What changed in this filing

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Item 1. Business

2022-06-16 compared with 2021-06-17 · 111 added, 97 removed, 196 unchanged (51% of the section changed)

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are principally in Canada, although products are exported to other countries as well.

Net sales outside the U.S., subject to foreign currency translation, represented approximately

5 percent of consolidated net sales for 2021.

Net sales outside the U.S., subject to foreign currency translation, represented 5 percent of consolidated net sales for 2022.

Our branded food and beverage products include a strong portfolio of trusted, iconic, market-leading brands that are sold to consumers through retail outlets in North America.

On January 29, 2021, we sold the Natural Balance ® premium pet food business to Nexus Capital Management LP (“Nexus”).

We have three reportable segments:

Retail Pet Foods, U.S.

Retail Coffee, and U.S.

Retail Consumer Foods.

retail market segments in total comprised 87 percent of 2022 consolidated net sales and represent a major portion of our strategic focus – the sale of branded food and beverage products with leadership positions to consumers through retail outlets in North America.

International and Away From Home represents sales outside of the U.S.

retail market segments.

For additional information on our reportable segments, see Note 4:

Reportable Segments.

On January 31, 2022, we sold the natural beverage and grains businesses to Nexus Capital Management LP (“Nexus”).

The transaction included products sold under the R.W.

Knudsen ® and TruRoots ® brands, inclusive of certain trademarks, a licensing agreement for Santa Cruz Organic ® beverages, dedicated manufacturing and distribution facilities in Chico, California, and Havre de Grace, Maryland, and approximately 150 employees who supported the natural beverage and grains businesses.

The transaction did not include Santa Cruz Organic nut butters, fruit spreads, syrups, or applesauce.

Under our ownership, the businesses generated net sales of $106.7, $143.4, and $131.6 in 2022, 2021, and 2020, respectively, primarily included in the U.S.

Retail Consumer Foods segment.

On December 1, 2021, we sold the private label dry pet food business to Diamond Pet Foods, Inc.

(“Diamond Pet Foods”).

The transaction included dry pet food products sold under private label brands, a dedicated manufacturing facility located in Frontenac, Kansas, and approximately 220 employees who supported the private label dry pet food business.

The transaction did not include any branded products or our private label wet pet food business.

Under our ownership, the business generated net sales of $62.3, $94.0, and $120.6 in 2022, 2021, and 2020, respectively, included in the U.S.

Retail Pet Foods segment.

On January 29, 2021, we sold the Natural Balance ® premium pet food business to Nexus.

The transaction included pet food products sold under the Natural Balance brand, certain trademarks and licensing agreements, and select employees who supported the Natural Balance business.

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Retail Pet Foods segment.

For additional information, refer to Note 4:

Divestitures.

On December 1, 2020, we sold the Crisco ® oils and shortening business to B&G Foods, Inc.

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Retail Consumer Foods segment.

For additional information, refer to Note 4:

Divestitures.

On August 31, 2018, we sold our U.S.

baking business to Brynwood Partners VII L.P.

and Brynwood Partners VIII L.P., subsidiaries of Brynwood Partners, an unrelated party.

The transaction included products that were primarily sold in U.S.

retail channels under the Pillsbury ® , Martha White ® , Hungry Jack ® , White Lily ® , and Jim Dandy ® brands, along with all relevant trademarks and licensing agreements, and our manufacturing facility in Toledo, Ohio.

This business generated net sales of $105.9 in 2019, primarily included in the U.S.

Retail Consumer Foods segment.

The transaction did not include our baking business in Canada.

For additional information, refer to Note 4:

For additional information on these divestitures, see Note 3:

Divestitures.

On May 14, 2018, we acquired the outstanding equity of Ainsworth Pet Nutrition, LLC (“Ainsworth”) in an all-cash transaction, which was funded by debt and valued at $1.9 billion.

Ainsworth was a leading producer, distributor, and marketer of premium pet food and pet snacks, predominantly within the U.S.

The majority of Ainsworth’s sales were generated by the Rachael Ray ® Nutrish ® brand within the premium pet food category.

Results of the Ainsworth acquisition are primarily included in the U.S.

Retail Pet Foods segment.

For additional information, refer to Note 2:

We have three reportable segments:

Retail Pet Foods, U.S.

Retail Coffee, and U.S.

Retail Consumer Foods.

Effective during the first quarter of 2021, the presentation of International and Away From Home represents a combination of all other operating segments that are not individually reportable.

As a result of leadership changes, these operating segments are being managed and reported separately and no longer represent a reportable segment for segment reporting purposes.

Segment results for prior periods have not been modified, as the combination of these operating segments represents the previously reported International and Away From Home reportable segment.

retail market segments in total comprised 88 percent of 2021 consolidated net sales and represent a major portion of our strategic focus – the sale of branded food and beverage products with leadership positions to consumers through retail outlets in North America.

International and Away From Home represents sales outside of the U.S.

retail market segments.

Principal Products:

Our principal products as of April 30, 2021, are coffee, dog food, cat food, pet snacks, peanut butter, frozen handheld products, fruit spreads, juices and beverages, portion control products, and baking mixes and ingredients.

Our principal products as of April 30, 2022, are coffee, cat food, pet snacks, dog food, peanut butter, frozen handheld products, fruit spreads, portion control products, juices and beverages, as well as baking mixes and ingredients.

Product sales information for the years 2022, 2021, and 2020 is included within Note 4:

Reportable Segments.

retail market segments, our products are primarily sold through a combination of direct sales and brokers to food retailers, club stores, discount and dollar stores, food wholesalers, online retailers, pet specialty stores, natural foods stores and distributors, drug stores, military commissaries, and mass merchandisers.

retail market segments, our products are primarily sold through a combination of direct sales and brokers to food retailers, club stores, discount and dollar stores, online retailers, pet specialty stores, natural foods stores and distributors, drug stores, military commissaries, and mass merchandisers.

In International and Away From Home, our products are distributed domestically and in foreign countries through retail channels and foodservice distributors and operators (e.g., health care operators, restaurants, lodging, hospitality, offices, K-12, colleges and universities, and convenience stores).

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Green coffee, peanuts, protein meals, oils and fats, grains, sweeteners, fruit, and other ingredients are obtained from various suppliers.

The availability, quality, and costs of many of these commodities have fluctuated, and may continue to fluctuate, over time.

Futures, options, basis, and fixed price contracts are used to manage price volatility for a significant portion of our commodity costs.

The availability, quality, and costs of many of these

commodities have fluctuated, and may continue to fluctuate over time, partially driven by the novel coronavirus (“COVID-19”) pandemic.

Futures, basis, options, and fixed price contracts are used to manage price volatility for a significant portion of our commodity costs.

Green coffee, along with certain other raw materials, is sourced solely from foreign countries and its supply and price is subject to high volatility due to factors such as weather, global supply and demand, plant disease, investor speculation, and political and economic conditions in the source countries.

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The principal packaging materials we use are plastic, glass, metal cans, caps, carton board, and corrugate.

For additional information on the commodities we purchase, see “Commodities Overview” within Management’s Discussion and Analysis of Financial Condition and Results of Operations.

Raw materials are generally available from numerous sources, although we have elected to source certain plastic packaging materials and finished goods, such as K-Cup ® pods and our Pup-Peroni ® dog snacks, from single sources of supply pursuant to long-term contracts.

For additional information on the commodities we purchase, see “Commodities Overview” within Management’s Discussion and Analysis of Financial Condition and Results of Operations of this Annual Report on Form 10-K.

Raw materials are generally available from numerous sources, although we have elected to source certain plastic packaging materials and finished goods, such as K-Cup ® pods, our Pup-Peroni ® dog snacks, and liquid coffee, from single sources of supply pursuant to long-term contracts.

While availability may vary year-to-year, we believe that we will continue to obtain adequate supplies and that alternatives to single-sourced materials are available.

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Trademarks and Patents :

Our products are produced under certain patents and marketed under trademarks owned or licensed by us or one of our subsidiaries.

Many of our products are produced and sold under various patents or patents pending, and marketed under trademarks owned or licensed by us or one of our subsidiaries.

Our major trademarks as of April 30, 2022, are listed below.

Primary Reportable Segment Major Trademark

Retail Pet Foods Rachael Ray Nutrish , Meow Mix ® , Milk-Bone ® , 9Lives ® , Kibbles ‘n Bits ® , Pup-Peroni , and Nature’s Recipe ®

Retail Coffee Folgers ® , Dunkin’ TM , and Café Bustelo ®

Retail Consumer Foods Jif ® , Smucker’s ® , and Uncrustables ®

Folgers and Smucker’s

Retail Pet Foods Meow Mix ® , Rachael Ray ® Nutrish ® , Milk-Bone ® , 9Lives ® , Kibbles ‘n Bits ® , Pup-Peroni, and Nature’s Recipe ®

Retail Coffee Folgers ® , Dunkin’ ® , and Café Bustelo ®

Retail Consumer Foods Uncrustables ® , Jif ® , and Smucker’s ®

Smucker’s and Folgers

(A) Represents the combined International and Away From Home operating segments.

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In addition, we and our subsidiaries license the use of several other trademarks, none of which are individually material to our business.

Slogans or designs considered to be important trademarks include, without limitation, “ With A Name Like Smucker’s, It Has To Be Good ® , ” “ The Best Part of Wakin’ Up Is Folgers In Your Cup ® , ” “ Choosy Moms Choose Jif ® , ” “ That Jif'ing Good TM , ” “ The Only One Cats Ask For By Name ® , ” the Smucker’s banner, the Crock Jar shape, the Gingham design, the Jif Color Banner design, the Folgers Mountain Sunrise design, the Café Bustelo Angelina design, and the Smucker’s Strawberry, Milk-Bone , Meow Mix , and 9Lives logos.

We own several hundred patents worldwide in addition to proprietary trade secrets, technology, know-how processes, and other intellectual property rights that are not registered.

Slogans or designs considered to be important trademarks include, without limitation, “ With A Name Like Smucker’s, It Has To Be Good ® , ” “ The Best Part of Wakin’ Up Is Folgers In Your Cup ® , ” “ Choosy Moms Choose Jif ® , ” “ That Jif’ing Good TM , ” “ The Only One Cats Ask For By Name ® , ” the Smucker’s banner, the Crock Jar shape, the Gingham design, the Jif Color Banner design, the Café Bustelo Angelina design, and the Milk-Bone , Meow Mix , and 9Lives logos.

We own many patents worldwide in addition to proprietary trade secrets, technology, know-how processes, and other intellectual property rights that are not registered.

We consider all of our owned and licensed intellectual property, taken as a whole, to be essential to our business.

Retail Pet Foods, U.S.

Retail Coffee, and U.S.

Retail Consumer Foods segments have historically been seasonal around the Fall Bake and Holiday period, which generally resulted in higher sales and profits in our second and third quarters.

However, as a result of the Crisco and U.S.

baking business divestitures during 2021 and 2019, respectively, the U.S.

Retail Consumer Foods segment has experienced less seasonality.

Additionally, the U.S.

Retail Pet Foods segment does not experience significant seasonality, further reducing the overall impact of seasonality to the total Company.

Retail Consumer Foods segments do not experience significant seasonality, as demand for our products is generally consistent throughout the year.

Sales to Walmart Inc.

and subsidiaries amounted to 32 percent of net sales in 2021, 2020, and 2019.

and subsidiaries amounted to 34 percent of net sales in 2022 and 32 percent of net sales in both 2021 and 2020.

These sales are primarily included in our U.S.

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No material portion of our business is subject to renegotiation of profits or termination of contracts at the election of the government.

We are the branded market leader in the coffee, dog snacks, peanut butter, fruit spreads, and natural shelf stable juices categories in the U.S.

In Canada, we are the branded market leader in the flour, pickles, fruit spreads, canned milk, and ice cream toppings categories.

We are the branded market leader in the coffee, dog snacks, peanut butter, and fruit spreads categories in the U.S.

In Canada, we are the branded market leader in the pickles, flour, fruit spreads, canned milk, and ice cream toppings categories.

Our business is highly competitive as all of our brands compete for retail shelf space with other branded products as well as private label products.

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The packaged foods industry has been challenged by a general decline in sales volume in the center of the store.

Certain evolving consumer trends have contributed to the decline, such as a heightened focus on health and wellness, an increased desire for fresh foods, and the growing impact of social media and e-commerce on consumer behavior.

However, there has been a recent increase in sales primarily driven by changes in consumer behaviors, including employees working at home more frequently as a result of the pandemic.

Certain evolving consumer trends have contributed to the longer-term decline, such as a heightened focus on health and wellness, an increased desire for fresh foods, and the growing impact of social media and e-commerce on consumer behavior.

To address these dynamics, we continue to focus on innovation with an increased emphasis on products that satisfy evolving consumer trends.

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retail categories, private label held a 11.5 dollar average market share during the 52 weeks ended April 17, 2022, as compared to a 12.2 dollar average market share during the same period in the prior year.

The decrease in average market share is primarily driven by excluding the shortening and oils category in 2021, as a result of the Crisco divestiture.

We believe that both private label and leading brands play an important role in the categories in which we compete, appealing to different consumer segments.

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Pet snacks Milk-Bone (A) and Pup-Peroni

Beggin’ Strips and Waggin’ Train

Nestlé Purina PetCare Company

Beggin’ Strips Nestlé Purina PetCare Company

Nudges General Mills, Inc.

Dentastix and Greenies

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Frozen sandwiches and snacks Smucker’s Uncrustables Hot Pockets (A)

El Monterrey Ruiz Foods

Totino’s General Mills, Inc.

El Monterrey Ruiz Foods

International and Away From Home

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In certain categories, the market leader is not identified as two or more brands compete for the largest share.

Government Regulation:

Our operations are subject to various regulations and laws administered by federal, state, and local government agencies in the U.S., including the Food and Drug Administration, Federal Trade Commission, Departments of Labor and Commerce, and Environmental Protection Agency.

Government Regulations:

Our operations are subject to various regulations and laws administered by federal, state, and local government agencies in the U.S., including the Food and Drug Administration, Federal Trade Commission, Departments of Labor, Commerce, and Agriculture, Environmental Protection Agency, and Occupational Safety and Health Administration.

Additionally, we are subject to regulations and laws administered by government agencies in Canada and other countries in which we have operations and our products are sold.

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As such, we have public goals related to waste diversion, water usage intensity reduction, greenhouse gas emissions intensity reduction, and sustainable packaging.

In addition, we have implemented and manage a variety of programs across our operations, including energy optimization, utilization of renewable energy, water conservation, recycling, and partnerships with farmers who implement sustainable practices, in support of our commitment to environmental sustainability.

In support of our commitment to environmental sustainability, we have implemented and manage a variety of programs across our operations, including energy optimization, utilization of renewable energy, water conservation, recycling, and partnerships with farmers who implement sustainable practices.

We continue to evaluate and modify our processes to further limit our impact on the environment.

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As demonstrated by our Basic Beliefs of Quality , People , Ethics , Growth , and Independence , we are committed to supporting our employees holistically, both personally and professionally.

With approximately 7,100 full-time employees worldwide, every Smucker employee makes a difference to our Company.

We believe it is critical that we have an inclusive and diverse environment and that we take proactive steps to ensure we meet our employees’ physical, emotional, and financial needs.

In order to hold ourselves accountable, we conduct an employee engagement survey every two to three years to provide an opportunity for open and confidential feedback from our employees and identify opportunities for improvement.

Additionally, we send out pulse surveys as needed to gain additional information based on responses to the larger engagement survey and other topics that may be immediately applicable.

Additional information regarding our human capital management is available in our 2020 Corporate Impact Report that can be found on our website at www.jmsmucker.com/news-stories/corporate-publications/corporate-impact-report.

With approximately 6,700 full-time employees worldwide, every employee makes a difference to our Company.

We believe it is critical that we have an inclusive and diverse environment and that we take proactive steps to ensure we are enabling our employees to reach their full potential.

Additionally, we conduct pulse surveys as needed to gain additional information based on responses to the larger engagement survey and other topics that may be immediately applicable.

Employees also have the opportunity to anonymously report violations to the Commitment to Integrity:

Our Code (“Code of Conduct”) or complaints regarding accounting, auditing, and financial-related matters through our Smucker Voice Line, which is managed by an independent third-party service provider.

Additional information regarding our human capital management is available in our 2021 Corporate Impact Report that can be found on our website at www.jmsmucker.com/news-stories/corporate-publications.

Information on our website, including our 2021 Corporate Impact Report, is not incorporated by reference into this Annual Report on Form 10-K.

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We are diligent in ensuring workforce health and safety through education and training which is provided at all locations.

These efforts resulted in us achieving a total recordable incident rate during 2021 that is four times below the national average.

Further, we have maintained an unwavering commitment to supporting the health and well-being of our employees during the novel coronavirus (“COVID-19”) pandemic.

We have implemented extensive safety and sanitation measures to help ensure employee health and well-being, encouraging remote work for all who are able, and introducing protocols in our manufacturing facilities to allow for appropriate social distancing and protection of our employees.

Additionally, we are paying 100 percent of the cost for employee COVID-19 testing and providing personal leave to individuals who test positive or have to care for a family member who tests positive.

Further, during 2021, we have reinforced the importance of self-care and the availability of mental health resources to our employees.

These efforts resulted in our achievement of a total recordable incident rate during 2022 that is three times below the industry average.

Further, we have maintained an unwavering commitment to supporting the health and well-being of our employees during the COVID-19 pandemic.

We have implemented extensive safety and sanitation measures to help ensure employee health and well-being, encouraged remote work for all who are able, and introduced protocols in our manufacturing facilities to allow for appropriate social distancing and protection of our employees.

During the second half of 2022, COVID-19 cases began to trend downward, and consistent with national and local health department direction, certain pandemic related safety measures were relaxed at our corporate offices and manufacturing facilities.

However, if these trends were to reverse or another variant became prevalent, we would reevaluate our safety protocols at that time.

Further, we have continued to promote the importance of self-care and the availability of mental health resources to our employees.

In recognition of the need for mental health resources across society, we have partnered with the United Way ® of Summit County 211 program and the National Council for Behavioral Health to provide support for our employees and communities.

As part of our focus on well-being, we emphasize the need for our employees to embrace healthy lifestyles.

We offer a variety of wellness education opportunities and on-site conveniences, including our wellness facility, fitness center, and Child Development Center, at our corporate headquarters in Orrville, Ohio.

Although some facilities were temporarily closed during 2021 due to the COVID-19 pandemic, we are conducting a phased reopening of these facilities during early 2022.

We offer all employees a variety of free and discounted services, as well as education opportunities, to support their physical, emotional, and financial well-being, including free sessions through our Employee Assistance Program and access to discounted gym memberships.

We also offer on-site conveniences, such as health and wellness centers at several of our locations and a Child

Development Center at our corporate headquarters in Orrville, Ohio.

In addition, we provide our employees with time to renew and programs to promote workplace flexibility.

Diversity and Inclusion:

We believe having an inclusive culture and the expertise of diverse professionals across our business is critical to our success.

Our commitment to inclusion, diversity, and equity is focused around three pillars:

promoting a diverse workforce;

maintaining an inclusive environment for all employees;

• Marketplace:

sharing our efforts with external constituents to support greater cultural awareness and sensitivity in society.

In support of these pillars, we have accelerated our inclusion and diversity efforts by introducing unconscious bias training and developing employee resource groups to encourage empathy and provide support to our employees.

These groups encourage and help employees feel more comfortable bringing their whole selves to work and reinforce our commitment to creating an environment that celebrates the differences that make each of us who we are.

We approach diversity from the top-down, exemplified by our Board of Directors (the “Board”), where 3 of 12 directors are ethnically diverse and 5 of 12 directors are women.

Additionally, 3 of 7 members of our Executive Leadership Team are women, demonstrating our belief that a diverse team with a variety of viewpoints is important and further contributes to a more effective decision-making process and overall greater success.

Further, in 2021, Mark Smucker signed the “CEO Action for Diversity and Inclusion” pledge to publicly demonstrate the importance of ensuring inclusivity in the workplace.

Additionally, we will honor Juneteenth as a Company holiday beginning this calendar year.

We updated our marketing guidelines to clarify our expectations of our social media partners to eliminate hate speech and discriminatory content from their platforms, resulting in us joining the #StopHateForProfit movement.

In June 2020, we committed to providing financial support to non-profit organizations that support education, economic advancement, and justice for minorities.

As part of this campaign, we are partnering with the Akron Urban League, the Urban League of Greater Cleveland, the Equal Justice Initiative, the Human Rights Campaign, and the NAACP Legal Defense and Educational Fund to further our commitment to this cause.

These organizations advocate for inclusion, racial justice, and the advancement of underrepresented people.

Our commitment to inclusion, diversity, and equity is focused around the following three pillars:

• Workforce | Promoting a diverse workforce;

• Workplace | Maintaining an inclusive environment for all employees;

• Marketplace | Sharing our efforts with external constituents to support greater cultural awareness and sensitivity in society.

In support of these pillars, we have made important progress over the past year on our commitment to create an environment where our employees are supported and differences are truly celebrated.

We have successfully introduced six business resource groups (as part of our employee resource groups network) and our Advocate Alliance group to support employees and encourage allyship.

Our business resource groups include BLAC (Black Leadership and Ally Council);

PRIDE Alliance (i.e., LGBTQ+);

GROW (Greater Resources and Opportunities for Women);

RAICES (i.e., Latino/a/x and Hispanic contributions);

AFVA (Armed Forces Veterans and Allies);

and CAPIA (Community of Asians, Pacific Islanders, and Allies), and we are continuing to work on the introduction of other groups.

Additionally, we have coordinated more than 8,500 hours of employee programming on education and understanding, hosted panels to reflect the unique experiences of underrepresented groups to increase employee awareness while encouraging empathy and allyship, and published regular content to celebrate our differences and increase understanding.

We approach diversity from the top-down, exemplified by our Board of Directors (the “Board”), where 4 of 12 directors are women and 2 of 12 directors are racially or ethnically diverse.

Additionally, 46 percent of our executive and senior management team members are women, inclusive of 3 of 7 members of our Executive Leadership Team, demonstrating our belief that a diverse team with a variety of viewpoints is important and further contributes to a more effective decision-making process and overall greater success.

Furthermore, approximately 30 percent of our employees are women and 25 percent of our employees are racially or ethnically diverse.

We recognize we have work to do to ensure a more inclusive and diverse organization, which is why we are implementing changes to our recruiting, hiring, and retention programs to improve diversity at all levels within our Company.

Beginning in 2022, all executive officers have 10 percent of their annual cash incentive awards based on the achievement of our environmental, social, and governance (“ESG”) objectives, which are focused on our inclusion, diversity, and equity efforts.

Further, we have partnered with the Akron Urban League, the Urban League of Greater Cleveland, the Equal Justice Initiative, the Human Rights Campaign, the NAACP Legal Defense and Educational Fund, the Asian Americans Advancing Justice, and the Toronto Chapter of Chinese Canadian National Council to further our commitment to this cause and have committed more than $600,000 to these partners as part of multi-year partnerships.

These organizations advocate for inclusion, racial justice, and the advancement of underrepresented and vulnerable people.

To ensure ongoing progress against our commitments, we are evaluating our success through several measures, including reviews of organization health assessments, evaluation of workforce composition and minority representation across all levels of the organization, and successful integration of key programming.

During 2022, due to our increased effort to support diversity and inclusion, our Corporate Equality Index (“CEI”) from the Human Rights Campaign was 95 out of 100 points, which increased from 80 and 55 points in 2021 and 2020, respectively.

Specifically, we were able to increase the CEI index through enhancements to our transgender-inclusive health benefits, philanthropic contributions to and partnerships with LGBTQ+ organizations, pledging our support of the Human Rights Campaign’s Business Coalition for the Equality Act, enhancement of charitable giving guidelines to prohibit philanthropic support of organizations with an explicit policy of sexual orientation and gender identity discrimination, having a supplier diversity program that includes the outreach to LGBTQ+ owned businesses, and the establishment of the PRIDE Alliance business resource group.

Learning and Development:

We strive to foster an environment of growth for our people.

We strive to foster an environment of growth for our people and support our culture of continuous learning.

We support and challenge our employees to increase their knowledge, skills, and capabilities through all phases of their career.

Our Employee Development programs offer foundational instruction on Company culture and provide employees additional learning opportunities throughout their career.

We are committed to providing the tools and resources our employees need to learn, develop, and grow with us, including the introduction of virtual sessions in light of current social distancing guidelines.

Our Employee Development programs offer foundational instruction on Company culture and provide employees additional learning opportunities throughout their careers.

This is reflected in annual reviews, which allows management and employees to partner and determine specific opportunities for growth within each role through important work, new experiences generated through a dynamic environment, regular feedback, and purposeful development opportunities.

Building a career at our Company is fundamental to who we are and is evidenced by our Executive Leadership Team, where 6 of 7 members were promoted from within.

For additional information, see Information about Executive Officers.

In addition, we are committed to providing the tools and resources our employees need to learn, develop, and grow with us, including virtual sessions.

A suite of online training and education programs are available to our employees, ranging from role-specific training to education on soft skills and our Company culture.

Through these tools and resources, in 2022, we have coordinated more than 20,000 hours of professional development training for our employees.

Our best-in-class “Discovering the Art of Leadership” series, developed in collaboration with Case Western Reserve University, teaches our people managers how to effectively lead teams and develop employees.

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Our Total Rewards program offers competitive, comprehensive benefits to meet the unique needs of each employee at each life stage, including insurance coverage options for domestic partners in addition to married couples.

While our approach to paid time off has always been competitive with our industry peers, in 2020, we increased vacation time for employees with less than five years of tenure to three weeks per calendar year.

Further, we increased Company paid parental leave from 2 to 12 weeks, in addition to the up to 12 weeks of short-term disability available to birth mothers.

Additionally, we introduced pet bereavement leave to allow pet parents to take a day of leave following the loss of a pet.

The rewards program also addresses the holistic needs of our employees by supporting their physical well-being, providing tools and resources to help them actively take responsibility, share in the cost, and make the best decisions regarding their personal well-being.

These programs provide resources that respond to their changing needs throughout their careers, including access to our Child Development Center, flexible work schedules, tuition assistance, pet insurance, and expanded parental leave.

Additionally, our approach to paid time off is competitive with our industry peers, which includes at least three weeks of paid time off (and increases based on an employee’s tenure), 12 paid Company holidays per calendar year, including a floating holiday, which can be used at the employees’ discretion to observe and celebrate occasions that align with their personal interests and beliefs, 12 weeks of parental leave, in addition to up to 12 weeks of short-term disability available to birth mothers, and pet bereavement leave.

In 2022, we extended our Total Rewards benefits package to include advocacy resources to help LGBTQ+ employees navigate obstacles and identify LGBTQ+ knowledgeable providers.

In addition, we broadened our family building benefits to support the desire for all aspiring parents to build their family through enhanced infertility benefits, including adoption and surrogacy reimbursement.

Community and Social Impact:

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Through our many partnerships, we are able to understand the needs and support required within our local communities and leverage these relationships to make the connections necessary to offer this critical assistance.

With our partners, including the American Red Cross ® , United Way ® , and Habitat for Humanity ® , we have helped support disaster relief efforts with product and financial donations.

With our partners, including the American Red Cross ® , United Way ® , Feeding America ® , and Habitat for Humanity ® , we have helped support disaster relief efforts with product and financial donations.

We have supported the LeBron James Family Foundation and its work with the I PROMISE School, including helping supply the school’s on-site food pantry, donating funds to the school’s library, and the development of the I PROMISE School’s J.

Smucker Hometown Hall.

In addition to our employees volunteering time and effort to help their neighbors in need, they also engage in environmental sustainability efforts, such as participating in a virtual Earth Day event.

In addition to our work to support those in the communities where we live and work, we believe it is important that we help facilitate business success globally and are proud that our employees share in this belief.

Through our relationship with Partners in Food Solutions and TechnoServe ® , we have opened up skills-based employee volunteer opportunities to our workforce, allowing our people to share their talents and expertise with companies that work to help provide a secure and consistent food supply for families in Africa.

Our Company is fortunate to have the expertise and passion of talented employees who help us deliver high-quality products to our customers and consumers across North America.

We are also fortunate to have employees who share our commitment to ensure that people, pets, and communities where we live and work have access to the support and essential resources they need.

We believe it is important to celebrate their contributions, including recognizing organizations they are especially passionate about.

One way we do this is through our Company Matching Gift Program, which gives employees the opportunity to donate to partner charities and have their donation matched by the Company, dollar-for-dollar, from a minimum of $5 up to a maximum of $2,500 per calendar year per employee.

In addition, each year we offer employees the opportunity to nominate the organizations most important to them to be added to the program.

Information about our Executive Officers:

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What changed 10-K

Item 1. Business