Guarantor and Non-Guarantor Financial Information (Tables)

6 Months Ended

Oct. 31, 2013

Guarantor and Non - Guarantor Financial Information [Abstract]

CONDENSED STATEMENTS OF CONSOLIDATED INCOME AND COMPREHENSIVE INCOME

CONDENSED STATEMENTS OF CONSOLIDATED INCOME AND COMPREHENSIVE INCOME

	Three Months Ended October 31, 2013
	The J.M. Smucker Company (Parent)		Subsidiary Guarantors		Non-Guarantor Subsidiaries		Eliminations		Consolidated
Net sales	$	852.6	$	377.5	$	1,855.2	$	(1,525.4)	$	1,559.9
Cost of products sold		692.6		345.8		1,487.0		(1,518.1)		1,007.3
Gross Profit		160.0		31.7		368.2		(7.3)		552.6
Selling, distribution, and administrative expenses, restructuring, and merger and integration costs		55.4		12.4		209.4		—		277.2
Amortization		1.0		—		23.7		—		24.7
Other operating (income) expense—net		0.1		0.3		(0.5)		—		(0.1)
Operating Income		103.5		19.0		135.6		(7.3)		250.8
Interest (expense) income—net		(20.4)		0.3		(0.4)		—		(20.5)
Other expense—net		—		(0.3)		—		—		(0.3)
Equity in net earnings of subsidiaries		95.5		39.3		18.7		(153.5)		—
Income Before Income Taxes		178.6		58.3		153.9		(160.8)		230.0
Income taxes		25.2		0.1		51.3		—		76.6
Net Income	$	153.4	$	58.2	$	102.6	$	(160.8)	$	153.4
Other comprehensive (loss) income, net of tax		(3.7)		3.2		(4.6)		1.4		(3.7)
Comprehensive Income	$	149.7	$	61.4	$	98.0	$	(159.4)	$	149.7
CONDENSED STATEMENTS OF CONSOLIDATED INCOME AND COMPREHENSIVE INCOME
	Three Months Ended October 31, 2012
	The J.M. Smucker Company (Parent)		Subsidiary Guarantors		Non-Guarantor Subsidiaries		Eliminations		Consolidated
Net sales	$	834.5	$	358.2	$	1,537.8	$	(1,101.8)	$	1,628.7
Cost of products sold		694.2		330.1		1,164.7		(1,102.2)		1,086.8
Gross Profit		140.3		28.1		373.1		0.4		541.9
Selling, distribution, and administrative expenses, restructuring, and merger and integration costs		59.1		10.8		198.8		—		268.7
Amortization		3.0		—		21.2		—		24.2
Other operating (income) expense—net		—		(0.8)		2.2		—		1.4
Operating Income		78.2		18.1		150.9		0.4		247.6
Interest (expense) income—net		(24.1)		0.3		(0.1)		—		(23.9)
Other income (expense)—net		5.0		0.2		(4.7)		—		0.5
Equity in net earnings of subsidiaries		109.8		40.2		18.2		(168.2)		—
Income Before Income Taxes		168.9		58.8		164.3		(167.8)		224.2
Income taxes		20.1		0.1		55.2		—		75.4
Net Income	$	148.8	$	58.7	$	109.1	$	(167.8)	$	148.8
Other comprehensive income (loss), net of tax		4.2		(0.7)		2.1		(1.4)		4.2
Comprehensive Income	$	153.0	$	58.0	$	111.2	$	(169.2)	$	153.0
CONDENSED STATEMENTS OF CONSOLIDATED INCOME AND COMPREHENSIVE INCOME
	Six Months Ended October 31, 2013
	The J.M. Smucker Company (Parent)		Subsidiary Guarantors		Non-Guarantor Subsidiaries		Eliminations		Consolidated
Net sales	$	1,588.6	$	680.9	$	3,448.6	$	(2,807.3)	$	2,910.8
Cost of products sold		1,293.0		623.2		2,744.9		(2,795.8)		1,865.3
Gross Profit		295.6		57.7		703.7		(11.5)		1,045.5
Selling, distribution, and administrative expenses, restructuring, and merger and integration costs		104.0		23.3		405.9		—		533.2
Amortization		2.1		—		47.1		—		49.2
Other operating (income) expense—net		(1.4)		0.1		0.3		—		(1.0)
Operating Income		190.9		34.3		250.4		(11.5)		464.1
Interest (expense) income—net		(44.4)		0.6		(0.5)		—		(44.3)
Other expense—net		—		(0.2)		(0.1)		—		(0.3)
Equity in net earnings of subsidiaries		178.1		72.2		34.1		(284.4)		—
Income Before Income Taxes		324.6		106.9		283.9		(295.9)		419.5
Income taxes		44.6		0.2		94.7		—		139.5
Net Income	$	280.0	$	106.7	$	189.2	$	(295.9)	$	280.0
Other comprehensive (loss) income, net of tax		(6.4)		5.1		(8.5)		3.4		(6.4)
Comprehensive Income	$	273.6	$	111.8	$	180.7	$	(292.5)	$	273.6

CONDENSED STATEMENTS OF CONSOLIDATED INCOME AND COMPREHENSIVE INCOME
	Six Months Ended October 31, 2012
	The J.M. Smucker Company (Parent)		Subsidiary Guarantors		Non-Guarantor Subsidiaries		Eliminations		Consolidated
Net sales	$	1,537.0	$	676.4	$	2,847.0	$	(2,062.0)	$	2,998.4
Cost of products sold		1,287.2		620.9		2,138.3		(2,059.7)		1,986.7
Gross Profit		249.8		55.5		708.7		(2.3)		1,011.7
Selling, distribution, and administrative expenses, restructuring, merger and integration, and other special project costs		116.0		22.7		386.1		—		524.8
Amortization		5.9		—		42.5		—		48.4
Other operating (income) expense—net		(0.7)		(1.3)		2.4		—		0.4
Operating Income		128.6		34.1		277.7		(2.3)		438.1
Interest (expense) income—net		(47.9)		0.6		(0.2)		—		(47.5)
Other income (expense)—net		9.5		0.7		(9.3)		—		0.9
Equity in net earnings of subsidiaries		199.1		73.4		34.7		(307.2)		—
Income Before Income Taxes		289.3		108.8		302.9		(309.5)		391.5
Income taxes		29.6		0.2		102.0		—		131.8
Net Income	$	259.7	$	108.6	$	200.9	$	(309.5)	$	259.7
Other comprehensive income (loss), net of tax		3.8		1.6		(0.4)		(1.2)		3.8
Comprehensive Income	$	263.5	$	110.2	$	200.5	$	(310.7)	$	263.5

CONDENSED CONSOLIDATED BALANCE SHEETS

CONDENSED CONSOLIDATED BALANCE SHEETS

	October 31, 2013
	The J.M. Smucker Company (Parent)		Subsidiary Guarantors		Non-Guarantor Subsidiaries		Eliminations		Consolidated
ASSETS
Current Assets
Cash and cash equivalents	$	5.5	$	—	$	145.0	$	—	$	150.5
Inventories		—		224.2		811.0		(11.5)		1,023.7
Other current assets		466.6		4.9		116.6		—		588.1
Total Current Assets		472.1		229.1		1,072.6		(11.5)		1,762.3
Property, Plant, and Equipment—Net		228.8		462.7		471.7		—		1,163.2
Investments in Subsidiaries		8,286.8		4,013.4		181.6		(12,481.8)		—
Intercompany		(2,668.9)		265.1		918.3		1,485.5		—
Other Noncurrent Assets
Goodwill		1,082.0		—		2,018.7		—		3,100.7
Other intangible assets—net		507.7		—		2,568.5		—		3,076.2
Other noncurrent assets		69.1		12.7		61.8		—		143.6
Total Other Noncurrent Assets		1,658.8		12.7		4,649.0		—		6,320.5
Total Assets	$	7,977.6	$	4,983.0	$	7,293.2	$	(11,007.8)	$	9,246.0
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current Liabilities	$	602.3	$	102.4	$	191.3	$	—	$	896.0
Noncurrent Liabilities
Long-term debt		1,883.6		—		—		—		1,883.6
Deferred income taxes		90.2		—		909.6		—		999.8
Other noncurrent liabilities		233.6		18.2		46.9		—		298.7
Total Noncurrent Liabilities		2,207.4		18.2		956.5		—		3,182.1
Total Liabilities		2,809.7		120.6		1,147.8		—		4,078.1
Total Shareholders’ Equity		5,167.9		4,862.4		6,145.4		(11,007.8)		5,167.9
Total Liabilities and Shareholders’ Equity	$	7,977.6	$	4,983.0	$	7,293.2	$	(11,007.8)	$	9,246.0
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	$	—	$	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
	Six Months Ended October 31, 2013
	The J.M. Smucker Company (Parent)		Subsidiary Guarantors		Non-Guarantor Subsidiaries		Eliminations		Consolidated
Net Cash (Used for) Provided by Operating Activities	$	(25.8)	$	66.0	$	127.8	$	—	$	168.0
Investing Activities
Businesses acquired, net of cash acquired		—		—		(102.0)		—		(102.0)
Additions to property, plant, and equipment		(12.0)		(45.5)		(25.9)		—		(83.4)
Proceeds from disposal of property, plant, and equipment		—		0.4		1.0		—		1.4
Other—net		(3.1)		(0.3)		(5.5)		—		(8.9)
Net Cash Used for Investing Activities		(15.1)		(45.4)		(132.4)		—		(192.9)
Financing Activities
Revolving credit facility—net		207.0		—		—		—		207.0
Quarterly dividends paid		(116.4)		—		—		—		(116.4)
Purchase of treasury shares		(165.5)		—		—		—		(165.5)
Proceeds from stock option exercises		0.3		—		—		—		0.3
Investments in subsidiaries		(157.8)		(80.3)		238.1		—		—
Intercompany		164.4		59.7		(224.1)		—		—
Other—net		6.4		—		(7.7)		—		(1.3)
Net Cash (Used for) Provided by Financing Activities		(61.6)		(20.6)		6.3		—		(75.9)
Effect of exchange rate changes on cash		—		—		(5.1)		—		(5.1)
Net decrease in cash and cash equivalents		(102.5)		—		(3.4)		—		(105.9)
Cash and cash equivalents at beginning of period		108.0		—		148.4		—		256.4
Cash and Cash Equivalents at End of Period	$	5.5	$	—	$	145.0	$	—	$	150.5
CONDENSED STATEMENTS OF CONSOLIDATED CASH FLOWS
	Six Months Ended October 31, 2012
	The J.M. Smucker Company (Parent)		Subsidiary Guarantors		Non-Guarantor Subsidiaries		Eliminations		Consolidated
Net Cash Provided by Operating Activities	$	0.3	$	71.6	$	287.7	$	—	$	359.6
Investing Activities
Additions to property, plant, and equipment		(17.4)		(46.1)		(35.0)		—		(98.5)
Proceeds from disposal of property, plant, and equipment		—		0.1		0.5		—		0.6
Other—net		(9.5)		1.3		14.1		—		5.9
Net Cash Used for Investing Activities		(26.9)		(44.7)		(20.4)		—		(92.0)
Financing Activities
Quarterly dividends paid		(110.2)		—		—		—		(110.2)
Purchase of treasury shares		(175.3)		—		—		—		(175.3)
Proceeds from stock option exercises		0.8		—		—		—		0.8
Investments in subsidiaries		(110.3)		(149.8)		260.1		—		—
Intercompany		378.6		122.9		(501.5)		—		—
Other—net		2.4		—		(10.0)		—		(7.6)
Net Cash Used for Financing Activities		(14.0)		(26.9)		(251.4)		—		(292.3)
Effect of exchange rate changes		—		—		(1.4)		—		(1.4)
Net (decrease) increase in cash and cash equivalents		(40.6)		—		14.5		—		(26.1)
Cash and cash equivalents at beginning of period		108.3		—		121.4		—		229.7
Cash and Cash Equivalents at End of Period	$	67.7	$	—	$	135.9	$	—	$	203.6