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Note 19 - Business Segments and Related Information (Tables) | 12 Months Ended
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May 28, 2023
Notes Tables |
Schedule of Segment Reporting Information, by Segment [Table Text Block] |
|  | 2023 |  |  | 2022 |  |  | 2021 |
Net sales |  |  |  |  |  |  |  |  |  |  |  |
Grocery & Snacks |  | $ | 4,981.9 |  |  | $ | 4,697.4 |  |  | $ | 4,624.7 |
Refrigerated & Frozen |  |  | 5,156.2 |  |  |  | 4,859.3 |  |  |  | 4,774.6 |
International |  |  | 1,002.5 |  |  |  | 970.8 |  |  |  | 938.6 |
Foodservice |  |  | 1,136.4 |  |  |  | 1,008.4 |  |  |  | 846.8 |
Total net sales |  | $ | 12,277.0 |  |  | $ | 11,535.9 |  |  | $ | 11,184.7 |
Operating profit |  |  |  |  |  |  |  |  |  |  |  |
Grocery & Snacks |  | $ | 1,002.8 |  |  | $ | 859.5 |  |  | $ | 1,092.7 |
Refrigerated & Frozen |  |  | 255.0 |  |  |  | 561.1 |  |  |  | 836.5 |
International |  |  | 121.4 |  |  |  | 106.7 |  |  |  | 131.8 |
Foodservice |  |  | 85.0 |  |  |  | 60.3 |  |  |  | 80.0 |
Total operating profit |  | $ | 1,464.2 |  |  | $ | 1,587.6 |  |  | $ | 2,141.0 |
Equity method investment earnings |  |  | 212.0 |  |  |  | 145.3 |  |  |  | 84.4 |
General corporate expenses |  |  | 388.9 |  |  |  | 241.6 |  |  |  | 364.8 |
Pension and postretirement non-service income |  |  | 24.2 |  |  |  | 67.3 |  |  |  | 54.5 |
Interest expense, net |  |  | 409.6 |  |  |  | 379.9 |  |  |  | 420.4 |
Income tax expense |  |  | 218.7 |  |  |  | 290.5 |  |  |  | 193.8 |
Net income |  | $ | 683.2 |  |  | $ | 888.2 |  |  | $ | 1,300.9 |
Less: Net income attributable to noncontrolling interests |  |  | (0.4 | ) |  |  | — |  |  |  | 2.1 |
Net income attributable to Conagra Brands, Inc. |  | $ | 683.6 |  |  | $ | 888.2 |  |  | $ | 1,298.8 |
|  | 2023 |  |  | 2022 |  |  | 2021 |
Frozen |  | $ | 4,288.1 |  |  | $ | 4,091.1 |  |  | $ | 3,948.0 |
Staples |  |  |  |  |  |  |  |  |  |  |  |
Other shelf-stable |  |  | 2,851.9 |  |  |  | 2,729.5 |  |  |  | 2,830.2 |
Refrigerated |  |  | 868.1 |  |  |  | 768.2 |  |  |  | 826.6 |
Snacks |  |  | 2,130.0 |  |  |  | 1,967.9 |  |  |  | 1,794.5 |
International |  |  | 1,002.5 |  |  |  | 970.8 |  |  |  | 938.6 |
Foodservice |  |  | 1,136.4 |  |  |  | 1,008.4 |  |  |  | 846.8 |
Total net sales |  | $ | 12,277.0 |  |  | $ | 11,535.9 |  |  | $ | 11,184.7 |
Allocation of Net Derivative Gains (Losses) from Economic Hedges to Operating Results of Reporting Segments [Table Text Block] |
|  | 2023 |  |  | 2022 |  |  | 2021 |
Net derivative gains (losses) incurred |  | $ | (17.6 | ) |  | $ | 37.1 |  |  | $ | 9.5 |
Less: Net derivative gains (losses) allocated to reporting segments |  |  | 19.5 |  |  |  | 32.7 |  |  |  | (6.1 | )
Net derivative gains (losses) recognized in general corporate expenses |  | $ | (37.1 | ) |  | $ | 4.4 |  |  | $ | 15.6 |
Net derivative gains (losses) allocated to Grocery & Snacks |  | $ | 6.0 |  |  | $ | 17.3 |  |  | $ | (2.3 | )
Net derivative gains (losses) allocated to Refrigerated & Frozen |  |  | 9.6 |  |  |  | 17.4 |  |  |  | (1.7 | )
Net derivative gains (losses) allocated to International |  |  | 2.5 |  |  |  | (3.6 | ) |  |  | (1.7 | )
Net derivative gains (losses) allocated to Foodservice |  |  | 1.4 |  |  |  | 1.6 |  |  |  | (0.4 | )
Net derivative gains (losses) included in segment operating profit |  | $ | 19.5 |  |  | $ | 32.7 |  |  | $ | (6.1 | )

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