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BUSINESS SEGMENTS AND RELATED INFORMATION (Tables) | 12 Months Ended
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May 31, 2020
Segment Reporting [Abstract] |
Schedule of Segment Operations | General corporate expense, net interest expense, and income taxes have been excluded from segment operations.
|  | 2020 |  |  | 2019 |  |  | 2018 |
Net sales |  |  |  |  |  |  |  |  |  |  |  |
Grocery & Snacks |  | $ | 4,617.1 |  |  | $ | 3,923.6 |  |  | $ | 3,281.0 |
Refrigerated & Frozen |  |  | 4,559.6 |  |  |  | 3,735.4 |  |  |  | 2,753.0 |
International |  |  | 925.3 |  |  |  | 864.4 |  |  |  | 843.5 |
Foodservice |  |  | 952.4 |  |  |  | 1,015.0 |  |  |  | 1,060.8 |
Total net sales |  | $ | 11,054.4 |  |  | $ | 9,538.4 |  |  | $ | 7,938.3 |
Operating profit |  |  |  |  |  |  |  |  |  |  |  |
Grocery & Snacks |  | $ | 915.2 |  |  | $ | 762.6 |  |  | $ | 722.5 |
Refrigerated & Frozen |  |  | 702.2 |  |  |  | 645.1 |  |  |  | 479.4 |
International |  |  | 100.6 |  |  |  | 99.8 |  |  |  | 86.5 |
Foodservice |  |  | 97.6 |  |  |  | 134.3 |  |  |  | 124.1 |
Total operating profit |  | $ | 1,815.6 |  |  | $ | 1,641.8 |  |  | $ | 1,412.5 |
Equity method investment earnings |  |  | 73.2 |  |  |  | 75.8 |  |  |  | 97.3 |
General corporate expenses |  |  | 368.5 |  |  |  | 462.2 |  |  |  | 459.4 |
Pension and postretirement non-service income |  |  | 9.9 |  |  |  | 35.1 |  |  |  | 80.4 |
Interest expense, net |  |  | 487.1 |  |  |  | 391.4 |  |  |  | 158.7 |
Income tax expense |  |  | 201.3 |  |  |  | 218.8 |  |  |  | 174.6 |
Income from continuing operations |  | $ | 841.8 |  |  | $ | 680.3 |  |  | $ | 797.5 |
Less: Net income attributable to noncontrolling interests of continuing operations |  |  | 1.7 |  |  |  | 0.1 |  |  |  | 3.4 |
Income from continuing operations attributable to Conagra Brands, Inc. |  | $ | 840.1 |  |  | $ | 680.2 |  |  | $ | 794.1 |
The following table presents further disaggregation of our net sales:
|  | 2020 |  |  | 2019 |  |  | 2018 |
Snacks |  | $ | 1,714.3 |  |  | $ | 1,496.9 |  |  | $ | 1,197.7 |
Other shelf-stable |  |  | 2,902.8 |  |  |  | 2,426.7 |  |  |  | 2,083.3 |
Frozen |  |  | 3,674.1 |  |  |  | 2,945.4 |  |  |  | 2,014.8 |
Refrigerated |  |  | 885.5 |  |  |  | 790.0 |  |  |  | 738.2 |
International |  |  | 925.3 |  |  |  | 864.4 |  |  |  | 843.5 |
Foodservice |  |  | 952.4 |  |  |  | 1,015.0 |  |  |  | 1,060.8 |
Total net sales |  | $ | 11,054.4 |  |  | $ | 9,538.4 |  |  | $ | 7,938.3 |
Schedule of Net Derivative Gains (Losses) from Economic Hedges of Forecasted Commodity Consumption and Foreign Currency Risk | The following table presents the net derivative gains (losses) from economic hedges of forecasted commodity consumption and the foreign currency risk of certain forecasted transactions, under this methodology:
|  | 2020 |  |  | 2019 |  |  | 2018 |
Net derivative losses incurred |  | $ | (12.9 | ) |  | $ | (3.6 | ) |  | $ | (0.9 | )
Less: Net derivative losses allocated to reporting segments |  |  | (7.4 | ) |  |  | (1.8 | ) |  |  | (7.1 | )
Net derivative gains (losses) recognized in general corporate expenses |  | $ | (5.5 | ) |  | $ | (1.8 | ) |  | $ | 6.2 |
Net derivative gains (losses) allocated to Grocery & Snacks |  | $ | (4.7 | ) |  | $ | (2.5 | ) |  | $ | 0.2 |
Net derivative losses allocated to Refrigerated & Frozen |  |  | (2.5 | ) |  |  | (1.5 | ) |  |  | (0.3 | )
Net derivative gains (losses) allocated to International |  |  | 0.1 |  |  |  | 2.8 |  |  |  | (6.9 | )
Net derivative losses allocated to Foodservice |  |  | (0.3 | ) |  |  | (0.6 | ) |  |  | (0.1 | )
Net derivative losses included in segment operating profit |  | $ | (7.4 | ) |  | $ | (1.8 | ) |  | $ | (7.1 | )

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