BUSINESS SEGMENTS AND RELATED INFORMATION (Tables)

6 Months Ended

Nov. 23, 2025

BUSINESS SEGMENTS AND RELATED INFORMATION

Schedule of segment reporting information

	Thirteen Weeks Ended November 23, 2025
			Grocery & Snacks		Refrigerated & Frozen		International		Foodservice		Total
Net sales		$	1,209.1	$	1,251.2	$	230.4	$	288.4	$	2,979.1
Segment cost of goods sold1			863.5		1,011.3		170.1		236.3		2,281.2
Segment SG&A expenses2			114.4		112.4		28.2		20.8		275.8
Segment operating profit		$	231.2	$	127.5	$	32.1	$	31.3	$	422.1
General corporate expenses3											58.4
Other intangible asset impairment charges											197.0
Goodwill impairment charges											771.3
Loss on divestitures											0.2
Other charges, net4											(7.2)
Operating loss										$	(597.6)
Pension and postretirement non-service income											6.1
Interest expense, net											96.0
Equity method investment earnings											32.2
Loss before income taxes										$	(655.3)

	Thirteen Weeks Ended November 24, 2024
			Grocery & Snacks		Refrigerated & Frozen		International		Foodservice		Total
Net sales		$	1,321.0	$	1,338.5	$	243.4	$	292.2	$	3,195.1
Segment cost of goods sold1			906.6		1,034.8		175.3		236.4		2,353.1
Segment SG&A expenses2			118.7		105.6		28.7		20.0		273.0
Segment operating profit		$	295.7	$	198.1	$	39.4	$	35.8	$	569.0
General corporate expenses3											69.9
Other intangible asset impairment charges											18.9
Other charges, net4											77.6
Operating profit										$	402.6
Pension and postretirement non-service income											3.1
Interest expense, net											108.2
Equity method investment earnings											48.5
Income before income taxes										$	346.0

	Twenty-Six Weeks Ended November 23, 2025
			Grocery & Snacks		Refrigerated & Frozen		International		Foodservice		Total
Net sales		$	2,288.7	$	2,327.4	$	442.7	$	552.9	$	5,611.7
Segment cost of goods sold1			1,616.4		1,878.2		321.5		454.2		4,270.3
Segment SG&A expenses2			220.3		207.3		51.4		39.7		518.7
Segment operating profit		$	452.0	$	241.9	$	69.8	$	59.0	$	822.7
General corporate expenses3											150.7
Other intangible asset impairment charges											197.0
Goodwill impairment charges											771.3
Gain on divestitures											(42.2)
Other charges, net4											(3.9)
Operating loss										$	(250.2)
Pension and postretirement non-service income											12.2
Interest expense, net											189.8
Equity method investment earnings											61.6
Loss before income taxes										$	(366.2)

	Twenty-Six Weeks Ended November 24, 2024
			Grocery & Snacks		Refrigerated & Frozen		International		Foodservice		Total
Net sales		$	2,503.7	$	2,424.9	$	502.5	$	558.9	$	5,990.0
Segment cost of goods sold1			1,734.8		1,869.5		368.1		449.9		4,422.3
Segment SG&A expenses2			219.9		198.2		59.2		38.1		515.4
Segment operating profit		$	549.0	$	357.2	$	75.2	$	70.9	$	1,052.3
General corporate expenses3											162.1
Other intangible asset impairment charges											18.9
Loss on divestitures											2.3
Other charges, net4											64.8
Operating profit										$	804.2
Pension and postretirement non-service income											6.2
Interest expense, net											214.0
Equity method investment earnings											77.6
Income before income taxes										$	674.0

¹ Segment cost of goods sold does not include items recorded in the Cost of goods sold line on our Condensed Consolidated Statements of Operations that are presented in the Other charges, net line of this table.

² Segment SG&A expenses are regularly provided to the CODM as a percent of net sales. Segment SG&A expenses do not include items recorded in the Selling, general and administrative expenses line of our Condensed Consolidated Statements of Operations that are presented in the Other charges, net line of this table.

³ General corporate expenses relate to certain costs that are shared across multiple segments but are not directly attributable, which include executive compensation, share-based payment expense, and costs associated with certain corporate functions.

⁴ Other charges include net charges related to our restructuring plans and fire related insurance recoveries.

	Thirteen Weeks Ended				Twenty-Six Weeks Ended
	November 23, 2025		November 24, 2024		November 23, 2025		November 24, 2024
Frozen	$	1,055.2	$	1,140.2	$	1,953.7	$	2,053.6
Staples
Other shelf-stable		625.2		751.0		1,193.7		1,441.3
Refrigerated		196.0		198.3		373.7		371.3
Snacks		583.9		570.0		1,095.0		1,062.4
International		230.4		243.4		442.7		502.5
Foodservice		288.4		292.2		552.9		558.9
Total net sales	$	2,979.1	$	3,195.1	$	5,611.7	$	5,990.0

	Thirteen Weeks Ended				Twenty-Six Weeks Ended
	November 23, 2025		November 24, 2024		November 23, 2025		November 24, 2024
Grocery & Snacks	$	36.7	$	38.2	$	72.8	$	76.7
Refrigerated & Frozen		41.1		41.1		81.8		83.1
International		3.6		3.4		7.1		7.5
Foodservice		11.7		11.3		22.9		22.2
Total Reporting Segments		93.1		94.0		184.6		189.5
Corporate		3.9		3.5		7.7		7.1
Total Company	$	97.0	$	97.5	$	192.3	$	196.6