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RESTRUCTURING ACTIVITIES (Tables) | 9 Months Ended
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Feb. 23, 2020
Pinnacle Integration Restructuring Plan |
Schedule of Pre-Tax Expenses in Association with the Restructuring Plan | We anticipate that we will recognize the following pre-tax expenses in association with the Pinnacle Integration Restructuring Plan (amounts include charges recognized from plan inception through the third quarter of fiscal 2020):
|  | Grocery & Snacks |  |  | Refrigerated & Frozen |  |  | International |  |  | Corporate |  |  | Total |
Accelerated depreciation |  | $ | 0.7 |  |  | $ | 5.5 |  |  | $ | — |  |  | $ | — |  |  | $ | 6.2 |
Other cost of goods sold |  |  | 17.9 |  |  |  | 9.3 |  |  |  | 0.7 |  |  |  | — |  |  |  | 27.9 |
Total cost of goods sold |  |  | 18.6 |  |  |  | 14.8 |  |  |  | 0.7 |  |  |  | — |  |  |  | 34.1 |
Severance and related costs |  |  | — |  |  |  | 4.3 |  |  |  | 1.5 |  |  |  | 114.8 |  |  |  | 120.6 |
Asset impairment (net of gains on disposal) |  |  | 54.6 |  |  |  | 8.3 |  |  |  | — |  |  |  | 2.9 |  |  |  | 65.8 |
Accelerated depreciation |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 7.4 |  |  |  | 7.4 |
Contract/lease termination |  |  | 1.4 |  |  |  | 0.2 |  |  |  | 0.8 |  |  |  | 17.6 |  |  |  | 20.0 |
Consulting/professional fees |  |  | — |  |  |  | — |  |  |  | 0.8 |  |  |  | 82.3 |  |  |  | 83.1 |
Other selling, general and administrative expenses |  |  | 1.0 |  |  |  | 1.0 |  |  |  | 0.1 |  |  |  | 30.7 |  |  |  | 32.8 |
Total selling, general and administrative expenses |  |  | 57.0 |  |  |  | 13.8 |  |  |  | 3.2 |  |  |  | 255.7 |  |  |  | 329.7 |
Consolidated total |  | $ | 75.6 |  |  | $ | 28.6 |  |  | $ | 3.9 |  |  | $ | 255.7 |  |  | $ | 363.8 |
During the third quarter of fiscal 2020, we recognized the following pre-tax expenses for the Pinnacle Integration Restructuring Plan:
|  | Grocery & Snacks |  |  | Refrigerated & Frozen |  |  | Corporate |  |  | Total |
Accelerated depreciation |  | $ | 0.5 |  |  | $ | 0.9 |  |  | $ | — |  |  | $ | 1.4 |
Total cost of goods sold |  |  | 0.5 |  |  |  | 0.9 |  |  |  | — |  |  |  | 1.4 |
Severance and related costs |  |  | — |  |  |  | 4.3 |  |  |  | (0.4 | ) |  |  | 3.9 |
Asset impairment (net of gains on disposal) |  |  | — |  |  |  | 3.8 |  |  |  | — |  |  |  | 3.8 |
Accelerated depreciation |  |  | — |  |  |  | — |  |  |  | 0.3 |  |  |  | 0.3 |
Contract/lease termination |  |  | — |  |  |  | — |  |  |  | 2.9 |  |  |  | 2.9 |
Consulting/professional fees |  |  | — |  |  |  | — |  |  |  | 6.3 |  |  |  | 6.3 |
Other selling, general and administrative expenses |  |  | — |  |  |  | — |  |  |  | 1.0 |  |  |  | 1.0 |
Total selling, general and administrative expenses |  |  | — |  |  |  | 8.1 |  |  |  | 10.1 |  |  |  | 18.2 |
Consolidated total |  | $ | 0.5 |  |  | $ | 9.0 |  |  | $ | 10.1 |  |  | $ | 19.6 |
Included in the above results are $12.7 million of charges that have resulted or will result in cash outflows and $6.9 million in non-cash charges. During the first three quarters of fiscal 2020, we recognized the following pre-tax expenses for the Pinnacle Integration Restructuring Plan:
|  | Grocery & Snacks |  |  | Refrigerated & Frozen |  |  | International |  |  | Corporate |  |  | Total |
Accelerated depreciation |  | $ | 0.5 |  |  | $ | 1.4 |  |  | $ | — |  |  | $ | — |  |  | $ | 1.9 |
Other cost of goods sold |  |  | 0.1 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 0.1 |
Total cost of goods sold |  |  | 0.6 |  |  |  | 1.4 |  |  |  | — |  |  |  | — |  |  |  | 2.0 |
Severance and related costs |  |  | — |  |  |  | 4.3 |  |  |  | 0.2 |  |  |  | 4.0 |  |  |  | 8.5 |
Asset impairment (net of gains on disposal) |  |  | 0.2 |  |  |  | 3.8 |  |  |  | — |  |  |  | 2.9 |  |  |  | 6.9 |
Accelerated depreciation |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 2.7 |  |  |  | 2.7 |
Contract/lease termination |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 14.7 |  |  |  | 14.7 |
Consulting/professional fees |  |  | — |  |  |  | — |  |  |  | 0.6 |  |  |  | 21.6 |  |  |  | 22.2 |
Other selling, general and administrative expenses |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 6.5 |  |  |  | 6.5 |
Total selling, general and administrative expenses |  |  | 0.2 |  |  |  | 8.1 |  |  |  | 0.8 |  |  |  | 52.4 |  |  |  | 61.5 |
Consolidated total |  | $ | 0.8 |  |  | $ | 9.5 |  |  | $ | 0.8 |  |  | $ | 52.4 |  |  | $ | 63.5 |
Included in the above results are $41.8 million of charges that have resulted or will result in cash outflows and $21.7 million in non-cash charges. We recognized the following cumulative (plan inception to February 23, 2020) pre-tax expenses for the Pinnacle Integration Restructuring Plan related to our continuing operations in our Condensed Consolidated Statement of Operations:
|  | Grocery & Snacks |  |  | Refrigerated & Frozen |  |  | International |  |  | Corporate |  |  | Total |
Accelerated depreciation |  | $ | 0.5 |  |  | $ | 1.4 |  |  | $ | — |  |  | $ | — |  |  | $ | 1.9 |
Other cost of goods sold |  |  | 1.6 |  |  |  | 1.5 |  |  |  | 0.7 |  |  |  | — |  |  |  | 3.8 |
Total cost of goods sold |  |  | 2.1 |  |  |  | 2.9 |  |  |  | 0.7 |  |  |  | — |  |  |  | 5.7 |
Severance and related costs |  |  | — |  |  |  | 4.3 |  |  |  | 1.5 |  |  |  | 114.8 |  |  |  | 120.6 |
Asset impairment (net of gains on disposal) |  |  | 0.2 |  |  |  | 3.8 |  |  |  | — |  |  |  | 2.9 |  |  |  | 6.9 |
Accelerated depreciation |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 7.4 |  |  |  | 7.4 |
Contract/lease termination |  |  | — |  |  |  | — |  |  |  | 0.8 |  |  |  | 15.0 |  |  |  | 15.8 |
Consulting/professional fees |  |  | — |  |  |  | — |  |  |  | 0.8 |  |  |  | 59.7 |  |  |  | 60.5 |
Other selling, general and administrative expenses |  |  | — |  |  |  | — |  |  |  | 0.1 |  |  |  | 14.7 |  |  |  | 14.8 |
Total selling, general and administrative expenses |  |  | 0.2 |  |  |  | 8.1 |  |  |  | 3.2 |  |  |  | 214.5 |  |  |  | 226.0 |
Consolidated total |  | $ | 2.3 |  |  | $ | 11.0 |  |  | $ | 3.9 |  |  | $ | 214.5 |  |  | $ | 231.7 |
Schedule of Liabilities Recorded for the Restructuring Plan | Liabilities recorded for the Pinnacle Integration Restructuring Plan and changes therein for the first three quarters of fiscal 2020 were as follows:
|  | Balance at May 26, 2019 |  |  | Costs Incurred and Charged to Expense |  |  | Costs Paid or Otherwise Settled |  |  | Changes in Estimates |  |  | Balance at February 23, 2020 |
Severance and related costs |  | $ | 76.9 |  |  | $ | 10.4 |  |  | $ | (52.6 | ) |  | $ | (1.9 | ) |  | $ | 32.8 |
Contract termination |  |  | 1.0 |  |  |  | 4.6 |  |  |  | (3.9 | ) |  |  | — |  |  |  | 1.7 |
Consulting/professional fees |  |  | 18.4 |  |  |  | 22.2 |  |  |  | (34.6 | ) |  |  | — |  |  |  | 6.0 |
Other costs |  |  | 1.2 |  |  |  | 6.5 |  |  |  | (7.7 | ) |  |  | — |  |  |  | — |
Total |  | $ | 97.5 |  |  | $ | 43.7 |  |  | $ | (98.8 | ) |  | $ | (1.9 | ) |  | $ | 40.5 |
Conagra Restructuring Plan |
Schedule of Pre-Tax Expenses in Association with the Restructuring Plan | We anticipate that we will recognize the following pre-tax expenses in association with the Conagra Restructuring Plan (amounts include charges recognized from plan inception through the third quarter of fiscal 2020):
|  | Grocery & Snacks |  |  | Refrigerated & Frozen |  |  | International |  |  | Corporate |  |  | Total |
Accelerated depreciation |  | $ | 40.2 |  |  | $ | 20.1 |  |  | $ | — |  |  | $ | — |  |  | $ | 60.3 |
Other cost of goods sold |  |  | 9.0 |  |  |  | 1.0 |  |  |  | — |  |  |  | — |  |  |  | 10.0 |
Total cost of goods sold |  |  | 49.2 |  |  |  | 21.1 |  |  |  | — |  |  |  | — |  |  |  | 70.3 |
Severance and related costs |  |  | 11.1 |  |  |  | 3.5 |  |  |  | 1.2 |  |  |  | 0.2 |  |  |  | 16.0 |
Asset impairment (net of gains on disposal) |  |  | 25.0 |  |  |  | 0.2 |  |  |  | 0.1 |  |  |  | — |  |  |  | 25.3 |
Contract/lease termination |  |  | 0.2 |  |  |  | — |  |  |  | — |  |  |  | 0.1 |  |  |  | 0.3 |
Other selling, general and administrative expenses |  |  | 12.0 |  |  |  | 1.9 |  |  |  | 0.3 |  |  |  | — |  |  |  | 14.2 |
Total selling, general and administrative expenses |  |  | 48.3 |  |  |  | 5.6 |  |  |  | 1.6 |  |  |  | 0.3 |  |  |  | 55.8 |
Total |  | $ | 97.5 |  |  | $ | 26.7 |  |  | $ | 1.6 |  |  | $ | 0.3 |  |  | $ | 126.1 |
Pension and postretirement non-service income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 0.6 |
Consolidated total |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 126.7 |
During the third quarter of fiscal 2020, we recognized the following pre-tax expenses for the Conagra Restructuring Plan:
|  | Grocery & Snacks |  |  | Refrigerated & Frozen |  |  | Total |
Accelerated depreciation |  | $ | 8.3 |  |  | $ | — |  |  | $ | 8.3 |
Other cost of goods sold |  |  | 1.2 |  |  |  | — |  |  |  | 1.2 |
Total cost of goods sold |  |  | 9.5 |  |  |  | — |  |  |  | 9.5 |
Severance and related costs |  |  | 0.3 |  |  |  | 1.2 |  |  |  | 1.5 |
Asset impairment (net of gains on disposal) |  |  | 0.5 |  |  |  | 0.2 |  |  |  | 0.7 |
Other selling, general and administrative expenses |  |  | 0.1 |  |  |  | 0.1 |  |  |  | 0.2 |
Total selling, general and administrative expenses |  |  | 0.9 |  |  |  | 1.5 |  |  |  | 2.4 |
Total |  | $ | 10.4 |  |  | $ | 1.5 |  |  | $ | 11.9 |
Included in the above results are $2.8 million in charges that have resulted or will result in cash outflows and $9.1 million in non-cash charges. During the first three quarters of fiscal 2020, we recognized the following pre-tax expenses for the Conagra Restructuring Plan:
|  | Grocery & Snacks |  |  | Refrigerated & Frozen |  |  | International |  |  | Corporate |  |  | Total |
Accelerated depreciation |  | $ | 18.7 |  |  | $ | 0.9 |  |  | $ | — |  |  | $ | — |  |  | $ | 19.6 |
Other cost of goods sold |  |  | 1.2 |  |  |  | 0.2 |  |  |  | — |  |  |  | — |  |  |  | 1.4 |
Total cost of goods sold |  |  | 19.9 |  |  |  | 1.1 |  |  |  | — |  |  |  | — |  |  |  | 21.0 |
Severance and related costs |  |  | 3.3 |  |  |  | 1.3 |  |  |  | 0.5 |  |  |  | — |  |  |  | 5.1 |
Asset impairment (net of gains on disposal) |  |  | 25.0 |  |  |  | 0.2 |  |  |  | 0.1 |  |  |  | — |  |  |  | 25.3 |
Contract/lease termination |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 0.1 |  |  |  | 0.1 |
Other selling, general and administrative expenses |  |  | 0.3 |  |  |  | 0.2 |  |  |  | — |  |  |  | — |  |  |  | 0.5 |
Total selling, general and administrative expenses |  |  | 28.6 |  |  |  | 1.7 |  |  |  | 0.6 |  |  |  | 0.1 |  |  |  | 31.0 |
Total |  | $ | 48.5 |  |  | $ | 2.8 |  |  | $ | 0.6 |  |  | $ | 0.1 |  |  | $ | 52.0 |
Pension and postretirement non-service income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 0.6 |
Consolidated total |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 52.6 |
Included in the above results are $7.5 million of charges that have resulted or will result in cash outflows and $45.1 million in non-cash charges. We recognized the following cumulative (plan inception to February 23, 2020) pre-tax expenses for the Conagra Restructuring Plan related to our continuing operations in our Condensed Consolidated Statement of Operations:
|  | Grocery & Snacks |  |  | Refrigerated & Frozen |  |  | International |  |  | Corporate |  |  | Total |
Accelerated depreciation |  | $ | 18.7 |  |  | $ | 1.7 |  |  | $ | — |  |  | $ | — |  |  | $ | 20.4 |
Other cost of goods sold |  |  | 1.2 |  |  |  | 0.2 |  |  |  | — |  |  |  | — |  |  |  | 1.4 |
Total cost of goods sold |  |  | 19.9 |  |  |  | 1.9 |  |  |  | — |  |  |  | — |  |  |  | 21.8 |
Severance and related costs |  |  | 3.3 |  |  |  | 1.8 |  |  |  | 1.2 |  |  |  | 0.2 |  |  |  | 6.5 |
Asset impairment (net of gains on disposal) |  |  | 25.0 |  |  |  | 0.2 |  |  |  | 0.1 |  |  |  | — |  |  |  | 25.3 |
Contract/lease termination |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 0.1 |  |  |  | 0.1 |
Other selling, general and administrative expenses |  |  | 0.3 |  |  |  | 0.2 |  |  |  | — |  |  |  | — |  |  |  | 0.5 |
Total selling, general and administrative expenses |  |  | 28.6 |  |  |  | 2.2 |  |  |  | 1.3 |  |  |  | 0.3 |  |  |  | 32.4 |
Total |  | $ | 48.5 |  |  | $ | 4.1 |  |  | $ | 1.3 |  |  | $ | 0.3 |  |  | $ | 54.2 |
Pension and postretirement non-service income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 0.6 |
Consolidated total |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 54.8 |
Schedule of Liabilities Recorded for the Restructuring Plan | Liabilities recorded for the Conagra Restructuring Plan and changes therein for the first three quarters of fiscal 2020 were as follows:
|  | Balance at May 26, 2019 |  |  | Costs Incurred and Charged to Expense |  |  | Costs Paid or Otherwise Settled |  |  | Changes in Estimates |  |  | Balance at February 23, 2020 |
Severance and related costs |  | $ | 1.2 |  |  | $ | 5.6 |  |  | $ | (1.5 | ) |  | $ | (0.5 | ) |  | $ | 4.8 |
Contract termination |  |  | — |  |  |  | 0.1 |  |  |  | (0.1 | ) |  |  | — |  |  |  | — |
Other costs |  |  | — |  |  |  | 1.7 |  |  |  | (1.7 | ) |  |  | — |  |  |  | — |
Total |  | $ | 1.2 |  |  | $ | 7.4 |  |  | $ | (3.3 | ) |  | $ | (0.5 | ) |  | $ | 4.8 |

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- Definition Tabular disclosure of costs incurred for restructuring including, but not limited to, exit and disposal activities, remediation, implementation, integration, asset impairment, and charges against earnings from the write-down of assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB TOPIC 5.P.3) -URI http://asc.fasb.org/extlink&oid=115931487&loc=d3e140864-122747 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB TOPIC 5.P.4) -URI http://asc.fasb.org/extlink&oid=115931487&loc=d3e140904-122747 + Details
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