Exhibit 99.1
The J. M. Smucker Company
Unaudited Reportable Segments Supplemental Information
(Recalculated to be Consistent with Fiscal 2011 Methodology)
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)
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)
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)
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 | % |