Exhibit 99.1
The J. M. Smucker Company
Unaudited Reportable Segments Supplemental Information
(Recalculated to be Consistent with Fiscal 2011 Methodology)
| | | | | | | | |
| | Three Months Ended July 31, | |
| | 2009 | | | 2008 | |
Net sales: | | | | | | | | |
U.S. Retail Coffee Market | | $ | 366,229 | | | $ | — | |
U.S. Retail Consumer Market | | | 291,002 | | | | 273,976 | |
U.S. Retail Oils and Baking Market | | | 194,416 | | | | 198,165 | |
Special Markets | | | 199,879 | | | | 191,516 | |
| | | | | | |
Total net sales | | $ | 1,051,526 | | | $ | 663,657 | |
| | | | | | |
| | | | | | | | |
Segment profit: | | | | | | | | |
U.S. Retail Coffee Market | | $ | 111,167 | | | $ | — | |
U.S. Retail Consumer Market | | | 66,123 | | | | 60,094 | |
U.S. Retail Oils and Baking Market | | | 25,680 | | | | 26,510 | |
Special Markets | | | 26,694 | | | | 21,049 | |
| | | | | | |
Total segment profit | | $ | 229,664 | | | $ | 107,653 | |
| | | | | | |
Interest income | | | 1,371 | | | | 1,338 | |
Interest expense | | | (18,951 | ) | | | (10,744 | ) |
Share-based compensation expense | | | (4,553 | ) | | | (2,799 | ) |
Merger and integration costs | | | (16,476 | ) | | | (3,400 | ) |
Other restructuring costs | | | — | | | | (519 | ) |
Corporate administrative expense | | | (39,801 | ) | | | (28,892 | ) |
Other unallocated (expense) income | | | (20 | ) | | | 810 | |
| | | | | | |
Income before income taxes | | $ | 151,234 | | | $ | 63,447 | |
| | | | | | |
| | | | | | | | |
Segment profit margin: | | | | | | | | |
U.S. Retail Coffee Market | | | 30.4 | % | | | n/a | |
U.S. Retail Consumer Market | | | 22.7 | % | | | 21.9 | % |
U.S. Retail Oils and Baking Market | | | 13.2 | % | | | 13.4 | % |
Special Markets | | | 13.4 | % | | | 11.0 | % |
The J. M. Smucker Company
Unaudited Reportable Segments Supplemental Information
(Recalculated to be Consistent with Fiscal 2011 Methodology)
| | | | | | | | | | | | | | | | |
| | Three Months Ended October 31, | | | Six Months Ended October 31, | |
| | 2009 | | | 2008 | | | 2009 | | | 2008 | |
| | | | | | (Dollars in thousands) | | | | | |
Net sales: | | | | | | | | | | | | | | | | |
U.S. Retail Coffee Market | | $ | 445,102 | | | $ | — | | | $ | 811,331 | | | $ | — | |
U.S. Retail Consumer Market | | | 290,090 | | | | 301,701 | | | | 581,092 | | | | 575,677 | |
U.S. Retail Oils and Baking Market | | | 303,896 | | | | 333,287 | | | | 498,312 | | | | 531,452 | |
Special Markets | | | 239,657 | | | | 208,154 | | | | 439,536 | | | | 399,670 | |
| | | | | | | | | | | | |
Total net sales | | $ | 1,278,745 | | | $ | 843,142 | | | $ | 2,330,271 | | | $ | 1,506,799 | |
| | | | | | | | | | | | |
| | | | | | | | | | | | | | | | |
Segment profit: | | | | | | | | | | | | | | | | |
U.S. Retail Coffee Market | | $ | 131,850 | | | $ | — | | | $ | 243,017 | | | $ | — | |
U.S. Retail Consumer Market | | | 70,512 | | | | 68,358 | | | | 136,635 | | | | 128,452 | |
U.S. Retail Oils and Baking Market | | | 45,398 | | | | 29,904 | | | | 71,078 | | | | 56,414 | |
Special Markets | | | 40,003 | | | | 25,818 | | | | 66,697 | | | | 46,867 | |
| | | | | | | | | | | | |
Total segment profit | | $ | 287,763 | | | $ | 124,080 | | | $ | 517,427 | | | $ | 231,733 | |
| | | | | | | | | | | | |
Interest income | | | 686 | | | | 1,901 | | | | 2,057 | | | | 3,239 | |
Interest expense | | | (17,473 | ) | | | (11,314 | ) | | | (36,424 | ) | | | (22,058 | ) |
Share-based compensation expense | | | (5,268 | ) | | | (3,236 | ) | | | (9,821 | ) | | | (6,035 | ) |
Merger and integration costs | | | (8,148 | ) | | | (6,210 | ) | | | (24,624 | ) | | | (9,610 | ) |
Other restructuring costs | | | — | | | | (127 | ) | | | — | | | | (646 | ) |
Corporate administrative expense | | | (43,141 | ) | | | (27,736 | ) | | | (82,942 | ) | | | (56,628 | ) |
Other unallocated income (expense) | | | 583 | | | | (133 | ) | | | 563 | | | | 677 | |
| | | | | | | | | | | | |
Income before income taxes | | $ | 215,002 | | | $ | 77,225 | | | $ | 366,236 | | | $ | 140,672 | |
| | | | | | | | | | | | |
| | | | | | | | | | | | | | | | |
Segment profit margin: | | | | | | | | | | | | | | | | |
U.S. Retail Coffee Market | | | 29.6 | % | | | n/a | | | | 30.0 | % | | | n/a | |
U.S. Retail Consumer Market | | | 24.3 | % | | | 22.7 | % | | | 23.5 | % | | | 22.3 | % |
U.S. Retail Oils and Baking Market | | | 14.9 | % | | | 9.0 | % | | | 14.3 | % | | | 10.6 | % |
Special Markets | | | 16.7 | % | | | 12.4 | % | | | 15.2 | % | | | 11.7 | % |
The J. M. Smucker Company
Unaudited Reportable Segments Supplemental Information
(Recalculated to be Consistent with Fiscal 2011 Methodology)
| | | | | | | | | | | | | | | | |
| | Three Months Ended January 31, | | | Nine Months Ended January 31, | |
| | 2010 | | | 2009 | | | 2010 | | | 2009 | |
| | | | | | (Dollars in thousands) | | | | | |
Net sales: | | | | | | | | | | | | | | | | |
U.S. Retail Coffee Market | | $ | 471,463 | | | $ | 431,997 | | | $ | 1,282,794 | | | $ | 431,997 | |
U.S. Retail Consumer Market | | | 273,837 | | | | 270,465 | | | | 854,929 | | | | 846,142 | |
U.S. Retail Oils and Baking Market | | | 244,175 | | | | 278,793 | | | | 742,487 | | | | 810,245 | |
Special Markets | | | 216,464 | | | | 201,339 | | | | 656,000 | | | | 601,009 | |
| | | | | | | | | | | | |
Total net sales | | $ | 1,205,939 | | | $ | 1,182,594 | | | $ | 3,536,210 | | | $ | 2,689,393 | |
| | | | | | | | | | | | |
| | | | | | | | | | | | | | | | |
Segment profit: | | | | | | | | | | | | | | | | |
U.S. Retail Coffee Market | | $ | 132,617 | | | $ | 74,859 | | | $ | 375,634 | | | $ | 74,859 | |
U.S. Retail Consumer Market | | | 66,178 | | | | 62,225 | | | | 202,813 | | | | 190,677 | |
U.S. Retail Oils and Baking Market | | | 35,919 | | | | 45,132 | | | | 106,997 | | | | 101,546 | |
Special Markets | | | 30,686 | | | | 23,158 | | | | 97,383 | | | | 70,025 | |
| | | | | | | | | | | | |
Total segment profit | | $ | 265,400 | | | $ | 205,374 | | | $ | 782,827 | | | $ | 437,107 | |
| | | | | | | | | | | | |
Interest income | | | 310 | | | | 1,822 | | | | 2,367 | | | | 5,061 | |
Interest expense | | | (14,236 | ) | | | (21,959 | ) | | | (50,660 | ) | | | (44,017 | ) |
Share-based compensation expense | | | (4,631 | ) | | | (2,928 | ) | | | (14,452 | ) | | | (8,963 | ) |
Merger and integration costs | | | (4,672 | ) | | | (32,809 | ) | | | (29,296 | ) | | | (42,419 | ) |
Other restructuring costs | | | — | | | | (257 | ) | | | — | | | | (903 | ) |
Corporate administrative expense | | | (46,231 | ) | | | (33,667 | ) | | | (129,173 | ) | | | (90,295 | ) |
Other unallocated income (expense) | | | 1,221 | | | | (1,220 | ) | | | 1,784 | | | | (543 | ) |
| | | | | | | | | | | | |
Income before income taxes | | $ | 197,161 | | | $ | 114,356 | | | $ | 563,397 | | | $ | 255,028 | |
| | | | | | | | | | | | |
| | | | | | | | | | | | | | | | |
Segment profit margin: | | | | | | | | | | | | | | | | |
U.S. Retail Coffee Market | | | 28.1 | % | | | 17.3 | % | | | 29.3 | % | | | 17.3 | % |
U.S. Retail Consumer Market | | | 24.2 | % | | | 23.0 | % | | | 23.7 | % | | | 22.5 | % |
U.S. Retail Oils and Baking Market | | | 14.7 | % | | | 16.2 | % | | | 14.4 | % | | | 12.5 | % |
Special Markets | | | 14.2 | % | | | 11.5 | % | | | 14.8 | % | | | 11.7 | % |
The J. M. Smucker Company
Unaudited Reportable Segments Supplemental Information
(Recalculated to be Consistent with Fiscal 2011 Methodology)
| | | | | | | | | | | | | | | | |
| | Three Months Ended April 30, | | | Year Ended April 30, | |
| | 2010 | | | 2009 | | | 2010 | | | 2009 | |
| | | | | | (Dollars in thousands) | | | | | |
Net sales: | | | | | | | | | | | | | | | | |
U.S. Retail Coffee Market | | $ | 417,664 | | | $ | 423,574 | | | $ | 1,700,458 | | | $ | 855,571 | |
U.S. Retail Consumer Market | | | 270,351 | | | | 257,122 | | | | 1,125,280 | | | | 1,103,264 | |
U.S. Retail Oils and Baking Market | | | 163,232 | | | | 185,229 | | | | 905,719 | | | | 995,474 | |
Special Markets | | | 217,832 | | | | 202,615 | | | | 873,832 | | | | 803,624 | |
| | | | | | | | | | | | |
Total net sales | | $ | 1,069,079 | | | $ | 1,068,540 | | | $ | 4,605,289 | | | $ | 3,757,933 | |
| | | | | | | | | | | | |
| | | | | | | | | | | | | | | | |
Segment profit: | | | | | | | | | | | | | | | | |
U.S. Retail Coffee Market | | $ | 108,372 | | | $ | 136,254 | | | $ | 484,006 | | | $ | 211,113 | |
U.S. Retail Consumer Market | | | 82,410 | | | | 58,762 | | | | 285,223 | | | | 249,439 | |
U.S. Retail Oils and Baking Market | | | 20,957 | | | | 15,400 | | | | 127,954 | | | | 116,946 | |
Special Markets | | | 37,565 | | | | 35,003 | | | | 134,948 | | | | 105,028 | |
| | | | | | | | | | | | |
Total segment profit | | $ | 249,304 | | | $ | 245,419 | | | $ | 1,032,131 | | | $ | 682,526 | |
| | | | | | | | | | | | |
Interest income | | | 426 | | | | 1,932 | | | | 2,793 | | | | 6,993 | |
Interest expense | | | (14,527 | ) | | | (18,461 | ) | | | (65,187 | ) | | | (62,478 | ) |
Share-based compensation expense | | | (6,235 | ) | | | (5,080 | ) | | | (20,687 | ) | | | (14,043 | ) |
Merger and integration costs | | | (4,396 | ) | | | (30,247 | ) | | | (33,692 | ) | | | (72,666 | ) |
Cost of products sold — restructuring | | | (3,870 | ) | | | — | | | | (3,870 | ) | | | — | |
Other restructuring costs | | | (1,841 | ) | | | (9,326 | ) | | | (1,841 | ) | | | (10,229 | ) |
Corporate administrative expense | | | (51,959 | ) | | | (43,018 | ) | | | (181,132 | ) | | | (133,313 | ) |
Other unallocated income (expense) | | | 454 | | | | (182 | ) | | | 2,238 | | | | (725 | ) |
| | | | | | | | | | | | |
Income before income taxes | | $ | 167,356 | | | $ | 141,037 | | | $ | 730,753 | | | $ | 396,065 | |
| | | | | | | | | | | | |
| | | | | | | | | | | | | | | | |
Segment profit margin: | | | | | | | | | | | | | | | | |
U.S. Retail Coffee Market | | | 25.9 | % | | | 32.2 | % | | | 28.5 | % | | | 24.7 | % |
U.S. Retail Consumer Market | | | 30.5 | % | | | 22.9 | % | | | 25.3 | % | | | 22.6 | % |
U.S. Retail Oils and Baking Market | | | 12.8 | % | | | 8.3 | % | | | 14.1 | % | | | 11.7 | % |
Special Markets | | | 17.2 | % | | | 17.3 | % | | | 15.4 | % | | | 13.1 | % |