STOCKHOLDERS' EQUITY

3 Months Ended

Aug. 25, 2024

Notes to Financial Statements

STOCKHOLDERS' EQUITY

15. STOCKHOLDERS’ EQUITY

The following table presents a reconciliation of our stockholders’ equity accounts for the thirteen weeks ended August 25, 2024:

	Conagra Brands, Inc. Stockholders' Equity
								Accumulated
				Additional				Other
	Common	Common		Paid-in		Retained		Comprehensive		Treasury		Noncontrolling		Total
	Shares	Stock		Capital		Earnings		Loss		Stock		Interests		Equity
Balance at May 26, 2024	584.2	$	2,921.2	$	2,363.2	$	6,276.3	$	(35.5)	$	(3,084.8)	$	70.9	$	8,511.3
Stock option and incentive plans					(33.5)		(0.5)				34.8				0.8
Currency translation adjustments									22.5				38.0		60.5
Repurchase of common shares											(64.0)				(64.0)
Derivative adjustments									(3.3)						(3.3)
Activities of noncontrolling interests													(108.9)		(108.9)
Pension and postretirement healthcare benefits									0.2						0.2
Dividends declared on common stock; $0.35 per share							(167.8)								(167.8)
Net income attributable to Conagra Brands, Inc.							466.8								466.8
Balance at August 25, 2024	584.2	$	2,921.2	$	2,329.7	$	6,574.8	$	(16.1)	$	(3,114.0)	$	—	$	8,695.6

The following table presents a reconciliation of our stockholders’ equity accounts for the thirteen weeks ended August 27, 2023:

	Conagra Brands, Inc. Stockholders' Equity
								Accumulated
				Additional				Other
	Common	Common		Paid-in		Retained		Comprehensive		Treasury		Noncontrolling		Total
	Shares	Stock		Capital		Earnings		Loss		Stock		Interests		Equity
Balance at May 28, 2023	584.2	$	2,921.2	$	2,376.9	$	6,599.4	$	(44.4)	$	(3,116.3)	$	70.5	$	8,807.3
Stock option and incentive plans					(42.9)		1.1				25.6				(16.2)
Currency translation adjustments									10.7				(0.1)		10.6
Derivative adjustments									1.6						1.6
Activities of noncontrolling interests													0.2		0.2
Pension and postretirement healthcare benefits									(0.8)						(0.8)
Dividends declared on common stock; $0.35 per share							(167.3)								(167.3)
Net income attributable to Conagra Brands, Inc.							319.7								319.7
Balance at August 27, 2023	584.2	$	2,921.2	$	2,334.0	$	6,752.9	$	(32.9)	$	(3,090.7)	$	70.6	$	8,955.1

The following table details the accumulated balances for each component of other comprehensive loss, net of tax:

	August 25, 2024		May 26, 2024
Currency translation losses, net of reclassification adjustments	$	(66.7)	$	(89.2)
Derivative adjustments, net of reclassification adjustments		25.9		29.2
Pension and postretirement benefit obligations, net of reclassification adjustments		24.7		24.5
Accumulated other comprehensive loss	$	(16.1)	$	(35.5)

The following tables summarize the reclassifications from accumulated other comprehensive income (loss) into income:

					Affected Line Item in the Condensed Consolidated Statement of
	Thirteen Weeks Ended				Earnings1
	August 25, 2024		August 27, 2023
Net derivative adjustments:
Cash flow hedges	$	(0.7)	$	(0.9)	Interest expense, net
Cash flow hedges		(1.2)		(1.1)	Equity method investment earnings
		(1.9)		(2.0)	Total before tax
		0.5		0.5	Income tax expense
	$	(1.4)	$	(1.5)	Net of tax
Pension and postretirement liabilities:
Net actuarial gain	$	(1.1)	$	(1.2)	Pension and postretirement non-service income
		(1.1)		(1.2)	Total before tax
		0.2		0.3	Income tax expense
	$	(0.9)	$	(0.9)	Net of tax
Currency translation losses	$	41.8	$	—	Selling, general and administrative expenses 2
		41.8		—	Total before tax
		—		—	Income tax expense
	$	41.8	$	—	Net of tax

¹Amounts in parentheses indicate income recognized in the Condensed Consolidated Statements of Earnings.

²Amount represents the reclassification for currency translation losses in connection with the sale of ATFL (see Note 3).