Reportable Segments (Tables)

12 Months Ended

Apr. 30, 2023

Income, total assets, depreciation, amortization, impairment, and total additions to property plant and equipment by segment

The following table reconciles segment profit to income before income taxes and presents total assets; total depreciation, amortization, and impairment charges; and total additions to property, plant, and equipment by segment.


	Year Ended April 30,
	2023		2022		2021
Net sales:
U.S. Retail Pet Foods (A)	$	3,038.1	$	2,764.3	$	2,844.5
U.S. Retail Coffee	2,735.3		2,497.3		2,374.6
U.S. Retail Consumer Foods	1,630.9		1,707.2		1,835.7
International and Away From Home	1,124.9		1,030.1		947.9
Total net sales	$	8,529.2	$	7,998.9	$	8,002.7
Segment profit:
U.S. Retail Pet Foods (A)	$	494.9	$	395.9	$	487.0
U.S. Retail Coffee	737.7		736.7		769.1
U.S. Retail Consumer Foods	352.6		424.2		472.5
International and Away From Home	143.3		142.0		124.1
Total segment profit	$	1,728.5	$	1,698.8	$	1,852.7
Amortization	(206.9)		(223.6)		(233.0)

Other intangible assets impairment charges	—		(150.4)		(3.8)
Gain (loss) on divestitures – net	(1,018.5)		9.6		25.3
Interest expense – net	(152.0)		(160.9)		(177.1)
Change in net cumulative unallocated derivative gains and losses	(21.4)		(23.4)		93.6

Cost of products sold – special project costs (B)	(6.4)		(20.5)		(3.4)
Other special project costs (B)	(4.7)		(8.0)		(20.7)
Corporate administrative expenses	(313.1)		(258.7)		(323.9)
Other income (expense) – net	(14.7)		(19.1)		(37.8)
Income (loss) before income taxes	$	(9.2)	$	843.8	$	1,171.9
Assets:
U.S. Retail Pet Foods (A)	$	4,994.3	$	7,167.4	$	7,480.8
U.S. Retail Coffee	4,808.9		4,891.8		4,793.9
U.S. Retail Consumer Foods	2,972.7		2,692.1		2,553.4
International and Away From Home	978.3		973.9		1,013.8
Unallocated (C)	1,237.2		329.8		442.3
Total assets	$	14,991.4	$	16,055.0	$	16,284.2
Depreciation, amortization, and impairment charges:
U.S. Retail Pet Foods (A)	$	178.7	$	342.8	$	194.8
U.S. Retail Coffee	101.6		100.2		96.7
U.S. Retail Consumer Foods	76.3		64.6		75.4
International and Away From Home	31.7		46.2		50.2
Unallocated (D)	42.7		55.7		39.2
Total depreciation, amortization, and impairment charges	$	431.0	$	609.5	$	456.3
Additions to property, plant, and equipment:
U.S. Retail Pet Foods (A)	$	64.3	$	74.0	$	72.4
U.S. Retail Coffee	49.0		49.8		42.5
U.S. Retail Consumer Foods	341.6		274.8		167.4
International and Away From Home	22.5		18.9		24.4
Total additions to property, plant, and equipment	$	477.4	$	417.5	$	306.7

(A)On April 28, 2023, we sold certain pet food brands to Post, and the divested net sales were primarily included in the U.S. Retail Pet Foods segment. In addition, the net assets disposed of during 2023 were primarily included in the U.S. Retail Pet Foods segment. For more information, see Note 3: Divestitures.

(B)Special project costs include certain restructuring costs, which are recognized in cost of products sold and other special project costs in the Statements of Consolidated Income. For more information, see Note 2: Special Project Costs.

(C)Primarily represents unallocated cash and cash equivalents and corporate-held investments.

(D)Primarily represents unallocated corporate administrative expenses, mainly consisting of depreciation and software amortization.

^[1]

Geographical information

The following table presents certain geographical information.


	Year Ended April 30,
	2023		2022		2021
Net sales:
United States	$	8,001.4	$	7,469.6	$	7,448.3
International:
Canada	$	433.2	$	439.6	$	443.6
All other international	94.6		89.7		110.8
Total international	$	527.8	$	529.3	$	554.4
Total net sales	$	8,529.2	$	7,998.9	$	8,002.7
Assets:
United States	$	14,577.5	$	15,653.5	$	15,879.7
International:
Canada	$	412.5	$	399.8	$	402.7
All other international	1.4		1.7		1.8
Total international	$	413.9	$	401.5	$	404.5
Total assets	$	14,991.4	$	16,055.0	$	16,284.2
Long-lived assets (excluding goodwill and other intangible assets):
United States	$	2,421.9	$	2,331.2	$	2,220.6
International:
Canada	$	64.6	$	45.7	$	57.1
All other international	—		—		—
Total international	$	64.6	$	45.7	$	57.1
Total long-lived assets (excluding goodwill and other intangible assets)	$	2,486.5	$	2,376.9	$	2,277.7

Product category information

The following table presents product category information.


	Year Ended April 30,
	2023		2022		2021		Primary Reportable Segment (A)
Coffee	$	3,088.8	$	2,804.7	$	2,639.7	U.S. Retail Coffee
Cat food	1,101.1		969.9		918.4		U.S. Retail Pet Foods
Pet snacks	1,052.4		944.9		907.3		U.S. Retail Pet Foods
Dog food	980.0		926.5		1,090.8		U.S. Retail Pet Foods
Frozen handheld	686.4		510.7		430.3		U.S. Retail Consumer Foods
Peanut butter	635.6		801.1		796.1		U.S. Retail Consumer Foods
Fruit spreads	426.2		386.5		385.9		U.S. Retail Consumer Foods
Portion control	163.7		158.2		120.5		Other (B)
Baking mixes and ingredients	94.3		85.5		93.5		Other (B)
Juices and beverages	3.2		106.3		139.0		Other (B)(C)
Shortening and oils	—		—		193.9		U.S. Retail Consumer Foods (D)
Other	297.5		304.6		287.3		Other (B)
Total net sales	$	8,529.2	$	7,998.9	$	8,002.7

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

(B)Represents the combined International and Away From Home operating segments.

(C)During 2022 and 2021, 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 3: Divestitures.

(D)During 2021, the net sales within this category were related to the divested Crisco business. For more information, see Note 3: Divestitures.

[1]	Primarily represents unallocated cash and cash equivalents and corporate-held investments.