XML 47 R37.htm IDEA: XBRL DOCUMENT v3.19.1
BUSINESS SEGMENTS AND RELATED INFORMATION (Tables)
 9 Months Ended
Feb. 24, 2019
Segment Reporting [Abstract]  
Schedule of Segment Operations
General corporate expense, net interest expense, and income taxes have been excluded from segment operations.
 
Thirteen weeks ended
 
Thirty-nine weeks ended
 
February 24,
2019
 
February 25,
2018
 
February 24,
2019
 
February 25,
2018
Net sales
 
 
 
 
 
 
 
Grocery & Snacks
$
862.6

 
$
838.3

 
$
2,533.4

 
$
2,484.5

Refrigerated & Frozen
711.2

 
688.5

 
2,117.3

 
2,062.3

International
198.0

 
223.4

 
600.1

 
634.6

Foodservice
223.0

 
244.3

 
703.3

 
790.7

Pinnacle Foods
712.3

 
—

 
971.1

 
—

Total net sales
$
2,707.1

 
$
1,994.5

 
$
6,925.2

 
$
5,972.1

Operating profit
 
 
 
 
 
 
 
Grocery & Snacks
$
193.5

 
$
175.6

 
$
581.2

 
$
551.6

Refrigerated & Frozen
131.4

 
126.1

 
365.0

 
356.5

International
25.1

 
29.5

 
87.2

 
68.6

Foodservice
29.2

 
24.0

 
89.4

 
94.6

Pinnacle Foods
101.6

 
—

 
130.3

 
—

Total operating profit
$
480.8

 
$
355.2

 
$
1,253.1

 
$
1,071.3

Equity method investment earnings
12.7

 
29.0

 
66.6

 
79.6

General corporate expense
62.6

 
108.5

 
386.8

 
231.7

Pension and postretirement non-service income
(9.8
)
 
(21.9
)
 
(29.7
)
 
(60.0
)
Interest expense, net
130.9

 
39.8

 
260.5

 
114.2

Income tax expense (benefit)
67.2

 
(91.4
)
 
147.0

 
138.1

Income from continuing operations
$
242.6

 
$
349.2

 
$
555.1

 
$
726.9

Less: Net income attributable to noncontrolling interests
0.6

 
0.9

 
1.4

 
2.7

Income from continuing operations attributable to Conagra Brands, Inc.
$
242.0

 
$
348.3

 
$
553.7

 
$
724.2


The following table presents further disaggregation of our net sales:
 
Thirteen weeks ended
 
Thirty-nine weeks ended
 
February 24,
2019
 
February 25,
2018
 
February 24,
2019
 
February 25,
2018
Snacks
$
354.8

 
$
303.7

 
$
1,011.6

 
$
889.2

Other shelf-stable
780.7

 
534.6

 
1,890.5

 
1,595.3

Frozen
901.8

 
514.5

 
2,070.8

 
1,499.5

Refrigerated
199.9

 
174.0

 
580.5

 
562.8

International
219.4

 
223.4

 
630.1

 
634.6

Foodservice
250.5

 
244.3

 
741.7

 
790.7

Total net sales
$
2,707.1

 
$
1,994.5

 
$
6,925.2

 
$
5,972.1
Schedule of Net Derivative Gains (Losses) from Economic Hedges of Forecasted Commodity Consumption and Foreign Currency Risk
The following table presents the net derivative gains (losses) from economic hedges of forecasted commodity consumption and the foreign currency risk of certain forecasted transactions, under this methodology:
 
Thirteen weeks ended
 
Thirty-nine weeks ended
 
February 24,
2019
 
February 25,
2018
 
February 24,
2019
 
February 25,
2018
Gross derivative gains (losses) incurred
$
0.8

 
$
(0.5
)
 
$
(3.4
)
 
$
(4.9
)
Less: Net derivative gains (losses) allocated to reporting segments
1.0

 
(1.3
)
 
0.4

 
(6.8
)
Net derivative gains (losses) recognized in general corporate expenses
$
(0.2
)
 
$
0.8

 
$
(3.8
)
 
$
1.9

Net derivative gains (losses) allocated to Grocery & Snacks
$
—

 
$
0.5

 
$
(1.0
)
 
$
(0.5
)
Net derivative losses allocated to Refrigerated & Frozen
(0.2
)
 
(0.3
)
 
(0.7
)
 
(0.2
)
Net derivative gains (losses) allocated to International
1.3

 
(1.5
)
 
2.4

 
(5.9
)
Net derivative losses allocated to Foodservice
(0.1
)
 
—

 
(0.3
)
 
(0.2
)
Net derivative gains (losses) included in segment operating profit
$
1.0

 
$
(1.3
)
 
$
0.4

 
$
(6.8
)