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GENERAL MILLS INC

CIK:0000040704|SEC Filings

Consolidated Statements of Earnings - USD ($) $ in Millions	3 Months Ended
Consolidated Statements of Earnings - USD ($) $ in Millions	Aug. 30, 2026	Aug. 24, 2025
Income Statement [Abstract]
Net sales	$ 4,389.5	$ 4,517.5
Cost of sales	2,902.3	2,984.7
Selling, general, and administrative expenses	832.2	845.1
Gain (Loss) on Disposition of Business	0.0	(1,054.4)
Restructuring, transformation, impairment, and other exit costs	21.4	16.3
Operating profit	633.6	1,725.8
Benefit plan non-service income	(10.6)	(15.1)
Interest, net	142.2	132.8
Earnings before income taxes and after-tax earnings from joint ventures	502.0	1,608.1
Income taxes	122.8	410.9
After-tax earnings from joint ventures	18.9	6.8
Net earnings, including earnings (loss) attributable to noncontrolling interests	398.1	1,204.0
Net earnings (loss) attributable to noncontrolling interests	1.1	(0.2)
Net earnings attributable to General Mills	$ 397.0	$ 1,204.2
Earnings per share – basic (usd per share)	$ 0.74	$ 2.22
Earnings per share – diluted (usd per share)	$ 0.74	$ 2.22

Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Aug. 30, 2026	Aug. 24, 2025
Cash Flows - Operating Activities
Net earnings, including earnings (loss) attributable to noncontrolling interests	$ 398.1	$ 1,204.0
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	139.8	138.7
After-tax earnings from joint ventures	(18.9)	(6.8)
Distributions of earnings from joint ventures	10.9	26.9
Stock-based compensation	21.8	15.1
Deferred income taxes	(18.0)	10.0
Pension and other postretirement benefit plan contributions	(6.6)	(5.2)
Pension and other postretirement benefit plan costs	(3.0)	(6.7)
Divestitures gain	0.0	(1,054.4)
Restructuring, transformation, impairment, and other exit costs	21.0	(2.7)
Changes in current assets and liabilities, excluding the effects of acquisitions and divestitures	(251.5)	58.8
Other, net	4.2	19.3
Net cash provided by operating activities	297.8	397.0
Cash Flows - Investing Activities
Purchases of land, buildings, and equipment	(90.5)	(109.5)
Proceeds from divestitures	0.0	1,803.4
Investments in affiliates, net	(25.4)	0.0
Proceeds from disposal of land, buildings, and equipment	0.0	2.8
Other, net	0.0	(1.9)
Net cash (used) provided by investing activities	(115.9)	1,694.8
Cash Flows - Financing Activities
Change in notes payable	132.7	(654.8)
Proceeds from common stock issued on exercised options	0.0	0.2
Purchases of common stock for treasury	0.0	(500.0)
Dividends paid	(330.5)	(330.9)
Other, net	(11.8)	(21.7)
Net cash used by financing activities	(209.6)	(1,507.2)
Effect of exchange rate changes on cash and cash equivalents	(0.2)	4.4
(Decrease) increase in cash and cash equivalents	(27.9)	589.0
Cash and cash equivalents - beginning of year (includes $37.9 million of cash classified as held for sale as of May 31, 2026)	491.7	363.9
Cash and cash equivalents - end of period (includes $30.7 million of cash classified as held for sale as of Aug. 30, 2026)	463.8	952.9
Cash Flows from changes in current assets and liabilities, excluding the effects of acquisitions and divestitures:
Receivables	(58.5)	0.9
Inventories	(261.1)	(135.2)
Prepaid expenses and other current assets	90.4	36.6
Accounts payable	(32.1)	(252.5)
Other current liabilities	9.8	409.0
Changes in current assets and liabilities	$ (251.5)	$ 58.8

Consolidated Balance Sheets - USD ($) $ in Millions	Aug. 30, 2026	May 31, 2026
Current assets:
Cash and cash equivalents	$ 433.1	$ 453.8
Receivables	1,775.2	1,646.8
Inventories	2,163.2	1,917.9
Prepaid expenses and other current assets	512.8	599.8
Total current assets	4,884.3	4,618.3
Land, buildings, and equipment	3,383.4	3,443.4
Goodwill	14,113.1	14,122.4
Other intangible assets	6,710.2	6,716.9
Other assets	1,182.4	1,115.7
Total assets	30,273.4	30,016.7
Current liabilities:
Accounts payable	3,715.2	3,729.5
Current portion of long-term debt	1,046.8	1,053.6
Notes payable	201.6	68.4
Other current liabilities	1,473.4	1,472.8
Liabilities held for sale	503.0	449.8
Total current liabilities	6,940.0	6,774.1
Long-term debt	12,367.2	12,416.0
Deferred income taxes	2,260.4	2,265.8
Other liabilities	1,242.0	1,180.2
Total liabilities	22,809.6	22,636.1
Stockholders’ equity:
Common stock, 754.6 shares issued, $0.10 par value	75.5	75.5
Additional paid-in capital	1,153.0	1,200.9
Retained earnings	20,581.4	20,514.9
Common stock in treasury, at cost, shares of 219.9 and 220.9	(11,842.6)	(11,900.6)
Accumulated other comprehensive loss	(2,516.9)	(2,522.3)
Total stockholders’ equity	7,450.4	7,368.4
Noncontrolling interests	13.4	12.2
Total equity	7,463.8	7,380.6
Total liabilities and equity	$ 30,273.4	$ 30,016.7