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Supplemental Information (Tables)
 12 Months Ended
May 28, 2023
Supplemental Information [Abstract]  
Components Of Receivables
In Millions
May 28, 2023
May 29, 2022
Receivables:
Customers
$
1,710.1
$
1,720.4
Less allowance for doubtful accounts
(26.9)
(28.3)
Total
$
1,683.2
$
1,692.1
Components Of Inventories
In Millions
May 28, 2023
May 29, 2022
Inventories:
Finished goods
$
2,066.9
$
1,634.7
Raw materials and packaging
572.2
532.0
Grain
133.8
164.0
Excess of FIFO over LIFO cost (a)
(600.9)
(463.4)
Total
$
2,172.0
$
1,867.3
(a)
 
Inventories
 
of
 
$
1,477.5
 
million
 
as
 
of
 
May
 
28,
 
2023,
 
and
 
$
1,127.1
 
million
 
as
 
of
 
May
 
29,
 
2022,
 
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
In Millions
May 28, 2023
May 29, 2022
Prepaid expenses and other current assets:
Marketable investments
$
117.2
$
249.8
Other receivables
285.7
182.8
Prepaid expenses
244.4
213.5
Derivative receivables
45.1
86.1
Grain contracts
2.3
28.7
Miscellaneous
41.0
41.2
Total
$
735.7
$
802.1
Components Of Assets Held For Sale
In Millions
May 28, 2023
May 29, 2022
Assets held for sale:
Goodwill
$
-
$
130.0
Inventories
-
22.9
Equipment
-
6.0
Total
$
-
$
158.9
Components Of Land, Buildings And Equipment
In Millions
May 28, 2023
May 29, 2022
Land, buildings, and equipment:
Equipment
$
6,672.2
$
6,491.7
Buildings
2,569.3
2,444.8
Construction in progress
746.7
492.8
Capitalized software
514.8
717.8
Land
56.5
55.1
Equipment under finance lease
9.8
7.8
Buildings under finance lease
0.3
0.3
Total land, buildings,
 
and equipment
10,569.6
10,210.3
Less accumulated depreciation
(6,933.4)
(6,816.5)
Total
$
3,636.2
$
3,393.8
Components Of Other Assets
In Millions
May 28, 2023
May 29, 2022
Other assets:
Investments in and advances to joint ventures
$
462.0
$
513.8
Right of use operating lease assets
340.0
336.8
Pension assets
51.8
52.6
Life insurance
15.8
17.5
Miscellaneous
290.7
307.4
Total
$
1,160.3
$
1,228.1
Components Of Other Current Liabilities
In Millions
May 28, 2023
May 29, 2022
Other current liabilities:
Accrued trade and consumer promotions
$
454.3
$
474.4
Accrued payroll
426.6
435.6
Current portion of operating lease liabilities
101.9
106.7
Accrued interest, including interest rate swaps
83.1
70.1
Accrued taxes
80.9
31.4
Restructuring and other exit costs reserve
47.7
36.8
Derivative payable, primarily commodity-related
34.0
19.9
Dividends payable
23.1
25.3
Grain contracts
11.8
3.0
Miscellaneous
337.3
348.8
Total
$
1,600.7
$
1,552.0
Components Of Other Noncurrent Liabilities
In Millions
May 28, 2023
May 29, 2022
Other non-current liabilities:
Accrued compensation and benefits, including obligations for underfunded
 
other
 
postretirement benefit and postemployment benefit plans
$
509.6
$
360.8
Non-current portion of operating lease liabilities
257.0
248.3
Accrued taxes
245.1
233.0
Miscellaneous
128.3
87.0
Total
$
1,140.0
$
929.1
Consolidated Statements Of Earnings Amounts
Fiscal Year
In Millions
2023
2022
2021
Depreciation and amortization
$
546.6
$
570.3
$
601.3
Research and development expense
257.6
243.1
239.3
Advertising and media expense (including production and
 
communication costs)
810.0
690.1
736.3
Components Of Interest, Net
Fiscal Year
Expense (Income), in Millions
2023
2022
2021
Interest expense
$
400.5
$
387.2
$
430.9
Capitalized interest
(4.4)
(3.8)
(3.2)
Interest income
(14.0)
(3.8)
(7.4)
Interest, net
$
382.1
$
379.6
$
420.3
Consolidated Statements Of Cash Flows Supplemental Disclosures
Fiscal Year
In Millions
2023
2022
2021
Cash interest payments
$
337.1
$
357.8
$
412.5
Cash paid for income taxes
682.6
545.3
636.1