TREEHOUSE FOODS, INC., 10-Q filed on 8/6/2020
Quarterly Report
v3.20.2
Cover Page - shares
 6 Months Ended
Jun. 30, 2020
Jul. 31, 2020
Cover [Abstract]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Jun. 30, 2020  
Document Transition Report false  
Entity File Number 001-32504  
Entity Registrant Name TreeHouse Foods, Inc.  
Entity Incorporation, State or Country Code DE  
Entity Tax Identification Number 20-2311383  
Entity Address, Address Line One 2021 Spring Road, Suite 600  
Entity Address, City or Town Oak Brook  
Entity Address, State or Province IL  
Entity Address, Postal Zip Code 60523  
City Area Code 708  
Local Phone Number 483-1300  
Title of 12(b) Security Common Stock, $0.01 par value  
Trading Symbol THS  
Security Exchange Name NYSE  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   56,499,463
Amendment Flag false  
Document Fiscal Year Focus 2020  
Document Fiscal Period Focus Q2  
Entity Central Index Key 0001320695  
Current Fiscal Year End Date --12-31  
v3.20.2
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Millions
Jun. 30, 2020
Dec. 31, 2019
Current assets:    
Cash and cash equivalents $ 293.9 $ 202.3
Receivables, net 265.1 270.6
Inventories 629.4 544.0
Prepaid expenses and other current assets 94.1 44.5
Assets held for sale 0.0 27.0
Assets of discontinued operations 122.7 131.1
Total current assets 1,405.2 1,219.5
Property, plant, and equipment, net 1,014.3 1,045.2
Operating lease right-of-use assets 161.6 175.3
Goodwill 2,102.1 2,107.3
Intangible assets, net 524.8 554.7
Other assets, net 34.0 37.4
Total assets 5,242.0 5,139.4
Current liabilities:    
Accounts payable 558.4 508.4
Accrued expenses 370.6 273.2
Current portion of long-term debt 15.4 15.3
Liabilities of discontinued operations 7.3 16.5
Total current liabilities 951.7 813.4
Long-term debt 2,086.6 2,091.7
Operating lease liabilities 145.1 158.5
Deferred income taxes 123.2 101.5
Other long-term liabilities 131.7 143.4
Total liabilities 3,438.3 3,308.5
Commitments and contingencies (Note 14)
Stockholders’ equity:    
Preferred stock, par value $0.01 per share, 10.0 shares authorized, none issued 0.0 0.0
Common stock, par value $0.01 per share, 90.0 shares authorized, 56.5 and 56.2 shares issued and outstanding, respectively 0.6 0.6
Treasury stock (83.3) (83.3)
Additional paid-in capital 2,168.4 2,154.6
Accumulated deficit (189.7) (157.0)
Accumulated other comprehensive loss (92.3) (84.0)
Total stockholders’ equity 1,803.7 1,830.9
Total liabilities and stockholders’ equity $ 5,242.0 $ 5,139.4
v3.20.2
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares
Jun. 30, 2020
Dec. 31, 2019
Statement of Financial Position [Abstract]    
Preferred stock, par value (in usd per share) $ 0.01 $ 0.01
Preferred stock, shares authorized (in shares) 10,000,000 10,000,000
Preferred stock, shares issued (in shares) 0 0
Common stock, par value (in usd per share) $ 0.01 $ 0.01
Common stock, shares authorized (in shares) 90,000,000 90,000,000
Common stock, shares issued (in shares) 56,500,000 56,200,000
Common stock, shares outstanding (in shares) 56,500,000 56,200,000
v3.20.2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
shares in Millions, $ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Income Statement [Abstract]        
Net sales $ 1,041.9 $ 1,025.3 $ 2,126.8 $ 2,092.1
Cost of sales 850.7 836.1 1,740.7 1,706.7
Gross profit 191.2 189.2 386.1 385.4
Operating expenses:        
Selling and distribution 63.0 59.8 128.1 130.0
General and administrative 73.7 86.1 137.3 148.4
Amortization expense 17.4 18.6 34.9 38.7
Other operating expense, net 11.8 32.6 30.3 60.7
Total operating expenses 165.9 197.1 330.6 377.8
Operating income (loss) 25.3 (7.9) 55.5 7.6
Other expense:        
Interest expense 26.2 26.1 51.0 51.2
(Gain) loss on foreign currency exchange (6.5) (1.3) 7.9 (1.7)
Other (income) expense, net (5.6) 24.2 58.4 36.4
Total other expense 14.1 49.0 117.3 85.9
Income (loss) before income taxes 11.2 (56.9) (61.8) (78.3)
Income tax expense (benefit) 13.8 (6.8) (26.4) (13.7)
Net loss from continuing operations (2.6) (50.1) (35.4) (64.6)
Net income (loss) from discontinued operations 1.1 (121.7) 2.7 (134.1)
Net loss $ (1.5) $ (171.8) $ (32.7) $ (198.7)
Earnings (loss) per common share - basic:        
Continuing operations (in usd per share) $ (0.05) $ (0.89) $ (0.63) $ (1.15)
Discontinued operations (in usd per share) 0.02 (2.16) 0.05 (2.39)
Earnings (loss) per share basic (in usd per share) [1] (0.03) (3.05) (0.58) (3.54)
Earnings (loss) per common share - diluted:        
Continuing operations (in usd per share) (0.05) (0.89) (0.63) (1.15)
Discontinued operations (in usd per share) 0.02 (2.16) 0.05 (2.39)
Earnings (loss) per share diluted (in usd per share) [1] $ (0.03) $ (3.05) $ (0.58) $ (3.54)
Weighted average common shares:        
Basic (in shares) 56.5 56.3 56.4 56.2
Diluted (in shares) 56.5 56.3 56.4 56.2
[1]
The sum of the individual per share amounts may not add due to rounding.
v3.20.2
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Statement of Comprehensive Income [Abstract]        
Net loss $ (1.5) $ (171.8) $ (32.7) $ (198.7)
Other comprehensive income (loss):        
Foreign currency translation adjustments 7.4 7.2 (8.5) 14.0
Pension and postretirement reclassification adjustment 0.1 0.2 0.2 0.3
Other comprehensive income (loss) 7.5 7.4 (8.3) 14.3
Comprehensive income (loss) $ 6.0 $ (164.4) $ (41.0) $ (184.4)
v3.20.2
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Unaudited) - USD ($)
shares in Millions, $ in Millions
Total
Common Stock
Additional Paid-in Capital
Retained Earnings (Accumulated Deficit)
Treasury Stock
Accumulated Other Comprehensive Loss
Beginning balance (in shares) at Dec. 31, 2018   57.8     1.8  
Beginning balance at Dec. 31, 2018 $ 2,160.0 $ 0.6 $ 2,135.8 $ 204.0 $ (83.3) $ (97.1)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net loss (26.9)     (26.9)    
Other comprehensive income (loss) 6.9         6.9
Equity awards exercised (in shares)   0.2        
Equity awards exercised (4.4)   (4.4)      
Stock-based compensation 6.1   6.1      
Ending balance (in shares) at Mar. 31, 2019   58.0     1.8  
Ending balance at Mar. 31, 2019 2,141.7 $ 0.6 2,137.5 177.1 $ (83.3) (90.2)
Beginning balance (in shares) at Dec. 31, 2018   57.8     1.8  
Beginning balance at Dec. 31, 2018 2,160.0 $ 0.6 2,135.8 204.0 $ (83.3) (97.1)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net loss (198.7)          
Other comprehensive income (loss) 14.3          
Ending balance (in shares) at Jun. 30, 2019   58.0     1.8  
Ending balance at Jun. 30, 2019 1,983.3 $ 0.6 2,143.5 5.3 $ (83.3) (82.8)
Beginning balance (in shares) at Mar. 31, 2019   58.0     1.8  
Beginning balance at Mar. 31, 2019 2,141.7 $ 0.6 2,137.5 177.1 $ (83.3) (90.2)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net loss (171.8)     (171.8)    
Other comprehensive income (loss) 7.4         7.4
Equity awards exercised (0.7)   (0.7)      
Stock-based compensation 6.7   6.7      
Ending balance (in shares) at Jun. 30, 2019   58.0     1.8  
Ending balance at Jun. 30, 2019 1,983.3 $ 0.6 2,143.5 5.3 $ (83.3) (82.8)
Beginning balance (in shares) at Dec. 31, 2019   58.0     1.8  
Beginning balance at Dec. 31, 2019 1,830.9 $ 0.6 2,154.6 (157.0) $ (83.3) (84.0)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net loss (31.2)     (31.2)    
Other comprehensive income (loss) (15.8)         (15.8)
Equity awards exercised (in shares)   0.2        
Equity awards exercised (3.9)   (3.9)      
Stock-based compensation 8.1   8.1      
Ending balance (in shares) at Mar. 31, 2020   58.2     1.8  
Ending balance at Mar. 31, 2020 1,788.1 $ 0.6 2,158.8 (188.2) $ (83.3) (99.8)
Beginning balance (in shares) at Dec. 31, 2019   58.0     1.8  
Beginning balance at Dec. 31, 2019 1,830.9 $ 0.6 2,154.6 (157.0) $ (83.3) (84.0)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net loss (32.7)          
Other comprehensive income (loss) (8.3)          
Ending balance (in shares) at Jun. 30, 2020   58.3     1.8  
Ending balance at Jun. 30, 2020 1,803.7 $ 0.6 2,168.4 (189.7) $ (83.3) (92.3)
Beginning balance (in shares) at Mar. 31, 2020   58.2     1.8  
Beginning balance at Mar. 31, 2020 1,788.1 $ 0.6 2,158.8 (188.2) $ (83.3) (99.8)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net loss (1.5)     (1.5)    
Other comprehensive income (loss) 7.5         7.5
Equity awards exercised (in shares)   0.1        
Equity awards exercised 2.5   2.5      
Stock-based compensation 7.1   7.1      
Ending balance (in shares) at Jun. 30, 2020   58.3     1.8  
Ending balance at Jun. 30, 2020 $ 1,803.7 $ 0.6 $ 2,168.4 $ (189.7) $ (83.3) $ (92.3)
v3.20.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities:    
Net loss $ (32.7) $ (198.7)
Net income (loss) from discontinued operations 2.7 (134.1)
Net (loss) income from continuing operations (35.4) (64.6)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization 99.4 106.5
Stock-based compensation 14.9 12.0
Unrealized loss on derivative contracts 59.8 41.2
Deferred income taxes 21.9 0.1
Other 12.0 (0.7)
Changes in operating assets and liabilities:    
Receivables 4.8 49.8
Inventories (84.4) (79.2)
Prepaid expenses and other assets (59.7) (28.7)
Accounts payable 58.1 (63.4)
Accrued expenses and other liabilities 31.9 (16.5)
Net cash provided by (used in) operating activities - continuing operations 123.3 (43.5)
Net cash provided by operating activities - discontinued operations 0.5 52.9
Net cash provided by operating activities 123.8 9.4
Cash flows from investing activities:    
Additions to property, plant, and equipment (49.0) (56.7)
Additions to intangible assets (7.6) (13.8)
Proceeds from sale of fixed assets 5.1 1.4
Proceeds from divestiture 26.9 0.0
Other 0.0 (0.1)
Net cash used in investing activities - continuing operations (24.6) (69.2)
Net cash used in investing activities - discontinued operations (0.4) (3.5)
Net cash used in investing activities (25.0) (72.7)
Cash flows from financing activities:    
Borrowings under Revolving Credit Facility 100.0 46.3
Payments under Revolving Credit Facility (100.0) (46.3)
Payments on financing lease obligations (0.7) (1.3)
Payments on Term Loans (7.0) (35.0)
Receipts related to stock-based award activities 2.6 0.5
Payments related to stock-based award activities (4.0) (5.6)
Net cash used in financing activities - continuing operations (9.1) (41.4)
Net cash used in financing activities - discontinued operations 0.0 0.0
Net cash used in financing activities (9.1) (41.4)
Effect of exchange rate changes on cash and cash equivalents 1.9 4.1
Net increase (decrease) in cash and cash equivalents 91.6 (100.6)
Cash and cash equivalents, beginning of period 202.3 164.3
Cash and cash equivalents, end of period 293.9 63.7
Supplemental cash flow disclosures    
Interest paid 44.8 56.8
Net income tax paid (refund) 5.2 (5.3)
Non-cash investing activities:    
Accrued purchase of property and equipment 19.4 26.8
Accrued other intangible assets 2.8 4.9
Right-of-use assets and operating lease obligations recognized at / after ASU 2016-02 transition $ 5.2 $ 7.4
Accounting Standards Update [Extensible List] us-gaap:AccountingStandardsUpdate201602Member  
v3.20.2
Basis of Presentation
 6 Months Ended
Jun. 30, 2020
Accounting Policies [Abstract]  
Basis of Presentation
1. BASIS OF PRESENTATION

The unaudited Condensed Consolidated Financial Statements included herein have been prepared by TreeHouse Foods, Inc. and its consolidated subsidiaries (the "Company," "TreeHouse," "we," "us," or "our"), pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC") applicable to quarterly reporting on Form 10-Q. In our opinion, these statements include all adjustments necessary for a fair presentation of the results of all interim periods reported herein. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") have been condensed or omitted as permitted by such rules and regulations. The Condensed Consolidated Financial Statements and related notes should be read in conjunction with the Consolidated Financial Statements and related notes included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2019. Results of operations for interim periods are not necessarily indicative of annual results.

The preparation of our Condensed Consolidated Financial Statements in conformity with GAAP requires us to use our judgment to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosures of contingent assets and liabilities at the date of the Condensed Consolidated Financial Statements, and the reported amounts of net sales and expenses during the reporting period. Actual results could differ from these estimates.

A detailed description of the Company’s significant accounting policies can be found in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2019.

Change in Segments

In the first quarter of 2020, the Company changed how it manages its business, allocates resources, and goes to market, which resulted in modifications to its organizational and segment structure. All prior period information has been recast to reflect this change in reportable segments. Refer to Note 16 for additional information.
v3.20.2
Recent Accounting Pronouncements
 6 Months Ended
Jun. 30, 2020
Accounting Changes and Error Corrections [Abstract]  
Recent Accounting Pronouncements
2. RECENT ACCOUNTING PRONOUNCEMENTS

Adopted

In March 2020, the SEC amended Rules 3-10 and 3-16 of Regulation S-X regarding financial disclosure requirements for registered debt offerings involving subsidiaries as either issuers or guarantors and affiliates whose securities are pledged as collateral. This new guidance narrows the circumstances that require separate financial statements of subsidiary issuers and guarantors and streamlines the alternative disclosures required in lieu of those statements. The final rule also allows for the simplified disclosure to be included within Management’s Discussion and Analysis of Financial Condition and Results of Operations. This rule is effective January 4, 2021 with earlier adoption permitted. The Company early adopted this new rule during the first quarter of 2020.

In December 2019, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2019-12, Simplifying the Accounting for Income Taxes (Topic 740), which removes certain exceptions to the general principles in Topic 740 and improves consistent application of and simplifies GAAP for other areas of Topic 740 by clarifying and amending existing guidance. This guidance is effective for fiscal years and interim periods within those years beginning after December 15, 2020 with early adoption permitted. Amendments are to be applied prospectively, except for certain amendments that are to be applied either retrospectively or with a modified retrospective approach through a cumulative effect adjustment recorded to retained earnings. The Company early adopted this guidance during the first quarter of 2020. The adoption did not have a material impact on the Company's financial statements.

Not yet adopted

In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting, which provides temporary optional guidance to ease the potential burden in accounting for reference rate reform. The new guidance provides optional expedients and exceptions for applying GAAP to transactions affected by reference rate reform if certain criteria are met. These transactions include: contract modifications, hedging relationships, and the sale or transfer of debt securities classified as held-to-maturity. Entities may apply the ASU from March 12, 2020 through December 31, 2022. The Company is currently evaluating the impact of this new ASU on its consolidated financial statements and related disclosures.
v3.20.2
Restructuring Programs
 6 Months Ended
Jun. 30, 2020
Restructuring and Related Activities [Abstract]  
Restructuring Programs
3. RESTRUCTURING PROGRAMS

The Company’s restructuring and margin improvement activities are part of an enterprise-wide transformation to improve long-term profitability of the Company. These activities are aggregated into two categories: (1) TreeHouse 2020 – a long-term growth and margin improvement strategy and (2) Structure to Win – an operating expenses improvement program (collectively the "Restructuring Programs").
 
The costs by activity for the Restructuring Programs are outlined below:
 
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
 
2020
 
2019
 
2020
 
2019
 
 
(In millions)
TreeHouse 2020
 
$
8.8

 
$
28.1

 
$
20.9

 
$
54.5

Structure to Win
 
3.0

 
5.5

 
10.8

 
11.1

Total Restructuring Programs
 
$
11.8

 
$
33.6

 
$
31.7

 
$
65.6


 
Expenses associated with these programs are recognized in Cost of sales, General and administrative, and Other operating expense, net in the Condensed Consolidated Statements of Operations.  The Company does not allocate costs associated with Restructuring Programs to reportable segments when evaluating the performance of its segments.  As a result, costs associated with Restructuring Programs are not presented by reportable segment. Refer to Note 16 for more information. 
 
Below is a summary of costs by line item for the Restructuring Programs:
 
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
 
2020
 
2019
 
2020
 
2019
 
 
(In millions)
Cost of sales
 
$
—

 
$
0.2

 
$
0.7

 
$
3.2

General and administrative
 
0.3

 
0.8

 
1.0

 
1.6

Other operating expense, net
 
11.5

 
32.6

 
30.0

 
60.8

Total
 
$
11.8

 
$
33.6

 
$
31.7

 
$
65.6


 
The table below presents the exit cost liability activity as of June 30, 2020:  
 
 
Severance
 
 
(In millions)
Balance as of December 31, 2019
 
$
5.6

Expenses recognized
 
2.8

Cash payments
 
(4.2
)
Balance as of June 30, 2020
 
$
4.2


 
Liabilities as of June 30, 2020 associated with total exit cost reserves relate to severance. The severance liability is included in Accrued expenses in the Condensed Consolidated Balance Sheets.
 
(1) TreeHouse 2020
 
In the third quarter of 2017, the Company announced TreeHouse 2020, a program intended to accelerate long-term growth through optimization of our manufacturing network, transformation of our mixing centers and warehouse footprint, and leveraging of systems and processes to drive performance.  The Company’s workstreams related to these activities and selling, general, and administrative cost reductions will increase our capacity utilization, expand operating margins, and streamline our plant structure to optimize our supply chain. This program will be executed through 2020. 

Below is a summary of the overall TreeHouse 2020 program costs by type: 
 
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
Cumulative Costs To Date
 
Total Expected Costs
 
 
2020
 
2019
 
2020
 
2019
 
 
 
 
(In millions)
Asset-related
 
$
—

 
$
—

 
$
—

 
$
2.4

 
$
45.1

 
$
45.5

Employee-related
 
1.0

 
3.2

 
1.7

 
7.3

 
57.8

 
59.5

Other costs
 
7.8

 
24.9

 
19.2

 
44.8

 
177.3

 
196.5

Total
 
$
8.8

 
$
28.1

 
$
20.9

 
$
54.5

 
$
280.2

 
$
301.5


 
For the three and six months ended June 30, 2020 and 2019, asset-related costs primarily consisted of accelerated depreciation; employee-related costs primarily consisted of dedicated project employee cost and severance; and other costs primarily consisted of consulting costs.  Asset-related costs were recognized in Cost of sales while employee-related and other costs were primarily recognized in Other operating expense, net of the Condensed Consolidated Statement of Operations.

(2) Structure to Win

In the first quarter of 2018, the Company announced an operating expenses improvement program ("Structure to Win") designed to align our organization structure with strategic priorities.  The program is intended to drive operational effectiveness, cost reduction, and position the Company for growth with a focus on a lean customer focused go-to-market team, centralized supply chain, and streamlined administrative functions.  

Below is a summary of costs by type associated with the Structure to Win program:
 
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
Cumulative Costs To Date
 
Total Expected Costs
 
 
2020
 
2019
 
2020
 
2019
 
 
 
 
(In millions)
Asset-related
 
$
—

 
$
0.9

 
$
—

 
$
1.7

 
$
4.0

 
$
4.0

Employee-related
 
0.9

 
1.2

 
5.0

 
2.5

 
31.1

 
36.9

Other costs
 
2.1

 
3.4

 
5.8

 
6.9

 
35.5

 
46.7

Total
 
$
3.0

 
$
5.5

 
$
10.8

 
$
11.1

 
$
70.6

 
$
87.6


 
In the first quarter of 2020, the Company changed how it manages its business, allocates resources, and goes to market, which resulted in modifications to its organizational and segment structure. Transition expenses related to the reorganization, which primarily relate to dedicated employee cost, severance, and consulting are included within Structure to Win. In connection with this reorganization, the Company increased the total expected costs for the Structure to Win program from $60.4 million to $87.6 million during the six months ended June 30, 2020.

For the three and six months ended June 30, 2020 and 2019, asset-related costs primarily consisted of accelerated depreciation; employee-related costs primarily consisted of severance; and other costs primarily consisted of consulting services. Asset-related costs are included in General and administrative expense and the employee-related and other costs are included in Other operating expense, net of the Condensed Consolidated Statements of Operations.
v3.20.2
Receivables Sales Program
 6 Months Ended
Jun. 30, 2020
Receivables [Abstract]  
Receivables Sales Program
4. RECEIVABLES SALES PROGRAM
 
In December 2017 and June 2019, the Company entered into agreements to sell certain trade accounts receivable to two unrelated, third-party financial institutions (collectively, "the Receivables Sales Program"). The agreements can be terminated by either party with 60 days' notice. The Company has no retained interest in the receivables sold under the Receivables Sales Program; however, under the agreements the Company does have collection and administrative responsibilities for the sold receivables. Under the Receivables Sales Program, the maximum amount of receivables that may be sold at any time is $300.0 million.

Receivables sold under the Receivables Sales Program are de-recognized from the Company's Condensed Consolidated Balance Sheet at the time of the sale and the proceeds from such sales are reflected as a component of the change in receivables in the operating activities section of the Condensed Consolidated Statements of Cash Flows. The outstanding amount of accounts receivable sold under the Receivables Sales Program was $200.1 million and $243.0 million as of June 30, 2020 and December 31, 2019, respectively.

The loss on sale of receivables was $0.6 million and $1.2 million for the three months ended June 30, 2020 and 2019, respectively, and $1.5 million and $2.1 million for the six months ended June 30, 2020 and 2019, respectively, and is included in Other (income) expense, net in the Condensed Consolidated Statements of Operations. The Company has not recognized any servicing assets or liabilities as of June 30, 2020 or December 31, 2019, as the fair value of the servicing arrangement as well as the fees earned were not material to the financial statements.

As of June 30, 2020 and December 31, 2019, the Company had collected but not yet remitted to the financial institutions $131.3 million and $158.3 million, respectively. These amounts were included in Accounts payable in the Condensed Consolidated Balance Sheets.
v3.20.2
Inventories
 6 Months Ended
Jun. 30, 2020
Inventory Disclosure [Abstract]  
Inventories
5. INVENTORIES
 
 
June 30, 2020
 
December 31, 2019
 
 
(In millions)
Raw materials and supplies
 
$
257.0

 
$
205.5

Finished goods
 
372.4

 
338.5

Total inventories
 
$
629.4

 
$
544.0
v3.20.2
Discontinued Operations And Other Divestitures
 6 Months Ended
Jun. 30, 2020
Discontinued Operations and Disposal Groups [Abstract]  
Discontinued Operations And Other Divestitures
6. DISCONTINUED OPERATIONS AND OTHER DIVESTITURES

Discontinued Operations

Snacks

During the second quarter of 2019, due to changes in market price expectations for the sale of the Company's Snacks division, the Company assessed the recoverability of the carrying value of the long-lived assets associated with the division. This assessment resulted in total long-lived asset impairment losses of $66.5 million, comprised of $63.2 million of property, plant, and equipment impairment losses and $3.3 million of intangible asset impairment losses. These losses result from the estimated fair value of the Snacks asset group, which was determined by its estimated discounted cash flows. These cash flows represent Level 3 inputs under ASC 820. The impairment loss is recognized as a component of Net income (loss) from discontinued operations in the Condensed Consolidated Statements of Operations.

On August 1, 2019, the Company completed the sale of its Snacks division to Atlas Holdings, LLC. ("Atlas") for $90 million in cash, subject to customary purchase price adjustments. The Snacks division operated three plants located in Robersonville, North Carolina; El Paso, Texas; and Dothan, Alabama. A fourth plant in Minneapolis, Minnesota was not included with the sale and closed during the third quarter of 2019.

The Company entered into a Transition Services Agreement ("TSA") with Atlas, which is designed to ensure and facilitate an orderly transfer of business operations. The services provided under the TSA terminated August 1, 2020 and certain services were renewed with a maximum of an additional twelve-month period. The income received under the TSA was not material for the three and six months ended June 30, 2020 and is primarily classified within General and administrative expenses or Cost of
sales in the Company's Condensed Consolidated Statements of Operations depending on the functions being supported by the Company. Except for transition services, the Company has no continuing involvement with Atlas or the operation of the Snacks division subsequent to the completion of the sale.

Ready-to-eat Cereal

On May 1, 2019, the Company entered into a definitive agreement to sell its Ready-to-eat ("RTE") Cereal business to Post Holdings, Inc. ("Post"), which until that time had been a component of the Meal Preparation reporting segment. The sale of this business is part of the Company's portfolio optimization strategy. On December 19, 2019, the Federal Trade Commission objected to the sale to Post. On January 13, 2020, the sale to Post was terminated and the Company announced its intention to pursue a sale of the RTE Cereal business to an alternative buyer. The Company continues to evaluate market conditions as a result of the coronavirus ("COVID-19") pandemic and is committed to a plan to continue the sales process and dispose of the business.

The RTE Cereal business continues to be classified as a discontinued operation as of June 30, 2020. An expected disposal loss of $63.9 million was recognized during the three months ended June 30, 2019 within Net income (loss) from discontinued operations. The expected disposal loss for the RTE Cereal business is remeasured each quarter at the lower of carrying value or estimated fair value less costs to sell and is included in the valuation allowance in the balance sheet. There were no adjustments recognized to the expected disposal loss during the three months ended June 30, 2020, and a $0.3 million adjustment was recognized during the six months ended June 30, 2020. These adjustments are classified as a component of Net income (loss) from discontinued operations in the Condensed Consolidated Statements of Operations. Completion of the sale may be for amounts that could be significantly different from the current fair value estimate. The Company's estimate of fair value will be evaluated and recognized each reporting period until the divestiture is complete.

The Company has reflected the Snacks division (through the date of sale) and RTE Cereal business as discontinued operations for all periods presented. Unless otherwise noted, amounts and disclosures throughout these Notes to Condensed Consolidated Financial Statements relate to the Company's continuing operations.

Results of discontinued operations were as follows:

 
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
 
2020
 
2019
 
2020
 
2019
 
 
(in millions)
 
(in millions)
Net sales
 
$
60.1

 
$
225.8

 
$
116.9

 
$
460.8

Cost of sales
 
53.1

 
216.0

 
101.0

 
452.1

Selling, general, administrative and other operating expenses
 
4.3

 
17.5

 
9.2

 
30.1

Amortization expense
 
—

 
0.7

 
—

 
2.2

Asset impairment
 
—

 
130.4

 
(0.3
)
 
130.4

Other operating expense, net
 
0.4

 
2.9

 
1.2

 
3.6

Operating income (loss) from discontinued operations
 
2.3

 
(141.7
)
 
5.8

 
(157.6
)
Interest and other expense
 
0.8

 
1.8

 
2.1

 
3.6

Income tax expense (benefit)
 
0.4

 
(21.8
)
 
1.0

 
(27.1
)
Net income (loss) from discontinued operations
 
$
1.1

 
$
(121.7
)
 
$
2.7

 
$
(134.1
)

Assets and liabilities of discontinued operations presented in the Condensed Consolidated Balance Sheets as of June 30, 2020 and December 31, 2019 include the following:
 
 
June 30, 2020
 
December 31, 2019
 
 
(in millions)
Inventories
 
$
34.7

 
$
41.6

Property, plant, and equipment, net
 
64.3

 
64.4

Operating lease right-of-use assets
 
5.8

 
7.5

Goodwill
 
53.5

 
53.5

Intangible assets, net
 
38.6

 
38.6

Valuation allowance
 
(74.2
)
 
(74.5
)
Total assets of discontinued operations
 
$
122.7

 
$
131.1

 
 
 
 
 
Accrued expenses and other liabilities
 
$
1.0

 
$
8.3

Operating lease liabilities
 
6.3

 
8.2

Total liabilities of discontinued operations
 
$
7.3

 
$
16.5


Other Divestitures

In-Store Bakery Facilities

During the fourth quarter of 2019, the Company reached the decision to sell two of its In-Store Bakery facilities located in Fridley, Minnesota and Lodi, California, which manufacture breads, rolls, and cakes for in-store retail bakeries and food-away-from-home customers. These two facilities were included within the Snacking & Beverages reporting segment. On January 10, 2020, the Company entered into a definitive agreement to sell these facilities. On April 17, 2020, the sale of these facilities was completed for $24.0 million, subject to customary purchase price adjustments. The cash proceeds were classified within Net cash used in investing activities - continuing operations. The Company recognized a loss upon divestiture of $0.3 million within Other operating expense, net in the Condensed Consolidated Statements of Operations during the three and six months ended June 30, 2020.

The associated assets met the held for sale accounting criteria as of December 31, 2019 and were classified accordingly in the Condensed Consolidated Balance Sheets. These two facilities did not meet the criteria to be presented as a discontinued operation.

The following table represents detail of assets held for sale as of December 31, 2019:

 
 
December 31, 2019
 
 
(in millions)
Inventories
 
$
9.4

Property, plant, and equipment, net
 
40.9

Goodwill
 
5.7

Intangible assets, net
 
9.4

Valuation allowance
 
(41.1
)
Total assets held for sale
 
$
24.3


The Company also had $2.7 million of assets classified as held for sale as of December 31, 2019 related to the closure of the Minneapolis, Minnesota facility. The sale of these assets was completed during the first quarter of 2020.
v3.20.2
Goodwill and Intangible Assets
 6 Months Ended
Jun. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets
7. GOODWILL AND INTANGIBLE ASSETS
 
As a result of the changes in organizational structure completed in the first quarter of 2020, the Company now has the following two reportable segments: Meal Preparation and Snacking & Beverages. See Note 16 for more information regarding the change in segment structure.

In connection with the change in organizational structure completed in the first quarter of 2020, the Company allocated goodwill and accumulated impairment loss balances as of January 1, 2020 between reporting units using a relative fair value allocation approach. The change was considered a triggering event indicating a test for goodwill impairment was required as of January 1, 2020. The Company performed the impairment test, which did not result in the identification of any impairment losses.

Changes in the carrying amount of goodwill for the six months ended June 30, 2020 are as follows:
 
 
Meal Preparation
 
Snacking & Beverages
 
Total
 
 
(In millions)
Balance at January 1, 2020, before accumulated impairment losses
 
$
1,264.5

 
$
887.3

 
$
2,151.8

Accumulated impairment losses
 
(11.5
)
 
(33.0
)
 
(44.5
)
Balance at January 1, 2020
 
1,253.0

 
854.3

 
2,107.3

Foreign currency exchange adjustments
 
(3.0
)
 
(2.2
)
 
(5.2
)
Balance at June 30, 2020
 
$
1,250.0

 
$
852.1

 
$
2,102.1



Indefinite Lived Intangible Assets
 
The Company has $21.3 million and $22.0 million of trademarks with indefinite lives as of June 30, 2020 and December 31, 2019, respectively.

Finite Lived Intangible Assets

The gross carrying amounts and accumulated amortization of intangible assets with finite lives as of June 30, 2020 and December 31, 2019 are as follows:
 
 
 
June 30, 2020
 
December 31, 2019
 
 
Gross
Carrying
Amount
 
Accumulated
Amortization
 
Net
Carrying
Amount
 
Gross
Carrying
Amount
 
Accumulated
Amortization
 
 
Net
Carrying
Amount
 
 
(In millions)
Intangible assets with finite lives:
 
 

 
 

 
 

 
 

 
 

 
 
 

Customer-related
 
$
774.1

 
$
(377.2
)
 
$
396.9

 
$
778.1

 
$
(355.2
)
 
 
$
422.9

Contractual agreements
 
0.5

 
(0.5
)
 
—

 
0.5

 
(0.5
)
 
 
—

Trademarks
 
52.8

 
(29.0
)
 
23.8

 
53.0

 
(27.1
)
 
 
25.9

Formulas/recipes
 
22.1

 
(20.5
)
 
1.6

 
22.1

 
(19.2
)
 
 
2.9

Computer software
 
186.0

 
(104.8
)
 
81.2

 
179.0

 
(98.0
)
 
 
81.0

Total finite lived intangibles
 
$
1,035.5

 
$
(532.0
)
 
$
503.5

 
$
1,032.7


$
(500.0
)
 
 
$
532.7
v3.20.2
Income Taxes
 6 Months Ended
Jun. 30, 2020
Income Tax Disclosure [Abstract]  
Income Taxes
8. INCOME TAXES
 
Income taxes were recognized at an effective rate of 123.2% and 42.7% for the three and six months ended June 30, 2020, respectively, compared to 12.0% and 17.5% for the three and six months ended June 30, 2019, respectively. The change in the Company's effective tax rate for the three and six months ended June 30, 2020 compared to 2019 is primarily the result of a change in the amount of valuation allowance recorded against certain deferred tax assets and an increase in the amount of non-deductible executive compensation, partially offset by a benefit recognized in 2020 due to the enactment of the “Coronavirus Aid, Relief, and Economic Security Act” (the CARES Act). Our effective tax rate may change from period to period based on recurring and non-recurring factors including the jurisdictional mix of earnings, enacted tax legislation, state income taxes, settlement of tax audits, and the expiration of the statute of limitations in relation to unrecognized tax benefits.

Management estimates that it is reasonably possible that the total amount of unrecognized tax benefits could decrease by as much as $4.1 million within the next 12 months, primarily as a result of the resolution of audits currently in progress and the lapsing of statutes of limitations. As much as $0.4 million of the $4.1 million could affect net income when settled.

On March 27, 2020, President Trump signed the CARES Act, which features several tax provisions and other measures that assist businesses impacted by the economic effects of the COVID-19 pandemic. The significant tax provisions include an increase in the limitation of the tax deduction for interest expense from 30% to 50% of adjusted earnings in 2019 and 2020, a five-year carryback allowance for net operating losses ("NOLs") generated in tax years 2018-2020, increased charitable contribution limitations to 25% of taxable income in 2020, and a retroactive technical correction to the 2017 Tax Cuts and Jobs Act that makes qualified improvement property placed in service after December 31, 2017 eligible for bonus depreciation. The Company has recorded a $5.0 million and $11.0 million income tax benefit related to the NOL carryback provisions of the CARES Act for the three and six months ended June 30, 2020, respectively. The Company has also included an estimated federal income tax receivable related to the CARES Act of $32.3 million in Prepaid expenses and other current assets in the Condensed Consolidated Balance Sheet as of June 30, 2020.

On July 28, 2020, the Internal Revenue Service issued final regulations under Section 163(j) of the Internal Revenue Code. The Company is currently reviewing the regulations but expects they will have a positive impact on our ability to deduct business interest expense for tax purposes. In addition, we expect the final regulations to increase the income tax benefit related to the NOL carryback provision of the CARES Act by an estimated $10 million to $15 million, which will be recognized in the third quarter of 2020.
v3.20.2
Long-Term Debt
 6 Months Ended
Jun. 30, 2020
Debt Disclosure [Abstract]  
Long-Term Debt
9. LONG-TERM DEBT
 
 
 
June 30, 2020
 
December 31, 2019
 
 
(In millions)
Term Loan A
 
$
455.9

 
$
458.4

Term Loan A-1
 
677.1

 
681.6

2022 Notes
 
375.9

 
375.9

2024 Notes
 
602.9

 
602.9

Finance leases
 
3.8

 
3.9

Total outstanding debt
 
2,115.6

 
2,122.7

Deferred financing costs
 
(13.6
)
 
(15.7
)
Less current portion
 
(15.4
)
 
(15.3
)
Total long-term debt
 
$
2,086.6

 
$
2,091.7



The Company’s average interest rate on debt outstanding under its Credit Agreement for the three months ended June 30, 2020 was 2.13%. Including the impact of interest rate swap agreements in effect as of June 30, 2020, the average rate increased to 3.91%.

Revolving Credit Facility — During the three months ended June 30, 2020, the Company repaid $100.0 million which was previously drawn from its $750.0 million Revolving Credit Facility. As of June 30, 2020, the Company had remaining availability of $723.9 million under the Revolving Credit Facility. The Revolving Credit Facility matures on February 1, 2023. In addition, as of June 30, 2020, there were $26.1 million in letters of credit under the Revolving Credit Facility that were issued but undrawn, which have been included as a reduction to the calculation of available credit.

Fair Value - At June 30, 2020, the aggregate fair value of the Company's total debt was $2,122.2 million and its carrying value was $2,111.8 million. At December 31, 2019, the aggregate fair value of the Company's total debt was $2,146.1 million and its carrying value was $2,118.8 million. The fair values of the Term Loan A and Term Loan A-1 were estimated using present value techniques and market-based interest rates and credit spreads. The fair values of the Company's 2022 Notes and 2024 Notes were estimated based on quoted market prices for similar instruments due to their infrequent trading volume. Accordingly, the fair value of the Company's debt is classified as Level 2 within the valuation hierarchy.
v3.20.2
Earnings Per Share
 6 Months Ended
Jun. 30, 2020
Earnings Per Share [Abstract]  
Earnings Per Share
10. EARNINGS PER SHARE

The following table summarizes the effect of the share-based compensation awards on the weighted average number of shares outstanding used in calculating diluted loss per share:
 
 
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
 
2020
 
2019
 
2020
 
2019
 
 
(In millions, except per share data)
Weighted average common shares outstanding
 
56.5

 
56.3

 
56.4

 
56.2

Assumed exercise/vesting of equity awards (1)
 
—

 
—

 
—

 
—

Weighted average diluted common shares outstanding
 
56.5

 
56.3

 
56.4

 
56.2

 
(1)
For the three and six months ended June 30, 2020 and the three and six months ended June 30, 2019 the weighted average common shares outstanding is the same for the computations of both basic and diluted shares outstanding because including incremental shares would have been anti-dilutive. Equity awards excluded from our computation of diluted earnings per share because they were anti-dilutive, were 1.5 million and 1.6 million for the three and six months ended June 30, 2020, respectively, and 1.7 million for both the three and six months ended June 30, 2019.
v3.20.2
Stock-Based Compensation
 6 Months Ended
Jun. 30, 2020
Share-based Payment Arrangement [Abstract]  
Stock-Based Compensation
11. STOCK-BASED COMPENSATION

The Board of Directors adopted, and the Company's stockholders approved, the "TreeHouse Foods, Inc. Equity and Incentive Plan" (the "Plan"). Under the Plan, the Compensation Committee may grant awards of various types of compensation, including stock options, restricted stock, restricted stock units, performance shares, performance units, other types of stock-based awards, and other cash-based compensation. The maximum number of shares available to be awarded under the Plan is approximately 17.5 million, of which approximately 3.9 million remained available at June 30, 2020.

Total compensation expense related to stock-based payments and the related income tax benefit recognized in Net loss from continuing operations was as follows:
 
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
 
2020
 
2019
 
2020
 
2019
 
 
(In millions)
 
(In millions)
Compensation expense related to stock-based payments
 
$
7.0

 
$
6.3

 
$
14.9

 
$
12.0

Related income tax benefit
 
1.8

 
1.7

 
3.9

 
3.2



All amounts below include continuing and discontinued operations.


 Stock Options — The following table summarizes stock option activity during the six months ended June 30, 2020. Stock options generally vest in approximately three equal installments on each of the first three anniversaries of the grant date and expire ten years from the grant date.
 
 
Employee
Options
 
Weighted
Average
Exercise
Price
 
Weighted
Average
Remaining
Contractual
Term (yrs)
 
Aggregate
Intrinsic
Value
 
 
(In thousands)
 
 
 
 
 
(In millions)
Outstanding, at December 31, 2019
 
1,528

 
$
74.58

 
3.7
 
$
0.8

Forfeited
 
(7
)
 
84.66

 
 
 
 
Exercised
 
(57
)
 
46.47

 
 
 
 
Expired
 
(60
)
 
76.29

 
 
 
 
Outstanding, at June 30, 2020
 
1,404

 
75.59

 
3.4
 
0.5

Vested/expected to vest, at June 30, 2020
 
1,404

 
75.59

 
3.4
 
0.5

Exercisable, at June 30, 2020
 
1,402

 
75.60

 
3.4
 
0.5



 
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
 
2020
 
2019
 
2020
 
2019
 
 
(In millions)
 
(In millions)
Intrinsic value of stock options exercised
 
$
0.3

 
$
—

 
$
0.3

 
$
—

Tax benefit recognized from stock option exercises
 
0.1

 
—

 
0.1

 
—


  
Future compensation costs related to unvested options totaled less than $0.1 million at June 30, 2020 and will be recognized over the remaining vesting period of the grants, which averages 0.4 years.
Restricted Stock Units — Employee restricted stock unit awards generally vest based on the passage of time. These awards generally vest in approximately three equal installments on each of the first three anniversaries of the grant date. Director restricted stock units generally vest on the first anniversary of the grant date. Certain directors have deferred receipt of their awards until either their departure from the Board of Directors or a specified date. As of June 30, 2020, director restricted stock units that have been earned and deferred totaled approximately 91,130.
 
The following table summarizes the restricted stock unit activity during the six months ended June 30, 2020:
 
 
 
Employee
Restricted
Stock Units
 
Weighted
Average
Grant Date
Fair Value
 
Director
Restricted
Stock Units
 
Weighted
Average
Grant Date
Fair Value
 
 
(In thousands)
 
 
 
(In thousands)
 
 
Outstanding, at December 31, 2019
 
615

 
$
54.58

 
116

 
$
58.30

Granted
 
418

 
44.16

 
29

 
52.46

Vested
 
(221
)
 
55.42

 
(24
)
 
66.79

Forfeited
 
(63
)
 
57.35

 
—

 
—

Outstanding, at June 30, 2020
 
749

 
48.27

 
121

 
55.04


 
 
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
 
2020
 
2019
 
2020
 
2019
 
 
(In millions)
 
(In millions)
Fair value of vested restricted stock units
 
$
1.8

 
$
3.5

 
$
10.2

 
$
18.7

Tax benefit recognized from vested restricted stock units
 
0.5

 
0.8

 
1.9

 
3.4


 
Future compensation costs related to restricted stock units are approximately $27.4 million as of June 30, 2020 and will be recognized on a weighted average basis over the next 2.1 years. The grant date fair value of the awards is equal to the Company’s closing stock price on the grant date.

Performance Units — Performance unit awards are granted to certain members of management. These awards contain service and performance conditions. For each of the three performance periods, one-third of the units will accrue, multiplied by a predefined percentage generally between 0% and 200%, depending on the achievement of certain operating performance measures. Additionally, for the cumulative performance period, a number of units will accrue, equal to the number of units granted multiplied by a predefined percentage generally between 0% and 200%, depending on the achievement of certain operating performance measures, less any units previously accrued. Accrued units will be converted to stock or cash, at the discretion of the Compensation Committee, generally, on the third anniversary of the grant date. The Company intends to settle these awards in stock and has the shares available to do so.

The following table summarizes the performance unit activity during the six months ended June 30, 2020:  
 
 
Performance
Units
 
Weighted
Average
Grant Date
Fair Value
 
 
(In thousands)
 
 
Unvested, at December 31, 2019
 
482

 
$
61.28

Granted
 
221

 
44.19

Vested
 
(75
)
 
60.12

Forfeited
 
(72
)
 
77.88

Unvested, at June 30, 2020
 
556

 
52.47


 
 
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
 
2020
 
2019
 
2020
 
2019
 
 
(In millions)
 
(In millions)
Fair value of vested performance units
 
$
—

 
$
0.9

 
$
3.3

 
$
0.9

Tax benefit recognized from performance units vested
 
—

 
0.2

 
0.6

 
0.2



Future compensation costs related to the performance units are estimated to be approximately $14.7 million as of June 30, 2020 and are expected to be recognized over the next 1.4 years. The grant date fair value of the awards is equal to the Company’s closing stock price on the date of grant.
v3.20.2
Accumulated Other Comprehensive Loss
 6 Months Ended
Jun. 30, 2020
Equity [Abstract]  
Accumulated Other Comprehensive Loss
12. ACCUMULATED OTHER COMPREHENSIVE LOSS
 
Accumulated other comprehensive loss consists of the following components, all of which are net of tax:
 
 
 
Foreign
Currency
Translation (1)
 
Unrecognized
Pension and
Postretirement
Benefits (1)
 
Accumulated
Other
Comprehensive
Loss
 
 
(In millions)
Balance at December 31, 2018
 
$
(91.7
)
 
$
(5.4
)
 
$
(97.1
)
Other comprehensive income before reclassifications
 
14.0

 
—

 
14.0

Reclassifications from accumulated other comprehensive loss (2)
 
—

 
0.3

 
0.3

Other comprehensive income
 
14.0

 
0.3

 
14.3

Balance at June 30, 2019
 
$
(77.7
)
 
$
(5.1
)
 
$
(82.8
)
 
 
 
 
 
 
 
Balance at December 31, 2019
 
$
(79.4
)
 
$
(4.6
)
 
$
(84.0
)
Other comprehensive loss before reclassifications
 
(8.5
)
 
—

 
(8.5
)
Reclassifications from accumulated other comprehensive loss (2)
 
—

 
0.2

 
0.2

Other comprehensive (loss) income
 
(8.5
)
 
0.2

 
(8.3
)
Balance at June 30, 2020
 
$
(87.9
)
 
$
(4.4
)
 
$
(92.3
)
  
(1)
The tax impact of the foreign currency translation adjustment and the unrecognized pension and postretirement benefits reclassification was insignificant for the three and six months ended June 30, 2020 and 2019.
(2)
Refer to Note 13 for additional information regarding these reclassifications.
v3.20.2
Employee Retirement and Postretirement Benefits
 6 Months Ended
Jun. 30, 2020
Retirement Benefits [Abstract]  
Employee Retirement and Postretirement Benefits
13. EMPLOYEE RETIREMENT AND POSTRETIREMENT BENEFITS

Pension, Profit Sharing, and Postretirement Benefits — Certain employees and retirees participate in pension and other postretirement benefit plans. Employee benefit plan obligations and expenses included in the Condensed Consolidated Financial Statements are determined based on plan assumptions, employee demographic data, including years of service and compensation, benefits and claims paid, and employer contributions. The information below includes the activities of the Company's continuing and discontinued operations.

Components of net periodic pension (benefit) cost are as follows:
 
 
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
 
2020
 
2019
 
2020
 
2019
 
 
(In millions)
 
(In millions)
Service cost
 
$
0.4

 
$
0.4

 
$
0.8

 
$
0.9

Interest cost
 
2.7

 
3.3

 
5.4

 
6.5

Expected return on plan assets
 
(3.6
)
 
(3.4
)
 
(7.2
)
 
(7.2
)
Amortization of unrecognized prior service cost
 
—

 
0.1

 
—

 
0.1

Amortization of unrecognized net loss
 
0.1

 
0.1

 
0.2

 
0.2

Net periodic pension (benefit) cost
 
$
(0.4
)
 
$
0.5

 
$
(0.8
)
 
$
0.5


Components of net periodic postretirement cost are as follows:
 
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
 
2020
 
2019
 
2020
 
2019
 
 
(In millions)
 
(In millions)
Interest cost
 
$
0.2

 
$
0.3

 
$
0.4

 
$
0.6

Net periodic postretirement cost
 
$
0.2

 
$
0.3

 
$
0.4

 
$
0.6



The service cost components of net periodic pension and postretirement costs were recognized in Cost of sales and the other components were recognized in Other (income) expense, net of the Condensed Consolidated Statements of Operations.

Multiemployer Pension Plans - The Company contributes to several multiemployer pension plans on behalf of employees covered by collective bargaining agreements. These plans are administered jointly by management and union representatives and cover substantially all full-time and certain part-time union employees who are not covered by other plans. The risks of participating in multiemployer plans are different from single-employer plans in the following aspects: (1) assets contributed to the multiemployer plan by one employer may be used to provide benefits to employees of other participating employers, (2) if a participating employer stops contributing to the plan, the unfunded obligations of the plan may be borne by the remaining participating employers, and (3) if the Company chooses to stop participating in a multiemployer plan, we could, under certain circumstances, be liable for unfunded vested benefits or other expenses of jointly administered union/management plans. 

In the second quarter of 2019, the Company executed a complete withdrawal from the Retail, Wholesale, and Department Store International Union and Industry Pension Fund. Absent agreement with the Fund on a withdrawal payment, the Company estimated a withdrawal liability of $4.1 million. The Company settled the withdrawal liability in the fourth quarter of 2019.
v3.20.2
Commitments and Contingencies
 6 Months Ended
Jun. 30, 2020
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies
14. COMMITMENTS AND CONTINGENCIES

Litigation, Investigations, and Audits - On November 16, 2016, a purported TreeHouse shareholder filed a class action captioned Tarara v. TreeHouse Foods, Inc., et al., Case No. 1:16-cv-10632, in the United States District Court for the Northern District of Illinois against TreeHouse and certain of its officers. The complaint, amended on March 24, 2017, is purportedly brought on behalf of all purchasers of TreeHouse common stock from January 20, 2016 through and including November 2, 2016. It asserts claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder and seeks, among other things, damages and costs and expenses. On December 22, 2016, another purported TreeHouse shareholder filed an action captioned Wells v. Reed, et al., Case No. 2016-CH-16359, in the Circuit Court of Cook County, Illinois, against TreeHouse and certain of its officers. This complaint, purportedly brought derivatively on behalf of TreeHouse, asserts state law claims against certain officers for breach of fiduciary duty, unjust enrichment, and corporate waste. On February 7, 2017, another purported TreeHouse shareholder filed an action captioned Lavin v. Reed, et al., Case No. 17-cv-01014, in the Northern District of Illinois, against TreeHouse and certain of its officers. This complaint is also purportedly brought derivatively on behalf of TreeHouse, and it asserts state law claims against certain officers for breach of fiduciary duty, unjust enrichment, abuse of control, gross mismanagement, and corporate waste. On February 8, 2019, another purported TreeHouse shareholder filed an action captioned Bartelt v. Reed, et al., Case No. 1:19-cv-00835, in the United States District Court for the Northern District of Illinois. This complaint is purportedly brought derivatively on behalf of TreeHouse and asserts state law claims against certain officers for breach of fiduciary duty, unjust enrichment, abuse of control, gross mismanagement, and corporate waste, in addition to asserting violations of Section 14 of the Securities Exchange Act of 1934. Finally, on June 3, 2019, another purported TreeHouse shareholder filed an action captioned City of Ann Arbor Employees’ Retirement System v. Reed, et al., Case No. 2019-CH-06753, in the Circuit Court of Cook County, Illinois, against TreeHouse and certain of its officers. Like Wells, Lavin, and Bartelt, this complaint is purportedly brought derivatively on behalf of TreeHouse and asserts claims for contribution and indemnification, breach of fiduciary duty, and aiding and abetting breaches of fiduciary duty.

All five complaints make substantially similar allegations (though the amended complaint in Tarara now contains additional detail). Essentially, the complaints allege that TreeHouse, under the authority and control of the individual defendants: (i) made certain false and misleading statements regarding the Company’s business, operations, and future prospects; and (ii) failed to disclose that (a) the Company’s private label business was underperforming; (b) the Company’s Flagstone business was underperforming; (c) the Company’s acquisition strategy was underperforming; (d) the Company had overstated its full-year 2016 guidance; and (e) TreeHouse’s statements lacked reasonable basis. The complaints allege that these actions artificially inflated the market price of TreeHouse common stock during the class period, thus purportedly harming investors. The Bartelt action also includes substantially similar allegations concerning events in 2017, and the Ann Arbor complaint also seeks contribution from the individual defendants for losses incurred by the company in these litigations. We believe that these claims are without merit and intend to defend against them vigorously.

Since its initial docketing, the Tarara matter has been re-captioned as Public Employees’ Retirement Systems of Mississippi v. TreeHouse Foods, Inc., et al., in accordance with the Court’s order appointing Public Employees’ Retirement Systems of Mississippi as the lead plaintiff. On May 26, 2017, the Public Employees’ defendants filed a motion to dismiss, which the court denied on February 12, 2018. On April 12, 2018, the Public Employees’ defendants filed their answer to the amended
complaint. On April 23, 2018, the parties filed a joint status report with the Court, which set forth a proposed discovery and briefing schedule for the Court’s consideration. On July 13, 2018, lead plaintiff filed a motion to certify the class, and defendants filed their response in opposition to the motion to certify the class on October 8, 2018. On November 12, 2018, the parties filed an agreed motion to stay proceedings to allow them to explore mediation. The motion was granted on November 19. The parties thereafter engaged in mediation but failed to resolve the dispute. On March 29, 2019, the parties resumed litigation by filing an agreed motion for extension of time, which was granted on April 9. Under that schedule, lead plaintiff filed its reply class certification brief on May 17, 2019.

On February 26, 2020, the court granted lead plaintiff’s motion for class certification. Defendants then filed a petition for permissive appeal of the class certification order in the United States Court of Appeals for the Seventh Circuit on March 11, 2020. After ordering lead plaintiff to file a response, the court denied the petition on May 4, 2020.

On December 16, 2019, the parties agreed to extend the case schedule 90 days. This agreed motion was granted on December 25, 2019. At a status conference on March 10, 2020, the parties informed the court that they intended to engage in a second mediation and the court extended then-upcoming deadlines under the case schedule, pending a further status report from the parties regarding the extent of the stay needed to facilitate mediation. The court subsequently issued multiple general orders as a result of the COVID-19 outbreak, which together postponed all case deadlines for a total of 77 days. On June 9, 2020, the parties filed a joint status report informing the court that mediation had been scheduled for July 9, 2020. The next day, the court stayed the case pending the outcome of mediation. Any in-person mediation was thereafter postponed due to ongoing COVID-19 concerns until at least August 26, 2020.

Due to the similarity of the complaints, the parties in Wells and Lavin entered stipulations deferring the litigation until the earlier of (i) the court in Public Employees’ entering an order resolving defendants’ anticipated motion to dismiss therein or (ii) plaintiffs’ counsel receiving notification of a settlement of Public Employees’ or until otherwise agreed to by the parties. On September 27, 2018, the parties in Wells and Lavin filed joint motions for entry of agreed orders further deferring the matters in light of the Public Employees’ Court’s denial of the motion to dismiss in February 2018. The Wells and Lavin Courts entered the agreed orders further deferring the matters on September 27, 2018 and October 10, 2018, respectively. On June 25, 2019, the parties jointly moved to consolidate the Bartelt matter with Lavin, so that it would be subject to the Lavin deferral order. This motion was granted on June 27, 2019, and Bartelt is now consolidated with Lavin and deferred. There is no set status date in Lavin at this time. Similarly, Ann Arbor was consolidated with Wells on August 13, 2019, and is now deferred. In Wells, the next status conference is scheduled to take place on August 26, 2020.

The Company is party to matters challenging its wage and hour practices. These matters include a number of class actions consolidated under the caption Negrete v. Ralcorp Holdings, Inc., et al, pending in the U.S. District Court for the Central District of California, in which plaintiffs allege a pattern of violations of California and/or federal law at three former Company manufacturing facilities in California. The Company has notified the Court that it has reached a preliminary settlement understanding with the Negrete plaintiffs that would resolve all associated matters for a payment by the Company of $9.0 million. The preliminary understanding reached with the Negrete plaintiffs involves procedural requirements and Court approval which may continue through 2021. As a result of these developments, the Company recognized a $9.0 million liability as of June 30, 2020.

In addition, the Company is party in the ordinary course of business to certain claims, litigation, audits, and investigations. The Company will record an accrual for a loss contingency when it is probable that a loss has been incurred and the amount of the loss can be reasonably estimated. The Company believes it has established adequate accruals for liabilities that are probable and reasonably estimable that may be incurred in connection with any such currently pending or threatened matter, none of which are significant. In the Company’s opinion, the settlement of any such currently pending or threatened matter is not expected to have a material impact on the Company’s financial position, results of operations, or cash flows.
v3.20.2
Derivative Instruments
 6 Months Ended
Jun. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Instruments
15. DERIVATIVE INSTRUMENTS

The Company is exposed to certain risks relating to its ongoing business operations. The primary risks managed by derivative instruments include interest rate risk, foreign currency risk, and commodity price risk. Derivative contracts are entered into for periods consistent with the related underlying exposure and do not constitute positions independent of those exposures. The Company does not enter into derivative instruments for trading or speculative purposes.

Interest Rate Risk - The Company manages its exposure to changes in interest rates by optimizing the use of variable-rate and fixed-rate debt and by utilizing interest rate swaps to hedge our exposure to changes in interest rates, to reduce the volatility of
our financing costs, and to achieve a desired proportion of fixed versus floating-rate debt, based on current and projected market conditions.

As of June 30, 2020, the Company had entered into $875.0 million of long-term interest rate swap agreements to lock into a fixed LIBOR interest rate base. Under the terms of the agreements, $875.0 million in variable-rate debt was swapped for a weighted average fixed interest rate base of approximately 2.68% from 2019 through 2020 and 2.91% from 2021 through 2025. These instruments are not accounted for under hedge accounting and the changes in their fair value are recognized in the Condensed Consolidated Statements of Operations.

Foreign Currency Risk - Due to the Company’s foreign operations, it is exposed to foreign currency risk. The Company enters into foreign currency contracts to manage the risk associated with foreign currency cash flows. The Company’s objective in using foreign currency contracts is to establish a fixed foreign currency exchange rate for the net cash flow requirements for purchases that are denominated in U.S. dollars. These contracts do not qualify for hedge accounting and changes in their fair value are recognized in the Condensed Consolidated Statements of Operations. As of June 30, 2020, the Company had less than $0.1 million of U.S. dollar foreign currency contracts outstanding, expiring throughout 2020.

Commodity Risk - Certain commodities the Company uses in the production and distribution of its products are exposed to market price risk. The Company utilizes derivative contracts to manage this risk. The majority of commodity forward contracts are not derivatives, and those that are generally qualify for the normal purchases and normal sales scope exception under the guidance for derivative instruments and hedging activities and, therefore, are not subject to its provisions. For derivative commodity contracts that do not qualify for the normal purchases and normal sales scope exception, the Company records their fair value on the Condensed Consolidated Balance Sheets, with changes in value being recognized in the Condensed Consolidated Statements of Operations.

The Company’s derivative commodity contracts may include contracts for diesel, oil, plastics, natural gas, electricity, resin, corn, coffee, and other commodity contracts that do not meet the requirements for the normal purchases and normal sales scope exception.

Diesel contracts are used to manage the Company’s risk associated with the underlying cost of diesel fuel used to deliver products. Contracts for oil, plastics, and resin are used to manage the Company’s risk associated with the underlying commodity cost of a significant component used in packaging materials. Contracts for natural gas and electricity are used to manage the Company’s risk associated with the utility costs of its manufacturing facilities, and commodity contracts that are derivatives that do not meet the normal purchases and normal sales scope exception are used to manage the price risk associated with raw material costs. As of June 30, 2020, the Company had outstanding contracts for the purchase of 0.1 million megawatts of electricity, expiring throughout 2020 and 2021; 28.2 million gallons of diesel, expiring throughout 2020 and 2021; 4.5 million dekatherms of natural gas, expiring throughout 2020 and 2021; 5.3 million pounds of coffee, expiring throughout 2020 and 2021; and 32.7 million pounds of resin, expiring throughout 2020 and 2021.        

 The following table identifies the fair value of each derivative instrument:
 
 
Fair Value
 
 
June 30, 2020
 
December 31, 2019
Asset Derivatives
 
(In millions)
Commodity contracts
 
$
2.4

 
$
0.8

Interest rate swap agreements
 
—

 
0.8

 
 
$
2.4

 
$
1.6

Liability Derivatives
 
 
 
 
Commodity contracts
 
$
6.2

 
$
0.6

Foreign currency contracts
 
—

 
0.1

Interest rate swap agreements
 
111.6

 
56.5

 
 
$
117.8

 
$
57.2


 
As of June 30, 2020 and December 31, 2019, asset derivatives are included within Other assets, net and liability derivatives are included within Accrued expenses in the Condensed Consolidated Balance Sheets.

The fair values of the commodity contracts, foreign currency contracts, and interest rate swap agreements are determined using Level 2 inputs. Level 2 inputs are inputs other than quoted market prices that are observable for an asset or liability, either directly or indirectly. The fair values of the commodity contracts, foreign currency contracts, and interest rate swap agreements are based on an analysis comparing the contract rates to the market rates at the balance sheet date.

We recognized the following gains and losses on our derivative contracts in the Condensed Consolidated Statements of Operations:
 
 
Location of (Loss) Gain
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
 
Recognized in Net Income (Loss)
 
2020
 
2019
 
2020
 
2019
 
 
 
 
(In millions)
 
(In millions)
Mark-to-market unrealized gain (loss)
 
 

 
 

 
 

 
 

Commodity contracts
 
Other (income) expense, net
 
$
8.5

 
$
(2.7
)
 
$
(4.1
)
 
$
(1.0
)
Foreign currency contracts
 
Other (income) expense, net
 
(0.4
)
 
(0.5
)
 
0.1

 
(1.8
)
Interest rate swap agreements
 
Other (income) expense, net
 
(3.8
)
 
(22.1
)
 
(55.8
)
 
(38.4
)
Total unrealized gain (loss)
 
 
 
4.3

 
(25.3
)
 
(59.8
)
 
(41.2
)
Realized (loss) gain
 
 
 
 
 
 
 
 
 
 
Commodity contracts
 
Manufacturing related to Cost of sales and transportation related to Selling and distribution
 
(4.2
)
 
0.8

 
(5.7
)
 
1.3

Foreign currency contracts
 
Cost of sales
 
0.3

 
0.3

 
0.4

 
0.6

Interest rate swap agreements
 
Interest expense
 
(5.3
)
 
2.0

 
(6.1
)
 
4.4

Total realized (loss) gain
 
 
 
(9.2
)
 
3.1

 
(11.4
)
 
6.3

Total loss
 
 
 
$
(4.9
)
 
$
(22.2
)
 
$
(71.2
)
 
$
(34.9
)
v3.20.2
Segment Information
 6 Months Ended
Jun. 30, 2020
Segment Reporting [Abstract]  
Segment Information
16. SEGMENT INFORMATION

On January 1, 2020, the Company changed how it manages its business, allocates resources, and goes to market, which resulted in modifications to its organizational and segment structure. As a result, the Company reorganized from a three segment structure previously organized by product category (Baked Goods, Beverages, and Meal Solutions) to a two segment structure organized by market dynamics (Meal Preparation and Snacking & Beverages). In connection with this segment reorganization, the Company also recast expenses related to its commercial sales organization from direct selling, general, and administrative expense previously included within the segments to corporate unallocated selling, general, and administrative expense to align with the revised organizational structure. All prior period information has been recast to reflect this change in reportable segments.

The principal products that comprise each segment are as follows:

Meal Preparation – Our Meal Preparation segment sells aseptic cheese & pudding; baking and mix powders; hot cereals; jams, preserves, and jellies; liquid and powdered non-dairy creamer; macaroni and cheese; mayonnaise; Mexican, barbeque, and other sauces; pasta; pickles and related products; powdered soups and gravies; refrigerated and shelf stable dressings and sauces; refrigerated dough; single serve hot beverages; skillet dinners; and table and flavored syrups.

Snacking & Beverages – Our Snacking & Beverages segment sells bars; broths; candy; cookies; crackers; in-store bakery products; pita chips; powdered drinks; pretzels; ready-to-drink coffee; retail griddle waffles, pancakes, and French toast; specialty teas; and sweeteners.

The Company manages operations on a company-wide basis, thereby making determinations as to the allocation of resources in total rather than on a segment-level basis. The Company has designated reportable segments based on how management views its business. The Company does not segregate assets between segments for internal reporting. Therefore, asset-related information has not been presented. The reportable segments, as presented above, are consistent with the manner in which the Company reports its results to the Chief Operating Decision Maker.

The Company evaluates the performance of its segments based on net sales dollars and direct operating income. Direct operating income is defined as gross profit less freight out, sales commissions, and direct selling, general, and administrative expenses. The amounts in the following tables are obtained from reports used by senior management and do not include income taxes. Other expenses not allocated include unallocated selling, general, and administrative expenses, unallocated costs of sales, and unallocated corporate expenses (amortization expense, other operating expense, and asset impairment). The accounting policies of the Company’s segments are the same as those described in the summary of significant accounting policies set forth in Note 1 to the Consolidated Financial Statements contained in our Annual Report on Form 10-K for the year ended December 31, 2019.

Financial information relating to the Company’s reportable segments on a continuing operations basis, revised to reflect the new segment structure, is as follows:
 
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
 
2020
 
2019
 
2020
 
2019
 
 
(In millions)
 
(In millions)
Net sales to external customers:
 
 

 
 

 
 

 
 

Meal Preparation
 
$
667.7

 
$
657.5

 
$
1,341.3

 
$
1,328.2

Snacking & Beverages
 
374.2

 
367.8

 
785.5

 
763.9

Total
 
$
1,041.9

 
$
1,025.3

 
$
2,126.8

 
$
2,092.1

Direct operating income:
 
 
 
 
 
 
 
 
Meal Preparation
 
$
102.3

 
$
90.3

 
$
188.6

 
$
181.1

Snacking & Beverages
 
52.5

 
46.0

 
100.6

 
92.9

Total
 
154.8

 
136.3

 
289.2

 
274.0

Unallocated selling, general, and administrative expenses
 
(82.5
)
 
(89.8
)
 
(153.9
)
 
(156.4
)
Unallocated cost of sales (1)
 
(17.7
)
 
(3.2
)
 
(14.5
)
 
(10.6
)
Unallocated corporate expense and other (1)
 
(29.3
)
 
(51.2
)
 
(65.3
)
 
(99.4
)
Operating income (loss)
 
$
25.3

 
$
(7.9
)
 
$
55.5

 
$
7.6


(1)
Includes charges related to restructuring programs and other costs managed at corporate.

Disaggregation of Revenue

Segment revenue disaggregated by product category groups, revised to reflect the new segment structure, is as follows:

 
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
 
2020
 
2019
 
2020
 
2019
 
 
(In millions)
 
(In millions)
Center store grocery
 
$
413.3

 
$
455.1

 
$
845.3

 
$
898.3

Main course
 
254.4

 
202.4

 
496.0

 
429.9

Total Meal Preparation
 
667.7

 
657.5

 
1,341.3

 
1,328.2

Sweet & savory snacks
 
273.2

 
291.9

 
578.2

 
598.1

Beverages & drink mixes
 
101.0

 
75.9

 
207.3

 
165.8

Total Snacking & Beverages
 
374.2

 
367.8

 
785.5

 
763.9

Total net sales
 
$
1,041.9

 
$
1,025.3

 
$
2,126.8

 
$
2,092.1


Segment revenue disaggregated by sales channel is as follows:

 
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
 
2020
 
2019
 
2020
 
2019
 
 
(In millions)
 
(In millions)
Retail grocery
 
$
880.6

 
$
807.7

 
$
1,766.1

 
$
1,662.6

Food-away-from-home
 
48.1

 
91.2

 
122.1

 
176.6

Industrial, co-manufacturing, and other
 
113.2

 
126.4

 
238.6

 
252.9

Total net sales
 
$
1,041.9

 
$
1,025.3

 
$
2,126.8

 
$
2,092.1
v3.20.2
Recent Accounting Pronouncements (Policies)
 6 Months Ended
Jun. 30, 2020
Accounting Changes and Error Corrections [Abstract]  
Recent Accounting Pronouncements
Adopted

In March 2020, the SEC amended Rules 3-10 and 3-16 of Regulation S-X regarding financial disclosure requirements for registered debt offerings involving subsidiaries as either issuers or guarantors and affiliates whose securities are pledged as collateral. This new guidance narrows the circumstances that require separate financial statements of subsidiary issuers and guarantors and streamlines the alternative disclosures required in lieu of those statements. The final rule also allows for the simplified disclosure to be included within Management’s Discussion and Analysis of Financial Condition and Results of Operations. This rule is effective January 4, 2021 with earlier adoption permitted. The Company early adopted this new rule during the first quarter of 2020.

In December 2019, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2019-12, Simplifying the Accounting for Income Taxes (Topic 740), which removes certain exceptions to the general principles in Topic 740 and improves consistent application of and simplifies GAAP for other areas of Topic 740 by clarifying and amending existing guidance. This guidance is effective for fiscal years and interim periods within those years beginning after December 15, 2020 with early adoption permitted. Amendments are to be applied prospectively, except for certain amendments that are to be applied either retrospectively or with a modified retrospective approach through a cumulative effect adjustment recorded to retained earnings. The Company early adopted this guidance during the first quarter of 2020. The adoption did not have a material impact on the Company's financial statements.

Not yet adopted

In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting, which provides temporary optional guidance to ease the potential burden in accounting for reference rate reform. The new guidance provides optional expedients and exceptions for applying GAAP to transactions affected by reference rate reform if certain criteria are met. These transactions include: contract modifications, hedging relationships, and the sale or transfer of debt securities classified as held-to-maturity. Entities may apply the ASU from March 12, 2020 through December 31, 2022. The Company is currently evaluating the impact of this new ASU on its consolidated financial statements and related disclosures.
v3.20.2
Restructuring Programs (Tables)
 6 Months Ended
Jun. 30, 2020
Restructuring Cost and Reserve [Line Items]  
Aggregate Expenses Incurred Associated with Facility Closure
Below is a summary of costs by line item for the Restructuring Programs:
 
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
 
2020
 
2019
 
2020
 
2019
 
 
(In millions)
Cost of sales
 
$
—

 
$
0.2

 
$
0.7

 
$
3.2

General and administrative
 
0.3

 
0.8

 
1.0

 
1.6

Other operating expense, net
 
11.5

 
32.6

 
30.0

 
60.8

Total
 
$
11.8

 
$
33.6

 
$
31.7

 
$
65.6
Activity of Restructuring Program Liabilities
The table below presents the exit cost liability activity as of June 30, 2020:  
 
 
Severance
 
 
(In millions)
Balance as of December 31, 2019
 
$
5.6

Expenses recognized
 
2.8

Cash payments
 
(4.2
)
Balance as of June 30, 2020
 
$
4.2
TreeHouse 2020  
Restructuring Cost and Reserve [Line Items]  
Aggregate Expenses Incurred Associated with Facility Closure
Below is a summary of the overall TreeHouse 2020 program costs by type: 
 
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
Cumulative Costs To Date
 
Total Expected Costs
 
 
2020
 
2019
 
2020
 
2019
 
 
 
 
(In millions)
Asset-related
 
$
—

 
$
—

 
$
—

 
$
2.4

 
$
45.1

 
$
45.5

Employee-related
 
1.0

 
3.2

 
1.7

 
7.3

 
57.8

 
59.5

Other costs
 
7.8

 
24.9

 
19.2

 
44.8

 
177.3

 
196.5

Total
 
$
8.8

 
$
28.1

 
$
20.9

 
$
54.5

 
$
280.2

 
$
301.5
Structure to Win  
Restructuring Cost and Reserve [Line Items]  
Aggregate Expenses Incurred Associated with Facility Closure
Below is a summary of costs by type associated with the Structure to Win program:
 
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
Cumulative Costs To Date
 
Total Expected Costs
 
 
2020
 
2019
 
2020
 
2019
 
 
 
 
(In millions)
Asset-related
 
$
—

 
$
0.9

 
$
—

 
$
1.7

 
$
4.0

 
$
4.0

Employee-related
 
0.9

 
1.2

 
5.0

 
2.5

 
31.1

 
36.9

Other costs
 
2.1

 
3.4

 
5.8

 
6.9

 
35.5

 
46.7

Total
 
$
3.0

 
$
5.5

 
$
10.8

 
$
11.1

 
$
70.6

 
$
87.6
Restructuring and Margin Improvement Activities Categories  
Restructuring Cost and Reserve [Line Items]  
Aggregate Expenses Incurred Associated with Facility Closure
The costs by activity for the Restructuring Programs are outlined below:
 
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
 
2020
 
2019
 
2020
 
2019
 
 
(In millions)
TreeHouse 2020
 
$
8.8

 
$
28.1

 
$
20.9

 
$
54.5

Structure to Win
 
3.0

 
5.5

 
10.8

 
11.1

Total Restructuring Programs
 
$
11.8

 
$
33.6

 
$
31.7

 
$
65.6
v3.20.2
Inventories (Tables)
 6 Months Ended
Jun. 30, 2020
Inventory Disclosure [Abstract]  
Inventories
 
 
June 30, 2020
 
December 31, 2019
 
 
(In millions)
Raw materials and supplies
 
$
257.0

 
$
205.5

Finished goods
 
372.4

 
338.5

Total inventories
 
$
629.4

 
$
544.0
v3.20.2
Discontinued Operations And Other Divestitures (Tables)
 6 Months Ended
Jun. 30, 2020
Discontinued Operations and Disposal Groups [Abstract]  
Disposal Groups, Including Discontinued Operations
Results of discontinued operations were as follows:

 
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
 
2020
 
2019
 
2020
 
2019
 
 
(in millions)
 
(in millions)
Net sales
 
$
60.1

 
$
225.8

 
$
116.9

 
$
460.8

Cost of sales
 
53.1

 
216.0

 
101.0

 
452.1

Selling, general, administrative and other operating expenses
 
4.3

 
17.5

 
9.2

 
30.1

Amortization expense
 
—

 
0.7

 
—

 
2.2

Asset impairment
 
—

 
130.4

 
(0.3
)
 
130.4

Other operating expense, net
 
0.4

 
2.9

 
1.2

 
3.6

Operating income (loss) from discontinued operations
 
2.3

 
(141.7
)
 
5.8

 
(157.6
)
Interest and other expense
 
0.8

 
1.8

 
2.1

 
3.6

Income tax expense (benefit)
 
0.4

 
(21.8
)
 
1.0

 
(27.1
)
Net income (loss) from discontinued operations
 
$
1.1

 
$
(121.7
)
 
$
2.7

 
$
(134.1
)

Assets and liabilities of discontinued operations presented in the Condensed Consolidated Balance Sheets as of June 30, 2020 and December 31, 2019 include the following:
 
 
June 30, 2020
 
December 31, 2019
 
 
(in millions)
Inventories
 
$
34.7

 
$
41.6

Property, plant, and equipment, net
 
64.3

 
64.4

Operating lease right-of-use assets
 
5.8

 
7.5

Goodwill
 
53.5

 
53.5

Intangible assets, net
 
38.6

 
38.6

Valuation allowance
 
(74.2
)
 
(74.5
)
Total assets of discontinued operations
 
$
122.7

 
$
131.1

 
 
 
 
 
Accrued expenses and other liabilities
 
$
1.0

 
$
8.3

Operating lease liabilities
 
6.3

 
8.2

Total liabilities of discontinued operations
 
$
7.3

 
$
16.5

The following table represents detail of assets held for sale as of December 31, 2019:

 
 
December 31, 2019
 
 
(in millions)
Inventories
 
$
9.4

Property, plant, and equipment, net
 
40.9

Goodwill
 
5.7

Intangible assets, net
 
9.4

Valuation allowance
 
(41.1
)
Total assets held for sale
 
$
24.3
v3.20.2
Goodwill and Intangible Assets (Tables)
 6 Months Ended
Jun. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]  
Changes in Carrying Amount of Goodwill
Changes in the carrying amount of goodwill for the six months ended June 30, 2020 are as follows:
 
 
Meal Preparation
 
Snacking & Beverages
 
Total
 
 
(In millions)
Balance at January 1, 2020, before accumulated impairment losses
 
$
1,264.5

 
$
887.3

 
$
2,151.8

Accumulated impairment losses
 
(11.5
)
 
(33.0
)
 
(44.5
)
Balance at January 1, 2020
 
1,253.0

 
854.3

 
2,107.3

Foreign currency exchange adjustments
 
(3.0
)
 
(2.2
)
 
(5.2
)
Balance at June 30, 2020
 
$
1,250.0

 
$
852.1

 
$
2,102.1
Gross Carrying Amounts and Accumulated Amortization of Intangible Assets, with Finite Lives
The gross carrying amounts and accumulated amortization of intangible assets with finite lives as of June 30, 2020 and December 31, 2019 are as follows:
 
 
 
June 30, 2020
 
December 31, 2019
 
 
Gross
Carrying
Amount
 
Accumulated
Amortization
 
Net
Carrying
Amount
 
Gross
Carrying
Amount
 
Accumulated
Amortization
 
 
Net
Carrying
Amount
 
 
(In millions)
Intangible assets with finite lives:
 
 

 
 

 
 

 
 

 
 

 
 
 

Customer-related
 
$
774.1

 
$
(377.2
)
 
$
396.9

 
$
778.1

 
$
(355.2
)
 
 
$
422.9

Contractual agreements
 
0.5

 
(0.5
)
 
—

 
0.5

 
(0.5
)
 
 
—

Trademarks
 
52.8

 
(29.0
)
 
23.8

 
53.0

 
(27.1
)
 
 
25.9

Formulas/recipes
 
22.1

 
(20.5
)
 
1.6

 
22.1

 
(19.2
)
 
 
2.9

Computer software
 
186.0

 
(104.8
)
 
81.2

 
179.0

 
(98.0
)
 
 
81.0

Total finite lived intangibles
 
$
1,035.5

 
$
(532.0
)
 
$
503.5

 
$
1,032.7


$
(500.0
)
 
 
$
532.7
v3.20.2
Long-Term Debt (Tables)
 6 Months Ended
Jun. 30, 2020
Debt Disclosure [Abstract]  
Schedule of Long-Term Debt
 
 
June 30, 2020
 
December 31, 2019
 
 
(In millions)
Term Loan A
 
$
455.9

 
$
458.4

Term Loan A-1
 
677.1

 
681.6

2022 Notes
 
375.9

 
375.9

2024 Notes
 
602.9

 
602.9

Finance leases
 
3.8

 
3.9

Total outstanding debt
 
2,115.6

 
2,122.7

Deferred financing costs
 
(13.6
)
 
(15.7
)
Less current portion
 
(15.4
)
 
(15.3
)
Total long-term debt
 
$
2,086.6

 
$
2,091.7
v3.20.2
Earnings Per Share (Tables)
 6 Months Ended
Jun. 30, 2020
Earnings Per Share [Abstract]  
Summary of Effect of Share-Based Compensation Awards on Weighted Average Number of Shares Outstanding Used in Calculating Diluted Earnings Per Share
The following table summarizes the effect of the share-based compensation awards on the weighted average number of shares outstanding used in calculating diluted loss per share:
 
 
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
 
2020
 
2019
 
2020
 
2019
 
 
(In millions, except per share data)
Weighted average common shares outstanding
 
56.5

 
56.3

 
56.4

 
56.2

Assumed exercise/vesting of equity awards (1)
 
—

 
—

 
—

 
—

Weighted average diluted common shares outstanding
 
56.5

 
56.3

 
56.4

 
56.2

 
(1)
For the three and six months ended June 30, 2020 and the three and six months ended June 30, 2019 the weighted average common shares outstanding is the same for the computations of both basic and diluted shares outstanding because including incremental shares would have been anti-dilutive. Equity awards excluded from our computation of diluted earnings per share because they were anti-dilutive, were 1.5 million and 1.6 million for the three and six months ended June 30, 2020, respectively, and 1.7 million for both the three and six months ended June 30, 2019.
v3.20.2
Stock-Based Compensation (Tables)
 6 Months Ended
Jun. 30, 2020
Share-based Payment Arrangement [Abstract]  
Summary of Total Compensation Expense
Total compensation expense related to stock-based payments and the related income tax benefit recognized in Net loss from continuing operations was as follows:
 
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
 
2020
 
2019
 
2020
 
2019
 
 
(In millions)
 
(In millions)
Compensation expense related to stock-based payments
 
$
7.0

 
$
6.3

 
$
14.9

 
$
12.0

Related income tax benefit
 
1.8

 
1.7

 
3.9

 
3.2
Summary of Stock Option Activity The following table summarizes stock option activity during the six months ended June 30, 2020. Stock options generally vest in approximately three equal installments on each of the first three anniversaries of the grant date and expire ten years from the grant date.
 
 
Employee
Options
 
Weighted
Average
Exercise
Price
 
Weighted
Average
Remaining
Contractual
Term (yrs)
 
Aggregate
Intrinsic
Value
 
 
(In thousands)
 
 
 
 
 
(In millions)
Outstanding, at December 31, 2019
 
1,528

 
$
74.58

 
3.7
 
$
0.8

Forfeited
 
(7
)
 
84.66

 
 
 
 
Exercised
 
(57
)
 
46.47

 
 
 
 
Expired
 
(60
)
 
76.29

 
 
 
 
Outstanding, at June 30, 2020
 
1,404

 
75.59

 
3.4
 
0.5

Vested/expected to vest, at June 30, 2020
 
1,404

 
75.59

 
3.4
 
0.5

Exercisable, at June 30, 2020
 
1,402

 
75.60

 
3.4
 
0.5
Highlight of Stock Options Activity
 
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
 
2020
 
2019
 
2020
 
2019
 
 
(In millions)
 
(In millions)
Intrinsic value of stock options exercised
 
$
0.3

 
$
—

 
$
0.3

 
$
—

Tax benefit recognized from stock option exercises
 
0.1

 
—

 
0.1

 
—
Summary of Restricted Stock Unit Activity
The following table summarizes the restricted stock unit activity during the six months ended June 30, 2020:
 
 
 
Employee
Restricted
Stock Units
 
Weighted
Average
Grant Date
Fair Value
 
Director
Restricted
Stock Units
 
Weighted
Average
Grant Date
Fair Value
 
 
(In thousands)
 
 
 
(In thousands)
 
 
Outstanding, at December 31, 2019
 
615

 
$
54.58

 
116

 
$
58.30

Granted
 
418

 
44.16

 
29

 
52.46

Vested
 
(221
)
 
55.42

 
(24
)
 
66.79

Forfeited
 
(63
)
 
57.35

 
—

 
—

Outstanding, at June 30, 2020
 
749

 
48.27

 
121

 
55.04
Highlight of Restricted Stock Unit Activity
 
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
 
2020
 
2019
 
2020
 
2019
 
 
(In millions)
 
(In millions)
Fair value of vested restricted stock units
 
$
1.8

 
$
3.5

 
$
10.2

 
$
18.7

Tax benefit recognized from vested restricted stock units
 
0.5

 
0.8

 
1.9

 
3.4
Summary of Performance Unit Activity
The following table summarizes the performance unit activity during the six months ended June 30, 2020:  
 
 
Performance
Units
 
Weighted
Average
Grant Date
Fair Value
 
 
(In thousands)
 
 
Unvested, at December 31, 2019
 
482

 
$
61.28

Granted
 
221

 
44.19

Vested
 
(75
)
 
60.12

Forfeited
 
(72
)
 
77.88

Unvested, at June 30, 2020
 
556

 
52.47
Highlight of Performance Unit Activity
 
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
 
2020
 
2019
 
2020
 
2019
 
 
(In millions)
 
(In millions)
Fair value of vested performance units
 
$
—

 
$
0.9

 
$
3.3

 
$
0.9

Tax benefit recognized from performance units vested
 
—

 
0.2

 
0.6

 
0.2
v3.20.2
Accumulated Other Comprehensive Loss (Tables)
 6 Months Ended
Jun. 30, 2020
Equity [Abstract]  
Components of Accumulated Other Comprehensive Loss Net of Tax
Accumulated other comprehensive loss consists of the following components, all of which are net of tax:
 
 
 
Foreign
Currency
Translation (1)
 
Unrecognized
Pension and
Postretirement
Benefits (1)
 
Accumulated
Other
Comprehensive
Loss
 
 
(In millions)
Balance at December 31, 2018
 
$
(91.7
)
 
$
(5.4
)
 
$
(97.1
)
Other comprehensive income before reclassifications
 
14.0

 
—

 
14.0

Reclassifications from accumulated other comprehensive loss (2)
 
—

 
0.3

 
0.3

Other comprehensive income
 
14.0

 
0.3

 
14.3

Balance at June 30, 2019
 
$
(77.7
)
 
$
(5.1
)
 
$
(82.8
)
 
 
 
 
 
 
 
Balance at December 31, 2019
 
$
(79.4
)
 
$
(4.6
)
 
$
(84.0
)
Other comprehensive loss before reclassifications
 
(8.5
)
 
—

 
(8.5
)
Reclassifications from accumulated other comprehensive loss (2)
 
—

 
0.2

 
0.2

Other comprehensive (loss) income
 
(8.5
)
 
0.2

 
(8.3
)
Balance at June 30, 2020
 
$
(87.9
)
 
$
(4.4
)
 
$
(92.3
)
  
(1)
The tax impact of the foreign currency translation adjustment and the unrecognized pension and postretirement benefits reclassification was insignificant for the three and six months ended June 30, 2020 and 2019.
(2)
Refer to Note 13 for additional information regarding these reclassifications.
v3.20.2
Employee Retirement and Postretirement Benefits (Tables)
 6 Months Ended
Jun. 30, 2020
Retirement Benefits [Abstract]  
Summary of Net Periodic Cost (Benefit) of Pension and Postretirement Benefit Plans
Components of net periodic pension (benefit) cost are as follows:
 
 
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
 
2020
 
2019
 
2020
 
2019
 
 
(In millions)
 
(In millions)
Service cost
 
$
0.4

 
$
0.4

 
$
0.8

 
$
0.9

Interest cost
 
2.7

 
3.3

 
5.4

 
6.5

Expected return on plan assets
 
(3.6
)
 
(3.4
)
 
(7.2
)
 
(7.2
)
Amortization of unrecognized prior service cost
 
—

 
0.1

 
—

 
0.1

Amortization of unrecognized net loss
 
0.1

 
0.1

 
0.2

 
0.2

Net periodic pension (benefit) cost
 
$
(0.4
)
 
$
0.5

 
$
(0.8
)
 
$
0.5


Components of net periodic postretirement cost are as follows:
 
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
 
2020
 
2019
 
2020
 
2019
 
 
(In millions)
 
(In millions)
Interest cost
 
$
0.2

 
$
0.3

 
$
0.4

 
$
0.6

Net periodic postretirement cost
 
$
0.2

 
$
0.3

 
$
0.4

 
$
0.6
v3.20.2
Derivative Instruments (Tables)
 6 Months Ended
Jun. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative, Fair Value, and Location on Condensed Consolidated Balance Sheet
 The following table identifies the fair value of each derivative instrument:
 
 
Fair Value
 
 
June 30, 2020
 
December 31, 2019
Asset Derivatives
 
(In millions)
Commodity contracts
 
$
2.4

 
$
0.8

Interest rate swap agreements
 
—

 
0.8

 
 
$
2.4

 
$
1.6

Liability Derivatives
 
 
 
 
Commodity contracts
 
$
6.2

 
$
0.6

Foreign currency contracts
 
—

 
0.1

Interest rate swap agreements
 
111.6

 
56.5

 
 
$
117.8

 
$
57.2
Gains and Losses on Derivative Contracts
We recognized the following gains and losses on our derivative contracts in the Condensed Consolidated Statements of Operations:
 
 
Location of (Loss) Gain
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
 
Recognized in Net Income (Loss)
 
2020
 
2019
 
2020
 
2019
 
 
 
 
(In millions)
 
(In millions)
Mark-to-market unrealized gain (loss)
 
 

 
 

 
 

 
 

Commodity contracts
 
Other (income) expense, net
 
$
8.5

 
$
(2.7
)
 
$
(4.1
)
 
$
(1.0
)
Foreign currency contracts
 
Other (income) expense, net
 
(0.4
)
 
(0.5
)
 
0.1

 
(1.8
)
Interest rate swap agreements
 
Other (income) expense, net
 
(3.8
)
 
(22.1
)
 
(55.8
)
 
(38.4
)
Total unrealized gain (loss)
 
 
 
4.3

 
(25.3
)
 
(59.8
)
 
(41.2
)
Realized (loss) gain
 
 
 
 
 
 
 
 
 
 
Commodity contracts
 
Manufacturing related to Cost of sales and transportation related to Selling and distribution
 
(4.2
)
 
0.8

 
(5.7
)
 
1.3

Foreign currency contracts
 
Cost of sales
 
0.3

 
0.3

 
0.4

 
0.6

Interest rate swap agreements
 
Interest expense
 
(5.3
)
 
2.0

 
(6.1
)
 
4.4

Total realized (loss) gain
 
 
 
(9.2
)
 
3.1

 
(11.4
)
 
6.3

Total loss
 
 
 
$
(4.9
)
 
$
(22.2
)
 
$
(71.2
)
 
$
(34.9
)
v3.20.2
Segment Information (Tables)
 6 Months Ended
Jun. 30, 2020
Segment Reporting [Abstract]  
Financial Information Relating to Reportable Segments
Financial information relating to the Company’s reportable segments on a continuing operations basis, revised to reflect the new segment structure, is as follows:
 
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
 
2020
 
2019
 
2020
 
2019
 
 
(In millions)
 
(In millions)
Net sales to external customers:
 
 

 
 

 
 

 
 

Meal Preparation
 
$
667.7

 
$
657.5

 
$
1,341.3

 
$
1,328.2

Snacking & Beverages
 
374.2

 
367.8

 
785.5

 
763.9

Total
 
$
1,041.9

 
$
1,025.3

 
$
2,126.8

 
$
2,092.1

Direct operating income:
 
 
 
 
 
 
 
 
Meal Preparation
 
$
102.3

 
$
90.3

 
$
188.6

 
$
181.1

Snacking & Beverages
 
52.5

 
46.0

 
100.6

 
92.9

Total
 
154.8

 
136.3

 
289.2

 
274.0

Unallocated selling, general, and administrative expenses
 
(82.5
)
 
(89.8
)
 
(153.9
)
 
(156.4
)
Unallocated cost of sales (1)
 
(17.7
)
 
(3.2
)
 
(14.5
)
 
(10.6
)
Unallocated corporate expense and other (1)
 
(29.3
)
 
(51.2
)
 
(65.3
)
 
(99.4
)
Operating income (loss)
 
$
25.3

 
$
(7.9
)
 
$
55.5

 
$
7.6


(1)
Includes charges related to restructuring programs and other costs managed at corporate.
Schedule of Segment Revenue Disaggregated by Product Category
Segment revenue disaggregated by product category groups, revised to reflect the new segment structure, is as follows:

 
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
 
2020
 
2019
 
2020
 
2019
 
 
(In millions)
 
(In millions)
Center store grocery
 
$
413.3

 
$
455.1

 
$
845.3

 
$
898.3

Main course
 
254.4

 
202.4

 
496.0

 
429.9

Total Meal Preparation
 
667.7

 
657.5

 
1,341.3

 
1,328.2

Sweet & savory snacks
 
273.2

 
291.9

 
578.2

 
598.1

Beverages & drink mixes
 
101.0

 
75.9

 
207.3

 
165.8

Total Snacking & Beverages
 
374.2

 
367.8

 
785.5

 
763.9

Total net sales
 
$
1,041.9

 
$
1,025.3

 
$
2,126.8

 
$
2,092.1


Segment revenue disaggregated by sales channel is as follows:

 
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
 
2020
 
2019
 
2020
 
2019
 
 
(In millions)
 
(In millions)
Retail grocery
 
$
880.6

 
$
807.7

 
$
1,766.1

 
$
1,662.6

Food-away-from-home
 
48.1

 
91.2

 
122.1

 
176.6

Industrial, co-manufacturing, and other
 
113.2

 
126.4

 
238.6

 
252.9

Total net sales
 
$
1,041.9

 
$
1,025.3

 
$
2,126.8

 
$
2,092.1
v3.20.2
Restructuring Programs - Aggregate Expenses Incurred Associated with Facility Closure (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Dec. 31, 2019
Restructuring Cost and Reserve [Line Items]          
Restructuring charges $ 11.8 $ 33.6 $ 31.7 $ 65.6  
Cost of sales          
Restructuring Cost and Reserve [Line Items]          
Restructuring charges 0.0 0.2 0.7 3.2  
General and administrative          
Restructuring Cost and Reserve [Line Items]          
Restructuring charges 0.3 0.8 1.0 1.6  
Other operating expense, net          
Restructuring Cost and Reserve [Line Items]          
Restructuring charges 11.5 32.6 30.0 60.8  
TreeHouse 2020          
Restructuring Cost and Reserve [Line Items]          
Restructuring charges 8.8 28.1 20.9 54.5  
Cumulative Costs To Date 280.2   280.2    
Total Expected Costs 301.5   301.5    
Structure to Win          
Restructuring Cost and Reserve [Line Items]          
Restructuring charges 3.0 5.5 10.8 11.1  
Cumulative Costs To Date 70.6   70.6    
Total Expected Costs 87.6   87.6   $ 60.4
Restructuring and Margin Improvement Activities Categories          
Restructuring Cost and Reserve [Line Items]          
Restructuring charges 11.8 33.6 31.7 65.6  
Restructuring and Margin Improvement Activities Categories | TreeHouse 2020          
Restructuring Cost and Reserve [Line Items]          
Restructuring charges 8.8 28.1 20.9 54.5  
Restructuring and Margin Improvement Activities Categories | Structure to Win          
Restructuring Cost and Reserve [Line Items]          
Restructuring charges 3.0 5.5 10.8 11.1  
Asset-related | TreeHouse 2020          
Restructuring Cost and Reserve [Line Items]          
Restructuring charges 0.0 0.0 0.0 2.4  
Cumulative Costs To Date 45.1   45.1    
Total Expected Costs 45.5   45.5    
Asset-related | Structure to Win          
Restructuring Cost and Reserve [Line Items]          
Restructuring charges 0.0 0.9 0.0 1.7  
Cumulative Costs To Date 4.0   4.0    
Total Expected Costs 4.0   4.0    
Employee-related | TreeHouse 2020          
Restructuring Cost and Reserve [Line Items]          
Restructuring charges 1.0 3.2 1.7 7.3  
Cumulative Costs To Date 57.8   57.8    
Total Expected Costs 59.5   59.5    
Employee-related | Structure to Win          
Restructuring Cost and Reserve [Line Items]          
Restructuring charges 0.9 1.2 5.0 2.5  
Cumulative Costs To Date 31.1   31.1    
Total Expected Costs 36.9   36.9    
Other costs | TreeHouse 2020          
Restructuring Cost and Reserve [Line Items]          
Restructuring charges 7.8 24.9 19.2 44.8  
Cumulative Costs To Date 177.3   177.3    
Total Expected Costs 196.5   196.5    
Other costs | Structure to Win          
Restructuring Cost and Reserve [Line Items]          
Restructuring charges 2.1 $ 3.4 5.8 $ 6.9  
Cumulative Costs To Date 35.5   35.5    
Total Expected Costs $ 46.7   $ 46.7    
v3.20.2
Restructuring Programs - Activity of Restructuring Program Liabilities (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Restructuring Reserve [Roll Forward]        
Expenses recognized $ 11.8 $ 33.6 $ 31.7 $ 65.6
Restructuring Plans Other Than TreeHouse 2020 | Severance        
Restructuring Reserve [Roll Forward]        
Balance as of December 31, 2019     5.6  
Cash payments     (4.2)  
Balance as of June 30, 2020 $ 4.2   4.2  
Restructuring Plans Other Than TreeHouse 2020 | Severance | Expenses recognized        
Restructuring Reserve [Roll Forward]        
Expenses recognized     $ 2.8  
v3.20.2
Restructuring Programs - Additional Information (Details) - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2020
Dec. 31, 2019
TreeHouse 2020    
Restructuring Cost and Reserve [Line Items]    
Description of restructuring plan In the third quarter of 2017, the Company announced TreeHouse 2020, a program intended to accelerate long-term growth through optimization of our manufacturing network, transformation of our mixing centers and warehouse footprint, and leveraging of systems and processes to drive performance.  The Company’s workstreams related to these activities and selling, general, and administrative cost reductions will increase our capacity utilization, expand operating margins, and streamline our plant structure to optimize our supply chain.  
Total cost to close facilities $ 301.5  
Structure to Win    
Restructuring Cost and Reserve [Line Items]    
Description of restructuring plan In the first quarter of 2018, the Company announced an operating expenses improvement program ("Structure to Win") designed to align our organization structure with strategic priorities.  The program is intended to drive operational effectiveness, cost reduction, and position the Company for growth with a focus on a lean customer focused go-to-market team, centralized supply chain, and streamlined administrative functions.  
Total cost to close facilities $ 87.6 $ 60.4
v3.20.2
Receivables Sales Program (Details)
 3 Months Ended 6 Months Ended
Jun. 30, 2020
USD ($)
Jun. 30, 2019
USD ($)
Jun. 30, 2020
USD ($)
agreement
Jun. 30, 2019
USD ($)
Dec. 31, 2019
USD ($)
Receivables Sales Agreement [Line Items]          
Number of agreements | agreement     2    
Termination period     60 days    
Retained interest     $ 0    
Outstanding amount of principal balances under the receivables sales agreement $ 200,100,000   200,100,000   $ 243,000,000.0
Loss on sale of receivables 600,000 $ 1,200,000 1,500,000 $ 2,100,000  
Cash from customers not yet remitted 131,300,000   131,300,000   $ 158,300,000
Maximum          
Receivables Sales Agreement [Line Items]          
Proceeds from receivables sales $ 300,000,000.0   $ 300,000,000.0    
v3.20.2
Inventories - Components (Details) - USD ($)
$ in Millions
Jun. 30, 2020
Dec. 31, 2019
Inventory Disclosure [Abstract]    
Raw materials and supplies $ 257.0 $ 205.5
Finished goods 372.4 338.5
Total inventories $ 629.4 $ 544.0
v3.20.2
Discontinued Operations And Other Divestitures - Additional Information (Details) - USD ($)
 3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Apr. 17, 2020
Dec. 31, 2019
Aug. 01, 2019
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]              
Other operating expense, net $ 400,000 $ 2,900,000 $ 1,200,000 $ 3,600,000      
Assets held for sale 122,700,000   122,700,000     $ 131,100,000  
Snacking & Beverages              
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]              
Other operating expense, net 300,000   300,000        
Discontinued Operations | Snacks              
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]              
Long-lived asset impairment losses   66,500,000          
Impairment of intangible assets (excluding goodwill)   3,300,000          
Cash consideration         $ 24,000,000.0   $ 90,000,000
Discontinued Operations | Property, Plant and Equipment | Snacks              
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]              
Long-lived asset impairment losses   63,200,000          
Held-for-sale              
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]              
Assets held for sale           24,300,000  
Held-for-sale | RTE Cereal              
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]              
Long-lived asset impairment losses $ 0 $ 63,900,000 $ 300,000        
Held-for-sale | In-Store Bakery Facilities              
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]              
Assets held for sale           $ 2,700,000  
v3.20.2
Discontinued Operations And Other Divestitures - Results of Discontinued Operations on Income Statement (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Discontinued Operations and Disposal Groups [Abstract]        
Net sales $ 60.1 $ 225.8 $ 116.9 $ 460.8
Cost of sales 53.1 216.0 101.0 452.1
Selling, general, administrative and other operating expenses 4.3 17.5 9.2 30.1
Amortization expense 0.0 0.7 0.0 2.2
Asset impairment 0.0 130.4 (0.3) 130.4
Other operating expense, net 0.4 2.9 1.2 3.6
Operating income (loss) from discontinued operations 2.3 (141.7) 5.8 (157.6)
Interest and other expense 0.8 1.8 2.1 3.6
Income tax expense (benefit) 0.4 (21.8) 1.0 (27.1)
Net income (loss) from discontinued operations $ 1.1 $ (121.7) $ 2.7 $ (134.1)
v3.20.2
Discontinued Operations And Other Divestitures - Results of Discontinued Operations on Balance Sheet (Details) - USD ($)
$ in Millions
Jun. 30, 2020
Dec. 31, 2019
Discontinued Operations and Disposal Groups [Abstract]    
Inventories $ 34.7 $ 41.6
Property, plant, and equipment, net 64.3 64.4
Operating lease right-of-use assets 5.8 7.5
Goodwill 53.5 53.5
Intangible assets, net 38.6 38.6
Valuation allowance (74.2) (74.5)
Assets of discontinued operations 122.7 131.1
Accrued expenses and other liabilities 1.0 8.3
Operating lease liabilities 6.3 8.2
Total liabilities of discontinued operations $ 7.3 $ 16.5
v3.20.2
Discontinued Operations And Other Divestitures - Assets Held for Sale (Details) - USD ($)
$ in Millions
Jun. 30, 2020
Dec. 31, 2019
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]    
Inventories $ 34.7 $ 41.6
Property, plant, and equipment, net 64.3 64.4
Goodwill 53.5 53.5
Intangible assets, net 38.6 38.6
Valuation allowance (74.2) (74.5)
Assets of discontinued operations $ 122.7 131.1
Held-for-sale    
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]    
Inventories   9.4
Property, plant, and equipment, net   40.9
Goodwill   5.7
Intangible assets, net   9.4
Valuation allowance   (41.1)
Assets of discontinued operations   $ 24.3
v3.20.2
Goodwill and Intangible Assets - Additional Information (Details)
$ in Millions
 6 Months Ended 12 Months Ended
Jun. 30, 2020
USD ($)
segment
Dec. 31, 2019
USD ($)
segment
Indefinite-lived Intangible Assets [Line Items]    
Number of operating segments | segment 2 3
Trademarks    
Indefinite-lived Intangible Assets [Line Items]    
Indefinite lived intangibles | $ $ 21.3 $ 22.0
v3.20.2
Goodwill and Intangible Assets - Changes in Carrying Amount of Goodwill (Details) - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2020
Dec. 31, 2019
Goodwill [Roll Forward]    
Balance at January 1, 2020, before accumulated impairment losses   $ 2,151.8
Accumulated impairment losses   (44.5)
Balance at January 1, 2020 $ 2,107.3  
Foreign currency exchange adjustments (5.2)  
Balance at June 30, 2020 2,102.1  
Meal Preparation    
Goodwill [Roll Forward]    
Balance at January 1, 2020, before accumulated impairment losses   1,264.5
Accumulated impairment losses   (11.5)
Balance at January 1, 2020 1,253.0  
Foreign currency exchange adjustments (3.0)  
Balance at June 30, 2020 1,250.0  
Snacking & Beverages    
Goodwill [Roll Forward]    
Balance at January 1, 2020, before accumulated impairment losses   887.3
Accumulated impairment losses   $ (33.0)
Balance at January 1, 2020 854.3  
Foreign currency exchange adjustments (2.2)  
Balance at June 30, 2020 $ 852.1  
v3.20.2
Goodwill and Intangible Assets - Gross Carrying Amounts and Accumulated Amortization of Intangible Assets, with Finite Lives (Details) - USD ($)
$ in Millions
Jun. 30, 2020
Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Amount $ 1,035.5 $ 1,032.7
Accumulated Amortization (532.0) (500.0)
Net Carrying Amount 503.5 532.7
Customer-related    
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Amount 774.1 778.1
Accumulated Amortization (377.2) (355.2)
Net Carrying Amount 396.9 422.9
Contractual agreements    
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Amount 0.5 0.5
Accumulated Amortization (0.5) (0.5)
Net Carrying Amount 0.0 0.0
Trademarks    
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Amount 52.8 53.0
Accumulated Amortization (29.0) (27.1)
Net Carrying Amount 23.8 25.9
Formulas/recipes    
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Amount 22.1 22.1
Accumulated Amortization (20.5) (19.2)
Net Carrying Amount 1.6 2.9
Computer software    
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Amount 186.0 179.0
Accumulated Amortization (104.8) (98.0)
Net Carrying Amount $ 81.2 $ 81.0
v3.20.2
Income Taxes (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Sep. 30, 2020
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Income Tax Contingency [Line Items]          
Effective income tax rate   123.20% 12.00% 42.70% 17.50%
Decrease in total amount of unrecognized tax benefits within the next 12 months   $ 4.1   $ 4.1  
Decrease in unrecognized tax benefits is reasonably possible   0.4   0.4  
CARES Act, Income tax benefit   5.0   11.0  
Income taxes receivable related to CARES Act   $ 32.3   $ 32.3  
Minimum | Scenario, Forecast          
Income Tax Contingency [Line Items]          
CARES Act, Income tax benefit $ 10.0        
Maximum | Scenario, Forecast          
Income Tax Contingency [Line Items]          
CARES Act, Income tax benefit $ 15.0        
v3.20.2
Long-Term Debt - Components (Details) - USD ($)
$ in Millions
Jun. 30, 2020
Dec. 31, 2019
Debt Instrument [Line Items]    
Finance leases $ 3.8 $ 3.9
Total outstanding debt 2,115.6 2,122.7
Deferred financing costs (13.6) (15.7)
Less current portion (15.4) (15.3)
Total long-term debt 2,086.6 2,091.7
2022 Notes    
Debt Instrument [Line Items]    
Senior notes 375.9 375.9
2024 Notes    
Debt Instrument [Line Items]    
Senior notes 602.9 602.9
Term Loan A    
Debt Instrument [Line Items]    
Term loan 455.9 458.4
Term Loan A-1    
Debt Instrument [Line Items]    
Term loan $ 677.1 $ 681.6
v3.20.2
Long-Term Debt - Additional Information (Details) - USD ($)
 3 Months Ended
Jun. 30, 2020
Dec. 31, 2019
Debt Instrument [Line Items]    
Average interest rate on debt outstanding 2.13%  
Credit agreement interest rate including effect of interest rate swaps 3.91%  
Long-term debt, fair value $ 2,122,200,000 $ 2,146,100,000
Long-term debt, carrying value 2,111,800,000 $ 2,118,800,000
Revolving Credit Facility    
Debt Instrument [Line Items]    
Revolving credit facility outstanding 100,000,000.0  
Revolving credit facility - maximum borrowing capacity 750,000,000.0  
Revolving credit facility available 723,900,000  
Letters of credit facility issued but undrawn $ 26,100,000  
v3.20.2
Earnings Per Share (Details) - shares
shares in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Earnings Per Share [Abstract]        
Weighted average common shares outstanding (in shares) 56.5 56.3 56.4 56.2
Assumed exercise/vesting of equity awards (in shares) 0.0 0.0 0.0 0.0
Weighted average diluted common shares outstanding (in shares) 56.5 56.3 56.4 56.2
Equity awards, excluded from computation of diluted earnings (in shares) 1.5 1.7 1.6 1.7
v3.20.2
Stock-Based Compensation - Additional Information (Details)
$ in Millions
 6 Months Ended
Jun. 30, 2020
USD ($)
installment
performance_period
shares
Stock Option  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Award vesting, number of equal installments | installment 3
Award vesting period 3 years
Award expiration period 10 years
Compensation costs, unrecognized | $ $ 0.1
Compensation costs, recognition weighted average remaining period (in years) 4 months 24 days
Restricted Stock Units  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Award vesting, number of equal installments | installment 3
Award vesting period 3 years
Compensation costs, unrecognized | $ $ 27.4
Compensation costs, recognition weighted average remaining period (in years) 2 years 1 month 6 days
Restricted Stock Units | Director  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Number of restricted stock units, earned and deferred (in shares) | shares 91,130
Performance Units  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Compensation costs, unrecognized | $ $ 14.7
Compensation costs, recognition weighted average remaining period (in years) 1 year 4 months 24 days
Number of performance periods | performance_period 3
Accrual of units (as a percent) 33.33%
Performance Units | Minimum  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Predefined percentage for calculation of performance unit awards 0.00%
Performance Units | Maximum  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Predefined percentage for calculation of performance unit awards 200.00%
TreeHouse Foods, Inc. Equity and Incentive Plan  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Maximum number of shares available to be awarded (in shares) | shares 17,500,000
Shares available (in shares) | shares 3,900,000
v3.20.2
Stock-Based Compensation - Summary of Total Compensation Expense (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Share-based Payment Arrangement [Abstract]        
Compensation expense related to stock-based payments $ 7.0 $ 6.3 $ 14.9 $ 12.0
Related income tax benefit $ 1.8 $ 1.7 $ 3.9 $ 3.2
v3.20.2
Stock-Based Compensation - Summary of Stock Option Activity (Details) - Stock Option - USD ($)
$ / shares in Units, shares in Thousands, $ in Millions
 6 Months Ended 12 Months Ended
Jun. 30, 2020
Dec. 31, 2019
Employee Options    
Options outstanding, beginning balance (in shares) 1,528  
Options, forfeited (in shares) (7)  
Options, exercised (in shares) (57)  
Options, expired (in shares) (60)  
Options outstanding, ending balance (in shares) 1,404 1,528
Options, vested/expected to vest, at June 30, 2020 (in shares) 1,404  
Options, exercisable, at June 30, 2020 (in shares) 1,402  
Weighted Average Exercise Price    
Weighted average exercise price, outstanding, beginning balance (in usd per share) $ 74.58  
Weighted average exercise price, forfeited (in usd per share) 84.66  
Weighted average exercise price, exercised (in usd per share) 46.47  
Weighted average exercise price, expired (in usd per share) 76.29  
Weighted average exercise price, outstanding, ending balance (in usd per share) 75.59 $ 74.58
Weighted average exercise price, vested/expected to vest, at June 30, 2020 (in usd per share) 75.59  
Weighted average exercise price, exercisable, at June 30, 2020 (in usd per share) $ 75.60  
Weighted Average Remaining Contractual Term (yrs)    
Weighted average remaining contractual term, outstanding 3 years 4 months 24 days 3 years 8 months 12 days
Weighted average remaining contractual term, vested/expected to vest 3 years 4 months 24 days  
Weighted average remaining contractual term, exercisable 3 years 4 months 24 days  
Aggregate Intrinsic Value    
Aggregate intrinsic value, outstanding $ 0.5 $ 0.8
Aggregate intrinsic value, vested/expected to vest, at June 30, 2020 0.5  
Aggregate intrinsic value, exercisable, at June 30, 2020 $ 0.5  
v3.20.2
Stock-Based Compensation - Summary of Employee Stock Option Highlights (Details) - Stock Option - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Intrinsic value of stock options exercised $ 0.3 $ 0.0 $ 0.3 $ 0.0
Tax benefit recognized from stock option exercises $ 0.1 $ 0.0 $ 0.1 $ 0.0
v3.20.2
Stock-Based Compensation - Summary of Restricted Stock and Restricted Stock Unit Activity (Details) - Restricted Stock Units
shares in Thousands
 6 Months Ended
Jun. 30, 2020
$ / shares
shares
Employee  
Restricted Stock Units  
Stock units, outstanding, beginning balance (in shares) | shares 615
Stock units, granted (in shares) | shares 418
Stock units, vested (in shares) | shares (221)
Stock units, forfeited (in shares) | shares (63)
Stock units, outstanding, ending balance (in shares) | shares 749
Weighted Average Grant Date Fair Value  
Weighted average grant date fair value, outstanding, beginning balance (in usd per share) | $ / shares $ 54.58
Weighted average grant date fair value, granted (in usd per share) | $ / shares 44.16
Weighted average grant date fair value, vested (in usd per share) | $ / shares 55.42
Weighted average grant date fair value, forfeited (in usd per share) | $ / shares 57.35
Weighted average grant date fair value, outstanding, ending balance (in usd per share) | $ / shares $ 48.27
Director  
Restricted Stock Units  
Stock units, outstanding, beginning balance (in shares) | shares 116
Stock units, granted (in shares) | shares 29
Stock units, vested (in shares) | shares (24)
Stock units, forfeited (in shares) | shares 0
Stock units, outstanding, ending balance (in shares) | shares 121
Weighted Average Grant Date Fair Value  
Weighted average grant date fair value, outstanding, beginning balance (in usd per share) | $ / shares $ 58.30
Weighted average grant date fair value, granted (in usd per share) | $ / shares 52.46
Weighted average grant date fair value, vested (in usd per share) | $ / shares 66.79
Weighted average grant date fair value, forfeited (in usd per share) | $ / shares 0
Weighted average grant date fair value, outstanding, ending balance (in usd per share) | $ / shares $ 55.04
v3.20.2
Stock-Based Compensation - Summary of Employee and Director Restricted Stock and Restricted Stock Highlights (Details) - Restricted Stock Units - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Fair value of vested restricted stock units $ 1.8 $ 3.5 $ 10.2 $ 18.7
Tax benefit recognized from vested restricted stock units $ 0.5 $ 0.8 $ 1.9 $ 3.4
v3.20.2
Stock-Based Compensation - Summary of Performance Unit Activity (Details) - Performance Units
shares in Thousands
 6 Months Ended
Jun. 30, 2020
$ / shares
shares
Performance Units  
Stock units, outstanding, beginning balance (in shares) | shares 482
Stock units, granted (in shares) | shares 221
Stock units, vested (in shares) | shares (75)
Stock units, forfeited (in shares) | shares (72)
Stock units, outstanding, ending balance (in shares) | shares 556
Weighted Average Grant Date Fair Value  
Weighted average grant date fair value, outstanding, beginning balance (in usd per share) | $ / shares $ 61.28
Weighted average grant date fair value, granted (in usd per share) | $ / shares 44.19
Weighted average grant date fair value, vested (in usd per share) | $ / shares 60.12
Weighted average grant date fair value, forfeited (in usd per share) | $ / shares 77.88
Weighted average grant date fair value, outstanding, ending balance (in usd per share) | $ / shares $ 52.47
v3.20.2
Stock-Based Compensation - Summary of Performance Unit Highlights (Details) - Performance Units - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Fair value of vested performance units $ 0.0 $ 0.9 $ 3.3 $ 0.9
Tax benefit recognized from performance units vested $ 0.0 $ 0.2 $ 0.6 $ 0.2
v3.20.2
Accumulated Other Comprehensive Loss (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2020
Mar. 31, 2020
Jun. 30, 2019
Mar. 31, 2019
Jun. 30, 2020
Jun. 30, 2019
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Beginning balance $ 1,788.1 $ 1,830.9 $ 2,141.7 $ 2,160.0 $ 1,830.9 $ 2,160.0
Other comprehensive income before reclassifications         (8.5) 14.0
Reclassifications from accumulated other comprehensive loss         0.2 0.3
Other comprehensive income (loss) 7.5 (15.8) 7.4 6.9 (8.3) 14.3
Ending balance 1,803.7 1,788.1 1,983.3 2,141.7 1,803.7 1,983.3
Foreign Currency Translation            
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Beginning balance   (79.4)   (91.7) (79.4) (91.7)
Other comprehensive income before reclassifications         (8.5) 14.0
Reclassifications from accumulated other comprehensive loss         0.0 0.0
Other comprehensive income (loss)         (8.5) 14.0
Ending balance (87.9)   (77.7)   (87.9) (77.7)
Unrecognized Pension and Postretirement Benefits            
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Beginning balance   (4.6)   (5.4) (4.6) (5.4)
Other comprehensive income before reclassifications         0.0 0.0
Reclassifications from accumulated other comprehensive loss         0.2 0.3
Other comprehensive income (loss)         0.2 0.3
Ending balance (4.4)   (5.1)   (4.4) (5.1)
Accumulated Other Comprehensive Loss            
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Beginning balance (99.8) (84.0) (90.2) (97.1) (84.0) (97.1)
Other comprehensive income (loss) 7.5 (15.8) 7.4 6.9    
Ending balance $ (92.3) $ (99.8) $ (82.8) $ (90.2) $ (92.3) $ (82.8)
v3.20.2
Employee Retirement and Postretirement Benefits - Summary of Net Periodic Cost of Pension and Postretirement Benefit Plans (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Pension Benefits        
Components of net periodic costs        
Service cost $ 0.4 $ 0.4 $ 0.8 $ 0.9
Interest cost 2.7 3.3 5.4 6.5
Expected return on plan assets (3.6) (3.4) (7.2) (7.2)
Amortization of unrecognized prior service cost 0.0 0.1 0.0 0.1
Amortization of unrecognized net loss 0.1 0.1 0.2 0.2
Net periodic pension (benefit) cost (0.4) 0.5 (0.8) 0.5
Postretirement Benefits        
Components of net periodic costs        
Interest cost 0.2 0.3 0.4 0.6
Net periodic pension (benefit) cost $ 0.2 $ 0.3 $ 0.4 $ 0.6
v3.20.2
Employee Retirement and Postretirement Benefits - Additional Information (Details)
$ in Millions
Jun. 30, 2019
USD ($)
Retirement Benefits [Abstract]  
Settled withdrawal liability $ 4.1
v3.20.2
Commitments and Contingencies (Details)
$ in Millions
Mar. 10, 2020
Dec. 16, 2019
Jun. 30, 2020
USD ($)
complaint
Loss Contingencies [Line Items]      
Extension term 77 days 90 days  
Negrete v Ralcorp Holdings Inc et al      
Loss Contingencies [Line Items]      
Loss contingency, liability recognized     $ 9.0
Negrete v Ralcorp Holdings Inc et al | Pending Litigation      
Loss Contingencies [Line Items]      
Loss contingency, estimate of possible loss     $ 9.0
Class Actions Filed By Shareholders      
Loss Contingencies [Line Items]      
Loss contingency, number of claims | complaint     5
v3.20.2
Derivative Instruments - Additional Information (Details)
MW in Millions
 6 Months Ended
Jun. 30, 2020
USD ($)
MW
DTH
lb
gal
Dec. 31, 2025
Dec. 31, 2020
Interest Rate Swap Agreements | Scenario, Forecast      
Derivative [Line Items]      
Weighted average fixed interest rate   2.91% 2.68%
Interest Rate Swap Agreements | LIBOR Interest Rate      
Derivative [Line Items]      
Derivative notional amount | $ $ 875,000,000.0    
Foreign Currency Contracts      
Derivative [Line Items]      
Derivative notional amount | $ $ 100,000    
Derivative, expiration period throughout 2020    
Electricity Contract      
Derivative [Line Items]      
Derivative, expiration period throughout 2020 and 2021    
Derivative, nonmonetary notional amount | MW 0.1    
Diesel Contract      
Derivative [Line Items]      
Derivative, expiration period throughout 2020 and 2021    
Derivative, notional amount, volume (in gal) | gal 28,200,000    
Natural Gas Contract      
Derivative [Line Items]      
Derivative, expiration period throughout 2020 and 2021    
Derivative, nonmonetary notional amount | DTH 4,500,000    
Coffee Contract      
Derivative [Line Items]      
Derivative, expiration period throughout 2020 and 2021    
Derivative, notional amount, mass (in lbs) | lb 5,300,000    
Resin Contract      
Derivative [Line Items]      
Derivative, expiration period throughout 2020 and 2021    
Derivative, notional amount, mass (in lbs) | lb 32,700,000    
v3.20.2
Derivative Instruments - Derivative, Fair Value, and Location on Condensed Consolidated Balance Sheets (Details) - USD ($)
$ in Millions
Jun. 30, 2020
Dec. 31, 2019
Derivatives, Fair Value [Line Items]    
Asset derivative, fair value $ 2.4 $ 1.6
Liability derivative, fair value 117.8 57.2
Commodity contracts    
Derivatives, Fair Value [Line Items]    
Asset derivative, fair value 2.4 0.8
Liability derivative, fair value 6.2 0.6
Foreign currency contracts    
Derivatives, Fair Value [Line Items]    
Liability derivative, fair value 0.0 0.1
Interest rate swap agreements    
Derivatives, Fair Value [Line Items]    
Asset derivative, fair value 0.0 0.8
Liability derivative, fair value $ 111.6 $ 56.5
v3.20.2
Derivative Instruments - Gains and Losses on Derivative Contracts (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Derivative Instruments, Gain (Loss) [Line Items]        
Mark to market unrealized (loss) gain, derivative     $ (59.8) $ (41.2)
Total unrealized gain (loss) $ 4.3 $ (25.3) (59.8) (41.2)
Total realized (loss) gain (9.2) 3.1 (11.4) 6.3
Total loss (4.9) (22.2) (71.2) (34.9)
Commodity contracts | Other (income) expense, net        
Derivative Instruments, Gain (Loss) [Line Items]        
Mark to market unrealized (loss) gain, commodity 8.5 (2.7) (4.1) (1.0)
Commodity contracts | Manufacturing related to Cost of sales and transportation related to Selling and distribution        
Derivative Instruments, Gain (Loss) [Line Items]        
Total realized (loss) gain (4.2) 0.8 (5.7) 1.3
Foreign currency contracts | Other (income) expense, net        
Derivative Instruments, Gain (Loss) [Line Items]        
Mark to market unrealized (loss) gain, derivative (0.4) (0.5) 0.1 (1.8)
Foreign currency contracts | Cost of sales        
Derivative Instruments, Gain (Loss) [Line Items]        
Total realized (loss) gain 0.3 0.3 0.4 0.6
Interest rate swap agreements | Other (income) expense, net        
Derivative Instruments, Gain (Loss) [Line Items]        
Mark to market unrealized (loss) gain, derivative (3.8) (22.1) (55.8) (38.4)
Interest rate swap agreements | Interest expense        
Derivative Instruments, Gain (Loss) [Line Items]        
Total realized (loss) gain $ (5.3) $ 2.0 $ (6.1) $ 4.4
v3.20.2
Segment Information - Financial Information Relating to Reportable Segments (Details)
$ in Millions
 3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2020
USD ($)
Jun. 30, 2019
USD ($)
Jun. 30, 2020
USD ($)
segment
Jun. 30, 2019
USD ($)
Dec. 31, 2019
segment
Segment Reporting Information [Line Items]          
Number of operating segments | segment     2   3
Net sales $ 1,041.9 $ 1,025.3 $ 2,126.8 $ 2,092.1  
Direct operating income 154.8 136.3 289.2 274.0  
Unallocated cost of sales (850.7) (836.1) (1,740.7) (1,706.7)  
Operating income (loss) 25.3 (7.9) 55.5 7.6  
Meal Preparation          
Segment Reporting Information [Line Items]          
Net sales 667.7 657.5 1,341.3 1,328.2  
Direct operating income 102.3 90.3 188.6 181.1  
Snacking & Beverages          
Segment Reporting Information [Line Items]          
Net sales 374.2 367.8 785.5 763.9  
Direct operating income 52.5 46.0 100.6 92.9  
Unallocated Amount to Segment          
Segment Reporting Information [Line Items]          
Unallocated selling, general, and administrative expenses (82.5) (89.8) (153.9) (156.4)  
Unallocated cost of sales (17.7) (3.2) (14.5) (10.6)  
Unallocated corporate expense and other $ (29.3) $ (51.2) $ (65.3) $ (99.4)  
v3.20.2
Segment Information - Disaggregation of Revenue (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Disaggregation of Revenue [Line Items]        
Net sales $ 1,041.9 $ 1,025.3 $ 2,126.8 $ 2,092.1
Retail grocery        
Disaggregation of Revenue [Line Items]        
Net sales 880.6 807.7 1,766.1 1,662.6
Food-away-from-home        
Disaggregation of Revenue [Line Items]        
Net sales 48.1 91.2 122.1 176.6
Industrial, co-manufacturing, and other        
Disaggregation of Revenue [Line Items]        
Net sales 113.2 126.4 238.6 252.9
Meal Preparation        
Disaggregation of Revenue [Line Items]        
Net sales 667.7 657.5 1,341.3 1,328.2
Meal Preparation | Center store grocery        
Disaggregation of Revenue [Line Items]        
Net sales 413.3 455.1 845.3 898.3
Meal Preparation | Main course        
Disaggregation of Revenue [Line Items]        
Net sales 254.4 202.4 496.0 429.9
Snacking & Beverages        
Disaggregation of Revenue [Line Items]        
Net sales 374.2 367.8 785.5 763.9
Snacking & Beverages | Sweet & savory snacks        
Disaggregation of Revenue [Line Items]        
Net sales 273.2 291.9 578.2 598.1
Snacking & Beverages | Beverages & drink mixes        
Disaggregation of Revenue [Line Items]        
Net sales $ 101.0 $ 75.9 $ 207.3 $ 165.8
v3.20.2
Label Element Value
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability us-gaap_RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability $ 252,500,000