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Reportable Segments (Tables)
 6 Months Ended
Oct. 31, 2025
Segment Reporting [Abstract]  
Segment information
The following tables reconcile segment profit to income before income taxes.
Three Months Ended October 31, 2025
U.S. Retail CoffeeU.S. Retail Frozen Handheld and SpreadsU.S. Retail Pet FoodsSweet Baked SnacksInternational and Away From HomeTotal
Net sales$848.9 $461.1 $413.2 $256.1 $350.8 $2,330.1 
 Segment cost of products sold (A)
602.1 286.4 224.5 190.3 236.9 
 Segment selling and distribution expenses (B)
92.1 71.9 67.8 43.2 38.5 
 Other segment items (C)
0.4 0.7 (3.5)0.8 (1.0)
Segment profit$154.3 $102.1 $124.4 $21.8 $76.4 $479.0 
Reconciliation of segment profit:
Amortization(50.2)
Interest expense – net(98.6)
Change in net cumulative unallocated derivative gains and losses103.0 
Cost of products sold – special project costs (D)
(23.0)
Other special project costs (D)
(5.6)
Corporate administrative expenses(84.7)
Other income (expense) – net (D)
(1.5)
Income before income taxes$318.4 
Six Months Ended October 31, 2025
U.S. Retail CoffeeU.S. Retail Frozen Handheld and SpreadsU.S. Retail Pet FoodsSweet Baked SnacksInternational and Away From HomeTotal
Net sales$1,566.1 $945.8 $781.2 $509.3 $641.0 $4,443.4 
 Segment cost of products sold (A)
1,101.0 585.7 429.3 367.1 427.2 
 Segment selling and distribution expenses (B)
176.1 142.7 134.6 84.4 73.9 
 Other segment items (C)
0.5 1.0 (8.4)1.8 (2.0)
Segment profit$288.5 $216.4 $225.7 $56.0 $141.9 $928.5 
Reconciliation of segment profit:
Amortization(100.4)
Interest expense – net(198.8)
Change in net cumulative unallocated derivative gains and losses(150.1)
Cost of products sold – special project costs (D)
(38.4)
Other special project costs (D)
(11.6)
Corporate administrative expenses(163.9)
Other income (expense) – net (D)
(3.4)
Income before income taxes$261.9 
Three Months Ended October 31, 2024
U.S. Retail CoffeeU.S. Retail Frozen Handheld and SpreadsU.S. Retail Pet FoodsSweet Baked SnacksInternational and Away From HomeTotal
Net sales$704.0 $485.2 $445.4 $315.5 $321.1 $2,271.2 
 Segment cost of products sold (A)
422.8 296.3 257.9 200.6 213.9 
 Segment selling and distribution expenses (B)
78.0 71.9 67.8 43.8 40.9 
 Other segment items (C)
0.5 0.9 (1.7)0.5 (1.7)
Segment profit$202.7 $116.1 $121.4 $70.6 $68.0 $578.8 
Reconciliation of segment profit:
Amortization(55.8)
Gain (loss) on divestitures – net(260.8)
Interest expense – net(98.7)
Change in net cumulative unallocated derivative gains and losses11.7 
Cost of products sold – special project costs (D)
(5.3)
Other special project costs (D)
(10.7)
Corporate administrative expenses(88.2)
Other income (expense) – net (4.2)
Income before income taxes$66.8 
Six Months Ended October 31, 2024
U.S. Retail CoffeeU.S. Retail Frozen Handheld and SpreadsU.S. Retail Pet FoodsSweet Baked SnacksInternational and Away From HomeTotal
Net sales$1,327.4 $982.0 $845.1 $649.2 $592.6 $4,396.3 
 Segment cost of products sold (A)
795.7 603.5 476.6 411.0 397.3 
 Segment selling and distribution expenses (B)
155.8 142.5 137.7 93.4 81.2 
 Other segment items (C)
0.6 0.9 (5.9)(0.2)(2.5)
Segment profit$375.3 $235.1 $236.7 $145.0 $116.6 $1,108.7 
Reconciliation of segment profit:
Amortization(111.8)
Gain (loss) on divestitures – net(260.8)
Interest expense – net(199.1)
Change in net cumulative unallocated derivative gains and losses(18.3)
Cost of products sold – special project costs (D)
(10.6)
Other special project costs (D)
(17.8)
Corporate administrative expenses(170.2)
Other income (expense) – net (7.3)
Income before income taxes$312.8 
(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 9: Derivative Financial Instruments.
(B)    Segment selling and distribution expenses 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.
(D)    Includes special project costs related to certain divestiture, acquisition, integration, and restructuring activities. For more information, see Note 4: Special Project Costs.
The following tables present total assets; total depreciation, amortization, and impairment charges; and total additions to property, plant, and equipment by segment.
October 31, 2025April 30, 2025
Assets:
U.S. Retail Coffee$4,857.5 $4,927.8 
U.S. Retail Frozen Handheld and Spreads3,288.9 3,263.1 
U.S. Retail Pet Foods4,687.2 4,679.3 
Sweet Baked Snacks3,343.9 3,394.9 
International and Away From Home1,238.2 1,037.1 
Unallocated (A)
212.6 261.1 
Total assets$17,628.3 $17,563.3 
Three Months Ended October 31,Six Months Ended October 31,
2025202420252024
Depreciation, amortization, and impairment charges:
U.S. Retail Coffee$24.3 $24.4 $48.7 $48.8 
U.S. Retail Frozen Handheld and Spreads24.9 20.5 50.0 41.1 
U.S. Retail Pet Foods30.6 29.8 60.9 59.8 
Sweet Baked Snacks22.4 29.0 44.3 58.9 
International and Away From Home10.0 8.8 20.2 17.8 
Unallocated (B)
31.1 15.5 54.4 30.6 
Total depreciation, amortization, and impairment charges$143.3 $128.0 $278.5 $257.0 
Additions to property, plant, and equipment:
U.S. Retail Coffee$7.3 $7.2 $18.8 $30.6 
U.S. Retail Frozen Handheld and Spreads18.7 36.7 58.8 85.5 
U.S. Retail Pet Foods10.1 19.9 21.5 44.1 
Sweet Baked Snacks18.8 13.5 29.0 26.7 
International and Away From Home11.4 9.7 22.5 23.8 
Total additions to property, plant, and equipment$66.3 $87.0 $150.6 $210.7 
(A)Primarily represents unallocated cash and cash equivalents and corporate-held investments.
(B)Primarily represents unallocated accelerated depreciation related to restructuring activities and corporate administrative expenses, mainly consisting of depreciation and software amortization.
Geographical information
The following table presents certain geographical information.
Three Months Ended October 31,Six Months Ended October 31,
2025202420252024
Net sales:
United States$2,202.4 $2,136.2 $4,211.8 $4,151.6 
International:
Canada$94.5 $100.7 $165.2 $182.1 
All other international33.2 34.3 66.4 62.6 
Total international$127.7 $135.0 $231.6 $244.7 
Total net sales$2,330.1 $2,271.2 $4,443.4 $4,396.3 
Product category information
The following table presents product category information.
Three Months Ended October 31,Six Months Ended October 31,
2025202420252024
Primary Reportable Segment (A)
Coffee$966.5 $797.0 $1,782.6 $1,508.9 U.S. Retail Coffee
Sweet baked goods256.1 279.2 509.3 575.8 Sweet Baked Snacks
Frozen handheld262.9 246.5 507.0 469.1 U.S. Retail Frozen Handheld and Spreads
Pet snacks232.0 255.2 435.4 482.0 U.S. Retail Pet Foods
Peanut butter187.1 213.8 394.1 432.4 U.S. Retail Frozen Handheld and Spreads
Cat food197.2 200.8 376.5 383.9 U.S. Retail Pet Foods
Fruit spreads92.2 101.7 187.5 208.2 U.S. Retail Frozen Handheld and Spreads
Portion control50.1 56.8 100.5 110.9 
Other (B)
Toppings and syrups26.5 20.3 56.2 48.6 U.S. Retail Frozen Handheld and Spreads
Baking mixes and ingredients28.6 28.9 43.1 43.1 
Other (B)
Cookies— 36.3 — 73.4 Sweet Baked Snacks
Other30.9 34.7 51.2 60.0 
Other (B)
Total net sales$2,330.1 $2,271.2 $4,443.4 $4,396.3 
(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.