XML 27 R18.htm IDEA: XBRL DOCUMENT
v3.23.1

Note 12 - Stockholders' Equity | 9 Months Ended
--- | ---
Feb. 26, 2023
Notes to Financial Statements |
Stockholders' Equity Note Disclosure [Text Block] | 12. STOCKHOLDERS' EQUITY The following table presents a reconciliation of our stockholders' equity accounts for the thirty-nine weeks ended February 26, 2023:
|  | Conagra Brands, Inc. Stockholders' Equity |  |  |  |  |  |  |  |  |
|  | Common Shares |  |  | Common Stock |  |  | Additional Paid-in Capital |  |  | Retained Earnings |  |  | Accumulated Other Comprehensive Income (Loss) |  |  | Treasury Stock |  |  | Noncontrolling Interests |  |  | Total Equity |
Balance at May 29, 2022 |  |  | 584.2 |  |  | $ | 2,921.2 |  |  | $ | 2,324.6 |  |  | $ | 6,550.7 |  |  | $ | (11.2 | ) |  | $ | (2,997.6 | ) |  | $ | 74.5 |  |  | $ | 8,862.2 |
Stock option and incentive plans |  |  |  |  |  |  |  |  |  |  | (1.6 | ) |  |  | 0.2 |  |  |  |  |  |  |  | 16.3 |  |  |  |  |  |  |  | 14.9 |
Currency translation adjustments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (11.5 | ) |  |  |  |  |  |  | (2.1 | ) |  |  | (13.6 | )
Repurchase of common shares |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (50.0 | ) |  |  |  |  |  |  | (50.0 | )
Derivative adjustments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (2.1 | ) |  |  |  |  |  |  |  |  |  |  | (2.1 | )
Pension and postretirement healthcare benefits |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1.4 |  |  |  |  |  |  |  |  |  |  |  | 1.4 |
Dividends declared on common stock; $0.33 per share |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (158.6 | ) |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (158.6 | )
Net loss attributable to Conagra Brands, Inc. |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (77.5 | ) |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (77.5 | )
Balance at August 28, 2022 |  |  | 584.2 |  |  | $ | 2,921.2 |  |  | $ | 2,323.0 |  |  | $ | 6,314.8 |  |  | $ | (23.4 | ) |  | $ | (3,031.3 | ) |  | $ | 72.4 |  |  | $ | 8,576.7 |
Stock option and incentive plans |  |  |  |  |  |  |  |  |  |  | 37.9 |  |  |  | (2.4 | ) |  |  |  |  |  |  | 3.6 |  |  |  | 0.5 |  |  |  | 39.6 |
Currency translation adjustments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (6.5 | ) |  |  |  |  |  |  | (1.7 | ) |  |  | (8.2 | )
Repurchase of common shares |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (100.0 | ) |  |  |  |  |  |  | (100.0 | )
Derivative adjustments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 6.6 |  |  |  |  |  |  |  |  |  |  |  | 6.6 |
Activities of noncontrolling interests |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 0.3 |  |  |  | 0.3 |
Pension and postretirement healthcare benefits |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (1.3 | ) |  |  |  |  |  |  | (0.1 | ) |  |  | (1.4 | )
Dividends declared on common stock; $0.33 per share |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (157.8 | ) |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (157.8 | )
Net income attributable to Conagra Brands, Inc. |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 381.9 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 381.9 |
Balance at November 27, 2022 |  |  | 584.2 |  |  | $ | 2,921.2 |  |  | $ | 2,360.9 |  |  | $ | 6,536.5 |  |  | $ | (24.6 | ) |  | $ | (3,127.7 | ) |  | $ | 71.4 |  |  | $ | 8,737.7 |
Stock option and incentive plans |  |  |  |  |  |  |  |  |  |  | 7.3 |  |  |  | (0.8 | ) |  |  |  |  |  |  | 8.2 |  |  |  | 1.5 |  |  |  | 16.2 |
Currency translation adjustments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 5.8 |  |  |  |  |  |  |  | (1.5 | ) |  |  | 4.3 |
Derivative adjustments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (3.9 | ) |  |  |  |  |  |  |  |  |  |  | (3.9 | )
Activities of noncontrolling interests |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 0.5 |  |  |  | 0.5 |
Pension and postretirement healthcare benefits |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (0.8 | ) |  |  |  |  |  |  |  |  |  |  | (0.8 | )
Dividends declared on common stock; $0.33 per share |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (157.4 | ) |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (157.4 | )
Net income attributable to Conagra Brands, Inc. |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 341.7 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 341.7 |
Balance at February 26, 2023 |  |  | 584.2 |  |  | $ | 2,921.2 |  |  | $ | 2,368.2 |  |  | $ | 6,720.0 |  |  | $ | (23.5 | ) |  | $ | (3,119.5 | ) |  | $ | 71.9 |  |  | $ | 8,938.3 |
The following table presents a reconciliation of our stockholders' equity accounts for the thirty-nine weeks ended February 27, 2022:
|  | Conagra Brands, Inc. Stockholders' Equity |  |  |  |  |  |  |  |  |
|  | Common Shares |  |  | Common Stock |  |  | Additional Paid-in Capital |  |  | Retained Earnings |  |  | Accumulated Other Comprehensive Income (Loss) |  |  | Treasury Stock |  |  | Noncontrolling Interests |  |  | Total Equity |
Balance at May 30, 2021 |  |  | 584.2 |  |  | $ | 2,921.2 |  |  | $ | 2,342.1 |  |  | $ | 6,262.6 |  |  | $ | 5.8 |  |  | $ | (2,979.9 | ) |  | $ | 79.6 |  |  | $ | 8,631.4 |
Stock option and incentive plans |  |  |  |  |  |  |  |  |  |  | (37.1 | ) |  |  | 0.2 |  |  |  |  |  |  |  | 21.8 |  |  |  | 0.3 |  |  |  | (14.8 | )
Currency translation adjustments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (14.4 | ) |  |  |  |  |  |  | (1.3 | ) |  |  | (15.7 | )
Repurchase of common shares |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (50.0 | ) |  |  |  |  |  |  | (50.0 | )
Derivative adjustments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (2.1 | ) |  |  |  |  |  |  |  |  |  |  | (2.1 | )
Activities of noncontrolling interests |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 0.3 |  |  |  | 0.3 |
Pension and postretirement healthcare benefits |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1.3 |  |  |  |  |  |  |  |  |  |  |  | 1.3 |
Dividends declared on common stock; $0.3125 per share |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (149.9 | ) |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (149.9 | )
Net income attributable to Conagra Brands, Inc. |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 235.4 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 235.4 |
Balance at August 29, 2021 |  |  | 584.2 |  |  | $ | 2,921.2 |  |  | $ | 2,305.0 |  |  | $ | 6,348.3 |  |  | $ | (9.4 | ) |  | $ | (3,008.1 | ) |  | $ | 78.9 |  |  | $ | 8,635.9 |
Stock option and incentive plans |  |  |  |  |  |  |  |  |  |  | 12.1 |  |  |  | (0.6 | ) |  |  |  |  |  |  | 0.3 |  |  |  | 0.1 |  |  |  | 11.9 |
Currency translation adjustments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (16.2 | ) |  |  |  |  |  |  | (1.5 | ) |  |  | (17.7 | )
Derivative adjustments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1.4 |  |  |  |  |  |  |  |  |  |  |  | 1.4 |
Activities of noncontrolling interests |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 0.4 |  |  |  | 0.4 |
Pension and postretirement healthcare benefits |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (0.6 | ) |  |  |  |  |  |  |  |  |  |  | (0.6 | )
Dividends declared on common stock; $0.3125 per share |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (149.9 | ) |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (149.9 | )
Net income attributable to Conagra Brands, Inc. |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 275.5 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 275.5 |
Balance at November 28, 2021 |  |  | 584.2 |  |  | $ | 2,921.2 |  |  | $ | 2,317.1 |  |  | $ | 6,473.3 |  |  | $ | (24.8 | ) |  | $ | (3,007.8 | ) |  | $ | 77.9 |  |  | $ | 8,756.9 |
Stock option and incentive plans |  |  |  |  |  |  |  |  |  |  | 11.1 |  |  |  | (0.5 | ) |  |  |  |  |  |  | 5.1 |  |  |  | 0.4 |  |  |  | 16.1 |
Currency translation adjustments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 10.8 |  |  |  |  |  |  |  | (0.1 | ) |  |  | 10.7 |
Derivative adjustments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1.3 |  |  |  |  |  |  |  |  |  |  |  | 1.3 |
Activities of noncontrolling interests |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 0.5 |  |  |  | 0.5 |
Pension and postretirement healthcare benefits |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (0.6 | ) |  |  |  |  |  |  |  |  |  |  | (0.6 | )
Dividends declared on common stock; $0.3125 per share |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (150.0 | ) |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (150.0 | )
Net income attributable to Conagra Brands, Inc. |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 218.4 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 218.4 |
Balance at February 27, 2022 |  |  | 584.2 |  |  | $ | 2,921.2 |  |  | $ | 2,328.2 |  |  | $ | 6,541.2 |  |  | $ | (13.3 | ) |  | $ | (3,002.7 | ) |  | $ | 78.7 |  |  | $ | 8,853.3 |
The following table details the accumulated balances for each component of other comprehensive loss, net of tax:
|  | February 26, 2023 |  |  | May 29, 2022 |
Currency translation losses, net of reclassification adjustments |  | $ | (107.3 | ) |  | $ | (95.1 | )
Derivative adjustments, net of reclassification adjustments |  |  | 30.4 |  |  |  | 29.8 |
Pension and postretirement benefit obligations, net of reclassification adjustments |  |  | 53.4 |  |  |  | 54.1 |
Accumulated other comprehensive loss |  | $ | (23.5 | ) |  | $ | (11.2 | )
The following tables summarize the reclassifications from accumulated other comprehensive income (loss) into income:
|  | Thirteen Weeks Ended |  | Affected Line Item in the Condensed Consolidated Statement of Earnings1
|  | February 26, 2023 |  |  | February 27, 2022 |  |
Net derivative adjustments: |  |  |  |  |  |  |  |  |
Cash flow hedges |  | $ | (0.9 | ) |  | $ | (0.8 | ) | Interest expense, net
Cash flow hedges |  |  | (0.7 | ) |  |  | 0.4 |  | Equity method investment earnings
|  |  | (1.6 | ) |  |  | (0.4 | ) | Total before tax
|  |  | 0.4 |  |  |  | 0.2 |  | Income tax expense
|  | $ | (1.2 | ) |  | $ | (0.2 | ) | Net of tax
Pension and postretirement liabilities: |  |  |  |  |  |  |  |  |
Net actuarial gain |  | $ | (1.1 | ) |  | $ | (0.9 | ) | Pension and postretirement non-service income
|  |  | (1.1 | ) |  |  | (0.9 | ) | Total before tax
|  |  | 0.3 |  |  |  | 0.3 |  | Income tax expense
|  | $ | (0.8 | ) |  | $ | (0.6 | ) | Net of tax
|  | Thirty-Nine Weeks Ended |  | Affected Line Item in the Condensed Consolidated Statement of Earnings1
|  | February 26, 2023 |  |  | February 27, 2022 |  |
Net derivative adjustments: |  |  |  |  |  |  |  |  |
Cash flow hedges |  | $ | (2.5 | ) |  | $ | (2.3 | ) | Interest expense, net
Cash flow hedges |  |  | (0.7 | ) |  |  | 1.3 |  | Equity method investment earnings
|  |  | (3.2 | ) |  |  | (1.0 | ) | Total before tax
|  |  | 0.9 |  |  |  | 0.3 |  | Income tax expense
|  | $ | (2.3 | ) |  | $ | (0.7 | ) | Net of tax
Pension and postretirement liabilities: |  |  |  |  |  |  |  |  |
Net prior service cost |  | $ | (0.1 | ) |  | $ | 0.1 |  | Pension and postretirement non-service income
Net actuarial gain |  |  | (3.3 | ) |  |  | (2.7 | ) | Pension and postretirement non-service income
|  |  | (3.4 | ) |  |  | (2.6 | ) | Total before tax
|  |  | 1.0 |  |  |  | 0.8 |  | Income tax expense
|  | $ | (2.4 | ) |  | $ | (1.8 | ) | Net of tax
1Amounts in parentheses indicate income recognized in the Condensed Consolidated Statements of Earnings.

X
- References No definition available. + Details
Name: | us-gaap_DisclosureTextBlockAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI https://asc.fasb.org/topic&trid=2208762 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 14 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496171-112644 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 14 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496171-112644 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI https://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 18 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496189-112644 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (g) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 18 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496189-112644 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (h) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 14 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496171-112644 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 18 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496189-112644 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 16 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496180-112644 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (i) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644 Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(e)(1)) -URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 Reference 16: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 40 -Section 50 -Paragraph 6 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126731327&loc=SL126733271-114008 + Details
Name: | us-gaap_StockholdersEquityNoteDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration