v3.26.1
Reportable Segments
 12 Months Ended
Apr. 30, 2026
Segment Reporting [Abstract]  
Reportable Segments
Note 5: Reportable Segments

We operate in one industry: the manufacturing and marketing of food and beverage products. We have five reportable segments: U.S. Retail Coffee, U.S. Retail Frozen Handheld and Spreads, U.S. Retail Pet Foods, Sweet Baked Snacks, and Away From Home. The presentation of Other represents the International operating segment, which does not meet the criteria to be presented as a reportable segment under FASB ASC 280.

In accordance with FASB ASC 280, we completed our annual evaluation of operating segments to determine which segments meet the quantitative thresholds to be presented as a reportable segment. As a result of this evaluation, the Away From Home operating segment met the reportable segment criteria and is presented as such beginning in the fourth quarter of 2026. Previously, the Away From Home operating segment was presented as a combination of all other operating segments that were not individually reportable. Segment information for 2025 and 2024 has been recast to reflect this change.

The U.S. Retail Coffee reportable segment primarily includes the domestic sales of Folgers, Dunkin’, and Café Bustelo branded coffee; the U.S. Retail Frozen Handheld and Spreads reportable segment primarily includes the domestic sales of Uncrustables, Jif, and Smucker’s branded products; the U.S. Retail Pet Foods reportable segment primarily includes the domestic sales of Meow Mix, Milk-Bone, Pup-Peroni, and Canine Carry Outs branded products; and the Sweet Baked Snacks reportable segment primarily includes all domestic and foreign sales of Hostess branded products in all channels. The Away From Home reportable segment includes the sale of all products, with the exception of Sweet Baked Snacks products, domestically and in foreign countries through foodservice distributors and operators (e.g., healthcare operators, restaurants, educational institutions, offices, lodging and gaming establishments, and convenience stores).
Reportable segments have been identified based on financial data utilized to manage our businesses by our CODM, Mark Smucker, Chief Executive Officer, President and Chair of the Board. The CODM uses net sales and segment profit to evaluate segment performance and allocate resources, including consideration of plan-to-actual variances and prior year-to-actual variances on a monthly basis. Segment profit represents net sales, less direct and allocable operating expenses, and is consistent with the way in which the CODM manages our segments. However, we do not represent that the segments, if operated independently, would report operating profit equal to the segment profit set forth below, as segment profit excludes certain expenses such as amortization expense and impairment charges related to intangible assets, gains and losses on divestitures, the change in net cumulative unallocated derivative gains and losses, special project costs, as well as corporate administrative expenses.

Commodity and foreign currency exchange derivative gains and losses are reported in unallocated derivative gains and losses outside of segment operating results until the related inventory is sold. At that time, we reclassify the hedge gains and losses from unallocated derivative gains and losses to segment profit, allowing our segments to realize the economic effect of the hedge without experiencing any mark-to-market volatility. We would expect that any gain or loss in the estimated fair value of the derivatives would generally be offset by a change in the estimated fair value of the underlying exposures.
The following tables reconcile segment profit to income before income taxes.
Year Ended April 30, 2026
U.S. Retail CoffeeU.S. Retail Frozen Handheld and SpreadsU.S. Retail Pet FoodsSweet Baked SnacksAway From Home
Other (A)
Total
Net sales$3,304.9 $1,853.9 $1,600.0 $971.3 $879.0 $441.8 $9,050.9 
 Segment cost of products sold (B)
2,275.8 1,151.9 874.1 705.6 564.2 320.1 
 Segment selling and distribution expense (C)
326.7 257.3 266.7 168.8 97.0 52.0 
 Other segment items (D)
0.9 — (14.1)(0.3)(2.3)0.1 
Segment profit$701.5 $444.7 $473.3 $97.2 $220.1 $69.6 $2,006.4 
Reconciliation of segment profit:
Amortization(210.6)
Goodwill impairment charges(507.5)
Other intangible assets impairment charges(454.2)
Interest expense – net(381.2)
Change in net cumulative unallocated derivative gains and losses(58.6)
Cost of products sold – special project costs (E)
(66.1)
Other special project costs (E)
(21.1)
Corporate administrative expenses(328.1)
Other income (expense) – net (E)
(41.4)
Income (loss) before income taxes$(62.4)
Year Ended April 30, 2025
U.S. Retail CoffeeU.S. Retail Frozen Handheld and SpreadsU.S. Retail Pet FoodsSweet Baked SnacksAway From Home
Other (A)
Total
Net sales$2,806.6 $1,877.0 $1,663.6 $1,178.8 $763.0 $437.1 $8,726.1 
 Segment cost of products sold (B)
1,709.3 1,167.5 936.0 779.9 489.8 308.0 
 Segment selling and distribution expense (C)
308.4 276.7 281.5 181.8 101.2 56.9 
 Other segment items (D)
(6.2)7.5 (13.5)(2.7)(4.1)0.9 
Segment profit$795.1 $425.3 $459.6 $219.8 $176.1 $71.3 $2,147.2 
Reconciliation of segment profit:
Amortization(219.3)
Goodwill impairment charge(1,661.6)
Other intangible assets impairment charges(320.9)
Gain (loss) on divestitures – net(310.1)
Interest expense – net(388.7)
Change in net cumulative unallocated derivative gains and losses58.2 
Cost of products sold – special project costs (E)
(9.1)
Other special project costs (E)
(35.8)
Other debt gains (charges) – net (E)
30.2 
Corporate administrative expenses(322.5)
Other income (expense) – net (E)
(14.4)
Income (loss) before income taxes$(1,046.8)
Year Ended April 30, 2024
U.S. Retail CoffeeU.S. Retail Frozen Handheld and SpreadsU.S. Retail Pet FoodsSweet Baked SnacksAway From Home
Other (A)
Total
Net sales$2,704.4 $1,815.6 $1,822.8 $637.3 $711.5 $487.1 $8,178.7 
 Segment cost of products sold (B)
1,572.8 1,118.8 1,131.7 410.0 481.9 351.9 
 Segment selling and distribution expense (C)
330.1 261.8 296.7 89.9 94.2 64.1 
 Other segment items (D)
42.3 0.9 (7.7)(0.8)(1.3)(0.3)
Segment profit$759.2 $434.1 $402.1 $138.2 $136.7 $71.4 $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 losses6.7 
Cost of products sold – special project costs (E)
(2.9)
Other special project costs (E)
(130.2)
Other debt gains (charges) - net (E)
(19.5)
Corporate administrative expenses(305.5)
Other income (expense) – net (E)
(25.6)
Income (loss) before income taxes$996.4 
(A)     Represents the International operating segment.
(B)    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.
(C)    Segment selling and distribution expense excludes corporate administrative expenses and special project costs that are not allocated to the segments.
(D)    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 reportable segment includes an unfavorable impact related to the termination of a supplier agreement.
(E)    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.
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,
  202620252024
Assets:
U.S. Retail Coffee$4,692.0 $4,927.8 $4,826.3 
U.S. Retail Frozen Handheld and Spreads3,236.6 3,263.1 3,257.1 
U.S. Retail Pet Foods4,624.2 4,679.3 4,784.1 
Sweet Baked Snacks2,318.9 3,394.9 6,267.1 
Away From Home798.4 670.1 624.1 
Other (A)
422.8 367.0 365.5 
Unallocated (B)
126.5 261.1 149.5 
Total assets$16,219.4 $17,563.3 $20,273.7 
Depreciation, amortization, and impairment charges:
U.S. Retail Coffee$97.9 $97.9 $101.1 
U.S. Retail Frozen Handheld and Spreads99.4 90.8 81.6 
U.S. Retail Pet Foods123.5 121.3 118.1 
Sweet Baked Snacks (C)
1,059.6 2,092.0 59.6 
Away From Home30.9 27.4 26.8 
Other (A)
9.6 10.0 5.6 
Unallocated (D)
97.8 45.6 38.0 
Total depreciation, amortization, and impairment charges$1,518.7 $2,485.0 $430.8 
Additions to property, plant, and equipment:
U.S. Retail Coffee$38.4 $62.7 $79.7 
U.S. Retail Frozen Handheld and Spreads110.2 157.6 334.5 
U.S. Retail Pet Foods53.4 83.2 83.4 
Sweet Baked Snacks61.6 43.0 41.2 
Away From Home42.2 39.0 39.4 
Other (A)
11.6 8.3 8.3 
Total additions to property, plant, and equipment$317.4 $393.8 $586.5 
(A)Represents the International operating segment.
(B)Primarily represents unallocated cash and cash equivalents and corporate-held investments.
(C)During 2026, we recognized pre-tax impairment charges of $507.5 and $454.2 related to the goodwill of the Sweet Baked Snacks reporting unit and Hostess brand trademark, respectively. 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 trademark, respectively. For more information, see Note 7: Goodwill and Other Intangible Assets.
(D)Primarily represents unallocated corporate administrative expenses, mainly consisting of depreciation and software amortization.
The following table presents certain geographical information.
Year Ended April 30,
  202620252024
Net sales:
United States$8,568.2 $8,245.7 $7,653.0 
International:
Canada$340.8 $352.4 $429.4 
All other international141.9 128.0 96.3 
Total international$482.7 $480.4 $525.7 
Total net sales$9,050.9 $8,726.1 $8,178.7 
Assets:
United States$15,866.5 $17,190.0 $19,483.1 
International:
Canada$352.6 $373.0 $790.2 
All other international0.3 0.3 0.4 
Total international$352.9 $373.3 $790.6 
Total assets$16,219.4 $17,563.3 $20,273.7 
Long-lived assets (excluding goodwill and other intangible assets):
United States$3,306.5 $3,308.4 $3,294.5 
International:
Canada$51.1 $51.3 $106.9 
All other international— 0.1 0.1 
Total international$51.1 $51.4 $107.0 
Total long-lived assets (excluding goodwill and other intangible assets)$3,357.6 $3,359.8 $3,401.5 
The following table presents product category information.
Year Ended April 30,
  202620252024
Primary Reportable Segment (A)
Coffee$3,768.7 $3,173.8 $3,063.0 U.S. Retail Coffee
Frozen handheld995.7 918.2 791.1 U.S. Retail Frozen Handheld and Spreads
Sweet baked goods971.3 1,093.0 572.5 Sweet Baked Snacks
Pet snacks886.0 944.7 1,024.8 U.S. Retail Pet Foods
Peanut butter786.1 827.8 814.1 U.S. Retail Frozen Handheld and Spreads
Cat food776.0 763.5 792.4 U.S. Retail Pet Foods
Fruit spreads371.0 400.8 427.2 U.S. Retail Frozen Handheld and Spreads
Portion control194.4 211.9 207.9 Away From Home
Toppings and syrups109.2 96.8 88.4 U.S. Retail Frozen Handheld and Spreads
Baking mixes and ingredients89.5 88.1 90.3 
Other (B)
Dog food0.1 24.4 76.4 U.S. Retail Pet Foods
Cookies— 86.3 64.8 Sweet Baked Snacks
Other102.9 96.8 165.8 
Other (B)
Total net sales$9,050.9 $8,726.1 $8,178.7 
(A)The primary reportable segment generally represents at least 75 percent of total net sales for each respective product category.
(B)Represents the International operating segment.
Sales to Walmart Inc. and subsidiaries, including Sam’s Club, amounted to 34 percent of net sales in 2026 and 33 percent of net sales in both 2025 and 2024. These sales are primarily included in our U.S. Retail reportable segments. No other customer exceeded 10 percent of net sales for any year. Trade receivables – net at April 30, 2026 and 2025, included amounts due from Walmart Inc. and subsidiaries, including Sam’s Club, of $187.4 and $172.3, respectively.