SUPPLEMENTAL INFORMATION

12 Months Ended

May 29, 2016

NOTE 17. SUPPLEMENTAL INFORMATION

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

In Millions		May 29, 2016		May 31, 2015
Receivables:
Customers	$	1,390.4	$	1,412.0
Less allowance for doubtful accounts		(29.6)		(25.3)
Total	$	1,360.8	$	1,386.7

In Millions		May 29, 2016		May 31, 2015
Inventories:
Raw materials and packaging	$	397.3	$	390.8
Finished goods		1,163.1		1,268.6
Grain		72.6		95.7
Excess of FIFO over LIFO cost (a)		(219.3)		(214.2)
Total	$	1,413.7	$	1,540.9

(a) Inventories of $841.0 million as of May 29, 2016, and $867.5 million as of May 31, 2015, were valued at LIFO.

During fiscal 2015, 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 29, 2016		May 31, 2015
Prepaid expenses and other current assets:
Other receivables	$	159.3	$	148.8
Prepaid expenses		177.9		169.3
Derivative receivables, primarily commodity-related		44.6		80.9
Grain contracts		1.8		3.3
Miscellaneous		15.4		21.5
Total	$	399.0	$	423.8

In Millions		May 29, 2016		May 31, 2015
Land, buildings, and equipment:
Land	$	92.9	$	96.0
Buildings		2,236.0		2,272.7
Buildings under capital lease		0.3		0.3
Equipment		5,945.6		6,091.1
Equipment under capital lease		3.0		9.8
Capitalized software		523.0		499.0
Construction in progress		702.7		622.2
Total land, buildings, and equipment		9,503.5		9,591.1
Less accumulated depreciation		(5,759.9)		(5,807.8)
Total	$	3,743.6	$	3,783.3

In Millions		May 29, 2016		May 31, 2015
Other assets:
Investments in and advances to joint ventures	$	518.9	$	530.6
Pension assets		90.9		138.2
Exchangeable note with related party		12.7		30.7
Life insurance		26.3		26.6
Miscellaneous		102.9		85.1
Total	$	751.7	$	811.2

In Millions		May 29, 2016		May 31, 2015
Other current liabilities:
Accrued trade and consumer promotions	$	563.7	$	564.7
Accrued payroll		386.4		361.8
Dividends payable		23.8		27.9
Accrued taxes		110.5		20.7
Accrued interest, including interest rate swaps		90.4		91.8
Grain contracts		5.5		7.8
Restructuring and other exit costs reserve		76.6		120.8
Derivative payable		35.6		122.9
Miscellaneous		302.5		271.5
Total	$	1,595.0	$	1,589.9

In Millions		May 29, 2016		May 31, 2015
Other noncurrent liabilities:
Accrued compensation and benefits, including obligations for underfunded other postretirement benefit and postemployment benefit plans	$	1,755.0	$	1,451.4
Accrued taxes		204.0		202.5
Miscellaneous		128.6		90.9
Total	$	2,087.6	$	1,744.8

Certain Consolidated Statements of Earnings amounts are as follows:

		Fiscal Year
In Millions		2016		2015		2014
Depreciation and amortization	$	608.1	$	588.3	$	585.4
Research and development expense		222.1		229.4		243.6
Advertising and media expense (including production and communication costs)		754.4		823.1		869.5

The components of interest, net are as follows:

		Fiscal Year
Expense (Income), in Millions		2016		2015		2014
Interest expense	$	319.6	$	335.5	$	323.4
Capitalized interest		(7.7)		(6.9)		(4.9)
Interest income		(8.1)		(13.2)		(16.1)
Interest, net	$	303.8	$	315.4	$	302.4

Certain Consolidated Statements of Cash Flows amounts are as follows:

	Fiscal Year
In Millions		2016		2015		2014
Cash interest payments	$	292.0	$	305.3	$	288.3
Cash paid for income taxes		533.8		562.6		757.2