19. OPERATINg SEgmENT INFORmATION Fifty-two weeks ended  Fifty-two weeks ended December 31, 2011 January 1, 2011 (Amounts in $000s) Canada U.S.   Total Canada  U.S.  Total  Sales within geographic region  $ 295,239  $ 368,058 $ 663,297 $ 283,906 $ 297,213 $ 581,119 Sales outside of geographic region   7,930  17,600  25,530   5,697  9,438  15,135  303,169 385,658 688,827 289,603 306,651 596,254  Intercompany sales outside of geographic region   (7,160)  (13,078)  (20,238)  (5,247)   (6,292)   (11,539) Revenue (excluding intercompany sales)  296,009  372,580 668,589  284,356 300,359 584,715  Cost of sales (excluding intercompany sales)  (228,443)  (288,216)  (516,659) (215,747)  (231,795)  (447,542) Gross profit   67,566  84,364 151,930   68,609 68,564 137,173  Distribution expenses   (14,750)  (20,271)  (35,021)  (13,869)   (16,158)   (30,027) Selling, general and administrative expenses  (31,260)  (40,826)  (72,086)  (33,603)   (34,897)   (68,500) Business acquisition integration (costs) and other expenses   (1,265)  (10,010)  (11,275)   (86)   (789)   (875) Financing costs   (1,837)   (4,146)   (5,983)   (1,337)   (3,828)   (5,165) (Loss) gain from equity accounted investee  (27)   (26)   (53)   9  9  18  Income before income tax   18,427  9,085 27,512 19,723  12,901  32,624 Income taxes   (5,379)   (3,953)   (9,332)  (7,410)   (5,229)   (12,639) Net income $ 13,048 $   5,132 $ 18,180  $ 12,313 $   7,672 $ 19,985  Add back:  Depreciation included in:  Cost of sales  2,315  3,811  6,126   2,315   3,371  5,686  Distribution   180  286  466  179  209  388  Selling, general and administrative expenses   1,147  162  1,309   1,082  145  1,227  Total depreciation   3,642  4,259  7,901   3,576  3,725  7,301  Amortization included in:  Selling, general and administrative expenses   229  1,604 1,833   212  992  1,204  Total depreciation and amortization  3,871  5,863  9,734   3,788  4,717  8,505  Financing costs   1,837  4,146  5,983   1,337  3,828  5,165  Income taxes  5,379  3,953  9,332   7,410  5,229  12,639  Income before depreciation, amortization,  financing and income taxes $ 24,135 $ 19,094 $ 43,229 $ 24,848 $ 21,446 $ 46,294  Capital Expenditures Financed by operations  3,584 3,626 7,210  2,112  2,338  4,450  Financed by finance leases  620  –  620   875  –  875  Total capital expenditures $ 4,204 $  3,626 $   7,830  $ 2,987 $  2,338 $   5,325  Total assets  $ 160,271 $ 530,264 $ 690,535  $ 123,016 $ 205,286 $ 328,302  Goodwill  $ 12,474 $ 114,313 $ 126,787 $ 12,474 $ 27,345 $ 39,819  Liabilities  $ 317,621  $ 211,387 $ 529,008 $ 55,801 $ 125,190 $ 180,991  As at January 3, 2010 Canada U.S.  Total  Total assets $ 142,528 $ 171,263 $ 313,287  Goodwill $  12,474 $ 23,509 $ 35,983  Liabilities $ 51,678 $ 98,409 $ 150,087  The Company operates in one dominant industry segment, the manufacturing and marketing of prepared and packaged frozen  seafood. The Company evaluates performance of the reportable segments on a geographical basis using net income before, financing  and taxes from continuing operations. The Company’s results of its equity accounted investee as disclosed in  note 7  are allocated to  the reportable segments based on purchases. Transfer prices between operating segments are on an arm’s-length basis in a manner  similar to transactions with third parties. Operations and identifiable assets and liabilities by reporting segment are as follows: 88 HIGH lIneR FooDS InCoRpoRAteD