J.M. Smucker says it will no longer elect to qualify commodity, forex derivative Additionally, the company has modified its segment profit calculation and redefined non-GAAP income and income per share measures to exclude gains and losses on commodity and foreign exchange derivatives until the related inventory is sold. The company believes this change more accurately aligns the derivative gains and losses with the underlying exposure being hedged and allows the realization of the economic effect of the derivative without the mark-to-market volatility within segment profit and non-GAAP income and income per share.
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