J M SMUCKER CO, 10-Q filed on 2/27/2025
Quarterly Report
v3.25.0.1
Document and Entity Information - shares
 9 Months Ended
Jan. 31, 2025
Feb. 20, 2025
Entity Listings [Line Items]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Jan. 31, 2025  
Document Transition Report false  
Entity File Number 1-5111  
Entity Registrant Name The J. M. Smucker Company  
Entity Incorporation, State or Country Code OH  
Entity Tax Identification Number 34-0538550  
Entity Address, Address Line One One Strawberry Lane  
Entity Address, City or Town Orrville,  
Entity Address, State or Province OH  
Entity Address, Postal Zip Code 44667-0280  
City Area Code (330)  
Local Phone Number 682-3000  
Title of 12(b) Security Common shares, no par value  
Trading Symbol SJM  
Security Exchange Name NYSE  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Central Index Key 0000091419  
Amendment Flag false  
Document Fiscal Year Focus 2025  
Document Fiscal Period Focus Q3  
Current Fiscal Year End Date --04-30  
Entity Common Stock, Shares Outstanding   106,416,621
v3.25.0.1
Condensed Statements of Consolidated Income (Unaudited) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2025
Jan. 31, 2024
Income Statement [Abstract]        
Net sales $ 2,186.0 $ 2,229.2 $ 6,582.3 $ 5,973.0
Cost of products sold 1,307.9 1,406.1 4,020.9 3,770.9
Gross Profit 878.1 823.1 2,561.4 2,202.1
Selling, distribution, and administrative expenses 367.6 374.2 1,148.4 1,021.3
Amortization 53.9 55.7 165.7 135.1
Goodwill impairment charge 794.3 0.0 794.3 0.0
Other intangible assets impairment charge 208.2 0.0 208.2 0.0
Other special project costs 10.1 98.9 27.9 105.7
Loss (gain) on divestitures – net 50.2 0.3 311.0 12.9
Other operating expense (income) – net (12.2) (3.4) (19.3) 27.3
Operating Income (Loss) (594.0) 297.4 (74.8) 899.8
Interest expense – net (95.4) (99.8) (294.5) (167.0)
Other debt gains (charges) – net 30.3 0.0 30.3 (19.5)
Other income (expense) – net (3.4) (2.1) (10.7) (30.0)
Income (Loss) Before Income Taxes (662.5) 195.5 (349.7) 683.3
Income tax expense (benefit) (0.2) 75.1 152.1 184.4
Net Income (Loss) $ (662.3) $ 120.4 $ (501.8) $ 498.9
Earnings per common share:        
Net Income (Loss) (in dollars per share) $ (6.22) $ 1.14 $ (4.72) $ 4.82
Net Income (Loss) - Assuming Dilution (in dollars per share) $ (6.22) $ 1.13 $ (4.72) $ 4.81
v3.25.0.1
Condensed Statements of Consolidated Comprehensive Income (Unaudited) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2025
Jan. 31, 2024
Statement of Comprehensive Income [Abstract]        
Net income (loss) $ (662.3) $ 120.4 $ (501.8) $ 498.9
Other comprehensive income (loss):        
Foreign currency translation adjustments (3.6) 9.0 (14.3) 2.4
Cash flow hedging derivative activity, net of tax 45.8 3.0 51.0 8.2
Pension and other postretirement benefit plans activity, net of tax 0.3 0.5 1.0 1.0
Available-for-sale securities activity, net of tax (0.8) 0.6 (0.4) 0.2
Total Other Comprehensive Income (Loss) 41.7 13.1 37.3 11.8
Comprehensive Income (Loss) $ (620.6) $ 133.5 $ (464.5) $ 510.7
v3.25.0.1
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Millions
Jan. 31, 2025
Apr. 30, 2024
Current Assets    
Cash and cash equivalents $ 47.2 $ 62.0
Trade receivables – net 654.3 736.5
Inventories:    
Finished products 575.6 639.4
Raw materials 510.7 399.5
Total Inventory 1,086.3 1,038.9
Other current assets 187.5 129.5
Total Current Assets 1,975.3 1,966.9
Property, Plant, and Equipment    
Land and land improvements 150.4 152.4
Buildings and fixtures 1,290.7 1,174.9
Machinery and equipment 3,182.1 2,933.7
Construction in progress 712.1 911.7
Gross Property, Plant, and Equipment 5,335.3 5,172.7
Accumulated depreciation (2,283.6) (2,100.0)
Total Property, Plant, and Equipment 3,051.7 3,072.7
Other Noncurrent Assets    
Operating lease right-of-use assets 121.4 174.6
Goodwill 6,569.7 7,649.9
Other intangible assets – net 6,511.1 7,255.4
Assets held for sale – net 37.1 0.0
Other noncurrent assets 159.3 154.2
Total Other Noncurrent Assets 13,398.6 15,234.1
Total Assets 18,425.6 20,273.7
Current Liabilities    
Accounts payable 1,133.3 1,336.2
Accrued trade marketing and merchandising 207.1 214.3
Current portion of long-term debt [1] 999.9 999.3
Short-term borrowings 461.9 591.0
Other current liabilities 487.2 620.3
Total Current Liabilities 3,289.4 3,761.1
Noncurrent Liabilities    
Long-term debt, less current portion [1] 6,385.5 6,773.7
Deferred income taxes 1,592.9 1,737.4
Noncurrent operating lease liabilities 89.8 143.5
Other noncurrent liabilities 160.7 164.1
Total Noncurrent Liabilities 8,228.9 8,818.7
Total Liabilities 11,518.3 12,579.8
Shareholders’ Equity    
Common shares 26.6 26.5
Additional capital 5,732.9 5,713.9
Retained income 1,345.1 2,188.1
Accumulated other comprehensive income (loss) (197.3) (234.6)
Total Shareholders’ Equity 6,907.3 7,693.9
Total Liabilities and Shareholders’ Equity $ 18,425.6 $ 20,273.7
[1] Represents the carrying amount included in the Condensed Consolidated Balance Sheets, which includes the impact of capitalized debt issuance costs, offering discounts, and terminated interest rate contracts.
v3.25.0.1
Condensed Statements of Consolidated Cash Flows (Unaudited) - USD ($)
$ in Millions
 9 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Operating Activities    
Net income (loss) $ (501.8) $ 498.9
Adjustments to reconcile net income (loss) to net cash provided by (used for) operations:    
Depreciation 213.4 170.7
Amortization 165.7 135.1
Goodwill impairment charge 794.3 0.0
Other intangible assets impairment charge 208.2 0.0
Realized loss on investment in equity securities – net 0.0 21.5
Share-based compensation expense 25.2 15.9
Loss (gain) on divestitures – net 311.0 12.9
Deferred income tax expense (benefit) (63.2) (22.1)
Other noncash adjustments – net 6.7 25.5
Settlement of interest rate contracts 0.0 42.5
Changes in assets and liabilities, net of effect from acquisition and divestitures:    
Trade receivables 80.5 (10.8)
Inventories (59.2) 55.3
Other current assets (27.7) 13.2
Accounts payable (173.7) (147.9)
Accrued liabilities (117.0) 61.8
Income and other taxes (33.5) (43.5)
Other – net (12.4) (27.7)
Net Cash Provided by (Used for) Operating Activities 816.5 801.3
Investing Activities    
Business acquired, net of cash acquired 0.0 (3,920.6)
Proceeds from sale of equity securities 0.0 466.3
Additions to property, plant, and equipment (298.8) (455.9)
Proceeds from divestitures – net 290.5 50.5
Other – net (10.2) (1.5)
Net Cash Provided by (Used for) Investing Activities (18.5) (3,861.2)
Financing Activities    
Short-term borrowings (repayments) – net (153.2) 413.2
Proceeds from long-term debt 0.0 4,285.0
Repayments of long-term debt (300.0) (1,441.0)
Capitalized debt issuance costs 0.0 (32.1)
Quarterly dividends paid (340.9) (325.5)
Purchase of treasury shares (3.1) (372.5)
Payment of assumed tax receivable agreement obligation 0.0 (86.4)
Other – net (13.4) (1.2)
Net Cash Provided by (Used for) Financing Activities (810.6) 2,439.5
Effect of exchange rate changes on cash (2.2) 0.5
Net increase (decrease) in cash and cash equivalents (14.8) (619.9)
Cash and cash equivalents at beginning of period 62.0 655.8
Cash and cash equivalents at end of period $ 47.2 $ 35.9
v3.25.0.1
Condensed Statements of Consolidated Shareholders' Equity (Unaudited) - USD ($)
$ in Millions
Total
Common Shares
Additional Capital
Retained Income
Accumulated Other Comprehensive Income (Loss)
Balance at Apr. 30, 2023 $ 7,290.8 $ 26.1 $ 5,371.8 $ 2,132.1 $ (239.2)
Balance, shares at Apr. 30, 2023   104,398,618      
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net income (loss) 183.6     183.6  
Other comprehensive income (loss) 10.2       10.2
Comprehensive income (loss) 193.8        
Purchase of treasury shares (375.6) $ (0.6) (132.1) (242.9)  
Purchase of treasury shares, shares   (2,410,863)      
Stock plans 1.3 $ 0.0 2.4 (1.1)  
Stock plans, shares   144,918      
Cash dividends declared (106.9)     (106.9)  
Balance at Jul. 31, 2023 7,003.4 $ 25.5 5,242.1 1,964.8 (229.0)
Balance, shares at Jul. 31, 2023   102,132,673      
Balance at Apr. 30, 2023 7,290.8 $ 26.1 5,371.8 2,132.1 (239.2)
Balance, shares at Apr. 30, 2023   104,398,618      
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net income (loss) 498.9        
Other comprehensive income (loss) 11.8        
Comprehensive income (loss) 510.7        
Balance at Jan. 31, 2024 7,560.1 $ 26.5 5,706.0 2,055.0 (227.4)
Balance, shares at Jan. 31, 2024   106,177,319      
Balance at Jul. 31, 2023 7,003.4 $ 25.5 5,242.1 1,964.8 (229.0)
Balance, shares at Jul. 31, 2023   102,132,673      
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net income (loss) 194.9     194.9  
Other comprehensive income (loss) (11.5)       (11.5)
Comprehensive income (loss) 183.4        
Purchase of treasury shares (0.4) $ 0.0 (0.4) 0.0  
Purchase of treasury shares, shares   (3,139)      
Stock plans 11.1 $ 0.0 11.1    
Stock plans, shares   25,067      
Cash dividends declared (108.6)     (108.6)  
Balance at Oct. 31, 2023 7,088.9 $ 25.5 5,252.8 2,051.1 (240.5)
Balance, shares at Oct. 31, 2023   102,154,601      
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net income (loss) 120.4     120.4  
Other comprehensive income (loss) 13.1       13.1
Comprehensive income (loss) 133.5        
Purchase of treasury shares (0.1) $ 0.0 (0.1) 0.0  
Purchase of treasury shares, shares   (1,101)      
Stock Issued During Period, Value, Acquisitions 450.2 $ 1.0 449.2    
Stock Issued During Period, Shares, Acquisitions   3,989,915      
Stock plans 4.1 $ 0.0 4.1    
Stock plans, shares   33,904      
Cash dividends declared (116.5)     (116.5)  
Balance at Jan. 31, 2024 7,560.1 $ 26.5 5,706.0 2,055.0 (227.4)
Balance, shares at Jan. 31, 2024   106,177,319      
Balance at Apr. 30, 2024 $ 7,693.9 $ 26.5 5,713.9 2,188.1 (234.6)
Balance, shares at Apr. 30, 2024 106,200,000 106,194,281      
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net income (loss) $ 185.0     185.0  
Other comprehensive income (loss) 2.4       2.4
Comprehensive income (loss) 187.4        
Purchase of treasury shares (2.6) $ 0.0 (3.2) 0.6  
Purchase of treasury shares, shares   (22,748)      
Stock plans 5.4 $ 0.1 4.5 0.8  
Stock plans, shares   236,997      
Cash dividends declared (114.6)     (114.6)  
Balance at Jul. 31, 2024 7,769.5 $ 26.6 5,715.2 2,259.9 (232.2)
Balance, shares at Jul. 31, 2024   106,408,530      
Balance at Apr. 30, 2024 $ 7,693.9 $ 26.5 5,713.9 2,188.1 (234.6)
Balance, shares at Apr. 30, 2024 106,200,000 106,194,281      
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net income (loss) $ (501.8)        
Other comprehensive income (loss) 37.3        
Comprehensive income (loss) (464.5)        
Balance at Jan. 31, 2025 $ 6,907.3 $ 26.6 5,732.9 1,345.1 (197.3)
Balance, shares at Jan. 31, 2025 106,400,000 106,417,996      
Balance at Jul. 31, 2024 $ 7,769.5 $ 26.6 5,715.2 2,259.9 (232.2)
Balance, shares at Jul. 31, 2024   106,408,530      
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net income (loss) (24.5)     (24.5)  
Other comprehensive income (loss) (6.8)       (6.8)
Comprehensive income (loss) (31.3)        
Purchase of treasury shares   $ 0.0 0.3 0.0  
Purchase of treasury shares 0.3        
Purchase of treasury shares, shares   (972)      
Stock plans 8.2 $ 0.0 8.2    
Stock plans, shares   8,972      
Cash dividends declared (113.6)     (113.6)  
Balance at Oct. 31, 2024 7,633.1 $ 26.6 5,723.7 2,121.8 (239.0)
Balance, shares at Oct. 31, 2024   106,416,530      
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net income (loss) (662.3)     (662.3)  
Other comprehensive income (loss) 41.7       41.7
Comprehensive income (loss) (620.6)        
Purchase of treasury shares (0.4) $ 0.0 (0.4) 0.0  
Purchase of treasury shares, shares   (3,549)      
Stock plans 9.6 $ 0.0 9.6    
Stock plans, shares   5,015      
Cash dividends declared (114.4)     (114.4)  
Balance at Jan. 31, 2025 $ 6,907.3 $ 26.6 $ 5,732.9 $ 1,345.1 $ (197.3)
Balance, shares at Jan. 31, 2025 106,400,000 106,417,996      
v3.25.0.1
Condensed Statements of Consolidated Shareholders' Equity (Unaudited) (Parentheticals) - USD ($)
$ in Millions
 3 Months Ended
Jan. 31, 2025
Oct. 31, 2024
Jul. 31, 2024
Jan. 31, 2024
Oct. 31, 2023
Jul. 31, 2023
Statement of Stockholders' Equity [Abstract]            
Cash dividends declared, per common share $ 1.08 $ 1.08 $ 1.08 $ 1.06 $ 1.06 $ 1.06
Stock Issued During Period, Value, Acquisitions       $ 450.2    
v3.25.0.1
Basis of Presentation
 9 Months Ended
Jan. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Basis of Presentation
The unaudited interim condensed consolidated financial statements of The J. M. Smucker Company (“Company,” “we,” “us,” or “our”) have been prepared in accordance with United States (“U.S.”) generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all the information and notes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments of a normal recurring nature considered necessary for a fair presentation have been included.
Operating results for the nine months ended January 31, 2025, are not necessarily indicative of the results that may be expected for the year ending April 30, 2025. For further information, reference is made to the consolidated financial statements and notes included in our Annual Report on Form 10-K for the year ended April 30, 2024.
v3.25.0.1
Recently Issued Accounting Standards
 9 Months Ended
Jan. 31, 2025
Accounting Changes and Error Corrections [Abstract]  
Recently Issued Accounting Standards
In November 2024, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. ASU 2024-03 will provide investors with more decision-useful information about an entity’s expenses by improving disclosures on income statement expenses. The amendments in this ASU will require public business entities to disclose disaggregated information about specific categories underlying certain income statement expense line items. It will be effective for our annual period beginning May 1, 2027, and interim periods beginning May 1, 2028, with the option to early adopt at any time prior to the effective dates on either a prospective or retrospective basis. We do not anticipate any impact to our financial statements upon adoption and are currently evaluating the impacts of the standard on our disclosures.
In March 2024, the U.S. Securities and Exchange Commission (the “SEC”) adopted the final rule under SEC Release Nos. 33-11275 and 34-99678, The Enhancement and Standardization of Climate-Related Disclosures for Investors; however, in April 2024, the SEC stayed implementation of the final rule pending the outcome of a judicial review, and in February 2025, the SEC requested that litigation be paused so that it can determine the appropriate next steps. If the rules become effective, they would require registrants to provide certain climate-related information in their registration statements and annual reports. The rules would require the disclosure of significant effects of severe weather events and other natural conditions, as well as amounts related to carbon offsets and renewable energy credits or certificates, in the audited financial statements in certain circumstances. Disclosure of the actual and potential material impacts of any identified climate-related risks on the registrant’s strategy, business model, and outlook would also be required, along with the process used to identify, assess, and manage these risks. In addition, the rules would require disclosure of material climate-related targets or goals, material Scope 1 and Scope 2 greenhouse gas emissions, and the methodology used to calculate those emissions. We do not anticipate any impact to our financial statements if the rules are adopted and continue to evaluate the impacts on our disclosures.
In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740) Improvements to Income Tax Disclosures. ASU 2023-09 will improve the transparency and decision usefulness of income tax disclosures to better assess how operations and related tax risks affect tax rates and future cash flows on an interim and annual basis. It will be effective for us on May 1, 2025, and can be adopted either on a prospective or retrospective basis. We do not anticipate any impact to our financial statements upon adoption and are currently evaluating the impacts of the standard on our disclosures.
In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280) Improvements to Reportable Segment Disclosures. ASU 2023-07 will improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses on an interim and annual basis. It will be effective for our annual period beginning May 1, 2024, and interim periods beginning May 1, 2025, with the option to early adopt at any time prior to the effective dates and will require adoption on a retrospective basis. We do not anticipate any impact to our financial statements upon adoption and are currently evaluating the impacts of the standard on our disclosures.
v3.25.0.1
Acquisition
 9 Months Ended
Jan. 31, 2025
Business Combination and Asset Acquisition [Abstract]  
Acquisition
On November 7, 2023, we completed a cash and stock transaction to acquire Hostess Brands, Inc. (“Hostess Brands”). The total purchase consideration in connection with the acquisition was $5.4 billion, which reflects an exchange offer of all outstanding shares of Hostess Brands common stock at a price of $34.25 per share, consisting of $30.00 in cash and 0.03002 shares of our common shares, based on the closing stock price on September 8, 2023, that were exchanged for each share of Hostess Brands common stock as of the transaction date.
The purchase price included the issuance of approximately 4.0 million of our common shares to Hostess Brands’ shareholders, valued at $450.2, as discussed in Note 17: Common Shares. In addition, we paid $3.9 billion in cash, net of cash acquired, and assumed $991.0 of debt from Hostess Brands and $67.8 of an other debt-like item, reflecting consideration transferred for the cash payment of Hostess Brands’ employee equity awards. New debt of $5.0 billion was borrowed, consisting of $3.5 billion in Senior Notes, an $800.0 senior unsecured delayed-draw Term Loan Credit Agreement (“Term Loan”), and $700.0 of short-term borrowings under our commercial paper program to partially fund the transaction and pay off the debt assumed as part of the acquisition. For additional information on the financing associated with this transaction, refer to Note 9: Debt and Financing Arrangements.
Hostess Brands is a manufacturer and marketer of sweet baked goods brands and included Hostess® Donettes®, Twinkies®, CupCakes, DingDongs®, Zingers®, CoffeeCakes, HoHos®, Mini Muffins, and Fruit Pies, and the Voortman® brand at the acquisition date. In addition to its headquarters in Lenexa, Kansas, the transaction included six manufacturing facilities located in Emporia, Kansas; Burlington, Ontario; Chicago, Illinois; Columbus, Georgia; Indianapolis, Indiana; and Arkadelphia, Arkansas, a distribution facility in Edgerton, Kansas, and a commercial center of excellence in Chicago, Illinois.
The transaction was accounted for under the acquisition method of accounting, and accordingly, the results of Hostess Brands operations, including net sales of $278.6 and $927.8 and operating losses of $1,021.6 and $1,180.8, are included within the Sweet Baked Snacks segment for the three and nine months ended January 31, 2025, respectively. The operating loss for the nine months ended January 31, 2025, includes a $794.3 pre-tax impairment charge related to the goodwill of the Sweet Baked Snacks reporting unit, a $208.2 pre-tax impairment charge related to the Hostess brand indefinite-lived trademark, a $42.6 pre-tax loss on the Sweet Baked Snacks value brand disposal group classified as held for sale during the third quarter of 2025, a $268.4 pre-tax loss on the disposal of the Voortman business, and excludes special project costs related to transaction and integration costs recognized within the segment. For additional information, refer to Note 4: Divestitures and Note 8: Goodwill and Other Intangible Assets.
The final purchase price was allocated to the underlying assets acquired and liabilities assumed based upon their estimated fair values at the date of acquisition. We determined the estimated fair values based on independent appraisals, discounted cash flow analyses, quoted market prices, and estimates made by management. The purchase price exceeded the estimated fair value of the net identifiable tangible and intangible assets acquired, and, as such, the excess was allocated to goodwill.
The following table summarizes the fair values of the assets acquired and liabilities assumed at the acquisition date.
Assets acquired:
Cash and cash equivalents$135.0 
Trade receivables – net181.1 
Inventories66.0 
Other current assets6.0 
Property, plant, and equipment – net534.5 
Operating lease right-of-use assets17.2 
Goodwill2,446.8 
Other intangible assets – net3,038.6 
Other noncurrent assets43.2 
Total assets acquired$6,468.4 
Liabilities assumed:
Accounts payable$67.3 
Other current liabilities249.0 
Deferred income taxes639.4 
Noncurrent operating lease liabilities14.5 
Other noncurrent liabilities 1.4 
Total liabilities assumed971.6 
Net assets acquired$5,496.8 
As a result of the acquisition, we recognized a total of $2.4 billion of goodwill within the Sweet Baked Snacks segment. Of the total goodwill, $196.6 was deductible for tax purposes at the acquisition date, of which $170.3 remains deductible as of January 31, 2025. The goodwill recognized at acquisition represented the value we expected to achieve through the implementation of operational synergies and growth opportunities as we integrate Hostess Brands into our Company. During the third quarter of 2025, we recognized total pre-tax impairment charges of $1.0 billion, of which $794.3 and $208.2 related to the goodwill of the Sweet Baked Snacks reporting unit and the Hostess brand indefinite-lived trademark, respectively. The remaining goodwill and indefinite-lived trademarks resulting from the acquisition remain susceptible to future impairment charges, as the carrying values approximate estimated fair values due to the impairment charges recognized during the third quarter of 2025 and being recently acquired. Any significant adverse change in our near or long-term projections or macroeconomic conditions would result in future impairment charges. For additional information, refer to Note 8: Goodwill and Other Intangible Assets.
The following table summarizes the purchase price allocated to the identifiable intangible assets acquired.
Intangible assets with finite lives:
Customer and contractual relationships (25-year useful life)
$1,238.5 
Non-competition agreements (varying useful lives)38.0 
Trademarks (5-year useful life)
9.9 
Intangible assets with indefinite lives:
Trademarks$1,752.2 
Total intangible assets$3,038.6 
The annual amortization expense for the finite-lived intangible assets based on the purchase price allocation is $71.6.
Hostess Brands’ results of operations are included in our condensed consolidated financial statements from the date of the transaction within our Sweet Baked Snacks segment. If the transaction had occurred on May 1, 2022, unaudited pro forma consolidated results for the three and nine months ended January 31, 2024, would have been as follows:
Three Months Ended January 31, 2024Nine Months Ended January 31, 2024
Net sales$2,253.2 $6,707.1 
Net income (loss)162.7 508.5 
Net income (loss) per common share – assuming dilution1.53 4.78 
The unaudited pro forma consolidated results are based on our historical financial statements and those of Hostess Brands and do not necessarily indicate the results of operations that would have resulted had the acquisition been completed at the beginning of the applicable period presented. The most significant pro forma adjustments relate to interest expense associated with acquisition-related financing, the elimination of nonrecurring acquisition-related costs incurred prior to the close of the transaction, amortization of acquired intangible assets, and depreciation of acquired property, plant, and equipment. The unaudited pro forma consolidated results do not give effect to the synergies of the acquisition and are not indicative of the results of operations in future periods.
v3.25.0.1
Divestitures
 9 Months Ended
Jan. 31, 2025
Discontinued Operations and Disposal Groups [Abstract]  
Divestitures
On January 31, 2025, we entered into a definitive agreement to sell certain Sweet Baked Snacks value brands to JTM Foods, LLC (“JTM”). We expect the transaction to close during the fourth quarter of 2025. The transaction includes certain trademarks and licenses, a manufacturing facility in Chicago, Illinois, and approximately 400 employees who support the business. Under our ownership, these Sweet Baked Snacks value brands generated net sales of approximately $30.0 in 2024, which represents a partial year of net sales reported in the Sweet Baked Snacks segment results following the acquisition of Hostess Brands on November 7, 2023. The transaction is valued at approximately $40.0, subject to a working capital adjustment. As of January 31, 2025, the disposal group met the criteria to be classified as held for sale, and as a result, a valuation allowance was established to reflect the fair value of the disposal group less costs to sell, which was based on the expected proceeds and the estimated carrying value of the net assets to be disposed. The valuation allowance was included within assets held for sale – net in the Condensed Consolidated Balance Sheet, and the estimated pre-tax loss on the disposal group was included within loss (gain) on divestitures – net in the Condensed Statement of Consolidated Income and Condensed Statement of Consolidated Cash Flows.
The following table summarizes the net assets held for sale at January 31, 2025, inclusive of a valuation allowance, reflecting the fair value less costs to sell.
January 31, 2025
Sweet Baked Snacks value brands
Assets held for sale:
Inventories$4.6 
Property, plant, and equipment – net42.9 
Operating lease right-of-use assets0.9 
Goodwill26.3 
Other intangible assets – net5.0 
Valuation allowance(42.6)
Total assets held for sale$37.1 
Liabilities held for sale:
Other current liabilities$0.9 
Noncurrent operating lease liabilities0.3 
Total liabilities held for sale1.2 
Net assets held for sale$35.9 
On December 2, 2024, we sold the Voortman business to Second Nature Brands (“Second Nature”). The transaction included products sold under the Voortman brand, inclusive of certain trademarks, a leased manufacturing facility in Burlington, Ontario, and approximately 300 employees who supported the business. Under our ownership, the Voortman business generated net sales of approximately $65.0 in 2024, which represents a partial year of net sales reported in the Sweet Baked Snacks segment
results following the acquisition of Hostess Brands on November 7, 2023. Net proceeds from the divestiture were $290.5, net of a preliminary working capital adjustment and cash transaction costs. During the second quarter of 2025, the disposal group met the criteria to be classified as held for sale, and as a result, an estimated pre-tax loss of $260.8 was recognized within loss (gain) on divestitures – net in the Condensed Statement of Consolidated Income and Condensed Statement of Consolidated Cash Flows. Upon close of the transaction during the third quarter of 2025, the pre-tax loss was adjusted to $268.4, reflecting the fair value of the disposal group as of the transaction date.
The following table summarizes the net assets and liabilities included in the disposal group associated with the Voortman business divestiture.
January 31, 2025
Voortman
Assets disposed:
Cash and cash equivalents$1.4 
Inventories7.7 
Other current assets0.7 
Property, plant, and equipment – net33.9 
Operating lease right-of-use assets8.2 
Goodwill251.1 
Other intangible assets – net363.0 
Total assets disposed$666.0 
Liabilities disposed:
Accrued expenses
$1.9 
Current operating lease obligations
1.3 
Deferred income taxes95.2 
Noncurrent operating lease liabilities7.4 
Other noncurrent liabilities0.9 
Total liabilities disposed106.7 
Net assets disposed$559.3 
On January 2, 2024, we sold the Canada condiment business to TreeHouse Foods, Inc. (“TreeHouse Foods”). The transaction included Bick’s® pickles, Habitant® pickled beets, Woodman’s® horseradish, and McLarens® pickled onions brands, inclusive of certain trademarks. Under our ownership, these brands generated net sales of $43.8 in 2024, which were included in the International operating segment. Final net proceeds from the divestiture were $25.3, inclusive of a working capital adjustment and cash transaction costs, resulting in a final pre-tax loss of $5.7, of which $5.2 was recognized during the second quarter of 2024, as the disposal group met the criteria to be classified as held for sale, and a valuation allowance was established to reflect the fair value of the disposal group less costs to sell. The valuation allowance was included within loss (gain) on divestitures – net in the Condensed Statement of Consolidated Income and Condensed Statement of Consolidated Cash Flows. Upon close of the transaction during the third quarter of 2024, the pre-tax loss was adjusted to $5.7, reflecting the fair value of the disposal group as of the transaction date.
On November 1, 2023, we sold the Sahale Snacks® business to Second Nature. The transaction included products sold under the Sahale Snacks brand, inclusive of certain trademarks and licensing agreements, a leased manufacturing facility in Seattle, Washington, and approximately 100 employees who supported the brand. Under our ownership, the Sahale Snacks brand generated net sales of $24.1 in 2024, primarily included in the U.S. Retail Frozen Handheld and Spreads segment. Final net proceeds from the divestiture were $31.6, inclusive of a working capital adjustment and cash transaction costs, resulting in a final pre-tax loss of $6.7, of which $6.8 was recognized during the second quarter of 2024, as the disposal group met the criteria to be classified as held for sale, and a valuation allowance was established to reflect the fair value of the disposal group less costs to sell. The valuation allowance was included within loss (gain) on divestitures – net in the Condensed Statement of Consolidated Income and Condensed Statement of Consolidated Cash Flows. Upon close of the transaction during the third quarter of 2024, the pre-tax loss was adjusted to $6.7, reflecting the fair value of the disposal group as of the transaction date.
On April 28, 2023, we sold certain pet food brands to Post Holdings, Inc. (“Post”). The transaction included the Rachael Ray® Nutrish®, 9Lives®, Kibbles ’n Bits®, Nature’s Recipe®, and Gravy Train® brands, as well as the private label pet food business, inclusive of certain trademarks and licensing agreements, manufacturing and distribution facilities in Bloomsburg, Pennsylvania, manufacturing facilities in Meadville, Pennsylvania and Lawrence, Kansas, and approximately 1,100 employees
who supported these pet food brands. Final net proceeds from the divestiture were $1.2 billion, consisting of $683.9 in cash, net of a working capital adjustment and cash transaction costs, and approximately 5.4 million shares of Post common stock, valued at $491.6 at the close of the transaction. We recognized a pre-tax loss of $1.0 billion upon completion of this transaction during 2023. During the first half of 2024, we finalized the working capital adjustment and transaction costs, which resulted in an immaterial adjustment to the pre-tax loss. Furthermore, during the first quarter of 2024, we entered into equity forward derivative transactions under an agreement with an unrelated third-party to facilitate the forward sale of the Post common stock. All 5.4 million shares of Post common stock were settled for $466.3 under the equity forward contract on November 15, 2023. For additional information, see Note 11: Derivative Financial Instruments.
v3.25.0.1
Special Project Costs
 9 Months Ended
Jan. 31, 2025
Restructuring and Related Activities [Abstract]  
Special Project Costs
Special project costs consist primarily of employee-related costs and other transition and termination costs related to certain divestiture, acquisition, integration, and restructuring activities. Employee-related costs include severance, retention bonuses, and relocation costs. Severance costs are generally recognized when deemed probable and reasonably estimable, retention bonuses are recognized over the estimated future service period of the impacted employees, and relocation costs are expensed as incurred. Other transition and termination costs include fixed asset-related charges, contract and lease termination costs, professional fees, and other miscellaneous expenditures associated with divestiture, acquisition, integration, and restructuring activities. With the exception of accelerated depreciation, these costs are expensed as incurred. These special project costs are reported in cost of products sold, other special project costs, other debt gains (charges) – net, and other income (expense) – net in the Condensed Statements of Consolidated Income and are not allocated to segment profit. The obligation related to employee separation costs is included in other current liabilities in the Condensed Consolidated Balance Sheets.
Divestiture Costs: Total divestiture costs incurred to date related to the divested Sahale Snacks and Canada condiment businesses were $7.2, which included $4.3 and $2.9 of employee-related and other transition and termination costs, respectively, all of which were cash charges. We incurred divestiture costs of $1.3 and $1.7 during the three and nine months ended January 31, 2025, respectively, primarily consisting of employee-related costs. As of January 31, 2025, we have incurred the majority of the anticipated costs related to these divestitures and expect minimal costs to be incurred during the remainder of 2025. The obligation related to severance and retention bonuses was $2.5 at April 30, 2024 and was fully satisfied as of January 31, 2025.
Furthermore, we identified opportunities to address certain distribution inefficiencies, as a result of the recent divestitures. We anticipate incurring approximately $12.0 of costs related to these efforts, consisting primarily of other transition and termination charges. The majority of these costs are expected to be cash charges and incurred by the end of 2026, with approximately half of the costs expected to be recognized in 2025. We have recognized total cumulative costs of $3.1, of which $2.1 and $3.0 were recognized during the three and nine months ended January 31, 2025, respectively, primarily consisting of other transition and termination costs. For additional information, see Note 4: Divestitures.
Integration Costs: Total integration costs related to the acquisition of Hostess Brands are anticipated to be approximately $210.0 and include transaction costs, employee-related costs, and other transition and termination charges, with the majority expected to be cash charges.
The following table summarizes our integration costs incurred related to the acquisition of Hostess Brands.
Three Months Ended January 31, 2025Nine Months Ended January 31, 2025Total Costs Incurred to Date at January 31, 2025
Transaction costs$— $— $99.0 
Employee-related costs2.5 9.5 42.9 
Other transition and termination costs5.3 25.4 40.4 
Total integration costs$7.8 $34.9 $182.3 
Cumulative noncash charges incurred through January 31, 2025, were $16.4 and include $1.7 and $13.2 during the three and nine months ended January 31, 2025, respectively, which primarily consist of accelerated depreciation. Transaction costs primarily reflect equity compensation payouts, legal fees, and fees related to a 364-day senior unsecured Bridge Term Loan Credit Facility (“Bridge Loan”) that provided committed financing for the acquisition of Hostess Brands. Other transition and termination costs primarily consist of contract termination charges, accelerated depreciation, and consulting fees. We anticipate the remaining integration costs will be incurred by the end of 2026 and are expected to be split between employee-related and other transition and termination costs. The obligation related to severance and retention bonuses was $10.8 and $28.0 at January 31, 2025, and April 30, 2024, respectively. For additional information, see Note 3: Acquisition.
v3.25.0.1
Reportable Segments
 9 Months Ended
Jan. 31, 2025
Segment Reporting [Abstract]  
Reportable Segments
We operate in one industry: the manufacturing and marketing of food and beverage products. We have four reportable segments: U.S. Retail Coffee, U.S. Retail Frozen Handheld and Spreads, U.S. Retail Pet Foods, and Sweet Baked Snacks. The presentation of International and Away From Home represents a combination of all other operating segments that are not individually reportable.
The U.S. Retail Coffee segment primarily includes the domestic sales of Folgers®, Dunkin’®, and Café Bustelo® branded coffee; the U.S. Retail Frozen Handheld and Spreads segment primarily includes the domestic sales of Uncrustables®, Jif®, and Smucker’s® branded products; the U.S. Retail Pet Foods segment primarily includes the domestic sales of Meow Mix®, Milk-Bone®, Pup-Peroni®, and Canine Carry Outs® branded products; and the Sweet Baked Snacks segment primarily includes all domestic and foreign sales of Hostess branded products in all channels. With the exception of Sweet Baked Snacks products, International and Away From Home includes the sale of all products that are distributed in foreign countries through retail channels, as well as 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).
Segment profit represents net sales, less direct and allocable operating expenses, and is consistent with the way in which we manage 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 net change in cumulative unallocated gains and losses on commodity and foreign currency exchange derivative activities (“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 table reconciles segment profit to income before income taxes.
 Three Months Ended January 31,Nine Months Ended January 31,
 2025202420252024
Net sales:
U.S. Retail Coffee$740.6 $727.5 $2,068.0 $2,038.3 
U.S. Retail Frozen Handheld and Spreads445.2 436.8 1,427.2 1,365.1 
U.S. Retail Pet Foods423.0 465.2 1,268.1 1,370.2 
Sweet Baked Snacks278.6 300.3 927.8 300.3 
International and Away From Home298.6 299.4 891.2 899.1 
Total net sales$2,186.0 $2,229.2 $6,582.3 $5,973.0 
Segment profit:
U.S. Retail Coffee$208.6 $207.8 $583.9 $548.9 
U.S. Retail Frozen Handheld and Spreads99.2 104.1 334.3 338.3 
U.S. Retail Pet Foods116.8 109.5 353.5 288.0 
Sweet Baked Snacks54.8 68.0 199.8 68.0 
International and Away From Home61.6 50.4 178.2 147.0 
Total segment profit$541.0 $539.8 $1,649.7 $1,390.2 
Amortization(53.9)(55.7)(165.7)(135.1)
Goodwill impairment charge(794.3)— (794.3)— 
Other intangible assets impairment charge(208.2)— (208.2)— 
Gain (loss) on divestitures – net(50.2)(0.3)(311.0)(12.9)
Interest expense – net(95.4)(99.8)(294.5)(167.0)
Change in net cumulative unallocated derivative gains and losses60.0 (5.2)41.7 (21.1)
Cost of products sold – special project costs(1.1)— (11.7)— 
Other special project costs(10.1)(98.9)(27.9)(105.7)
Other debt gains (charges) – net
30.3 — 30.3 (19.5)
Corporate administrative expenses(77.2)(82.3)(247.4)(215.6)
Other income (expense) – net(3.4)(2.1)(10.7)(30.0)
Income before income taxes$(662.5)$195.5 $(349.7)$683.3 
The following table presents certain geographical information.
Three Months Ended January 31,Nine Months Ended January 31,
2025202420252024
Net sales:
United States$2,068.4 $2,094.7 $6,220.0 $5,567.4 
International:
Canada$89.8 $111.8 $271.9 $333.0 
All other international27.8 22.7 90.4 72.6 
Total international$117.6 $134.5 $362.3 $405.6 
Total net sales$2,186.0 $2,229.2 $6,582.3 $5,973.0 
The following table presents product category information.
Three Months Ended January 31,Nine Months Ended January 31,
2025202420252024
Primary Reportable Segment (A)
Coffee$830.8 $817.6 $2,339.7 $2,305.1 U.S. Retail Coffee
Sweet baked goods266.1 270.2 841.9 270.2 Sweet Baked Snacks
Pet snacks237.4 261.0 719.4 760.3 U.S. Retail Pet Foods
Frozen handheld210.5 182.6 679.6 573.8 U.S. Retail Frozen Handheld and Spreads
Peanut butter200.9 204.5 633.3 617.1 U.S. Retail Frozen Handheld and Spreads
Cat food197.8 203.4 581.7 599.1 U.S. Retail Pet Foods
Fruit spreads99.4 108.2 307.6 321.7 U.S. Retail Frozen Handheld and Spreads
Portion control53.1 51.5 164.0 153.1 
Other (B)
Cookies12.9 30.1 86.3 30.1 Sweet Baked Snacks
Toppings and syrups20.7 21.0 69.3 67.7 U.S. Retail Frozen Handheld and Spreads
Baking mixes and ingredients23.2 23.1 66.3 68.0 
Other (B)
Dog food5.2 17.4 19.0 64.5 U.S. Retail Pet Foods
Other28.0 38.6 74.2 142.3 
Other (B)
Total net sales$2,186.0 $2,229.2 $6,582.3 $5,973.0 
(A)The primary reportable segment generally represents at least 75 percent of total net sales for each respective product category.
(B)Represents the combined International and Away From Home operating segments.
v3.25.0.1
Earnings per Share
 9 Months Ended
Jan. 31, 2025
Earnings Per Share [Abstract]  
Earnings per Share
We computed net income (loss) per common share (“basic earnings per share”) under the two-class method for the three and nine months ended January 31, 2025 and 2024, due to certain unvested common shares that contained non-forfeitable rights to dividends (i.e., participating securities) during these periods. Further, we computed net income (loss) per common share – assuming dilution (“diluted earnings per share”) under the two-class and treasury stock methods to determine the method that was most dilutive, in accordance with FASB ASC 260, Earnings Per Share. For the three and nine months ended January 31, 2024, the computation of diluted earnings per share was more dilutive under the treasury stock method, as compared to the two-class method. Therefore, the treasury stock method was used. For the three and nine months ended January 31, 2025, we recognized a net loss, and as a result, excluded the anti-dilutive effect of stock-based awards from the computation of diluted earnings per share.
The following table sets forth the computation of basic and diluted earnings per share under the two-class method.
 Three Months Ended January 31,Nine Months Ended January 31,
 2025202420252024
Net income (loss)$(662.3)$120.4 $(501.8)$498.9 
Less: Net income (loss) allocated to participating securities— — — 0.2 
Net income (loss) allocated to common stockholders$(662.3)$120.4 $(501.8)$498.7 
Weighted-average common shares outstanding106.4 105.9 106.4 103.5 
Add: Dilutive effect of stock options— — — — 
Weighted-average common shares outstanding – assuming dilution106.4 105.9 106.4 103.5 
Net income (loss) per common share$(6.22)$1.14 $(4.72)$4.82 
Net income (loss) per common share – assuming dilution$(6.22)$1.14 $(4.72)$4.82 
The following table sets forth the computation of diluted earnings per share under the treasury stock method.
Three Months Ended January 31,Nine Months Ended January 31,
2025202420252024
Net income (loss)$(662.3)$120.4 $(501.8)$498.9 
Weighted-average common shares outstanding – assuming dilution:
Weighted-average common shares outstanding106.4 105.9 106.4 103.5 
Add: Dilutive effect of stock options— — — — 
Add: Dilutive effect of restricted shares, restricted stock units, and performance units— 0.2 — 0.3 
Weighted-average common shares outstanding – assuming dilution106.4 106.1 106.4 103.8 
Net income (loss) per common share – assuming dilution$(6.22)$1.13 $(4.72)$4.81 
v3.25.0.1
Goodwill and Other Intangible Assets
 9 Months Ended
Jan. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets Disclosure
Note 8: Goodwill and Other Intangible Assets

The following table summarizes the changes in our goodwill.
U.S. Retail CoffeeU.S. Retail Frozen Handheld and SpreadsU.S. Retail Pet FoodsSweet Baked SnacksInternational and Away From HomeTotal
Balance at April 30, 2024$2,090.9 $1,139.9 $1,580.2 $2,447.2 $391.7 $7,649.9 
Impairment charges (A)
— — — (794.3)— (794.3)
Divestiture— — — (277.4)— (277.4)
Other (B)(C)
— — — (0.4)(8.1)(8.5)
Balance at January 31, 2025$2,090.9 $1,139.9 $1,580.2 $1,375.1 $383.6 $6,569.7 
(A)We have recognized accumulated goodwill impairment charges of $1,037.2 as of January 31, 2025.
(B)The amount classified as other in the Sweet Baked Snacks segment represents purchase accounting adjustments for the acquisition of Hostess Brands.
(C)The amount classified as other in the International and Away From Home segment represents foreign currency translation adjustments.
The following table summarizes our other intangible assets and related accumulated amortization and impairment charges including foreign currency exchange adjustments.
January 31, 2025April 30, 2024
Acquisition CostAccumulated Amortization/Impairment Charges/Foreign Currency ExchangeNetAcquisition CostAccumulated Amortization/Impairment Charges/Foreign Currency ExchangeNet
Finite-lived intangible assets subject to
   amortization:
Customer and contractual relationships$4,596.5 $2,048.3 $2,548.2 $4,766.7 $1,894.9 $2,871.8 
Patents and technology163.0 161.0 2.0 163.0 160.8 2.2 
Trademarks136.4 114.8 21.6 143.1 110.8 32.3 
Total intangible assets subject to amortization$4,895.9 $2,324.1 $2,571.8 $5,072.8 $2,166.5 $2,906.3 
Indefinite-lived intangible assets not subject to
   amortization:
Trademarks$4,372.0 $432.7 $3,939.3 $4,572.7 $223.6 $4,349.1 
Total other intangible assets$9,267.9 $2,756.8 $6,511.1 $9,645.5 $2,390.1 $7,255.4 
We review goodwill and other indefinite-lived intangible assets for impairment at least annually on February 1, and more often if indicators of impairment exist.
During the second quarter of 2025, the disposal group for the Voortman business was classified as held for sale, and as a result, a portion of the goodwill within the Sweet Baked Snacks reporting unit was allocated to the disposal group based on a preliminary relative fair value analysis. There were no indicators of impairment for the remaining goodwill of the Sweet Baked Snacks reporting unit as of October 31, 2024.
During the third quarter of 2025, we completed our long-range planning process, following the integration of the Hostess Brands business and operations, resulting in a decline in forecasted net sales and segment profit for the Sweet Baked Snacks segment. The declines in forecast are in line with the underperformance during the current fiscal year for both net sales and segment profit, primarily driven by increased inflationary pressures and diminished consumer discretionary income, which has led to slower than anticipated recovery in the sweet baked goods category. In addition, we have not met expectations from a distribution, merchandising, and competitive standpoint, which has resulted in lost market share.

As a result of the decline in both actual and forecasted net sales, as compared to the long-term projections utilized in the purchase price allocation, in conjunction with the narrow differences between estimated fair value and carrying value as of April 30, 2024, we performed an interim impairment analysis on the goodwill of the Sweet Baked Snacks reporting unit and the Hostess brand indefinite-lived trademark. Furthermore, on December 2, 2024, we divested the Voortman business, and as a result, we disposed $251.1 of goodwill within the Sweet Baked Snacks reporting unit. The amount of goodwill allocated to the disposal group was determined based on a relative fair value analysis, utilizing the updated long-range plan. The interim impairment analysis was completed following the disposal of goodwill allocated to the Voortman business. We recognized total pre-tax impairment charges of $1.0 billion during the third quarter of 2025, of which $794.3 and $208.2 related to the goodwill of the Sweet Baked Snacks reporting unit and the Hostess brand indefinite-lived trademark, respectively, to the extent the carrying values exceeded the estimated fair values. These charges were included as noncash charges in our Condensed Statement of Consolidated Income and Condensed Statement of Consolidated Cash Flows.

The goodwill and indefinite-lived trademark within the Sweet Baked Snacks segment remain susceptible to future impairment charges, as the carrying values approximate estimated fair values due to the impairment charges recognized during the third quarter of 2025 and the recent acquisition of Hostess Brands. Any significant adverse change in our near or long-term projections or macroeconomic conditions would result in future impairment charges for the Sweet Baked Snacks segment.
There were no other indicators of impairment, and as a result, we do not believe that any of our remaining reporting units or material indefinite-lived intangible assets are more likely than not impaired as of January 31, 2025.
v3.25.0.1
Debt and Financing Arrangements
 9 Months Ended
Jan. 31, 2025
Debt Disclosure [Abstract]  
Debt and Financing Arrangements
The following table summarizes the components of our long-term debt.
 January 31, 2025April 30, 2024
 Principal
Outstanding
Carrying
Amount (A)
Principal
Outstanding
Carrying
Amount (A)
3.50% Senior Notes due March 15, 2025
$1,000.0 $999.9 $1,000.0 $999.3 
3.38% Senior Notes due December 15, 2027
500.0 498.8 500.0 498.4 
5.90% Senior Notes due November 15, 2028
750.0 745.4 750.0 744.5 
2.38% Senior Notes due March 15, 2030
500.0 497.5 500.0 497.2 
2.13% Senior Notes due March 15, 2032
364.5 361.2 500.0 495.2 
6.20% Senior Notes due November 15, 2033
1,000.0 992.2 1,000.0 991.5 
4.25% Senior Notes due March 15, 2035
650.0 645.8 650.0 645.5 
2.75% Senior Notes due September 15, 2041
177.5 176.1 300.0 297.4 
6.50% Senior Notes due November 15, 2043
750.0 737.0 750.0 736.5 
4.38% Senior Notes due March 15, 2045
600.0 589.1 600.0 588.7 
3.55% Senior Notes due March 15, 2050
161.2 159.3 300.0 296.2 
6.50% Senior Notes due November 15, 2053
1,000.0 983.1 1,000.0 982.6 
Total long-term debt$7,453.2 $7,385.4 $7,850.0 $7,773.0 
Current portion of long-term debt1,000.0 999.9 1,000.0 999.3 
Total long-term debt, less current portion$6,453.2 $6,385.5 $6,850.0 $6,773.7 
(A) Represents the carrying amount included in the Condensed Consolidated Balance Sheets, which includes the impact of capitalized debt issuance costs, offering discounts, and terminated interest rate contracts.
In December 2024, we commenced cash tender offers to purchase up to $300.0 aggregate purchase price, not including accrued and unpaid interest, of certain outstanding Senior Notes. As a result, an aggregate principle amount of $122.5 of our 2.750% Senior Notes due 2041 and $138.8 of our 3.550% Senior Notes due 2050 were tendered and accepted, and $194.1 of our 2.125% Senior Notes due 2032 were tendered, of which $135.5 was accepted. We recorded a net gain on the extinguishment of debt of $30.3 during the three and nine months ended January 31, 2025, included within other debt gains (charges) – net on the Condensed Statement of Consolidated Income. Components of the net gain include debt carrying value write-off of $335.9 (inclusive of terminated interest rate contract, debt issuance costs, and discounts), net of the reacquisition price of $300.0, debt tender fees of $1.1, and a loss on the associated reverse treasury locks of $4.5. For additional information, see Note 11: Derivative Financial Instruments.
In October 2023, we completed an offering of $3.5 billion in Senior Notes due November 15, 2028, November 15, 2033, November 15, 2043, and November 15, 2053. The Senior Notes included $31.8 of capitalized debt issuance costs and $15.0 of offering discounts to be amortized to interest expense – net in the Condensed Statements of Consolidated Income over the time period for which the debt is outstanding. The net proceeds from the offering were used to partially finance the acquisition of Hostess Brands and pay off the debt assumed as part of the acquisition.
In September 2023, we entered into a Term Loan with a group of banks for an unsecured $800.0 term facility. In November 2023, the full amount was drawn on the Term Loan to partially finance the acquisition of Hostess Brands and to pay off the debt assumed as part of the acquisition, as discussed in Note 3: Acquisition. As of April 30, 2024, the $800.0 Term Loan was prepaid in full.
In September 2023, we entered into a commitment letter for a $5.2 billion Bridge Loan that provided committed financing for the acquisition of Hostess Brands, as disclosed in Note 3: Acquisition. No balances were drawn against this facility, as the commitment letter was terminated after completion of the Senior Notes offering and drawing on the Term Loan. Included in other debt gains (charges) – net on the Condensed Statement of Consolidated Income at January 31, 2024 was $19.5 related to financing fees associated with the Bridge Loan.
We have available a $2.0 billion unsecured revolving credit facility with a group of 11 banks that matures in August 2026. Borrowings under the revolving credit facility bear interest on the prevailing U.S. Prime Rate, Secured Overnight Financing Rate (“SOFR”), Euro Interbank Offered Rate, or Canadian Overnight Repo Rate Average, based on our election. Interest is payable either on a quarterly basis or at the end of the borrowing term. We did not have a balance outstanding under the revolving credit facility at January 31, 2025, or April 30, 2024.
We participate in a commercial paper program under which we can issue short-term, unsecured commercial paper not to exceed $2.0 billion at any time. The commercial paper program is backed by our revolving credit facility and reduces what we can borrow under the revolving credit facility by the amount of commercial paper outstanding. Commercial paper is used as a continuing source of short-term financing for general corporate purposes. As of January 31, 2025, and April 30, 2024, we had $462.0 and $591.0 of short-term borrowings outstanding, respectively, which were issued under our commercial paper program at weighted-average interest rates of 4.55 and 5.48 percent, respectively.

Interest paid totaled $126.9 and $20.6 for the three months ended January 31, 2025 and 2024, respectively, and $341.8 and $94.2 for the nine months ended January 31, 2025 and 2024, respectively. This differs from interest expense due to the timing of interest payments, capitalized interest, the effect of interest rate contracts, amortization of debt issuance costs and discounts, and the payment of other debt fees.
Our debt instruments contain covenant restrictions, including an interest coverage ratio. As of January 31, 2025, we are in compliance with all covenants.
v3.25.0.1
Pensions and Other Postretirement Benefits
 9 Months Ended
Jan. 31, 2025
Retirement Benefits [Abstract]  
Pensions and Other Postretirement Benefits
The following table summarizes our net periodic benefit cost for defined benefit pension and other postretirement benefit plans.
Three Months Ended January 31,
Defined Benefit Pension PlansOther Postretirement Benefits
2025202420252024
Service cost$0.1 $0.2 $0.2 $0.2 
Interest cost4.5 4.5 0.7 0.7 
Expected return on plan assets(3.1)(4.0)— — 
Amortization of net actuarial loss (gain)1.1 1.0 (0.5)(0.4)
Amortization of prior service cost (credit)— — (0.2)(0.1)
Net periodic benefit cost$2.6 $1.7 $0.2 $0.4 
Nine Months Ended January 31,
 Defined Benefit Pension PlansOther Postretirement Benefits
 2025202420252024
Service cost$0.5 $0.7 $0.5 $0.6 
Interest cost13.3 13.8 2.0 2.0 
Expected return on plan assets(9.3)(12.2)— — 
Amortization of net actuarial loss (gain)3.3 2.7 (1.5)(1.2)
Amortization of prior service cost (credit)0.1 0.1 (0.5)(0.4)
Settlement loss (gain)— 3.2 — — 
Net periodic benefit cost$7.9 $8.3 $0.5 $1.0 
In 2021, we transferred obligations related to our Canadian defined benefit pension plan to an insurance company through the purchase of an irrevocable group annuity contract (the “Canadian Buy-Out Contract”). The group annuity contract was purchased using assets from the pension trust. During the first quarter of 2024, we received corporate approval to proceed with distribution of the surplus that remains within the Canadian defined benefit pension plan. As a result, we recognized a noncash pre-tax settlement charge of $3.2 related to the acceleration of prior service cost for the portion of the plan surplus to be allocated to plan members, which is subject to regulatory approval before a payout can be made. The settlement charge was included within other income (expense) – net in the Condensed Statement of Consolidated Income. We did not recognize any charges related to the Canadian Buy-Out Contract during the three and nine months ended January 31, 2025.

During the first nine months of 2025, we made contributions of $1.0 to our U.S. qualified defined benefit pension plans. Additionally, we made direct benefit payments of $2.7 and $2.8 for the nine months ended January 31, 2025 and 2024, respectively.
v3.25.0.1
Derivative Financial Instruments
 9 Months Ended
Jan. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Financial Instruments
We are exposed to market risks, such as changes in commodity prices, foreign currency exchange rates, and interest rates. To manage the volatility related to these exposures, we enter into various derivative transactions. We have policies in place that define acceptable instrument types we may enter into and establish controls to limit our market risk exposure. By policy, we do not enter into derivative transactions for speculative purposes.
Commodity Derivatives: We enter into commodity derivatives to manage the price volatility and reduce the variability of future cash flows related to anticipated inventory purchases of key raw materials, notably green coffee, wheat, soybean meal, corn, and edible oils. We also enter into commodity derivatives to manage price risk for energy input costs, including diesel fuel and natural gas. Our derivative instruments generally have maturities of less than one year.
We do not qualify commodity derivatives for hedge accounting treatment, and as a result, the derivative gains and losses are immediately recognized in earnings. Although we do not perform the assessments required to achieve hedge accounting for derivative positions, we believe all of our commodity derivatives are economic hedges of our risk exposure.
The commodities hedged have a high inverse correlation to price changes of the derivative instrument. Thus, we would expect that over time any gain or loss in the estimated fair value of its derivatives would generally be offset by an increase or decrease in the estimated fair value of the underlying exposures.
Foreign Currency Exchange Derivatives: We utilize foreign currency derivatives to manage the effect of foreign currency exchange fluctuations on future cash payments primarily related to purchases of certain raw materials and finished goods. The contracts generally have maturities of less than one year. We do not qualify instruments used to manage foreign currency exchange exposures for hedge accounting treatment.
Interest Rate Derivatives: From time to time, we utilize derivative instruments to manage interest rate risk associated with anticipated debt transactions, as well as to manage changes in the fair value of our long-term debt. At the inception of an interest rate contract, the instrument is evaluated and documented for qualifying hedge accounting treatment. If the contract is designated as a cash flow hedge, the mark-to-market gains or losses on the contract are deferred and included as a component of accumulated other comprehensive income (loss) and generally reclassified to interest expense in the period during which the hedged transaction affects earnings. If the contract is designated as a fair value hedge, the contract is recognized at fair value on the balance sheet and changes in the fair value are recognized in interest expense. Generally, changes in the fair value of the contract are equal to changes in the fair value of the underlying debt and have no net impact on earnings.
In November 2024, we entered into reverse treasury locks to manage our exposure to interest rate fluctuations related to the tender offers. In December 2024, concurrent with the pricing of the tender offers, we settled the reverse treasury locks and realized a net loss of $4.5 during the three months ended January 31, 2025, recognized in earnings within other debt gains (charges) – net on the Condensed Statement of Consolidated Income, netting with the gain on extinguishment associated with the tender offers. For additional information, see Note 9: Debt and Financing Arrangements.
Equity Forward Derivative: During the first quarter of 2024, we began entering into equity forward derivative transactions under an agreement with an unrelated third-party to facilitate the forward sale of the Post common stock. We did not qualify the forward sale derivative contract for hedge accounting treatment, and as a result, derivative gains and losses associated with the economic hedge were immediately recognized in earnings within other income (expense) – net in the Condensed Statement of Consolidated Income, netting with the change in fair value of the underlying shares. All 5.4 million shares of Post common stock were hedged and later settled on November 15, 2023, for $466.3, resulting in a pre-tax gain of $5.4 during the year ended April 30, 2024, inclusive of a realized pre-tax loss of $28.2 and gain of $5.4 recognized during the three and nine months ended January 31, 2024, respectively. For additional information, see Note 4: Divestitures.
The following table presents the gross notional value of outstanding derivative contracts.
January 31, 2025April 30, 2024
Commodity contracts$1,534.4 $787.7 
Foreign currency exchange contracts98.0 98.6 
The following tables set forth the gross fair value amounts of derivative instruments recognized in the Condensed Consolidated Balance Sheets.
 January 31, 2025
 Other
Current
Assets		Other
Current
Liabilities		Other
Noncurrent
Assets		Other
Noncurrent
Liabilities
Derivatives not designated as hedging instruments:
Commodity contracts$57.0 $36.6 $— $— 
Foreign currency exchange contracts4.4 — 0.2 — 
Total derivative instruments$61.4 $36.6 $0.2 $— 
 April 30, 2024
 Other
Current
Assets		Other
Current
Liabilities		Other
Noncurrent
Assets		Other
Noncurrent
Liabilities
Derivatives not designated as hedging instruments:
Commodity contracts$35.8 $9.3 $— $0.1 
Foreign currency exchange contracts1.9 0.1 — — 
Total derivative instruments$37.7 $9.4 $— $0.1 
We have elected to not offset fair value amounts recognized for our exchange-traded derivative instruments and our cash margin accounts executed with the same counterparty that are generally subject to enforceable netting agreements. We are required to maintain cash margin accounts in connection with funding the settlement of our open positions. Our cash margin accounts represented collateral pledged of $8.5 and collateral received of $1.9 at January 31, 2025, and April 30, 2024, respectively, and are included in other current assets in the Condensed Consolidated Balance Sheets. The change in the cash margin accounts is included in other – net, investing activities in the Condensed Statements of Consolidated Cash Flows. In the event of default and immediate net settlement of all of our open positions with individual counterparties, all of our derivative liabilities would be fully offset by either our derivative asset positions or margin accounts based on the net asset or liability position with our individual counterparties. Cash flows associated with the settlement of derivative instruments are classified in the same line item as the cash flows of the related hedged item, which is within operating activities in the Condensed Statements of Consolidated Cash Flows.
Economic Hedges
The following table presents the net gains and losses recognized in cost of products sold in the Condensed Statements of Consolidated Income on derivatives not designated as hedging instruments.
 Three Months Ended January 31,Nine Months Ended January 31,
 2025202420252024
Derivative gains (losses) on commodity contracts$60.1 $(6.1)$50.7 $(3.3)
Derivative gains (losses) on foreign currency exchange contracts3.8 (3.3)5.5 (0.7)
Total derivative gains (losses) recognized in cost of products sold$63.9 $(9.4)$56.2 $(4.0)
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. The following table presents the net change in cumulative unallocated derivative gains and losses.
 Three Months Ended January 31,Nine Months Ended January 31,
2025202420252024
Net derivative gains (losses) recognized and classified as unallocated$63.9 $(9.4)$56.2 $(4.0)
Less: Net derivative gains (losses) reclassified to segment operating profit3.9 (4.2)14.5 17.1 
Change in net cumulative unallocated derivative gains and losses$60.0 $(5.2)$41.7 $(21.1)
The net cumulative unallocated derivative gains were $64.3 and $22.6 at January 31, 2025, and April 30, 2024, respectively.
Cash Flow Hedges
In November 2023, we terminated interest rate contracts for $42.5 concurrent with the payment of the debt assumed with the acquisition of Hostess Brands. The interest rate contracts were designated as cash flow hedges and were used to manage exposure to changes in cash flows associated with variable rate debt.
In 2020, we terminated all outstanding interest rate contracts concurrent with the pricing of the Senior Notes due March 15, 2030 and March 15, 2050. The contracts were designated as cash flow hedges and were used to manage our exposure to interest rate volatility associated with the anticipated debt financing. The termination resulted in a pre-tax loss of $239.8, which was deferred and included as a component of accumulated other comprehensive income (loss) and is being amortized as interest expense over the life of the debt.
The following table presents information on the pre-tax gains and losses recognized on all contracts previously designated as cash flow hedges.
Three Months Ended January 31,Nine Months Ended January 31,
2025202420252024
Gains (losses) recognized in other comprehensive income (loss)$— $— $— $— 
Less: Gains (losses) reclassified from accumulated other comprehensive income (loss) to interest expense – net (A)
(3.0)(3.3)(9.8)(10.1)
Less: Gains (losses) reclassified from accumulated other comprehensive income (loss) to other debt gains (charges) – net (B)
(56.9)— (56.9)— 
Change in accumulated other comprehensive income (loss)$59.9 $3.3 $66.7 $10.1 
(A)Interest expense – net, as presented in the Condensed Statements of Consolidated Income was $95.4 and $99.8 for the three months ended January 31, 2025 and 2024, respectively, and $294.5 and $167.0 for the nine months ended January 31, 2025 and 2024, respectively. The reclassification includes terminated contracts which were designated as cash flow hedges.
(B)Other debt gains (charges) – net, as presented in the Condensed Statement of Consolidated Income was $30.3 for the three and nine months ended January 31, 2025. The reclassification is related to the debt extinguishment due to the tender offers, as discussed in Note 9: Debt and Financing Arrangements.
Included as a component of accumulated other comprehensive income (loss) at January 31, 2025, and April 30, 2024, were deferred net pre-tax losses of $120.4 and $187.1, respectively, related to the terminated interest rate contracts. The related net tax benefit recognized in accumulated other comprehensive income (loss) at January 31, 2025, and April 30, 2024, was $28.3 and $44.0, respectively. Approximately $12.5 of the net pre-tax loss will be recognized over the next 12 months related to the terminated interest rate contracts.
v3.25.0.1
Other Financial Instruments and Fair Value Measurements
 9 Months Ended
Jan. 31, 2025
Fair Value Disclosures [Abstract]  
Other Financial Instruments and Fair Value Measurements
Financial instruments, other than derivatives, that potentially subject us to significant concentrations of credit risk consist principally of cash investments, short-term borrowings, and trade receivables. The carrying value of these financial instruments approximates fair value. Our remaining financial instruments, with the exception of long-term debt, are recognized at estimated fair value in the Condensed Consolidated Balance Sheets.
The following table provides information on the carrying amounts and fair values of our financial instruments.
 January 31, 2025April 30, 2024
 Carrying
Amount		Fair ValueCarrying
Amount		Fair Value
Marketable securities and other investments$21.2 $21.2 $22.1 $22.1 
Derivative financial instruments – net25.0 25.0 28.2 28.2 
Total long-term debt(7,385.4)(7,514.1)(7,773.0)(7,652.9)
Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Valuation techniques are based on observable and unobservable inputs. Observable inputs reflect readily obtainable data from independent sources, while unobservable inputs reflect our market assumptions.
The following tables summarize the fair values and the levels within the fair value hierarchy in which the fair value measurements fall for our financial instruments.
Quoted Prices in
Active Markets for
Identical Assets
(Level 1)		Significant
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)		Fair Value at January 31, 2025
Marketable securities and other investments: (A)
Equity mutual funds$4.2 $— $— $4.2 
Municipal obligations— 15.9 — 15.9 
Money market funds1.1 — — 1.1 
Derivative financial instruments: (B)
Commodity contracts – net20.4 — — 20.4 
Foreign currency exchange contracts – net0.1 4.5 — 4.6 
Total long-term debt (C)
(7,514.1)— — (7,514.1)
Total financial instruments measured at fair value$(7,488.3)$20.4 $— $(7,467.9)
 Quoted Prices in
Active Markets for
Identical Assets
(Level 1)		Significant
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)		Fair Value at
April 30, 2024
Marketable securities and other investments: (A)
Equity mutual funds$4.5 $— $— $4.5 
Municipal obligations— 17.2 — 17.2 
Money market funds0.4 — — 0.4 
Derivative financial instruments: (B)
Commodity contracts – net26.7 (0.3)— 26.4 
Foreign currency exchange contracts – net0.5 1.3 — 1.8 
Total long-term debt (C)
(7,652.9)— — (7,652.9)
Total financial instruments measured at fair value$(7,620.8)$18.2 $— $(7,602.6)
(A)Marketable securities and other investments consist of funds maintained for the payment of benefits associated with nonqualified retirement plans. The funds include equity securities listed in active markets, municipal obligations valued by a third-party using valuation techniques that utilize inputs that are derived principally from or corroborated by observable market data, and money market funds with maturities of three months or less. Based on the short-term nature of these money market funds, carrying value approximates fair value. As of January 31, 2025, our municipal obligations are scheduled to mature as follows: $0.2 in 2025, $0.8 in 2026, $3.9 in 2027, $0.4 in 2028, $3.3 in 2029, and the remaining $7.3 in 2030 and beyond.
(B)Level 1 commodity and foreign currency exchange derivatives are valued using quoted market prices for identical instruments in active markets. Level 2 commodity and foreign currency exchange derivatives are valued using quoted prices for similar assets or liabilities in active markets. For additional information, see Note 11: Derivative Financial Instruments.
(C)Long-term debt is composed of public Senior Notes, which are traded in an active secondary market and valued using quoted prices. For additional information, see Note 9: Debt and Financing Arrangements.
During the third quarter of 2025, we recognized nonrecurring fair value adjustments of $1.0 billion, of which $794.3 and $208.2 related to the goodwill of the Sweet Baked Snacks reporting unit and the Hostess brand indefinite-lived trademark, respectively. These adjustments were included as noncash charges in our Condensed Statement of Consolidated Income. We utilized Level 3 inputs based on management’s best estimates and assumptions to estimate the fair value of the reporting unit and the indefinite-lived trademark. For additional information, see Note 8: Goodwill and Other Intangible Assets.
As of January 31, 2025, the disposal group of certain Sweet Baked Snacks value brands met the criteria to be classified as held for sale, and as a result, a valuation allowance of $42.6 was established to reflect the fair value of the disposal group less costs to sell, which was based on the expected proceeds and the estimated carrying value of the net assets to be disposed. The estimated pre-tax loss on the disposal group was included within loss (gain) on divestitures – net in the Condensed Statement of Consolidated Income. We utilized Level 3 inputs based on management’s best estimates and assumptions to estimate the fair value of the disposal group. Furthermore, the valuation allowance for the disposal group included the impact of an allocation of $26.3 of goodwill from the Sweet Baked Snacks segment, which was determined based on a relative fair value analysis. For additional information, see Note 4: Divestitures.
During the second quarter of 2025, the disposal group for the Voortman business was classified as held for sale, and as a result, an estimated pre-tax loss of $260.8 was recognized within loss (gain) on divestitures – net in the Condensed Statement of Consolidated Income. Upon close of the transaction during the third quarter of 2025, the pre-tax loss was adjusted to $268.4, reflecting the fair value of the disposal group as of the transaction date. We utilized Level 3 inputs based on management’s best estimates and assumptions to estimate the fair value of the disposal group. Furthermore, the pre-tax loss for the divested Voortman business included the impact of an allocation of $251.1 of goodwill from the Sweet Baked Snacks segment, which was determined based on a relative fair value analysis. For additional information, see Note 4: Divestitures and Note 8: Goodwill and Other Intangible Assets
v3.25.0.1
Leases
 9 Months Ended
Jan. 31, 2025
Leases [Abstract]  
Leases
We lease certain warehouses, manufacturing facilities, office space, equipment, and vehicles, primarily through operating lease agreements. We have elected to not recognize leases with a term of 12 months or less in the Condensed Consolidated Balance Sheets. Instead, we recognize the related lease expense on a straight-line basis over the lease term.
Although the majority of our right-of-use asset and lease liability balances consist of leases with renewal options, these optional periods do not typically impact the lease term as we are not reasonably certain to exercise them. Certain leases also include termination provisions or options to purchase the leased property. Since we are not reasonably certain to exercise these types of options, minimum lease payments do not include any amounts related to these termination or purchase options. Our lease agreements generally do not contain residual value guarantees or restrictive covenants that are material.
We determine if an agreement is or contains a lease at inception by evaluating whether an identified asset exists that we control over the term of the arrangement. A lease commences when the lessor makes the identified asset available for our use. We generally account for lease and non-lease components as a single lease component. Minimum lease payments do not include variable lease payments other than those that depend on an index or rate.
Because the interest rate implicit in the lease cannot be readily determined for the majority of our leases, we utilize our incremental borrowing rate to present value lease payments using information available at the lease commencement date. We consider our credit rating and the current economic environment in determining this collateralized rate.
The following table sets forth the right-of-use assets and lease liabilities recognized in the Condensed Consolidated Balance Sheets.
January 31, 2025April 30, 2024
Operating lease right-of-use assets$121.4 $174.6 
Operating lease liabilities:
Current operating lease liabilities$38.0 $40.5 
Noncurrent operating lease liabilities
89.8 143.5 
Total operating lease liabilities$127.8 $184.0 
Finance lease right-of-use assets:
Machinery and equipment
$22.8 $18.7 
Accumulated depreciation
(12.1)(8.0)
Total property, plant, and equipment$10.7 $10.7 
Finance lease liabilities:
Other current liabilities
$3.1 $2.8 
Other noncurrent liabilities
8.1 8.3 
Total finance lease liabilities$11.2 $11.1 
The following table summarizes the components of lease expense.
Three Months Ended January 31,Nine Months Ended January 31,
2025202420252024
Operating lease cost$11.0 $13.1 $35.5 $37.0 
Finance lease cost:
Amortization of right-of-use assets 0.9 0.7 2.5 2.7 
Interest on lease liabilities
0.2 0.1 0.5 0.4 
Variable lease cost3.9 6.4 16.2 17.6 
Short-term lease cost9.4 11.8 33.3 32.4 
Total lease cost (A)
$25.4 $32.1 $88.0 $90.1 
(A)Total lease cost does not include sublease income which is immaterial for all years presented.
The following table sets forth cash flow and noncash information related to leases.
Nine Months Ended January 31,
20252024
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases
$36.5 $36.9 
Operating cash flows from finance leases 0.4 0.4 
Financing cash flows from finance leases
2.6 2.6 
Right-of-use assets obtained in exchange for new lease liabilities:
Operating leases8.7 91.9 
Finance leases
2.6 8.0 
The following table summarizes the maturity of our lease liabilities by fiscal year.
January 31, 2025
Operating LeasesFinance Leases
2025 (remainder of the year)$10.6 $0.9 
202641.2 3.4 
202721.4 3.1 
202812.3 2.9 
202910.9 1.5 
2030 and beyond 52.9 0.5 
Total undiscounted minimum lease payments $149.3 $12.3 
Less: Imputed interest21.5 1.1 
Lease liabilities $127.8 $11.2 
The following table sets forth the weighted average remaining lease term and discount rate.
January 31, 2025April 30, 2024
Weighted average remaining lease term (in years):
Operating leases
6.16.2
Finance leases 3.84.3
Weighted average discount rate:
Operating leases4.6 %4.3 %
Finance leases
5.0 %4.8 %
v3.25.0.1
Income Taxes
 9 Months Ended
Jan. 31, 2025
Income Tax Disclosure [Abstract]  
Income Taxes
Income taxes decreased $75.3, or 100 percent, during the three months ended January 31, 2025, as compared to the prior year. The effective income tax rate for the third quarter of 2025 varied from the U.S. statutory income tax rate of 21.0 percent primarily due to state income taxes and an unfavorable permanent impact associated with the goodwill impairment charge for the Sweet Baked Snacks reporting unit, partially offset by the reversal of a deferred tax liability upon completion of the sale of the Voortman Cookies Limited entity, and a favorable noncash deferred tax benefit associated with the integration of Hostess Brands into our Company. The effective income tax rate for the third quarter of 2024 varied from the U.S. statutory income tax rate of 21.0 percent primarily due to state income taxes and unfavorable tax impacts associated with the acquisition of Hostess Brands.

Income taxes decreased $32.3, or 18 percent, during the nine months ended January 31, 2025, as compared to the prior year. The effective income tax rate for the first nine months of 2025 varied from the U.S. statutory income tax rate of 21.0 percent primarily due to state income taxes and unfavorable permanent impacts associated with the goodwill impairment charge for the Sweet Baked Snacks reporting unit and the sale of the Voortman business, partially offset by the favorable noncash deferred tax benefit associated with the integration of Hostess Brands into our Company. The effective income tax rate for the first nine months of 2024 varied from the U.S. statutory income tax rate of 21.0 percent primarily due to state income taxes and unfavorable tax impacts associated with the acquisition of Hostess Brands, partially offset by a favorable tax impact of the sale of the Sahale Snacks business.
Within the next 12 months, it is reasonably possible that we could decrease our unrecognized tax benefits by an estimated $0.8, primarily as a result of the expiration of statute of limitation periods.
v3.25.0.1
Accumulated Other Comprehensive Income (Loss)
 9 Months Ended
Jan. 31, 2025
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]  
Accumulated Other Comprehensive Income (Loss)
The components of accumulated other comprehensive income (loss), including the reclassification adjustments for items that are reclassified from accumulated other comprehensive income (loss) to net income (loss), are shown below.
Foreign
Currency
Translation
Adjustment
Net Gains (Losses)
on Cash Flow
Hedging
Derivatives (A)
Pension and
Other
Postretirement
Liabilities (B)
Unrealized 
Gain (Loss)
on Available-
for-Sale
Securities		Accumulated
Other
Comprehensive
Income (Loss)
Balance at May 1, 2024$(39.2)$(143.1)$(53.4)$1.1 $(234.6)
Reclassification adjustments— 66.7 1.4 — 68.1 
Current period credit (charge)(14.3)— — (0.5)(14.8)
Income tax benefit (expense)— (15.7)(0.4)0.1 (16.0)
Balance at January 31, 2025$(53.5)$(92.1)$(52.4)$0.7 $(197.3)
 Foreign
Currency
Translation
Adjustment
Net Gains (Losses)
on Cash Flow
Hedging
Derivatives (A)
Pension and
Other
Postretirement
Liabilities (B)
Unrealized
Gain (Loss)
on Available-
for-Sale
Securities		Accumulated
Other
Comprehensive
Income (Loss)
Balance at May 1, 2023$(34.3)$(153.6)$(52.7)$1.4 $(239.2)
Reclassification adjustments— 10.1 4.4 — 14.5 
Current period credit (charge)2.4 — (3.2)0.3 (0.5)
Income tax benefit (expense)— (1.9)(0.2)(0.1)(2.2)
Balance at January 31, 2024$(31.9)$(145.4)$(51.7)$1.6 $(227.4)
(A)The reclassification from accumulated other comprehensive income (loss) is primarily composed of deferred gains (losses) related to terminated interest rate contracts which were reclassified to interest expense – net. In addition, a portion of the reclassification in 2025 was reclassified to other debt gains (charges) – net resulting from the extinguishment of debt from the tender offers. For additional information, see Note 11: Derivative Financial Instruments and Note 9: Debt and Financing Arrangements.
(B)The reclassification from accumulated other comprehensive income (loss) to other income (expense) – net is composed of settlement charges and amortization of net losses and prior service costs. For additional information, see Note 10: Pensions and Other Postretirement Benefits.
v3.25.0.1
Contingencies
 9 Months Ended
Jan. 31, 2025
Contingency [Abstract]  
Contingencies
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, and 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 January 31, 2025. Based on the information known to date, with the exception of the matters discussed below, we do not believe the final outcome of these proceedings will have a material adverse effect on our financial position, results of operations, or cash flows.
Class Action Lawsuits: We are defendants in a series of putative class action lawsuits that were transferred to the U.S. District Court for the Western District of Missouri for coordinated pre-trial proceedings. The plaintiffs assert claims arising under various state laws for false advertising, consumer protection, deceptive and unfair trade practices, and similar statutes. Their claims are premised on allegations that we have misrepresented the number of servings that can be made from various canisters of Folgers coffee on the packaging for those products. The outcome and the financial impact of these cases, if any, cannot be predicted at this time. Accordingly, no loss contingency has been recorded for these matters as of January 31, 2025, as the likelihood of loss is not considered probable or reasonably estimable. However, if we are required to pay significant damages, our business and financial results could be adversely impacted, and sales of those products could suffer not only in these locations but elsewhere.
Product Recall: We are defendants in ongoing consumer litigation associated with a voluntary recall of select Jif peanut butter products initiated in May 2022. The outcome and financial impact of this litigation cannot be predicted at this time. Accordingly, no loss contingency has been recorded for these matters as of January 31, 2025, as the likelihood of loss is not considered probable or reasonably estimable.
Voortman Contingency: In December 2020, Hostess Brands asserted claims for indemnification against the sellers (the “Sellers”) under the terms of a Share Purchase Agreement (the “Purchase Agreement”) pursuant to which Hostess Brands acquired Voortman Cookies Limited (“Voortman”). The claims were for damages arising out of alleged breaches by the Sellers of certain representations, warranties, and covenants contained in the Purchase Agreement relating to periods prior to the closing of the acquisition. Hostess Brands also submitted claims relating to these alleged breaches under the representation and warranty insurance policy (“RWI”) that was purchased in connection with the acquisition. In the third quarter of calendar 2022, the RWI insurers paid Hostess Brands $42.5 CAD (the RWI coverage limit) (the “Proceeds”) related to these breaches. Per agreement with the RWI insurers, we will not be required to return the Proceeds under any circumstances.
On November 3, 2022, pursuant to the agreement with the RWI insurers, Voortman brought claims in the Ontario (Canada) Superior Court of Justice (the “Claim”), related to the breaches against certain of the Sellers. The Claim alleges the seller defendants made certain non-disclosures and misrepresentations to induce Hostess Brands to overpay for Voortman. We are seeking damages of $109.0 CAD representing the amount of the aggregate liability of the Sellers for indemnification under the Purchase Agreement, $5.0 CAD in punitive or aggravated damages, interest, proceedings fees, and any other relief the presiding court deems appropriate. A portion of any recovery will be shared with the RWI insurers. Although we believe that the Claim is meritorious, no assurance can be given as to whether we will recover all, or any part, of the amounts being pursued. We retained rights to the Claim upon the divestiture of the Voortman business in the third quarter of 2025
v3.25.0.1
Common Shares
 9 Months Ended
Jan. 31, 2025
Stockholders' Equity Note [Abstract]  
Common Shares
The following table sets forth common share information.
January 31, 2025April 30, 2024
Common shares authorized300.0 300.0 
Common shares outstanding106.4 106.2 
Treasury shares44.1 44.3 
Repurchase Program: During the nine months ended January 31, 2025, we did not repurchase any common shares under a repurchase plan authorized by the Board of Directors (the “Board”). As of January 31, 2025, approximately 1.1 million common shares remain available for repurchase pursuant to the Board’s authorizations.
On March 2, 2023, we entered into a share repurchase plan (the “10b5-1 Plan”) established in accordance with Rule 10b5-1 of the Exchange Act in connection with the remaining common shares authorized for repurchase by the Board, which was approximately 3.5 million common shares as of April 30, 2023. In accordance with the 10b5-1 Plan, our designated broker had
the authority to repurchase approximately 2.4 million common shares, which commenced upon the sale of certain pet food brands on April 28, 2023, and expired 45 calendar days after the closure of the transaction. During the first quarter of 2024, we repurchased approximately 2.4 million common shares for $362.8 under the 10b5-1 Plan. In accordance with The Inflation Reduction Act of 2022, H.R. 5376 (the “Inflation Reduction Act”), a one percent excise tax was applied to share repurchases after December 31, 2022. As a result, an excise tax of $3.6 was accrued on the repurchased shares during the first quarter of 2024 and included within additional capital in our Condensed Consolidated Balance Sheet. An accrued excise tax of $6.7 was paid during the nine months ended January 31, 2025, which was related to the shares repurchased under the 10b5-1 Plan during 2023 and 2024.
All other share repurchases during the nine months ended January 31, 2025 and 2024, consisted of shares repurchased from stock plan recipients in lieu of cash payments.
Shares Issued: On November 7, 2023, we acquired Hostess Brands, and as a result, we issued approximately 4.0 million common shares valued at $450.2 in exchange for the outstanding shares of Hostess Brands common stock to partially fund the acquisition. The shares issued were based on each outstanding share of Hostess Brands common stock receiving $30.00 per share in cash and 0.03002 shares of our common shares, which represented a value of $4.25 based on the closing stock price of our common shares on September 8, 2023, the last trading day preceding September 11, 2023, the date on which the execution of the Hostess Brands merger agreement was publicly announced. For additional information on the acquisition of Hostess Brands, see Note 3: Acquisition.
v3.25.0.1
Supplier Financing Program
 9 Months Ended
Jan. 31, 2025
Payables and Accruals [Abstract]  
Supplier Finance Program
As part of ongoing efforts to maximize working capital, we work with our suppliers to optimize our terms and conditions, which includes the extension of payment terms. Payment terms with our suppliers, which we deem to be commercially reasonable, range from 0 to 180 days. We have an agreement with a third-party administrator to provide an accounts payable tracking system and facilitate a supplier financing program which allows participating suppliers the ability to monitor and voluntarily elect to sell our payment obligations to a designated third-party financial institution. Participating suppliers can sell one or more of our payment obligations at their sole discretion, and our rights and obligations to our suppliers are not impacted. We have no economic interest in a supplier’s decision to enter into these agreements. Our rights and obligations to our suppliers, including amounts due and scheduled payment terms, are not impacted by our suppliers’ decisions to sell amounts under these arrangements. However, our right to offset balances due from suppliers against our payment obligations is restricted by the agreement for those payment obligations that have been sold by our suppliers. The payment of these obligations is included in cash provided by operating activities in the Condensed Statements of Consolidated Cash Flows. Included in accounts payable in the Condensed Consolidated Balance Sheets as of January 31, 2025, and April 30, 2024, were $315.1 and $384.9 of our outstanding payment obligations, respectively, that were elected and sold to a financial institution by participating suppliers. During the first nine months of 2025 and 2024, we paid $1,211.9 and $1,280.6, respectively, to a financial institution for payment obligations that were settled through the supplier financing program.
v3.25.0.1
Pay vs Performance Disclosure - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Jan. 31, 2025
Oct. 31, 2024
Jul. 31, 2024
Jan. 31, 2024
Oct. 31, 2023
Jul. 31, 2023
Jan. 31, 2025
Jan. 31, 2024
Pay vs Performance Disclosure                
Net income (loss) $ (662.3) $ (24.5) $ 185.0 $ 120.4 $ 194.9 $ 183.6 $ (501.8) $ 498.9
v3.25.0.1
Insider Trading Arrangements
 9 Months Ended
Jan. 31, 2025
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.25.0.1
Recently Issued Accounting Standards (Policies)
 9 Months Ended
Jan. 31, 2025
Accounting Changes and Error Corrections [Abstract]  
Recently Issued Accounting Standards
In November 2024, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. ASU 2024-03 will provide investors with more decision-useful information about an entity’s expenses by improving disclosures on income statement expenses. The amendments in this ASU will require public business entities to disclose disaggregated information about specific categories underlying certain income statement expense line items. It will be effective for our annual period beginning May 1, 2027, and interim periods beginning May 1, 2028, with the option to early adopt at any time prior to the effective dates on either a prospective or retrospective basis. We do not anticipate any impact to our financial statements upon adoption and are currently evaluating the impacts of the standard on our disclosures.
In March 2024, the U.S. Securities and Exchange Commission (the “SEC”) adopted the final rule under SEC Release Nos. 33-11275 and 34-99678, The Enhancement and Standardization of Climate-Related Disclosures for Investors; however, in April 2024, the SEC stayed implementation of the final rule pending the outcome of a judicial review, and in February 2025, the SEC requested that litigation be paused so that it can determine the appropriate next steps. If the rules become effective, they would require registrants to provide certain climate-related information in their registration statements and annual reports. The rules would require the disclosure of significant effects of severe weather events and other natural conditions, as well as amounts related to carbon offsets and renewable energy credits or certificates, in the audited financial statements in certain circumstances. Disclosure of the actual and potential material impacts of any identified climate-related risks on the registrant’s strategy, business model, and outlook would also be required, along with the process used to identify, assess, and manage these risks. In addition, the rules would require disclosure of material climate-related targets or goals, material Scope 1 and Scope 2 greenhouse gas emissions, and the methodology used to calculate those emissions. We do not anticipate any impact to our financial statements if the rules are adopted and continue to evaluate the impacts on our disclosures.
In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740) Improvements to Income Tax Disclosures. ASU 2023-09 will improve the transparency and decision usefulness of income tax disclosures to better assess how operations and related tax risks affect tax rates and future cash flows on an interim and annual basis. It will be effective for us on May 1, 2025, and can be adopted either on a prospective or retrospective basis. We do not anticipate any impact to our financial statements upon adoption and are currently evaluating the impacts of the standard on our disclosures.
In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280) Improvements to Reportable Segment Disclosures. ASU 2023-07 will improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses on an interim and annual basis. It will be effective for our annual period beginning May 1, 2024, and interim periods beginning May 1, 2025, with the option to early adopt at any time prior to the effective dates and will require adoption on a retrospective basis. We do not anticipate any impact to our financial statements upon adoption and are currently evaluating the impacts of the standard on our disclosures.
v3.25.0.1
Acquisition (Tables)
 9 Months Ended
Jan. 31, 2025
Business Combination and Asset Acquisition [Abstract]  
Fair values of the assets acquired and liabilities assumed
The following table summarizes the fair values of the assets acquired and liabilities assumed at the acquisition date.
Assets acquired:
Cash and cash equivalents$135.0 
Trade receivables – net181.1 
Inventories66.0 
Other current assets6.0 
Property, plant, and equipment – net534.5 
Operating lease right-of-use assets17.2 
Goodwill2,446.8 
Other intangible assets – net3,038.6 
Other noncurrent assets43.2 
Total assets acquired$6,468.4 
Liabilities assumed:
Accounts payable$67.3 
Other current liabilities249.0 
Deferred income taxes639.4 
Noncurrent operating lease liabilities14.5 
Other noncurrent liabilities 1.4 
Total liabilities assumed971.6 
Net assets acquired$5,496.8 
Finite-lived and indefinite-lived intangible assets acquired
The following table summarizes the purchase price allocated to the identifiable intangible assets acquired.
Intangible assets with finite lives:
Customer and contractual relationships (25-year useful life)
$1,238.5 
Non-competition agreements (varying useful lives)38.0 
Trademarks (5-year useful life)
9.9 
Intangible assets with indefinite lives:
Trademarks$1,752.2 
Total intangible assets$3,038.6 
Business acquisition pro forma information If the transaction had occurred on May 1, 2022, unaudited pro forma consolidated results for the three and nine months ended January 31, 2024, would have been as follows:
Three Months Ended January 31, 2024Nine Months Ended January 31, 2024
Net sales$2,253.2 $6,707.1 
Net income (loss)162.7 508.5 
Net income (loss) per common share – assuming dilution1.53 4.78 
v3.25.0.1
Divestitures (Tables)
 9 Months Ended
Jan. 31, 2025
Discontinued Operations and Disposal Groups [Abstract]  
Disclosure of Long-Lived Assets Held-for-Sale
The following table summarizes the net assets held for sale at January 31, 2025, inclusive of a valuation allowance, reflecting the fair value less costs to sell.
January 31, 2025
Sweet Baked Snacks value brands
Assets held for sale:
Inventories$4.6 
Property, plant, and equipment – net42.9 
Operating lease right-of-use assets0.9 
Goodwill26.3 
Other intangible assets – net5.0 
Valuation allowance(42.6)
Total assets held for sale$37.1 
Liabilities held for sale:
Other current liabilities$0.9 
Noncurrent operating lease liabilities0.3 
Total liabilities held for sale1.2 
Net assets held for sale$35.9 
Disposal Groups, Including Discontinued Operations
The following table summarizes the net assets and liabilities included in the disposal group associated with the Voortman business divestiture.
January 31, 2025
Voortman
Assets disposed:
Cash and cash equivalents$1.4 
Inventories7.7 
Other current assets0.7 
Property, plant, and equipment – net33.9 
Operating lease right-of-use assets8.2 
Goodwill251.1 
Other intangible assets – net363.0 
Total assets disposed$666.0 
Liabilities disposed:
Accrued expenses
$1.9 
Current operating lease obligations
1.3 
Deferred income taxes95.2 
Noncurrent operating lease liabilities7.4 
Other noncurrent liabilities0.9 
Total liabilities disposed106.7 
Net assets disposed$559.3 
v3.25.0.1
Special Project Costs (Tables)
 9 Months Ended
Jan. 31, 2025
Restructuring and Related Activities [Abstract]  
Schedule Of Integration Costs
The following table summarizes our integration costs incurred related to the acquisition of Hostess Brands.
Three Months Ended January 31, 2025Nine Months Ended January 31, 2025Total Costs Incurred to Date at January 31, 2025
Transaction costs$— $— $99.0 
Employee-related costs2.5 9.5 42.9 
Other transition and termination costs5.3 25.4 40.4 
Total integration costs$7.8 $34.9 $182.3 
v3.25.0.1
Reportable Segments (Tables)
 9 Months Ended
Jan. 31, 2025
Segment Reporting [Abstract]  
Income by segment
The following table reconciles segment profit to income before income taxes.
 Three Months Ended January 31,Nine Months Ended January 31,
 2025202420252024
Net sales:
U.S. Retail Coffee$740.6 $727.5 $2,068.0 $2,038.3 
U.S. Retail Frozen Handheld and Spreads445.2 436.8 1,427.2 1,365.1 
U.S. Retail Pet Foods423.0 465.2 1,268.1 1,370.2 
Sweet Baked Snacks278.6 300.3 927.8 300.3 
International and Away From Home298.6 299.4 891.2 899.1 
Total net sales$2,186.0 $2,229.2 $6,582.3 $5,973.0 
Segment profit:
U.S. Retail Coffee$208.6 $207.8 $583.9 $548.9 
U.S. Retail Frozen Handheld and Spreads99.2 104.1 334.3 338.3 
U.S. Retail Pet Foods116.8 109.5 353.5 288.0 
Sweet Baked Snacks54.8 68.0 199.8 68.0 
International and Away From Home61.6 50.4 178.2 147.0 
Total segment profit$541.0 $539.8 $1,649.7 $1,390.2 
Amortization(53.9)(55.7)(165.7)(135.1)
Goodwill impairment charge(794.3)— (794.3)— 
Other intangible assets impairment charge(208.2)— (208.2)— 
Gain (loss) on divestitures – net(50.2)(0.3)(311.0)(12.9)
Interest expense – net(95.4)(99.8)(294.5)(167.0)
Change in net cumulative unallocated derivative gains and losses60.0 (5.2)41.7 (21.1)
Cost of products sold – special project costs(1.1)— (11.7)— 
Other special project costs(10.1)(98.9)(27.9)(105.7)
Other debt gains (charges) – net
30.3 — 30.3 (19.5)
Corporate administrative expenses(77.2)(82.3)(247.4)(215.6)
Other income (expense) – net(3.4)(2.1)(10.7)(30.0)
Income before income taxes$(662.5)$195.5 $(349.7)$683.3 
Geographical information
The following table presents certain geographical information.
Three Months Ended January 31,Nine Months Ended January 31,
2025202420252024
Net sales:
United States$2,068.4 $2,094.7 $6,220.0 $5,567.4 
International:
Canada$89.8 $111.8 $271.9 $333.0 
All other international27.8 22.7 90.4 72.6 
Total international$117.6 $134.5 $362.3 $405.6 
Total net sales$2,186.0 $2,229.2 $6,582.3 $5,973.0 
Product category information
The following table presents product category information.
Three Months Ended January 31,Nine Months Ended January 31,
2025202420252024
Primary Reportable Segment (A)
Coffee$830.8 $817.6 $2,339.7 $2,305.1 U.S. Retail Coffee
Sweet baked goods266.1 270.2 841.9 270.2 Sweet Baked Snacks
Pet snacks237.4 261.0 719.4 760.3 U.S. Retail Pet Foods
Frozen handheld210.5 182.6 679.6 573.8 U.S. Retail Frozen Handheld and Spreads
Peanut butter200.9 204.5 633.3 617.1 U.S. Retail Frozen Handheld and Spreads
Cat food197.8 203.4 581.7 599.1 U.S. Retail Pet Foods
Fruit spreads99.4 108.2 307.6 321.7 U.S. Retail Frozen Handheld and Spreads
Portion control53.1 51.5 164.0 153.1 
Other (B)
Cookies12.9 30.1 86.3 30.1 Sweet Baked Snacks
Toppings and syrups20.7 21.0 69.3 67.7 U.S. Retail Frozen Handheld and Spreads
Baking mixes and ingredients23.2 23.1 66.3 68.0 
Other (B)
Dog food5.2 17.4 19.0 64.5 U.S. Retail Pet Foods
Other28.0 38.6 74.2 142.3 
Other (B)
Total net sales$2,186.0 $2,229.2 $6,582.3 $5,973.0 
(A)The primary reportable segment generally represents at least 75 percent of total net sales for each respective product category.
(B)Represents the combined International and Away From Home operating segments.
v3.25.0.1
Earnings per Share (Tables)
 9 Months Ended
Jan. 31, 2025
Earnings Per Share [Abstract]  
Computation of basic earnings per common share under two-class method
The following table sets forth the computation of basic and diluted earnings per share under the two-class method.
 Three Months Ended January 31,Nine Months Ended January 31,
 2025202420252024
Net income (loss)$(662.3)$120.4 $(501.8)$498.9 
Less: Net income (loss) allocated to participating securities— — — 0.2 
Net income (loss) allocated to common stockholders$(662.3)$120.4 $(501.8)$498.7 
Weighted-average common shares outstanding106.4 105.9 106.4 103.5 
Add: Dilutive effect of stock options— — — — 
Weighted-average common shares outstanding – assuming dilution106.4 105.9 106.4 103.5 
Net income (loss) per common share$(6.22)$1.14 $(4.72)$4.82 
Net income (loss) per common share – assuming dilution$(6.22)$1.14 $(4.72)$4.82 
Computation of diluted earnings per common share under two-class method
The following table sets forth the computation of basic and diluted earnings per share under the two-class method.
 Three Months Ended January 31,Nine Months Ended January 31,
 2025202420252024
Net income (loss)$(662.3)$120.4 $(501.8)$498.9 
Less: Net income (loss) allocated to participating securities— — — 0.2 
Net income (loss) allocated to common stockholders$(662.3)$120.4 $(501.8)$498.7 
Weighted-average common shares outstanding106.4 105.9 106.4 103.5 
Add: Dilutive effect of stock options— — — — 
Weighted-average common shares outstanding – assuming dilution106.4 105.9 106.4 103.5 
Net income (loss) per common share$(6.22)$1.14 $(4.72)$4.82 
Net income (loss) per common share – assuming dilution$(6.22)$1.14 $(4.72)$4.82 
Computation of diluted earnings per common share under treasury stock method
The following table sets forth the computation of diluted earnings per share under the treasury stock method.
Three Months Ended January 31,Nine Months Ended January 31,
2025202420252024
Net income (loss)$(662.3)$120.4 $(501.8)$498.9 
Weighted-average common shares outstanding – assuming dilution:
Weighted-average common shares outstanding106.4 105.9 106.4 103.5 
Add: Dilutive effect of stock options— — — — 
Add: Dilutive effect of restricted shares, restricted stock units, and performance units— 0.2 — 0.3 
Weighted-average common shares outstanding – assuming dilution106.4 106.1 106.4 103.8 
Net income (loss) per common share – assuming dilution$(6.22)$1.13 $(4.72)$4.81 
v3.25.0.1
Goodwill and Other Intangible Assets (Tables)
 9 Months Ended
Jan. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Summary of changes in the Company's goodwill
The following table summarizes the changes in our goodwill.
U.S. Retail CoffeeU.S. Retail Frozen Handheld and SpreadsU.S. Retail Pet FoodsSweet Baked SnacksInternational and Away From HomeTotal
Balance at April 30, 2024$2,090.9 $1,139.9 $1,580.2 $2,447.2 $391.7 $7,649.9 
Impairment charges (A)
— — — (794.3)— (794.3)
Divestiture— — — (277.4)— (277.4)
Other (B)(C)
— — — (0.4)(8.1)(8.5)
Balance at January 31, 2025$2,090.9 $1,139.9 $1,580.2 $1,375.1 $383.6 $6,569.7 
(A)We have recognized accumulated goodwill impairment charges of $1,037.2 as of January 31, 2025.
(B)The amount classified as other in the Sweet Baked Snacks segment represents purchase accounting adjustments for the acquisition of Hostess Brands.
(C)The amount classified as other in the International and Away From Home segment represents foreign currency translation adjustments.
Schedule of Indefinite-Lived Intangible Assets
The following table summarizes our other intangible assets and related accumulated amortization and impairment charges including foreign currency exchange adjustments.
January 31, 2025April 30, 2024
Acquisition CostAccumulated Amortization/Impairment Charges/Foreign Currency ExchangeNetAcquisition CostAccumulated Amortization/Impairment Charges/Foreign Currency ExchangeNet
Finite-lived intangible assets subject to
   amortization:
Customer and contractual relationships$4,596.5 $2,048.3 $2,548.2 $4,766.7 $1,894.9 $2,871.8 
Patents and technology163.0 161.0 2.0 163.0 160.8 2.2 
Trademarks136.4 114.8 21.6 143.1 110.8 32.3 
Total intangible assets subject to amortization$4,895.9 $2,324.1 $2,571.8 $5,072.8 $2,166.5 $2,906.3 
Indefinite-lived intangible assets not subject to
   amortization:
Trademarks$4,372.0 $432.7 $3,939.3 $4,572.7 $223.6 $4,349.1 
Total other intangible assets$9,267.9 $2,756.8 $6,511.1 $9,645.5 $2,390.1 $7,255.4 
Schedule of Finite-Lived Intangible Assets
The following table summarizes our other intangible assets and related accumulated amortization and impairment charges including foreign currency exchange adjustments.
January 31, 2025April 30, 2024
Acquisition CostAccumulated Amortization/Impairment Charges/Foreign Currency ExchangeNetAcquisition CostAccumulated Amortization/Impairment Charges/Foreign Currency ExchangeNet
Finite-lived intangible assets subject to
   amortization:
Customer and contractual relationships$4,596.5 $2,048.3 $2,548.2 $4,766.7 $1,894.9 $2,871.8 
Patents and technology163.0 161.0 2.0 163.0 160.8 2.2 
Trademarks136.4 114.8 21.6 143.1 110.8 32.3 
Total intangible assets subject to amortization$4,895.9 $2,324.1 $2,571.8 $5,072.8 $2,166.5 $2,906.3 
Indefinite-lived intangible assets not subject to
   amortization:
Trademarks$4,372.0 $432.7 $3,939.3 $4,572.7 $223.6 $4,349.1 
Total other intangible assets$9,267.9 $2,756.8 $6,511.1 $9,645.5 $2,390.1 $7,255.4 
v3.25.0.1
Debt and Financing Arrangements (Tables)
 9 Months Ended
Jan. 31, 2025
Debt Disclosure [Abstract]  
Long-term debt
The following table summarizes the components of our long-term debt.
 January 31, 2025April 30, 2024
 Principal
Outstanding
Carrying
Amount (A)
Principal
Outstanding
Carrying
Amount (A)
3.50% Senior Notes due March 15, 2025
$1,000.0 $999.9 $1,000.0 $999.3 
3.38% Senior Notes due December 15, 2027
500.0 498.8 500.0 498.4 
5.90% Senior Notes due November 15, 2028
750.0 745.4 750.0 744.5 
2.38% Senior Notes due March 15, 2030
500.0 497.5 500.0 497.2 
2.13% Senior Notes due March 15, 2032
364.5 361.2 500.0 495.2 
6.20% Senior Notes due November 15, 2033
1,000.0 992.2 1,000.0 991.5 
4.25% Senior Notes due March 15, 2035
650.0 645.8 650.0 645.5 
2.75% Senior Notes due September 15, 2041
177.5 176.1 300.0 297.4 
6.50% Senior Notes due November 15, 2043
750.0 737.0 750.0 736.5 
4.38% Senior Notes due March 15, 2045
600.0 589.1 600.0 588.7 
3.55% Senior Notes due March 15, 2050
161.2 159.3 300.0 296.2 
6.50% Senior Notes due November 15, 2053
1,000.0 983.1 1,000.0 982.6 
Total long-term debt$7,453.2 $7,385.4 $7,850.0 $7,773.0 
Current portion of long-term debt1,000.0 999.9 1,000.0 999.3 
Total long-term debt, less current portion$6,453.2 $6,385.5 $6,850.0 $6,773.7 
(A) Represents the carrying amount included in the Condensed Consolidated Balance Sheets, which includes the impact of capitalized debt issuance costs, offering discounts, and terminated interest rate contracts.
v3.25.0.1
Pensions and Other Postretirement Benefits (Tables)
 9 Months Ended
Jan. 31, 2025
Retirement Benefits [Abstract]  
Net periodic benefit cost
The following table summarizes our net periodic benefit cost for defined benefit pension and other postretirement benefit plans.
Three Months Ended January 31,
Defined Benefit Pension PlansOther Postretirement Benefits
2025202420252024
Service cost$0.1 $0.2 $0.2 $0.2 
Interest cost4.5 4.5 0.7 0.7 
Expected return on plan assets(3.1)(4.0)— — 
Amortization of net actuarial loss (gain)1.1 1.0 (0.5)(0.4)
Amortization of prior service cost (credit)— — (0.2)(0.1)
Net periodic benefit cost$2.6 $1.7 $0.2 $0.4 
Nine Months Ended January 31,
 Defined Benefit Pension PlansOther Postretirement Benefits
 2025202420252024
Service cost$0.5 $0.7 $0.5 $0.6 
Interest cost13.3 13.8 2.0 2.0 
Expected return on plan assets(9.3)(12.2)— — 
Amortization of net actuarial loss (gain)3.3 2.7 (1.5)(1.2)
Amortization of prior service cost (credit)0.1 0.1 (0.5)(0.4)
Settlement loss (gain)— 3.2 — — 
Net periodic benefit cost$7.9 $8.3 $0.5 $1.0 
v3.25.0.1
Derivative Financial Instruments (Tables)
 9 Months Ended
Jan. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Outstanding derivative contracts
The following table presents the gross notional value of outstanding derivative contracts.
January 31, 2025April 30, 2024
Commodity contracts$1,534.4 $787.7 
Foreign currency exchange contracts98.0 98.6 
Fair value of derivative instruments
The following tables set forth the gross fair value amounts of derivative instruments recognized in the Condensed Consolidated Balance Sheets.
 January 31, 2025
 Other
Current
Assets		Other
Current
Liabilities		Other
Noncurrent
Assets		Other
Noncurrent
Liabilities
Derivatives not designated as hedging instruments:
Commodity contracts$57.0 $36.6 $— $— 
Foreign currency exchange contracts4.4 — 0.2 — 
Total derivative instruments$61.4 $36.6 $0.2 $— 
 April 30, 2024
 Other
Current
Assets		Other
Current
Liabilities		Other
Noncurrent
Assets		Other
Noncurrent
Liabilities
Derivatives not designated as hedging instruments:
Commodity contracts$35.8 $9.3 $— $0.1 
Foreign currency exchange contracts1.9 0.1 — — 
Total derivative instruments$37.7 $9.4 $— $0.1 
Net gains and losses recognized in costs of products sold on derivatives not designated as hedging instruments
The following table presents the net gains and losses recognized in cost of products sold in the Condensed Statements of Consolidated Income on derivatives not designated as hedging instruments.
 Three Months Ended January 31,Nine Months Ended January 31,
 2025202420252024
Derivative gains (losses) on commodity contracts$60.1 $(6.1)$50.7 $(3.3)
Derivative gains (losses) on foreign currency exchange contracts3.8 (3.3)5.5 (0.7)
Total derivative gains (losses) recognized in cost of products sold$63.9 $(9.4)$56.2 $(4.0)
Net cumulative unallocated derivative gains (losses) The following table presents the net change in cumulative unallocated derivative gains and losses.
 Three Months Ended January 31,Nine Months Ended January 31,
2025202420252024
Net derivative gains (losses) recognized and classified as unallocated$63.9 $(9.4)$56.2 $(4.0)
Less: Net derivative gains (losses) reclassified to segment operating profit3.9 (4.2)14.5 17.1 
Change in net cumulative unallocated derivative gains and losses$60.0 $(5.2)$41.7 $(21.1)
Pre-tax gains and losses recognized on all contracts previously designated as cash flow hedges
The following table presents information on the pre-tax gains and losses recognized on all contracts previously designated as cash flow hedges.
Three Months Ended January 31,Nine Months Ended January 31,
2025202420252024
Gains (losses) recognized in other comprehensive income (loss)$— $— $— $— 
Less: Gains (losses) reclassified from accumulated other comprehensive income (loss) to interest expense – net (A)
(3.0)(3.3)(9.8)(10.1)
Less: Gains (losses) reclassified from accumulated other comprehensive income (loss) to other debt gains (charges) – net (B)
(56.9)— (56.9)— 
Change in accumulated other comprehensive income (loss)$59.9 $3.3 $66.7 $10.1 
(A)Interest expense – net, as presented in the Condensed Statements of Consolidated Income was $95.4 and $99.8 for the three months ended January 31, 2025 and 2024, respectively, and $294.5 and $167.0 for the nine months ended January 31, 2025 and 2024, respectively. The reclassification includes terminated contracts which were designated as cash flow hedges.
(B)Other debt gains (charges) – net, as presented in the Condensed Statement of Consolidated Income was $30.3 for the three and nine months ended January 31, 2025. The reclassification is related to the debt extinguishment due to the tender offers, as discussed in Note 9: Debt and Financing Arrangements.
v3.25.0.1
Other Financial Instruments and Fair Value Measurements (Tables)
 9 Months Ended
Jan. 31, 2025
Fair Value Disclosures [Abstract]  
Carrying amount and fair value of financial instruments
The following table provides information on the carrying amounts and fair values of our financial instruments.
 January 31, 2025April 30, 2024
 Carrying
Amount		Fair ValueCarrying
Amount		Fair Value
Marketable securities and other investments$21.2 $21.2 $22.1 $22.1 
Derivative financial instruments – net25.0 25.0 28.2 28.2 
Total long-term debt(7,385.4)(7,514.1)(7,773.0)(7,652.9)
Financial assets (liabilities) measured at fair value on a recurring basis
The following tables summarize the fair values and the levels within the fair value hierarchy in which the fair value measurements fall for our financial instruments.
Quoted Prices in
Active Markets for
Identical Assets
(Level 1)		Significant
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)		Fair Value at January 31, 2025
Marketable securities and other investments: (A)
Equity mutual funds$4.2 $— $— $4.2 
Municipal obligations— 15.9 — 15.9 
Money market funds1.1 — — 1.1 
Derivative financial instruments: (B)
Commodity contracts – net20.4 — — 20.4 
Foreign currency exchange contracts – net0.1 4.5 — 4.6 
Total long-term debt (C)
(7,514.1)— — (7,514.1)
Total financial instruments measured at fair value$(7,488.3)$20.4 $— $(7,467.9)
 Quoted Prices in
Active Markets for
Identical Assets
(Level 1)		Significant
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)		Fair Value at
April 30, 2024
Marketable securities and other investments: (A)
Equity mutual funds$4.5 $— $— $4.5 
Municipal obligations— 17.2 — 17.2 
Money market funds0.4 — — 0.4 
Derivative financial instruments: (B)
Commodity contracts – net26.7 (0.3)— 26.4 
Foreign currency exchange contracts – net0.5 1.3 — 1.8 
Total long-term debt (C)
(7,652.9)— — (7,652.9)
Total financial instruments measured at fair value$(7,620.8)$18.2 $— $(7,602.6)
(A)Marketable securities and other investments consist of funds maintained for the payment of benefits associated with nonqualified retirement plans. The funds include equity securities listed in active markets, municipal obligations valued by a third-party using valuation techniques that utilize inputs that are derived principally from or corroborated by observable market data, and money market funds with maturities of three months or less. Based on the short-term nature of these money market funds, carrying value approximates fair value. As of January 31, 2025, our municipal obligations are scheduled to mature as follows: $0.2 in 2025, $0.8 in 2026, $3.9 in 2027, $0.4 in 2028, $3.3 in 2029, and the remaining $7.3 in 2030 and beyond.
(B)Level 1 commodity and foreign currency exchange derivatives are valued using quoted market prices for identical instruments in active markets. Level 2 commodity and foreign currency exchange derivatives are valued using quoted prices for similar assets or liabilities in active markets. For additional information, see Note 11: Derivative Financial Instruments.
(C)Long-term debt is composed of public Senior Notes, which are traded in an active secondary market and valued using quoted prices. For additional information, see Note 9: Debt and Financing Arrangements.
v3.25.0.1
Leases (Tables)
 9 Months Ended
Jan. 31, 2025
Leases [Abstract]  
Right-of-use assets and lease liabilities recognized in the Condensed Consolidated Balance Sheets
The following table sets forth the right-of-use assets and lease liabilities recognized in the Condensed Consolidated Balance Sheets.
January 31, 2025April 30, 2024
Operating lease right-of-use assets$121.4 $174.6 
Operating lease liabilities:
Current operating lease liabilities$38.0 $40.5 
Noncurrent operating lease liabilities
89.8 143.5 
Total operating lease liabilities$127.8 $184.0 
Finance lease right-of-use assets:
Machinery and equipment
$22.8 $18.7 
Accumulated depreciation
(12.1)(8.0)
Total property, plant, and equipment$10.7 $10.7 
Finance lease liabilities:
Other current liabilities
$3.1 $2.8 
Other noncurrent liabilities
8.1 8.3 
Total finance lease liabilities$11.2 $11.1 
Components of lease expense
The following table summarizes the components of lease expense.
Three Months Ended January 31,Nine Months Ended January 31,
2025202420252024
Operating lease cost$11.0 $13.1 $35.5 $37.0 
Finance lease cost:
Amortization of right-of-use assets 0.9 0.7 2.5 2.7 
Interest on lease liabilities
0.2 0.1 0.5 0.4 
Variable lease cost3.9 6.4 16.2 17.6 
Short-term lease cost9.4 11.8 33.3 32.4 
Total lease cost (A)
$25.4 $32.1 $88.0 $90.1 
(A)Total lease cost does not include sublease income which is immaterial for all years presented.
Cash flow and noncash information related to leases
The following table sets forth cash flow and noncash information related to leases.
Nine Months Ended January 31,
20252024
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases
$36.5 $36.9 
Operating cash flows from finance leases 0.4 0.4 
Financing cash flows from finance leases
2.6 2.6 
Right-of-use assets obtained in exchange for new lease liabilities:
Operating leases8.7 91.9 
Finance leases
2.6 8.0 
Maturity of operating lease liabilities by fiscal year
The following table summarizes the maturity of our lease liabilities by fiscal year.
January 31, 2025
Operating LeasesFinance Leases
2025 (remainder of the year)$10.6 $0.9 
202641.2 3.4 
202721.4 3.1 
202812.3 2.9 
202910.9 1.5 
2030 and beyond 52.9 0.5 
Total undiscounted minimum lease payments $149.3 $12.3 
Less: Imputed interest21.5 1.1 
Lease liabilities $127.8 $11.2 
Maturity of finance lease liabilities by fiscal year
The following table summarizes the maturity of our lease liabilities by fiscal year.
January 31, 2025
Operating LeasesFinance Leases
2025 (remainder of the year)$10.6 $0.9 
202641.2 3.4 
202721.4 3.1 
202812.3 2.9 
202910.9 1.5 
2030 and beyond 52.9 0.5 
Total undiscounted minimum lease payments $149.3 $12.3 
Less: Imputed interest21.5 1.1 
Lease liabilities $127.8 $11.2 
Weighted average remaining lease term and discount rate
The following table sets forth the weighted average remaining lease term and discount rate.
January 31, 2025April 30, 2024
Weighted average remaining lease term (in years):
Operating leases
6.16.2
Finance leases 3.84.3
Weighted average discount rate:
Operating leases4.6 %4.3 %
Finance leases
5.0 %4.8 %
v3.25.0.1
Accumulated Other Comprehensive Income (Loss) (Tables)
 9 Months Ended
Jan. 31, 2025
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]  
Components of accumulated other comprehensive income (loss)
The components of accumulated other comprehensive income (loss), including the reclassification adjustments for items that are reclassified from accumulated other comprehensive income (loss) to net income (loss), are shown below.
Foreign
Currency
Translation
Adjustment
Net Gains (Losses)
on Cash Flow
Hedging
Derivatives (A)
Pension and
Other
Postretirement
Liabilities (B)
Unrealized 
Gain (Loss)
on Available-
for-Sale
Securities		Accumulated
Other
Comprehensive
Income (Loss)
Balance at May 1, 2024$(39.2)$(143.1)$(53.4)$1.1 $(234.6)
Reclassification adjustments— 66.7 1.4 — 68.1 
Current period credit (charge)(14.3)— — (0.5)(14.8)
Income tax benefit (expense)— (15.7)(0.4)0.1 (16.0)
Balance at January 31, 2025$(53.5)$(92.1)$(52.4)$0.7 $(197.3)
 Foreign
Currency
Translation
Adjustment
Net Gains (Losses)
on Cash Flow
Hedging
Derivatives (A)
Pension and
Other
Postretirement
Liabilities (B)
Unrealized
Gain (Loss)
on Available-
for-Sale
Securities		Accumulated
Other
Comprehensive
Income (Loss)
Balance at May 1, 2023$(34.3)$(153.6)$(52.7)$1.4 $(239.2)
Reclassification adjustments— 10.1 4.4 — 14.5 
Current period credit (charge)2.4 — (3.2)0.3 (0.5)
Income tax benefit (expense)— (1.9)(0.2)(0.1)(2.2)
Balance at January 31, 2024$(31.9)$(145.4)$(51.7)$1.6 $(227.4)
(A)The reclassification from accumulated other comprehensive income (loss) is primarily composed of deferred gains (losses) related to terminated interest rate contracts which were reclassified to interest expense – net. In addition, a portion of the reclassification in 2025 was reclassified to other debt gains (charges) – net resulting from the extinguishment of debt from the tender offers. For additional information, see Note 11: Derivative Financial Instruments and Note 9: Debt and Financing Arrangements.
(B)The reclassification from accumulated other comprehensive income (loss) to other income (expense) – net is composed of settlement charges and amortization of net losses and prior service costs. For additional information, see Note 10: Pensions and Other Postretirement Benefits.
v3.25.0.1
Common Shares (Tables)
 9 Months Ended
Jan. 31, 2025
Stockholders' Equity Note [Abstract]  
Common shares information
The following table sets forth common share information.
January 31, 2025April 30, 2024
Common shares authorized300.0 300.0 
Common shares outstanding106.4 106.2 
Treasury shares44.1 44.3 
v3.25.0.1
Acquisition (Details) - USD ($)
$ in Millions
Jan. 31, 2025
Apr. 30, 2024
Nov. 07, 2023
Acquisition [Line Items]      
Goodwill, ending balance $ 6,569.7 $ 7,649.9  
Sweet Baked Snacks      
Acquisition [Line Items]      
Goodwill, ending balance $ 1,375.1 $ 2,447.2  
Hostess Brands      
Acquisition [Line Items]      
Cash and cash equivalents     $ 135.0
Trade receivables – net     181.1
Inventories     66.0
Other current assets     6.0
Property, plant, and equipment – net     534.5
Operating lease right-of-use assets     17.2
Goodwill, ending balance     2,446.8
Other intangible assets - net     3,038.6
Other noncurrent assets     43.2
Total assets acquired     6,468.4
Accounts payable     67.3
Other current liabilities     249.0
Deferred income taxes     639.4
Noncurrent operating lease liabilities     14.5
Other noncurrent liabilities     1.4
Total liabilities assumed     971.6
Net assets acquired     5,496.8
Hostess Brands | Sweet Baked Snacks      
Acquisition [Line Items]      
Goodwill, ending balance     $ 2,400.0
v3.25.0.1
Acquisition (Details 1) - Hostess Brands
$ in Millions
Nov. 07, 2023
USD ($)
Acquisition [Line Items]  
Total intangible assets $ 3,038.6
Trademarks  
Acquisition [Line Items]  
Intangible assets with indefinite lives 1,752.2
Customer and contractual relationships  
Acquisition [Line Items]  
Finite-lived intangible assets $ 1,238.5
Finite-lived intangible assets useful life 25 years
Noncompete Agreements  
Acquisition [Line Items]  
Finite-lived intangible assets $ 38.0
Trademarks  
Acquisition [Line Items]  
Finite-lived intangible assets $ 9.9
Finite-lived intangible assets useful life 5 years
v3.25.0.1
Acquisition (Details 2) - Pro Forma - USD ($)
$ / shares in Units, $ in Millions
 3 Months Ended 9 Months Ended
Jan. 31, 2024
Jan. 31, 2024
Acquisition, Pro Forma [Line Items]    
Net sales $ 2,253.2 $ 6,707.1
Net income $ 162.7 $ 508.5
Net income per common share - assuming dilution $ 1.53 $ 4.78
v3.25.0.1
Acquisition (Details Textual) - USD ($)
$ / shares in Units, $ in Millions
 3 Months Ended 9 Months Ended
Nov. 07, 2023
Jan. 31, 2025
Oct. 31, 2024
Jan. 31, 2024
Jan. 31, 2025
Jan. 31, 2024
Apr. 30, 2024
Oct. 31, 2023
Sep. 08, 2023
Acquisition [Line Items]                  
Business acquired, net of cash acquired         $ 0.0 $ 3,920.6      
Debt instrument face amount   $ 7,453.2     7,453.2   $ 7,850.0    
Short-term borrowings   461.9     461.9   591.0    
Net sales   2,186.0   $ 2,229.2 6,582.3 5,973.0      
Operating income (loss)   (594.0)   297.4 (74.8) 899.8      
Goodwill impairment charge   794.3   0.0 794.3 0.0      
Other intangible assets impairment charge   208.2   0.0 208.2 0.0      
Loss (gain) on divestitures – net   (50.2)   (0.3) (311.0) (12.9)      
Goodwill   6,569.7     6,569.7   7,649.9    
Asset Impairment Charges   1,000.0              
Sweet Baked Snacks Value Brands                  
Acquisition [Line Items]                  
Loss (gain) on divestitures – net         (42.6)        
Voortman                  
Acquisition [Line Items]                  
Loss (gain) on divestitures – net     $ (260.8)   (268.4)        
Sweet Baked Snacks                  
Acquisition [Line Items]                  
Net sales   278.6   300.3 927.8 300.3      
Operating income (loss)   (1,021.6)     (1,180.8)        
Goodwill impairment charge [1]         794.3        
Goodwill   1,375.1     1,375.1   2,447.2    
Commercial Paper [Member]                  
Acquisition [Line Items]                  
Short-term borrowings   462.0     462.0   $ 591.0    
Hostess Brands                  
Acquisition [Line Items]                  
Business Combination, Consideration Transferred $ 5,400.0                
Business Acquisition, Share Price $ 34.25                
Business Acquisition, Equity Interest Issued or Issuable, Price Per Share Paid                 $ 30.00
Business Acquisition, Equity Interest Issued or Issuable, Fraction of Common Shares Issued                 0.03002
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares 4,000,000.0                
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned $ 450.2                
Business acquired, net of cash acquired 3,900.0                
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-Term Debt 991.0                
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Other Debt-Like Item 67.8                
Goodwill 2,446.8                
Goodwill deductible for tax purposes 196.6 $ 170.3     $ 170.3        
Finite Lived Intangible Assets Expected Annual Amortization Expense 71.6                
Hostess Brands | Sweet Baked Snacks                  
Acquisition [Line Items]                  
Goodwill 2,400.0                
Hostess Brands | Commercial Paper [Member]                  
Acquisition [Line Items]                  
Short-term borrowings 700.0                
Hostess Brands | Senior Notes [Member]                  
Acquisition [Line Items]                  
Proceeds from Issuance of Debt           5,000.0      
Debt instrument face amount       $ 3,500.0   $ 3,500.0   $ 3,500.0  
Hostess Brands | Term Loan Credit Agreement                  
Acquisition [Line Items]                  
Debt Instrument, Unused Borrowing Capacity, Amount $ 800.0                
[1] We have recognized accumulated goodwill impairment charges of $1,037.2 as of January 31, 2025.
v3.25.0.1
Divestitures (Detail) - Sweet Baked Snacks Value Brands
$ in Millions
Jan. 31, 2025
USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]  
Inventories $ 4.6
Property, plant, and equipment - net 42.9
Operating lease right-of-use assets 0.9
Goodwill 26.3
Other intangible assets – net 5.0
Valuation Allowance (42.6)
Total assets held for sale 37.1
Other current liabilities 0.9
Noncurrent operating lease liabilities 0.3
Total liabilities held for sale 1.2
Net assets held for sale $ 35.9
v3.25.0.1
Divestitures (Details 1) - USD ($)
$ in Millions
 9 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]    
Proceeds from divestitures – net $ 290.5 $ 50.5
Voortman    
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]    
Cash and cash equivalents 1.4  
Inventories 7.7  
Other current assets 0.7  
Property, plant, and equipment - net 33.9  
Operating lease right-of-use assets 8.2  
Goodwill 251.1  
Other intangible assets – net 363.0  
Total assets held for sale 666.0  
Accrued expenses 1.9  
Current operating lease obligations 1.3  
Deferred income taxes 95.2  
Noncurrent operating lease liabilities 7.4  
Other noncurrent liabilities 0.9  
Total liabilities held for sale 106.7  
Net assets held for sale $ 559.3  
v3.25.0.1
Divestitures (Details Textual)
shares in Millions, $ in Millions
 3 Months Ended 6 Months Ended 9 Months Ended 12 Months Ended 24 Months Ended
Jan. 31, 2025
USD ($)
Position
Nov. 15, 2023
USD ($)
Apr. 28, 2023
USD ($)
numberOfEmployees
shares
Jan. 31, 2025
USD ($)
Position
Oct. 31, 2024
USD ($)
Jan. 31, 2024
USD ($)
Oct. 31, 2023
USD ($)
Apr. 30, 2024
USD ($)
Jan. 31, 2025
USD ($)
Position
Jan. 31, 2024
USD ($)
Apr. 30, 2024
USD ($)
Apr. 30, 2024
USD ($)
Dec. 02, 2024
Position
Nov. 01, 2023
numberOfEmployees
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                            
Proceeds from divestitures – net                 $ 290.5 $ 50.5        
Loss (gain) on divestitures – net       $ 50.2   $ 0.3     311.0 12.9        
Canada Condiment Business [Member]                            
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                            
Proceeds from divestitures – net                     $ 25.3      
Loss (gain) on divestitures – net             $ (5.2)     (5.7) 5.7      
Canada Condiment Business [Member] | International and Away From Home                            
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                            
Annual net sales                     43.8      
Sahale Snacks Business [Member]                            
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                            
Proceeds from divestitures – net                     31.6      
Loss (gain) on divestitures – net             $ (6.8)     $ (6.7) 6.7      
Disposal Group, Not Discontinued Operation, Number of Employees | numberOfEmployees                           100
Sahale Snacks Business [Member] | U.S. Retail Frozen Handheld and Spreads                            
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                            
Annual net sales                     $ 24.1      
Pet Food Brands [Member]                            
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                            
Proceeds from divestitures – net                       $ 683.9    
Loss (gain) on divestitures – net                       1,000.0    
Disposal Group, Not Discontinued Operation, Number of Employees | numberOfEmployees     1,100                      
Total proceeds from divestitures - cash and equity                       $ 1,200.0    
Pet Food Brands [Member] | Post Holdings Inc.                            
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                            
Proceeds from divestitures - equity | shares     5.4                      
Investment in equity securities     $ 491.6                      
Proceeds from investment in equity securities   $ 466.3                        
Voortman                            
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                            
Loss (gain) on divestitures – net         $ 260.8       268.4          
Disposal Group, Not Discontinued Operation, Number of Employees | Position                         300  
Voortman | Sweet Baked Snacks                            
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                            
Annual net sales               $ 65.0            
Sweet Baked Snacks Value Brands                            
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                            
Proceeds from divestitures – net $ 40.0                          
Loss (gain) on divestitures – net                 $ 42.6          
Disposal Group, Not Discontinued Operation, Number of Employees | Position 400     400         400          
Sweet Baked Snacks Value Brands | Sweet Baked Snacks                            
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                            
Annual net sales               $ 30.0            
v3.25.0.1
Special Project Costs (Details) - Hostess Brands
$ in Millions
 3 Months Ended 9 Months Ended
Jan. 31, 2025
USD ($)
Jan. 31, 2025
USD ($)
Restructuring Cost and Reserve [Line Items]    
Restructuring and related cost, incurred cost $ 7.8 $ 34.9
Restructuring and related cost, cost incurred to date 182.3 182.3
Transaction Costs    
Restructuring Cost and Reserve [Line Items]    
Restructuring and related cost, incurred cost 0.0 0.0
Restructuring and related cost, cost incurred to date 99.0 99.0
Employee-related costs    
Restructuring Cost and Reserve [Line Items]    
Restructuring and related cost, incurred cost 2.5 9.5
Restructuring and related cost, cost incurred to date 42.9 42.9
Other transition and termination costs    
Restructuring Cost and Reserve [Line Items]    
Restructuring and related cost, incurred cost 5.3 25.4
Restructuring and related cost, cost incurred to date $ 40.4 $ 40.4
v3.25.0.1
Special Project Costs (Details Textual) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended 21 Months Ended
Jan. 31, 2025
Jan. 31, 2025
Jan. 31, 2025
Apr. 30, 2024
Hostess Brands        
Restructuring Cost and Reserve [Line Items]        
Restructuring and related cost, cost incurred to date $ 182.3 $ 182.3 $ 182.3  
Restructuring and related cost, incurred cost 7.8 34.9    
Restructuring and related cost, expected cost 210.0 210.0 210.0  
Restructuring and related cost, noncash charge incurred to date 16.4 16.4 16.4  
Restructuring and related cost, incurred noncash charge 1.7 13.2    
Hostess Brands | Employee-related costs        
Restructuring Cost and Reserve [Line Items]        
Restructuring and related cost, cost incurred to date 42.9 42.9 42.9  
Restructuring and related cost, incurred cost 2.5 9.5    
Restructuring reserve 10.8 10.8 10.8 $ 28.0
Hostess Brands | Other transition and termination costs        
Restructuring Cost and Reserve [Line Items]        
Restructuring and related cost, cost incurred to date 40.4 40.4 40.4  
Restructuring and related cost, incurred cost 5.3 25.4    
Sahale Snacks and Canada Condiment Divestitures        
Restructuring Cost and Reserve [Line Items]        
Restructuring and related cost, cost incurred to date 7.2 7.2 7.2  
Sahale Snacks and Canada Condiment Divestitures | Employee-related costs        
Restructuring Cost and Reserve [Line Items]        
Restructuring and related cost, cost incurred to date 4.3 4.3 4.3  
Restructuring and related cost, incurred cost 1.3 1.7    
Restructuring reserve       $ 2.5
Sahale Snacks and Canada Condiment Divestitures | Other transition and termination costs        
Restructuring Cost and Reserve [Line Items]        
Restructuring and related cost, cost incurred to date 2.9 2.9 2.9  
Pet Food Brands [Member] | Other transition and termination costs        
Restructuring Cost and Reserve [Line Items]        
Restructuring and related cost, incurred cost 2.1 3.0 3.1  
Restructuring and related cost, expected cost $ 12.0 $ 12.0 $ 12.0  
v3.25.0.1
Reportable Segments (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2025
Jan. 31, 2024
Segment Reporting Information [Line Items]        
Net sales $ 2,186.0 $ 2,229.2 $ 6,582.3 $ 5,973.0
Segment profit 541.0 539.8 1,649.7 1,390.2
Amortization (53.9) (55.7) (165.7) (135.1)
Goodwill impairment charge (794.3) 0.0 (794.3) 0.0
Other intangible assets impairment charge (208.2) 0.0 (208.2) 0.0
Loss (gain) on divestitures – net (50.2) (0.3) (311.0) (12.9)
Interest expense – net (95.4) (99.8) (294.5) (167.0)
Change in net cumulative unallocated derivative gains and losses 60.0 (5.2) 41.7 (21.1)
Costs of products sold – special project costs (1.1) 0.0 (11.7) 0.0
Other special project costs (10.1) (98.9) (27.9) (105.7)
Other debt gains (charges) – net 30.3 0.0 30.3 (19.5)
Corporate administrative expenses (77.2) (82.3) (247.4) (215.6)
Other income (expense) – net (3.4) (2.1) (10.7) (30.0)
Income (Loss) Before Income Taxes (662.5) 195.5 (349.7) 683.3
U.S. Retail Coffee        
Segment Reporting Information [Line Items]        
Net sales 740.6 727.5 2,068.0 2,038.3
Segment profit 208.6 207.8 583.9 548.9
Goodwill impairment charge     0.0  
U.S. Retail Frozen Handheld and Spreads        
Segment Reporting Information [Line Items]        
Net sales 445.2 436.8 1,427.2 1,365.1
Segment profit 99.2 104.1 334.3 338.3
Goodwill impairment charge     0.0  
U.S. Retail Pet Foods        
Segment Reporting Information [Line Items]        
Net sales 423.0 465.2 1,268.1 1,370.2
Segment profit 116.8 109.5 353.5 288.0
Goodwill impairment charge     0.0  
Sweet Baked Snacks        
Segment Reporting Information [Line Items]        
Net sales 278.6 300.3 927.8 300.3
Segment profit 54.8 68.0 199.8 68.0
Goodwill impairment charge [1]     (794.3)  
International and Away From Home        
Segment Reporting Information [Line Items]        
Net sales 298.6 299.4 891.2 899.1
Segment profit $ 61.6 $ 50.4 178.2 $ 147.0
Goodwill impairment charge     $ 0.0  
[1] We have recognized accumulated goodwill impairment charges of $1,037.2 as of January 31, 2025.
v3.25.0.1
Reportable Segments (Details 1) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2025
Jan. 31, 2024
Geographical information [Line Items]        
Net sales $ 2,186.0 $ 2,229.2 $ 6,582.3 $ 5,973.0
United States        
Geographical information [Line Items]        
Net sales 2,068.4 2,094.7 6,220.0 5,567.4
Total international        
Geographical information [Line Items]        
Net sales 117.6 134.5 362.3 405.6
Canada        
Geographical information [Line Items]        
Net sales 89.8 111.8 271.9 333.0
All other international        
Geographical information [Line Items]        
Net sales $ 27.8 $ 22.7 $ 90.4 $ 72.6
v3.25.0.1
Reportable Segments (Details 2) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2025
Jan. 31, 2024
Product category information [Line Items]        
Net sales $ 2,186.0 $ 2,229.2 $ 6,582.3 $ 5,973.0
Percent of product sales attributable to primary reportable segment     75.00% 75.00%
U.S. Retail Coffee        
Product category information [Line Items]        
Net sales 740.6 727.5 $ 2,068.0 $ 2,038.3
U.S. Retail Coffee | Coffee        
Product category information [Line Items]        
Net sales [1] 830.8 817.6 2,339.7 2,305.1
U.S. Retail Frozen Handheld and Spreads        
Product category information [Line Items]        
Net sales 445.2 436.8 1,427.2 1,365.1
U.S. Retail Frozen Handheld and Spreads | Frozen handheld        
Product category information [Line Items]        
Net sales [1] 210.5 182.6 679.6 573.8
U.S. Retail Frozen Handheld and Spreads | Peanut butter        
Product category information [Line Items]        
Net sales [1] 200.9 204.5 633.3 617.1
U.S. Retail Frozen Handheld and Spreads | Fruit spreads        
Product category information [Line Items]        
Net sales [1] 99.4 108.2 307.6 321.7
U.S. Retail Frozen Handheld and Spreads | Toppings and syrups        
Product category information [Line Items]        
Net sales [1] 20.7 21.0 69.3 67.7
U.S. Retail Pet Foods        
Product category information [Line Items]        
Net sales 423.0 465.2 1,268.1 1,370.2
U.S. Retail Pet Foods | Pet snacks        
Product category information [Line Items]        
Net sales [1] 237.4 261.0 719.4 760.3
U.S. Retail Pet Foods | Cat food        
Product category information [Line Items]        
Net sales [1] 197.8 203.4 581.7 599.1
U.S. Retail Pet Foods | Dog food        
Product category information [Line Items]        
Net sales [1] 5.2 17.4 19.0 64.5
Sweet Baked Snacks        
Product category information [Line Items]        
Net sales 278.6 300.3 927.8 300.3
Sweet Baked Snacks | Sweet Baked Goods        
Product category information [Line Items]        
Net sales [1] 266.1 270.2 841.9 270.2
Sweet Baked Snacks | Cookies        
Product category information [Line Items]        
Net sales [1] 12.9 30.1 86.3 30.1
Other        
Product category information [Line Items]        
Net sales 298.6 299.4 891.2 899.1
Other | Portion control        
Product category information [Line Items]        
Net sales [1],[2] 53.1 51.5 164.0 153.1
Other | Baking mixes and ingredients        
Product category information [Line Items]        
Net sales [1],[2] 23.2 23.1 66.3 68.0
Other | Other        
Product category information [Line Items]        
Net sales [1],[2] $ 28.0 $ 38.6 $ 74.2 $ 142.3
[1] The primary reportable segment generally represents at least 75 percent of total net sales for each respective product category.
[2] Represents the combined International and Away From Home operating segments.
v3.25.0.1
Reportable Segments (Details Textual)
 9 Months Ended
Jan. 31, 2025
Industry
Segment
Segment Reporting [Abstract]  
Number of industries in which Company operates | Industry 1
Number of reportable segments | Segment 4
v3.25.0.1
Earnings per Share (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 3 Months Ended 9 Months Ended
Jan. 31, 2025
Oct. 31, 2024
Jul. 31, 2024
Jan. 31, 2024
Oct. 31, 2023
Jul. 31, 2023
Jan. 31, 2025
Jan. 31, 2024
Schedule of Earnings Per Share, Two Class Method [Line Items]                
Net income (loss) $ (662.3) $ (24.5) $ 185.0 $ 120.4 $ 194.9 $ 183.6 $ (501.8) $ 498.9
Net income (loss) per common share (in dollars per share) $ (6.22)     $ 1.14     $ (4.72) $ 4.82
Net income (loss) per common share – assuming dilution $ (6.22)     $ 1.13     $ (4.72) $ 4.81
Two-class method                
Schedule of Earnings Per Share, Two Class Method [Line Items]                
Net income (loss) $ (662.3)     $ 120.4     $ (501.8) $ 498.9
Less: Net income (loss) allocated to participating securities 0.0     0.0     0.0 0.2
Net income (loss) allocated to common stockholders $ (662.3)     $ 120.4     $ (501.8) $ 498.7
Weighted-average common shares outstanding 106.4     105.9     106.4 103.5
Add: Dilutive effect of stock options (in shares) 0.0     0.0     0.0 0.0
Weighted-average common shares outstanding – assuming dilution (in shares) 106.4     105.9     106.4 103.5
Net income (loss) per common share (in dollars per share) $ (6.22)     $ 1.14     $ (4.72) $ 4.82
Net income (loss) per common share – assuming dilution $ (6.22)     $ 1.14     $ (4.72) $ 4.82
v3.25.0.1
Earnings Per Share (Details 1) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 3 Months Ended 9 Months Ended
Jan. 31, 2025
Oct. 31, 2024
Jul. 31, 2024
Jan. 31, 2024
Oct. 31, 2023
Jul. 31, 2023
Jan. 31, 2025
Jan. 31, 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Net income (loss) $ (662.3) $ (24.5) $ 185.0 $ 120.4 $ 194.9 $ 183.6 $ (501.8) $ 498.9
Net income (loss) per common share – assuming dilution $ (6.22)     $ 1.13     $ (4.72) $ 4.81
Treasury Stock Method [Member]                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Net income (loss) $ (662.3)     $ 120.4     $ (501.8) $ 498.9
Weighted-average common shares outstanding 106.4     105.9     106.4 103.5
Weighted-average common shares outstanding – assuming dilution (in shares) 106.4     106.1     106.4 103.8
Net income (loss) per common share – assuming dilution $ (6.22)     $ 1.13     $ (4.72) $ 4.81
Employee stock options | Treasury Stock Method [Member]                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Dilutive effect (in shares) 0.0     0.0     0.0 0.0
Restricted shares, restricted stock units, and performance units | Treasury Stock Method [Member]                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Dilutive effect (in shares) 0.0     0.2     0.0 0.3
v3.25.0.1
Goodwill and Other Intangible Assets (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2025
Jan. 31, 2024
Goodwill [Line Items]        
Goodwill, Beginning Balance     $ 7,649.9  
Goodwill impairment charge $ (794.3) $ 0.0 (794.3) $ 0.0
Divestitures     (277.4)  
Other     (8.5)  
Goodwill, Ending Balance 6,569.7   6,569.7  
Goodwill, Impaired, Accumulated Impairment Loss 1,037.2   1,037.2  
U.S. Retail Coffee        
Goodwill [Line Items]        
Goodwill, Beginning Balance     2,090.9  
Goodwill impairment charge     0.0  
Divestitures     0.0  
Other     0.0  
Goodwill, Ending Balance 2,090.9   2,090.9  
U.S. Retail Frozen Handheld and Spreads        
Goodwill [Line Items]        
Goodwill, Beginning Balance     1,139.9  
Goodwill impairment charge     0.0  
Divestitures     0.0  
Other     0.0  
Goodwill, Ending Balance 1,139.9   1,139.9  
U.S. Retail Pet Foods        
Goodwill [Line Items]        
Goodwill, Beginning Balance     1,580.2  
Goodwill impairment charge     0.0  
Divestitures     0.0  
Other     0.0  
Goodwill, Ending Balance 1,580.2   1,580.2  
Sweet Baked Snacks        
Goodwill [Line Items]        
Goodwill, Beginning Balance     2,447.2  
Goodwill impairment charge [1]     (794.3)  
Divestitures     (277.4)  
Other [2]     (0.4)  
Goodwill, Ending Balance 1,375.1   1,375.1  
International and Away From Home        
Goodwill [Line Items]        
Goodwill, Beginning Balance     391.7  
Goodwill impairment charge     0.0  
Divestitures     0.0  
Other [3]     (8.1)  
Goodwill, Ending Balance $ 383.6   $ 383.6  
[1] We have recognized accumulated goodwill impairment charges of $1,037.2 as of January 31, 2025.
[2] The amount classified as other in the Sweet Baked Snacks segment represents purchase accounting adjustments for the acquisition of Hostess Brands.
[3] The amount classified as other in the International and Away From Home segment represents foreign currency translation adjustments.
v3.25.0.1
Goodwill and Other Intangible Assets (Details 1) - USD ($)
$ in Millions
Jan. 31, 2025
Apr. 30, 2024
Finite-Lived Intangible Assets [Line Items]    
Finite-Lived Intangible Assets, Gross $ 4,895.9 $ 5,072.8
Accumulated Amortization, Impairment Charges And Foreign Currency Exchange Expense For Finite Lived Assets 2,324.1 2,166.5
Finite-Lived Intangible Assets, Net 2,571.8 2,906.3
Intangible Assets, Net (Excluding Goodwill) [Abstract]    
Intangible Assets, Gross (Excluding Goodwill) 9,267.9 9,645.5
Total Other Intangible Assets Accumulated Amortization Impairment Charges Foreign Currency Exchange 2,756.8 2,390.1
Intangible Assets, Net (Excluding Goodwill) 6,511.1 7,255.4
Trademarks    
Indefinite-Lived Intangible Assets [Line Items]    
TrademarksIndefinite-Lived Intangible Assets (Excluding Goodwill), Gross 4,372.0 4,572.7
Accumulated Amortization, Impairment Charges And Foreign Currency Exchange Expense For Indefinite Lived Assets 432.7 223.6
Indefinite-Lived Intangible Assets (Excluding Goodwill) 3,939.3 4,349.1
Customer and contractual relationships    
Finite-Lived Intangible Assets [Line Items]    
Finite-Lived Intangible Assets, Gross 4,596.5 4,766.7
Accumulated Amortization, Impairment Charges And Foreign Currency Exchange Expense For Finite Lived Assets 2,048.3 1,894.9
Finite-Lived Intangible Assets, Net 2,548.2 2,871.8
Patented Technology    
Finite-Lived Intangible Assets [Line Items]    
Finite-Lived Intangible Assets, Gross 163.0 163.0
Accumulated Amortization, Impairment Charges And Foreign Currency Exchange Expense For Finite Lived Assets 161.0 160.8
Finite-Lived Intangible Assets, Net 2.0 2.2
Trademarks    
Finite-Lived Intangible Assets [Line Items]    
Finite-Lived Intangible Assets, Gross 136.4 143.1
Accumulated Amortization, Impairment Charges And Foreign Currency Exchange Expense For Finite Lived Assets 114.8 110.8
Finite-Lived Intangible Assets, Net $ 21.6 $ 32.3
v3.25.0.1
Goodwill and Other Intangible Assets (Details Textual) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2025
Jan. 31, 2024
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]        
Goodwill impairment charge $ 794.3 $ 0.0 $ 794.3 $ 0.0
Asset Impairment Charges 1,000.0      
Other intangible assets impairment charge 208.2 $ 0.0 208.2 $ 0.0
Voortman        
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]        
Goodwill $ 251.1   $ 251.1  
v3.25.0.1
Debt and Financing Arrangements (Details) - USD ($)
$ in Millions
Jan. 31, 2025
Apr. 30, 2024
Long-term debt    
Debt instrument face amount $ 7,453.2 $ 7,850.0
Total long-term debt [1] 7,385.4 7,773.0
Current portion of long-term debt [1] 999.9 999.3
Long-term debt, less current portion [1] $ 6,385.5 $ 6,773.7
3.50% Senior Notes due March 15, 2025    
Long-term debt    
Interest rate on notes 3.50% 3.50%
Debt instrument face amount $ 1,000.0 $ 1,000.0
Senior Notes [1] $ 999.9 $ 999.3
3.38% Senior Notes due December 15, 2027    
Long-term debt    
Interest rate on notes 3.38% 3.38%
Debt instrument face amount $ 500.0 $ 500.0
Senior Notes [1] $ 498.8 $ 498.4
5.90% Senior Notes due November 15, 2028    
Long-term debt    
Interest rate on notes 5.90% 5.90%
Debt instrument face amount $ 750.0 $ 750.0
Senior Notes [1] $ 745.4 $ 744.5
2.38 % Senior Notes due March 15, 2030    
Long-term debt    
Interest rate on notes 2.38% 2.38%
Debt instrument face amount $ 500.0 $ 500.0
Senior Notes [1] $ 497.5 $ 497.2
2.13% Senior Notes due March 15, 2032    
Long-term debt    
Interest rate on notes 2.13% 2.13%
Debt instrument face amount $ 364.5 $ 500.0
Senior Notes [1] $ 361.2 $ 495.2
6.20% Senior Notes due November 15, 2033    
Long-term debt    
Interest rate on notes 6.20% 6.20%
Debt instrument face amount $ 1,000.0 $ 1,000.0
Senior Notes [1] $ 992.2 $ 991.5
4.25% Senior Notes due March 15, 2035    
Long-term debt    
Interest rate on notes 4.25% 4.25%
Debt instrument face amount $ 650.0 $ 650.0
Senior Notes [1] $ 645.8 $ 645.5
2.75% Senior Notes due September 15, 2041    
Long-term debt    
Interest rate on notes 2.75% 2.75%
Debt instrument face amount $ 177.5 $ 300.0
Senior Notes [1] $ 176.1 $ 297.4
6.50% Senior Notes due November 15, 2043    
Long-term debt    
Interest rate on notes 6.50% 6.50%
Debt instrument face amount $ 750.0 $ 750.0
Senior Notes [1] $ 737.0 $ 736.5
4.38% Senior Notes due March 15, 2045    
Long-term debt    
Interest rate on notes 4.38% 4.38%
Debt instrument face amount $ 600.0 $ 600.0
Senior Notes [1] $ 589.1 $ 588.7
3.55% Senior Notes due March 15, 2050    
Long-term debt    
Interest rate on notes 3.55% 3.55%
Debt instrument face amount $ 161.2 $ 300.0
Senior Notes [1] $ 159.3 $ 296.2
6.50% Senior Notes due November 15, 2053    
Long-term debt    
Interest rate on notes 6.50% 6.50%
Debt instrument face amount $ 1,000.0 $ 1,000.0
Senior Notes [1] 983.1 982.6
Current Portion Of Long Term Debt    
Long-term debt    
Debt instrument face amount 1,000.0 1,000.0
Total Long Term Debt Less Current Portion    
Long-term debt    
Debt instrument face amount $ 6,453.2 $ 6,850.0
[1] Represents the carrying amount included in the Condensed Consolidated Balance Sheets, which includes the impact of capitalized debt issuance costs, offering discounts, and terminated interest rate contracts.
v3.25.0.1
Debt and Financing Arrangements (Details Textual)
$ in Millions
 3 Months Ended 9 Months Ended 12 Months Ended
Jan. 31, 2025
USD ($)
Bank
Jan. 31, 2024
USD ($)
Jan. 31, 2025
USD ($)
Bank
Jan. 31, 2024
USD ($)
Apr. 30, 2024
USD ($)
Nov. 07, 2023
USD ($)
Oct. 31, 2023
USD ($)
Debt and Financing Arrangements (Textual) [Abstract]              
Debt instrument face amount $ 7,453.2   $ 7,453.2   $ 7,850.0    
Capitalized debt issuance costs     0.0 $ 32.1      
Short-term borrowings 461.9   461.9   591.0    
Interest paid 126.9 $ 20.6 341.8 94.2      
Repayments of long-term debt     300.0 1,441.0      
Other debt gains (charges) – net 30.3 0.0 30.3 (19.5)      
Loss (Gain) on Reverse Tresaury Lock     4.5        
Fees Paid to Execute Debt Extinguishment     1.1        
Debt Reacquisition Price     300.0        
Debt Instrument, Repurchased Face Amount 300.0   300.0        
Gain (Loss) on Extinguishment of Debt     30.3        
Debt Instrument, Repurchase Amount 335.9   335.9        
Commercial Paper [Member]              
Debt and Financing Arrangements (Textual) [Abstract]              
Commercial paper, borrowing capacity 2,000.0   2,000.0        
Short-term borrowings $ 462.0   $ 462.0   $ 591.0    
Short-term Debt, Weighted Average Interest Rate, at Point in Time 4.55%   4.55%   5.48%    
Commercial Paper [Member] | Hostess Brands              
Debt and Financing Arrangements (Textual) [Abstract]              
Short-term borrowings           $ 700.0  
Senior Notes              
Debt and Financing Arrangements (Textual) [Abstract]              
Capitalized debt issuance costs         $ 31.8    
Debt Instrument, Unamortized Discount         15.0    
Senior Notes | Hostess Brands              
Debt and Financing Arrangements (Textual) [Abstract]              
Debt instrument face amount   $ 3,500.0   3,500.0     $ 3,500.0
Revolving Credit Facility              
Debt and Financing Arrangements (Textual) [Abstract]              
Revolving credit facility maximum borrowing capacity $ 2,000.0   $ 2,000.0        
Number of banks | Bank 11   11        
Outstanding balance under revolving credit facility $ 0.0   $ 0.0   0.0    
Term Loan Credit Agreement | Hostess Brands              
Debt and Financing Arrangements (Textual) [Abstract]              
Debt Instrument, Unused Borrowing Capacity, Amount           $ 800.0  
Repayments of long-term debt         800.0    
Bridge Loan | Hostess Brands              
Debt and Financing Arrangements (Textual) [Abstract]              
Debt Instrument, Unused Borrowing Capacity, Amount 5,200.0   5,200.0        
Other debt gains (charges) – net       $ (19.5)      
Bridge Loan 0.0   0.0        
2.75% Senior Notes due September 15, 2041              
Debt and Financing Arrangements (Textual) [Abstract]              
Debt instrument face amount 177.5   177.5   300.0    
Early Repayment of Senior Debt     122.5        
Cash Tender Offer     122.5        
2.13% Senior Notes due March 15, 2032              
Debt and Financing Arrangements (Textual) [Abstract]              
Debt instrument face amount 364.5   364.5   500.0    
Early Repayment of Senior Debt     135.5        
Cash Tender Offer     194.1        
3.55% Senior Notes due March 15, 2050              
Debt and Financing Arrangements (Textual) [Abstract]              
Debt instrument face amount $ 161.2   161.2   $ 300.0    
Early Repayment of Senior Debt     138.8        
Cash Tender Offer     $ 138.8        
v3.25.0.1
Pensions and Other Postretirement Benefits (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2025
Jan. 31, 2024
Defined Benefit Pension Plans        
Components of net periodic benefit cost        
Service cost $ 0.1 $ 0.2 $ 0.5 $ 0.7
Interest cost 4.5 4.5 13.3 13.8
Expected return on plan assets (3.1) (4.0) (9.3) (12.2)
Amortization of net actuarial loss (gain) 1.1 1.0 3.3 2.7
Amortization of prior service cost (credit) 0.0 0.0 0.1 0.1
Settlement loss (gain)     0.0 3.2
Net periodic benefit cost 2.6 1.7 7.9 8.3
Other Postretirement Benefits        
Components of net periodic benefit cost        
Service cost 0.2 0.2 0.5 0.6
Interest cost 0.7 0.7 2.0 2.0
Expected return on plan assets 0.0 0.0 0.0 0.0
Amortization of net actuarial loss (gain) (0.5) (0.4) (1.5) (1.2)
Amortization of prior service cost (credit) (0.2) (0.1) (0.5) (0.4)
Settlement loss (gain)     0.0 0.0
Net periodic benefit cost $ 0.2 $ 0.4 $ 0.5 $ 1.0
v3.25.0.1
Pensions and Other Postretirement Benefits (Details Textual) - USD ($)
$ in Millions
 9 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Defined Benefit Plan Disclosure [Line Items]    
Defined Benefit Plan, Plan Assets, Contributions by Employer $ 1.0  
Defined Benefit Plan, Plan Assets, Benefits Paid 2.7 $ 2.8
Defined Benefit Pension Plans    
Defined Benefit Plan Disclosure [Line Items]    
Settlement loss (gain) $ 0.0 $ 3.2
v3.25.0.1
Derivative Financial Instruments (Details) - USD ($)
$ in Millions
Jan. 31, 2025
Apr. 30, 2024
Commodity contracts    
Outstanding derivative contracts    
Derivative notional amount 1,534.4 787.7
Foreign currency exchange contracts    
Outstanding derivative contracts    
Derivative notional amount 98.0 98.6
v3.25.0.1
Derivative Financial Instruments (Details 1) - USD ($)
$ in Millions
Jan. 31, 2025
Apr. 30, 2024
Other Current Assets [Member]    
Fair value of derivative instruments [Line Items]    
Derivatives Instruments, Assets $ 61.4 $ 37.7
Other Current Liabilities [Member]    
Fair value of derivative instruments [Line Items]    
Derivatives Instruments, Liabilities 36.6 9.4
Other Noncurrent Assets [Member]    
Fair value of derivative instruments [Line Items]    
Derivatives Instruments, Assets 0.2 0.0
Other Noncurrent Liabilities [Member]    
Fair value of derivative instruments [Line Items]    
Derivatives Instruments, Liabilities 0.0 0.1
Commodity contracts | Other Current Assets [Member] | Not designated as hedging instruments [Member]    
Fair value of derivative instruments [Line Items]    
Derivatives Instruments, Assets 57.0 35.8
Commodity contracts | Other Current Liabilities [Member] | Not designated as hedging instruments [Member]    
Fair value of derivative instruments [Line Items]    
Derivatives Instruments, Liabilities 36.6 9.3
Commodity contracts | Other Noncurrent Assets [Member] | Not designated as hedging instruments [Member]    
Fair value of derivative instruments [Line Items]    
Derivatives Instruments, Assets 0.0 0.0
Commodity contracts | Other Noncurrent Liabilities [Member] | Not designated as hedging instruments [Member]    
Fair value of derivative instruments [Line Items]    
Derivatives Instruments, Liabilities 0.0 0.1
Foreign currency exchange contracts | Other Current Assets [Member] | Not designated as hedging instruments [Member]    
Fair value of derivative instruments [Line Items]    
Derivatives Instruments, Assets 4.4 1.9
Foreign currency exchange contracts | Other Current Liabilities [Member] | Not designated as hedging instruments [Member]    
Fair value of derivative instruments [Line Items]    
Derivatives Instruments, Liabilities 0.0 0.1
Foreign currency exchange contracts | Other Noncurrent Assets [Member] | Not designated as hedging instruments [Member]    
Fair value of derivative instruments [Line Items]    
Derivatives Instruments, Assets 0.2 0.0
Foreign currency exchange contracts | Other Noncurrent Liabilities [Member] | Not designated as hedging instruments [Member]    
Fair value of derivative instruments [Line Items]    
Derivatives Instruments, Liabilities $ 0.0 $ 0.0
v3.25.0.1
Derivative Financial Instruments (Details 2) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2025
Jan. 31, 2024
Gains and losses recognized in cost of products sold on derivatives not designated as qualified hedging instruments        
Total derivative gains (losses) recognized in costs of products sold $ 63.9 $ (9.4) $ 56.2 $ (4.0)
Commodity contracts        
Gains and losses recognized in cost of products sold on derivatives not designated as qualified hedging instruments        
Total derivative gains (losses) recognized in costs of products sold 60.1 (6.1) 50.7 (3.3)
Foreign currency exchange contracts        
Gains and losses recognized in cost of products sold on derivatives not designated as qualified hedging instruments        
Total derivative gains (losses) recognized in costs of products sold $ 3.8 $ (3.3) $ 5.5 $ (0.7)
v3.25.0.1
Derivative Financial Instruments (Details 3) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2025
Jan. 31, 2024
Price Risk Derivatives [Abstract]        
Net derivative gains (losses) recognized and classified as unallocated $ 63.9 $ (9.4) $ 56.2 $ (4.0)
Less: Net derivatives gains (losses) reclassified to segment operating profit 3.9 (4.2) 14.5 17.1
Change in net cumulative unallocated derivative gains and losses $ 60.0 $ (5.2) $ 41.7 $ (21.1)
v3.25.0.1
Derivative Financial Instruments (Details 4) - Cash Flow Hedging [Member] - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2025
Jan. 31, 2024
Derivative Instruments, Gain (Loss) [Line Items]        
Gains (losses) recognized in other comprehensive income (loss) $ 0.0 $ 0.0 $ 0.0 $ 0.0
Change in accumulated other comprehensive income (loss) 59.9 3.3 66.7 10.1
Interest Expense [Member]        
Derivative Instruments, Gain (Loss) [Line Items]        
Gains (losses) reclassified from accumulated other comprehensive income (loss) [1] (3.0) (3.3) (9.8) (10.1)
Other Debt Costs        
Derivative Instruments, Gain (Loss) [Line Items]        
Gains (losses) reclassified from accumulated other comprehensive income (loss) [2] $ (56.9) $ 0.0 $ (56.9) $ 0.0
[1] Interest expense – net, as presented in the Condensed Statements of Consolidated Income was $95.4 and $99.8 for the three months ended January 31, 2025 and 2024, respectively, and $294.5 and $167.0 for the nine months ended January 31, 2025 and 2024, respectively. The reclassification includes terminated contracts which were designated as cash flow hedges.
[2] Other debt gains (charges) – net, as presented in the Condensed Statement of Consolidated Income was $30.3 for the three and nine months ended January 31, 2025. The reclassification is related to the debt extinguishment due to the tender offers, as discussed in Note 9: Debt and Financing Arrangements
v3.25.0.1
Derivative Financial Instruments (Details Textual) - USD ($)
shares in Millions, $ in Millions
 3 Months Ended 9 Months Ended
Nov. 15, 2023
Apr. 28, 2023
Jan. 31, 2025
Jul. 31, 2024
Jan. 31, 2024
Jul. 31, 2020
Jan. 31, 2025
Jan. 31, 2024
Apr. 30, 2024
Derivative Financial Instruments (Textual) [Abstract]                  
Loss (Gain) on Reverse Tresaury Lock             $ 4.5    
Collateral pledged     $ 8.5       8.5    
Collateral received                 $ 1.9
Cumulative net mark-to-market valuation of certain derivative positions recognized in unallocated derivative gains (losses)       $ 22.6     (64.3)    
Settlement of interest rate contracts             0.0 $ 42.5  
Interest expense – net     (95.4)   $ (99.8)   (294.5) (167.0)  
Other debt gains (charges) – net     $ 30.3   0.0   30.3 $ (19.5)  
Post Holdings Inc. | Pet Food Brands [Member]                  
Derivative Financial Instruments (Textual) [Abstract]                  
Proceeds from divestitures - equity   5.4              
Proceeds from investment in equity securities $ 466.3                
Derivative, Gain (Loss) on Derivative, Net       $ 5.4 $ 28.2   $ 5.4    
Commodity contracts                  
Derivative Financial Instruments (Textual) [Abstract]                  
Derivative instrument maturity     1 year       1 year    
Foreign currency exchange contracts                  
Derivative Financial Instruments (Textual) [Abstract]                  
Derivative instrument maturity     1 year       1 year    
Interest rate contracts                  
Derivative Financial Instruments (Textual) [Abstract]                  
Deferred pre-tax net gain (loss) included in accumulated other comprehensive loss           $ (239.8)      
Deferred Gain (Loss) on Cash Flow Hedges Included in Accumulated Other Comprehensive Income or Loss     $ 120.4       $ 120.4   (187.1)
Tax impact related to deferred losses and gains on cash flow hedges included in accumulated other comprehensive loss     $ 28.3       28.3   $ 44.0
Effective portion of the hedge loss reclassified to interest expense over the next twelve months             $ (12.5)    
v3.25.0.1
Other Financial Instruments and Fair Value Measurements (Details) - USD ($)
$ in Millions
Jan. 31, 2025
Apr. 30, 2024
Carrying amount and fair value of financial instruments    
Total long-term debt [1] $ (7,385.4) $ (7,773.0)
Carrying Amount [Member]    
Carrying amount and fair value of financial instruments    
Marketable securities and other investments 21.2 22.1
Derivative financial instruments – net 25.0 28.2
Total long-term debt (7,385.4) (7,773.0)
Fair Value [Member]    
Carrying amount and fair value of financial instruments    
Marketable securities and other investments 21.2 22.1
Derivative financial instruments – net 25.0 28.2
Total long-term debt $ (7,514.1) $ (7,652.9)
[1] Represents the carrying amount included in the Condensed Consolidated Balance Sheets, which includes the impact of capitalized debt issuance costs, offering discounts, and terminated interest rate contracts.
v3.25.0.1
Other Financial Instruments and Fair Value Measurements (Details 1) - Fair value measurements recurring [Member] - USD ($)
$ in Millions
Jan. 31, 2025
Apr. 30, 2024
Financial assets (liabilities) measured at fair value on a recurring basis    
Total long-term debt [1] $ (7,514.1) $ (7,652.9)
Total financial instruments measured at fair value (7,467.9) (7,602.6)
Equity mutual funds    
Financial assets (liabilities) measured at fair value on a recurring basis    
Marketable securities and other investments [2] 4.2 4.5
Municipal obligations    
Financial assets (liabilities) measured at fair value on a recurring basis    
Marketable securities and other investments [2] 15.9 17.2
Money market funds    
Financial assets (liabilities) measured at fair value on a recurring basis    
Marketable securities and other investments [2] 1.1 0.4
Commodity contracts - net    
Financial assets (liabilities) measured at fair value on a recurring basis    
Derivative financial instruments [3] 20.4 26.4
Foreign currency exchange contracts - net    
Financial assets (liabilities) measured at fair value on a recurring basis    
Derivative financial instruments [3] 4.6 1.8
Fair Value, Inputs, Level 1 [Member]    
Financial assets (liabilities) measured at fair value on a recurring basis    
Total long-term debt [1] (7,514.1) (7,652.9)
Total financial instruments measured at fair value (7,488.3) (7,620.8)
Fair Value, Inputs, Level 1 [Member] | Equity mutual funds    
Financial assets (liabilities) measured at fair value on a recurring basis    
Marketable securities and other investments [2] 4.2 4.5
Fair Value, Inputs, Level 1 [Member] | Municipal obligations    
Financial assets (liabilities) measured at fair value on a recurring basis    
Marketable securities and other investments [2] 0.0 0.0
Fair Value, Inputs, Level 1 [Member] | Money market funds    
Financial assets (liabilities) measured at fair value on a recurring basis    
Marketable securities and other investments [2] 1.1 0.4
Fair Value, Inputs, Level 1 [Member] | Commodity contracts - net    
Financial assets (liabilities) measured at fair value on a recurring basis    
Derivative financial instruments [3] 20.4 26.7
Fair Value, Inputs, Level 1 [Member] | Foreign currency exchange contracts - net    
Financial assets (liabilities) measured at fair value on a recurring basis    
Derivative financial instruments [3] 0.1 0.5
Fair Value, Inputs, Level 2 [Member]    
Financial assets (liabilities) measured at fair value on a recurring basis    
Total long-term debt [1] 0.0 0.0
Total financial instruments measured at fair value 20.4 18.2
Fair Value, Inputs, Level 2 [Member] | Equity mutual funds    
Financial assets (liabilities) measured at fair value on a recurring basis    
Marketable securities and other investments [2] 0.0 0.0
Fair Value, Inputs, Level 2 [Member] | Municipal obligations    
Financial assets (liabilities) measured at fair value on a recurring basis    
Marketable securities and other investments [2] 15.9 17.2
Fair Value, Inputs, Level 2 [Member] | Money market funds    
Financial assets (liabilities) measured at fair value on a recurring basis    
Marketable securities and other investments [2] 0.0 0.0
Fair Value, Inputs, Level 2 [Member] | Commodity contracts - net    
Financial assets (liabilities) measured at fair value on a recurring basis    
Derivative financial instruments [3] 0.0 (0.3)
Fair Value, Inputs, Level 2 [Member] | Foreign currency exchange contracts - net    
Financial assets (liabilities) measured at fair value on a recurring basis    
Derivative financial instruments [3] 4.5 1.3
Fair Value, Inputs, Level 3 [Member]    
Financial assets (liabilities) measured at fair value on a recurring basis    
Total long-term debt [1] 0.0 0.0
Total financial instruments measured at fair value 0.0 0.0
Fair Value, Inputs, Level 3 [Member] | Equity mutual funds    
Financial assets (liabilities) measured at fair value on a recurring basis    
Marketable securities and other investments [2] 0.0 0.0
Fair Value, Inputs, Level 3 [Member] | Municipal obligations    
Financial assets (liabilities) measured at fair value on a recurring basis    
Marketable securities and other investments [2] 0.0 0.0
Fair Value, Inputs, Level 3 [Member] | Money market funds    
Financial assets (liabilities) measured at fair value on a recurring basis    
Marketable securities and other investments [2] 0.0 0.0
Fair Value, Inputs, Level 3 [Member] | Commodity contracts - net    
Financial assets (liabilities) measured at fair value on a recurring basis    
Derivative financial instruments [3] 0.0 0.0
Fair Value, Inputs, Level 3 [Member] | Foreign currency exchange contracts - net    
Financial assets (liabilities) measured at fair value on a recurring basis    
Derivative financial instruments [3] $ 0.0 $ 0.0
[1] Long-term debt is composed of public Senior Notes, which are traded in an active secondary market and valued using quoted prices. For additional information, see Note 9: Debt and Financing Arrangements.
[2] Marketable securities and other investments consist of funds maintained for the payment of benefits associated with nonqualified retirement plans. The funds include equity securities listed in active markets, municipal obligations valued by a third-party using valuation techniques that utilize inputs that are derived principally from or corroborated by observable market data, and money market funds with maturities of three months or less. Based on the short-term nature of these money market funds, carrying value approximates fair value. As of January 31, 2025, our municipal obligations are scheduled to mature as follows: $0.2 in 2025, $0.8 in 2026, $3.9 in 2027, $0.4 in 2028, $3.3 in 2029, and the remaining $7.3 in 2030 and beyond.
[3] Level 1 commodity and foreign currency exchange derivatives are valued using quoted market prices for identical instruments in active markets. Level 2 commodity and foreign currency exchange derivatives are valued using quoted prices for similar assets or liabilities in active markets. For additional information, see Note 11: Derivative Financial Instruments.
v3.25.0.1
Other Financial Instruments and Fair Value Measurements (Details Textual) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Jan. 31, 2025
Oct. 31, 2024
Jan. 31, 2024
Jan. 31, 2025
Jan. 31, 2024
Other Financial Instruments and Fair Value Measurements (Textual) [Abstract]          
Company's Municipal bond mature in 2025 $ 0.2     $ 0.2  
Company's Municipal bond mature in 2026 0.8     0.8  
Company's Municipal bond mature in 2027 3.9     3.9  
Company's Municipal bond mature in 2028 0.4     0.4  
Company's Municipal bond mature in 2029 3.3     3.3  
Company's Municipal bond mature in 2030 and beyond 7.3     7.3  
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Asset Impairment Charges 1,000.0        
Goodwill impairment charge 794.3   $ 0.0 794.3 $ 0.0
Other intangible assets impairment charge 208.2   0.0 208.2 0.0
Loss (gain) on divestitures – net 50.2   $ 0.3 311.0 $ 12.9
Voortman          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Goodwill 251.1     251.1  
Loss (gain) on divestitures – net   $ 260.8   268.4  
Sweet Baked Snacks Value Brands          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Valuation Allowance 42.6     42.6  
Goodwill $ 26.3     26.3  
Loss (gain) on divestitures – net       $ 42.6  
v3.25.0.1
Leases (Details) - USD ($)
$ in Millions
Jan. 31, 2025
Apr. 30, 2024
Leases [Abstract]    
Operating lease right-of-use assets $ 121.4 $ 174.6
Current operating lease liabilities $ 38.0 $ 40.5
Operating lease current liabilities balance sheet location Other Liabilities, Current Other Liabilities, Current
Noncurrent operating lease liabilities $ 89.8 $ 143.5
Total operating lease liabilities 127.8 184.0
Machinery and equipment 22.8 18.7
Accumulated depreciation (12.1) (8.0)
Total property, plant, and equipment $ 10.7 $ 10.7
Finance lease right-of-use assets balance sheet location Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment, Machinery and Equipment, Gross, Property, Plant and Equipment, Net Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment, Machinery and Equipment, Gross, Property, Plant and Equipment, Net
Other current liabilities $ 3.1 $ 2.8
Finance lease current liabilities balance sheet location Other Liabilities, Current Other Liabilities, Current
Other noncurrent liabilities $ 8.1 $ 8.3
Finance lease noncurrent liabilities balance sheet location Other Liabilities, Noncurrent Other Liabilities, Noncurrent
Total finance lease liabilities $ 11.2 $ 11.1
Total finance lease liabilities balance sheet location Liabilities Liabilities
v3.25.0.1
Leases (Details 1) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2025
Jan. 31, 2024
Leases [Abstract]        
Operating lease cost $ 11.0 $ 13.1 $ 35.5 $ 37.0
Finance lease cost:        
Amortization of right-of-use assets 0.9 0.7 2.5 2.7
Interest on lease liabilities 0.2 0.1 0.5 0.4
Variable lease cost 3.9 6.4 16.2 17.6
Short-term lease cost 9.4 11.8 33.3 32.4
Total lease cost [1] $ 25.4 $ 32.1 $ 88.0 $ 90.1
[1] Total lease cost does not include sublease income which is immaterial for all years presented.
v3.25.0.1
Leases (Details 2) - USD ($)
$ in Millions
 9 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Leases [Abstract]    
Operating cash flows from operating leases $ 36.5 $ 36.9
Operating cash flows from finance leases 0.4 0.4
Financing cash flows from finance leases 2.6 2.6
Right-of-use asset obtained in exchange for operating lease liabilities 8.7 91.9
Right-of-use asset obtained in exchange for finance lease liabilities $ 2.6 $ 8.0
v3.25.0.1
Leases (Details 3) - USD ($)
$ in Millions
Jan. 31, 2025
Apr. 30, 2024
Operating Lease Liabilities, Payments Due [Abstract]    
2025 (remainder of the year) $ 10.6  
2026 41.2  
2027 21.4  
2028 12.3  
2029 10.9  
2030 and beyond 52.9  
Total undiscounted minimum lease payments 149.3  
Less: Imputed interest 21.5  
Total operating lease liabilities 127.8  
Finance Lease Liabilities, Payments, Due [Abstract]    
2025 (remainder of the year) 0.9  
2026 3.4  
2027 3.1  
2028 2.9  
2029 1.5  
2030 and beyond 0.5  
Total undiscounted minimum lease payments 12.3  
Less: Imputed interest 1.1  
Total finance lease liabilities $ 11.2 $ 11.1
v3.25.0.1
Leases (Details 4)
Jan. 31, 2025
Apr. 30, 2024
Leases [Abstract]    
Operating leases, Weighted average remaining lease term 6 years 1 month 6 days 6 years 2 months 12 days
Finance leases, Weighted average remaining lease term 3 years 9 months 18 days 4 years 3 months 18 days
Operating leases, Weighted average discount rate 4.60% 4.30%
Finance leases, Weighted average discount rate 5.00% 4.80%
v3.25.0.1
Income Taxes (Details Textual) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2025
Jan. 31, 2024
Income Tax Disclosure [Abstract]        
Increase (Decrease) in Income Taxes $ 75.3   $ 32.3  
Increase (Decrease) in Income Taxes, Percent 100.00%   18.00%  
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent 21.00% 21.00% 21.00% 21.00%
Income Taxes (Textual) [Abstract]        
Time Period Over Which it is Reasonably Possible That Company Could Increase or Decrease its Unrecognized Tax Benefits     12 months  
Amount unrecognized tax benefit could decrease in the next 12 months $ 0.8   $ 0.8  
v3.25.0.1
Accumulated Other Comprehensive Income (Loss) (Details) - USD ($)
$ in Millions
 9 Months Ended
Jan. 31, 2025
Jan. 31, 2024
AOCI Attributable to Parent, Net of Tax [Roll Forward]    
Accumulated Other Comprehensive Income (Loss), Beginning Balance $ (234.6)  
Accumulated Other Comprehensive Income (Loss), Ending Balance (197.3)  
Foreign Currency Translation Adjustment [Member]    
AOCI Attributable to Parent, Net of Tax [Roll Forward]    
Accumulated Other Comprehensive Income (Loss), Beginning Balance (39.2) $ (34.3)
Reclassification adjustments 0.0 0.0
Current period credit (charge) (14.3) 2.4
Income tax benefit (expense) 0.0 0.0
Accumulated Other Comprehensive Income (Loss), Ending Balance (53.5) (31.9)
Net Gains (Losses) on Cash Flow Hedging Derivatives [Member]    
AOCI Attributable to Parent, Net of Tax [Roll Forward]    
Accumulated Other Comprehensive Income (Loss), Beginning Balance [1] (143.1) (153.6)
Reclassification adjustments [1] 66.7 10.1
Current period credit (charge) [1] 0.0 0.0
Income tax benefit (expense) [1] (15.7) (1.9)
Accumulated Other Comprehensive Income (Loss), Ending Balance [1] (92.1) (145.4)
Pension and Other Postretirement Liabilities [Member]    
AOCI Attributable to Parent, Net of Tax [Roll Forward]    
Accumulated Other Comprehensive Income (Loss), Beginning Balance [2] (53.4) (52.7)
Reclassification adjustments [2] 1.4 4.4
Current period credit (charge) [2] 0.0 (3.2)
Income tax benefit (expense) [2] (0.4) (0.2)
Accumulated Other Comprehensive Income (Loss), Ending Balance [2] (52.4) (51.7)
Unrealized Gain (Loss) on Available-for-Sale Securities [Member]    
AOCI Attributable to Parent, Net of Tax [Roll Forward]    
Accumulated Other Comprehensive Income (Loss), Beginning Balance 1.1 1.4
Reclassification adjustments 0.0 0.0
Current period credit (charge) (0.5) 0.3
Income tax benefit (expense) 0.1 (0.1)
Accumulated Other Comprehensive Income (Loss), Ending Balance 0.7 1.6
AOCI Attributable to Parent [Member]    
AOCI Attributable to Parent, Net of Tax [Roll Forward]    
Accumulated Other Comprehensive Income (Loss), Beginning Balance (234.6) (239.2)
Reclassification adjustments 68.1 14.5
Current period credit (charge) (14.8) (0.5)
Income tax benefit (expense) (16.0) (2.2)
Accumulated Other Comprehensive Income (Loss), Ending Balance $ (197.3) $ (227.4)
[1] The reclassification from accumulated other comprehensive income (loss) is primarily composed of deferred gains (losses) related to terminated interest rate contracts which were reclassified to interest expense – net. In addition, a portion of the reclassification in 2025 was reclassified to other debt gains (charges) – net resulting from the extinguishment of debt from the tender offers. For additional information, see Note 11: Derivative Financial Instruments and Note 9: Debt and Financing Arrangements.
[2] The reclassification from accumulated other comprehensive income (loss) to other income (expense) – net is composed of settlement charges and amortization of net losses and prior service costs. For additional information, see Note 10: Pensions and Other Postretirement Benefits.
v3.25.0.1
Contingencies (Details Textual) - Voortman Contingency - CAD ($)
$ in Millions
 3 Months Ended
Nov. 03, 2022
Sep. 30, 2022
Gain Contingencies [Line Items]    
Proceeds from legal settlements   $ 42.5
Damages sought $ 109.0  
Punitive or aggravated damages, interest, proceedings fees and any other relief sought $ 5.0  
v3.25.0.1
Common Shares (Details) - shares
shares in Millions
Jan. 31, 2025
Apr. 30, 2024
Common Shares Information    
Common shares authorized 300.0 300.0
Common shares outstanding 106.4 106.2
Treasury shares outstanding 44.1 44.3
v3.25.0.1
Common Shares (Details Textual) - USD ($)
$ / shares in Units, $ in Millions
 9 Months Ended
Nov. 07, 2023
Jan. 31, 2025
Jan. 31, 2024
Sep. 08, 2023
Apr. 30, 2023
Mar. 02, 2023
Equity, Class of Treasury Stock [Line Items]            
Payments to repurchase shares   $ 3.1 $ 372.5      
Board Authorized Repurchased Plan            
Equity, Class of Treasury Stock [Line Items]            
Shares repurchased   0 2,400,000      
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased   1,100,000     3,500,000  
Shares authorized to be repurchased under stock repurchase program           2,400,000
Payments to repurchase shares     $ 362.8      
Sales and Excise Tax Payable     $ 3.6      
Share Repurchase Program, Excise Tax   $ 6.7        
Hostess Brands            
Acquisition [Line Items]            
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares 4,000,000.0          
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned $ 450.2          
Business Acquisition, Equity Interest Issued or Issuable, Price Per Share Paid       $ 30.00    
Business Acquisition, Equity Interest Issued or Issuable, Fraction of Common Shares Issued       0.03002    
Business Acquisition, Equity Interest Issued or Issuable, Value of Price Per Share Paid       $ 4.25    
v3.25.0.1
Supplier Financing Program (Details Textual) - USD ($)
$ in Millions
 9 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Apr. 30, 2024
Supplier Finance Program [Line Items]      
Supplier Finance Program, Obligation $ 315.1   $ 384.9
Supplier Finance Program, Obligation, Statement of Financial Position [Extensible Enumeration] Accounts Payable, Current   Accounts Payable, Current
Supplier Finance Program, Obligation, Settlement $ 1,211.9 $ 1,280.6  
Minimum      
Supplier Finance Program [Line Items]      
Supplier Finance Program, Payment Timing, Period 0 days    
Maximum      
Supplier Finance Program [Line Items]      
Supplier Finance Program, Payment Timing, Period 180 days