| Segments |
The following table presents information about the Company’s reportable segments: | | | | | | | | | | | | | | | | | | | | | | Successor | | Predecessor | | February 8 - December 29, 2013 |
| April 29 - June 7, 2013 | | April 28,
2013 | | April 29,
2012 | | April 27,
2011 | | (29 Weeks) |
| (6 Weeks) | | (52 Weeks) | | (52 1/2 Weeks) | | (52 Weeks) | | (In thousands) | | Net External Sales | North American Consumer Products | $ | 1,669,924 |
| | $ | 307,972 |
| | $ | 3,195,099 |
| | $ | 3,241,533 |
| | $ | 3,265,857 |
| Europe | 1,829,607 |
| | 284,657 |
| | 3,314,523 |
| | 3,441,282 |
| | 3,236,800 |
| Asia/Pacific | 1,328,488 |
| | 272,116 |
| | 2,533,334 |
| | 2,500,411 |
| | 2,247,193 |
| U.S. Foodservice | 772,598 |
| | 135,688 |
| | 1,370,779 |
| | 1,345,768 |
| | 1,339,100 |
| Rest of World | 638,945 |
| | 112,439 |
| | 1,115,151 |
| | 978,578 |
| | 469,686 |
| Consolidated Totals | $ | 6,239,562 |
| | $ | 1,112,872 |
| | $ | 11,528,886 |
| | $ | 11,507,572 |
| | $ | 10,558,636 |
| | Operating Income (Loss) | North American Consumer Products(a) | $ | 269,642 |
| | $ | 65,459 |
| | $ | 790,939 |
| | $ | 812,056 |
| | $ | 832,719 |
| Europe(a) | 195,235 |
| | 32,918 |
| | 593,044 |
| | 608,829 |
| | 581,148 |
| Asia/Pacific(a) | 11,833 |
| | 37,616 |
| | 265,879 |
| | 234,671 |
| | 253,524 |
| U.S. Foodservice(a) | 84,273 |
| | 15,531 |
| | 186,155 |
| | 169,843 |
| | 183,425 |
| Rest of World(a) | 74,238 |
| | 10,559 |
| | 112,660 |
| | 105,080 |
| | 53,371 |
| Other: | | | | | | | | | | Non-Operating(b) | (74,827 | ) | | (16,070 | ) | | (226,588 | ) | | (222,754 | ) | | (216,549 | ) | Fiscal 2013 special items(c) | — |
| | — |
| | (15,624 | ) | | — |
| | — |
| Restructuring and productivity initiatives(d) | (410,430 | ) | | (6,042 | ) | | — |
| | (205,418 | ) | | — |
| Merger related costs(e) | (157,938 | ) | | (112,188 | ) | | (44,814 | ) | | — |
| | — |
| Consolidated Totals | $ | (7,974 | ) | | $ | 27,783 |
| | $ | 1,661,651 |
| | $ | 1,502,307 |
| | $ | 1,687,638 |
| | Depreciation and Amortization Expenses | Total North America | $ | 153,402 |
| | $ | 16,162 |
| | $ | 126,859 |
| | $ | 131,023 |
| | $ | 121,480 |
| Europe | 62,044 |
| | 9,976 |
| | 98,806 |
| | 98,384 |
| | 91,222 |
| Asia/Pacific | 41,009 |
| | 7,311 |
| | 62,233 |
| | 59,796 |
| | 49,802 |
| Rest of World | 11,256 |
| | 2,520 |
| | 22,836 |
| | 19,290 |
| | 6,324 |
| Non-Operating(b) | 41,342 |
| | 5,054 |
| | 35,898 |
| | 28,428 |
| | 23,971 |
| Consolidated Totals | $ | 309,053 |
| | $ | 41,023 |
| | $ | 346,632 |
| | $ | 336,921 |
| | $ | 292,799 |
|
| | | | | | | | | | | | | | Successor | | Predecessor | | December 29, 2013 | | April 28, 2013
FY 2013 | | April 29, 2012
FY 2012 | | Identifiable Assets | | (In thousands) | Total North America | $ | 14,486,939 |
| | $ | 3,289,900 |
| | $ | 3,394,387 |
| Europe | 11,673,072 |
| | 5,129,880 |
| | 4,158,349 |
| Asia/Pacific | 4,039,589 |
| | 2,670,376 |
| | 2,544,332 |
| Rest of World | 1,336,733 |
| | 1,123,407 |
| | 1,145,696 |
| Non-Operating(g) | 7,436,015 |
| | 725,444 |
| | 740,529 |
| Consolidated Totals | $ | 38,972,348 |
| | $ | 12,939,007 |
| | $ | 11,983,293 |
|
| | | | | | | | | | | | | | | | | | | | | | Successor | | Predecessor | | February 8 - December 29, 2013 | | April 29 - June 7, 2013 | | April 28,
2013 | | April 29,
2012 | | April 27,
2011 | | (29 Weeks) | | (6 Weeks) | | (52 Weeks) | | (52 1/2 Weeks) | | (52 Weeks) | | Capital Expenditures(f) | | (In thousands) | Total North America | $ | 47,060 |
| | $ | 10,050 |
| | $ | 107,207 |
| | $ | 103,958 |
| | $ | 101,001 |
| Europe | 45,121 |
| | 4,537 |
| | 96,112 |
| | 113,420 |
| | 97,964 |
| Asia/Pacific | 47,209 |
| | 3,389 |
| | 91,361 |
| | 99,912 |
| | 71,419 |
| Rest of World | 15,720 |
| | 2,960 |
| | 48,747 |
| | 38,539 |
| | 12,829 |
| Non-Operating(b) | 46,905 |
| | 99,218 |
| | 55,671 |
| | 62,905 |
| | 52,433 |
| Consolidated Totals | $ | 202,015 |
| | $ | 120,154 |
| | $ | 399,098 |
| | $ | 418,734 |
| | $ | 335,646 |
|
| | (a) | The negative impact of the inventory step-up adjustment recorded in purchase accounting to operating income in the Successor period was $139.8 million for North American Consumer Products, $110.3 million for Europe, $89.6 million for Asia/Pacific, $33.8 million for U.S. Foodservice and $9.8 million for Rest of World. |
| | (b) | Includes corporate overhead, intercompany eliminations and charges not directly attributable to operating segments. |
| | (c) | During the fourth quarter of Fiscal 2013, the Company closed a factory in South Africa resulting in a $3.5 million in costs of products sold primarily related to asset write-downs. During the third quarter of Fiscal 2013, the Company renegotiated the terms of the Foodstar Holdings Pte earn-out that was due in 2014 resulting in a $12.1 million charge in SG&A. See Note 13 for further explanation. |
| | (d) | See Note 7 for further details on restructuring and productivity initiatives. |
| | (e) | See Note 4 for further details on Merger related costs |
| | (f) | Excludes property, plant and equipment obtained through acquisitions. |
| | (g) | Includes identifiable assets not directly attributable to operating segments. |
|
| Revenue from External Customers by Products and Services |
The Company’s revenues are generated via the sale of products in the following categories: | | | | | | | | | | | | | | | | | | | | | | Successor | | Predecessor | | February 8 - December 29, 2013 |
| April 29 - June 7, 2013 |
| April 28,
2013 |
| April 29,
2012 |
| April 27,
2011 | | (29 Weeks) | | (6 Weeks) | | (52 Weeks) | | (52 1/2 Weeks) | | (52 Weeks) | | Net External Sales | | (In thousands) | Ketchup and Sauces | $ | 3,081,347 |
| | $ | 533,932 |
| | $ | 5,375,788 |
| | $ | 5,232,607 |
| | $ | 4,607,326 |
| Meals and Snacks | 2,185,831 |
| | 359,412 |
| | 4,240,808 |
| | 4,337,995 |
| | 4,134,836 |
| Infant/Nutrition | 624,359 |
| | 118,528 |
| | 1,189,015 |
| | 1,232,248 |
| | 1,175,438 |
| Other | 348,025 |
| | 101,000 |
| | 723,275 |
| | 704,722 |
| | 641,036 |
| Total | $ | 6,239,562 |
| | $ | 1,112,872 |
| | $ | 11,528,886 |
| | $ | 11,507,572 |
| | $ | 10,558,636 |
|
|
| Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas |
The Company has significant sales and long-lived assets in the following geographic areas. Sales are based on the location in which the sale originated. Long-lived assets include property, plant and equipment, goodwill, trademarks and other intangibles, net of related depreciation and amortization. | | | | | | | | | | | | | | | | | | | | | | Successor | | Predecessor | | February 8 - December 29, 2013 |
| April 29 - June 7, 2013 |
| April 28,
2013 |
| April 29,
2012 |
| April 27,
2011 | | (29 Weeks) | | (6 Weeks) | | (52 Weeks) | | (52 1/2 Weeks) | | (52 Weeks) | | Net External Sales | | (In thousands) | United States | $ | 2,072,049 |
| | $ | 371,253 |
| | $ | 3,857,247 |
| | $ | 3,885,057 |
| | $ | 3,916,988 |
| United Kingdom | 859,512 |
| | 130,741 |
| | 1,597,755 |
| | 1,611,177 |
| | 1,506,607 |
| Other | 3,308,001 |
| | 610,878 |
| | 6,073,884 |
| | 6,011,338 |
| | 5,135,041 |
| Total | $ | 6,239,562 |
| | $ | 1,112,872 |
| | $ | 11,528,886 |
| | $ | 11,507,572 |
| | $ | 10,558,636 |
|
| | | | | | | | | | | | | | Successor | | Predecessor | | December 29, 2013 | | April 28, 2013
FY 2013 | | April 29, 2012
FY 2012 | | Long-Lived Assets | | (In thousands) | United States | $ | 16,280,596 |
| | $ | 2,383,136 |
| | $ | 2,419,518 |
| United Kingdom | 6,999,989 |
| | 1,133,086 |
| | 1,207,918 |
| Other | 8,942,514 |
| | 3,437,299 |
| | 3,540,923 |
| Total | $ | 32,223,099 |
| | $ | 6,953,521 |
| | $ | 7,168,359 |
|
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