$CAG

CONAGRA FOODS INC /DE/

CIK:0000023217|SEC Filings

Condensed Consolidated Statements of Earnings - USD ($) $ in Millions	3 Months Ended
	Aug. 30, 2026	Aug. 24, 2025
Condensed Consolidated Statements of Earnings
Net sales	$ 2,595.9	$ 2,632.6
Cost of goods sold	1,977.2	1,992.0
Gross profit	618.7	640.6
Selling, general and administrative expenses	350.3	335.6
Gain on divestitures		(42.4)
Operating profit	268.4	347.4
Pension and postretirement non-service income	5.9	6.1
Interest expense, net	91.8	93.8
Equity method investment earnings	50.4	29.4
Income before income taxes	232.9	289.1
Income tax expense	58.6	124.6
Net income	$ 174.3	$ 164.5
Earnings per share - basic
Net income	$ 0.36	$ 0.34
Earnings per share - diluted
Net income	$ 0.36	$ 0.34

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Aug. 30, 2026	Aug. 24, 2025
Cash flows from operating activities:
Net income	$ 174.3	$ 164.5
Adjustments to reconcile net income to net cash flows from operating activities:
Depreciation and amortization	97.9	95.3
Asset impairment charges	0.6	1.2
Gain on divestitures		(42.4)
Equity method investment earnings in excess of distributions	(32.2)	(0.2)
Stock-settled share-based payments expense	14.3	19.6
Contributions to pension plans	(1.8)	(2.7)
Pension benefit	(3.7)	(4.0)
Other items	1.6	(3.6)
Change in operating assets and liabilities excluding effects of business acquisitions and dispositions:
Receivables	(20.3)	(51.3)
Inventories	(248.6)	(207.4)
Deferred income taxes and income taxes payable, net	10.3	99.3
Prepaid expenses and other current assets	(30.9)	(41.8)
Accounts and other payables	113.3	20.3
Accrued payroll	(102.9)	(29.9)
Other accrued liabilities	50.0	91.7
Litigation receivables, net of recoveries	1.6	65.1
Litigation accruals, net of payments	(27.7)	(53.1)
Net cash flows from operating activities	(4.2)	120.6
Cash flows from investing activities:
Additions to property, plant and equipment	(123.7)	(146.8)
Sale of property, plant and equipment	15.0	6.2
Proceeds from divestitures, net of cash divested		643.6
Other items	(1.0)	(1.0)
Net cash flows from investing activities	(109.7)	502.0
Cash flows from financing activities:
Issuance of short-term borrowings, maturities greater than 90 days	25.2	31.9
Repayment of short-term borrowings, maturities greater than 90 days	(26.9)	(536.3)
Net repayment of other short-term borrowings, maturities less than or equal to 90 days		(258.8)
Issuance of long-term debt	500.0	1,000.0
Repayment of long-term debt	(4.4)	(18.0)
Debt issuance costs	(3.9)	(10.6)
Repurchase of Conagra Brands, Inc. common shares	(44.0)	(15.0)
Cash dividends paid	(167.5)	(167.1)
Exercise of stock options and issuance of other stock awards, including tax withholdings	(12.7)	(18.8)
Other items	1.5	(0.1)
Net cash flows from financing activities	267.3	7.2
Effect of exchange rate changes on cash and cash equivalents	0.2	0.3
Net change in cash and cash equivalents	153.6	630.1
Cash and cash equivalents at beginning of period	218.0	68.0
Cash and cash equivalents at end of period	$ 371.6	$ 698.1

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Aug. 30, 2026	May 31, 2026
ASSETS
Cash and cash equivalents	$ 371.6	$ 218.0
Receivables, less allowance for doubtful accounts of $4.0 and $3.9	677.0	658.2
Inventories	2,154.0	1,905.4
Prepaid expenses and other current assets	143.9	100.5
Current assets held for sale	13.3
Total current assets	3,359.8	2,882.1
Property, plant and equipment
Property, plant and equipment	6,830.9	6,843.3
Less accumulated depreciation	(4,007.1)	(3,980.4)
Property, plant and equipment, net	2,823.8	2,862.9
Goodwill	8,118.9	8,119.3
Brands, trademarks and other intangibles, net	1,819.8	1,830.7
Other assets	1,579.2	1,566.4
Noncurrent assets held for sale		13.0
Assets	17,701.5	17,274.4
Current liabilities
Notes payable	32.5	34.2
Current installments of long-term debt	787.5	778.2
Accounts and other payables	1,562.6	1,513.3
Accrued payroll	98.8	201.7
Other accrued liabilities	584.0	660.6
Total current liabilities	3,065.4	3,188.0
Senior long-term debt, excluding current installments	6,940.1	6,456.0
Deferred income taxes	712.0	693.4
Other noncurrent liabilities	579.1	579.4
Total liabilities	11,296.6	10,916.8
Common stockholders' equity
Common stock of $5 par value, authorized 1,200,000,000 shares; issued 584,219,229	2,921.2	2,921.2
Additional paid-in capital	2,262.1	2,316.1
Retained earnings	4,261.1	4,171.7
Accumulated other comprehensive income	6.6	7.4
Less treasury stock, at cost, 106,807,712 and 105,666,163 common shares	(3,046.1)	(3,058.8)
Total stockholders' equity	6,404.9	6,357.6
Liabilities and Equity	$ 17,701.5	$ 17,274.4