XML 16 R6.htm IDEA: XBRL DOCUMENT v3.24.4
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Nov. 24, 2024
Nov. 26, 2023
Cash flows from operating activities:    
Net income $ 751.4 $ 606.1
Adjustments to reconcile net income to net cash flows from operating activities:    
Depreciation and amortization 196.6 195.9
Asset impairment charges 87.6 50.7
Equity method investment earnings less than (in excess of) distributions (28.9) 76.9
Stock-settled share-based payments expense 29.8 3.5
Contributions to pension plans (5.9) (6.0)
Pension expense (benefit) (1.5) 5.5
Other items 4.7 13.0
Change in operating assets and liabilities excluding effects of business acquisitions and dispositions:    
Receivables 18.5 (29.8)
Inventories (73.8) (61.8)
Deferred income taxes and income taxes payable, net (206.4) 24.0
Prepaid expenses and other current assets (40.4) (30.6)
Accounts and other payables 97.3 7.7
Accrued payroll (66.2) (34.1)
Other accrued liabilities 15.4 30.3
Litigation accruals (24.0) 3.3
Net cash flows from operating activities 754.2 854.6
Cash flows from investing activities:    
Additions to property, plant and equipment (215.4) (214.0)
Sale of property, plant and equipment 2.7 0.5
Purchase of marketable securities   (5.1)
Sale of marketable securities   5.1
Purchase of businesses, net of cash acquired (230.6)  
Proceeds from divestitures, net of cash divested 76.8  
Other items 0.5 9.6
Net cash flows from investing activities (366.0) (203.9)
Cash flows from financing activities:    
Issuance of short-term borrowings, maturities greater than 90 days 70.6 93.9
Repayment of short-term borrowings, maturities greater than 90 days (66.3) (99.3)
Net issuance (repayment) of other short-term borrowings, maturities less than or equal to 90 days 260.1 (75.8)
Issuance of long-term debt   500.0
Repayment of long-term debt (270.2) (760.6)
Debt issuance costs   (3.1)
Repurchase of Conagra Brands, Inc. common shares (64.0)  
Cash dividends paid (335.1) (324.7)
Exercise of stock options and issuance of other stock awards, including tax withholdings (20.1) (13.3)
Other items (0.2) (0.5)
Net cash flows from financing activities (425.2) (683.4)
Effect of exchange rate changes on cash and cash equivalents (4.6) 1.6
Net change in cash and cash equivalents and restricted cash, including cash balances classified as assets held for sale (41.6) (31.1)
Less: Net change in cash balances classified as assets held for sale (1.3) 0.7
Net change in cash and cash equivalents (40.3) (31.8)
Cash and cash equivalents at beginning of period 77.7 93.3
Cash and cash equivalents at end of period $ 37.4 $ 61.5