Segment Information

12 Months Ended

Apr. 28, 2013

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 sells 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 and frozen soups.

• 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, the Fiscal 2013 special items, including transaction-related costs associated with the proposed merger (see Note 21), a charge for the closure of a factory in South Africa and a charge for the settlement of the Foodstar earn-out (see Note 11), and costs associated with the Fiscal 2012 corporation-wide productivity initiatives (see Note 4) 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 28, 2013		April 29, 2012		April 27, 2011		April 28, 2013			April 29, 2012			April 27, 2011
	(52 Weeks)		(52 1/2 Weeks)		(52 Weeks)		(52 Weeks)			(52 1/2 Weeks)			(52 Weeks)
	(In thousands)
	Net External Sales						Operating Income (Loss)
North American Consumer Products	$	3,195,099	$	3,241,533	$	3,265,857	$	790,939		$	812,056		$	832,719
Europe	3,314,523		3,441,282		3,236,800		593,044			608,829			581,148
Asia/Pacific	2,533,334		2,500,411		2,247,193		265,879			234,671			253,524
U.S. Foodservice	1,370,779		1,345,768		1,339,100		186,155			169,843			183,425
Rest of World	1,115,151		978,578		469,686		112,660			105,080			53,371
Non-Operating(a)	—		—		—		(226,588		)	(222,754		)	(216,549		)
Fiscal 2013 special items(b)	—		—		—		(60,438		)	—			—
Productivity initiatives(c)	—		—		—		—			(205,418		)	—
Consolidated Totals	$	11,528,886	$	11,507,572	$	10,558,636	$	1,661,651		$	1,502,307		$	1,687,638
	Depreciation and Amortization Expenses						Capital Expenditures(d)
Total North America	$	126,859	$	131,023	$	121,480	$	107,207		$	103,958		$	101,001
Europe	98,806		98,384		91,222		96,112			113,420			97,964
Asia/Pacific	62,233		59,796		49,802		91,361			99,912			71,419
Rest of World	22,836		19,290		6,324		48,747			38,539			12,829
Non-Operating(a)	35,898		28,428		23,971		55,671			62,905			52,433
Consolidated Totals	$	346,632	$	336,921	$	292,799	$	399,098		$	418,734		$	335,646
	Identifiable Assets
Total North America	$	3,289,900	$	3,394,387	$	3,633,276
Europe	5,129,880		4,158,349		4,398,944
Asia/Pacific	2,670,376		2,544,332		2,424,739
Rest of World	1,123,407		1,145,696		1,149,802
Non-Operating(e)	725,444		740,529		623,884
Consolidated Totals	$	12,939,007	$	11,983,293	$	12,230,645

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

(b) See Note 17 for further details on Fiscal 2013 special items.

(c) See Note 4 for further details on Fiscal 2012 productivity initiatives.

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

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

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

	Fiscal Year Ended
	April 28, 2013		April 29, 2012		April 27, 2011
	(52 Weeks)		(52 1/2 Weeks)		(52 Weeks)
	(In thousands)
Ketchup and Sauces	$	5,375,788	$	5,232,607	$	4,607,326
Meals and Snacks	4,240,808		4,337,995		4,134,836
Infant/Nutrition	1,189,015		1,232,248		1,175,438
Other	723,275		704,722		641,036
Total	$	11,528,886	$	11,507,572	$	10,558,636

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 28, 2013		April 29, 2012		April 27, 2011
	(52 Weeks)		(52 1/2 Weeks)		(52 Weeks)		April 28, 2013		April 29, 2012		April 27, 2011
	(In thousands)
United States	$	3,857,247	$	3,885,057	$	3,916,988	$	2,383,136	$	2,419,518	$	2,425,446
United Kingdom	1,597,755		1,611,177		1,506,607		1,133,086		1,207,918		1,245,047
Other	6,073,884		6,011,338		5,135,041		3,437,299		3,540,923		3,731,815
Total	$	11,528,886	$	11,507,572	$	10,558,636	$	6,953,521	$	7,168,359	$	7,402,308