,036 | |||||||||||||||
| Interest expense, net | (4,282) | ||||||||||||||||||||||
| Other income | 1,391 | ||||||||||||||||||||||
| Income tax expense | (25,782) | ||||||||||||||||||||||
| Net income | $ | 75,363 | |||||||||||||||||||||
| Identifiable assets* | $ | 257,898 | $ | 237,097 | $ | 134,694 | $ | 629,689 | |||||||||||||||
| Capital expenditures | $ | 14,975 | $ | 11,113 | $ | 14,063 | $ | 40,151 | |||||||||||||||
| Depreciation and amortization | $ | 12,385 | $ | 11,473 | $ | 7,945 | $ | 31,803 | |||||||||||||||
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Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2026 | May 13, 2026 | Showing above |
| 2025 | May 14, 2025 | |
| 2024 | May 15, 2024 | |
| 2023 | May 17, 2023 | |
| 2022 | May 18, 2022 | |
| 2021 | Jun 2, 2021 | |
| 2020 | May 20, 2020 | |
| 2019 | May 23, 2019 | |
| 2018 | May 31, 2018 | |
| 2017 | Jun 1, 2017 | |
| 2016 | Jun 3, 2016 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.