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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
9 Months Ended
Feb. 25, 2018
Feb. 26, 2017
Cash flows from operating activities:    
Net income $ 741.5 $ 496.1
Income from discontinued operations 14.6 103.7
Income from continuing operations 726.9 392.4
Adjustments to reconcile income from continuing operations to net cash flows from operating activities:    
Depreciation and amortization 193.4 199.8
Asset impairment charges 9.4 221.9
Gain on divestitures 0.0 (197.4)
Loss on extinguishment of debt 0.0 93.3
Earnings of affiliates in excess of distributions (53.1) (21.6)
Stock-settled share-based payments expense 26.7 28.1
Contributions to pension plans (9.7) (9.8)
Pension benefit (38.7) (16.2)
Lease cancellation expense 48.2 0.0
Other items (31.0) 25.5
Change in operating assets and liabilities excluding effects of business acquisitions and dispositions:    
Receivables (25.8) 49.5
Inventories (89.8) 35.0
Deferred income taxes and income taxes payable, net (10.2) 135.6
Prepaid expenses and other current assets (5.5) 8.2
Accounts payable 101.2 13.3
Accrued payroll (30.9) (71.5)
Other accrued liabilities (3.0) (82.6)
Net cash flows from operating activities — continuing operations 808.1 803.5
Net cash flows from operating activities — discontinued operations 34.2 43.0
Net cash flows from operating activities 842.3 846.5
Cash flows from investing activities:    
Additions to property, plant and equipment (175.9) (158.5)
Sale of property, plant and equipment 7.5 12.5
Proceeds from divestitures 0.0 489.0
Purchase of businesses (337.1) (108.1)
Other items 4.3 0.0
Net cash flows from investing activities — continuing operations (501.2) 234.9
Net cash flows from investing activities — discontinued operations 0.0 (123.7)
Net cash flows from investing activities (501.2) 111.2
Cash flows from financing activities:    
Net short-term borrowings 324.1 (10.1)
Issuance of long-term debt, net of debt issuance costs 497.1 0.0
Repayment of long-term debt (170.1) (1,062.3)
Payment of intangible asset financing arrangement (14.4) (14.9)
Repurchase of Conagra Brands, Inc. common shares (860.0) (594.6)
Cash dividends paid (257.7) (328.9)
Exercise of stock options and issuance of other stock awards, including tax withholdings 13.0 66.6
Other items 0.0 (1.9)
Net cash flows from financing activities — continuing operations (468.0) (1,946.1)
Net cash flows from financing activities — discontinued operations 0.0 839.1
Net cash flows from financing activities (468.0) (1,107.0)
Effect of exchange rate changes on cash and cash equivalents 8.4 (1.6)
Net change in cash and cash equivalents (118.5) (150.9)
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 $ 132.9 $ 683.6