Segments

3 Months Ended

Jul. 27, 2011

Segments [Abstract]

Segments

(8)   Segments

The Company’s segments are primarily organized by geographic 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, 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 corporation-wide productivity initiatives (see Note 3) 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:

	First Quarter Ended
	July 27, 2011			July 28, 2010
	FY 2012			FY 2011
	(Thousands of Dollars)
Net external sales:
North American Consumer Products	$	774,621		$	761,812
Europe		837,832			713,323
Asia/Pacific		670,766			558,180
U.S. Foodservice		324,950			328,534
Rest of World		241,412			118,976
Consolidated Totals	$	2,849,581		$	2,480,825
Operating income (loss):
North American Consumer Products	$	190,778		$	191,080
Europe		137,439			115,036
Asia/Pacific		61,245			71,702
U.S. Foodservice		31,556			39,489
Rest of World		32,296			15,920
Other:
Non-Operating(a)		(43,240	)		(27,512	)
Productivity initiatives(b)		(40,511	)		—
Consolidated Totals	$	369,563		$	405,715

(a)	Includes corporate overhead, intercompany eliminations and charges not directly attributable to operating segments.
(b)	See Note 3 for further details.

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

	First Quarter Ended
	July 27, 2011		July 28, 2010
	FY 2012		FY 2011
	(Thousands of Dollars)
Ketchup and Sauces	$	1,310,480	$	1,092,196
Meals and Snacks		1,008,396		917,824
Infant/Nutrition		322,114		280,775
Other		208,591		190,030
Total	$	2,849,581	$	2,480,825