JM Smucker Processed & Packaged Goods

1. JM SmuckerProcessed & Packaged Goods Connor Myers

2. “With a name like Smucker’s, it has to be good”

5. Background • Founded in 1897 in Orville, Ohio. • Full-Time Employees: 4,875 • Revenues of 5.72 Billion Dollars in 2013

6. Comparable Companies (Processed & Packaged Goods) • Starbucks (SBUX) • Green Mountain Coffee (GMCR) • Mondelez (MDLZ)

7. Note 1 • Use of Estimates • Revenue Recognition • Risks and Uncertainties • Sales to Walmart make up 26% of JM Smucker’s net sales

8. Note 2: Acquisitions • Included information about recently acquired companies Sara Lee Corporation and Rowland Coffee • Note 3: Equity Method Investment • Acquired 25% equity interest in Seamild, a manufacturer and marketer of oat products • Note 4: Restructuring • Announced in 2010plans to restructure their coffee, fruit spreads, and Canadian pickle and condiments operations as part of an ongoing effort to enhance the long-term strength and profitability of leading brands • Note 6: Earnings Per Share • Note 11: Contingencies

9. Note 5: Reportable Segments

11. Note 7: Goodwill & Other Intangible Assets

12. Other Intangible Assets Expanded

13. Note 8: Post Retirement Benefits

14. Note 14: Income Taxes

15. Deferred Taxes

16. Deferred Taxes • Reported on Balance Sheet: Deferred tax asset: 0 Deferred tax liability: (987.2) Net: (987.2) • Reported on Footnote: Deferred tax asset: 160.9 Deferred tax liability: (1,123.4) (962.5) Implied Additional liability: (24.7) Total (987.2)