Reportable Segments

6 Months Ended

Oct. 31, 2011

Reportable Segments [Abstract]

Reportable Segments

Note G – Reportable Segments

The Company operates in one industry: the manufacturing and marketing of food products. Effective May 1, 2011, the Company’s reportable segments have been modified to align segment financial results with the responsibilities of segment management, consistent with the executive appointments announced in March 2011. As a result, the Company has the following three reportable segments: U.S. Retail Coffee, U.S. Retail Consumer Foods, and International, Foodservice, and Natural Foods. The U.S. Retail Coffee segment primarily represents the domestic sales of Folgers ^®, Dunkin’ Donuts ^®, Millstone^®, Café Bustelo^®, and Café Pilon ^TMbranded coffee to retail customers; the U.S. Retail Consumer Foods segment primarily includes domestic sales of Smucker’s^®, Crisco ^®, Jif ^®, Pillsbury^®, Eagle Brand^®, Hungry Jack ^®, and Martha White^® branded products; and the International, Foodservice, and Natural Foods segment is comprised of products distributed domestically and in foreign countries through retail channels, foodservice distributors and operators (e.g., restaurants, schools and universities, health care operators), and health and natural foods stores and distributors.

Also effective May 1, 2011, certain specialty brands which were previously included in the U.S. Retail Consumer Foods segment are included in the International, Foodservice, and Natural Foods segment (“product realignments”). Segment performance for 2011 has been reclassified for these product realignments and the organizational changes described above.

The following table sets forth reportable segment information.

	Three Months Ended						Six Months Ended
	October 31,						October 31,
	2011			2010			2011			2010
Net sales:
U.S. Retail Coffee	$	617,523		$	477,287		$	1,117,632		$	870,857
U.S. Retail Consumer Foods		615,192			543,045			1,074,692			991,567
International, Foodservice, and Natural Foods		281,190			258,581			510,464			463,801
Total net sales	$	1,513,905		$	1,278,913		$	2,702,788		$	2,326,225
Segment profit:
U.S. Retail Coffee	$	139,958		$	149,099		$	279,669		$	260,981
U.S. Retail Consumer Foods		115,955			113,127			194,974			206,482
International, Foodservice, and Natural Foods		38,991			51,420			77,536			86,941
Total segment profit	$	294,904		$	313,646		$	552,179		$	554,404
Interest income		324			572			626			1,005
Interest expense		(19,448	)		(18,505	)		(34,870	)		(35,044	)
Share-based compensation expense		(5,593	)		(5,968	)		(10,744	)		(10,308	)
Cost of products sold — restructuring		(11,804	)		(12,072	)		(21,470	)		(21,525	)
Cost of products sold — merger and integration		(915	)		0			(1,675	)		0
Other restructuring costs		(10,356	)		(8,345	)		(20,253	)		(26,449	)
Other merger and integration costs		(6,871	)		(2,773	)		(11,556	)		(5,429	)
Corporate administrative expenses		(47,751	)		(44,452	)		(94,164	)		(85,490	)
Other income (expense) — net		711			(376	)		1,954			317
Income before income taxes	$	193,201		$	221,727		$	360,027		$	371,481