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The following table summarizes our restructuring costs incurred related to the restructuring program.
Read in the filing ↗ Also in 10-Q of Feb 26, 2026, 10-K of Jun 9, 2026, 10-Q of Aug 26, 2026
(B)Primarily represents unallocated accelerated depreciation related to restructuring activities and corporate administrative expenses, mainly consisting of depreciation and software amortization.
Read in the filing ↗ Also in 10-Q of Nov 25, 2025, 10-Q of Feb 26, 2026
(C)Primarily represents unallocated accelerated depreciation related to restructuring activities and corporate administrative expenses, mainly consisting of depreciation and software amortization.
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(D) Includes special project costs related to certain divestiture, acquisition, integration, and restructuring activities. For more information, see Note 4: Special Project Costs.
Read in the filing ↗ Also in 10-Q of Nov 25, 2025, 10-Q of Feb 26, 2026, 10-K of Jun 18, 2025
(E) Includes special project costs related to certain divestiture, acquisition, integration, and restructuring activities. For more information, see Note 3: Special Project Costs.
Read in the filing ↗ Also in 10-K of Jun 9, 2026
• our ability to achieve cost savings related to our restructuring and cost management programs in the amounts and within the time frames currently anticipated;
Read in the filing ↗ Also in 10-Q of Aug 27, 2025, 10-Q of Nov 25, 2025, 10-Q of Feb 26, 2026, 10-K of Jun 9, 2026
Restructuring Costs: During 2026, we closed our Indianapolis, Indiana manufacturing facility, which manufactured Hostess branded products, and consolidated operations into other existing facilities to further optimize operations within our Sweet Baked Snacks reportable segment. We have recognized total cumulative costs of $83.5 during 2026, consisting primarily of employee-related and other transition and termination costs. We do not anticipate remaining charges related to these restructuring activities to be material in 2027.
Read in the filing ↗ Also in 10-Q of Aug 26, 2026, 10-K of Jun 9, 2026, 10-Q of Aug 26, 2026
(A) Includes certain divestiture, acquisition, integration, and restructuring costs (“ special project costs ” ). For more information, see Note 4: Special Project Costs and Note 5: Reportable Segments.
Read in the filing ↗ Also in 10-Q of Nov 25, 2025, 10-Q of Feb 26, 2026, 10-Q of Aug 26, 2026
(A)Includes special project costs related to certain divestiture, acquisition, integration, and restructuring activities. For more information, see Note 4: Special Project Costs, Note 5: Reportable Segments, and Note 8: Debt and Financing Arrangements.
Read in the filing ↗ Also in 10-K of Jun 9, 2026
Our operations are subject to the general risks associated with acquisitions, divestitures, and restructuring programs. Specifically, we may not realize all of the anticipated benefits of the acquisition of Hostess Brands, or those benefits may take longer to realize than expected.
Read in the filing ↗ Also in 10-K of Jun 18, 2025
Special project costs consist primarily of employee-related costs and other transition and termination costs related to certain divestiture, acquisition, integration, and restructuring activities. Employee-related costs include severance, retention bonuses, and relocation costs. Severance costs are generally recognized when deemed probable and estimable, retention bonuses are recognized over the estimated future service period of the impacted employees, and relocation costs are expensed as incurred. Other transition and termination costs include fixed asset-related charges, contract and lease termination costs, professional fees, and other miscellaneous expenditures associated with divestiture, acquisition, integration, and restructuring activities. With the exception of accelerated depreciation, these costs are expensed as incurred. These special project costs are reported
Read in the filing ↗ Also in 10-Q of Aug 27, 2025, 10-Q of Nov 25, 2025, 10-Q of Feb 26, 2026, 10-Q of Aug 26, 2026, 10-K of Jun 18, 2025
(A) Segment cost of products sold excludes special project costs related to certain divestiture, acquisition, integration, and restructuring activities and the change in net cumulative unallocated derivative gains and losses. For more information, see Note 4: Special Project Costs and Note 10: Derivative Financial Instruments.
Read in the filing ↗ Also in 10-Q of Aug 27, 2025, 10-Q of Nov 25, 2025, 10-Q of Feb 26, 2026
(B) Segment cost of products sold excludes special project costs related to certain divestiture, acquisition, integration, and restructuring activities and the change in net cumulative unallocated derivative gains and losses. For more information, see Note 4: Special Project Costs and Note 10: Derivative Financial Instruments.
Read in the filing ↗ Also in 10-Q of Aug 26, 2026
Restructuring Costs: During the first quarter of 2026, we announced plans to close our Indianapolis, Indiana manufacturing facility, which manufactures Hostess® branded products, and consolidated operations into other existing facilities during the third quarter of 2026 to further optimize operations within our Sweet Baked Snacks segment.
Read in the filing ↗ Also in 10-Q of Nov 25, 2025, 10-Q of Feb 26, 2026, 10-Q of Nov 25, 2025
Noncash charges were included in other transition and termination costs and consisted of accelerated depreciation. We incurred noncash charges of $68.2 during 2026. We do not anticipate remaining charges related to these restructuring activities to be material in 2027. The obligation related to severance and retention bonuses was $0.5 at April 30, 2026.
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Restructuring Costs: On May 27, 2025, we announced plans to close our Indianapolis, Indiana manufacturing facility, which manufactures Hostess branded products, and consolidate operations into other existing facilities by early calendar year 2026 to further optimize operations for our Sweet Baked Snacks segment. We anticipate incurring approximately $75.0 of costs related to these efforts, consisting of $60.0 in noncash charges for accelerated depreciation and $15.0 in employee-related and other transition and termination costs.
Read in the filing ↗ Also in 10-K of Jun 18, 2025, 10-Q of Aug 27, 2025, 10-Q of Aug 27, 2025
tax balances. We are also subject to regular reviews, examinations, and audits by the Internal Revenue Service (the “IRS”) and other taxing authorities with respect to taxes within and outside of the U.S. Although we believe our tax estimates are reasonable, the final outcome of tax controversies could result in material incremental tax liabilities, including interest and penalties. Our effective income tax rate is also influenced by the geography, timing, nature, and magnitude of transactions, such as acquisitions and divestitures, restructuring activities, and impairment charges.
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Cumulative noncash charges incurred through July 31, 2026, were $ 68.2 and consisted of accelerated depreciation, of which $ 15.4 was incurred during the three months ended July 31, 2025. We did not incur any noncash charges during the three months ended July 31, 2026. The remaining charges related to these restructuring activities are not expected to be material during the remainder of 2027. The obligation related to severance and retention bonuses was $ 0.2 and $ 0.5 at July 31, 2026, and April 30, 2026, respectively.
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Our strategic growth objectives include net sales increasing by a low single-digit percentage and operating income excluding non-GAAP adjustments (“adjusted operating income”) increasing by a mid-single-digit percentage on average over the long term. Related to income per diluted share excluding non-GAAP adjustments (“adjusted earnings per share”), our strategic growth objective is to increase by a high single-digit percentage over the long term. We expect organic growth, including new products, to drive much of our top-line growth, while the contribution from acquisitions will vary from year to year. Our non-GAAP adjustments include amortization expense and impairment charges related to intangible assets, certain divestiture, acquisition, integration, and restructuring costs (“special project costs”), gains and losses on divestitures, the net change in
Read in the filing ↗ Also in 10-K of Jun 9, 2026
Our stated strategic vision is to engage, delight, and inspire consumers by building brands they love and leading in growing categories. We have historically made strategic acquisitions of brands and businesses and intend to do so in the future in support of this strategy. If we are unable to complete acquisitions or successfully integrate and develop acquired businesses, including the effective management of integration and related restructuring costs, we could fail to achieve the anticipated synergies and cost savings, or the expected increases in revenues and operating results. Additional acquisition risks include the diversion of management attention from our existing business, potential loss of key employees, suppliers, or consumers from the acquired business, assumption of unknown risks and liabilities, and greater than anticipated operating costs of the acquired business. Any of these factors could have a material adverse effect on our financial results.
Read in the filing ↗ Also in 10-K of Jun 9, 2026
In addition, we have made strategic divestitures of brands and businesses, including the divestitures of certain Sweet Baked Snacks value brands, and the Voortman, Canada condiment, and Sahale Snacks businesses, among others, and we may continue to do so in the future. If we are unable to complete divestitures or successfully transition divested businesses, including the effective management of the related separation and stranded overhead costs, transition services, and the maintenance of relationships with customers, suppliers, and other business partners, our business and financial results could be negatively impacted. Further, we may incur asset impairment charges related to divestitures that reduce our profitability. Divestitures and related restructuring and integration costs require a significant amount of management and operational resources. These additional demands could divert management’s attention from core business operations, potentially adversely impacting existing business relationships and employee morale, resulting in negative impacts on our financial performance. For more information, see Note 2: Acquisition, Note 3: Divestitures, and Note 4: Special Project Costs.
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Non-GAAP financial measures exclude certain items affecting comparability that can significantly affect the year-over-year assessment of operating results, which include amortization expense and impairment charges related to intangible assets; certain divestiture, acquisition, integration, and restructuring costs ("special project costs"); gains and losses on divestitures; the net change in cumulative unallocated gains and losses on commodity and foreign currency exchange derivative activities ("change in net cumulative unallocated derivative gains and losses"); and other infrequently occurring items that do not directly reflect ongoing operating results. Income taxes, as adjusted is calculated using an adjusted effective income tax rate that is applied to adjusted income before income taxes and reflects the exclusion of the previously discussed items, as well as any adjustments for one-time tax-related activities, when they occur. While this adjusted effective income tax rate does not generally differ materially from the GAAP effective income tax rate, certain exclusions from non- GAAP results can significantly impact the adjusted effective income tax rate.
Read in the filing ↗ Also in 8-K of Aug 27, 2025, 8-K of Nov 25, 2025, 8-K of Feb 10, 2026, 8-K of Aug 26, 2026, 8-K of Dec 5, 2023, 8-K of Feb 27, 2024, 8-K of Nov 26, 2024, 8-K of Feb 26, 2026, 8-K of Jun 9, 2026, 8-K of Jun 6, 2024, 8-K of Jun 10, 2025, 8-K of Feb 27, 2025
We are subject to income and other taxes, primarily in the U.S. and Canada, based upon the jurisdictions in which our sales and profits are determined to be earned and taxed. Federal, state, and foreign statutory income tax rates and taxing regimes have been subject to significant change and continue to evolve. Our interpretation of current tax laws and their applicability to our business, as well as any changes to existing laws, can significantly impact our effective income tax rate and deferred tax balances. We are also subject to regular reviews, examinations, and audits by the Internal Revenue Service (the “IRS”) and other taxing authorities with respect to taxes within and outside of the U.S. Although we believe our tax estimates are reasonable, the final outcome of tax controversies could result in material incremental tax liabilities, including interest and penalties. Our effective income tax rate is also influenced by the geography, timing, nature, and magnitude of transactions, such as acquisitions and divestitures, restructuring activities, and impairment charges.
Read in the filing ↗
In addition, we have made strategic divestitures of brands and businesses, including the recent divestitures of certain Sweet Baked Snacks value brands and the Voortman business, as well as past divestitures of the Canada condiment and Sahale Snacks businesses, and certain pet food brands, among others, and we may continue to do so in the future. If we are unable to complete divestitures or successfully transition divested businesses, including the effective management of the related separation and stranded overhead costs, transition services, and the maintenance of relationships with customers, suppliers, and other business partners, our business and financial results could be negatively impacted. Further, we may incur asset impairment charges related to divestitures that reduce our profitability. Divestitures and related restructuring and integration costs require a significant amount of management and operational resources. These additional demands could divert management’s attention from core business operations, potentially adversely impacting existing business relationships and employee morale, resulting in negative impacts on our financial performance. For more information, see Note 2: Acquisition, Note 3: Divestitures, and Note 4: Special Project Costs.
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… Without this financing, we may have to seek additional equity or debt financing or restructure our debt, which could harm our long-term business prospects. Our failure to comply with the terms of any existing or future indebtedness could result in an event of default which, if not cured or waived, could result in the acceleration of the payment of …
Read in the filing ↗ Also in 10-K of Jun 9, 2026
… Food and Drug Administration or other agencies, and product recalls; risks associated with derivative and purchasing strategies the Company employs to manage commodity pricing and interest rate risks; the availability of reliable transportation on acceptable terms; the ability to achieve cost savings related to the Company's restructuring and cost management programs in the amounts and within the time frames …
Read in the filing ↗ Also in 8-K of Jun 6, 2024
… Food and Drug Administration or other agencies, and product recalls; risks associated with derivative and purchasing strategies the Company employs to manage commodity pricing and interest rate risks; the availability of reliable transportation on acceptable terms; the ability to achieve cost savings related to the Company's restructuring and cost management programs in the amounts and within the time frames …
Read in the filing ↗
… Food and Drug Administration or other agencies, and product recalls; risks associated with derivative and purchasing strategies the Company employs to manage commodity pricing and interest rate risks; the availability of reliable transportation on acceptable terms; the ability to achieve cost savings related to the Company's restructuring and cost management programs in the amounts and within the time frames …
Read in the filing ↗
… Food and Drug Administration or other agencies, and product recalls; risks associated with derivative and purchasing strategies the Company employs to manage commodity pricing and interest rate risks; the availability of reliable transportation on acceptable terms; the ability to achieve cost savings related to the Company's restructuring and cost management programs in the amounts and within the time frames …
Read in the filing ↗ Also in 8-K of Nov 25, 2025, 8-K of Feb 26, 2026, 8-K of Aug 28, 2024, 8-K of Dec 5, 2023, 8-K of Feb 27, 2024, 8-K of Feb 27, 2025, 8-K of Nov 26, 2024