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v3.25.2

Reportable Segments (Tables) | 12 Months Ended
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Apr. 30, 2025
Segment Reporting [Abstract] |
Segment information | The following tables reconcile segment profit to income before income taxes.
| Year Ended April 30, 2025
| U.S. Retail Coffee |  | U.S. Retail Frozen Handheld and Spreads |  | U.S. Retail Pet Foods |  | Sweet Baked Snacks |  | International and Away From Home |  | Total
Net sales | $ | 2,806.6 |  |  | $ | 1,877.0 |  |  | $ | 1,663.6 |  |  | $ | 1,178.8 |  |  | $ | 1,200.1 |  |  | $ | 8,726.1 |
Segment cost of products sold (A) | 1,709.3 |  |  | 1,167.5 |  |  | 936.0 |  |  | 779.9 |  |  | 797.8 |  |  |
Segment selling and distribution expense (B) | 308.4 |  |  | 276.7 |  |  | 281.5 |  |  | 181.8 |  |  | 158.1 |  |  |
Other segment items (C) | (6.2) |  |  | 7.5 |  |  | (13.5) |  |  | (2.7) |  |  | (3.2) |  |  |
Segment profit | $ | 795.1 |  |  | $ | 425.3 |  |  | $ | 459.6 |  |  | $ | 219.8 |  |  | $ | 247.4 |  |  | $ | 2,147.2 |
Reconciliation of segment profit: |  |  |  |  |  |  |  |  |  |
Amortization |  |  |  |  |  |  |  | (219.3) |
Goodwill impairment charges |  |  |  |  |  |  |  | (1,661.6) |
Other intangible assets impairment charges |  |  |  |  |  |  |  | (320.9) |
Gain (loss) on divestitures – net |  |  |  |  |  |  |  | (310.1) |
Interest expense – net |  |  |  |  |  |  |  | (388.7) |
Change in net cumulative unallocated derivative gains and losses |  |  |  |  |  |  |  | 58.2 |
Cost of products sold – special project costs (D) |  |  |  |  |  |  |  | (9.1) |
Other special project costs (D) |  |  |  |  |  |  |  | (35.8) |
Other debt gains (charges) – net (D) |  |  |  |  |  |  |  | 30.2 |
Corporate administrative expenses |  |  |  |  |  |  |  | (322.5) |
Other income (expense) – net (D) |  |  |  |  |  |  |  | (14.4) |
Income (loss) before income taxes |  |  |  |  |  |  |  | $ | (1,046.8) |
| Year Ended April 30, 2024
| U.S. Retail Coffee |  | U.S. Retail Frozen Handheld and Spreads |  | U.S. Retail Pet Foods |  | Sweet Baked Snacks |  | International and Away From Home |  | Total
Net sales | $ | 2,704.4 |  |  | $ | 1,815.6 |  |  | $ | 1,822.8 |  |  | $ | 637.3 |  |  | $ | 1,198.6 |  |  | $ | 8,178.7 |
Segment cost of products sold (A) | 1,572.8 |  |  | 1,118.8 |  |  | 1,131.7 |  |  | 410.0 |  |  | 833.8 |  |  |
Segment selling and distribution expense (B) | 330.1 |  |  | 261.8 |  |  | 296.7 |  |  | 89.9 |  |  | 158.3 |  |  |
Other segment items (C) | 42.3 |  |  | 0.9 |  |  | (7.7) |  |  | (0.8) |  |  | (1.6) |  |  |
Segment profit | $ | 759.2 |  |  | $ | 434.1 |  |  | $ | 402.1 |  |  | $ | 138.2 |  |  | $ | 208.1 |  |  | $ | 1,941.7 |
Reconciliation of segment profit: |  |  |  |  |  |  |  |  |  |
Amortization |  |  |  |  |  |  |  | (191.1) |
Gain (loss) on divestitures – net |  |  |  |  |  |  |  | (12.9) |
Interest expense – net |  |  |  |  |  |  |  | (264.3) |
Change in net cumulative unallocated derivative gains and losses |  |  |  |  |  |  |  | 6.7 |
Cost of products sold – special project costs (D) |  |  |  |  |  |  |  | (2.9) |
Other special project costs (D) |  |  |  |  |  |  |  | (130.2) |
Other debt gains (charges) – net (D) |  |  |  |  |  |  |  | (19.5) |
Corporate administrative expenses |  |  |  |  |  |  |  | (305.5) |
Other income (expense) – net (D) |  |  |  |  |  |  |  | (25.6) |
Income (loss) before income taxes |  |  |  |  |  |  |  | $ | 996.4 |
| Year Ended April 30, 2023
| U.S. Retail Coffee |  | U.S. Retail Frozen Handheld and Spreads |  | U.S. Retail Pet Foods (E) |  | Sweet Baked Snacks |  | International and Away From Home |  | Total
Net sales | $ | 2,735.3 |  |  | $ | 1,630.9 |  |  | $ | 3,038.1 |  |  | $ | — |  |  | $ | 1,124.9 |  |  | $ | 8,529.2 |
Segment cost of products sold (A) | 1,680.4 |  |  | 1,078.1 |  |  | 2,100.8 |  |  | — |  |  | 840.3 |  |  |
Segment selling and distribution expense (B) | 315.6 |  |  | 217.1 |  |  | 457.1 |  |  | — |  |  | 146.9 |  |  |
Other segment items (C) | 1.6 |  |  | (16.9) |  |  | (14.7) |  |  | — |  |  | (5.6) |  |  |
Segment profit | $ | 737.7 |  |  | $ | 352.6 |  |  | $ | 494.9 |  |  | $ | — |  |  | $ | 143.3 |  |  | $ | 1,728.5 |
Reconciliation of segment profit: |  |  |  |  |  |  |  |  |  |  |
Amortization |  |  |  |  |  |  |  | (206.9) |
Gain (loss) on divestitures – net |  |  |  |  |  |  |  | (1,018.5) |
Interest expense – net |  |  |  |  |  |  |  | (152.0) |
Change in net cumulative unallocated derivative gains and losses |  |  |  |  |  |  |  | (21.4) |
Cost of products sold – special project costs (D) |  |  |  |  |  |  |  | (6.4) |
Other special project costs (D) |  |  |  |  |  |  |  | (4.7) |
Corporate administrative expenses |  |  |  |  |  |  |  | (313.1) |
Other income (expense) – net (D) |  |  |  |  |  |  |  | (14.7) |
Income (loss) before income taxes |  |  |  |  |  |  |  | $ | (9.2) |
(A) Segment cost of products sold excludes special project costs related to certain divestiture, acquisition, integration, and restructuring activities and the change in net cumulative unallocated derivative gains and losses. For more information, see Note 4: Special Project Costs and Note 10: Derivative Financial Instruments. (B) Segment selling and distribution expense excludes corporate administrative expenses and special project costs that are not allocated to the segments. (C) Other segment items primarily reflects the loss (gain) on disposal of assets, plant administrative expenses, equity method investment income, and royalty income. In 2024, the U.S. Retail Coffee segment includes an unfavorable impact related to the termination of a supplier agreement. In 2023, the U.S. Frozen Handheld and Spreads segment includes a favorable impact related to the J if peanut butter recall. (D) Includes special project costs related to certain divestiture, acquisition, integration, and restructuring activities. For more information, see Note 4: Special Project Costs and Note 8: Debt and Financing Arrangements. (E) 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. For more information, see Note 3: Divestitures. The following table presents total assets; total depreciation, amortization, and impairment charges; and total additions to property, plant, and equipment by segment.
| Year Ended April 30,
| 2025 |  | 2024 |  | 2023
Assets: |  |  |  |  |
U.S. Retail Coffee | $ | 4,927.8 |  |  | $ | 4,826.3 |  |  | $ | 4,808.9 |
U.S. Retail Frozen Handheld and Spreads | 3,263.1 |  |  | 3,257.1 |  |  | 2,972.7 |
U.S. Retail Pet Foods | 4,679.3 |  |  | 4,784.1 |  |  | 4,994.3 |
Sweet Baked Snacks | 3,394.9 |  |  | 6,267.1 |  |  | — |
International and Away From Home | 1,037.1 |  |  | 989.6 |  |  | 978.3 |
Unallocated (A) | 261.1 |  |  | 149.5 |  |  | 1,237.2 |
Total assets | $ | 17,563.3 |  |  | $ | 20,273.7 |  |  | $ | 14,991.4 |
Depreciation, amortization, and impairment charges: |  |  |  |  |
U.S. Retail Coffee | $ | 97.9 |  |  | $ | 101.1 |  |  | $ | 101.6 |
U.S. Retail Frozen Handheld and Spreads | 90.8 |  |  | 81.6 |  |  | 76.3 |
U.S. Retail Pet Foods | 121.3 |  |  | 118.1 |  |  | 178.7 |
Sweet Baked Snacks (B) | 2,092.0 |  |  | 59.6 |  |  | — |
International and Away From Home | 37.4 |  |  | 32.4 |  |  | 31.7 |
Unallocated (C) | 45.6 |  |  | 38.0 |  |  | 42.7 |
Total depreciation, amortization, and impairment charges | $ | 2,485.0 |  |  | $ | 430.8 |  |  | $ | 431.0 |
Additions to property, plant, and equipment: |  |  |  |  |
U.S. Retail Coffee | $ | 62.7 |  |  | $ | 79.7 |  |  | $ | 49.0 |
U.S. Retail Frozen Handheld and Spreads | 157.6 |  |  | 334.5 |  |  | 341.6 |
U.S. Retail Pet Foods | 83.2 |  |  | 83.4 |  |  | 64.3 |
Sweet Baked Snacks | 43.0 |  |  | 41.2 |  |  | — |
International and Away From Home | 47.3 |  |  | 47.7 |  |  | 22.5 |
Total additions to property, plant, and equipment | $ | 393.8 |  |  | $ | 586.5 |  |  | $ | 477.4 |
(A)Primarily represents unallocated cash and cash equivalents and corporate-held investments. (B)During 2025, we recognized pre-tax impairment charges of $1,661.6 and $320.9 related to the goodwill of the Sweet Baked Snacks reporting unit and Hostess brand indefinite-lived trademark, respectively. For more information, see Note 7: Goodwill and Other Intangible Assets. (C)Primarily represents unallocated corporate administrative expenses, mainly consisting of depreciation and software amortization.
Geographical information | The following table presents certain geographical information.
| Year Ended April 30,
| 2025 |  | 2024 |  | 2023
Net sales: |  |  |  |  |
United States | $ | 8,245.7 |  |  | $ | 7,653.0 |  |  | $ | 8,001.4 |
International: |  |  |  |  |
Canada | $ | 352.4 |  |  | $ | 429.4 |  |  | $ | 433.2 |
All other international | 128.0 |  |  | 96.3 |  |  | 94.6 |
Total international | $ | 480.4 |  |  | $ | 525.7 |  |  | $ | 527.8 |
Total net sales | $ | 8,726.1 |  |  | $ | 8,178.7 |  |  | $ | 8,529.2 |
Assets: |  |  |  |  |
United States | $ | 17,190.0 |  |  | $ | 19,483.1 |  |  | $ | 14,577.5 |
International: |  |  |  |  |
Canada | $ | 373.0 |  |  | $ | 790.2 |  |  | $ | 412.5 |
All other international | 0.3 |  |  | 0.4 |  |  | 1.4 |
Total international | $ | 373.3 |  |  | $ | 790.6 |  |  | $ | 413.9 |
Total assets | $ | 17,563.3 |  |  | $ | 20,273.7 |  |  | $ | 14,991.4 |
Long-lived assets (excluding goodwill and other intangible assets): |  |  |  |  |
United States | $ | 3,308.4 |  |  | $ | 3,294.5 |  |  | $ | 2,421.9 |
International: |  |  |  |  |
Canada | $ | 51.3 |  |  | $ | 106.9 |  |  | $ | 64.6 |
All other international | 0.1 |  |  | 0.1 |  |  | — |
Total international | $ | 51.4 |  |  | $ | 107.0 |  |  | $ | 64.6 |
Total long-lived assets (excluding goodwill and other intangible assets) | $ | 3,359.8 |  |  | $ | 3,401.5 |  |  | $ | 2,486.5 |
Product category information | The following table presents product category information.
| Year Ended April 30, |  |
| 2025 |  | 2024 |  | 2023 |  | Primary Reportable Segment (A)
Coffee | $ | 3,173.8 |  |  | $ | 3,063.0 |  |  | $ | 3,088.8 |  |  | U.S. Retail Coffee
Sweet Baked Goods | 1,093.0 |  |  | 572.5 |  |  | — |  |  | Sweet Baked Snacks
Pet snacks | 944.7 |  |  | 1,024.8 |  |  | 1,052.4 |  |  | U.S. Retail Pet Foods
Frozen handheld | 918.2 |  |  | 791.1 |  |  | 686.4 |  |  | U.S. Retail Frozen Handheld and Spreads
Peanut butter | 827.8 |  |  | 814.1 |  |  | 635.6 |  |  | U.S. Retail Frozen Handheld and Spreads
Cat food | 763.5 |  |  | 792.4 |  |  | 1,101.1 |  |  | U.S. Retail Pet Foods
Fruit spreads | 400.8 |  |  | 427.2 |  |  | 426.2 |  |  | U.S. Retail Frozen Handheld and Spreads
Portion control | 211.9 |  |  | 207.9 |  |  | 163.7 |  |  | Other (B)
Toppings and syrups | 96.8 |  |  | 88.4 |  |  | 88.9 |  |  | U.S. Retail Frozen Handheld and Spreads
Baking mixes and ingredients | 88.1 |  |  | 90.3 |  |  | 94.3 |  |  | Other (B)
Cookies | 86.3 |  |  | 64.8 |  |  | — |  |  | Sweet Baked Snacks
Dog food | 24.4 |  |  | 76.4 |  |  | 980.0 |  |  | U.S. Retail Pet Foods
Other | 96.8 |  |  | 165.8 |  |  | 211.8 |  |  | Other (B)
Total net sales | $ | 8,726.1 |  |  | $ | 8,178.7 |  |  | $ | 8,529.2 |  |  |
(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.

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- Definition Tabular disclosure of information concerning material long-lived assets (excluding financial instruments, customer relationships with financial institutions, mortgage and other servicing rights, deferred policy acquisition costs, and deferred taxes assets) located in identified geographic areas and/or the amount of revenue from external customers attributed to that country from which revenue is material. An entity may also provide subtotals of geographic information about groups of countries. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(1)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-41 + Details
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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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