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BASIS OF PRESENTATION AND RECLASSIFICATIONS
12 Months Ended
May 31, 2020
BASIS OF PRESENTATION AND RECLASSIFICATIONS [Abstract]  
BASIS OF PRESENTATION AND RECLASSIFICATIONS

NOTE 1. BASIS OF PRESENTATION AND RECLASSIFICATIONS

 

Basis of Presentation

Our Consolidated Financial Statements include the accounts of General Mills, Inc. and all subsidiaries in which we have a controlling financial interest. Intercompany transactions and accounts, including any noncontrolling and redeemable interests’ share of those transactions, are eliminated in consolidation.

 

Our fiscal year ends on the last Sunday in May. Fiscal year 2020 consisted of 53 weeks, while fiscal years 2019 and 2018 consisted of 52 weeks.

 

Certain reclassifications to our previously reported financial information have been made to conform to the current period presentation. See Note 2 for additional information.

 

Change in Reporting Period

As part of a long-term plan to conform the fiscal year ends of all our operations, in fiscal 2020 we changed the reporting period of our Pet segment from an April fiscal year-end to a May fiscal year-end to match our fiscal calendar. Accordingly, our fiscal 2020 results include 13 months of Pet segment results compared to 12 months in fiscal 2019. The impact of this change was not material to our consolidated results of operations and, therefore, we did not restate prior period financial statements for comparability. Our India business is on an April fiscal year end.