Noncontrolling Interest (Narrative) (Details) - La Regina Acquisition $ in Millions |
May 04, 2026
USD ($)
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| Redeemable Noncontrolling Interest [Line Items] | ||||
| Business Combination, Control Obtained, Description | On May 4, 2026, we acquired 49% of the issued and outstanding shares of the La Regina entities, which were determined to be VIEs. See Note 3 for additional information on the acquisition of La Regina. La Regina currently produces all of our Rao’s tomato-based pasta sauces pursuant to a long-term manufacturing and supply agreement. The remaining 51% of the outstanding equity interests of La Regina are subject to a call option granted to us and a put option granted to La Regina. The call option may be exercised from the first anniversary of the closing until the later of the tenth anniversary of the closing and the date of cessation of the material commercial agreements between the parties. Under the call option, we may, during specified exercise periods, acquire additional equity interests in increments of not less than 2% from La Regina equity holders at a price based on an implied total equity value of approximately $584 million, subject to the payment of a control premium of up to 20% and to a 20% reduction for specified material adverse changes. The put option may be exercised from three years after the first anniversary of the closing until the tenth anniversary of the closing. Under the put option, La Regina equity holders may require us to purchase all or a portion of their remaining equity interests during a defined exercise period, subject to certain conditions and similar pricing mechanics as the call option. | |||
| Business Combination, Voting Equity Interest Acquired, Percentage | 49.00% | |||
| Business Combination, Implied Total Equity Value | $ 584 | |||
| Noncontrolling interest, Fair Value at Acquisition | 300 | [1] | ||
| Redeemable Noncontrolling Interest, Equity, Redemption Value | $ 357 | |||
| Redeemable noncontrolling interest , Description | The redeemable noncontrolling interests are measured at the greater of the redemption fair value or the carrying value, adjusted for net earnings (loss) and other comprehensive income (loss). The acquisition date fair value of the redeemable noncontrolling interests was approximately $300 million, which will be accreted using the effective interest method to the redemption value of $357 million over four years when the put option becomes exercisable. The fair value of the noncontrolling interests was determined by the fixed price of the put and call options embedded within the noncontrolling interest, discounted to present value. Adjustments related to the accretion of the redemption value will be recognized in retained earnings. The redemption value was determined based on 51% of the implied total equity value of approximately $584 million, plus a 20% premium. | |||
| La Regina | ||||
| Redeemable Noncontrolling Interest [Line Items] | ||||
| Subsidiary, Ownership Percentage, Noncontrolling Owner | 51.00% | |||
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