$SJM
J M SMUCKER Co

2020 Q4 Form 10-Q Financial Statement

#000009141920000151 Filed on November 24, 2020

View on sec.gov

Income Statement

Concept 2020 Q4 2019 Q4
Revenue $2.034B $1.958B
YoY Change 3.89% -3.15%
Cost Of Revenue $1.216B $1.204B
YoY Change 1.0% -3.71%
Gross Profit $818.2M $754.0M
YoY Change 8.51% -2.24%
Gross Profit Margin 40.23% 38.51%
Selling, General & Admin $382.8M $361.5M
YoY Change 5.89% -5.47%
% of Gross Profit 46.79% 47.94%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $113.6M $111.4M
YoY Change 1.97% 0.18%
% of Gross Profit 13.88% 14.77%
Operating Expenses $382.8M $361.5M
YoY Change 5.89% -5.47%
Operating Profit $380.8M $329.8M
YoY Change 15.46% -0.21%
Interest Expense -$45.10M -$49.10M
YoY Change -8.15% -8.4%
% of Operating Profit -11.84% -14.89%
Other Income/Expense, Net -$32.20M -$1.600M
YoY Change 1912.5% -78.67%
Pretax Income $303.5M $279.1M
YoY Change 8.74% 3.6%
Income Tax $72.70M $67.90M
% Of Pretax Income 23.95% 24.33%
Net Earnings $230.8M $211.2M
YoY Change 9.28% 12.04%
Net Earnings / Revenue 11.35% 10.79%
Basic Earnings Per Share $2.02 $1.85
Diluted Earnings Per Share $2.02 $1.85
COMMON SHARES
Basic Shares Outstanding 113.7M shares 113.4M shares
Diluted Shares Outstanding 113.7M shares 113.4M shares

Balance Sheet

Concept 2020 Q4 2019 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $406.0M $49.00M
YoY Change 728.57% -71.35%
Cash & Equivalents $405.6M $48.80M
Short-Term Investments
Other Short-Term Assets $90.70M $74.70M
YoY Change 21.42% -15.02%
Inventory $993.8M $1.013B
Prepaid Expenses
Receivables $577.0M $522.4M
Other Receivables $0.00 $0.00
Total Short-Term Assets $2.067B $1.659B
YoY Change 24.58% -7.16%
LONG-TERM ASSETS
Property, Plant & Equipment $1.956B $1.916B
YoY Change 2.13% 5.32%
Goodwill $6.312B $6.314B
YoY Change -0.03% -2.49%
Intangibles $6.313B $6.603B
YoY Change -4.39% -4.66%
Long-Term Investments
YoY Change
Other Assets $12.91B $13.22B
YoY Change -2.35% -2.59%
Total Long-Term Assets $14.86B $15.13B
YoY Change -1.78% -1.66%
TOTAL ASSETS
Total Short-Term Assets $2.067B $1.659B
Total Long-Term Assets $14.86B $15.13B
Total Assets $16.93B $16.79B
YoY Change 0.83% -2.23%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $857.2M $521.8M
YoY Change 64.28% -5.54%
Accrued Expenses $294.0M $259.0M
YoY Change 13.51% 117.65%
Deferred Revenue
YoY Change
Short-Term Debt $280.0M $327.9M
YoY Change -14.61% -15.92%
Long-Term Debt Due $957.3M $799.5M
YoY Change 19.74%
Total Short-Term Liabilities $2.693B $2.310B
YoY Change 16.57% 61.04%
LONG-TERM LIABILITIES
Long-Term Debt $3.915B $4.585B
YoY Change -14.61% -22.1%
Other Long-Term Liabilities $344.6M $307.3M
YoY Change 12.14% 2.67%
Total Long-Term Liabilities $5.722B $6.386B
YoY Change -10.39% -17.17%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.693B $2.310B
Total Long-Term Liabilities $5.722B $6.386B
Total Liabilities $8.415B $8.696B
YoY Change -3.23% -4.9%
SHAREHOLDERS EQUITY
Retained Earnings $3.011B $2.533B
YoY Change 18.87% 6.99%
Common Stock $5.803B $5.782B
YoY Change 0.37% 0.55%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares 32.40M shares 32.40M shares
Shareholders Equity $8.515B $8.095B
YoY Change
Total Liabilities & Shareholders Equity $16.93B $16.79B
YoY Change 0.83% -2.23%

Cashflow Statement

Concept 2020 Q4 2019 Q4
OPERATING ACTIVITIES
Net Income $230.8M $211.2M
YoY Change 9.28% 12.04%
Depreciation, Depletion And Amortization $113.6M $111.4M
YoY Change 1.97% 0.18%
Cash From Operating Activities $378.7M $224.0M
YoY Change 69.06% 10.4%
INVESTING ACTIVITIES
Capital Expenditures -$52.40M -$63.40M
YoY Change -17.35% -18.51%
Acquisitions
YoY Change
Other Investing Activities $700.0K $11.30M
YoY Change -93.81% -97.11%
Cash From Investing Activities -$51.70M -$52.10M
YoY Change -0.77% -116.67%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -318.5M -172.6M
YoY Change 84.53% -67.7%
NET CHANGE
Cash From Operating Activities 378.7M 224.0M
Cash From Investing Activities -51.70M -52.10M
Cash From Financing Activities -318.5M -172.6M
Net Change In Cash 8.500M -700.0K
YoY Change -1314.29% -96.28%
FREE CASH FLOW
Cash From Operating Activities $378.7M $224.0M
Capital Expenditures -$52.40M -$63.40M
Free Cash Flow $431.1M $287.4M
YoY Change 50.0% 2.39%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
dei Document Type
DocumentType
10-Q
dei Document Quarterly Report
DocumentQuarterlyReport
true
dei Document Period End Date
DocumentPeriodEndDate
2020-10-31
dei Entity Central Index Key
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dei Amendment Flag
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dei Document Fiscal Year Focus
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dei Document Fiscal Period Focus
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dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
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dei Document Transition Report
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dei Entity File Number
EntityFileNumber
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dei Entity Registrant Name
EntityRegistrantName
The J. M. Smucker Company
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
OH
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
34-0538550
dei Entity Address Address Line1
EntityAddressAddressLine1
One Strawberry Lane
dei Entity Address City Or Town
EntityAddressCityOrTown
Orrville,
dei Entity Address State Or Province
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OH
dei Entity Address Postal Zip Code
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dei City Area Code
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dei Local Phone Number
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682-3000
dei Security12b Title
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dei Trading Symbol
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16929700000 USD
CY2020Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
16970400000 USD
us-gaap Net Income Loss
NetIncomeLoss
467800000 USD
us-gaap Net Income Loss
NetIncomeLoss
365800000 USD
us-gaap Depreciation
Depreciation
108200000 USD
us-gaap Depreciation
Depreciation
103400000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
119100000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
117600000 USD
us-gaap Defined Benefit Plan Recognized Net Gain Loss Due To Settlements1
DefinedBenefitPlanRecognizedNetGainLossDueToSettlements1
-30600000 USD
us-gaap Defined Benefit Plan Recognized Net Gain Loss Due To Settlements1
DefinedBenefitPlanRecognizedNetGainLossDueToSettlements1
0 USD
us-gaap Share Based Compensation
ShareBasedCompensation
13400000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
13700000 USD
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-7300000 USD
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-6600000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
24200000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
18200000 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
97500000 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
102000000.0 USD
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-8500000 USD
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-13300000 USD
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
107500000 USD
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-41300000 USD
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
65800000 USD
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
25700000 USD
sjm Increase Decrease In Income Taxes Excluding Deferred Income Taxes
IncreaseDecreaseInIncomeTaxesExcludingDeferredIncomeTaxes
-24100000 USD
sjm Increase Decrease In Income Taxes Excluding Deferred Income Taxes
IncreaseDecreaseInIncomeTaxesExcludingDeferredIncomeTaxes
-32600000 USD
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
-5300000 USD
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
6500000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
787700000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
445500000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
129000000.0 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
136400000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-28100000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-32200000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-100900000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-104200000 USD
us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
31700000 USD
us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
-102900000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
500000000.0 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
100000000.0 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
202400000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
196600000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
6200000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
3500000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
700000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
7000000.0 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
400000 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
800000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-675800000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-395200000 USD
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
3500000 USD
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1400000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
14500000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-52500000 USD
CY2020Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
391100000 USD
CY2019Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
101300000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
405600000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
48800000 USD
CY2020Q2 us-gaap Stockholders Equity
StockholdersEquity
8190900000 USD
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
237000000.0 USD
CY2020Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
18100000 USD
CY2020Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
255100000 USD
CY2020Q3 us-gaap Treasury Stock Value Acquired Par Value Method
TreasuryStockValueAcquiredParValueMethod
4600000 USD
CY2020Q3 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
6200000 USD
CY2020Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.90
CY2020Q3 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
102400000 USD
CY2020Q3 us-gaap Stockholders Equity Other
StockholdersEquityOther
0 USD
CY2020Q3 us-gaap Stockholders Equity
StockholdersEquity
8345200000 USD
CY2020Q4 us-gaap Net Income Loss
NetIncomeLoss
230800000 USD
CY2020Q4 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
33400000 USD
CY2020Q4 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
264200000 USD
CY2020Q4 us-gaap Treasury Stock Value Acquired Par Value Method
TreasuryStockValueAcquiredParValueMethod
1600000 USD
CY2020Q4 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
9500000 USD
CY2020Q4 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.90
CY2020Q4 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
102300000 USD
CY2020Q4 us-gaap Stockholders Equity Other
StockholdersEquityOther
0 USD
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
8515000000.0 USD
CY2019Q2 us-gaap Stockholders Equity
StockholdersEquity
7970500000 USD
CY2019Q3 us-gaap Net Income Loss
NetIncomeLoss
154600000 USD
CY2019Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-34900000 USD
CY2019Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
119700000 USD
CY2019Q3 us-gaap Treasury Stock Value Acquired Par Value Method
TreasuryStockValueAcquiredParValueMethod
2900000 USD
CY2019Q3 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
20500000 USD
CY2019Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.88
CY2019Q3 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
100100000 USD
CY2019Q3 us-gaap Stockholders Equity Other
StockholdersEquityOther
0 USD
CY2019Q3 us-gaap Stockholders Equity
StockholdersEquity
8007700000 USD
CY2019Q4 us-gaap Net Income Loss
NetIncomeLoss
211200000 USD
CY2019Q4 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-31700000 USD
CY2019Q4 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
179500000 USD
CY2019Q4 us-gaap Treasury Stock Value Acquired Par Value Method
TreasuryStockValueAcquiredParValueMethod
600000 USD
CY2019Q4 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
8800000 USD
CY2019Q4 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.88
CY2019Q4 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
100100000 USD
CY2019Q4 us-gaap Stockholders Equity Other
StockholdersEquityOther
0 USD
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
8095300000 USD
sjm Number Of Industries In Which Company Operates
NumberOfIndustriesInWhichCompanyOperates
1 Industry
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3 Segment
CY2020Q4 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
2034000000.0 USD
CY2019Q4 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
1957800000 USD
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
4005800000 USD
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
3736700000 USD
CY2020Q4 sjm Segment Reporting Information Segment Profit
SegmentReportingInformationSegmentProfit
501800000 USD
CY2019Q4 sjm Segment Reporting Information Segment Profit
SegmentReportingInformationSegmentProfit
461300000 USD
sjm Segment Reporting Information Segment Profit
SegmentReportingInformationSegmentProfit
972100000 USD
sjm Segment Reporting Information Segment Profit
SegmentReportingInformationSegmentProfit
823600000 USD
CY2020Q4 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
59500000 USD
CY2019Q4 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
58800000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
119100000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
117600000 USD
CY2020Q4 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-45100000 USD
CY2019Q4 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-49100000 USD
us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-91200000 USD
us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-98500000 USD
CY2020Q4 sjm Net Mark To Market Valuation Of Certain Derivative Positions Recognized In Unallocated Derivative Gains Losses
NetMarkToMarketValuationOfCertainDerivativePositionsRecognizedInUnallocatedDerivativeGainsLosses
31500000 USD
CY2019Q4 sjm Net Mark To Market Valuation Of Certain Derivative Positions Recognized In Unallocated Derivative Gains Losses
NetMarkToMarketValuationOfCertainDerivativePositionsRecognizedInUnallocatedDerivativeGainsLosses
900000 USD
sjm Net Mark To Market Valuation Of Certain Derivative Positions Recognized In Unallocated Derivative Gains Losses
NetMarkToMarketValuationOfCertainDerivativePositionsRecognizedInUnallocatedDerivativeGainsLosses
47700000 USD
sjm Net Mark To Market Valuation Of Certain Derivative Positions Recognized In Unallocated Derivative Gains Losses
NetMarkToMarketValuationOfCertainDerivativePositionsRecognizedInUnallocatedDerivativeGainsLosses
29900000 USD
CY2020Q4 us-gaap Restructuring Charges
RestructuringCharges
0 USD
CY2019Q4 us-gaap Restructuring Charges
RestructuringCharges
3300000 USD
us-gaap Restructuring Charges
RestructuringCharges
0 USD
us-gaap Restructuring Charges
RestructuringCharges
6600000 USD
CY2020Q4 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
93000000.0 USD
CY2019Q4 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
70300000 USD
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
158800000 USD
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
141900000 USD
CY2020Q4 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-32200000 USD
CY2019Q4 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-1600000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-33600000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-3100000 USD
CY2020Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
303500000 USD
CY2019Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
279100000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
617100000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
485800000 USD
CY2020Q4 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
2034000000.0 USD
CY2019Q4 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
1957800000 USD
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
4005800000 USD
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
3736700000 USD
CY2020Q4 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
2034000000.0 USD
CY2019Q4 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
1957800000 USD
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
4005800000 USD
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
3736700000 USD
sjm Percentofproductsalesattributabletoprimaryreportablesegment
Percentofproductsalesattributabletoprimaryreportablesegment
0.75
CY2019Q4 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
209900000 USD
CY2020Q4 us-gaap Net Income Loss
NetIncomeLoss
230800000 USD
CY2019Q4 us-gaap Net Income Loss
NetIncomeLoss
211200000 USD
us-gaap Net Income Loss
NetIncomeLoss
467800000 USD
us-gaap Net Income Loss
NetIncomeLoss
365800000 USD
CY2020Q4 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
900000 USD
CY2019Q4 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
1300000 USD
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
2000000.0 USD
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
2100000 USD
CY2020Q4 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
229900000 USD
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
465800000 USD
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
363700000 USD
CY2020Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
113700000 shares
CY2019Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
113400000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
113600000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
113300000 shares
CY2020Q4 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2019Q4 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
CY2020Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
113700000 shares
CY2019Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
113400000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
113600000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
113300000 shares
CY2020Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.02
CY2019Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.85
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
4.10
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
3.21
CY2020Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.02
CY2019Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.85
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
4.10
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
3.21
CY2020Q4 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
4900000000.0 USD
CY2020Q4 us-gaap Long Term Debt
LongTermDebt
4871800000 USD
CY2020Q2 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
5400000000.0 USD
CY2020Q2 us-gaap Long Term Debt
LongTermDebt
5373300000 USD
CY2020Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
957300000 USD
CY2020Q2 us-gaap Long Term Debt Current
LongTermDebtCurrent
0 USD
CY2020Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
3914500000 USD
CY2020Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
5373300000 USD
CY2020Q4 us-gaap Interest Paid
InterestPaid
76200000 USD
CY2019Q4 us-gaap Interest Paid
InterestPaid
78400000 USD
us-gaap Interest Paid
InterestPaid
86400000 USD
us-gaap Interest Paid
InterestPaid
100000000.0 USD
CY2020Q4 us-gaap Amortization Of Deferred Hedge Gains
AmortizationOfDeferredHedgeGains
2000000.0 USD
us-gaap Amortization Of Deferred Hedge Gains
AmortizationOfDeferredHedgeGains
4200000 USD
CY2019Q4 us-gaap Amortization Of Deferred Hedge Gains
AmortizationOfDeferredHedgeGains
2100000 USD
us-gaap Amortization Of Deferred Hedge Gains
AmortizationOfDeferredHedgeGains
4100000 USD
CY2020Q4 us-gaap Margin Deposit Assets
MarginDepositAssets
15300000 USD
CY2020Q2 us-gaap Margin Deposit Assets
MarginDepositAssets
43200000 USD
CY2020Q4 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-45100000 USD
CY2019Q4 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-49100000 USD
us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-91200000 USD
us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-98500000 USD
CY2020Q4 sjm Other Investment Municipal Bond Matured In One Year
OtherInvestmentMunicipalBondMaturedInOneYear
1100000 USD
CY2019Q4 sjm Net Gain Loss On Derivative Positions Reclassified From Derivative Gains Losses To Segment Operating Profit
NetGainLossOnDerivativePositionsReclassifiedFromDerivativeGainsLossesToSegmentOperatingProfit
-11100000 USD
CY2020Q4 us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
13000000.0 USD
CY2019Q4 us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
-10200000 USD
us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
22100000 USD
us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
1400000 USD
CY2020Q4 us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
13000000.0 USD
CY2019Q4 us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
-10200000 USD
us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
22100000 USD
CY2020Q4 sjm Other Investment Municipal Bond Matured In Second Year
OtherInvestmentMunicipalBondMaturedInSecondYear
1500000 USD
us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
1400000 USD
CY2020Q4 sjm Net Gain Loss On Derivative Positions Reclassified From Derivative Gains Losses To Segment Operating Profit
NetGainLossOnDerivativePositionsReclassifiedFromDerivativeGainsLossesToSegmentOperatingProfit
-18500000 USD
sjm Net Gain Loss On Derivative Positions Reclassified From Derivative Gains Losses To Segment Operating Profit
NetGainLossOnDerivativePositionsReclassifiedFromDerivativeGainsLossesToSegmentOperatingProfit
-25600000 USD
sjm Net Gain Loss On Derivative Positions Reclassified From Derivative Gains Losses To Segment Operating Profit
NetGainLossOnDerivativePositionsReclassifiedFromDerivativeGainsLossesToSegmentOperatingProfit
-28500000 USD
CY2020Q4 sjm Net Mark To Market Valuation Of Certain Derivative Positions Recognized In Unallocated Derivative Gains Losses
NetMarkToMarketValuationOfCertainDerivativePositionsRecognizedInUnallocatedDerivativeGainsLosses
31500000 USD
CY2019Q4 sjm Net Mark To Market Valuation Of Certain Derivative Positions Recognized In Unallocated Derivative Gains Losses
NetMarkToMarketValuationOfCertainDerivativePositionsRecognizedInUnallocatedDerivativeGainsLosses
900000 USD
sjm Net Mark To Market Valuation Of Certain Derivative Positions Recognized In Unallocated Derivative Gains Losses
NetMarkToMarketValuationOfCertainDerivativePositionsRecognizedInUnallocatedDerivativeGainsLosses
47700000 USD
sjm Net Mark To Market Valuation Of Certain Derivative Positions Recognized In Unallocated Derivative Gains Losses
NetMarkToMarketValuationOfCertainDerivativePositionsRecognizedInUnallocatedDerivativeGainsLosses
29900000 USD
sjm Cumulative Net Mark To Market Valuation Of Certain Derivative Positions Recognized In Unallocated Derivative Gains Losses
CumulativeNetMarkToMarketValuationOfCertainDerivativePositionsRecognizedInUnallocatedDerivativeGainsLosses
14800000 USD
CY2020 sjm Cumulative Net Mark To Market Valuation Of Certain Derivative Positions Recognized In Unallocated Derivative Gains Losses
CumulativeNetMarkToMarketValuationOfCertainDerivativePositionsRecognizedInUnallocatedDerivativeGainsLosses
-32900000 USD
CY2020Q4 sjm Other Investment Municipal Bond Matured In Fourth Year
OtherInvestmentMunicipalBondMaturedInFourthYear
3500000 USD
CY2020Q4 sjm Other Investment Municipal Bond Matured In Fifth Year And Beyond
OtherInvestmentMunicipalBondMaturedInFifthYearAndBeyond
20800000 USD
CY2020Q4 sjm Other Investment Municipal Bond Matured In Third Year
OtherInvestmentMunicipalBondMaturedInThirdYear
0 USD
CY2020Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
129800000 USD
CY2020Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
148400000 USD
CY2020Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
35500000 USD
CY2020Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
36500000 USD
CY2020Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
105700000 USD
CY2020Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
120000000.0 USD
CY2020Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
141200000 USD
CY2020Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
156500000 USD
CY2020Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
5000000.0 USD
CY2020Q2 us-gaap Finance Lease Liability
FinanceLeaseLiability
5700000 USD
CY2020Q4 us-gaap Operating Lease Cost
OperatingLeaseCost
11100000 USD
CY2019Q4 us-gaap Operating Lease Cost
OperatingLeaseCost
12900000 USD
us-gaap Operating Lease Cost
OperatingLeaseCost
22400000 USD
us-gaap Operating Lease Cost
OperatingLeaseCost
25300000 USD
CY2020Q4 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
600000 USD
CY2019Q4 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
800000 USD
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
1200000 USD
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
1600000 USD
CY2020Q4 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
0 USD
CY2019Q4 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
0 USD
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
100000 USD
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
100000 USD
CY2020Q4 us-gaap Variable Lease Cost
VariableLeaseCost
5500000 USD
CY2020Q4 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
5200000 USD
CY2019Q4 us-gaap Variable Lease Cost
VariableLeaseCost
6300000 USD
us-gaap Variable Lease Cost
VariableLeaseCost
11100000 USD
us-gaap Variable Lease Cost
VariableLeaseCost
12600000 USD
CY2020Q4 us-gaap Short Term Lease Cost
ShortTermLeaseCost
10300000 USD
CY2019Q4 us-gaap Short Term Lease Cost
ShortTermLeaseCost
9700000 USD
us-gaap Short Term Lease Cost
ShortTermLeaseCost
19300000 USD
us-gaap Short Term Lease Cost
ShortTermLeaseCost
17400000 USD
CY2020Q4 us-gaap Sublease Income
SubleaseIncome
1000000.0 USD
CY2019Q4 us-gaap Sublease Income
SubleaseIncome
1500000 USD
us-gaap Sublease Income
SubleaseIncome
2500000 USD
us-gaap Sublease Income
SubleaseIncome
2300000 USD
CY2020Q4 us-gaap Lease Cost
LeaseCost
26500000 USD
CY2019Q4 us-gaap Lease Cost
LeaseCost
28200000 USD
us-gaap Lease Cost
LeaseCost
51600000 USD
us-gaap Lease Cost
LeaseCost
54700000 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
20200000 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
25300000 USD
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FinanceLeaseInterestPaymentOnLiability
100000 USD
us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
100000 USD
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FinanceLeasePrincipalPayments
1400000 USD
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
1500000 USD
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0 USD
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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16200000 USD
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
500000 USD
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
800000 USD
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
20200000 USD
CY2020Q4 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
1200000 USD
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
37200000 USD
CY2020Q4 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
1700000 USD
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LesseeOperatingLeaseLiabilityPaymentsDueYearThree
34600000 USD
CY2020Q4 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
1100000 USD
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LesseeOperatingLeaseLiabilityPaymentsDueYearFour
22900000 USD
CY2020Q4 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
800000 USD
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LesseeOperatingLeaseLiabilityPaymentsDueYearFive
15000000.0 USD
CY2020Q4 us-gaap Finance Lease Liability Payments Due Year Five
FinanceLeaseLiabilityPaymentsDueYearFive
300000 USD
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
20700000 USD
CY2020Q4 us-gaap Finance Lease Liability Payments Due After Year Five
FinanceLeaseLiabilityPaymentsDueAfterYearFive
100000 USD
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
150600000 USD
CY2020Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
9400000 USD
CY2020Q4 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
200000 USD
CY2020Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
141200000 USD
CY2020Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
5000000.0 USD
CY2020Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y6M
CY2020Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y8M12D
CY2020Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P3Y2M12D
CY2020Q2 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P3Y4M24D
CY2020Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.030
CY2020Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.031
CY2020Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.028
CY2020Q2 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.029
CY2020Q4 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.240
CY2019Q4 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.243
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.242
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.247
CY2020Q4 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2019Q4 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
sjm Time Period Over Which It Is Reasonably Possible That Company Could Increase Or Decrease Its Unrecognized Tax Benefits
TimePeriodOverWhichItIsReasonablyPossibleThatCompanyCouldIncreaseOrDecreaseItsUnrecognizedTaxBenefits
P12M
CY2020Q4 us-gaap Significant Change In Unrecognized Tax Benefits Is Reasonably Possible Amount Of Unrecorded Benefit
SignificantChangeInUnrecognizedTaxBenefitsIsReasonablyPossibleAmountOfUnrecordedBenefit
2600000 USD
us-gaap Loss Contingency Disclosures
LossContingencyDisclosures
<div style="margin-top:12pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 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 October 31, 2020. 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><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In addition to the legal proceedings discussed above, we are currently a defendant in Council for Education and Research on Toxics (the “Plaintiff” or “CERT”) v. Brad Barry LLC, et al., which alleges that we, in addition to nearly eighty other defendants (collectively the “Defendants”) who manufacture, package, distribute, or sell packaged coffee, 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 California Safe Drinking Water and Toxic Enforcement Act of 1986 (better known as “Proposition 65”). The Plaintiff sought equitable relief, including warnings to consumers, as well as civil penalties in the amount of the statutory maximum of $2,500 per day per violation of Proposition 65. The Plaintiff asserted that every consumed cup of coffee, absent a compliant warning, was equivalent to a violation under Proposition 65. In June 2019, the state agency responsible for administering the Proposition 65 program, the California Office of Environmental Health Hazard Assessment (“OEHHA”), approved a regulation clarifying that cancer warnings are not required for coffee under Proposition 65, and in August 2020, the Court granted the Defendants’ motion for summary judgment based on the regulation. The Plaintiff submitted its formal notice to appeal on November 20, 2020. The outcome and the financial impact of the case, if any, cannot be predicted at this time. Accordingly, no loss contingency has been recorded for this matter as of October 31, 2020, and the likelihood of loss is not </span></div>considered probable or estimable. However, if we are required to pay significant statutory penalties or to add warning labels to any of our products or place warnings in certain locations where our products are sold as a result of Proposition 65, our business and financial results could be adversely impacted, and sales of those products could suffer not only in these locations but elsewhere.
CY2020Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
300000000.0 shares
CY2020Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
300000000.0 shares
CY2020Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
114100000 shares
CY2020Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
114100000 shares
CY2020Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
32400000 shares
CY2020Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
32400000 shares
us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
0 shares
us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
0 shares
CY2020Q4 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
5000000.0 shares
CY2020Q3 us-gaap Stock Repurchase Program Remaining Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased
3600000 shares
CY2020Q4 us-gaap Stock Repurchase Program Remaining Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased
8600000 shares

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