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Stockholders' Equity (Tables)
6 Months Ended
Nov. 29, 2020
Stockholders' Equity [Abstract]  
Schedule of total comprehensive income [Table Text Block]

 

 

Quarter Ended

 

Quarter Ended

 

 

Nov. 29, 2020

 

Nov. 24, 2019

 

 

General Mills

 

Noncontrolling

Interests

 

Redeemable

Interest

 

General Mills

 

Noncontrolling

Interests

 

Redeemable

Interest

In Millions

 

Pretax

 

Tax

 

Net

 

Net

 

Net

 

Pretax

 

Tax

 

Net

 

Net

 

Net

Net earnings, including earnings

attributable to redeemable and

noncontrolling interests

 

 

 

 

$

688.4

$

2.7

$

4.8

 

 

 

 

$

580.8

$

4.9

$

5.7

Other comprehensive income (loss):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Foreign currency translation

$

14.5

$

3.8

 

18.3

 

2.0

 

3.4

$

1.7

$

-

 

1.7

 

(3.3)

 

(1.2)

Other fair value changes:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Hedge derivatives

 

1.9

 

(0.2)

 

1.7

 

-

 

0.2

 

(11.6)

 

0.9

 

(10.7)

 

-

 

(2.1)

Reclassification to earnings:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Hedge derivatives (a)

 

2.0

 

(0.7)

 

1.3

 

-

 

(0.3)

 

0.4

 

(0.2)

 

0.2

 

-

 

-

Amortization of losses and

prior service costs (b)

 

25.8

 

(6.0)

 

19.8

 

-

 

-

 

25.5

 

(5.9)

 

19.6

 

-

 

-

Other comprehensive income (loss):

$

44.2

$

(3.1)

 

41.1

 

2.0

 

3.3

$

16.0

$

(5.2)

 

10.8

 

(3.3)

 

(3.3)

Total comprehensive income

 

 

 

 

$

729.5

$

4.7

$

8.1

 

 

 

 

$

591.6

$

1.6

$

2.4

(a)Loss (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 benefit plan non-service income.

 

 

Six-Month Period Ended

 

Six-Month Period Ended

 

 

Nov. 29, 2020

 

Nov. 24, 2019

 

 

General Mills

 

Noncontrolling

Interests

 

Redeemable

Interest

 

General Mills

 

Noncontrolling

Interests

 

Redeemable

Interest

In Millions

 

Pretax

 

Tax

 

Net

 

Net

 

Net

 

Pretax

 

Tax

 

Net

 

Net

 

Net

Net earnings, including earnings

attributable to redeemable and

noncontrolling interests

 

 

 

 

$

1,327.3

$

2.8

$

12.2

 

 

 

 

$

1,101.4

$

8.5

$

10.0

Other comprehensive income (loss):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Foreign currency translation

$

(33.6)

$

51.6

 

18.0

 

25.3

 

46.6

$

4.4

$

-

 

4.4

 

(4.8)

 

(6.1)

Other fair value changes:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Hedge derivatives

 

(13.6)

 

3.5

 

(10.1)

 

-

 

(0.1)

 

(9.2)

 

1.6

 

(7.6)

 

-

 

(1.4)

Reclassification to earnings:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Hedge derivatives (a)

 

(0.1)

 

(0.3)

 

(0.4)

 

-

 

(0.3)

 

(0.2)

 

(0.2)

 

(0.4)

 

-

 

-

Amortization of losses and prior

service costs (b)

 

51.1

 

(11.8)

 

39.3

 

-

 

-

 

51.0

 

(11.8)

 

39.2

 

-

 

-

Other comprehensive income (loss)

$

3.8

$

43.0

 

46.8

 

25.3

 

46.2

$

46.0

$

(10.4)

 

35.6

 

(4.8)

 

(7.5)

Total comprehensive income

 

 

 

 

$

1,374.1

$

28.1

$

58.4

 

 

 

 

$

1,137.0

$

3.7

$

2.5

(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 benefit plan non-service income.

Schedule of accumulated other comprehensive income, net of tax effects [Table Text Block]

In Millions

 

 

Nov. 29, 2020

 

 

May 31, 2020

Foreign currency translation adjustments

 

$

(871.0)

 

$

(889.0)

Unrealized loss from:

 

 

 

 

 

 

Hedge derivatives

 

 

(23.1)

 

 

(12.6)

Pension, other postretirement, and postemployment benefits:

 

 

 

 

 

 

Net actuarial loss

 

 

(1,982.0)

 

 

(2,022.5)

Prior service credits

 

 

8.5

 

 

9.7

Accumulated other comprehensive loss

 

$

(2,867.6)

 

$

(2,914.4)