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Supplemental Information (Tables)

12 Months Ended

May 30, 2021

Supplemental Information [Abstract]

Components of receivables [Table Text Block]

In Millions		May 30, 2021			May 31, 2020
Receivables:
Customers	$	1,674.5		$	1,648.3
Less allowance for doubtful accounts		(36.0)			(33.2)
Total	$	1,638.5		$	1,615.1

Components of inventories [Table Text Block]

In Millions		May 30, 2021			May 31, 2020
Inventories:
Finished goods	$	1,506.9		$	1,142.6
Raw materials and packaging		411.9			392.2
Grain		111.2			93.6
Excess of FIFO over LIFO cost (a)		(209.5)			(202.1)
Total	$	1,820.5		$	1,426.3

(a)Inventories of $1,139.7 million as of May 30, 2021, and $892.6 million as of May 31, 2020, 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 [Table Text Block]

In Millions		May 30, 2021			May 31, 2020
Prepaid expenses and other current assets:
Marketable investments	$	360.0		$	-
Prepaid expenses		221.7			194.5
Other receivables		139.1			85.2
Derivative receivables		37.5			70.6
Grain contracts		12.0			5.0
Miscellaneous		20.0			46.8
Total	$	790.3		$	402.1

Components of land, buildings and equipment [Table Text Block]

In Millions		May 30, 2021			May 31, 2020
Land, buildings, and equipment:
Equipment	$	6,732.7		$	6,428.0
Buildings		2,542.7			2,412.6
Capitalized software		718.5			668.5
Construction in progress		395.7			373.5
Land		67.4			66.1
Equipment under finance lease		7.8			5.8
Buildings under finance lease		0.3			0.3
Total land, buildings, and equipment		10,465.1			9,954.8
Less accumulated depreciation		(6,858.3)			(6,374.2)
Total	$	3,606.8		$	3,580.6

Components of other assets [Table Text Block]

In Millions		May 30, 2021			May 31, 2020
Other assets:
Investments in and advances to joint ventures	$	566.4		$	566.7
Right of use operating lease assets		378.6			365.2
Pension assets		30.0			21.2
Life insurance		18.6			19.5
Miscellaneous		274.0			113.2
Total	$	1,267.6		$	1,085.8

Components of other current liabilities [Table Text Block]

In Millions		May 30, 2021			May 31, 2020
Other current liabilities:
Accrued trade and consumer promotions	$	580.9		$	550.4
Accrued payroll		434.4			430.4
Restructuring and other exit costs reserve		148.8			17.8
Current portion of operating lease liabilities		111.2			102.0
Accrued interest, including interest rate swaps		80.0			92.8
Derivative payable, primarily commodity-related		39.2			39.2
Accrued taxes		37.4			80.3
Dividends payable		24.1			20.7
Grain contracts		0.9			1.2
Miscellaneous		330.3			298.5
Total	$	1,787.2		$	1,633.3

Components of other noncurrent liabilities [Table Text Block]

In Millions		May 30, 2021			May 31, 2020
Other noncurrent liabilities:
Accrued compensation and benefits, including obligations for underfunded other postretirement benefit and postemployment benefit plans	$	707.7		$	958.7
Noncurrent portion of operating lease liabilities		283.2			277.0
Accrued taxes		215.6			238.6
Miscellaneous		86.2			70.7
Total	$	1,292.7		$	1,545.0

Consolidated statements of earnings amounts [Table Text Block]

		Fiscal Year
In Millions		2021			2020			2019
Depreciation and amortization	$	601.3		$	594.7		$	620.1
Research and development expense		239.3			224.4			221.9
Advertising and media expense (including production and communication costs)		736.3			691.8			601.6

Components of interest, net [Table Text Block]

		Fiscal Year
Expense (Income), in Millions		2021			2020			2019
Interest expense	$	430.9		$	475.1		$	530.2
Capitalized interest		(3.2)			(2.6)			(2.8)
Interest income		(7.4)			(6.0)			(5.6)
Interest, net	$	420.3		$	466.5		$	521.8

Consolidated statements of cash flows supplemental disclosures [Table Text Block]

	Fiscal Year
In Millions		2021			2020			2019
Cash interest payments	$	412.5		$	418.5		$	500.1
Cash paid for income taxes		636.1			403.3			440.8

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