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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
May 25, 2025
May 26, 2024
May 28, 2023
Cash flows - operating activities      
Net earnings $ 1,049.6 $ 1,027.6 $ 981.9
Losses from discontinued operations, net of tax 1.4 2.9 1.6
Adjustments to reconcile net earnings from continuing operations to cash flows:      
Depreciation and amortization 516.1 459.9 387.8
Impairments and disposal of assets, net 49.2 12.4 (10.6)
Stock-based compensation expense 79.1 68.5 67.5
Change in current assets and liabilities 11.5 95.4 175.7
Contributions to pension and postretirement plans (1.6) (1.7) (2.1)
Deferred income taxes 5.0 (3.2) (59.5)
Change in other assets and liabilities 0.0 (23.4) 9.0
Other, net (3.3) (16.7) 1.5
Net cash provided by operating activities of continuing operations 1,707.0 1,621.7 1,552.8
Cash flows - investing activities      
Purchases of land, buildings and equipment (644.6) (601.2) (564.9)
Proceeds from disposal of land, buildings and equipment 2.5 3.3 25.4
Cash used in business acquisitions, net of cash acquired (613.7) (701.1) 0.0
Purchases of capitalized software and other assets (27.3) (27.1) (29.4)
Other, net 4.8 1.5 0.5
Net cash used in investing activities of continuing operations (1,278.3) (1,324.6) (568.4)
Cash flows - financing activities      
Net proceeds from issuance of common stock 55.6 43.6 35.4
Dividends paid (658.5) (628.4) (589.8)
Repurchases of common stock (418.2) (453.9) (458.7)
(Repayment of) proceeds from commercial paper, net (86.8) 86.8 0.0
Proceeds from the issuance of long-term debt 750.0 1,100.0 0.0
Repayments of long-term debt 0.0 (600.0) 0.0
Principal payments on finance leases, net (21.0) (19.9) (19.8)
Payment of debt issuance costs (6.9) (11.6) (0.2)
Net cash used in financing activities of continuing operations (385.8) (483.4) (1,033.1)
Cash flows - discontinued operations      
Net cash used in operating activities of discontinued operations (8.5) (9.8) (7.2)
Net cash used in discontinued operations (8.5) (9.8) (7.2)
Increase (Decrease) in cash, cash equivalents, and restricted cash 34.4 (196.1) (55.9)
Cash, cash equivalents, and restricted cash - beginning of year 220.1 416.2 472.1
Cash, cash equivalents and restricted cash - end of year 254.5 220.1 416.2
Reconciliation of cash, cash equivalents, and restricted cash:      
Cash and cash equivalents 240.0 194.8 367.8
Restricted cash included in prepaid and other current assets 14.5 25.3 48.4
Total cash, cash equivalents, and restricted cash shown in the statement of cash flows 254.5 220.1 416.2
Cash flows from changes in current assets and liabilities      
Receivables, net (13.2) 9.3 (8.2)
Inventories (20.5) 5.6 (17.3)
Prepaid expenses and other current assets (6.7) (1.4) (24.5)
Accounts payable 26.6 (11.3) 40.9
Accrued payroll 13.3 7.7 (8.4)
Prepaid/accrued income taxes (15.2) 5.1 143.3
Other accrued taxes 8.0 4.6 1.3
Unearned revenues 5.0 12.9 14.0
Other current liabilities 14.2 62.9 34.6
Change in current assets and liabilities $ 11.5 $ 95.4 $ 175.7