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BUSINESS SEGMENTS AND RELATED INFORMATION (Tables) | 12 Months Ended
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May 31, 2026
BUSINESS SEGMENTS AND RELATED INFORMATION |
Schedule of segment reporting information | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2026
​ | ​ ​ ​ | ​ | ​ | Grocery & Snacks | ​ | ​ | Refrigerated & Frozen | ​ | ​ | International | ​ | ​ | Foodservice | ​ ​ ​ | ​ | Total
Net sales | ​ | ​ | $ | 4,610.1 | ​ | $ | 4,641.8 | ​ | $ | 913.9 | ​ | $ | 1,115.8 | ​ | $ | 11,281.6
Segment cost of goods sold1 | ​ | ​ | ​ | 3,267.8 | ​ | ​ | 3,719.5 | ​ | ​ | 669.6 | ​ | ​ | 918.0 | ​ | ​ | 8,574.9
Segment SG&A expenses2 | ​ | ​ | ​ | 457.3 | ​ | ​ | 436.7 | ​ | ​ | 109.9 | ​ | ​ | 83.5 | ​ | ​ | 1,087.4
Segment operating profit | ​ | ​ | $ | 885.0 | ​ | $ | 485.6 | ​ | $ | 134.4 | ​ | $ | 114.3 | ​ | $ | 1,619.3
General corporate expenses3 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 330.7
Goodwill impairment charges | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 2,382.4
Other intangible asset impairment charges | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 547.2
Gain on divestitures | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (42.2)
Other charges, net4 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 29.6
Operating loss | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | (1,628.4)
Pension and postretirement non-service income | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 45.9
Interest expense, net | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 382.6
Equity method investment earnings | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 140.7
Loss before income taxes | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | (1,824.4)
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2025
​ | ​ ​ ​ | ​ | ​ | Grocery & Snacks | ​ | ​ | Refrigerated & Frozen | ​ | ​ | International | ​ | ​ | Foodservice | ​ ​ ​ | ​ | Total
Net sales | ​ | ​ | $ | 4,899.3 | ​ | $ | 4,662.3 | ​ | $ | 956.5 | ​ | $ | 1,094.7 | ​ | $ | 11,612.8
Segment cost of goods sold1 | ​ | ​ | ​ | 3,431.4 | ​ | ​ | 3,606.4 | ​ | ​ | 700.7 | ​ | ​ | 885.4 | ​ | ​ | 8,623.9
Segment SG&A expenses2 | ​ | ​ | ​ | 450.9 | ​ | ​ | 404.2 | ​ | ​ | 111.9 | ​ | ​ | 78.3 | ​ | ​ | 1,045.3
Segment operating profit | ​ | ​ | $ | 1,017.0 | ​ | $ | 651.7 | ​ | $ | 143.9 | ​ | $ | 131.0 | ​ | $ | 1,943.6
General corporate expenses3 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 399.4
Other intangible asset impairment charges | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 72.1
Loss on divestitures | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 29.5
Other charges, net4 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 78.0
Operating profit | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 1,364.6
Pension and postretirement non-service income | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 25.9
Interest expense, net | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 416.7
Equity method investment earnings | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 182.4
Income before income taxes | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 1,156.2
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2024
​ | ​ ​ ​ | ​ | ​ | Grocery & Snacks | ​ | ​ | Refrigerated & Frozen | ​ | ​ | International | ​ | ​ | Foodservice | ​ ​ ​ | ​ | Total
Net sales | ​ | ​ | $ | 4,958.7 | ​ | $ | 4,865.5 | ​ | $ | 1,078.3 | ​ | $ | 1,148.4 | ​ | $ | 12,050.9
Segment cost of goods sold1 | ​ | ​ | ​ | 3,404.2 | ​ | ​ | 3,598.3 | ​ | ​ | 792.6 | ​ | ​ | 920.0 | ​ | ​ | 8,715.1
Segment SG&A expenses2 | ​ | ​ | ​ | 454.2 | ​ | ​ | 451.3 | ​ | ​ | 130.6 | ​ | ​ | 77.1 | ​ | ​ | 1,113.2
Segment operating profit | ​ | ​ | $ | 1,100.3 | ​ | $ | 815.9 | ​ | $ | 155.1 | ​ | $ | 151.3 | ​ | $ | 2,222.6
General corporate expenses3 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 322.2
Goodwill impairment charges | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 526.5
Other intangible asset impairment charges | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 430.2
Loss on divestitures | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 36.4
Other charges, net4 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 54.5
Operating profit | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 852.8
Pension and postretirement non-service income | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 10.3
Interest expense, net | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 430.5
Equity method investment earnings | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 177.6
Income before income taxes | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 610.2
​ 1 Segment cost of goods sold does not include items recorded in the Cost of goods sold line on our income statement that are presented in the Other charges, net line of this table. 2 Segment SG&A expenses are regularly provided to the CODM as a percent of net sales. Segment SG&A expenses do not include items recorded in the Selling, general and administrative expenses line of our income statement that are presented in the Other charges, net line of this table. 3 General corporate expenses relate to certain costs that are shared across multiple segments but are not directly attributable, which include executive compensation, share-based payment expense, and costs associated with certain corporate functions. 4 Other charges include the following: net charges related to our restructuring plans and net gains and losses associated with fire-related costs and insurance proceeds. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ ​ | 2026 | ​ ​ | 2025 | ​ ​ | 2024
Frozen | ​ | $ | 3,916.7 | ​ | $ | 3,945.5 | ​ | $ | 4,061.2
Staples | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Other shelf-stable | ​ | ​ | 2,384.6 | ​ | ​ | 2,790.8 | ​ | ​ | 2,834.1
Refrigerated | ​ | ​ | 725.1 | ​ | ​ | 716.8 | ​ | ​ | 804.3
Snacks | ​ | ​ | 2,225.5 | ​ | ​ | 2,108.5 | ​ | ​ | 2,124.6
International | ​ | ​ | 913.9 | ​ | ​ | 956.5 | ​ | ​ | 1,078.3
Foodservice | ​ | ​ | 1,115.8 | ​ | ​ | 1,094.7 | ​ | ​ | 1,148.4
Total net sales | ​ | $ | 11,281.6 | ​ | $ | 11,612.8 | ​ | $ | 12,050.9
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ ​ | 2026 | ​ ​ | 2025 | ​ ​ | 2024
Grocery & Snacks | ​ | $ | 146.9 | ​ | $ | 153.5 | ​ | $ | 149.2
Refrigerated & Frozen | ​ | ​ | 173.3 | ​ | ​ | 163.1 | ​ | ​ | 176.2
International | ​ | ​ | 14.6 | ​ | ​ | 14.2 | ​ | ​ | 16.8
Foodservice | ​ | ​ | 45.8 | ​ | ​ | 45.1 | ​ | ​ | 44.5
Total Reporting Segments | ​ | ​ | 380.6 | ​ | ​ | 375.9 | ​ | ​ | 386.7
Corporate | ​ | ​ | 15.4 | ​ | ​ | 14.3 | ​ | ​ | 14.2
Total Company | ​ | $ | 396.0 | ​ | $ | 390.2 | ​ | $ | 400.9

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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