Income-statement, balance-sheet and cash-flow figures from SEC filings, plus a debt profile anchored in the latest 10-K and updated by each 10-Q and debt exhibit.
d Depreciation & amortization is the sum of the reported depreciation and the reported amortization of intangible assets where the filer tags no total. Italic rows are computed from reported lines — open a row's info icon for its formula. Values reflect the latest filing (restatements included); per-share figures on today's split basis. Click a value for its source filing.
TTM: trailing twelve months through the latest reported quarter — flows sum the last four quarters, balances take the latest. 3Y/5Y/10Y columns are trailing CAGR from the newest fiscal year; blank where an endpoint is missing or negative. (G): the company's own guidance — a (G) column is a guided period not yet reported; a G marker shows how the reported figure landed against the guided range. Non-GAAP-basis guidance (*) is shown as stated and never judged against GAAP actuals.
Capital Returned to Shareholders
Cash spent on share repurchases and dividends per fiscal year, as reported on the cash-flow statement.
Across FY2009–FY2026: $4.2B in buybacks, $5.79B in dividends.
Debt Profile
Reported borrowing balances, repayment dates and agreement terms, with links to the underlying filings.
2 filing observations remain unmatched and are excluded from instrument histories.
Instrument and agreement coverage is incomplete. Additional filings are awaiting review.
6 filings have incomplete source or extraction coverage. Verified observations are shown; missing observations do not establish that debt was unchanged. 1 legal exhibit was not safely readable, so covenant coverage is incomplete.
Covenants
Some sections could not be verified in 1 agreement document. Other restrictions or tests may apply.
Verified tests, triggers and restrictions appear with each agreement below. A verified term does not establish current compliance.
Loans, facilities and notes
2.125% Notes due 2032
Note · The J. M. Smucker Company
Reference: 2.125% Notes due 2032
Active
Original principal
USD 500,000,000
Outstanding
—
Commitment
—
Availability
—
Maturity
—
Last reported interest terms:
2.125%
Reported 2021-09-24Later filings may not restate these terms; this does not confirm they still apply.
Covenant terms for this agreement are not yet verified.
On September 21, 2021, The J. M. Smucker Company (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with BofA Securities, Inc. and J.P. Morgan Securities LLC, as representatives for the underwriters named in Schedule 1 annexed thereto (the “Underwriters”), providing for the offer and sale by the Company of $500.0 million aggregate principal amount of 2.125% Notes due 2032 (the “2032 Notes”) and $300.0 million aggregate principal amount of 2.750% Notes due 2041 (the “2041 Notes” and, together with the 2032 Notes, the “Securities”).
Issuer evidence: On September 21, 2021, The J. M. Smucker Company (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with BofA Securities, Inc. and J.P. Morgan Securities LLC, as representatives for the underwriters named in Schedule 1 annexed thereto (the “Underwriters”), providing for the offer and sale by the Company of $500.0 million aggregate principal amount of 2.125% Notes due 2032 (the “2032 Notes”) and $300.0 million aggregate principal amount of 2.750% Notes due 2041 (the “2041 Notes” and, together with the 2032 Notes, the “Securities”).
Supporting evidence: On September 21, 2021, The J. M. Smucker Company (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with BofA Securities, Inc. and J.P. Morgan Securities LLC, as representatives for the underwriters named in Schedule 1 annexed thereto (the “Underwriters”), providing for the offer and sale by the Company of $500.0 million aggregate principal amount of 2.125% Notes due 2032 (the “2032 Notes”) and $300.0 million aggregate principal amount of 2.750% Notes due 2041 (the “2041 Notes” and, together with the 2032 Notes, the “Securities”).
2.375% Notes due 2030
Note · The J. M. Smucker Company
Reference: 2.375% Notes due 2030
Active
Original principal
USD 500,000,000
Outstanding
—
Commitment
—
Availability
—
Maturity
—
Last reported interest terms:
2.375%
Reported 2020-03-09Later filings may not restate these terms; this does not confirm they still apply.
Verified covenant terms
Section 3.01(b) · Change of Control Triggering Event(b) Unless the Company has exercised its right to redeem the Notes of a series, within 30 days following the date upon which the Change of Control Triggering Event occurs with respect to the Notes of such series, or at the Company’s option, prior to any Change of Control but after the public announcement of the pending Change of Control, the Company shall be required to send, by first class mail, a notice to each Holder of Notes of such series, with a copy to the Trustee, which notice shall describe the…SpringingTrigger: the date upon which the Change of Control Triggering Event occurs with respect to the Notes of such seriesExceptions: Unless the Company has exercised its right to redeem the Notes of a seriesDefined terms:
Change of Control Triggering Event: the occurrence of both a Change of Control and a Below Investment Grade Rating Event
Source evidence: “Change of Control Triggering Event” means the occurrence of both a Change of Control and a Below Investment Grade Rating Event.
Source evidence: (b) Unless the Company has exercised its right to redeem the Notes of a series, within 30 days following the date upon which the Change of Control Triggering Event occurs with respect to the Notes of such series, or at the Company’s option, prior to any Change of Control but after the public announcement of the pending Change of Control, the Company shall be required to send, by first class mail, a notice to each Holder of Notes of such series, with a copy to the Trustee, which notice shall describe the terms of the Change of Control Offer. Such notice shall state, among other things, the transaction or transactions that constitute or may constitute the Change of Control and an offer to repurchase the Notes of such series and the purchase date, which must be no earlier than 30 days and no later than 60 days from the date such notice is mailed, other than as may be required by law (the “Change of Control Payment Date”). The notice, if mailed prior to the date of consummation of the Change of Control, shall state that the Change of Control Offer is conditioned on the Change of Control Triggering Event occurring on or prior to the Change of Control Payment Date.
Target identity evidence: This THIRD SUPPLEMENTAL INDENTURE, dated as of March 9, 2020 (this “Third Supplemental Indenture”), by and between THE J. M. SMUCKER COMPANY, an Ohio corporation (the “Company”) and U.S. BANK NATIONAL ASSOCIATION, a national banking association, as trustee (as defined in the Indenture, the “Trustee”), to the Indenture, dated as of March 20, 2015 (the “Base Indenture” and, as supplemented by this Third Supplemental Indenture, the “Indenture”), by and between the Company and the Trustee.
Target identity evidence: WHEREAS, the Company desires and has requested the Trustee to join it in the execution and delivery of this Third Supplemental Indenture in order to establish and provide for the issuance by the Company of each of the following new series of Securities: 2.375% Notes due 2030 (the “2030 Notes”) and 3.550% Notes due 2050 (the “2050 Notes” and together with the 2030 Notes, the “Notes”), on the terms set forth herein;
Target scope evidence: The following covenants shall apply in addition to the covenants set forth in the Indenture, solely as it relates to the Notes and solely for the benefit of the Holders of the Notes:
Section 3.01(e) · Change of Control Triggering EventThe Company shall comply in all material respects with the requirements of Rule 14e-1 under the Exchange Act, and any other securities laws and regulations thereunder to the extent those laws and regulations are applicable in connection with the repurchase of the Notes as a result of a Change of Control Triggering Event.SpringingTrigger: the repurchase of the Notes as a result of a Change of Control Triggering EventExceptions: To the extent that the provisions of any such securities laws or regulations conflict with the provisions of this Section 3.01, the Company shall comply with those securities laws and regulations and shall not be deemed to have breached its obligations under this Section 3.01 by virtue of any such conflicts.Defined terms:
Change of Control Triggering Event: the occurrence of both a Change of Control and a Below Investment Grade Rating Event
Source evidence: “Change of Control Triggering Event” means the occurrence of both a Change of Control and a Below Investment Grade Rating Event.
Source evidence: (e) The Company shall comply in all material respects with the requirements of Rule 14e-1 under the Exchange Act, and any other securities laws and regulations thereunder to the extent those laws and regulations are applicable in connection with the repurchase of the Notes as a result of a Change of Control Triggering Event. To the extent that the provisions of any such securities laws or regulations conflict with the provisions of this Section 3.01, the Company shall comply with those securities laws and regulations and shall not be deemed to have breached its obligations under this Section 3.01 by virtue of any such conflicts.
Target identity evidence: This THIRD SUPPLEMENTAL INDENTURE, dated as of March 9, 2020 (this “Third Supplemental Indenture”), by and between THE J. M. SMUCKER COMPANY, an Ohio corporation (the “Company”) and U.S. BANK NATIONAL ASSOCIATION, a national banking association, as trustee (as defined in the Indenture, the “Trustee”), to the Indenture, dated as of March 20, 2015 (the “Base Indenture” and, as supplemented by this Third Supplemental Indenture, the “Indenture”), by and between the Company and the Trustee.
Target identity evidence: WHEREAS, the Company desires and has requested the Trustee to join it in the execution and delivery of this Third Supplemental Indenture in order to establish and provide for the issuance by the Company of each of the following new series of Securities: 2.375% Notes due 2030 (the “2030 Notes”) and 3.550% Notes due 2050 (the “2050 Notes” and together with the 2030 Notes, the “Notes”), on the terms set forth herein;
Target scope evidence: The following covenants shall apply in addition to the covenants set forth in the Indenture, solely as it relates to the Notes and solely for the benefit of the Holders of the Notes:
Section 3.01(a) · Change of Control Triggering EventUpon the occurrence of a Change of Control Triggering Event with respect to a series of Notes, unless the Company has exercised its right to redeem the Notes of such series pursuant to Section 5.01 of this Third Supplemental Indenture by giving irrevocable notice to the Trustee in accordance with the Indenture, each Holder of Notes of such series shall have the right to require the Company to purchase all or a portion of such Holder’s Notes of such series pursuant to the offer described in this Section 3.01SpringingTrigger: Upon the occurrence of a Change of Control Triggering Event with respect to a series of NotesExceptions: unless the Company has exercised its right to redeem the Notes of such series pursuant to Section 5.01 of this Third Supplemental Indenture by giving irrevocable notice to the Trustee in accordance with the IndentureDefined terms:
Change of Control Payment: 101% of the aggregate principal amount thereof plus accrued and unpaid interest, if any, to but not including the date of purchase
Source evidence: at a purchase price equal to 101% of the aggregate principal amount thereof plus accrued and unpaid interest, if any, to but not including the date of purchase (the “Change of Control Payment”)
Change of Control Triggering Event: the occurrence of both a Change of Control and a Below Investment Grade Rating Event
Source evidence: “Change of Control Triggering Event” means the occurrence of both a Change of Control and a Below Investment Grade Rating Event.
Source evidence: (a) Upon the occurrence of a Change of Control Triggering Event with respect to a series of Notes, unless the Company has exercised its right to redeem the Notes of such series pursuant to Section 5.01 of this Third Supplemental Indenture by giving irrevocable notice to the Trustee in accordance with the Indenture, each Holder of Notes of such series shall have the right to require the Company to purchase all or a portion of such Holder’s Notes of such series pursuant to the offer described in this Section 3.01 (the “Change of Control Offer”), at a purchase price equal to 101% of the aggregate principal amount thereof plus accrued and unpaid interest, if any, to but not including the date of purchase (the “Change of Control Payment”), subject to the rights of Holders of Notes of such series on the relevant record date to receive interest due on the relevant interest payment date.
Target identity evidence: This THIRD SUPPLEMENTAL INDENTURE, dated as of March 9, 2020 (this “Third Supplemental Indenture”), by and between THE J. M. SMUCKER COMPANY, an Ohio corporation (the “Company”) and U.S. BANK NATIONAL ASSOCIATION, a national banking association, as trustee (as defined in the Indenture, the “Trustee”), to the Indenture, dated as of March 20, 2015 (the “Base Indenture” and, as supplemented by this Third Supplemental Indenture, the “Indenture”), by and between the Company and the Trustee.
Target identity evidence: WHEREAS, the Company desires and has requested the Trustee to join it in the execution and delivery of this Third Supplemental Indenture in order to establish and provide for the issuance by the Company of each of the following new series of Securities: 2.375% Notes due 2030 (the “2030 Notes”) and 3.550% Notes due 2050 (the “2050 Notes” and together with the 2030 Notes, the “Notes”), on the terms set forth herein;
Target scope evidence: The following covenants shall apply in addition to the covenants set forth in the Indenture, solely as it relates to the Notes and solely for the benefit of the Holders of the Notes:
On March 4, 2020, The J. M. Smucker Company (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with BofA Securities, Inc. and J.P. Morgan Securities LLC, as representatives for the underwriters named in Schedule 1 annexed thereto (the “Underwriters”), providing for the offer and sale by the Company of $500.0 million aggregate principal amount of 2.375% Notes due 2030 (the “2030 Notes”) and $300.0 million aggregate principal amount of 3.550% Notes due 2050 (the “2050 Notes” and, together with the 2030 Notes, the “Securities”).
Issuer evidence: On March 4, 2020, The J. M. Smucker Company (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with BofA Securities, Inc. and J.P. Morgan Securities LLC, as representatives for the underwriters named in Schedule 1 annexed thereto (the “Underwriters”), providing for the offer and sale by the Company of $500.0 million aggregate principal amount of 2.375% Notes due 2030 (the “2030 Notes”) and $300.0 million aggregate principal amount of 3.550% Notes due 2050 (the “2050 Notes” and, together with the 2030 Notes, the “Securities”).
Supporting evidence: On March 4, 2020, The J. M. Smucker Company (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with BofA Securities, Inc. and J.P. Morgan Securities LLC, as representatives for the underwriters named in Schedule 1 annexed thereto (the “Underwriters”), providing for the offer and sale by the Company of $500.0 million aggregate principal amount of 2.375% Notes due 2030 (the “2030 Notes”) and $300.0 million aggregate principal amount of 3.550% Notes due 2050 (the “2050 Notes” and, together with the 2030 Notes, the “Securities”).
Supporting evidence: On March 4, 2020, The J. M. Smucker Company (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with BofA Securities, Inc. and J.P. Morgan Securities LLC, as representatives for the underwriters named in Schedule 1 annexed thereto (the “Underwriters”), providing for the offer and sale by the Company of $500.0 million aggregate principal amount of 2.375% Notes due 2030 (the “2030 Notes”) and $300.0 million aggregate principal amount of 3.550% Notes due 2050 (the “2050 Notes” and, together with the 2030 Notes, the “Securities”).
2.750% Notes due 2041
Note · The J. M. Smucker Company
Reference: 2.750% Notes due 2041
Active
Original principal
USD 300,000,000
Outstanding
—
Commitment
—
Availability
—
Maturity
—
Last reported interest terms:
2.75%
Reported 2021-09-24Later filings may not restate these terms; this does not confirm they still apply.
Covenant terms for this agreement are not yet verified.
On September 21, 2021, The J. M. Smucker Company (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with BofA Securities, Inc. and J.P. Morgan Securities LLC, as representatives for the underwriters named in Schedule 1 annexed thereto (the “Underwriters”), providing for the offer and sale by the Company of $500.0 million aggregate principal amount of 2.125% Notes due 2032 (the “2032 Notes”) and $300.0 million aggregate principal amount of 2.750% Notes due 2041 (the “2041 Notes” and, together with the 2032 Notes, the “Securities”).
Issuer evidence: On September 21, 2021, The J. M. Smucker Company (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with BofA Securities, Inc. and J.P. Morgan Securities LLC, as representatives for the underwriters named in Schedule 1 annexed thereto (the “Underwriters”), providing for the offer and sale by the Company of $500.0 million aggregate principal amount of 2.125% Notes due 2032 (the “2032 Notes”) and $300.0 million aggregate principal amount of 2.750% Notes due 2041 (the “2041 Notes” and, together with the 2032 Notes, the “Securities”).
Supporting evidence: On September 21, 2021, The J. M. Smucker Company (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with BofA Securities, Inc. and J.P. Morgan Securities LLC, as representatives for the underwriters named in Schedule 1 annexed thereto (the “Underwriters”), providing for the offer and sale by the Company of $500.0 million aggregate principal amount of 2.125% Notes due 2032 (the “2032 Notes”) and $300.0 million aggregate principal amount of 2.750% Notes due 2041 (the “2041 Notes” and, together with the 2032 Notes, the “Securities”).
3.550% Notes due 2050
Note · The J. M. Smucker Company
Reference: 3.550% Notes due 2050
Active
Original principal
USD 300,000,000
Outstanding
—
Commitment
—
Availability
—
Maturity
—
Last reported interest terms:
3.55%
Reported 2020-03-09Later filings may not restate these terms; this does not confirm they still apply.
Verified covenant terms
Section 3.01(b) · Change of Control Triggering Event(b) Unless the Company has exercised its right to redeem the Notes of a series, within 30 days following the date upon which the Change of Control Triggering Event occurs with respect to the Notes of such series, or at the Company’s option, prior to any Change of Control but after the public announcement of the pending Change of Control, the Company shall be required to send, by first class mail, a notice to each Holder of Notes of such series, with a copy to the Trustee, which notice shall describe the…SpringingTrigger: the date upon which the Change of Control Triggering Event occurs with respect to the Notes of such seriesExceptions: Unless the Company has exercised its right to redeem the Notes of a seriesDefined terms:
Change of Control Triggering Event: the occurrence of both a Change of Control and a Below Investment Grade Rating Event
Source evidence: “Change of Control Triggering Event” means the occurrence of both a Change of Control and a Below Investment Grade Rating Event.
Source evidence: (b) Unless the Company has exercised its right to redeem the Notes of a series, within 30 days following the date upon which the Change of Control Triggering Event occurs with respect to the Notes of such series, or at the Company’s option, prior to any Change of Control but after the public announcement of the pending Change of Control, the Company shall be required to send, by first class mail, a notice to each Holder of Notes of such series, with a copy to the Trustee, which notice shall describe the terms of the Change of Control Offer. Such notice shall state, among other things, the transaction or transactions that constitute or may constitute the Change of Control and an offer to repurchase the Notes of such series and the purchase date, which must be no earlier than 30 days and no later than 60 days from the date such notice is mailed, other than as may be required by law (the “Change of Control Payment Date”). The notice, if mailed prior to the date of consummation of the Change of Control, shall state that the Change of Control Offer is conditioned on the Change of Control Triggering Event occurring on or prior to the Change of Control Payment Date.
Target identity evidence: This THIRD SUPPLEMENTAL INDENTURE, dated as of March 9, 2020 (this “Third Supplemental Indenture”), by and between THE J. M. SMUCKER COMPANY, an Ohio corporation (the “Company”) and U.S. BANK NATIONAL ASSOCIATION, a national banking association, as trustee (as defined in the Indenture, the “Trustee”), to the Indenture, dated as of March 20, 2015 (the “Base Indenture” and, as supplemented by this Third Supplemental Indenture, the “Indenture”), by and between the Company and the Trustee.
Target identity evidence: WHEREAS, the Company desires and has requested the Trustee to join it in the execution and delivery of this Third Supplemental Indenture in order to establish and provide for the issuance by the Company of each of the following new series of Securities: 2.375% Notes due 2030 (the “2030 Notes”) and 3.550% Notes due 2050 (the “2050 Notes” and together with the 2030 Notes, the “Notes”), on the terms set forth herein;
Target scope evidence: The following covenants shall apply in addition to the covenants set forth in the Indenture, solely as it relates to the Notes and solely for the benefit of the Holders of the Notes:
Section 3.01(e) · Change of Control Triggering EventThe Company shall comply in all material respects with the requirements of Rule 14e-1 under the Exchange Act, and any other securities laws and regulations thereunder to the extent those laws and regulations are applicable in connection with the repurchase of the Notes as a result of a Change of Control Triggering Event.SpringingTrigger: the repurchase of the Notes as a result of a Change of Control Triggering EventExceptions: To the extent that the provisions of any such securities laws or regulations conflict with the provisions of this Section 3.01, the Company shall comply with those securities laws and regulations and shall not be deemed to have breached its obligations under this Section 3.01 by virtue of any such conflicts.Defined terms:
Change of Control Triggering Event: the occurrence of both a Change of Control and a Below Investment Grade Rating Event
Source evidence: “Change of Control Triggering Event” means the occurrence of both a Change of Control and a Below Investment Grade Rating Event.
Source evidence: (e) The Company shall comply in all material respects with the requirements of Rule 14e-1 under the Exchange Act, and any other securities laws and regulations thereunder to the extent those laws and regulations are applicable in connection with the repurchase of the Notes as a result of a Change of Control Triggering Event. To the extent that the provisions of any such securities laws or regulations conflict with the provisions of this Section 3.01, the Company shall comply with those securities laws and regulations and shall not be deemed to have breached its obligations under this Section 3.01 by virtue of any such conflicts.
Target identity evidence: This THIRD SUPPLEMENTAL INDENTURE, dated as of March 9, 2020 (this “Third Supplemental Indenture”), by and between THE J. M. SMUCKER COMPANY, an Ohio corporation (the “Company”) and U.S. BANK NATIONAL ASSOCIATION, a national banking association, as trustee (as defined in the Indenture, the “Trustee”), to the Indenture, dated as of March 20, 2015 (the “Base Indenture” and, as supplemented by this Third Supplemental Indenture, the “Indenture”), by and between the Company and the Trustee.
Target identity evidence: WHEREAS, the Company desires and has requested the Trustee to join it in the execution and delivery of this Third Supplemental Indenture in order to establish and provide for the issuance by the Company of each of the following new series of Securities: 2.375% Notes due 2030 (the “2030 Notes”) and 3.550% Notes due 2050 (the “2050 Notes” and together with the 2030 Notes, the “Notes”), on the terms set forth herein;
Target scope evidence: The following covenants shall apply in addition to the covenants set forth in the Indenture, solely as it relates to the Notes and solely for the benefit of the Holders of the Notes:
Section 3.01(a) · Change of Control Triggering EventUpon the occurrence of a Change of Control Triggering Event with respect to a series of Notes, unless the Company has exercised its right to redeem the Notes of such series pursuant to Section 5.01 of this Third Supplemental Indenture by giving irrevocable notice to the Trustee in accordance with the Indenture, each Holder of Notes of such series shall have the right to require the Company to purchase all or a portion of such Holder’s Notes of such series pursuant to the offer described in this Section 3.01SpringingTrigger: Upon the occurrence of a Change of Control Triggering Event with respect to a series of NotesExceptions: unless the Company has exercised its right to redeem the Notes of such series pursuant to Section 5.01 of this Third Supplemental Indenture by giving irrevocable notice to the Trustee in accordance with the IndentureDefined terms:
Change of Control Payment: 101% of the aggregate principal amount thereof plus accrued and unpaid interest, if any, to but not including the date of purchase
Source evidence: at a purchase price equal to 101% of the aggregate principal amount thereof plus accrued and unpaid interest, if any, to but not including the date of purchase (the “Change of Control Payment”)
Change of Control Triggering Event: the occurrence of both a Change of Control and a Below Investment Grade Rating Event
Source evidence: “Change of Control Triggering Event” means the occurrence of both a Change of Control and a Below Investment Grade Rating Event.
Source evidence: (a) Upon the occurrence of a Change of Control Triggering Event with respect to a series of Notes, unless the Company has exercised its right to redeem the Notes of such series pursuant to Section 5.01 of this Third Supplemental Indenture by giving irrevocable notice to the Trustee in accordance with the Indenture, each Holder of Notes of such series shall have the right to require the Company to purchase all or a portion of such Holder’s Notes of such series pursuant to the offer described in this Section 3.01 (the “Change of Control Offer”), at a purchase price equal to 101% of the aggregate principal amount thereof plus accrued and unpaid interest, if any, to but not including the date of purchase (the “Change of Control Payment”), subject to the rights of Holders of Notes of such series on the relevant record date to receive interest due on the relevant interest payment date.
Target identity evidence: This THIRD SUPPLEMENTAL INDENTURE, dated as of March 9, 2020 (this “Third Supplemental Indenture”), by and between THE J. M. SMUCKER COMPANY, an Ohio corporation (the “Company”) and U.S. BANK NATIONAL ASSOCIATION, a national banking association, as trustee (as defined in the Indenture, the “Trustee”), to the Indenture, dated as of March 20, 2015 (the “Base Indenture” and, as supplemented by this Third Supplemental Indenture, the “Indenture”), by and between the Company and the Trustee.
Target identity evidence: WHEREAS, the Company desires and has requested the Trustee to join it in the execution and delivery of this Third Supplemental Indenture in order to establish and provide for the issuance by the Company of each of the following new series of Securities: 2.375% Notes due 2030 (the “2030 Notes”) and 3.550% Notes due 2050 (the “2050 Notes” and together with the 2030 Notes, the “Notes”), on the terms set forth herein;
Target scope evidence: The following covenants shall apply in addition to the covenants set forth in the Indenture, solely as it relates to the Notes and solely for the benefit of the Holders of the Notes:
On March 4, 2020, The J. M. Smucker Company (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with BofA Securities, Inc. and J.P. Morgan Securities LLC, as representatives for the underwriters named in Schedule 1 annexed thereto (the “Underwriters”), providing for the offer and sale by the Company of $500.0 million aggregate principal amount of 2.375% Notes due 2030 (the “2030 Notes”) and $300.0 million aggregate principal amount of 3.550% Notes due 2050 (the “2050 Notes” and, together with the 2030 Notes, the “Securities”).
Issuer evidence: On March 4, 2020, The J. M. Smucker Company (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with BofA Securities, Inc. and J.P. Morgan Securities LLC, as representatives for the underwriters named in Schedule 1 annexed thereto (the “Underwriters”), providing for the offer and sale by the Company of $500.0 million aggregate principal amount of 2.375% Notes due 2030 (the “2030 Notes”) and $300.0 million aggregate principal amount of 3.550% Notes due 2050 (the “2050 Notes” and, together with the 2030 Notes, the “Securities”).
Supporting evidence: On March 4, 2020, The J. M. Smucker Company (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with BofA Securities, Inc. and J.P. Morgan Securities LLC, as representatives for the underwriters named in Schedule 1 annexed thereto (the “Underwriters”), providing for the offer and sale by the Company of $500.0 million aggregate principal amount of 2.375% Notes due 2030 (the “2030 Notes”) and $300.0 million aggregate principal amount of 3.550% Notes due 2050 (the “2050 Notes” and, together with the 2030 Notes, the “Securities”).
Supporting evidence: On March 4, 2020, The J. M. Smucker Company (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with BofA Securities, Inc. and J.P. Morgan Securities LLC, as representatives for the underwriters named in Schedule 1 annexed thereto (the “Underwriters”), providing for the offer and sale by the Company of $500.0 million aggregate principal amount of 2.375% Notes due 2030 (the “2030 Notes”) and $300.0 million aggregate principal amount of 3.550% Notes due 2050 (the “2050 Notes” and, together with the 2030 Notes, the “Securities”).
Reported commitment:USD 5,200,000,000Reported 2023-09-12Disclosed facility capacity; the amount drawn and capacity available today are not established.
Covenant terms for this agreement are not yet verified.
In connection with its entry into the Merger Agreement, the Company obtained a commitment from Bank of America, N.A. and Royal Bank of Canada for a $5.2 billion 364-day senior unsecured bridge loan facility, subject to customary conditions.
Issuer evidence: On September 10, 2023, The J. M. Smucker Company, an Ohio Corporation (the “Company”), entered into an Agreement and Plan of Merger, dated as of September 10, 2023 (the “Merger Agreement”), by and among the Company, Hostess Brands, Inc., a Delaware corporation (“Hostess Brands”), and SSF Holdings, Inc., a Delaware corporation and wholly owned subsidiary of the Company (“Purchaser”).
Supporting evidence: In connection with its entry into the Merger Agreement, the Company obtained a commitment from Bank of America, N.A. and Royal Bank of Canada for a $5.2 billion 364-day senior unsecured bridge loan facility, subject to customary conditions.
5.900% Notes due 2028
Note · The J. M. Smucker Company
Reference: 5.900% Notes due 2028
Active
Original principal
USD 750,000,000
Outstanding
—
Commitment
—
Availability
—
Maturity
—
Last reported interest terms:
5.9%
Reported 2023-10-13Later filings may not restate these terms; this does not confirm they still apply.
Covenant terms for this agreement are not yet verified.
On October 11, 2023, The J. M. Smucker Company (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with BofA Securities, Inc. and J.P. Morgan Securities LLC, as representatives for the underwriters named in Schedule 1 annexed thereto (the “Underwriters”), providing for the offer and sale by the Company of $750 million aggregate principal amount of 5.900% Notes due 2028 (the “2028 Notes”), $1,000 million aggregate principal amount of 6.200% Notes due 2033 (the “2033 Notes”), $750 million aggregate principal amount of 6.500% Notes due 2043 (the “2043 Notes”), and $1,000 million aggregate principal amount of 6.500% Notes due 2053 (the “2053 Notes” and, together with the 2028 Notes, the 2033 Notes and the 2043 Notes, the “Securities”).
Issuer evidence: On October 11, 2023, The J. M. Smucker Company (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with BofA Securities, Inc. and J.P. Morgan Securities LLC, as representatives for the underwriters named in Schedule 1 annexed thereto (the “Underwriters”), providing for the offer and sale by the Company of $750 million aggregate principal amount of 5.900% Notes due 2028 (the “2028 Notes”), $1,000 million aggregate principal amount of 6.200% Notes due 2033 (the “2033 Notes”), $750 million aggregate principal amount of 6.500% Notes due 2043 (the “2043 Notes”), and $1,000 million aggregate principal amount of 6.500% Notes due 2053 (the “2053 Notes” and, together with the 2028 Notes, the 2033 Notes and the 2043 Notes, the “Securities”).
Supporting evidence: On October 11, 2023, The J. M. Smucker Company (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with BofA Securities, Inc. and J.P. Morgan Securities LLC, as representatives for the underwriters named in Schedule 1 annexed thereto (the “Underwriters”), providing for the offer and sale by the Company of $750 million aggregate principal amount of 5.900% Notes due 2028 (the “2028 Notes”), $1,000 million aggregate principal amount of 6.200% Notes due 2033 (the “2033 Notes”), $750 million aggregate principal amount of 6.500% Notes due 2043 (the “2043 Notes”), and $1,000 million aggregate principal amount of 6.500% Notes due 2053 (the “2053 Notes” and, together with the 2028 Notes, the 2033 Notes and the 2043 Notes, the “Securities”).
Supporting evidence: On October 11, 2023, The J. M. Smucker Company (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with BofA Securities, Inc. and J.P. Morgan Securities LLC, as representatives for the underwriters named in Schedule 1 annexed thereto (the “Underwriters”), providing for the offer and sale by the Company of $750 million aggregate principal amount of 5.900% Notes due 2028 (the “2028 Notes”), $1,000 million aggregate principal amount of 6.200% Notes due 2033 (the “2033 Notes”), $750 million aggregate principal amount of 6.500% Notes due 2043 (the “2043 Notes”), and $1,000 million aggregate principal amount of 6.500% Notes due 2053 (the “2053 Notes” and, together with the 2028 Notes, the 2033 Notes and the 2043 Notes, the “Securities”).
6.200% Notes due 2033
Note · The J. M. Smucker Company
Reference: 6.200% Notes due 2033
Active
Original principal
USD 1,000,000,000
Outstanding
—
Commitment
—
Availability
—
Maturity
—
Last reported interest terms:
6.2%
Reported 2023-10-13Later filings may not restate these terms; this does not confirm they still apply.
Covenant terms for this agreement are not yet verified.
On October 11, 2023, The J. M. Smucker Company (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with BofA Securities, Inc. and J.P. Morgan Securities LLC, as representatives for the underwriters named in Schedule 1 annexed thereto (the “Underwriters”), providing for the offer and sale by the Company of $750 million aggregate principal amount of 5.900% Notes due 2028 (the “2028 Notes”), $1,000 million aggregate principal amount of 6.200% Notes due 2033 (the “2033 Notes”), $750 million aggregate principal amount of 6.500% Notes due 2043 (the “2043 Notes”), and $1,000 million aggregate principal amount of 6.500% Notes due 2053 (the “2053 Notes” and, together with the 2028 Notes, the 2033 Notes and the 2043 Notes, the “Securities”).
Issuer evidence: On October 11, 2023, The J. M. Smucker Company (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with BofA Securities, Inc. and J.P. Morgan Securities LLC, as representatives for the underwriters named in Schedule 1 annexed thereto (the “Underwriters”), providing for the offer and sale by the Company of $750 million aggregate principal amount of 5.900% Notes due 2028 (the “2028 Notes”), $1,000 million aggregate principal amount of 6.200% Notes due 2033 (the “2033 Notes”), $750 million aggregate principal amount of 6.500% Notes due 2043 (the “2043 Notes”), and $1,000 million aggregate principal amount of 6.500% Notes due 2053 (the “2053 Notes” and, together with the 2028 Notes, the 2033 Notes and the 2043 Notes, the “Securities”).
Supporting evidence: On October 11, 2023, The J. M. Smucker Company (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with BofA Securities, Inc. and J.P. Morgan Securities LLC, as representatives for the underwriters named in Schedule 1 annexed thereto (the “Underwriters”), providing for the offer and sale by the Company of $750 million aggregate principal amount of 5.900% Notes due 2028 (the “2028 Notes”), $1,000 million aggregate principal amount of 6.200% Notes due 2033 (the “2033 Notes”), $750 million aggregate principal amount of 6.500% Notes due 2043 (the “2043 Notes”), and $1,000 million aggregate principal amount of 6.500% Notes due 2053 (the “2053 Notes” and, together with the 2028 Notes, the 2033 Notes and the 2043 Notes, the “Securities”).
Supporting evidence: On October 11, 2023, The J. M. Smucker Company (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with BofA Securities, Inc. and J.P. Morgan Securities LLC, as representatives for the underwriters named in Schedule 1 annexed thereto (the “Underwriters”), providing for the offer and sale by the Company of $750 million aggregate principal amount of 5.900% Notes due 2028 (the “2028 Notes”), $1,000 million aggregate principal amount of 6.200% Notes due 2033 (the “2033 Notes”), $750 million aggregate principal amount of 6.500% Notes due 2043 (the “2043 Notes”), and $1,000 million aggregate principal amount of 6.500% Notes due 2053 (the “2053 Notes” and, together with the 2028 Notes, the 2033 Notes and the 2043 Notes, the “Securities”).
6.500% Notes due 2043
Note · The J. M. Smucker Company
Reference: 6.500% Notes due 2043
Active
Original principal
USD 750,000,000
Outstanding
—
Commitment
—
Availability
—
Maturity
—
Last reported interest terms:
6.5%
Reported 2023-10-13Later filings may not restate these terms; this does not confirm they still apply.
Covenant terms for this agreement are not yet verified.
On October 11, 2023, The J. M. Smucker Company (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with BofA Securities, Inc. and J.P. Morgan Securities LLC, as representatives for the underwriters named in Schedule 1 annexed thereto (the “Underwriters”), providing for the offer and sale by the Company of $750 million aggregate principal amount of 5.900% Notes due 2028 (the “2028 Notes”), $1,000 million aggregate principal amount of 6.200% Notes due 2033 (the “2033 Notes”), $750 million aggregate principal amount of 6.500% Notes due 2043 (the “2043 Notes”), and $1,000 million aggregate principal amount of 6.500% Notes due 2053 (the “2053 Notes” and, together with the 2028 Notes, the 2033 Notes and the 2043 Notes, the “Securities”).
Issuer evidence: On October 11, 2023, The J. M. Smucker Company (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with BofA Securities, Inc. and J.P. Morgan Securities LLC, as representatives for the underwriters named in Schedule 1 annexed thereto (the “Underwriters”), providing for the offer and sale by the Company of $750 million aggregate principal amount of 5.900% Notes due 2028 (the “2028 Notes”), $1,000 million aggregate principal amount of 6.200% Notes due 2033 (the “2033 Notes”), $750 million aggregate principal amount of 6.500% Notes due 2043 (the “2043 Notes”), and $1,000 million aggregate principal amount of 6.500% Notes due 2053 (the “2053 Notes” and, together with the 2028 Notes, the 2033 Notes and the 2043 Notes, the “Securities”).
Supporting evidence: On October 11, 2023, The J. M. Smucker Company (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with BofA Securities, Inc. and J.P. Morgan Securities LLC, as representatives for the underwriters named in Schedule 1 annexed thereto (the “Underwriters”), providing for the offer and sale by the Company of $750 million aggregate principal amount of 5.900% Notes due 2028 (the “2028 Notes”), $1,000 million aggregate principal amount of 6.200% Notes due 2033 (the “2033 Notes”), $750 million aggregate principal amount of 6.500% Notes due 2043 (the “2043 Notes”), and $1,000 million aggregate principal amount of 6.500% Notes due 2053 (the “2053 Notes” and, together with the 2028 Notes, the 2033 Notes and the 2043 Notes, the “Securities”).
Supporting evidence: On October 11, 2023, The J. M. Smucker Company (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with BofA Securities, Inc. and J.P. Morgan Securities LLC, as representatives for the underwriters named in Schedule 1 annexed thereto (the “Underwriters”), providing for the offer and sale by the Company of $750 million aggregate principal amount of 5.900% Notes due 2028 (the “2028 Notes”), $1,000 million aggregate principal amount of 6.200% Notes due 2033 (the “2033 Notes”), $750 million aggregate principal amount of 6.500% Notes due 2043 (the “2043 Notes”), and $1,000 million aggregate principal amount of 6.500% Notes due 2053 (the “2053 Notes” and, together with the 2028 Notes, the 2033 Notes and the 2043 Notes, the “Securities”).
6.500% Notes due 2053
Note · The J. M. Smucker Company
Reference: 6.500% Notes due 2053
Active
Original principal
USD 1,000,000,000
Outstanding
—
Commitment
—
Availability
—
Maturity
—
Last reported interest terms:
6.5%
Reported 2023-10-13Later filings may not restate these terms; this does not confirm they still apply.
Covenant terms for this agreement are not yet verified.
On October 11, 2023, The J. M. Smucker Company (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with BofA Securities, Inc. and J.P. Morgan Securities LLC, as representatives for the underwriters named in Schedule 1 annexed thereto (the “Underwriters”), providing for the offer and sale by the Company of $750 million aggregate principal amount of 5.900% Notes due 2028 (the “2028 Notes”), $1,000 million aggregate principal amount of 6.200% Notes due 2033 (the “2033 Notes”), $750 million aggregate principal amount of 6.500% Notes due 2043 (the “2043 Notes”), and $1,000 million aggregate principal amount of 6.500% Notes due 2053 (the “2053 Notes” and, together with the 2028 Notes, the 2033 Notes and the 2043 Notes, the “Securities”).
Issuer evidence: On October 11, 2023, The J. M. Smucker Company (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with BofA Securities, Inc. and J.P. Morgan Securities LLC, as representatives for the underwriters named in Schedule 1 annexed thereto (the “Underwriters”), providing for the offer and sale by the Company of $750 million aggregate principal amount of 5.900% Notes due 2028 (the “2028 Notes”), $1,000 million aggregate principal amount of 6.200% Notes due 2033 (the “2033 Notes”), $750 million aggregate principal amount of 6.500% Notes due 2043 (the “2043 Notes”), and $1,000 million aggregate principal amount of 6.500% Notes due 2053 (the “2053 Notes” and, together with the 2028 Notes, the 2033 Notes and the 2043 Notes, the “Securities”).
Supporting evidence: On October 11, 2023, The J. M. Smucker Company (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with BofA Securities, Inc. and J.P. Morgan Securities LLC, as representatives for the underwriters named in Schedule 1 annexed thereto (the “Underwriters”), providing for the offer and sale by the Company of $750 million aggregate principal amount of 5.900% Notes due 2028 (the “2028 Notes”), $1,000 million aggregate principal amount of 6.200% Notes due 2033 (the “2033 Notes”), $750 million aggregate principal amount of 6.500% Notes due 2043 (the “2043 Notes”), and $1,000 million aggregate principal amount of 6.500% Notes due 2053 (the “2053 Notes” and, together with the 2028 Notes, the 2033 Notes and the 2043 Notes, the “Securities”).
Supporting evidence: On October 11, 2023, The J. M. Smucker Company (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with BofA Securities, Inc. and J.P. Morgan Securities LLC, as representatives for the underwriters named in Schedule 1 annexed thereto (the “Underwriters”), providing for the offer and sale by the Company of $750 million aggregate principal amount of 5.900% Notes due 2028 (the “2028 Notes”), $1,000 million aggregate principal amount of 6.200% Notes due 2033 (the “2033 Notes”), $750 million aggregate principal amount of 6.500% Notes due 2043 (the “2043 Notes”), and $1,000 million aggregate principal amount of 6.500% Notes due 2053 (the “2053 Notes” and, together with the 2028 Notes, the 2033 Notes and the 2043 Notes, the “Securities”).
Price & Valuation
Multiples computed on the strict TTM/EV methodology — today's snapshot against peers, and each ratio recomputed as of past filing dates.
Valuation
EV/Revenue
2.26×
Peer median 1.39×
EV/EBIT
25.02×
Peer median 14.50×
P/E (TTM)
—
Peer median 17.50×
Price/Sales (TTM)
1.55×
Peer median 1.00×
Price/Book
2.46×
Peer median 1.73×
EV/Adj. EBITDA (FY2026)
11.25×
Peer median 10.10×
Peer medians compare against the 19 similar-size Packaged Foods companies (of 80 listed).
EV/Adj. EBITDA uses
the company-stated
“EBITDA (as adjusted)”,
extracted from the reconciliation in its SEC filings — the company's own non-GAAP definition, not an XBRL-tagged figure.
Valuation over time computed as of each quarter's filing date
EV/Adj. EBITDA uses
the company-stated
“EBITDA (as adjusted)”,
extracted from the reconciliation in its SEC filings as it existed at each sample date — the company's own non-GAAP definition, not an XBRL-tagged figure. Each point's tooltip names its TTM or fiscal-year basis.
Revenue Breakdown
Annual revenue as the company disaggregates it in its own XBRL filings. Years a component wasn't reported show a dash.
Share mode is each component's slice of the reported components that year — issuers rarely tag every revenue dollar, so slices need not sum to total revenue.
By Segment (USD)
Component
FY2026
FY2025
FY2024
FY2023
FY2022
FY2021
FY2020
FY2019
U.S. Retail Coffee
$3,304,900,000
$2,806,600,000
$2,704,400,000
$2,735,300,000
$2,497,300,000
$2,374,600,000
$2,149,500,000
$2,122,300,000
U.S. Retail Frozen Handheld and Spreads
$1,853,900,000
$1,877,000,000
$1,815,600,000
$1,630,900,000
$1,707,200,000
$1,835,700,000
$1,731,700,000
$1,761,500,000
U.S. Retail Pet Foods
$1,600,000,000
$1,663,600,000
$1,822,800,000
$3,038,100,000
$2,764,300,000
$2,844,500,000
$2,869,500,000
$2,879,500,000
Sweet Baked Snacks
$971,300,000
$1,178,800,000
$637,300,000
$0
$0
—
—
—
Away From Home
$879,000,000
$763,000,000
$711,500,000
—
—
—
—
—
All Other Segments
$441,800,000
$437,100,000
$487,100,000
$1,124,900,000
$1,030,100,000
$947,900,000
$1,050,300,000
$1,074,700,000
By Geography (USD)
Component
FY2026
FY2025
FY2024
FY2023
FY2022
FY2021
FY2020
FY2019
United States
$8,568,200,000
$8,245,700,000
$7,653,000,000
$8,001,400,000
$7,469,600,000
$7,448,300,000
$7,247,900,000
$7,298,000,000
Canada
$340,800,000
$352,400,000
$429,400,000
$433,200,000
$439,600,000
$443,600,000
$445,300,000
$421,900,000
All Other International
$141,900,000
$128,000,000
$96,300,000
$94,600,000
$89,700,000
$110,800,000
$107,800,000
$118,100,000
By Product & Service (USD)
Component
FY2026
FY2025
FY2024
FY2023
FY2022
FY2021
FY2020
FY2019
Coffee
$3,768,700,000
$3,173,800,000
$3,063,000,000
$3,088,800,000
$2,804,700,000
$2,639,700,000
$2,475,400,000
$2,479,400,000
Frozen Handheld
$995,700,000
$918,200,000
$791,100,000
$1,372,800,000
$1,021,400,000
$430,300,000
$365,000,000
$289,000,000
Sweet Baked Goods
$971,300,000
$1,093,000,000
$572,500,000
$0
$0
—
—
—
Pet Snacks
$886,000,000
$944,700,000
$1,024,800,000
$1,052,400,000
$944,900,000
$907,300,000
$849,700,000
$815,100,000
Peanut Butter
$786,100,000
$827,800,000
$814,100,000
$1,271,200,000
$1,602,200,000
$796,100,000
$730,600,000
$756,600,000
Cat Food
$776,000,000
$763,500,000
$792,400,000
$1,101,100,000
$969,900,000
$918,400,000
$869,200,000
$812,800,000
Fruit Spreads
$371,000,000
$400,800,000
$427,200,000
$852,400,000
$773,000,000
$385,900,000
$370,300,000
$341,600,000
Portion Control
$194,400,000
$423,800,000
$415,800,000
$163,700,000
$158,200,000
$120,500,000
$306,600,000
$325,400,000
Topping and Syrup
$109,200,000
$96,800,000
$88,400,000
$88,900,000
$82,500,000
—
—
—
Other Product
$102,900,000
$96,800,000
$165,800,000
$211,800,000
$328,400,000
$287,300,000
$584,000,000
$610,000,000
Baking Mixes and Ingredients
$89,500,000
$88,100,000
$90,300,000
$94,300,000
$85,500,000
$93,500,000
$179,800,000
$370,400,000
Dog Food
$100,000
$24,400,000
$76,400,000
$980,000,000
$926,500,000
$1,090,800,000
$1,217,600,000
$1,313,100,000
Cookies
$0
$86,300,000
$64,800,000
$0
$0
—
—
—
Juices and Beverages
—
—
—
$3,200,000
$212,600,000
$278,000,000
$125,700,000
$123,900,000
Shortening and Oils
—
—
—
$0
$0
$193,900,000
$262,300,000
$253,600,000
Segment Operating Income
Annual operating income by business segment, as tagged in the company's own XBRL filings. Segments need not sum to the consolidated figure — corporate costs and eliminations are typically unallocated.
