Supplemental Information (Tables)

12 Months Ended

May 31, 2020

SUPPLEMENTAL INFORMATION [Abstract]

Components of receivables [Table Text Block]

In Millions		May 31, 2020		May 26, 2019
Receivables:
Customers	$	1,648.3	$	1,708.5
Less allowance for doubtful accounts		(33.2)		(28.8)
Total	$	1,615.1	$	1,679.7

Components of inventories [Table Text Block]

In Millions		May 31, 2020		May 26, 2019
Inventories:
Finished goods	$	1,142.6	$	1,245.9
Raw materials and packaging		392.2		434.9
Grain		93.6		92.0
Excess of FIFO over LIFO cost (a)		(202.1)		(213.5)
Total	$	1,426.3	$	1,559.3

(a) Inventories of $892.6 million as of May 31, 2020, and $974.8 million as of May 26, 2019, 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.

Components of prepaid expenses and other current assets [Table Text Block]

In Millions		May 31, 2020		May 26, 2019
Prepaid expenses and other current assets:
Prepaid expenses	$	194.5	$	189.0
Other receivables		85.2		250.2
Derivative receivables		70.6		42.2
Grain contracts		5.0		6.7
Miscellaneous		46.8		9.4
Total	$	402.1	$	497.5

Components of land, buildings and equipment [Table Text Block]

In Millions		May 31, 2020		May 26, 2019
Land, buildings, and equipment:
Equipment	$	6,428.0	$	6,548.3
Buildings		2,412.6		2,477.2
Capitalized software		668.5		631.6
Construction in progress		373.5		343.8
Land		66.1		73.6
Equipment under finance lease		5.8		5.7
Buildings under finance lease		0.3		0.3
Total land, buildings, and equipment		9,954.8		10,080.5
Less accumulated depreciation		(6,374.2)		(6,293.3)
Total	$	3,580.6	$	3,787.2

Components of other assets [Table Text Block]

In Millions		May 31, 2020		May 26, 2019
Other assets:
Investments in and advances to joint ventures	$	566.7	$	452.9
Right of use operating lease assets		365.2		-
Pension assets		21.2		323.5
Life insurance		19.5		22.7
Miscellaneous		113.2		175.8
Total	$	1,085.8	$	974.9

Components of other current liabilities [Table Text Block]

In Millions		May 31, 2020		May 26, 2019
Other current liabilities:
Accrued trade and consumer promotions	$	550.4	$	484.4
Accrued payroll		430.4		345.5
Current portion of operating lease liabilities		102.0		-
Accrued interest, including interest rate swaps		92.8		92.6
Accrued taxes		80.3		37.5
Derivative payable, primarily commodity-related		39.2		13.2
Dividends payable		20.7		19.2
Restructuring and other exit costs reserve		17.8		36.5
Grain contracts		1.2		2.3
Miscellaneous		298.5		336.6
Total	$	1,633.3	$	1,367.8

Components of other noncurrent liabilities [Table Text Block]

In Millions		May 31, 2020		May 26, 2019
Other noncurrent liabilities:
Accrued compensation and benefits, including obligations for underfunded other postretirement benefit and postemployment benefit plans	$	958.7	$	1,153.3
Noncurrent portion of operating lease liabilities		277.0		-
Accrued taxes		238.6		227.1
Miscellaneous		70.7		68.5
Total	$	1,545.0	$	1,448.9

Consolidated statements of earnings amounts [Table Text Block]

		Fiscal Year
In Millions		2020		2019		2018
Depreciation and amortization	$	594.7	$	620.1	$	618.8
Research and development expense		224.4		221.9		219.1
Advertising and media expense (including production and communication costs)		691.8		601.6		575.9

Components of interest, net [Table Text Block]

		Fiscal Year
Expense (Income), in Millions		2020		2019		2018
Interest expense	$	475.1	$	530.2	$	389.5
Capitalized interest		(2.6)		(2.8)		(4.1)
Interest income		(6.0)		(5.6)		(11.7)
Interest, net	$	466.5	$	521.8	$	373.7

Consolidated statements of cash flows supplemental disclosures [Table Text Block]

	Fiscal Year
In Millions		2020		2019		2018
Cash interest payments	$	418.5	$	500.1	$	269.5
Cash paid for income taxes		403.3		440.8		489.4