STOCKHOLDERS' EQUITY

12 Months Ended

May 28, 2017

STOCKHOLDERS' EQUITY [Abstract]

STOCKHOLDERS' EQUITY

NOTE 10. STOCKHOLDERS’ EQUITY

Cumulative preference stock of 5.0 million shares, without par value, is authorized but unissued.

On May 6, 2014, our Board of Directors authorized the repurchase of up to 100 million shares of our common stock. Purchases under the authorization can be made in the open market or in privately negotiated transactions, including the use of call options and other derivative instruments, Rule 10b5-1 trading plans, and accelerated repurchase programs. The authorization has no specified termination date.

Share repurchases were as follows:

		Fiscal Year
In Millions	2017	2016	2015
Shares of common stock	25.4	10.7	22.3
Aggregate purchase price	$1,651.5	$606.7	$1,161.9

The following table provides details of total comprehensive income (loss):

	Fiscal 2017
	General Mills							Noncontrolling Interests		Redeemable Interest
In Millions		Pretax		Tax		Net		Net		Net
Net earnings, including earnings attributable to redeemable and noncontrolling interests					$	1,657.5	$	11.3	$	32.3
Other comprehensive income (loss):
Foreign currency translation	$	19.5	$	-		19.5		2.5		(15.7)
Net actuarial income		307.3		(109.4)		197.9		-		-
Other fair value changes:
Securities		1.3		(0.5)		0.8		-		-
Hedge derivatives		65.9		(16.1)		49.8		-		3.5
Reclassification to earnings:
Hedge derivatives (a)		(25.2)		2.4		(22.8)		-		(2.9)
Amortization of losses and prior service costs (b)		197.2		(74.7)		122.5		-		-
Other comprehensive income (loss)		566.0		(198.3)		367.7		2.5		(15.1)
Total comprehensive income					$	2,025.2	$	13.8	$	17.2

(a) Gain reclassified from AOCI into earnings is reported in interest, net for interest rate swaps and in cost of sales and SG&A expenses for foreign exchange contracts.

(b) Loss reclassified from AOCI into earnings is reported in SG&A expenses.

	Fiscal 2016
	General Mills							Noncontrolling Interests		Redeemable Interest
In Millions		Pretax		Tax		Net		Net		Net
Net earnings, including earnings attributable to redeemable and noncontrolling interests					$	1,697.4	$	8.4	$	31.0
Other comprehensive Income (loss):
Foreign currency translation	$	(107.6)	$	-		(107.6)		2.8		(3.9)
Net actuarial loss		(514.2)		188.3		(325.9)		-		-
Other fair value changes:
Securities		0.2		(0.1)		0.1		-		-
Hedge derivatives		16.5		(2.2)		14.3		-		1.7
Reclassification to earnings:
Hedge derivatives (a)		(13.5)		2.5		(11.0)		-		1.5
Amortization of losses and prior service costs (b)		206.8		(78.2)		128.6		-		-
Other comprehensive income (loss)		(411.8)		110.3		(301.5)		2.8		(0.7)
Total comprehensive income					$	1,395.9	$	11.2	$	30.3

(a) Gain reclassified from AOCI into earnings is reported in interest, net for interest rate swaps and in cost of sales

and SG&A expenses for foreign exchange contracts.

(b) Loss reclassified from AOCI into earnings is reported in SG&A expenses.

	Fiscal 2015
	General Mills							Noncontrolling Interests		Redeemable Interest
In Millions		Pretax		Tax		Net		Net		Net
Net earnings, including earnings attributable to redeemable and noncontrolling interests					$	1,221.3	$	8.2	$	29.9
Other comprehensive income (loss):
Foreign currency translation	$	(727.9)	$	-		(727.9)		(78.2)		(151.8)
Net actuarial loss		(561.1)		202.7		(358.4)		-		-
Other fair value changes:
Securities		1.3		(0.5)		0.8		-		-
Hedge derivatives		13.6		(4.8)		8.8		-		(4.7)
Reclassification to earnings:
Hedge derivatives (a)		0.7		0.5		1.2		-		3.7
Amortization of losses and prior service costs (b)		170.2		(65.1)		105.1		-		-
Other comprehensive income (loss)		(1,103.2)		132.8		(970.4)		(78.2)		(152.8)
Total comprehensive income (loss)					$	250.9	$	(70.0)	$	(122.9)

(a) Loss reclassified from AOCI into earnings is reported in interest, net for interest rate swaps and in cost of sales

and SG&A expenses for foreign exchange contracts.

(b) Loss reclassified from AOCI into earnings is reported in SG&A expenses.

In fiscal 2017, 2016, and 2015, except for reclassifications to earnings, changes in other comprehensive income (loss) were primarily non-cash items.

Accumulated other comprehensive loss balances, net of tax effects, were as follows:

In Millions		2017		2016
Foreign currency translation adjustments	$	(624.7)	$	(644.2)
Unrealized gain (loss) from:
Securities		4.6		3.8
Hedge derivatives		1.5		(25.5)
Pension, other postretirement, and postemployment benefits:
Net actuarial loss		(1,645.4)		(1,958.2)
Prior service credits		19.5		11.9
Accumulated other comprehensive loss	$	(2,244.5)	$	(2,612.2)