Reportable Segments

12 Months Ended

Apr. 30, 2012

Reportable Segments [Abstract]

Reportable Segments

NOTE 5 REPORTABLE SEGMENTS

The Company operates in one industry: the manufacturing and marketing of food products. The Company has three reportable segments: U.S. Retail Coffee, U.S. Retail Consumer Foods, and International, Foodservice, and Natural Foods. The U.S. Retail Coffee segment primarily represents the domestic sales of Folgers, Dunkin’ Donuts, Millstone, Café Bustelo, and Café Pilon branded coffee; the U.S. Retail Consumer Foods segment primarily includes domestic sales of Smucker’s, Crisco, Jif, Pillsbury, Eagle Brand, Hungry Jack, and Martha White branded products; and the International, Foodservice, and Natural Foods segment is comprised of products distributed domestically and in foreign countries through retail channels, foodservice distributors and operators (e.g., restaurants, lodging, schools and universities, health care operators), and health and natural foods stores and distributors.

Segment profit represents revenue, less direct and allocable operating expenses, and is consistent with the way in which the Company manages segments. However, the Company does not represent that the segments, if operated independently, would report the segment profit set forth below, as segment profit excludes certain operating expenses such as corporate administrative expenses. Segment assets represent direct and allocable assets, including certain corporate-held assets such as property, plant, and equipment, and are also set forth in the following table.

	Year Ended April 30,
	2012			2011			2010
Net sales:
U.S. Retail Coffee	$	2,297,737		$	1,930,869		$	1,700,458
U.S. Retail Consumer Foods		2,094,456			1,953,043			2,004,700
International, Foodservice, and Natural Foods		1,133,589			941,831			900,131
Total net sales	$	5,525,782		$	4,825,743		$	4,605,289
Segment profit:
U.S. Retail Coffee	$	543,012		$	536,133		$	484,006
U.S. Retail Consumer Foods		393,300			406,455			407,721
International, Foodservice, and Natural Foods		168,572			159,580			140,404
Total segment profit	$	1,104,884		$	1,102,168		$	1,032,131
Interest income		1,504			2,512			2,793
Interest expense		(81,296	)		(69,594	)		(65,187	)
Share-based compensation expense		(19,292	)		(19,896	)		(20,687	)
Cost of products sold – restructuring		(38,552	)		(54,089	)		(3,870	)
Cost of products sold – merger and integration		(4,610	)		—			—
Other restructuring costs		(42,589	)		(47,868	)		(1,841	)
Other merger and integration costs		(29,904	)		(11,194	)		(33,692	)
Corporate administrative expenses		(191,654	)		(184,849	)		(181,132	)
Other income (expense) – net		2,667			(26	)		2,238
Income before income taxes	$	701,158		$	717,164		$	730,753
Assets:
U.S. Retail Coffee	$	5,033,561		$	4,830,127		$	4,625,502
U.S. Retail Consumer Foods		2,612,732			2,416,037			2,327,466
International, Foodservice, and Natural Foods		1,179,624			684,434			694,478
Unallocated (A)		289,309			393,987			327,407
Total assets	$	9,115,226		$	8,324,585		$	7,974,853
Depreciation, amortization, and impairment charges:
U.S. Retail Coffee	$	102,323		$	95,423		$	99,490
U.S. Retail Consumer Foods		46,744			43,280			44,727
International, Foodservice, and Natural Foods		37,698			41,680			28,976
Unallocated (B)		64,821			76,855			24,217
Total depreciation, amortization, and impairment charges	$	251,586		$	257,238		$	197,410
Additions to property, plant, and equipment:
U.S. Retail Coffee	$	86,903		$	59,910		$	52,198
U.S. Retail Consumer Foods		159,544			88,217			58,457
International, Foodservice, and Natural Foods		27,797			31,953			26,328
Total additions to property, plant, and equipment	$	274,244		$	180,080		$	136,983

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

(B) Primarily represents unallocated depreciation expense included in cost of products sold – restructuring, cost of products sold – merger and intergration, and corporate administrative expenses.

The following table presents certain geographical information.

	Year Ended April 30,
	2012		2011		2010
Net sales:
Domestic	$	5,014,695	$	4,358,091	$	4,167,042
International:
Canada	$	447,004	$	409,710	$	385,870
All other international		64,083		57,942		52,377
Total international	$	511,087	$	467,652	$	438,247
Total net sales	$	5,525,782	$	4,825,743	$	4,605,289
Assets:
Domestic	$	8,721,449	$	7,912,311	$	7,591,931
International:
Canada	$	386,026	$	406,576	$	376,788
All other international		7,751		5,698		6,134
Total international	$	393,777	$	412,274	$	382,922
Total assets	$	9,115,226	$	8,324,585	$	7,974,853
Long-lived assets (excluding goodwill and other intangibles):
Domestic	$	1,164,802	$	885,952	$	854,523
International:
Canada	$	28,072	$	48,172	$	61,743
All other international		37,262		706		712
Total international	$	65,334	$	48,878	$	62,455
Total long-lived assets (excluding goodwill and other intangibles)	$	1,230,136	$	934,830	$	916,978

The following table presents product sales information.

	Year Ended April 30,
	2012			2011			2010
Coffee		48	%		44	%		40	%
Peanut butter		12			12			12
Fruit spreads		7			8			8
Shortening and oils		7			7			8
Baking mixes and frostings		6			6			6
Canned milk		5			5			5
Flour and baking ingredients		5			5			5
Portion control		2			3			3
Juices and beverages		2			3			3
Handheld frozen sandwiches		2			2			3
Toppings and syrups		2			2			2
Other		2			3			5
Total product sales		100	%		100	%		100	%