Reportable Segments

9 Months Ended

Jan. 31, 2014

Segment Reporting [Abstract]

Reportable Segments

Note 6: Reportable Segments

We operate in one industry: the manufacturing and marketing of food products. We have 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 Jif ®, Smucker’s®, Pillsbury®, Crisco®, Martha White®, Hungry Jack®, and Eagle Brand® 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 natural foods stores and distributors.

Segment profit represents net sales, less direct and allocable operating expenses, and is consistent with the way in which we manage our segments. However, we do not represent that the segments, if operated independently, would report operating profit equal to the segment profit set forth below, as segment profit excludes certain operating expenses such as corporate administrative expenses.

	Three Months Ended January 31,				Nine Months Ended January 31,
	2014		2013		2014		2013
Net sales:
U.S. Retail Coffee	$	578.9	$	627.7	$	1,688.2	$	1,771.0
U.S. Retail Consumer Foods		557.8		581.3		1,706.8		1,729.0
International, Foodservice, and Natural Foods		328.8		350.6		981.3		1,058.0
Total net sales	$	1,465.5	$	1,559.6	$	4,376.3	$	4,558.0
Segment profit:
U.S. Retail Coffee	$	182.3	$	175.2	$	508.9	$	459.8
U.S. Retail Consumer Foods		105.6		106.2		301.2		325.1
International, Foodservice, and Natural Foods		44.8		49.8		135.6		148.7
Total segment profit	$	332.7	$	331.2	$	945.7	$	933.6
Interest expense – net		(18.4)		(23.8)		(62.7)		(71.3)
Cost of products sold – restructuring and merger and integration		(2.9)		(1.2)		(6.7)		(7.6)
Other restructuring and merger and integration costs		(7.1)		(6.8)		(19.8)		(35.5)
Other special project costs		—		—		—		(6.7)
Corporate administrative expenses		(59.2)		(64.9)		(191.6)		(187.4)
Other income (expense) – net		1.4		(0.5)		1.1		0.4
Income before income taxes	$	246.5	$	234.0	$	666.0	$	625.5