Guarantor and Non-Guarantor Financial Information (Tables)

3 Months Ended

Jul. 31, 2013

Guarantor and Non - Guarantor Financial Information [Abstract]

CONDENSED STATEMENTS OF CONSOLIDATED INCOME AND COMPREHENSIVE INCOME

	Three Months Ended July 31, 2013
	The J.M. Smucker Company (Parent)		Subsidiary Guarantors		Non-Guarantor Subsidiaries		Eliminations		Consolidated
Net sales	$	736.0	$	303.4	$	1,593.4	$	(1,281.9)	$	1,350.9
Cost of products sold		600.4		277.4		1,257.9		(1,277.7)		858.0
Gross Profit		135.6		26.0		335.5		(4.2)		492.9
Selling, distribution, and administrative expenses, restructuring, and merger and integration costs		48.6		10.9		196.5		—		256.0
Amortization		1.1		—		23.4		—		24.5
Other operating (income) expense—net		(1.5)		(0.2)		0.8		—		(0.9)
Operating Income		87.4		15.3		114.8		(4.2)		213.3
Interest (expense) income—net		(24.0)		0.3		(0.1)		—		(23.8)
Other income (expense)—net		—		0.1		(0.1)		—		—
Equity in net earnings of subsidiaries		82.6		32.9		15.4		(130.9)		—
Income Before Income Taxes		146.0		48.6		130.0		(135.1)		189.5
Income taxes		19.4		0.1		43.4		—		62.9
Net Income	$	126.6	$	48.5	$	86.6	$	(135.1)	$	126.6
Other comprehensive (loss) income, net of tax		(2.7)		1.9		(3.9)		2.0		(2.7)
Comprehensive Income	$	123.9	$	50.4	$	82.7	$	(133.1)	$	123.9
CONDENSED STATEMENTS OF CONSOLIDATED INCOME AND COMPREHENSIVE INCOME
	Three Months Ended July 31, 2012
	The J.M. Smucker Company (Parent)		Subsidiary Guarantors		Non-Guarantor Subsidiaries		Eliminations		Consolidated
Net sales	$	702.5	$	318.2	$	1,309.2	$	(960.2)	$	1,369.7
Cost of products sold		593.0		290.8		973.6		(957.5)		899.9
Gross Profit		109.5		27.4		335.6		(2.7)		469.8
Selling, distribution, and administrative expenses, restructuring, merger and integration, and other special project costs		56.9		11.9		187.3		—		256.1
Amortization		2.9		—		21.3		—		24.2
Other operating (income) expense—net		(0.7)		(0.5)		0.2		—		(1.0)
Operating Income		50.4		16.0		126.8		(2.7)		190.5
Interest (expense) income—net		(23.8)		0.3		(0.1)		—		(23.6)
Other income (expense)—net		4.5		0.5		(4.6)		—		0.4
Equity in net earnings of subsidiaries		89.3		33.2		16.5		(139.0)		—
Income Before Income Taxes		120.4		50.0		138.6		(141.7)		167.3
Income taxes		9.5		0.1		46.8		—		56.4
Net Income	$	110.9	$	49.9	$	91.8	$	(141.7)	$	110.9
Other comprehensive (loss) income, net of tax		(0.4)		2.3		(2.5)		0.2		(0.4)
Comprehensive Income	$	110.5	$	52.2	$	89.3	$	(141.5)	$	110.5

CONDENSED CONSOLIDATED BALANCE SHEETS

CONDENSED CONSOLIDATED BALANCE SHEETS
	July 31, 2013
	The J.M. Smucker Company (Parent)		Subsidiary Guarantors		Non-Guarantor Subsidiaries		Eliminations		Consolidated
ASSETS
Current Assets
Cash and cash equivalents	$	21.0	$	—	$	136.5	$	—	$	157.5
Inventories		—		240.5		823.0		(4.2)		1,059.3
Other current assets		351.2		4.2		57.7		—		413.1
Total Current Assets		372.2		244.7		1,017.2		(4.2)		1,629.9
Property, Plant, and Equipment—Net		228.2		451.3		459.7		—		1,139.2
Investments in Subsidiaries		8,034.9		3,907.6		162.3		(12,104.8)		—
Intercompany		(2,516.5)		297.4		929.6		1,289.5		—
Other Noncurrent Assets
Goodwill		1,082.0		—		1,969.3		—		3,051.3
Other intangible assets—net		508.7		—		2,555.3		—		3,064.0
Other noncurrent assets		64.7		13.4		71.4		—		149.5
Total Other Noncurrent Assets		1,655.4		13.4		4,596.0		—		6,264.8
Total Assets	$	7,774.2	$	4,914.4	$	7,164.8	$	(10,819.5)	$	9,033.9
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current Liabilities	$	513.6	$	99.4	$	190.1	$	—	$	803.1
Noncurrent Liabilities
Long-term debt		1,867.1		—		—		—		1,867.1
Deferred income taxes		89.1		—		890.7		—		979.8
Other noncurrent liabilities		229.3		18.1		61.4		—		308.8
Total Noncurrent Liabilities		2,185.5		18.1		952.1		—		3,155.7
Total Liabilities		2,699.1		117.5		1,142.2		—		3,958.8
Total Shareholders’ Equity		5,075.1		4,796.9		6,022.6		(10,819.5)		5,075.1
Total Liabilities and Shareholders’ Equity	$	7,774.2	$	4,914.4	$	7,164.8	$	(10,819.5)	$	9,033.9
CONDENSED CONSOLIDATED BALANCE SHEETS
	April 30, 2013
	The J.M. Smucker Company (Parent)		Subsidiary Guarantors		Non-Guarantor Subsidiaries		Eliminations		Consolidated
ASSETS
Current Assets
Cash and cash equivalents	$	108.0	$	—	$	148.4	$	—	S	256.4
Inventories		—		225.9		733.2		(13.6)		945.5
Other current assets		320.4		3.3		69.6		—		393.3
Total Current Assets		428.4		229.2		951.2		(13.6)		1,595.2
Property, Plant, and Equipment—Net		230.9		445.1		466.5		—		1,142.5
Investments in Subsidiaries		7,950.9		3,856.6		146.6		(11,954.1)		—
Intercompany		(2,504.5)		324.8		941.3		1,238.4		—
Other Noncurrent Assets
Goodwill		1,082.0		—		1,970.9		—		3,052.9
Other intangible assets—net		509.8		—		2,579.6		—		3,089.4
Other noncurrent assets		72.0		13.7		66.1		—		151.8
Total Other Noncurrent Assets		1,663.8		13.7		4,616.6		—		6,294.1
Total Assets	$	7,769.5	$	4,869.4	$	7,122.2	$	(10,729.3)	$	9,031.8
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current Liabilities	$	317.8	$	104.9	$	174.1	$	—	$	596.8
Noncurrent Liabilities
Long-term debt		1,967.8		—		—		—		1,967.8
Deferred income taxes		97.5		—		889.7		—		987.2
Other noncurrent liabilities		237.6		18.1		75.5		—		331.2
Total Noncurrent Liabilities		2,302.9		18.1		965.2		—		3,286.2
Total Liabilities		2,620.7		123.0		1,139.3		—		3,883.0
Total Shareholders’ Equity		5,148.8		4,746.4		5,982.9		(10,729.3)		5,148.8
Total Liabilities and Shareholders’ Equity	$	7,769.5	$	4,869.4	$	7,122.2	$	(10,729.3)	$	9,031.8

CONDENSED STATEMENTS OF CONSOLIDATED CASH FLOWS

CONDENSED STATEMENTS OF CONSOLIDATED CASH FLOWS
	Three Months Ended July 31, 2013
	The J.M. Smucker Company (Parent)		Subsidiary Guarantors		Non-Guarantor Subsidiaries		Eliminations		Consolidated
Net Cash Provided by Operating Activities	$	37.3	$	10.2	$	34.6	$	—	$	82.1
Investing Activities
Additions to property, plant, and equipment		(4.0)		(19.5)		(12.8)		—		(36.3)
Proceeds from disposal of property, plant, and equipment		—		0.3		0.8		—		1.1
Other—net		(3.1)		(0.3)		(3.7)		—		(7.1)
Net Cash Used for Investing Activities		(7.1)		(19.5)		(15.7)		—		(42.3)
Financing Activities
Revolving credit facility—net		85.0		—		—		—		85.0
Quarterly dividends paid		(55.4)		—		—		—		(55.4)
Purchase of treasury shares		(165.4)		—		—		—		(165.4)
Proceeds from stock option exercises		0.1		—		—		—		0.1
Investments in subsidiaries		(1.4)		(18.1)		19.5		—		—
Intercompany		12.0		27.4		(39.4)		—		—
Other—net		7.9		—		(7.8)		—		0.1
Net Cash (Used for) Provided by Financing Activities		(117.2)		9.3		(27.7)		—		(135.6)
Effect of exchange rate changes on cash		—		—		(3.1)		—		(3.1)
Net decrease in cash and cash equivalents		(87.0)		—		(11.9)		—		(98.9)
Cash and cash equivalents at beginning of period		108.0		—		148.4		—		256.4
Cash and Cash Equivalents at End of Period	$	21.0	$	—	$	136.5	$	—	$	157.5
CONDENSED STATEMENTS OF CONSOLIDATED CASH FLOWS
	Three Months Ended July 31, 2012
	The J.M. Smucker Company (Parent)		Subsidiary Guarantors		Non-Guarantor Subsidiaries		Eliminations		Consolidated
Net Cash Provided by Operating Activities	$	32.0	$	17.0	$	127.7	$	—	$	176.7
Investing Activities
Additions to property, plant, and equipment		(8.0)		(23.2)		(15.1)		—		(46.3)
Proceeds from disposal of property, plant, and equipment		—		—		0.3		—		0.3
Other—net		(9.5)		3.1		24.1		—		17.7
Net Cash (Used for) Provided by Investing Activities		(17.5)		(20.1)		9.3		—		(28.3)
Financing Activities
Quarterly dividends paid		(52.8)		—		—		—		(52.8)
Purchase of treasury shares		(4.2)		—		—		—		(4.2)
Proceeds from stock option exercises		0.2		—		—		—		0.2
Investments in subsidiaries		(47.2)		(166.4)		213.6		—		—
Intercompany		174.8		169.5		(344.3)		—		—
Other—net		2.2		—		(10.0)		—		(7.8)
Net Cash Provided by (Used for) Financing Activities		73.0		3.1		(140.7)		—		(64.6)
Effect of exchange rate changes		—		—		(2.0)		—		(2.0)
Net increase (decrease) in cash and cash equivalents		87.5		—		(5.7)		—		81.8
Cash and cash equivalents at beginning of period		108.3		—		121.4		—		229.7
Cash and Cash Equivalents at End of Period	$	195.8	$	—	$	115.7	$	—	$	311.5