Goodwill and Other Intangible Assets (Tables)

6 Months Ended

Nov. 27, 2016

Goodwill and Other Intangible Assets [Abstract]

Schedule of components of goodwill and other intangible assets [Table Text Block]

In Millions		Nov. 27, 2016		May 29, 2016
Goodwill	$	8,679.1	$	8,741.2
Other intangible assets:
Intangible assets not subject to amortization:
Brands and other indefinite-lived intangibles		4,125.4		4,147.5
Intangible assets subject to amortization:
Franchise agreements, customer relationships, and other finite-lived intangibles		513.7		536.9
Less accumulated amortization		(151.7)		(145.8)
Intangible assets subject to amortization, net		362.0		391.1
Other intangible assets		4,487.4		4,538.6
Total	$	13,166.5	$	13,279.8

Schedule of 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 29, 2016	$	6,292.9	$	1,121.0	$	921.1	$	406.2	$	8,741.2
Divestiture		-		-		(2.3)		-		(2.3)
Other activity, primarily foreign
currency translation		-		(40.8)		-		(19.0)		(59.8)
Balance as of Nov. 27, 2016	$	6,292.9	$	1,080.2	$	918.8	$	387.2	$	8,679.1

Schedule of 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 29, 2016	$	3,211.7	$	1,263.9	$	63.0	$	4,538.6
Other activity, primarily foreign currency translation		(1.8)		(50.5)		1.1		(51.2)
Balance as of Nov. 27, 2016	$	3,209.9	$	1,213.4	$	64.1	$	4,487.4

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

Our annual goodwill and indefinite-lived intangible asset testing was performed on the first day of the second quarter of fiscal 2017. As of the assessment date, there was no impairment of any of our goodwill or indefinite-lived intangible assets as their related fair values were substantially in excess of the carrying values, except for the Immaculate Baking brand and the Latin America reporting unit. The excess fair value above the carrying value of this brand asset and reporting unit is as follows:

In Millions		Carrying Value	Excess Fair Value Above Carrying Value
Immaculate Baking	$	12.0	17%
Latin America	$	523.0	15%