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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Feb. 25, 2024
Feb. 26, 2023
Cash flows from operating activities:    
Net income $ 914.9 $ 646.9
Adjustments to reconcile net income to net cash flows from operating activities:    
Depreciation and amortization 291.7 277.0
Asset impairment charges 50.9 417.7
Equity method investment earnings less than (in excess of) distributions 69.5 (69.8)
Stock-settled share-based payments expense 18.7 68.8
Contributions to pension plans (9.2) (9.6)
Pension expense (benefit) 9.3 (10.4)
Other items 13.9 (0.9)
Change in operating assets and liabilities:    
Receivables 25.5 (96.7)
Inventories 73.3 (340.4)
Deferred income taxes and income taxes payable, net 43.1 (58.8)
Prepaid expenses and other current assets (31.3) 2.4
Accounts and other payables (36.5) (157.9)
Accrued payroll 4.6 7.4
Other accrued liabilities 76.2 71.8
Litigation accruals 16.7 (18.6)
Deferred employer payroll taxes 0.0 (25.5)
Net cash flows from operating activities 1,531.3 703.4
Cash flows from investing activities:    
Additions to property, plant and equipment (309.6) (267.4)
Sale of property, plant and equipment 0.6 3.1
Purchase of marketable securities (8.2) (3.4)
Sale of marketable securities 8.2 3.4
Proceeds from insurance recoveries 11.9 0.0
Other items 1.5 4.1
Net cash flows from investing activities (295.6) (260.2)
Cash flows from financing activities:    
Issuance of short-term borrowings, maturities greater than 90 days 134.5 239.5
Repayment of short-term borrowings, maturities greater than 90 days (146.6) (259.8)
Net (repayment) issuance of other short-term borrowings, maturities less than or equal to 90 days (461.7) 388.2
Issuance of long-term debt 500.0 500.0
Repayment of long-term debt (766.8) (708.0)
Debt issuance costs (3.3) (4.1)
Repurchase of Conagra Brands, Inc. common shares 0.0 (150.0)
Cash dividends paid (492.0) (466.4)
Exercise of stock options and issuance of other stock awards, including tax withholdings (13.8) 0.9
Other items (0.6) 5.2
Net cash flows from financing activities (1,250.3) (454.5)
Effect of exchange rate changes on cash and cash equivalents 0.0 (0.8)
Net change in cash and cash equivalents, including cash balances classified as assets held for sale (14.6) (12.1)
Less: Net change in cash balances classified as assets held for sale 0.2 0.0
Net change in cash and cash equivalents (14.8) (12.1)
Cash and cash equivalents at beginning of period 93.3 82.2
Cash and cash equivalents at end of period $ 78.5 $ 70.1