SUPPLEMENTAL INFORMATION

12 Months Ended

May 26, 2013

Suppletmental Information [Abstract]

NOTE 17. SUPPLEMENTAL INFORMATION

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

In Millions		May 26, 2013		May 27, 2012
Receivables:
From customers	$	1,466.3	$	1,345.3
Less allowance for doubtful accounts		(19.9)		(21.7)
Total	$	1,446.4	$	1,323.6

In Millions		May 26, 2013		May 27, 2012
Inventories:
Raw materials and packaging	$	403.0	$	334.4
Finished goods		1,228.7		1,211.8
Grain		135.6		155.3
Excess of FIFO over LIFO cost (a)		(221.8)		(222.7)
Total	$	1,545.5	$	1,478.8

(a) Inventories of $897.8 million as of May 26, 2013, and $930.2 million as of May 27, 2012, were valued at LIFO. During fiscal 2013 and fiscal 2012, LIFO inventory layers were reduced. Results of operations were not materially affected by these liquidations of LIFO inventory. The difference between replacement cost and the stated LIFO inventory value is not materially different from the reserve for the LIFO valuation method.

In Millions		May 26, 2013		May 27, 2012
Prepaid expenses and other current assets:
Other receivables	$	193.1	$	103.8
Prepaid expenses		168.6		178.3
Derivative receivables, primarily commodity-related		47.6		34.5
Grain contracts		7.5		8.3
Miscellaneous		20.8		33.2
Total	$	437.6	$	358.1

In Millions		May 26, 2013		May 27, 2012
Land, buildings, and equipment:
Land	$	101.2	$	75.9
Buildings		2,168.3		1,980.6
Buildings under capital lease		0.3		0.3
Equipment		5,731.1		5,257.2
Equipment under capital lease		9.0		9.0
Capitalized software		427.9		419.1
Construction in progress		495.1		542.6
Total land, buildings, and equipment		8,932.9		8,284.7
Less accumulated depreciation		(5,054.8)		(4,632.0)
Total	$	3,878.1	$	3,652.7

In Millions		May 26, 2013		May 27, 2012
Other assets:
Investments in and advances to joint ventures	$	478.5	$	529.0
Pension assets		131.8		42.7
Exchangeable note with related party		88.8		98.9
Life insurance		24.4		86.7
Miscellaneous		120.2		108.0
Total	$	843.7	$	865.3

In Millions		May 26, 2013		May 27, 2012
Other current liabilities:
Accrued trade and consumer promotions	$	635.3	$	560.7
Accrued payroll		417.3		367.4
Dividends payable		279.6		24.5
Accrued taxes		88.0		39.2
Accrued interest, including interest rate swaps		91.2		100.2
Grain contracts		30.0		20.6
Restructuring and other exit costs reserve		19.5		85.9
Derivative payable		4.1		26.1
Miscellaneous		262.7		202.0
Total	$	1,827.7	$	1,426.6

In Millions		May 26, 2013		May 27, 2012
Other noncurrent liabilities:
Accrued compensation and benefits, including obligations for underfunded other postretirement and postemployment benefit plans	$	1,560.2	$	1,853.1
Accrued taxes		277.1		230.9
Miscellaneous		115.6		105.8
Total	$	1,952.9	$	2,189.8

Certain Consolidated Statements of Earnings amounts are as follows:

		Fiscal Year
In Millions		2013		2012		2011
Depreciation and amortization	$	588.0	$	541.5	$	472.6
Research and development expense		237.9		245.4		235.0
Advertising and media expense (including production and communication costs)		895.0		913.7		843.7

The components of interest, net are as follows:

		Fiscal Year
Expense (Income), in Millions		2013		2012		2011
Interest expense	$	333.8	$	370.7	$	360.9
Capitalized interest		(4.3)		(8.9)		(7.2)
Interest income		(12.6)		(9.9)		(7.4)
Interest, net	$	316.9	$	351.9	$	346.3

Certain Consolidated Statements of Cash Flows amounts are as follows:

	Fiscal Year
In Millions		2013		2012		2011
Cash interest payments	$	293.0	$	344.3	$	333.1
Cash paid for income taxes		569.4		590.6		699.3