Exhibit 99.1
The J. M. Smucker Company
Unaudited Reportable Segments Supplemental Information
(Revised to Reflect the New Segment Profit Definition)
|
| | | | | | | |
| | Three Months Ended July 31,
|
| | 2015 | | 2014 |
| | (Dollars in millions) |
| Segment profit: | | | |
| U.S. Retail Coffee | $ | 173.8 |
| | $ | 155.8 |
|
| U.S. Retail Consumer Foods | 119.4 |
| | 119.5 |
|
| U.S. Retail Pet Foods | 116.8 |
| | — |
|
| International and Foodservice | 36.1 |
| | 35.8 |
|
| Total segment profit | $ | 446.1 |
| | $ | 311.1 |
|
| Amortization | (53.0 | ) | | (24.9 | ) |
| Interest expense – net | (44.4 | ) | | (17.4 | ) |
| Unallocated derivative losses | (10.0 | ) | | (21.4 | ) |
Cost of products sold – special project costs (A) | (3.1 | ) | | (0.4 | ) |
Other special project costs (A) | (22.9 | ) | | (8.6 | ) |
| Corporate administrative expenses | (90.0 | ) | | (64.2 | ) |
| Other income – net | 0.1 |
| | 1.3 |
|
| Income before income taxes | $ | 222.8 |
| | $ | 175.5 |
|
|
| | | | | | | | | | | | | | | |
| | Three Months Ended October 31, | | Six Months Ended October 31, |
| | 2015 | | 2014 | | 2015 | | 2014 |
| | (Dollars in millions) |
| Segment profit: | | | | | | | |
| U.S. Retail Coffee | $ | 180.4 |
| | $ | 169.4 |
| | $ | 354.2 |
| | $ | 325.2 |
|
| U.S. Retail Consumer Foods | 127.3 |
| | 127.3 |
| | 246.7 |
| | 246.8 |
|
| U.S. Retail Pet Foods | 115.0 |
| | — |
| | 231.8 |
| | — |
|
| International and Foodservice | 55.6 |
| | 42.9 |
| | 91.7 |
| | 78.7 |
|
| Total segment profit | $ | 478.3 |
| | $ | 339.6 |
| | $ | 924.4 |
| | $ | 650.7 |
|
| Amortization | (53.0 | ) | | (25.2 | ) | | (106.0 | ) | | (50.1 | ) |
| Interest expense – net | (42.6 | ) | | (16.2 | ) | | (87.0 | ) | | (33.6 | ) |
| Unallocated derivative gains (losses) | 6.0 |
| | 7.6 |
| | (4.0 | ) | | (13.8 | ) |
Cost of products sold – special project costs (A) | (3.0 | ) | | (0.3 | ) | | (6.1 | ) | | (0.7 | ) |
Other special project costs (A) | (30.6 | ) | | (2.8 | ) | | (53.5 | ) | | (11.4 | ) |
| Corporate administrative expenses | (83.9 | ) | | (64.1 | ) | | (173.9 | ) | | (128.3 | ) |
| Other (expense) income – net | (1.6 | ) | | 0.3 |
| | (1.5 | ) | | 1.6 |
|
| Income before income taxes | $ | 269.6 |
| | $ | 238.9 |
| | $ | 492.4 |
| | $ | 414.4 |
|
(A) Special project costs includes merger and integration and restructuring costs.
The J. M. Smucker Company
Unaudited Reportable Segments Supplemental Information
(Revised to Reflect the New Segment Profit Definition)
|
| | | | | | | | | | | | | | | |
| | Three Months Ended January 31, | | Nine Months Ended January 31, |
| | 2016 | | 2015 | | 2016 | | 2015 |
| | (Dollars in millions) |
| Segment profit: | | | | | | | |
| U.S. Retail Coffee | $ | 194.6 |
| | $ | 168.7 |
| | $ | 548.8 |
| | $ | 493.9 |
|
| U.S. Retail Consumer Foods | 129.1 |
| | 122.4 |
| | 375.8 |
| | 369.2 |
|
| U.S. Retail Pet Foods | 124.0 |
| | — |
| | 355.8 |
| | — |
|
| International and Foodservice | 48.9 |
| | 47.0 |
| | 140.6 |
| | 125.7 |
|
| Total segment profit | $ | 496.6 |
| | $ | 338.1 |
| | $ | 1,421.0 |
| | $ | 988.8 |
|
| Amortization | (52.2 | ) | | (25.2 | ) | | (158.2 | ) | | (75.3 | ) |
| Interest expense – net | (43.6 | ) | | (16.8 | ) | | (130.6 | ) | | (50.4 | ) |
| Unallocated derivative gains (losses) | 6.7 |
| | 13.4 |
| | 2.7 |
| | (0.4 | ) |
Cost of products sold – special project costs (A) | (3.1 | ) | | (0.4 | ) | | (9.2 | ) | | (1.1 | ) |
Other special project costs (A) | (41.4 | ) | | (5.9 | ) | | (94.9 | ) | | (17.3 | ) |
| Corporate administrative expenses | (88.3 | ) | | (64.9 | ) | | (262.2 | ) | | (193.2 | ) |
| Other income (expense) – net | 0.6 |
| | 0.1 |
| | (0.9 | ) | | 1.7 |
|
| Income before income taxes | $ | 275.3 |
| | $ | 238.4 |
| | $ | 767.7 |
| | $ | 652.8 |
|
|
| | | | | | | | | | | | | | | |
| | Three Months Ended April 30, | | Year Ended April 30, |
| | 2016 | | 2015 | | 2016 | | 2015 |
| | (Dollars in millions) |
| Segment profit (loss): | | | | | | | |
| U.S. Retail Coffee | $ | 173.8 |
| | $ | 129.3 |
| | $ | 722.6 |
| | $ | 623.2 |
|
| U.S. Retail Consumer Foods | 91.7 |
| | 96.8 |
| | 467.5 |
| | 466.0 |
|
| U.S. Retail Pet Foods | 138.1 |
| | (6.4 | ) | | 493.9 |
| | (6.4 | ) |
| International and Foodservice | 38.4 |
| | 35.9 |
| | 179.0 |
| | 161.6 |
|
| Total segment profit | $ | 442.0 |
| | $ | 255.6 |
| | $ | 1,863.0 |
| | $ | 1,244.4 |
|
| Amortization | (50.2 | ) | | (35.6 | ) | | (208.4 | ) | | (110.9 | ) |
| Interest expense – net | (40.5 | ) | | (29.5 | ) | | (171.1 | ) | | (79.9 | ) |
| Other debt costs | — |
| | (173.3 | ) | | — |
| | (173.3 | ) |
| Unallocated derivative gains (losses) | 9.3 |
| | (24.1 | ) | | 12.0 |
| | (24.5 | ) |
Cost of products sold – special project costs (A) | (3.0 | ) | | (5.1 | ) | | (12.2 | ) | | (6.2 | ) |
Other special project costs (A) | (41.0 | ) | | (39.3 | ) | | (135.9 | ) | | (56.6 | ) |
| Corporate administrative expenses | (111.0 | ) | | (81.0 | ) | | (373.2 | ) | | (274.2 | ) |
| Other income – net | 4.6 |
| | 2.5 |
| | 3.7 |
| | 4.2 |
|
| Income (loss) before income taxes | $ | 210.2 |
| | $ | (129.8 | ) | | $ | 977.9 |
| | $ | 523.0 |
|
(A) Special project costs includes merger and integration and restructuring costs.
