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Goodwill and Other Intangible Assets (Tables)

12 Months Ended

May 30, 2021

Goodwill and Other Intangible Assets [Abstract]

Components of goodwill and other intangible assets [Table Text Block]

In Millions		May 30, 2021		May 31, 2020
Goodwill	$	14,062.4	$	13,923.2
Other intangible assets:
Intangible assets not subject to amortization:
Brands and other indefinite-lived intangibles		6,628.1		6,561.4
Intangible assets subject to amortization:
Franchise agreements, customer relationships, and other finite-lived intangibles		823.4		777.8
Less accumulated amortization		(300.9)		(243.4)
Intangible assets subject to amortization		522.5		534.4
Other intangible assets		7,150.6		7,095.8
Total	$	21,213.0	$	21,019.0

Changes in the carrying amount of goodwill [Table Text Block]

In Millions	North America Retail		Pet			Convenience Stores & Foodservice			Europe & Australia			Asia & Latin America			Joint Ventures			Total
Balance as of May 27, 2018	$	6,410.6	$	5,294.9		$	918.8		$	729.9		$	285.0		$	425.8		$	14,065.0
Divestitures		-		-			-			-			(0.5)			-			(0.5)
Purchase accounting adjustment		-		5.6			-			-			-			-			5.6
Other activity, primarily foreign currency translation		(4.1)		-			-			(29.5)			(24.3)			(16.4)			(74.3)
Balance as of May 26, 2019		6,406.5		5,300.5			918.8			700.4			260.2			409.4			13,995.8
Other activity, primarily foreign currency translation		(2.8)		-			-			(9.7)			(56.4)			(3.7)			(72.6)
Balance as of May 31, 2020		6,403.7		5,300.5			918.8			690.7			203.8			405.7			13,923.2
Divestiture		-		-			-			-			(1.2)			-			(1.2)
Other activity, primarily foreign currency translation		15.6		-			-			74.8			10.1			39.9			140.4
Balance as of May 30, 2021	$	6,419.3	$	5,300.5		$	918.8		$	765.5		$	212.7		$	445.6		$	14,062.4

Changes in the carrying amount of other intangible assets [Table Text Block]

In Millions		Total
Balance as of May 27, 2018	$	7,445.1
Impairment charge		(192.6)
Other activity, primarily amortization and foreign currency translation		(85.7)
Balance as of May 26, 2019		7,166.8
Other activity, primarily amortization and foreign currency translation		(71.0)
Balance as of May 31, 2020		7,095.8
Divestiture		(5.3)
Other activity, primarily amortization and foreign currency translation		60.1
Balance as of May 30, 2021	$	7,150.6

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Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

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-Name Accounting Standards Codification
-Topic 350
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Tabular disclosure of assets, excluding financial assets and goodwill, lacking physical substance and exist in perpetuity, by either major class or business segment.

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Tabular disclosure of goodwill and intangible assets, which may be broken down by segment or major class.

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