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RESTRUCTURING ACTIVITIES (Tables) | 6 Months Ended
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Nov. 29, 2020
Pinnacle Integration Restructuring Plan |
Restructuring Cost And Reserve [Line Items] |
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 second quarter of fiscal 2021):
|  | Grocery & Snacks |  |  | Refrigerated & Frozen |  |  | International |  |  | Corporate |  |  | Total |
Accelerated depreciation |  | $ | 8.7 |  |  | $ | 6.0 |  |  | $ | — |  |  | $ | — |  |  | $ | 14.7 |
Other cost of goods sold |  |  | 4.3 |  |  |  | 7.2 |  |  |  | 0.7 |  |  |  | — |  |  |  | 12.2 |
Total cost of goods sold |  |  | 13.0 |  |  |  | 13.2 |  |  |  | 0.7 |  |  |  | — |  |  |  | 26.9 |
Severance and related costs |  |  | — |  |  |  | 4.4 |  |  |  | 1.5 |  |  |  | 113.6 |  |  |  | 119.5 |
Asset impairment (net of gains on disposal) |  |  | 32.3 |  |  |  | 3.8 |  |  |  | — |  |  |  | 2.6 |  |  |  | 38.7 |
Accelerated depreciation |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 7.4 |  |  |  | 7.4 |
Contract/lease termination |  |  | 8.3 |  |  |  | 4.7 |  |  |  | 0.8 |  |  |  | 16.3 |  |  |  | 30.1 |
Consulting/professional fees |  |  | 1.0 |  |  |  | — |  |  |  | 0.8 |  |  |  | 103.0 |  |  |  | 104.8 |
Other selling, general and administrative expenses |  |  | 5.8 |  |  |  | 4.2 |  |  |  | 0.3 |  |  |  | 22.3 |  |  |  | 32.6 |
Total selling, general and administrative expenses |  |  | 47.4 |  |  |  | 17.1 |  |  |  | 3.4 |  |  |  | 265.2 |  |  |  | 333.1 |
Consolidated total |  | $ | 60.4 |  |  | $ | 30.3 |  |  | $ | 4.1 |  |  | $ | 265.2 |  |  | $ | 360.0 |
During the second quarter of fiscal 2021, we recognized the following pre-tax expenses for the Pinnacle Integration Restructuring Plan:
|  | Grocery & Snacks |  |  | Refrigerated & Frozen |  |  | Corporate |  |  | Total |
Accelerated depreciation |  | $ | — |  |  | $ | 0.8 |  |  | $ | — |  |  | $ | 0.8 |
Other cost of goods sold |  |  | — |  |  |  | 0.2 |  |  |  | — |  |  |  | 0.2 |
Total cost of goods sold |  |  | — |  |  |  | 1.0 |  |  |  | — |  |  |  | 1.0 |
Severance and related costs |  |  | — |  |  |  | — |  |  |  | (0.7 | ) |  |  | (0.7 | )
Asset impairment (net of gains on disposal) |  |  | 0.1 |  |  |  | — |  |  |  | — |  |  |  | 0.1 |
Contract/lease termination |  |  | 1.8 |  |  |  | — |  |  |  | 0.4 |  |  |  | 2.2 |
Consulting/professional fees |  |  | 0.1 |  |  |  | — |  |  |  | 5.1 |  |  |  | 5.2 |
Other selling, general and administrative expenses |  |  | 2.5 |  |  |  | (0.5 | ) |  |  | 0.4 |  |  |  | 2.4 |
Total selling, general and administrative expenses |  |  | 4.5 |  |  |  | (0.5 | ) |  |  | 5.2 |  |  |  | 9.2 |
Consolidated total |  | $ | 4.5 |  |  | $ | 0.5 |  |  | $ | 5.2 |  |  | $ | 10.2 |
During the first half of fiscal 2021, we recognized the following pre-tax expenses for the Pinnacle Integration Restructuring Plan:
|  | Grocery & Snacks |  |  | Refrigerated & Frozen |  |  | Corporate |  |  | Total |
Accelerated depreciation |  | $ | — |  |  | $ | 1.4 |  |  | $ | — |  |  | $ | 1.4 |
Other cost of goods sold |  |  | 0.5 |  |  |  | 0.2 |  |  |  | — |  |  |  | 0.7 |
Total cost of goods sold |  |  | 0.5 |  |  |  | 1.6 |  |  |  | — |  |  |  | 2.1 |
Severance and related costs |  |  | — |  |  |  | 0.1 |  |  |  | (1.5 | ) |  |  | (1.4 | )
Asset impairment (net of gains on disposal) |  |  | 0.1 |  |  |  | — |  |  |  | (0.3 | ) |  |  | (0.2 | )
Contract/lease termination |  |  | 1.8 |  |  |  | — |  |  |  | 0.6 |  |  |  | 2.4 |
Consulting/professional fees |  |  | 0.4 |  |  |  | — |  |  |  | 11.3 |  |  |  | 11.7 |
Other selling, general and administrative expenses |  |  | 2.6 |  |  |  | 0.5 |  |  |  | 1.1 |  |  |  | 4.2 |
Total selling, general and administrative expenses |  |  | 4.9 |  |  |  | 0.6 |  |  |  | 11.2 |  |  |  | 16.7 |
Consolidated total |  | $ | 5.4 |  |  | $ | 2.2 |  |  | $ | 11.2 |  |  | $ | 18.8 |
We recognized the following cumulative (plan inception to November 29, 2020) pre-tax expenses for the Pinnacle Integration Restructuring Plan in our Condensed Consolidated Statement of Operations:
|  | Grocery & Snacks |  |  | Refrigerated & Frozen |  |  | International |  |  | Corporate |  |  | Total |
Accelerated depreciation |  | $ | 0.6 |  |  | $ | 3.5 |  |  | $ | — |  |  | $ | — |  |  | $ | 4.1 |
Other cost of goods sold |  |  | 2.3 |  |  |  | 1.7 |  |  |  | 0.7 |  |  |  | — |  |  |  | 4.7 |
Total cost of goods sold |  |  | 2.9 |  |  |  | 5.2 |  |  |  | 0.7 |  |  |  | — |  |  |  | 8.8 |
Severance and related costs |  |  | — |  |  |  | 4.4 |  |  |  | 1.5 |  |  |  | 113.6 |  |  |  | 119.5 |
Asset impairment (net of gains on disposal) |  |  | 0.3 |  |  |  | 3.8 |  |  |  | — |  |  |  | 2.6 |  |  |  | 6.7 |
Accelerated depreciation |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 7.4 |  |  |  | 7.4 |
Contract/lease termination |  |  | 1.8 |  |  |  | — |  |  |  | 0.8 |  |  |  | 15.7 |  |  |  | 18.3 |
Consulting/professional fees |  |  | 0.6 |  |  |  | — |  |  |  | 0.8 |  |  |  | 78.6 |  |  |  | 80.0 |
Other selling, general and administrative expenses |  |  | 2.6 |  |  |  | 0.6 |  |  |  | 0.3 |  |  |  | 16.6 |  |  |  | 20.1 |
Total selling, general and administrative expenses |  |  | 5.3 |  |  |  | 8.8 |  |  |  | 3.4 |  |  |  | 234.5 |  |  |  | 252.0 |
Consolidated total |  | $ | 8.2 |  |  | $ | 14.0 |  |  | $ | 4.1 |  |  | $ | 234.5 |  |  | $ | 260.8 |
Schedule of Liabilities Recorded for the Restructuring Plan | Liabilities recorded for the Pinnacle Integration Restructuring Plan and changes therein for the first half of fiscal 2021 were as follows:
|  | Balance at May 31, 2020 |  |  | Costs Incurred and Charged to Expense |  |  | Costs Paid or Otherwise Settled |  |  | Changes in Estimates |  |  | Balance at November 29, 2020 |
Severance and related costs |  | $ | 23.6 |  |  | $ | 0.1 |  |  | $ | (10.2 | ) |  | $ | (1.5 | ) |  | $ | 12.0 |
Contract termination |  |  | 0.5 |  |  |  | 2.4 |  |  |  | (2.4 | ) |  |  | — |  |  |  | 0.5 |
Consulting/professional fees |  |  | 7.5 |  |  |  | 11.7 |  |  |  | (15.0 | ) |  |  | — |  |  |  | 4.2 |
Other costs |  |  | — |  |  |  | 4.9 |  |  |  | (4.9 | ) |  |  | — |  |  |  | — |
Total |  | $ | 31.6 |  |  | $ | 19.1 |  |  | $ | (32.5 | ) |  | $ | (1.5 | ) |  | $ | 16.7 |
Conagra Restructuring Plan |
Restructuring Cost And Reserve [Line Items] |
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 second quarter of fiscal 2021):
|  | Grocery & Snacks |  |  | Refrigerated & Frozen |  |  | International |  |  | Corporate |  |  | Total |
Accelerated depreciation |  | $ | 37.0 |  |  | $ | 45.4 |  |  | $ | — |  |  | $ | — |  |  | $ | 82.4 |
Other cost of goods sold |  |  | 8.9 |  |  |  | 2.1 |  |  |  | — |  |  |  | — |  |  |  | 11.0 |
Total cost of goods sold |  |  | 45.9 |  |  |  | 47.5 |  |  |  | — |  |  |  | — |  |  |  | 93.4 |
Severance and related costs |  |  | 12.1 |  |  |  | 1.8 |  |  |  | 1.1 |  |  |  | 1.5 |  |  |  | 16.5 |
Asset impairment (net of gains on disposal) |  |  | 28.0 |  |  |  | 0.3 |  |  |  | 0.1 |  |  |  | — |  |  |  | 28.4 |
Contract/lease termination |  |  | 0.2 |  |  |  | — |  |  |  | — |  |  |  | 0.1 |  |  |  | 0.3 |
Consulting/professional fees |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1.1 |  |  |  | 1.1 |
Other selling, general and administrative expenses |  |  | 11.5 |  |  |  | 4.3 |  |  |  | — |  |  |  | 0.1 |  |  |  | 15.9 |
Total selling, general and administrative expenses |  |  | 51.8 |  |  |  | 6.4 |  |  |  | 1.2 |  |  |  | 2.8 |  |  |  | 62.2 |
Total |  | $ | 97.7 |  |  | $ | 53.9 |  |  | $ | 1.2 |  |  | $ | 2.8 |  |  | $ | 155.6 |
Pension and postretirement non-service income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 0.6 |
Consolidated total |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 156.2 |
During the second quarter of fiscal 2021, we recognized the following pre-tax expenses for the Conagra Restructuring Plan:
|  | Grocery & Snacks |  |  | Refrigerated & Frozen |  |  | Corporate |  |  | Total |
Accelerated depreciation |  | $ | 1.9 |  |  | $ | 6.6 |  |  | $ | — |  |  | $ | 8.5 |
Total cost of goods sold |  |  | 1.9 |  |  |  | 6.6 |  |  |  | — |  |  |  | 8.5 |
Severance and related costs |  |  | 0.5 |  |  |  | — |  |  |  | 0.5 |  |  |  | 1.0 |
Asset impairment (net of gains on disposal) |  |  | — |  |  |  | 0.1 |  |  |  | — |  |  |  | 0.1 |
Other selling, general and administrative expenses |  |  | 0.9 |  |  |  | — |  |  |  | — |  |  |  | 0.9 |
Total selling, general and administrative expenses |  |  | 1.4 |  |  |  | 0.1 |  |  |  | 0.5 |  |  |  | 2.0 |
Total |  | $ | 3.3 |  |  | $ | 6.7 |  |  | $ | 0.5 |  |  | $ | 10.5 |
During the first half of fiscal 2021, we recognized the following pre-tax expenses for the Conagra Restructuring Plan:
|  | Grocery & Snacks |  |  | Refrigerated & Frozen |  |  | International |  |  | Corporate |  |  | Total |
Accelerated depreciation |  | $ | 4.9 |  |  | $ | 10.6 |  |  | $ | — |  |  | $ | — |  |  | $ | 15.5 |
Other cost of goods sold |  |  | 2.3 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 2.3 |
Total cost of goods sold |  |  | 7.2 |  |  |  | 10.6 |  |  |  | — |  |  |  | — |  |  |  | 17.8 |
Severance and related costs |  |  | 3.6 |  |  |  | — |  |  |  | (0.1 | ) |  |  | 0.8 |  |  |  | 4.3 |
Asset impairment (net of gains on disposal) |  |  | 3.0 |  |  |  | 0.1 |  |  |  | — |  |  |  | — |  |  |  | 3.1 |
Other selling, general and administrative expenses |  |  | 2.5 |  |  |  | — |  |  |  | — |  |  |  | 0.1 |  |  |  | 2.6 |
Total selling, general and administrative expenses |  |  | 9.1 |  |  |  | 0.1 |  |  |  | (0.1 | ) |  |  | 0.9 |  |  |  | 10.0 |
Total |  | $ | 16.3 |  |  | $ | 10.7 |  |  | $ | (0.1 | ) |  | $ | 0.9 |  |  | $ | 27.8 |
We recognized the following cumulative (plan inception to November 29, 2020) pre-tax expenses for the Conagra Restructuring Plan in our Condensed Consolidated Statement of Operations:
|  | Grocery & Snacks |  |  | Refrigerated & Frozen |  |  | International |  |  | Corporate |  |  | Total |
Accelerated depreciation |  | $ | 29.0 |  |  | $ | 14.8 |  |  | $ | — |  |  | $ | — |  |  | $ | 43.8 |
Other cost of goods sold |  |  | 4.8 |  |  |  | 0.2 |  |  |  | — |  |  |  | — |  |  |  | 5.0 |
Total cost of goods sold |  |  | 33.8 |  |  |  | 15.0 |  |  |  | — |  |  |  | — |  |  |  | 48.8 |
Severance and related costs |  |  | 8.3 |  |  |  | 1.8 |  |  |  | 1.1 |  |  |  | 1.5 |  |  |  | 12.7 |
Asset impairment (net of gains on disposal) |  |  | 28.0 |  |  |  | 0.3 |  |  |  | 0.1 |  |  |  | — |  |  |  | 28.4 |
Contract/lease termination |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 0.1 |  |  |  | 0.1 |
Other selling, general and administrative expenses |  |  | 3.4 |  |  |  | 0.3 |  |  |  | — |  |  |  | 0.1 |  |  |  | 3.8 |
Total selling, general and administrative expenses |  |  | 39.7 |  |  |  | 2.4 |  |  |  | 1.2 |  |  |  | 1.7 |  |  |  | 45.0 |
Total |  | $ | 73.5 |  |  | $ | 17.4 |  |  | $ | 1.2 |  |  | $ | 1.7 |  |  | $ | 93.8 |
Pension and postretirement non-service income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 0.6 |
Consolidated total |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 94.4 |
Schedule of Liabilities Recorded for the Restructuring Plan | Liabilities recorded for the Conagra Restructuring Plan and changes therein for the first half of fiscal 2021 were as follows:
|  | Balance at May 31, 2020 |  |  | Costs Incurred and Charged to Expense |  |  | Costs Paid or Otherwise Settled |  |  | Changes in Estimates |  |  | Balance at November 29, 2020 |
Severance and related costs |  | $ | 6.5 |  |  | $ | 4.4 |  |  | $ | (3.3 | ) |  | $ | (0.1 | ) |  | $ | 7.5 |
Other costs |  |  | — |  |  |  | 2.6 |  |  |  | (2.6 | ) |  |  | — |  |  |  | — |
Total |  | $ | 6.5 |  |  | $ | 7.0 |  |  | $ | (5.9 | ) |  | $ | (0.1 | ) |  | $ | 7.5 |

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