Reportable Segments (Tables)

9 Months Ended

Jan. 31, 2023

The following table reconciles segment profit to income before income taxes.


	Three Months Ended January 31,				Nine Months Ended January 31,
	2023		2022		2023		2022
Net sales:
U.S. Retail Pet Foods	$	758.6	$	696.6	$	2,252.8	$	2,046.2
U.S. Retail Coffee	735.1		661.8		2,042.8		1,850.1
U.S. Retail Consumer Foods	434.2		433.1		1,177.5		1,309.9
International and Away From Home	288.4		265.6		821.3		758.9
Total net sales	$	2,216.3	$	2,057.1	$	6,294.4	$	5,965.1
Segment profit:
U.S. Retail Pet Foods	$	109.0	$	95.7	$	349.4	$	275.2
U.S. Retail Coffee	204.0		213.4		537.6		572.5
U.S. Retail Consumer Foods	94.1		99.5		249.2		329.2
International and Away From Home	37.6		34.2		95.7		107.5
Total segment profit	$	444.7	$	442.8	$	1,231.9	$	1,284.4
Amortization	(55.6)		(55.3)		(166.8)		(166.1)

Other intangible assets impairment charge	—		(150.4)		—		(150.4)
Gain on divestitures – net	—		9.6		1.6		9.6
Interest expense – net	(37.9)		(39.5)		(116.7)		(122.9)
Change in net cumulative unallocated derivative gains and losses	17.5		(22.4)		(43.4)		(37.9)
Cost of products sold – special project costs (A)	(1.0)		(6.8)		(4.9)		(17.5)
Other special project costs (A)	(0.6)		(2.0)		(2.7)		(5.1)
Corporate administrative expenses	(87.1)		(64.9)		(224.7)		(195.2)
Other income (expense) – net	(4.6)		(1.5)		(4.9)		(15.3)
Income before income taxes	$	275.4	$	109.6	$	669.4	$	583.6

(A)Special project costs include certain restructuring costs, which are recognized in cost of products sold and other special project costs in the Condensed Statements of Consolidated Income. For more information, see Note 3: Restructuring Costs.

Geographical information

The following table presents certain geographical information.


	Three Months Ended January 31,				Nine Months Ended January 31,
	2023		2022		2023		2022
Net sales:
United States	$	2,080.8	$	1,921.8	$	5,902.8	$	5,574.2
International:
Canada	$	110.0	$	111.9	$	323.0	$	326.5
All other international	25.5		23.4		68.6		64.4
Total international	$	135.5	$	135.3	$	391.6	$	390.9
Total net sales	$	2,216.3	$	2,057.1	$	6,294.4	$	5,965.1

Product category information

The following table presents product category information.


	Three Months Ended January 31,				Nine Months Ended January 31,
	2023		2022		2023		2022		Primary Reportable Segment (A)
Coffee	$	827.7	$	746.2	$	2,307.2	$	2,077.8	U.S. Retail Coffee
Cat food	271.3		243.7		821.4		707.5		U.S. Retail Pet Foods
Pet snacks	269.0		251.5		773.4		697.1		U.S. Retail Pet Foods
Dog food	241.8		219.9		729.8		696.7		U.S. Retail Pet Foods
Frozen handheld	172.6		120.2		501.4		380.9		U.S. Retail Consumer Foods
Peanut butter	184.6		194.6		438.1		606.7		U.S. Retail Consumer Foods
Fruit spreads	110.2		101.6		314.0		282.3		U.S. Retail Consumer Foods
Portion control	42.9		42.4		114.2		117.6		Other (B)
Baking mixes and ingredients	25.7		23.4		70.8		61.3		Other (B)
Juices and beverages	0.8		36.0		2.4		105.7		Other (B)(C)
Other	69.7		77.6		221.7		231.5		Other (B)
Total net sales	$	2,216.3	$	2,057.1	$	6,294.4	$	5,965.1

(A)The primary reportable segment generally represents at least 75 percent of total net sales for each respective product category.

(B)Represents the International and Away From Home operating segments, which are combined for segment reporting purposes.

(C)During the three and nine months ended January 31, 2022, the net sales within this category were primarily related to the divested natural beverage business included in the U.S. Retail Consumer Foods segment. For more information, see Note 4: Divestitures.