$SJM
J M SMUCKER Co

2019 Q4 Form 10-Q Financial Statement

#000009141919000024 Filed on November 22, 2019

View on sec.gov

Income Statement

Concept 2019 Q4 2018 Q4
Revenue $1.958B $2.022B
YoY Change -3.15% 5.09%
Cost Of Revenue $1.204B $1.250B
YoY Change -3.71% 6.98%
Gross Profit $754.0M $771.3M
YoY Change -2.24% 2.16%
Gross Profit Margin 38.51% 38.15%
Selling, General & Admin $361.5M $382.4M
YoY Change -5.47% 6.37%
% of Gross Profit 47.94% 49.58%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $111.4M $111.2M
YoY Change 0.18% 8.81%
% of Gross Profit 14.77% 14.42%
Operating Expenses $361.5M $382.4M
YoY Change -5.47% 6.37%
Operating Profit $329.8M $330.5M
YoY Change -0.21% -0.48%
Interest Expense -$49.10M -$53.60M
YoY Change -8.4% 28.85%
% of Operating Profit -14.89% -16.22%
Other Income/Expense, Net -$1.600M -$7.500M
YoY Change -78.67% -676.92%
Pretax Income $279.1M $269.4M
YoY Change 3.6% -7.68%
Income Tax $67.90M $80.90M
% Of Pretax Income 24.33% 30.03%
Net Earnings $211.2M $188.5M
YoY Change 12.04% -3.13%
Net Earnings / Revenue 10.79% 9.32%
Basic Earnings Per Share $1.85 $1.66
Diluted Earnings Per Share $1.85 $1.66
COMMON SHARES
Basic Shares Outstanding 113.4M shares 113.2M shares
Diluted Shares Outstanding 113.4M shares 113.2M shares

Balance Sheet

Concept 2019 Q4 2018 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $49.00M $171.0M
YoY Change -71.35% -5.0%
Cash & Equivalents $48.80M $171.2M
Short-Term Investments
Other Short-Term Assets $74.70M $87.90M
YoY Change -15.02% -21.66%
Inventory $1.013B $966.2M
Prepaid Expenses
Receivables $522.4M $561.9M
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.659B $1.787B
YoY Change -7.16% 0.08%
LONG-TERM ASSETS
Property, Plant & Equipment $1.916B $1.819B
YoY Change 5.32% 12.56%
Goodwill $6.314B $6.475B
YoY Change -2.49% 6.38%
Intangibles $6.603B $6.926B
YoY Change -4.66% 14.45%
Long-Term Investments
YoY Change
Other Assets $13.22B $13.57B
YoY Change -2.59% 10.31%
Total Long-Term Assets $15.13B $15.39B
YoY Change -1.66% 10.57%
TOTAL ASSETS
Total Short-Term Assets $1.659B $1.787B
Total Long-Term Assets $15.13B $15.39B
Total Assets $16.79B $17.17B
YoY Change -2.23% 9.38%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $521.8M $552.4M
YoY Change -5.54% 8.87%
Accrued Expenses $259.0M $119.0M
YoY Change 117.65% -13.77%
Deferred Revenue
YoY Change
Short-Term Debt $327.9M $390.0M
YoY Change -15.92% -15.93%
Long-Term Debt Due $799.5M
YoY Change
Total Short-Term Liabilities $2.310B $1.435B
YoY Change 61.04% -22.65%
LONG-TERM LIABILITIES
Long-Term Debt $4.585B $5.885B
YoY Change -22.1% 37.05%
Other Long-Term Liabilities $307.3M $299.3M
YoY Change 2.67% -13.22%
Total Long-Term Liabilities $6.386B $7.710B
YoY Change -17.17% 13.19%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.310B $1.435B
Total Long-Term Liabilities $6.386B $7.710B
Total Liabilities $8.696B $9.144B
YoY Change -4.9% 5.52%
SHAREHOLDERS EQUITY
Retained Earnings $2.533B $2.368B
YoY Change 6.99% 71.09%
Common Stock $5.782B $5.750B
YoY Change 0.55% 0.21%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares 32.40M shares 32.70M shares
Shareholders Equity $8.095B $8.030B
YoY Change
Total Liabilities & Shareholders Equity $16.79B $17.17B
YoY Change -2.23% 9.38%

Cashflow Statement

Concept 2019 Q4 2018 Q4
OPERATING ACTIVITIES
Net Income $211.2M $188.5M
YoY Change 12.04% -3.13%
Depreciation, Depletion And Amortization $111.4M $111.2M
YoY Change 0.18% 8.81%
Cash From Operating Activities $224.0M $202.9M
YoY Change 10.4% 55.72%
INVESTING ACTIVITIES
Capital Expenditures -$63.40M -$77.80M
YoY Change -18.51% 28.81%
Acquisitions
YoY Change
Other Investing Activities $11.30M $390.4M
YoY Change -97.11% -5105.13%
Cash From Investing Activities -$52.10M $312.6M
YoY Change -116.67% -558.36%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -172.6M -534.3M
YoY Change -67.7% 774.47%
NET CHANGE
Cash From Operating Activities 224.0M 202.9M
Cash From Investing Activities -52.10M 312.6M
Cash From Financing Activities -172.6M -534.3M
Net Change In Cash -700.0K -18.80M
YoY Change -96.28% -1980.0%
FREE CASH FLOW
Cash From Operating Activities $224.0M $202.9M
Capital Expenditures -$63.40M -$77.80M
Free Cash Flow $287.4M $280.7M
YoY Change 2.39% 47.19%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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dei Entity Incorporation State Country Code
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OH
dei Entity Tax Identification Number
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dei Entity Address Address Line1
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One Strawberry Lane
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CY2019Q2 us-gaap Retained Earnings Accumulated Deficit
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us-gaap Net Income Loss
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us-gaap Net Income Loss
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us-gaap Depreciation
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us-gaap Depreciation
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117600000 USD
us-gaap Amortization Of Intangible Assets
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us-gaap Share Based Compensation
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us-gaap Share Based Compensation
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us-gaap Disposal Group Not Discontinued Operation Gain Loss On Disposal
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us-gaap Disposal Group Not Discontinued Operation Gain Loss On Disposal
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26600000 USD
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18200000 USD
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111200000 USD
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102000000.0 USD
us-gaap Increase Decrease In Inventories
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60400000 USD
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us-gaap Increase Decrease In Other Operating Assets
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15200000 USD
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25700000 USD
us-gaap Increase Decrease In Accrued Liabilities
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60400000 USD
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18500000 USD
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6500000 USD
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25700000 USD
us-gaap Net Cash Provided By Used In Operating Activities
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445500000 USD
us-gaap Net Cash Provided By Used In Operating Activities
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445900000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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0 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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1903000000.0 USD
us-gaap Payments To Acquire Property Plant And Equipment
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136400000 USD
us-gaap Payments To Acquire Property Plant And Equipment
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179100000 USD
us-gaap Proceeds From Divestiture Of Businesses
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us-gaap Proceeds From Divestiture Of Businesses
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us-gaap Payments For Proceeds From Other Investing Activities
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8900000 USD
us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Proceeds From Repayments Of Short Term Debt
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246000000.0 USD
us-gaap Proceeds From Issuance Of Long Term Debt
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0 USD
us-gaap Proceeds From Issuance Of Long Term Debt
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1500000000.0 USD
us-gaap Repayments Of Long Term Debt
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100000000.0 USD
us-gaap Repayments Of Long Term Debt
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us-gaap Payments Of Dividends Common Stock
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196600000 USD
us-gaap Payments Of Dividends Common Stock
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184900000 USD
us-gaap Payments For Repurchase Of Common Stock
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3500000 USD
us-gaap Payments For Repurchase Of Common Stock
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5000000.0 USD
us-gaap Proceeds From Stock Options Exercised
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7000000.0 USD
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800000 USD
us-gaap Proceeds From Payments For Other Financing Activities
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Financing Activities
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1256200000 USD
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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1400000 USD
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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CY2019Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
101300000 USD
CY2018Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
192600000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
48800000 USD
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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171200000 USD
CY2019Q2 us-gaap Stockholders Equity
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CY2019Q3 us-gaap Net Income Loss
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CY2019Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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CY2019Q3 us-gaap Comprehensive Income Net Of Tax
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119700000 USD
CY2019Q3 us-gaap Treasury Stock Value Acquired Par Value Method
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2900000 USD
CY2019Q3 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
20500000 USD
CY2019Q3 us-gaap Dividends Common Stock Cash
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100100000 USD
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CY2019Q3 us-gaap Stockholders Equity
StockholdersEquity
8007700000 USD
CY2019Q4 us-gaap Net Income Loss
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CY2019Q4 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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CY2019Q4 us-gaap Comprehensive Income Net Of Tax
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179500000 USD
CY2019Q4 us-gaap Treasury Stock Value Acquired Par Value Method
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600000 USD
CY2019Q4 us-gaap Stock Issued During Period Value Share Based Compensation
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8800000 USD
CY2019Q4 us-gaap Dividends Common Stock Cash
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100100000 USD
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CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
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CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
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CY2018Q3 us-gaap Net Income Loss
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OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
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CY2018Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
130900000 USD
CY2018Q3 us-gaap Treasury Stock Value Acquired Par Value Method
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4700000 USD
CY2018Q3 us-gaap Stock Issued During Period Value Share Based Compensation
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10000000.0 USD
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96500000 USD
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CY2018Q3 us-gaap Stockholders Equity
StockholdersEquity
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CY2018Q4 us-gaap Net Income Loss
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OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
2400000 USD
CY2018Q4 us-gaap Comprehensive Income Net Of Tax
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190900000 USD
CY2018Q4 us-gaap Treasury Stock Value Acquired Par Value Method
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300000 USD
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5100000 USD
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CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
8030000000.0 USD
sjm Number Of Industries In Which Company Operates
NumberOfIndustriesInWhichCompanyOperates
1 Industry
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
4 Segment
CY2019Q4 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
1957800000 USD
CY2018Q4 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
2021500000 USD
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
3736700000 USD
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
3924000000.0 USD
CY2019Q4 sjm Segment Reporting Information Segment Profit
SegmentReportingInformationSegmentProfit
461300000 USD
CY2018Q4 sjm Segment Reporting Information Segment Profit
SegmentReportingInformationSegmentProfit
489200000 USD
sjm Segment Reporting Information Segment Profit
SegmentReportingInformationSegmentProfit
823600000 USD
sjm Segment Reporting Information Segment Profit
SegmentReportingInformationSegmentProfit
878100000 USD
CY2019Q4 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
58800000 USD
CY2018Q4 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
59700000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
117600000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
120200000 USD
CY2019Q4 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-49100000 USD
CY2018Q4 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
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us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
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us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
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CY2019Q4 sjm Net Mark To Market Valuation Of Certain Derivative Positions Recognized In Unallocated Derivative Gains Losses
NetMarkToMarketValuationOfCertainDerivativePositionsRecognizedInUnallocatedDerivativeGainsLosses
900000 USD
CY2018Q4 sjm Net Mark To Market Valuation Of Certain Derivative Positions Recognized In Unallocated Derivative Gains Losses
NetMarkToMarketValuationOfCertainDerivativePositionsRecognizedInUnallocatedDerivativeGainsLosses
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sjm Net Mark To Market Valuation Of Certain Derivative Positions Recognized In Unallocated Derivative Gains Losses
NetMarkToMarketValuationOfCertainDerivativePositionsRecognizedInUnallocatedDerivativeGainsLosses
29900000 USD
sjm Net Mark To Market Valuation Of Certain Derivative Positions Recognized In Unallocated Derivative Gains Losses
NetMarkToMarketValuationOfCertainDerivativePositionsRecognizedInUnallocatedDerivativeGainsLosses
-22100000 USD
CY2019Q4 us-gaap Restructuring Charges
RestructuringCharges
3300000 USD
CY2018Q4 us-gaap Restructuring Charges
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25400000 USD
us-gaap Restructuring Charges
RestructuringCharges
6600000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
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us-gaap Restructuring Charges
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33100000 USD
CY2019Q4 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
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CY2018Q4 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
73500000 USD
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
141900000 USD
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
145300000 USD
CY2019Q4 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
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CY2018Q4 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
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us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
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CY2019Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
279100000 USD
CY2018Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
269400000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
485800000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
442500000 USD
CY2019Q4 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
1957800000 USD
CY2018Q4 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
2021500000 USD
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
3736700000 USD
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
3924000000.0 USD
CY2019Q4 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
1957800000 USD
CY2018Q4 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
2021500000 USD
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
3736700000 USD
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
3924000000.0 USD
sjm Percentofproductsalesattributabletoprimaryreportablesegment
Percentofproductsalesattributabletoprimaryreportablesegment
0.75
CY2019Q4 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
1300000 USD
CY2018Q4 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
1000000.0 USD
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
2100000 USD
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
1700000 USD
CY2019Q4 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
209900000 USD
CY2018Q4 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
187500000 USD
CY2019Q4 us-gaap Net Income Loss
NetIncomeLoss
211200000 USD
CY2018Q4 us-gaap Net Income Loss
NetIncomeLoss
188500000 USD
us-gaap Net Income Loss
NetIncomeLoss
365800000 USD
us-gaap Net Income Loss
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321500000 USD
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
363700000 USD
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
319800000 USD
CY2019Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
113400000 shares
CY2018Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
113200000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
113300000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
113100000 shares
CY2019Q4 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2018Q4 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2019Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
113400000 shares
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
3.21
CY2018Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
113200000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
113300000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
113100000 shares
CY2019Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.85
CY2018Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.66
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.83
CY2019Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.85
CY2018Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.66
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
3.21
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.83
CY2019Q4 us-gaap Debt Instrument Face Amount
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5400000000.0 USD
CY2019Q4 us-gaap Long Term Debt
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5384000000.0 USD
CY2019Q2 us-gaap Debt Instrument Face Amount
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5500000000.0 USD
CY2019Q2 us-gaap Long Term Debt
LongTermDebt
5484800000 USD
CY2019Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
799500000 USD
CY2019Q2 us-gaap Long Term Debt Current
LongTermDebtCurrent
798500000 USD
CY2019Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
4584500000 USD
CY2019Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
4686300000 USD
CY2019Q4 us-gaap Interest Paid
InterestPaid
78400000 USD
CY2018Q4 us-gaap Interest Paid
InterestPaid
84100000 USD
us-gaap Interest Paid
InterestPaid
100000000.0 USD
us-gaap Interest Paid
InterestPaid
107400000 USD
CY2019Q4 us-gaap Amortization Of Deferred Hedge Gains
AmortizationOfDeferredHedgeGains
2100000 USD
us-gaap Amortization Of Deferred Hedge Gains
AmortizationOfDeferredHedgeGains
4100000 USD
CY2019Q4 us-gaap Margin Deposit Assets
MarginDepositAssets
8600000 USD
CY2019Q2 us-gaap Margin Deposit Assets
MarginDepositAssets
40700000 USD
CY2019Q4 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-49100000 USD
CY2018Q4 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-53600000 USD
us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-98500000 USD
us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-107200000 USD
CY2019Q4 us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
-10200000 USD
CY2018Q4 us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
-2400000 USD
us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
1400000 USD
us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
-28600000 USD
CY2019Q4 us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
-10200000 USD
CY2018Q4 us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
-2400000 USD
us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
1400000 USD
us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
-28600000 USD
CY2019Q4 sjm Net Gain Loss On Derivative Positions Reclassified From Derivative Gains Losses To Segment Operating Profit
NetGainLossOnDerivativePositionsReclassifiedFromDerivativeGainsLossesToSegmentOperatingProfit
-11100000 USD
CY2018Q4 sjm Net Gain Loss On Derivative Positions Reclassified From Derivative Gains Losses To Segment Operating Profit
NetGainLossOnDerivativePositionsReclassifiedFromDerivativeGainsLossesToSegmentOperatingProfit
-2300000 USD
sjm Net Gain Loss On Derivative Positions Reclassified From Derivative Gains Losses To Segment Operating Profit
NetGainLossOnDerivativePositionsReclassifiedFromDerivativeGainsLossesToSegmentOperatingProfit
-28500000 USD
sjm Net Gain Loss On Derivative Positions Reclassified From Derivative Gains Losses To Segment Operating Profit
NetGainLossOnDerivativePositionsReclassifiedFromDerivativeGainsLossesToSegmentOperatingProfit
-6500000 USD
CY2019Q4 sjm Net Mark To Market Valuation Of Certain Derivative Positions Recognized In Unallocated Derivative Gains Losses
NetMarkToMarketValuationOfCertainDerivativePositionsRecognizedInUnallocatedDerivativeGainsLosses
900000 USD
CY2018Q4 sjm Net Mark To Market Valuation Of Certain Derivative Positions Recognized In Unallocated Derivative Gains Losses
NetMarkToMarketValuationOfCertainDerivativePositionsRecognizedInUnallocatedDerivativeGainsLosses
-100000 USD
sjm Net Mark To Market Valuation Of Certain Derivative Positions Recognized In Unallocated Derivative Gains Losses
NetMarkToMarketValuationOfCertainDerivativePositionsRecognizedInUnallocatedDerivativeGainsLosses
29900000 USD
sjm Net Mark To Market Valuation Of Certain Derivative Positions Recognized In Unallocated Derivative Gains Losses
NetMarkToMarketValuationOfCertainDerivativePositionsRecognizedInUnallocatedDerivativeGainsLosses
-22100000 USD
sjm Cumulative Net Mark To Market Valuation Of Certain Derivative Positions Recognized In Unallocated Derivative Gains Losses
CumulativeNetMarkToMarketValuationOfCertainDerivativePositionsRecognizedInUnallocatedDerivativeGainsLosses
-22600000 USD
CY2018 sjm Cumulative Net Mark To Market Valuation Of Certain Derivative Positions Recognized In Unallocated Derivative Gains Losses
CumulativeNetMarkToMarketValuationOfCertainDerivativePositionsRecognizedInUnallocatedDerivativeGainsLosses
-52500000 USD
CY2019Q4 sjm Other Investment Municipal Bond Matured In One Year
OtherInvestmentMunicipalBondMaturedInOneYear
400000 USD
CY2019Q4 sjm Other Investment Municipal Bond Matured In Second Year
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sjm Time Period Over Which It Is Reasonably Possible That Company Could Increase Or Decrease Its Unrecognized Tax Benefits
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us-gaap Loss Contingency Disclosures
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<div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">We, like other food manufacturers, are from time to time subject to various administrative, regulatory, and other legal proceedings arising in the ordinary course of business. We are currently a defendant in a variety of such legal proceedings, including certain lawsuits related to the alleged price-fixing of shelf stable tuna products prior to 2011 by a business previously owned by, but divested prior to our acquisition of, Big Heart Pet Brands, the significant majority of which were settled and paid during the second half of 2019. While we cannot predict with certainty the ultimate results of these proceedings or potential settlements associated with these or other matters, we have accrued losses for certain contingent liabilities that we have determined are probable and reasonably estimable at </span><span style="font-family:inherit;font-size:10pt;">October 31, 2019</span><span style="font-family:inherit;font-size:10pt;">. Based on the information known to date, with the exception of the matter discussed below, we do not believe the final outcome of these proceedings would have a material adverse effect on our financial position, results of operations, or cash flows.</span></div><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">On May 9, 2011, an organization named Council for Education and Research on Toxics (“Plaintiff” or “CERT”) filed a lawsuit in the Superior Court of the State of California, County of Los Angeles, against us and additional defendants who manufacture, package, distribute, or sell packaged coffee. The lawsuit is CERT v. Brad Barry LLC, et al., and was a tag along to a 2010 lawsuit against companies selling “ready-to-drink” coffee based on the same claims. Both cases have since been consolidated and now include nearly eighty defendants, which constitute the great majority of the coffee industry in California. The Plaintiff alleges that we and the other defendants failed to provide warnings for our coffee products of exposure to the chemical acrylamide as required under California Health and Safety Code Section 25249.5, the </span><span style="font-family:inherit;font-size:10pt;font-style:italic;">California Safe Drinking Water and Toxic Enforcement Act of 1986 </span><span style="font-family:inherit;font-size:10pt;">(better known as</span><span style="font-family:inherit;font-size:10pt;font-style:italic;"> </span><span style="font-family:inherit;font-size:10pt;">“Proposition 65”). The Plaintiff seeks equitable relief, including providing warnings to consumers of coffee products, as well as civil penalties in the amount of the statutory maximum of $2,500 per day per violation of Proposition 65. The Plaintiff asserts that every consumed cup of coffee, absent a compliant warning, is equivalent to a violation under Proposition 65. </span></div><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">As part of a joint defense group organized to defend against the lawsuit, we dispute the claims of the Plaintiff. Acrylamide is not added to coffee but is inherently present in all coffee in small amounts (measured in parts per billion) as a byproduct of the coffee bean roasting process. We have asserted multiple affirmative defenses. Trial of the first phase of the case commenced on September 8, 2014, and was limited to three affirmative defenses shared by all defendants. On September 1, 2015, the trial </span></div><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">court issued a final ruling adverse to the defendants on all Phase 1 defenses. Trial of the second phase of the case commenced in the fall of calendar year 2017. On March 28, 2018, the trial court issued a proposed ruling adverse to the defendants on the Phase 2 defense, our last remaining defense to liability. The trial court finalized and affirmed its Phase 2 ruling on May 7, 2018, and therefore, the third phase of the trial regarding remedies issues was scheduled to commence on October 15, 2018. The trial did not proceed on the scheduled date as further described below.</span></div><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">On June 15, 2018, the state agency responsible for administering the Proposition 65 program, the California Office of Environmental Health Hazard Assessment (“OEHHA”), issued a proposed regulation clarifying that cancer warnings are not required for coffee under Proposition 65. The California Court of Appeals granted the defendants’ requests to stay the trial on remedies until a final determination was made on OEHHA’s proposed regulation. During the interim period, the California Office of Administrative Law approved the proposed regulation on June 3, 2019, and the regulation went into effect on October 1, 2019. In response to CERT’s objection, the defendants amended their answer to raise the regulation as a complete defense to the claims. CERT unsuccessfully challenged the defendants’ right to assert the regulation as an affirmative defense but continues to challenge the validity of the regulation. A hearing on CERT’s challenge is scheduled for January 22, 2020. At this stage of the proceedings, prior to and without knowing whether the regulation will stand as a defense or the trial on remedies issues will move forward in light of the challenge, we are unable to predict or reasonably estimate the potential loss or effect on our operations. Accordingly, no loss contingency has been recorded for this matter as of </span><span style="font-family:inherit;font-size:10pt;">October 31, 2019</span><span style="font-family:inherit;font-size:10pt;">, as the likelihood of loss is not considered probable or estimable. The trial court has discretion to impose zero penalties against us or to impose significant statutory penalties if the case proceeds. Significant labeling or warning requirements that could potentially be imposed by the trial court may increase our costs and adversely affect sales of our coffee products, as well as involve substantial expense and operational disruption, which could have a material adverse impact on our financial position, results of operations, or cash flows. Furthermore, a future appellate court decision could reverse the earlier trial court rulings should the regulation be held invalid. The outcome and the financial impact of settlement, the trial, or the appellate court rulings of the case, if any, cannot be predicted at this time.</span></div>
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