XML 38 R27.htm IDEA: XBRL DOCUMENT
v3.25.3

Reportable Segments (Tables) | 6 Months Ended
--- | ---
Oct. 31, 2025
Segment Reporting [Abstract] |
Segment information | The following tables reconcile segment profit to income before income taxes.
| Three Months Ended October 31, 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 | $ | 848.9 |  |  | $ | 461.1 |  |  | $ | 413.2 |  |  | $ | 256.1 |  |  | $ | 350.8 |  |  | $ | 2,330.1 |
Segment cost of products sold (A) | 602.1 |  |  | 286.4 |  |  | 224.5 |  |  | 190.3 |  |  | 236.9 |  |  |
Segment selling and distribution expenses (B) | 92.1 |  |  | 71.9 |  |  | 67.8 |  |  | 43.2 |  |  | 38.5 |  |  |
Other segment items (C) | 0.4 |  |  | 0.7 |  |  | (3.5) |  |  | 0.8 |  |  | (1.0) |  |  |
Segment profit | $ | 154.3 |  |  | $ | 102.1 |  |  | $ | 124.4 |  |  | $ | 21.8 |  |  | $ | 76.4 |  |  | $ | 479.0 |
Reconciliation of segment profit: |  |  |  |  |  |  |  |  |  |
Amortization |  |  |  |  |  |  |  | (50.2) |
Interest expense – net |  |  |  |  |  |  |  | (98.6) |
Change in net cumulative unallocated derivative gains and losses |  |  |  |  |  |  |  | 103.0 |
Cost of products sold – special project costs (D) |  |  |  |  |  |  |  | (23.0) |
Other special project costs (D) |  |  |  |  |  |  |  | (5.6) |
Corporate administrative expenses |  |  |  |  |  |  |  | (84.7) |
Other income (expense) – net (D) |  |  |  |  |  |  |  | (1.5) |
Income before income taxes |  |  |  |  |  |  |  | $ | 318.4 |
| Six Months Ended October 31, 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 | $ | 1,566.1 |  |  | $ | 945.8 |  |  | $ | 781.2 |  |  | $ | 509.3 |  |  | $ | 641.0 |  |  | $ | 4,443.4 |
Segment cost of products sold (A) | 1,101.0 |  |  | 585.7 |  |  | 429.3 |  |  | 367.1 |  |  | 427.2 |  |  |
Segment selling and distribution expenses (B) | 176.1 |  |  | 142.7 |  |  | 134.6 |  |  | 84.4 |  |  | 73.9 |  |  |
Other segment items (C) | 0.5 |  |  | 1.0 |  |  | (8.4) |  |  | 1.8 |  |  | (2.0) |  |  |
Segment profit | $ | 288.5 |  |  | $ | 216.4 |  |  | $ | 225.7 |  |  | $ | 56.0 |  |  | $ | 141.9 |  |  | $ | 928.5 |
Reconciliation of segment profit: |  |  |  |  |  |  |  |  |  |
Amortization |  |  |  |  |  |  |  | (100.4) |
Interest expense – net |  |  |  |  |  |  |  | (198.8) |
Change in net cumulative unallocated derivative gains and losses |  |  |  |  |  |  |  | (150.1) |
Cost of products sold – special project costs (D) |  |  |  |  |  |  |  | (38.4) |
Other special project costs (D) |  |  |  |  |  |  |  | (11.6) |
Corporate administrative expenses |  |  |  |  |  |  |  | (163.9) |
Other income (expense) – net (D) |  |  |  |  |  |  |  | (3.4) |
Income before income taxes |  |  |  |  |  |  |  | $ | 261.9 |
| Three Months Ended October 31, 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 | $ | 704.0 |  |  | $ | 485.2 |  |  | $ | 445.4 |  |  | $ | 315.5 |  |  | $ | 321.1 |  |  | $ | 2,271.2 |
Segment cost of products sold (A) | 422.8 |  |  | 296.3 |  |  | 257.9 |  |  | 200.6 |  |  | 213.9 |  |  |
Segment selling and distribution expenses (B) | 78.0 |  |  | 71.9 |  |  | 67.8 |  |  | 43.8 |  |  | 40.9 |  |  |
Other segment items (C) | 0.5 |  |  | 0.9 |  |  | (1.7) |  |  | 0.5 |  |  | (1.7) |  |  |
Segment profit | $ | 202.7 |  |  | $ | 116.1 |  |  | $ | 121.4 |  |  | $ | 70.6 |  |  | $ | 68.0 |  |  | $ | 578.8 |
Reconciliation of segment profit: |  |  |  |  |  |  |  |  |  |
Amortization |  |  |  |  |  |  |  | (55.8) |
Gain (loss) on divestitures – net |  |  |  |  |  |  |  | (260.8) |
Interest expense – net |  |  |  |  |  |  |  | (98.7) |
Change in net cumulative unallocated derivative gains and losses |  |  |  |  |  |  |  | 11.7 |
Cost of products sold – special project costs (D) |  |  |  |  |  |  |  | (5.3) |
Other special project costs (D) |  |  |  |  |  |  |  | (10.7) |
Corporate administrative expenses |  |  |  |  |  |  |  | (88.2) |
Other income (expense) – net |  |  |  |  |  |  |  | (4.2) |
Income before income taxes |  |  |  |  |  |  |  | $ | 66.8 |
| Six Months Ended October 31, 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 | $ | 1,327.4 |  |  | $ | 982.0 |  |  | $ | 845.1 |  |  | $ | 649.2 |  |  | $ | 592.6 |  |  | $ | 4,396.3 |
Segment cost of products sold (A) | 795.7 |  |  | 603.5 |  |  | 476.6 |  |  | 411.0 |  |  | 397.3 |  |  |
Segment selling and distribution expenses (B) | 155.8 |  |  | 142.5 |  |  | 137.7 |  |  | 93.4 |  |  | 81.2 |  |  |
Other segment items (C) | 0.6 |  |  | 0.9 |  |  | (5.9) |  |  | (0.2) |  |  | (2.5) |  |  |
Segment profit | $ | 375.3 |  |  | $ | 235.1 |  |  | $ | 236.7 |  |  | $ | 145.0 |  |  | $ | 116.6 |  |  | $ | 1,108.7 |
Reconciliation of segment profit: |  |  |  |  |  |  |  |  |  |
Amortization |  |  |  |  |  |  |  | (111.8) |
Gain (loss) on divestitures – net |  |  |  |  |  |  |  | (260.8) |
Interest expense – net |  |  |  |  |  |  |  | (199.1) |
Change in net cumulative unallocated derivative gains and losses |  |  |  |  |  |  |  | (18.3) |
Cost of products sold – special project costs (D) |  |  |  |  |  |  |  | (10.6) |
Other special project costs (D) |  |  |  |  |  |  |  | (17.8) |
Corporate administrative expenses |  |  |  |  |  |  |  | (170.2) |
Other income (expense) – net |  |  |  |  |  |  |  | (7.3) |
Income before income taxes |  |  |  |  |  |  |  | $ | 312.8 |
(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 9: Derivative Financial Instruments. (B) Segment selling and distribution expenses 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. (D) Includes special project costs related to certain divestiture, acquisition, integration, and restructuring activities. For more information, see Note 4: Special Project Costs. The following tables present total assets; total depreciation, amortization, and impairment charges; and total additions to property, plant, and equipment by segment.
|  |  |  |  | October 31, 2025 |  | April 30, 2025
Assets: |  |  |  |  |  |  |
U.S. Retail Coffee |  |  |  |  | $ | 4,857.5 |  |  | $ | 4,927.8 |
U.S. Retail Frozen Handheld and Spreads |  |  |  |  | 3,288.9 |  |  | 3,263.1 |
U.S. Retail Pet Foods |  |  |  |  | 4,687.2 |  |  | 4,679.3 |
Sweet Baked Snacks |  |  |  |  | 3,343.9 |  |  | 3,394.9 |
International and Away From Home |  |  |  |  | 1,238.2 |  |  | 1,037.1 |
Unallocated (A) |  |  |  |  | 212.6 |  |  | 261.1 |
Total assets |  |  |  |  | $ | 17,628.3 |  |  | $ | 17,563.3 |
| Three Months Ended October 31, |  | Six Months Ended October 31,
| 2025 |  | 2024 |  | 2025 |  | 2024
Depreciation, amortization, and impairment charges: |  |  |  |  |  |  |
U.S. Retail Coffee | $ | 24.3 |  |  | $ | 24.4 |  |  | $ | 48.7 |  |  | $ | 48.8 |
U.S. Retail Frozen Handheld and Spreads | 24.9 |  |  | 20.5 |  |  | 50.0 |  |  | 41.1 |
U.S. Retail Pet Foods | 30.6 |  |  | 29.8 |  |  | 60.9 |  |  | 59.8 |
Sweet Baked Snacks | 22.4 |  |  | 29.0 |  |  | 44.3 |  |  | 58.9 |
International and Away From Home | 10.0 |  |  | 8.8 |  |  | 20.2 |  |  | 17.8 |
Unallocated (B) | 31.1 |  |  | 15.5 |  |  | 54.4 |  |  | 30.6 |
Total depreciation, amortization, and impairment charges | $ | 143.3 |  |  | $ | 128.0 |  |  | $ | 278.5 |  |  | $ | 257.0 |
Additions to property, plant, and equipment: |  |  |  |  |  |  |
U.S. Retail Coffee | $ | 7.3 |  |  | $ | 7.2 |  |  | $ | 18.8 |  |  | $ | 30.6 |
U.S. Retail Frozen Handheld and Spreads | 18.7 |  |  | 36.7 |  |  | 58.8 |  |  | 85.5 |
U.S. Retail Pet Foods | 10.1 |  |  | 19.9 |  |  | 21.5 |  |  | 44.1 |
Sweet Baked Snacks | 18.8 |  |  | 13.5 |  |  | 29.0 |  |  | 26.7 |
International and Away From Home | 11.4 |  |  | 9.7 |  |  | 22.5 |  |  | 23.8 |
Total additions to property, plant, and equipment | $ | 66.3 |  |  | $ | 87.0 |  |  | $ | 150.6 |  |  | $ | 210.7 |
(A)Primarily represents unallocated cash and cash equivalents and corporate-held investments. (B)Primarily represents unallocated accelerated depreciation related to restructuring activities and corporate administrative expenses, mainly consisting of depreciation and software amortization.
Geographical information | The following table presents certain geographical information.
| Three Months Ended October 31, |  | Six Months Ended October 31,
| 2025 |  | 2024 |  | 2025 |  | 2024
Net sales: |  |  |  |  |  |  |
United States | $ | 2,202.4 |  |  | $ | 2,136.2 |  |  | $ | 4,211.8 |  |  | $ | 4,151.6 |
International: |  |  |  |  |  |  |
Canada | $ | 94.5 |  |  | $ | 100.7 |  |  | $ | 165.2 |  |  | $ | 182.1 |
All other international | 33.2 |  |  | 34.3 |  |  | 66.4 |  |  | 62.6 |
Total international | $ | 127.7 |  |  | $ | 135.0 |  |  | $ | 231.6 |  |  | $ | 244.7 |
Total net sales | $ | 2,330.1 |  |  | $ | 2,271.2 |  |  | $ | 4,443.4 |  |  | $ | 4,396.3 |
Product category information | The following table presents product category information.
| Three Months Ended October 31, |  | Six Months Ended October 31, |  |
| 2025 |  | 2024 |  | 2025 |  | 2024 |  | Primary Reportable Segment (A)
Coffee | $ | 966.5 |  |  | $ | 797.0 |  |  | $ | 1,782.6 |  |  | $ | 1,508.9 |  |  | U.S. Retail Coffee
Sweet baked goods | 256.1 |  |  | 279.2 |  |  | 509.3 |  |  | 575.8 |  |  | Sweet Baked Snacks
Frozen handheld | 262.9 |  |  | 246.5 |  |  | 507.0 |  |  | 469.1 |  |  | U.S. Retail Frozen Handheld and Spreads
Pet snacks | 232.0 |  |  | 255.2 |  |  | 435.4 |  |  | 482.0 |  |  | U.S. Retail Pet Foods
Peanut butter | 187.1 |  |  | 213.8 |  |  | 394.1 |  |  | 432.4 |  |  | U.S. Retail Frozen Handheld and Spreads
Cat food | 197.2 |  |  | 200.8 |  |  | 376.5 |  |  | 383.9 |  |  | U.S. Retail Pet Foods
Fruit spreads | 92.2 |  |  | 101.7 |  |  | 187.5 |  |  | 208.2 |  |  | U.S. Retail Frozen Handheld and Spreads
Portion control | 50.1 |  |  | 56.8 |  |  | 100.5 |  |  | 110.9 |  |  | Other (B)
Toppings and syrups | 26.5 |  |  | 20.3 |  |  | 56.2 |  |  | 48.6 |  |  | U.S. Retail Frozen Handheld and Spreads
Baking mixes and ingredients | 28.6 |  |  | 28.9 |  |  | 43.1 |  |  | 43.1 |  |  | Other (B)
Cookies | — |  |  | 36.3 |  |  | — |  |  | 73.4 |  |  | Sweet Baked Snacks
Other | 30.9 |  |  | 34.7 |  |  | 51.2 |  |  | 60.0 |  |  | Other (B)
Total net sales | $ | 2,330.1 |  |  | $ | 2,271.2 |  |  | $ | 4,443.4 |  |  | $ | 4,396.3 |  |  |
(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.

X
- Definition Tabular disclosure of revenue from external customers by geographic areas attributed to the entity's country of domicile and to foreign countries from which the entity derives revenue. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-41 + Details
Name: | us-gaap_RevenueFromExternalCustomersByGeographicAreasTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of entity-wide revenues from external customers for each product or service or each group of similar products or services if the information is not provided as part of the reportable operating segment information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-40 + Details
Name: | us-gaap_ScheduleOfEntityWideInformationRevenueFromExternalCustomersByProductsAndServicesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration