Reportable Segments

6 Months Ended

Oct. 31, 2012

Segment Reporting [Abstract]

Reportable Segments

Note 8: Reportable Segments

The Company operates in one industry: the manufacturing and marketing of food products. The Company has 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 branded coffee; the U.S. Retail Consumer Foods segment primarily includes domestic sales of Smucker’s®, Jif®, Crisco®, 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, lodging, schools and universities, health care operators), and health and natural foods stores and distributors.

Segment profit represents revenue, less direct and allocable operating expenses, and is consistent with the way in which the Company manages its segments. However, the Company does not represent that the segments, if operated independently, would report the segment profit set forth below, as segment profit excludes certain operating expenses such as corporate administrative expenses.

	Three Months Ended		Six Months Ended
	October 31,		October 31,
	2012	2011	2012	2011
Net sales:
U.S. Retail Coffee	$ 622,470	$ 617,523	$ 1,143,263	$ 1,117,632
U.S. Retail Consumer Foods	619,308	615,192	1,147,752	1,074,692
International, Foodservice, and Natural Foods	386,968	281,190	707,434	510,464
Total net sales	$ 1,628,746	$ 1,513,905	$ 2,998,449	$ 2,702,788
Segment profit:
U.S. Retail Coffee	$ 158,211	$ 139,958	$ 284,599	$ 279,669
U.S. Retail Consumer Foods	111,126	115,955	218,961	194,974
International, Foodservice, and Natural Foods	58,180	38,991	98,866	77,536
Total segment profit	$ 327,517	$ 294,904	$ 602,426	$ 552,179
Interest income	378	324	656	626
Interest expense	(24,266)	(19,448)	(48,148)	(34,870)
Share-based compensation expense	(6,009)	(5,593)	(10,125)	(10,744)
Cost of products sold - restructuring and merger and integration	(2,458)	(12,719)	(6,422)	(23,145)
Other restructuring and merger and integration costs	(11,473)	(17,227)	(28,652)	(31,809)
Other special project costs	0	0	(6,669)	0
Corporate administrative expenses	(60,035)	(47,751)	(112,491)	(94,164)
Other income - net	564	711	908	1,954
Income before income taxes	$ 224,218	$ 193,201	$ 391,483	$ 360,027