Guarantor and Non-Guarantor Financial Information (Tables)

12 Months Ended

Apr. 30, 2015

Guarantor and Non Guarantor Financial Information [Abstract]

CONDENSED STATEMENTS OF CONSOLIDATED INCOME AND COMPREHENSIVE INCOME

CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME


	Year Ended April 30, 2015
	The J. M. Smucker Company (Parent)		Subsidiary Guarantors		Non-Guarantor Subsidiaries		Eliminations		Consolidated
Net sales	$	2,998.0	$	1,184.0	$	6,622.4	$	(5,111.7)	$	5,692.7
Cost of products sold		2,457.8		1,080.0		5,301.6		(5,115.4)		3,724.0

Gross Profit		540.2		104.0		1,320.8		3.7		1,968.7
Selling, distribution, and administrative expenses and other special project costs		234.9		53.8		799.2		—		1,087.9
Amortization		4.2		—		106.7		—		110.9
Other operating expense (income) - net		0.3		(2.4)		—		—		(2.1)

Operating Income		300.5		52.6		414.9		3.7		772.0
Interest (expense) income - net		(80.7)		1.2		(0.4		—		(79.9)
Other debt costs		(173.3)		—		—		—		(173.3)
Other income - net		0.6		0.1		3.5		—		4.2
Equity in net earnings of subsidiaries		312.6		131.4		52.7		(496.7)		—

Income Before Income Taxes		360.0		185.3		470.7		(493.0)		523.0
Income taxes		15.1		0.4		162.6		—		178.1

Net Income	$	344.9	$	184.9	$	308.1	$	(493.0)	$	344.9
Other comprehensive loss, net of tax		(58.2)		(18.5)		(43.3)		61.8		(58.2)

Comprehensive Income	$	286.7	$	166.4	$	264.8	$	(431.2)	$	286.7

CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME


	Year Ended April 30, 2014
	The J. M. Smucker Company (Parent)		Subsidiary Guarantors		Non-Guarantor Subsidiaries		Eliminations		Consolidated
Net sales	$	3,162.8	$	1,278.8	$	6,601.3	$	(5,432.3)	$	5,610.6
Cost of products sold		2,573.6		1,166.0		5,268.5		(5,428.5)		3,579.6

Gross Profit		589.2		112.8		1,332.8		(3.8)		2,031.0
Selling, distribution, and administrative expenses and other special project costs		197.1		47.5		769.8		—		1,014.4
Amortization		4.2		—		94.7		—		98.9
Other operating (income) expense - net		(1.3)		0.9		(0.9)		—		(1.3)

Operating Income		389.2		64.4		469.2		(3.8)		919.0
Interest (expense) income - net		(80.8)		1.2		(1.5)		1.7		(79.4)
Other income (expense) - net		10.8		—		1.0		(1.7		10.1
Equity in net earnings of subsidiaries		345.1		141.4		64.4		(550.9)		—

Income Before Income Taxes		664.3		207.0		533.1		(554.7)		849.7
Income taxes		99.1		0.4		185.0		—		284.5

Net Income	$	565.2	$	206.6	$	348.1	$	(554.7)	$	565.2
Other comprehensive income, net of tax		25.0		27.4		6.0		(33.4)		25.0

Comprehensive Income	$	590.2	$	234.0	$	354.1	$	(588.1)	$	590.2

CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME


	Year Ended April 30, 2013
	The J. M. Smucker Company (Parent)		Subsidiary Guarantors		Non-Guarantor Subsidiaries		Eliminations		Consolidated
Net sales	$	4,447.6	$	1,296.4	$	5,430.3	$	(5,276.6)	$	5,897.7
Cost of products sold		3,957.3		1,190.6		4,015.0		(5,292.8)		3,870.1

Gross Profit		490.3		105.8		1,415.3		16.2		2,027.6
Selling, distribution, and administrative expenses and other special project costs		199.0		42.9		781.5		—		1,023.4
Amortization		4.8		—		92.0		—		96.8
Other operating (income) expense - net		(2.7)		(2.2)		1.9		—		(3.0)

Operating Income		289.2		65.1		539.9		16.2		910.4
Interest (expense) income - net		(94.4)		1.2		(0.2)		—		(93.4)
Other income (expense) - net		0.7		1.1		(1.5)		—		0.3
Equity in net earnings of subsidiaries		408.6		156.7		66.4		(631.7)		—

Income Before Income Taxes		604.1		224.1		604.6		(615.5)		817.3
Income taxes		59.9		0.4		212.8		—		273.1

Net Income	$	544.2	$	223.7	$	391.8	$	(615.5)	$	544.2
Other comprehensive income, net of tax		7.4		9.0		4.1		(13.1)		7.4

Comprehensive Income	$	551.6	$	232.7	$	395.9	$	(628.6)	$	551.6

CONDENSED CONSOLIDATED BALANCE SHEETS

CONDENSED CONSOLIDATING BALANCE SHEETS


	April 30, 2015
	The J. M. Smucker Company (Parent)		Subsidiary Guarantors		Non-Guarantor Subsidiaries		Eliminations		Consolidated
ASSETS
Current Assets
Cash and cash equivalents	$	7.1	$	—	$	118.5	$	—	$	125.6
Inventories		—		180.3		979.6		3.7		1,163.6
Other current assets		427.4		4.8		343.5		(12.6)		763.1

Total Current Assets		434.5		185.1		1,441.6		(8.9)		2,052.3
Property, Plant, and Equipment-Net		258.0		591.3		829.0		—		1,678.3
Investments in Subsidiaries		14,610.4		4,179.7		272.4		(19,062.5)		—
Intercompany Receivable		—		305.2		133.1		(438.3)		—
Other Noncurrent Assets
Goodwill		1,082.0		—		4,927.8		—		6,009.8
Other intangible assets-net		501.1		—		6,449.2		—		6,950.3
Other noncurrent assets		55.6		10.5		125.8		—		191.9

Total Other Noncurrent Assets		1,638.7		10.5		11,502.8		—		13,152.0

Total Assets	$	16,941.6	$	5,271.8	$	14,178.9	$	(19,509.7)	$	16,882.6


LIABILITIES AND SHAREHOLDERS’ EQUITY
Current Liabilities	$	484.0	$	82.6	$	468.6	$	(12.6)	$	1,022.6
Noncurrent Liabilities
Long-term debt		5,944.9		—		—		—		5,944.9
Deferred income taxes		106.9		—		2,366.4		—		2,473.3
Intercompany payable		3,080.2		—		—		(3,080.2)		—
Other noncurrent liabilities		238.7		15.2		101.0		—		354.9

Total Noncurrent Liabilities		9,370.7		15.2		2,467.4		(3,080.2)		8,773.1

Total Liabilities		9,854.7		97.8		2,936.0		(3,092.8)		9,795.7

Total Shareholders’ Equity		7,086.9		5,174.0		11,242.9		(16,416.9)		7,086.9

Total Liabilities and Shareholders’ Equity	$	16,941.6	$	5,271.8	$	14,178.9	$	(19,509.7)	$	16,882.6

CONDENSED CONSOLIDATING BALANCE SHEETS


	April 30, 2014
	The J. M. Smucker Company (Parent)		Subsidiary Guarantors		Non-Guarantor Subsidiaries		Eliminations		Consolidated
ASSETS
Current Assets
Cash and cash equivalents	$	6.8	$	—	$	146.7	$	—	$	153.5
Inventories		—		173.3		761.4		(3.7)		931.0
Other current assets		360.2		9.9		94.6		(10.1)		454.6

Total Current Assets		367.0		183.2		1,002.7		(13.8)		1,539.1
Property, Plant, and Equipment - Net		233.6		551.1		480.9		—		1,265.6
Investments in Subsidiaries		8,367.6		4,063.3		237.9		(12,668.8)		—
Intercompany Receivable		—		315.5		1,132.2		(1,447.7)		—
Other Noncurrent Assets
Goodwill		1,082.0		—		2,016.2		—		3,098.2
Other intangible assets - net		505.5		—		2,518.8		—		3,024.3
Other noncurrent assets		58.5		11.1		63.4		—		133.0

Total Other Noncurrent Assets		1,646.0		11.1		4,598.4		—		6,255.5

Total Assets	$	10,614.2	$	5,124.2	$	7,452.1	$	(14,130.3)	$	9,060.2


LIABILITIES AND SHAREHOLDERS’ EQUITY
Current Liabilities	$	590.7	$	103.8	$	201.4	$	(10.1)	$	885.8
Noncurrent Liabilities
Long-term debt		1,873.1		—		—		—		1,873.1
Deferred income taxes		107.6		—		913.1		—		1,020.7
Intercompany payable		2,792.9		—		—		(2,792.9)		—
Other noncurrent liabilities		220.3		12.8		17.9		—		251.0

Total Noncurrent Liabilities		4,993.9		12.8		931.0		(2,792.9)		3,144.8

Total Liabilities		5,584.6		116.6		1,132.4		(2,803.0)		4,030.6

Total Shareholders’ Equity		5,029.6		5,007.6		6,319.7		(11,327.3)		5,029.6

Total Liabilities and Shareholders’ Equity	$	10,614.2	$	5,124.2	$	7,452.1	$	(14,130.3)	$	9,060.2

CONDENSED STATEMENTS OF CONSOLIDATED CASH FLOWS

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS


	Year Ended April 30, 2015
	The J. M. Smucker Company (Parent)		Subsidiary Guarantors		Non-Guarantor Subsidiaries		Eliminations		Consolidated
Net Cash Provided by Operating Activities	$	239.2	$	87.8	$	406.2	$	—	$	733.2

Investing Activities
Businesses acquired, net of cash acquired		(1,240.0)		—		(80.5)		—		(1,320.5)
Additions to property, plant, and equipment		(56.3)		(93.3)		(98.1)		—		(247.7)
Proceeds from disposal of property, plant, and equipment		—		1.1		1.5		—		2.6
Equity investments in subsidiaries		(2,715.3)		—		—		2,715.3		—
Repayments from (disbursements of) intercompany loans		—		10.2		(297.5)		287.3		—
Other - net		—		(5.8)		(24.3)		—		(30.1)

Net Cash (Used for) Provided by Investing Activities		(4,011.6)		(87.8)		(498.9)		3,002.6		(1,595.7)

Financing Activities
Short-term repayments - net		(5.3)		—		(17.1)		—		(22.4)
Proceeds from long-term debt		5,382.5		—		—		—		5,382.5
Repayments of long-term debt, including make-whole payments		(1,580.8)		—		(2,613.1)		—		(4,193.9)
Quarterly dividends paid		(254.0)		—		—		—		(254.0)
Purchase of treasury shares		(24.3)		—		—		—		(24.3)
Proceeds from stock option exercises		0.8		—		—		—		0.8
Investments in subsidiaries		—		—		2,715.3		(2,715.3)		—
Intercompany payable		287.3		—		—		(287.3)		—
Other - net		(33.5)		—		8.0		—		(25.5)

Net Cash Provided by (Used for) Financing Activities		3,772.7		—		93.1		(3,002.6)		863.2
Effect of exchange rate changes on cash		—		—		(28.6)		—		(28.6)

Net decrease in cash and cash equivalents		0.3		—		(28.2)		—		(27.9)
Cash and cash equivalents at beginning of year		6.8		—		146.7		—		153.5

Cash and Cash Equivalents at End of Year	$	7.1	$	—	$	118.5	$	—	$	125.6

( )	Denotes use of cash

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS


	Year Ended April 30, 2014
	The J. M. Smucker Company (Parent)		Subsidiary Guarantors		Non-Guarantor Subsidiaries		Eliminations		Consolidated
Net Cash Provided by Operating Activities	$	297.8	$	168.5	$	389.7	$	—	$	856.0

Investing Activities
Businesses acquired, net of cash acquired		—		—		(101.8)		—		(101.8)
Additions to property, plant, and equipment		(31.1)		(163.2)		(85.2)		—		(279.5)
Sales and maturities of marketable securities		10.0		—		—		—		10.0
Proceeds from disposal of property, plant, and equipment		—		0.6		10.1		—		10.7
Equity investments in subsidiaries		(108.9)		(17.1)		—		126.0		—
Repayments from (disbursements of) intercompany loans		—		9.3		(283.0)		273.7		—
Other - net		(3.2)		0.2		(6.7)		—		(9.7)

Net Cash (Used for) Provided by Investing Activities		(133.2)		(170.2)		(466.6)		399.7		(370.3)

Financing Activities
Short-term borrowing - net		248.4		—		—		—		248.4
Repayments of long-term debt		(50.0)		—		—		—		(50.0)
Quarterly dividends paid		(238.0)		—		—		—		(238.0)
Purchase of treasury shares		(508.5)		—		—		—		(508.5)
Proceeds from stock option exercises		0.5		—		—		—		0.5
Investments in subsidiaries		—		—		126.0		(126.0)		—
Intercompany payable		273.7		—		—		(273.7)		—
Other - net		8.1		1.7		(37.7)		—		(27.9)

Net Cash (Used for) Provided by Financing Activities		(265.8)		1.7		88.3		(399.7)		(575.5)
Effect of exchange rate changes on cash		—		—		(13.1)		—		(13.1)

Net decrease in cash and cash equivalents		(101.2)		—		(1.7)		—		(102.9)
Cash and cash equivalents at beginning of year		108.0		—		148.4		—		256.4

Cash and Cash Equivalents at End of Year	$	6.8	$	—	$	146.7	$	—	$	153.5

( )	Denotes use of cash

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS


	Year Ended April 30, 2013
	The J. M. Smucker Company (Parent)		Subsidiary Guarantors		Non-Guarantor Subsidiaries		Eliminations		Consolidated
Net Cash Provided by Operating Activities	$	201.7	$	46.4	$	607.7	$	—	$	855.8

Investing Activities
Additions to property, plant, and equipment		(33.6)		(103.1)		(69.8)		—		(206.5)
Proceeds from disposal of property, plant, and equipment		—		0.1		3.2		—		3.3
Equity investments in subsidiaries		(3.7)		(174.2)		—		177.9		—
Repayments from (disbursements of) intercompany loans		—		227.4		(693.6)		466.2		—
Other - net		(9.5)		3.4		23.7		—		17.6

Net Cash (Used for) Provided by Investing Activities		(46.8)		(46.4)		(736.5)		644.1		(185.6)

Financing Activities
Repayments of long-term debt		(50.0)		—		—		—		(50.0)
Quarterly dividends paid		(222.8)		—		—		—		(222.8)
Purchase of treasury shares		(364.2)		—		—		—		(364.2)
Proceeds from stock option exercises		2.2		—		—		—		2.2
Investments in subsidiaries		9.9		—		168.0		(177.9)		—
Intercompany payable		466.2		—		—		(466.2)		—
Other - net		3.5		—		(9.7)		—		(6.2)

Net Cash (Used for) Provided by Financing Activities		(155.2)		—		158.3		(644.1)		(641.0)
Effect of exchange rate changes on cash		—		—		(2.5)		—		(2.5)

Net (decrease) increase in cash and cash equivalents		(0.3)		—		27.0		—		26.7
Cash and cash equivalents at beginning of year		108.3		—		121.4		—		229.7

Cash and Cash Equivalents at End of Year	$	108.0	$	—	$	148.4	$	—	$	256.4

( )	Denotes use of cash