Segment Information

12 Months Ended

Apr. 29, 2012

Segment Reporting [Abstract]

Segment Information

Segment Information

The Company’s segments are primarily organized by geographical area. The composition of segments and measure of segment profitability are consistent with that used by the Company’s management.

Descriptions of the Company’s reportable segments are as follows:

• North American Consumer Products—This segment primarily manufactures, markets and sells ketchup, condiments, sauces, pasta meals, and frozen potatoes, entrees, snacks, and appetizers to the grocery channels in the United States of America and includes our Canadian business.

• Europe—This segment includes the Company’s operations in Europe and products in all of the Company’s categories.

• Asia/Pacific—This segment includes the Company’s operations in Australia, New Zealand, India, Japan, China, Papua New Guinea, South Korea, Indonesia, Vietnam and Singapore. This segment’s operations include products in all of the Company’s categories.

• U.S. Foodservice—This segment primarily manufactures, markets and sells branded and customized products to commercial and non-commercial food outlets and distributors in the United States of America including ketchup, condiments, sauces, frozen soups and desserts.

• Rest of World—This segment includes the Company’s operations in Africa, Latin America, and the Middle East that sell products in all of the Company’s categories.

The Company’s management evaluates performance based on several factors including net sales, operating income and the use of capital resources. Inter-segment revenues, items below the operating income line of the consolidated statements of income, and certain costs associated with the Fiscals 2012 and 2010 corporation-wide productivity initiatives are not presented by segment, since they are not reflected in the measure of segment profitability reviewed by the Company’s management.

The following table presents information about the Company’s reportable segments:

	Fiscal Year Ended
	April 29, 2012		April 27, 2011		April 28, 2010		April 29, 2012			April 27, 2011			April 28, 2010
	(52 1/2 Weeks)		(52 Weeks)		(52 Weeks)		(52 1/2 Weeks)			(52 Weeks)			(52 Weeks)
	(In thousands)
	Net External Sales						Operating Income (Loss)
North American Consumer Products	$	3,241,533	$	3,265,857	$	3,192,219	$	812,056		$	832,719		$	771,497
Europe	3,441,282		3,236,800		3,332,619		608,829			581,148			554,300
Asia/Pacific	2,568,716		2,320,789		2,007,252		206,306			221,580			195,261
U.S. Foodservice	1,418,970		1,413,456		1,429,511		166,298			175,977			150,628
Rest of World	978,578		469,686		533,382		105,080			53,371			69,219
Non-Operating(a)	—		—		—		(223,084		)	(216,605		)	(158,989		)
Productivity initiatives(d)	—		—		—		(224,317		)	—			(37,665		)
Gain on property disposal in the Netherlands(e)	—		—		—		—			—			14,977
Consolidated Totals	$	11,649,079	$	10,706,588	$	10,494,983	$	1,451,168		$	1,648,190		$	1,559,228
	Depreciation and Amortization Expenses						Capital Expenditures(b)
Total North America	$	133,589	$	123,817	$	122,774	$	103,958		$	101,001		$	88,841
Europe	98,384		91,222		105,684		113,420			97,964			74,095
Asia/Pacific	63,102		53,326		46,976		99,912			71,419			46,105
Rest of World	19,290		6,324		6,638		38,539			12,829			11,785
Non-Operating(a)	28,428		23,971		16,978		62,905			52,433			56,816
Consolidated Totals	$	342,793	$	298,660	$	299,050	$	418,734		$	335,646		$	277,642
	Identifiable Assets
Total North America	$	3,394,387	$	3,633,276	$	3,532,477
Europe	4,158,349		4,398,944		3,815,179
Asia/Pacific	2,544,332		2,424,739		1,869,591
Rest of World	1,145,696		1,149,802		276,902
Non-Operating(c)	740,529		623,884		581,562
Consolidated Totals	$	11,983,293	$	12,230,645	$	10,075,711

(a) Includes corporate overhead, intercompany eliminations and charges not directly attributable to operating segments.

(b) Excludes property, plant and equipment obtained through acquisitions.

(c) Includes identifiable assets not directly attributable to operating segments.

(d) See Note 3 for further details on Fiscal 2012 productivity initiatives. Fiscal 2010 includes costs associated with targeted workforce reductions and asset write-offs, that were part of a corporation-wide initiative to improve productivity. The asset write-offs related to two factory closures and the exit of a formula business in the U.K.

(e) Includes payments received from the government in the Netherlands net of estimated costs to exit the facility. See Note 4for additional explanation.

The Company’s revenues are generated via the sale of products in the following categories:

	Fiscal Year Ended
	April 29, 2012		April 27, 2011		April 28, 2010
	(52 1/2 Weeks)		(52 Weeks)		(52 Weeks)
	(In thousands)
Ketchup and Sauces	$	5,232,607	$	4,607,971	$	4,446,911
Meals and Snacks	4,479,502		4,282,318		4,289,977
Infant/Nutrition	1,232,248		1,175,438		1,157,982
Other	704,722		640,861		600,113
Total	$	11,649,079	$	10,706,588	$	10,494,983

The Company has significant sales and long-lived assets in the following geographic areas. Sales are based on the location in which the sale originated. Long-lived assets include property, plant and equipment, goodwill, trademarks and other intangibles, net of related depreciation and amortization.

	Fiscal Year Ended
	Net External Sales						Long-Lived Assets
	April 29, 2012		April 27, 2011		April 28, 2010
	(52 1/2 Weeks)		(52 Weeks)		(52 Weeks)		April 29, 2012		April 27, 2011		April 28, 2010
	(In thousands)
United States	$	3,958,259	$	3,991,344	$	3,993,692	$	2,419,518	$	2,425,446	$	2,403,078
United Kingdom	1,611,177		1,506,607		1,519,278		1,207,918		1,245,047		1,151,660
Other	6,079,643		5,208,637		4,982,013		3,540,923		3,731,815		2,605,690
Total	$	11,649,079	$	10,706,588	$	10,494,983	$	7,168,359	$	7,402,308	$	6,160,428