EX-99.1 2 l40469exv99w1.htm EX-99.1 exv99w1
Exhibit 99.1
The J. M. Smucker Company
Unaudited Reportable Segments Supplemental Information
(Recalculated to be Consistent with Fiscal 2011 Methodology)
                 
    Three Months Ended July 31,  
    2009     2008  
Net sales:
                
U.S. Retail Coffee Market
   $ 366,229     $ —  
U.S. Retail Consumer Market
     291,002       273,976  
U.S. Retail Oils and Baking Market
     194,416       198,165  
Special Markets
     199,879       191,516  
 
            
Total net sales
   $ 1,051,526     $ 663,657  
 
            
 
                
Segment profit:
                
U.S. Retail Coffee Market
   $ 111,167     $ —  
U.S. Retail Consumer Market
     66,123       60,094  
U.S. Retail Oils and Baking Market
     25,680       26,510  
Special Markets
     26,694       21,049  
 
            
Total segment profit
   $ 229,664     $ 107,653  
 
            
Interest income
     1,371       1,338  
Interest expense
     (18,951 )     (10,744 )
Share-based compensation expense
     (4,553 )     (2,799 )
Merger and integration costs
     (16,476 )     (3,400 )
Other restructuring costs
     —       (519 )
Corporate administrative expense
     (39,801 )     (28,892 )
Other unallocated (expense) income
     (20 )     810  
 
            
Income before income taxes
   $ 151,234     $ 63,447  
 
            
 
                
Segment profit margin:
                
U.S. Retail Coffee Market
     30.4 %     n/a  
U.S. Retail Consumer Market
     22.7 %     21.9 %
U.S. Retail Oils and Baking Market
     13.2 %     13.4 %
Special Markets
     13.4 %     11.0 %

 

 

The J. M. Smucker Company
Unaudited Reportable Segments Supplemental Information
(Recalculated to be Consistent with Fiscal 2011 Methodology)
                                 
    Three Months Ended October 31,     Six Months Ended October 31,  
    2009     2008     2009     2008  
            (Dollars in thousands)          
Net sales:
                                
U.S. Retail Coffee Market
   $ 445,102     $ —     $ 811,331     $ —  
U.S. Retail Consumer Market
     290,090       301,701       581,092       575,677  
U.S. Retail Oils and Baking Market
     303,896       333,287       498,312       531,452  
Special Markets
     239,657       208,154       439,536       399,670  
 
                        
Total net sales
   $ 1,278,745     $ 843,142     $ 2,330,271     $ 1,506,799  
 
                        
 
                                
Segment profit:
                                
U.S. Retail Coffee Market
   $ 131,850     $ —     $ 243,017     $ —  
U.S. Retail Consumer Market
     70,512       68,358       136,635       128,452  
U.S. Retail Oils and Baking Market
     45,398       29,904       71,078       56,414  
Special Markets
     40,003       25,818       66,697       46,867  
 
                        
Total segment profit
   $ 287,763     $ 124,080     $ 517,427     $ 231,733  
 
                        
Interest income
     686       1,901       2,057       3,239  
Interest expense
     (17,473 )     (11,314 )     (36,424 )     (22,058 )
Share-based compensation expense
     (5,268 )     (3,236 )     (9,821 )     (6,035 )
Merger and integration costs
     (8,148 )     (6,210 )     (24,624 )     (9,610 )
Other restructuring costs
     —       (127 )     —       (646 )
Corporate administrative expense
     (43,141 )     (27,736 )     (82,942 )     (56,628 )
Other unallocated income (expense)
     583       (133 )     563       677  
 
                        
Income before income taxes
   $ 215,002     $ 77,225     $ 366,236     $ 140,672  
 
                        
 
                                
Segment profit margin:
                                
U.S. Retail Coffee Market
     29.6 %     n/a       30.0 %     n/a  
U.S. Retail Consumer Market
     24.3 %     22.7 %     23.5 %     22.3 %
U.S. Retail Oils and Baking Market
     14.9 %     9.0 %     14.3 %     10.6 %
Special Markets
     16.7 %     12.4 %     15.2 %     11.7 %

 

 

The J. M. Smucker Company
Unaudited Reportable Segments Supplemental Information
(Recalculated to be Consistent with Fiscal 2011 Methodology)
                                 
    Three Months Ended January 31,     Nine Months Ended January 31,  
    2010     2009     2010     2009  
            (Dollars in thousands)          
Net sales:
                                
U.S. Retail Coffee Market
   $ 471,463     $ 431,997     $ 1,282,794     $ 431,997  
U.S. Retail Consumer Market
     273,837       270,465       854,929       846,142  
U.S. Retail Oils and Baking Market
     244,175       278,793       742,487       810,245  
Special Markets
     216,464       201,339       656,000       601,009  
 
                        
Total net sales
   $ 1,205,939     $ 1,182,594     $ 3,536,210     $ 2,689,393  
 
                        
 
                                
Segment profit:
                                
U.S. Retail Coffee Market
   $ 132,617     $ 74,859     $ 375,634     $ 74,859  
U.S. Retail Consumer Market
     66,178       62,225       202,813       190,677  
U.S. Retail Oils and Baking Market
     35,919       45,132       106,997       101,546  
Special Markets
     30,686       23,158       97,383       70,025  
 
                        
Total segment profit
   $ 265,400     $ 205,374     $ 782,827     $ 437,107  
 
                        
Interest income
     310       1,822       2,367       5,061  
Interest expense
     (14,236 )     (21,959 )     (50,660 )     (44,017 )
Share-based compensation expense
     (4,631 )     (2,928 )     (14,452 )     (8,963 )
Merger and integration costs
     (4,672 )     (32,809 )     (29,296 )     (42,419 )
Other restructuring costs
     —       (257 )     —       (903 )
Corporate administrative expense
     (46,231 )     (33,667 )     (129,173 )     (90,295 )
Other unallocated income (expense)
     1,221       (1,220 )     1,784       (543 )
 
                        
Income before income taxes
   $ 197,161     $ 114,356     $ 563,397     $ 255,028  
 
                        
 
                                
Segment profit margin:
                                
U.S. Retail Coffee Market
     28.1 %     17.3 %     29.3 %     17.3 %
U.S. Retail Consumer Market
     24.2 %     23.0 %     23.7 %     22.5 %
U.S. Retail Oils and Baking Market
     14.7 %     16.2 %     14.4 %     12.5 %
Special Markets
     14.2 %     11.5 %     14.8 %     11.7 %

 

 

The J. M. Smucker Company
Unaudited Reportable Segments Supplemental Information
(Recalculated to be Consistent with Fiscal 2011 Methodology)
                                 
    Three Months Ended April 30,     Year Ended April 30,  
    2010     2009     2010     2009  
            (Dollars in thousands)          
Net sales:
                                
U.S. Retail Coffee Market
   $ 417,664     $ 423,574     $ 1,700,458     $ 855,571  
U.S. Retail Consumer Market
     270,351       257,122       1,125,280       1,103,264  
U.S. Retail Oils and Baking Market
     163,232       185,229       905,719       995,474  
Special Markets
     217,832       202,615       873,832       803,624  
 
                        
Total net sales
   $ 1,069,079     $ 1,068,540     $ 4,605,289     $ 3,757,933  
 
                        
 
                                
Segment profit:
                                
U.S. Retail Coffee Market
   $ 108,372     $ 136,254     $ 484,006     $ 211,113  
U.S. Retail Consumer Market
     82,410       58,762       285,223       249,439  
U.S. Retail Oils and Baking Market
     20,957       15,400       127,954       116,946  
Special Markets
     37,565       35,003       134,948       105,028  
 
                        
Total segment profit
   $ 249,304     $ 245,419     $ 1,032,131     $ 682,526  
 
                        
Interest income
     426       1,932       2,793       6,993  
Interest expense
     (14,527 )     (18,461 )     (65,187 )     (62,478 )
Share-based compensation expense
     (6,235 )     (5,080 )     (20,687 )     (14,043 )
Merger and integration costs
     (4,396 )     (30,247 )     (33,692 )     (72,666 )
Cost of products sold — restructuring
     (3,870 )     —       (3,870 )     —  
Other restructuring costs
     (1,841 )     (9,326 )     (1,841 )     (10,229 )
Corporate administrative expense
     (51,959 )     (43,018 )     (181,132 )     (133,313 )
Other unallocated income (expense)
     454       (182 )     2,238       (725 )
 
                        
Income before income taxes
   $ 167,356     $ 141,037     $ 730,753     $ 396,065  
 
                        
 
                                
Segment profit margin:
                                
U.S. Retail Coffee Market
     25.9 %     32.2 %     28.5 %     24.7 %
U.S. Retail Consumer Market
     30.5 %     22.9 %     25.3 %     22.6 %
U.S. Retail Oils and Baking Market
     12.8 %     8.3 %     14.1 %     11.7 %
Special Markets
     17.2 %     17.3 %     15.4 %     13.1 %