SUPPLEMENTAL INFORMATION

12 Months Ended

May 28, 2017

SUPPLEMENTAL INFORMATION [Abstract]

SUPPLEMENTAL INFORMATION

NOTE 17. SUPPLEMENTAL INFORMATION

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

In Millions		May 28, 2017		May 29, 2016
Receivables:
Customers	$	1,454.4	$	1,390.4
Less allowance for doubtful accounts		(24.3)		(29.6)
Total	$	1,430.1	$	1,360.8

In Millions		May 28, 2017		May 29, 2016
Inventories:
Raw materials and packaging	$	395.4	$	397.3
Finished goods		1,224.3		1,163.1
Grain		73.0		72.6
Excess of FIFO over LIFO cost (a)		(209.1)		(219.3)
Total	$	1,483.6	$	1,413.7

(a) Inventories of $893.8 million as of May 28, 2017, and $841.0 million as of May 29, 2016, were valued at LIFO.

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 28, 2017		May 29, 2016
Prepaid expenses and other current assets:
Other receivables	$	163.7	$	159.3
Prepaid expenses		168.9		177.9
Derivative receivables, primarily commodity-related		35.0		44.6
Grain contracts		2.7		1.8
Miscellaneous		11.3		15.4
Total	$	381.6	$	399.0

In Millions		May 28, 2017		May 29, 2016
Land, buildings, and equipment:
Land	$	79.8	$	92.9
Buildings		2,249.2		2,236.0
Buildings under capital lease		0.3		0.3
Equipment		6,095.9		5,945.6
Equipment under capital lease		3.0		3.0
Capitalized software		545.4		523.0
Construction in progress		553.0		702.7
Total land, buildings, and equipment		9,526.6		9,503.5
Less accumulated depreciation		(5,838.9)		(5,759.9)
Total	$	3,687.7	$	3,743.6

In Millions		May 28, 2017		May 29, 2016
Other assets:
Investments in and advances to joint ventures	$	505.3	$	518.9
Pension assets		144.9		90.9
Exchangeable note with related party		-		12.7
Life insurance		25.6		26.3
Miscellaneous		110.1		102.9
Total	$	785.9	$	751.7

In Millions		May 28, 2017		May 29, 2016
Other current liabilities:
Accrued trade and consumer promotions	$	482.6	$	563.7
Accrued payroll		326.6		386.4
Dividends payable		21.5		23.8
Accrued taxes		58.0		110.5
Accrued interest, including interest rate swaps		83.8		90.4
Grain contracts		5.6		5.5
Restructuring and other exit costs reserve		85.0		76.6
Derivative payable		18.1		35.6
Miscellaneous		291.0		302.5
Total	$	1,372.2	$	1,595.0

In Millions		May 28, 2017		May 29, 2016
Other noncurrent liabilities:
Accrued compensation and benefits, including obligations for underfunded other postretirement benefit and postemployment benefit plans	$	1,249.7	$	1,755.0
Accrued taxes		162.3		204.0
Miscellaneous		111.1		128.6
Total	$	1,523.1	$	2,087.6

Certain Consolidated Statements of Earnings amounts are as follows:

		Fiscal Year
In Millions		2017		2016		2015
Depreciation and amortization	$	603.6	$	608.1	$	588.3
Research and development expense		218.2		222.1		229.4
Advertising and media expense (including production and communication costs)		623.8		754.4		823.1

The components of interest, net are as follows:

		Fiscal Year
Expense (Income), in Millions		2017		2016		2015
Interest expense	$	306.7	$	319.6	$	335.5
Capitalized interest		(4.6)		(7.7)		(6.9)
Interest income		(7.0)		(8.1)		(13.2)
Interest, net	$	295.1	$	303.8	$	315.4

Certain Consolidated Statements of Cash Flows amounts are as follows:

	Fiscal Year
In Millions		2017		2016		2015
Cash interest payments	$	285.8	$	292.0	$	305.3
Cash paid for income taxes		551.1		533.8		562.6