Goodwill and Other Intangible Assets (Tables)

9 Months Ended

Feb. 26, 2017

Goodwill and Other Intangible Assets [Abstract]

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

In Millions		Feb. 26, 2017		May 29, 2016
Goodwill	$	8,705.8	$	8,741.2
Other intangible assets:
Intangible assets not subject to amortization:
Brands and other indefinite-lived intangibles		4,143.7		4,147.5
Intangible assets subject to amortization:
Franchise agreements, customer relationships, and other finite-lived intangibles		514.4		536.9
Less accumulated amortization		(158.4)		(145.8)
Intangible assets subject to amortization, net		356.0		391.1
Other intangible assets		4,499.7		4,538.6
Total	$	13,205.5	$	13,279.8

Schedule of changes in the carrying amount of goodwill [Table Text Block]

In Millions		North America Retail		Convenience Stores & Foodservice		Europe & Australia		Asia & Latin America		Joint Ventures		Total
Balance as of May 29, 2016	$	6,410.3	$	921.1	$	716.5	$	287.1	$	406.2	$	8,741.2
Divestiture		-		(2.3)		-		-		-		(2.3)
Other activity, primarily foreign
currency translation		(0.6)		-		(50.2)		37.9		(20.2)		(33.1)
Balance as of Feb. 26, 2017	$	6,409.7	$	918.8	$	666.3	$	325.0	$	386.0	$	8,705.8

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

In Millions		Total
Balance as of May 29, 2016	$	4,538.6
Other activity, primarily foreign currency translation		(38.9)
Balance as of Feb. 26, 2017	$	4,499.7

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

Our indefinite-lived intangible asset test 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 indefinite-lived intangible assets as their related fair values were substantially in excess of the carrying values, except for the Immaculate Baking brand intangible asset.

The excess fair value above the carrying value of the Latin America reporting unit and the Immaculate Baking brand intangible asset is as follows:

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