Reportable Segments (Tables)

3 Months Ended

Jul. 31, 2023

The following table reconciles segment profit to income before income taxes.


	Three Months Ended July 31,
		2023		2022
Net sales:
U.S. Retail Coffee		$	625.1	$	597.9
U.S. Retail Consumer Foods		464.0		311.1
U.S. Retail Pet Foods (A)		441.0		729.0
International and Away From Home		275.1		235.0
Total net sales		$	1,805.2	$	1,873.0
Segment profit:
U.S. Retail Coffee		$	170.1	$	145.9
U.S. Retail Consumer Foods		105.7		54.8
U.S. Retail Pet Foods (A)		81.3		120.3
International and Away From Home		36.4		16.6
Total segment profit		$	393.5	$	337.6
Amortization		(39.8)		(55.6)


Gain (loss) on divestitures – net		1.2		1.6
Interest expense – net		(32.1)		(39.1)
Change in net cumulative unallocated derivative gains and losses		10.4		(33.8)
Cost of products sold – special project costs (B)		—		(1.1)
Other special project costs (B)		—		(1.4)
Corporate administrative expenses		(61.8)		(67.6)
Other income (expense) – net		(33.0)		0.5
Income before income taxes		$	238.4	$	141.1

(A)On April 28, 2023, we sold certain pet food brands to Post, and the divested net sales were primarily included in the U.S. Retail Pet Foods segment. For more information, see Note 4: Divestitures.

(B)Special project costs include certain restructuring costs, which were recognized in cost of products sold and other operating expense (income) – net in the Condensed Statement of Consolidated Income during the three months ended July 31, 2022. For more information, see Note 3: Special Project Costs.

Geographical information

The following table presents certain geographical information.


	Three Months Ended July 31,
		2023		2022
Net sales:
United States		$	1,676.4	$	1,759.9
International:
Canada		$	102.3	$	93.8
All other international		26.5		19.3
Total international		$	128.8	$	113.1
Total net sales		$	1,805.2	$	1,873.0

Product category information

The following table presents product category information.


	Three Months Ended July 31,
		2023		2022		Primary Reportable Segment (A)
Coffee		$	709.1	$	679.9	U.S. Retail Coffee
Pet snacks		243.4		244.2		U.S. Retail Pet Foods (C)
Peanut butter		212.0		60.6		U.S. Retail Consumer Foods
Cat food		191.1		265.4		U.S. Retail Pet Foods (C)
Frozen handheld		179.4		160.5		U.S. Retail Consumer Foods
Fruit spreads		106.6		100.1		U.S. Retail Consumer Foods
Portion control		48.6		27.8		Other (D)
Dog food		26.8		241.7		U.S. Retail Pet Foods (B) (C)
Toppings and syrups		24.8		24.4		U.S. Retail Consumer Foods
Baking mixes and ingredients		14.8		16.3		Other (D)
Other		48.6		52.1		Other (D)
Total net sales		$	1,805.2	$	1,873.0

(A)The primary reportable segment generally represents at least 75 percent of total net sales for each respective product category.

(B)During the three months ended July 31, 2022, the net sales within this product category were primarily related to the divested pet food brands, primarily included in the U.S. Retail Pet Foods segment. For more information, see Note 4: Divestitures.

(C)During the three months ended July 31, 2023, a portion of the net sales within this product category relates to sales associated with a contract manufacturing agreement resulting from the divestiture of certain pet food brands, primarily included in the U.S. Retail Pet Foods segment. This portion of net sales will continue throughout the remainder of 2024 and into 2025.

(D)Primarily represents the International and Away From Home operating segments, which are combined for segment reporting purposes.