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STOCKHOLDERS' EQUITY | 6 Months Ended
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Nov. 24, 2024
Notes to Financial Statements |
STOCKHOLDERS' EQUITY | 15. STOCKHOLDERS’ EQUITY The following table presents a reconciliation of our stockholders’ equity accounts for the twenty-six weeks ended November 24, 2024: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Conagra Brands, Inc. Stockholders' Equity | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Accumulated | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | Additional | ​ | ​ | ​ | ​ | Other | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Common | ​ | Common | ​ | Paid-in | ​ | Retained | ​ | Comprehensive | ​ | Treasury | ​ | Noncontrolling | ​ | Total
​ |  | Shares |  | Stock |  | Capital |  | Earnings |  | Loss |  | Stock |  | Interests |  | Equity
Balance at May 26, 2024 | ​ | 584.2 | ​ | $ | 2,921.2 | ​ | $ | 2,363.2 | ​ | $ | 6,276.3 | ​ | $ | (35.5) | ​ | $ | (3,084.8) | ​ | $ | 70.9 | ​ | $ | 8,511.3
Stock option and incentive plans | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (33.5) | ​ | ​ | (0.5) | ​ | ​ | ​ | ​ | ​ | 34.8 | ​ | ​ | ​ | ​ | ​ | 0.8
Currency translation adjustments | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 22.5 | ​ | ​ | ​ | ​ | ​ | 38.0 | ​ | ​ | 60.5
Repurchase of common shares | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (64.0) | ​ | ​ | ​ | ​ | ​ | (64.0)
Derivative adjustments | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (3.3) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (3.3)
Activities of noncontrolling interests | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (108.9) | ​ | ​ | (108.9)
Pension and postretirement healthcare benefits | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 0.2 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 0.2
Dividends declared on common stock; $0.35 per share | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (167.8) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (167.8)
Net income attributable to Conagra Brands, Inc. | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 466.8 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 466.8
Balance at August 25, 2024 | ​ | 584.2 | ​ | $ | 2,921.2 | ​ | $ | 2,329.7 | ​ | $ | 6,574.8 | ​ | $ | (16.1) | ​ | $ | (3,114.0) | ​ | $ | — | ​ | $ | 8,695.6
Stock option and incentive plans | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 7.8 | ​ | ​ | (0.3) | ​ | ​ | ​ | ​ | ​ | 1.3 | ​ | ​ | ​ | ​ | ​ | 8.8
Currency translation adjustments | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (19.4) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (19.4)
Derivative adjustments | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (1.0) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (1.0)
Pension and postretirement healthcare benefits | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (0.8) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (0.8)
Dividends declared on common stock; $0.35 per share | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (167.0) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (167.0)
Net income attributable to Conagra Brands, Inc. | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 284.5 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 284.5
Balance at November 24, 2024 | ​ | 584.2 | ​ | $ | 2,921.2 | ​ | $ | 2,337.5 | ​ | $ | 6,692.0 | ​ | $ | (37.3) | ​ | $ | (3,112.7) | ​ | $ | — | ​ | $ | 8,800.7
​ The following table presents a reconciliation of our stockholders’ equity accounts for the twenty-six weeks ended November 26, 2023: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Conagra Brands, Inc. Stockholders' Equity | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Accumulated | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | Additional | ​ | ​ | ​ | ​ | Other | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Common | ​ | Common | ​ | Paid-in | ​ | Retained | ​ | Comprehensive | ​ | Treasury | ​ | Noncontrolling | ​ | Total
​ |  | Shares |  | Stock |  | Capital |  | Earnings |  | Loss |  | Stock |  | Interests |  | Equity
Balance at May 28, 2023 | ​ | 584.2 | ​ | $ | 2,921.2 | ​ | $ | 2,376.9 | ​ | $ | 6,599.4 | ​ | $ | (44.4) | ​ | $ | (3,116.3) | ​ | $ | 70.5 | ​ | $ | 8,807.3
Stock option and incentive plans | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (42.9) | ​ | ​ | 1.1 | ​ | ​ | ​ | ​ | ​ | 25.6 | ​ | ​ | ​ | ​ | ​ | (16.2)
Currency translation adjustments | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 10.7 | ​ | ​ | ​ | ​ | ​ | (0.1) | ​ | ​ | 10.6
Derivative adjustments | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 1.6 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 1.6
Activities of noncontrolling interests | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 0.2 | ​ | ​ | 0.2
Pension and postretirement healthcare benefits | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (0.8) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (0.8)
Dividends declared on common stock; $0.35 per share | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (167.3) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (167.3)
Net income attributable to Conagra Brands, Inc. | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 319.7 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 319.7
Balance at August 27, 2023 | ​ | 584.2 | ​ | $ | 2,921.2 | ​ | $ | 2,334.0 | ​ | $ | 6,752.9 | ​ | $ | (32.9) | ​ | $ | (3,090.7) | ​ | $ | 70.6 | ​ | $ | 8,955.1
Stock option and incentive plans | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 5.6 | ​ | ​ | (0.4) | ​ | ​ | ​ | ​ | ​ | 1.1 | ​ | ​ | 0.3 | ​ | ​ | 6.6
Currency translation adjustments | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (5.6) | ​ | ​ | ​ | ​ | ​ | (0.7) | ​ | ​ | (6.3)
Derivative adjustments | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 0.8 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 0.8
Pension and postretirement healthcare benefits | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (1.0) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (1.0)
Dividends declared on common stock; $0.35 per share | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (167.2) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (167.2)
Net income attributable to Conagra Brands, Inc. | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 286.2 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 286.2
Balance at November 26, 2023 | ​ | 584.2 | ​ | $ | 2,921.2 | ​ | $ | 2,339.6 | ​ | $ | 6,871.5 | ​ | $ | (38.7) | ​ | $ | (3,089.6) | ​ | $ | 70.2 | ​ | $ | 9,074.2
​ The following table details the accumulated balances for each component of other comprehensive loss, net of tax: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | November 24, 2024 |  | May 26, 2024
Currency translation losses, net of reclassification adjustments | ​ | $ | (86.1) | ​ | $ | (89.2)
Derivative adjustments, net of reclassification adjustments | ​ | ​ | 24.9 | ​ | ​ | 29.2
Pension and postretirement benefit obligations, net of reclassification adjustments | ​ | ​ | 23.9 | ​ | ​ | 24.5
Accumulated other comprehensive loss | ​ | $ | (37.3) | ​ | $ | (35.5)
​ ​ The following tables summarize the reclassifications from accumulated other comprehensive income (loss) into income: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Affected Line Item in the Condensed Consolidated Statement of
​ | ​ | Thirteen Weeks Ended | ​ | Earnings1
​ |  | November 24, 2024 |  | November 26, 2023 |  | ​
Net derivative adjustments: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash flow hedges | ​ | $ | (0.6) | ​ | $ | (0.9) | ​ | Interest expense, net
Cash flow hedges | ​ | ​ | (1.2) | ​ | ​ | (1.2) | ​ | Equity method investment earnings
​ | ​ | ​ | (1.8) | ​ | ​ | (2.1) | ​ | Total before tax
​ | ​ | ​ | 0.4 | ​ | ​ | 0.5 | ​ | Income tax expense
​ | ​ | $ | (1.4) | ​ | $ | (1.6) | ​ | Net of tax
Pension and postretirement liabilities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net actuarial gain | ​ | $ | (1.2) | ​ | $ | (1.2) | ​ | Pension and postretirement non-service income
​ | ​ | ​ | (1.2) | ​ | ​ | (1.2) | ​ | Total before tax
​ | ​ | ​ | 0.4 | ​ | ​ | 0.3 | ​ | Income tax expense
​ | ​ | $ | (0.8) | ​ | $ | (0.9) | ​ | Net of tax
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Affected Line Item in the Condensed Consolidated Statement of
​ | ​ | Twenty-Six Weeks Ended | ​ | Earnings1
​ |  | November 24, 2024 |  | November 26, 2023 |  | ​
Net derivative adjustments: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash flow hedges | ​ | $ | (1.3) | ​ | $ | (1.8) | ​ | Interest expense, net
Cash flow hedges | ​ | ​ | (2.4) | ​ | ​ | (2.3) | ​ | Equity method investment earnings
​ | ​ | ​ | (3.7) | ​ | ​ | (4.1) | ​ | Total before tax
​ | ​ | ​ | 0.9 | ​ | ​ | 1.0 | ​ | Income tax expense
​ | ​ | $ | (2.8) | ​ | $ | (3.1) | ​ | Net of tax
Pension and postretirement liabilities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net actuarial gain | ​ | $ | (2.3) | ​ | $ | (2.4) | ​ | Pension and postretirement non-service income
​ | ​ | ​ | (2.3) | ​ | ​ | (2.4) | ​ | Total before tax
​ | ​ | ​ | 0.6 | ​ | ​ | 0.6 | ​ | Income tax expense
​ | ​ | $ | (1.7) | ​ | $ | (1.8) | ​ | Net of tax
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Currency translation losses | ​ | $ | 41.8 | ​ | $ | — | ​ | Selling, general and administrative expenses 2
​ | ​ | ​ | 41.8 | ​ | ​ | — | ​ | Total before tax
​ | ​ | ​ | — | ​ | ​ | — | ​ | Income tax expense
​ | ​ | $ | 41.8 | ​ | $ | — | ​ | Net of tax
​ 1Amounts in parentheses indicate income recognized in the Condensed Consolidated Statements of Earnings. 2Amount represents the reclassification for currency translation losses in connection with the sale of ATFL (see Note 3).

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