Segment Information

12 Months Ended

Sep. 30, 2011

Segment Information [Abstract]

Segment Information

NOTE 20 – SEGMENT INFORMATION

     Management evaluates each segment's performance based on its segment profit, which is its operating profit before impairments of intangible assets, costs related to plant closures, and other unallocated corporate income and expenses.

     The accounting policies of the segments are the same as those described in Note 1. The Company's revenues were primarily generated by sales within the United States (U.S.); foreign (primarily Canadian) sales were approximately 7% of total net sales. Sales are characterized as U.S. or foreign based on the address to which the product is shipped. As of September 30, 2011, all of the Company's long-lived assets were located in the U.S. except for property located in Canada and Italy with a net carrying value of approximately $118.7. There were no material intersegment revenues (approximately 1% of total net sales). In fiscal 2011, 2010, and 2009, one customer accounted for $855.2, $724.8, and $738.7, respectively, or approximately 17-19%, of total net sales. Each of the segments sells products to this major customer.     

     The following tables present information about the Company's operating segments, which are also its reportable segments. Note that "Additions to property and intangibles" excludes additions through business acquisitions (see Note 3).

		2011			2010			2009
Net sales
Branded Cereal Products	$	953.8		$	987.5		$	1,070.6
Other Cereal Products		838.5			799.7			803.3
Snacks, Sauces & Spreads		1,602.7			1,461.6			1,323.2
Frozen Bakery Products		768.6			698.3			694.8
Pasta		577.4			101.4			-
Total	$	4,741.0		$	4,048.5		$	3,891.9
Segment operating profit
Branded Cereal Products	$	206.0		$	220.6		$	250.6
Other Cereal Products		86.3			90.3			92.0
Snacks, Sauces & Spreads		135.5			152.6			117.6
Frozen Bakery Products		88.0			80.8			69.1
Pasta		126.1			21.6			-
Total segment operating profit		641.9			565.9			529.3
Interest expense, net		(134.0	)		(107.8	)		(99.0	)
Adjustments for economic hedges		(28.9	)		-			-
Post separation costs		(2.8	)		-			-
Merger and integration costs		(2.5	)		(33.1	)		(32.0	)
Accelerated amortization of intangible assets		(5.0	)		-			-
Impairment of intangible assets		(503.5	)		(39.9	)		-
Provision for legal settlement		(2.5	)		(7.5	)		-
Amounts related to plant closures		(4.1	)		(2.5	)		(.5	)
Gain on forward sale contracts		-			-			17.6
Gain on sale of securities		-			-			70.6
Stock-based compensation expense		(16.4	)		(17.9	)		(13.4	)
Systems upgrade and conversion costs		(7.7	)		(9.6	)		(.5	)
Other unallocated corporate expenses		(38.7	)		(33.5	)		(34.6	)
(Loss) earnings before income taxes and equity earnings	$	(104.2	)	$	314.1		$	437.5
Additions to property and intangibles
Branded Cereal Products	$	14.7		$	24.3		$	36.8
Other Cereal Products		14.5			15.6			13.8
Snacks, Sauces & Spreads		58.7			50.9			29.6
Frozen Bakery Products		21.3			23.7			12.3
Pasta		20.9			2.8			-
Corporate		11.0			11.6			22.5
Total	$	141.1		$	128.9		$	115.0
Depreciation and amortization
Branded Cereal Products	$	58.7		$	55.4		$	50.6
Other Cereal Products		21.2			21.3			20.7
Snacks, Sauces & Spreads		41.0			36.2			31.1
Frozen Bakery Products		39.4			36.7			35.4
Pasta		52.2			8.7			-
Corporate		14.0			8.5			6.9
Total	$	226.5		$	166.8		$	144.7
Assets, end of year
Branded Cereal Products	$	2,670.6		$	3,271.3		$	3,351.7
Other Cereal Products		263.4			268.7			269.5
Snacks, Sauces & Spreads		799.0			760.0			604.0
Frozen Bakery Products		712.9			743.4			723.9
Pasta		1,463.0			1,456.6			-
Total segment assets		5,908.9			6,500.0			4,949.1
Cash & Cash Equivalents		50.0			29.3			282.8
Investment in Ralcorp Receivables Corporation		-			137.8			134.4
Other unallocated corporate assets		374.3			137.8			85.9
Total	$	6,333.2		$	6,804.9		$	5,452.2