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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Nov. 26, 2017
Nov. 27, 2016
Cash flows from operating activities:    
Net income $ 377.8 $ 315.9
Income from discontinued operations 0.1 103.0
Income from continuing operations 377.7 212.9
Adjustments to reconcile income from continuing operations to net cash flows from operating activities:    
Depreciation and amortization 129.0 133.5
Asset impairment charges 8.8 211.9
Gain on divestitures 0.0 (197.5)
Loss on extinguishment of debt 0.0 60.6
Earnings of affiliates in excess of distributions (50.6) (23.4)
Stock-settled share-based payments expense 17.7 18.3
Contributions to pension plans (6.1) (5.9)
Pension benefit (21.5) (20.6)
Other items 3.8 23.9
Change in operating assets and liabilities excluding effects of business acquisitions and dispositions:    
Receivables (109.8) (49.2)
Inventories (130.5) (32.2)
Deferred income taxes and income taxes payable, net 95.3 183.5
Prepaid expenses and other current assets 0.1 0.2
Accounts payable 132.3 71.7
Accrued payroll (39.7) (95.5)
Other accrued liabilities (1.8) (31.6)
Net cash flows from operating activities — continuing operations 404.7 460.6
Net cash flows from operating activities — discontinued operations 16.0 81.6
Net cash flows from operating activities 420.7 542.2
Cash flows from investing activities:    
Additions to property, plant and equipment (123.4) (118.3)
Sale of property, plant and equipment 6.9 11.3
Proceeds from divestitures 0.0 489.1
Purchase of businesses (249.6) (108.2)
Net cash flows from investing activities — continuing operations (366.1) 273.9
Net cash flows from investing activities — discontinued operations 0.0 (123.7)
Net cash flows from investing activities (366.1) 150.2
Cash flows from financing activities:    
Net short-term borrowings 38.9 (7.2)
Issuance of long-term debt, net of debt issuance costs 497.4 0.0
Repayment of long-term debt (4.8) (555.8)
Payment of intangible asset financing arrangement (14.4) (14.9)
Repurchase of Conagra Brands, Inc. common shares (580.0) (170.1)
Cash dividends paid (171.6) (219.4)
Exercise of stock options and issuance of other stock awards, including tax withholdings 4.0 47.4
Net cash flows from financing activities — continuing operations (230.5) (920.0)
Net cash flows from financing activities — discontinued operations 0.0 839.1
Net cash flows from financing activities (230.5) (80.9)
Effect of exchange rate changes on cash and cash equivalents 8.5 (3.5)
Net change in cash and cash equivalents (167.4) 608.0
Add: Cash balance included in assets held for sale and discontinued operations at beginning of period 0.0 36.4
Less: Cash balance included in assets held for sale and discontinued operations at end of period 0.0 0.0
Cash and cash equivalents at beginning of period 251.4 798.1
Cash and cash equivalents at end of period $ 84.0 $ 1,442.5