REPORTABLE SEGMENTS (Notes)

3 Months Ended

Mar. 30, 2024

Segment Reporting [Abstract]

Reportable Segments

REPORTABLE SEGMENTS

Kellanova is a leading producer of snacks, cereal, and frozen foods. It is the second largest producer of crackers, and a leading producer of savory snacks and cereal. Additional product offerings include toaster pastries, cereal bars, veggie foods and noodles. Kellanova products are manufactured and marketed globally. Principal markets for these products include the United States, United Kingdom, Nigeria, Canada, Mexico, and Australia.

The Company manages its operations through four operating segments that are based on geographic location – North America which includes U.S. businesses and Canada; Europe which consists of European countries; Latin America which consists of Central and South America and includes Mexico; and AMEA (Asia Middle East Africa) which consists of Africa, Middle East, Australia and other Asian and Pacific markets. These operating segments also represent our reportable segments.

Corporate includes corporate administration and initiatives as well as share-based compensation.

The measurement of reportable segment results is based on segment operating profit which is generally consistent with the presentation of operating profit in the Consolidated Statement of Income. Reportable segment results were as follows:

	Quarter ended
(millions)	March 30, 2024		April 1, 2023
Net sales
North America	$	1,688	$	1,686
Europe	599		604
Latin America	314		283
AMEA	600		770
Total Reportable Segments	3,201		3,343
Corporate	(1)		(1)
Consolidated	$	3,200	$	3,342
Operating profit
North America	$	335	$	269
Europe	28		92
Latin America	27		22
AMEA	75		74
Total Reportable Segments	465		457
Corporate	(72)		(111)
Consolidated	$	393	$	346

Supplemental product information is provided below for net sales to external customers:

	Quarter ended
(millions)	March 30, 2024		April 1, 2023
Snacks	$	2,015	$	2,022
Cereal	687		679
Frozen	290		292
Noodles and other	208		349
Consolidated	$	3,200	$	3,342