Statements of Consolidated Shareholders’ Equity The J.M. Smucker Company Accumulated Other  Deferred Amount Compre- Total Common Additional Retained Compen- Due From hensive Shareholders’ (Dollars in thousands)  Shares Capital Income sation ESOP Trust Loss Equity Balance at May 1, 2000 $ 7,081 $ 17,190 $317,978 $(3,091) $(9,223) $ (9,327) $ 320,608 Net income 27,206 27,206 Foreign currency translation  adjustment (7,308) (7,308) Comprehensive Income 19,898 Purchase of treasury shares (1,074) (4,027) (75,863) (80,964) Stock plans 83 4,820 843 5,746 Cash dividends declared –  $0.68 a share  (16,095)  (16,095) Tax benefit of stock plans 1,295 1,295 Other 297 297 Balance at April 30, 2001 6,090 19,278 253,226 (2,248) (8,926) (16,635) 250,785 Net income 30,851 30,851 Foreign currency translation  adjustment 1,669 1,669 Minimum pension liability  (797) (797) Comprehensive Income 31,723 Purchase of treasury shares (11) (483) (634) (1,128) Stock plans 138 11,590 (477) 11,251 Cash dividends declared –  $0.68 a share  (15,650)  (15,650) Tax benefit of stock plans 2,799 2,799 Other 364 364 Balance at April 30, 2002 6,217 33,184 267,793 (2,725) (8,562) (15,763) 280,144 Net income 96,342 96,342 Foreign currency translation  adjustment 8,268 8,268 Minimum pension liability  (8,629) (8,629) Loss on available-for-sale securities (296) (296) Gains on cash flow hedging derivatives 236 236 Comprehensive Income 95,921 Merger share exchange (341) 341 — Business acquired 6,506 774,979 781,485 Stock plans 60 5,628 (100) 5,588 Cash dividends declared –  $0.83 a share (41,071) (41,071) Tax benefit of stock plans 1,635 1,635 Other 469 469 Balance at April 30, 2003 $12,442 $815,767 $323,064 $(2,825) $(8,093) $(16,184) $1,124,171 23 See notes to consolidated financial statements.