Goodwill and Other Intangible Assets (Tables)

12 Months Ended

May 29, 2016

GOODWILL AND OTHER INTANGIBLE ASSETS [Abstract]

Components of goodwill and other intangible assets [Table Text Block]

In Millions		May 29, 2016		May 31, 2015
Goodwill	$	8,741.2	$	8,874.9
Other intangible assets:
Intangible assets not subject to amortization:
Brands and other indefinite-lived intangibles		4,147.5		4,262.1
Intangible assets subject to amortization:
Franchise agreements, customer relationships, and other finite-lived intangibles		536.9		544.0
Less accumulated amortization		(145.8)		(129.1)
Intangible assets subject to amortization		391.1		414.9
Other intangible assets		4,538.6		4,677.0
Total	$	13,279.8	$	13,551.9

Changes in the carrying amount of goodwill [Table Text Block]

In Millions		U.S. Retail		International		Convenience Stores and Foodservice		Joint Ventures		Total
Balance as of May 26, 2013	$	5,841.4	$	1,387.0	$	921.1	$	472.7	$	8,622.2
Divestiture		(12.2)		-		-		-		(12.2)
Other activity, primarily foreign
currency translation		-		15.0		-		25.5		40.5
Balance as of May 25, 2014		5,829.2		1,402.0		921.1		498.2		8,650.5
Acquisition		589.8		-		-		-		589.8
Other activity, primarily foreign
currency translation		-		(268.7)		-		(96.7)		(365.4)
Balance as of May 31, 2015		6,419.0		1,133.3		921.1		401.5		8,874.9
Acquisitions		54.1		29.4		-		-		83.5
Divestitures		(180.2)		(6.2)		-		-		(186.4)
Other activity, primarily foreign
currency translation		-		(35.5)		-		4.7		(30.8)
Balance as of May 29, 2016	$	6,292.9	$	1,121.0	$	921.1	$	406.2	$	8,741.2

Changes in the carrying amount of other intangible assets [Table Text Block]

In Millions		U.S. Retail		International		Joint Ventures		Total
Balance as of May 26, 2013	$	3,312.4	$	1,638.2	$	64.5	$	5,015.1
Other activity, primarily
foreign currency translation		(4.9)		3.6		0.5		(0.8)
Balance as of May 25, 2014		3,307.5		1,641.8		65.0		5,014.3
Acquisition		268.4		-		-		268.4
Impairment charge		(260.0)		-		-		(260.0)
Other activity, primarily
foreign currency translation		(4.0)		(340.3)		(1.4)		(345.7)
Balance as of May 31, 2015		3,311.9		1,301.5		63.6		4,677.0
Acquisitions		23.1		7.0		-		30.1
Divestiture		(119.6)		-		-		(119.6)
Other activity, primarily amortization
and foreign currency translation		(3.7)		(44.6)		(0.6)		(48.9)
Balance as of May 29, 2016	$	3,211.7	$	1,263.9	$	63.0	$	4,538.6

Schedule of at-risk brand intangibles [Table Text Block]

As of our fiscal 2016 assessment date, there was no impairment of any of our indefinite-lived intangible assets as their related fair values were substantially in excess of the carrying values, except for the Mountain High and Uncle Toby’s brand assets. The excess fair value above the carrying value of these brand assets is as follows:

		Excess Fair Value
	Carrying	Above Carrying
In Millions	Value	Value
Mountain High	$35.4	20%
Uncle Toby's	$52.2	11%