SUPPLEMENTAL INFORMATION

12 Months Ended

May 29, 2011

Notes To Consolidated Financial Statements

Supplemental Information

NOTE 17. SUPPLEMENTAL INFORMATION

The components of certain Consolidated Balance Sheet accounts are as follows:

In Millions		May 29, 2011		May 30, 2010
Receivables:
From customers	$	1,178.6	$	1,057.4
Less allowance for doubtful accounts		(16.3)		(15.8)
Total	$	1,162.3	$	1,041.6

In Millions		May 29, 2011		May 30, 2010
Inventories:
Raw materials and packaging	$	286.2	$	247.5
Finished goods		1,273.6		1,131.4
Grain		218.0		107.4
Excess of FIFO or weighted-average cost over LIFO cost (a)		(168.5)		(142.3)
Total	$	1,609.3	$	1,344.0

(a)        Inventories of $1,034.1million as of May 29, 2011, and $958.3million as of May 30, 2010, were valued at LIFO.

In Millions		May 29, 2011		May 30, 2010
Prepaid expenses and other current assets:
Prepaid expenses	$	161.0	$	127.5
Accrued interest receivable, including interest rate swaps		29.0		64.9
Derivative receivables, primarily commodity-related		109.1		48.8
Other receivables		104.7		101.4
Grain contracts		57.3		11.4
Miscellaneous		22.4		24.5
Total	$	483.5	$	378.5

In Millions		May 29, 2011		May 30, 2010
Land, buildings, and equipment:
Land	$	61.2	$	58.0
Buildings		1,777.7		1,653.8
Buildings under capital lease		25.0		19.6
Equipment		4,719.7		4,405.6
Equipment under capital lease		18.9		25.0
Capitalized software		367.7		318.7
Construction in progress		521.9		469.0
Total land, buildings, and equipment		7,492.1		6,949.7
Less accumulated depreciation		(4,146.2)		(3,822.0)
Total	$	3,345.9	$	3,127.7

In Millions		May 29, 2011		May 30, 2010
Other assets:
Pension assets	$	128.6	$	2.2
Investments in and advances to joint ventures		519.1		398.1
Life insurance		87.2		88.2
Derivative receivables		13.3		130.1
Miscellaneous		114.3		144.8
Total	$	862.5	$	763.4

In Millions		May 29, 2011		May 30, 2010
Other current liabilities:
Accrued payroll	$	303.3	$	331.4
Accrued interest		114.0		136.5
Accrued trade and consumer promotions		463.0		555.2
Accrued taxes		80.4		440.2
Derivative payable		34.8		18.1
Accrued customer advances		36.4		25.5
Grain contracts		28.7		12.7
Miscellaneous		260.9		242.6
Total	$	1,321.5	$	1,762.2

In Millions		May 29, 2011		May 30, 2010
Other noncurrent liabilities:
Interest rate swaps	$	22.2	$	180.2
Accrued compensation and benefits, including obligations for underfunded other postretirement and postemployment benefit plans		1,412.8		1,588.1
Accrued income taxes		233.3		276.3
Miscellaneous		64.9		74.1
Total	$	1,733.2	$	2,118.7

Certain Consolidated Statements of Earnings amounts are as follows:

		Fiscal Year
In Millions		2011		2010		2009
Depreciation and amortization	$	472.6	$	457.1	$	453.6
Research and development expense		235.0		218.3		208.2
Advertising and media expense (including production and communication costs)		843.7		908.5		732.1

The components of interest, net are as follows:

		Fiscal Year
Expense (Income), in Millions		2011		2010		2009
Interest expense	$	360.9	$	374.5	$	409.5
Capitalized interest		(7.2)		(6.2)		(5.1)
Interest income		(7.4)		(6.8)		(21.6)
Loss on debt repurchase		-		40.1		-
Interest, net	$	346.3	$	401.6	$	382.8

Certain Consolidated Statements of Cash Flows amounts are as follows:

	Fiscal Year
In Millions		2011		2010		2009
Cash interest payments	$	333.1	$	384.1	$	292.8
Cash paid for income taxes		699.3		672.5		395.3

In fiscal 2009, we acquired Humm Foods by issuing 1.8million shares of our common stock to its shareholders, with a value of $55.0 million, as consideration. This acquisition is treated as a non-cash transaction in our Consolidated Statement of Cash Flows.