Reportable Segments (Tables)

12 Months Ended

Apr. 30, 2025

Segment Reporting [Abstract]

Segment information

The following tables reconcile segment profit to income before income taxes.

	Year Ended April 30, 2025
	U.S. Retail Coffee		U.S. Retail Frozen Handheld and Spreads		U.S. Retail Pet Foods		Sweet Baked Snacks		International and Away From Home		Total
Net sales	$	2,806.6	$	1,877.0	$	1,663.6	$	1,178.8	$	1,200.1	$	8,726.1
Segment cost of products sold (A)	1,709.3		1,167.5		936.0		779.9		797.8
Segment selling and distribution expense (B)	308.4		276.7		281.5		181.8		158.1
Other segment items (C)	(6.2)		7.5		(13.5)		(2.7)		(3.2)
Segment profit	$	795.1	$	425.3	$	459.6	$	219.8	$	247.4	$	2,147.2
Reconciliation of segment profit:
Amortization											(219.3)
Goodwill impairment charges											(1,661.6)
Other intangible assets impairment charges											(320.9)
Gain (loss) on divestitures – net											(310.1)
Interest expense – net											(388.7)
Change in net cumulative unallocated derivative gains and losses											58.2
Cost of products sold – special project costs (D)											(9.1)
Other special project costs (D)											(35.8)
Other debt gains (charges) – net (D)											30.2
Corporate administrative expenses											(322.5)
Other income (expense) – net (D)											(14.4)
Income (loss) before income taxes											$	(1,046.8)

	Year Ended April 30, 2024
	U.S. Retail Coffee		U.S. Retail Frozen Handheld and Spreads		U.S. Retail Pet Foods		Sweet Baked Snacks		International and Away From Home		Total
Net sales	$	2,704.4	$	1,815.6	$	1,822.8	$	637.3	$	1,198.6	$	8,178.7
Segment cost of products sold (A)	1,572.8		1,118.8		1,131.7		410.0		833.8
Segment selling and distribution expense (B)	330.1		261.8		296.7		89.9		158.3
Other segment items (C)	42.3		0.9		(7.7)		(0.8)		(1.6)
Segment profit	$	759.2	$	434.1	$	402.1	$	138.2	$	208.1	$	1,941.7
Reconciliation of segment profit:
Amortization											(191.1)
Gain (loss) on divestitures – net											(12.9)
Interest expense – net											(264.3)
Change in net cumulative unallocated derivative gains and losses											6.7
Cost of products sold – special project costs (D)											(2.9)
Other special project costs (D)											(130.2)
Other debt gains (charges) – net (D)											(19.5)
Corporate administrative expenses											(305.5)
Other income (expense) – net (D)											(25.6)
Income (loss) before income taxes											$	996.4

	Year Ended April 30, 2023
	U.S. Retail Coffee		U.S. Retail Frozen Handheld and Spreads		U.S. Retail Pet Foods (E)		Sweet Baked Snacks		International and Away From Home		Total
Net sales	$	2,735.3	$	1,630.9	$	3,038.1	$	—	$	1,124.9	$	8,529.2
Segment cost of products sold (A)	1,680.4		1,078.1		2,100.8		—		840.3
Segment selling and distribution expense (B)	315.6		217.1		457.1		—		146.9
Other segment items (C)	1.6		(16.9)		(14.7)		—		(5.6)
Segment profit	$	737.7	$	352.6	$	494.9	$	—	$	143.3	$	1,728.5
Reconciliation of segment profit:
Amortization											(206.9)
Gain (loss) on divestitures – net											(1,018.5)
Interest expense – net											(152.0)
Change in net cumulative unallocated derivative gains and losses											(21.4)
Cost of products sold – special project costs (D)											(6.4)
Other special project costs (D)											(4.7)
Corporate administrative expenses											(313.1)
Other income (expense) – net (D)											(14.7)
Income (loss) before income taxes											$	(9.2)

(A)     Segment cost of products sold excludes special project costs related to certain divestiture, acquisition, integration, and restructuring activities and the change in net cumulative unallocated derivative gains and losses. For more information, see Note 4: Special Project Costs and Note 10: Derivative Financial Instruments.

(B)    Segment selling and distribution expense excludes corporate administrative expenses and special project costs that are not allocated to the segments.

(C)    Other segment items primarily reflects the loss (gain) on disposal of assets, plant administrative expenses, equity method investment income, and royalty income. In 2024, the U.S. Retail Coffee segment includes an unfavorable impact related to the termination of a supplier agreement. In 2023, the U.S. Frozen Handheld and Spreads segment includes a favorable impact related to the Jif peanut butter recall.

(D)    Includes special project costs related to certain divestiture, acquisition, integration, and restructuring activities. For more information, see Note 4: Special Project Costs and Note 8: Debt and Financing Arrangements.

(E)     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 3: Divestitures.

The following table presents total assets; total depreciation, amortization, and impairment charges; and total additions to property, plant, and equipment by segment.

	Year Ended April 30,
	2025		2024		2023
Assets:
U.S. Retail Coffee	$	4,927.8	$	4,826.3	$	4,808.9
U.S. Retail Frozen Handheld and Spreads	3,263.1		3,257.1		2,972.7
U.S. Retail Pet Foods	4,679.3		4,784.1		4,994.3
Sweet Baked Snacks	3,394.9		6,267.1		—
International and Away From Home	1,037.1		989.6		978.3
Unallocated (A)	261.1		149.5		1,237.2
Total assets	$	17,563.3	$	20,273.7	$	14,991.4
Depreciation, amortization, and impairment charges:
U.S. Retail Coffee	$	97.9	$	101.1	$	101.6
U.S. Retail Frozen Handheld and Spreads	90.8		81.6		76.3
U.S. Retail Pet Foods	121.3		118.1		178.7
Sweet Baked Snacks (B)	2,092.0		59.6		—
International and Away From Home	37.4		32.4		31.7
Unallocated (C)	45.6		38.0		42.7
Total depreciation, amortization, and impairment charges	$	2,485.0	$	430.8	$	431.0
Additions to property, plant, and equipment:
U.S. Retail Coffee	$	62.7	$	79.7	$	49.0
U.S. Retail Frozen Handheld and Spreads	157.6		334.5		341.6
U.S. Retail Pet Foods	83.2		83.4		64.3
Sweet Baked Snacks	43.0		41.2		—
International and Away From Home	47.3		47.7		22.5
Total additions to property, plant, and equipment	$	393.8	$	586.5	$	477.4

(A)Primarily represents unallocated cash and cash equivalents and corporate-held investments.

(B)During 2025, we recognized pre-tax impairment charges of $1,661.6 and $320.9 related to the goodwill of the Sweet Baked Snacks reporting unit and Hostess brand indefinite-lived trademark, respectively. For more information, see Note 7: Goodwill and Other Intangible Assets.

(C)Primarily represents unallocated corporate administrative expenses, mainly consisting of depreciation and software amortization.

Geographical information

The following table presents certain geographical information.

	Year Ended April 30,
	2025		2024		2023
Net sales:
United States	$	8,245.7	$	7,653.0	$	8,001.4
International:
Canada	$	352.4	$	429.4	$	433.2
All other international	128.0		96.3		94.6
Total international	$	480.4	$	525.7	$	527.8
Total net sales	$	8,726.1	$	8,178.7	$	8,529.2
Assets:
United States	$	17,190.0	$	19,483.1	$	14,577.5
International:
Canada	$	373.0	$	790.2	$	412.5
All other international	0.3		0.4		1.4
Total international	$	373.3	$	790.6	$	413.9
Total assets	$	17,563.3	$	20,273.7	$	14,991.4
Long-lived assets (excluding goodwill and other intangible assets):
United States	$	3,308.4	$	3,294.5	$	2,421.9
International:
Canada	$	51.3	$	106.9	$	64.6
All other international	0.1		0.1		—
Total international	$	51.4	$	107.0	$	64.6
Total long-lived assets (excluding goodwill and other intangible assets)	$	3,359.8	$	3,401.5	$	2,486.5

Product category information

The following table presents product category information.

	Year Ended April 30,
	2025		2024		2023		Primary Reportable Segment (A)
Coffee	$	3,173.8	$	3,063.0	$	3,088.8	U.S. Retail Coffee
Sweet Baked Goods	1,093.0		572.5		—		Sweet Baked Snacks
Pet snacks	944.7		1,024.8		1,052.4		U.S. Retail Pet Foods
Frozen handheld	918.2		791.1		686.4		U.S. Retail Frozen Handheld and Spreads
Peanut butter	827.8		814.1		635.6		U.S. Retail Frozen Handheld and Spreads
Cat food	763.5		792.4		1,101.1		U.S. Retail Pet Foods
Fruit spreads	400.8		427.2		426.2		U.S. Retail Frozen Handheld and Spreads
Portion control	211.9		207.9		163.7		Other (B)
Toppings and syrups	96.8		88.4		88.9		U.S. Retail Frozen Handheld and Spreads
Baking mixes and ingredients	88.1		90.3		94.3		Other (B)
Cookies	86.3		64.8		—		Sweet Baked Snacks
Dog food	24.4		76.4		980.0		U.S. Retail Pet Foods
Other	96.8		165.8		211.8		Other (B)
Total net sales	$	8,726.1	$	8,178.7	$	8,529.2

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

(B)Represents the combined International and Away From Home operating segments.