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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
May 26, 2019
May 27, 2018
May 28, 2017
Cash flows from operating activities:      
Net income $ 678.4 $ 811.8 $ 648.0
Income (loss) from discontinued operations (1.9) 14.3 102.0
Income from continuing operations 680.3 797.5 546.0
Adjustments to reconcile income from continuing operations to net cash flows from operating activities:      
Depreciation and amortization 333.0 257.0 268.0
Asset impairment charges 93.8 14.7 343.3
Gain on divestitures (69.4) 0.0 (197.4)
Lease cancellation expense 0.0 48.2 0.0
Loss on extinguishment of debt 5.5 0.0 93.3
Significant litigation accruals (39.3) 151.0 0.0
Proceeds from the settlement of interest rate swaps 47.5 0.0 0.0
Novation of a legacy guarantee (27.3) 0.0 0.0
Earnings of affiliates in excess of distributions (20.8) (34.8) (3.0)
Stock-settled share-based payments expense 33.7 37.9 36.1
Contributions to pension plans (14.7) (312.6) (163.0)
Pension benefit (22.7) (56.1) (21.4)
Other items 12.3 (34.0) 34.6
Change in operating assets and liabilities excluding effects of business acquisitions and dispositions:      
Receivables (69.1) (4.7) 104.7
Inventories 78.0 (62.8) 123.3
Deferred income taxes and income taxes payable, net 83.7 10.5 52.3
Prepaid expenses and other current assets (19.1) 3.2 15.0
Accounts payable 38.2 144.9 71.0
Accrued payroll 0.1 (8.0) (52.4)
Other accrued liabilities (9.4) (32.2) (114.9)
Net cash flows from operating activities - continuing operations 1,114.3 919.7 1,135.5
Net cash flows from operating activities - discontinued operations 11.2 34.5 34.7
Net cash flows from operating activities 1,125.5 954.2 1,170.2
Cash flows from investing activities:      
Additions to property, plant and equipment (353.1) (251.6) (242.1)
Sale of property, plant and equipment 22.5 8.0 13.2
Purchase of business, net of cash acquired (5,119.2) (337.1) (325.7)
Proceeds from divestitures, net of cash divested 281.5 0.0 489.0
Purchase of marketable securities (61.0) 0.0 0.0
Sales of marketable securities 52.2 0.0 0.0
Other items 11.1 4.5 5.3
Net cash flows from investing activities - continuing operations (5,166.0) (576.2) (60.3)
Net cash flows from investing activities - discontinued operations 0.0 0.0 (123.7)
Net cash flows from investing activities (5,166.0) (576.2) (184.0)
Cash flows from financing activities:      
Net short-term borrowings (repayments) (277.3) 249.1 14.3
Issuance of long-term debt 8,310.5 800.0 0.0
Repayment of long-term debt (3,972.7) (242.3) (1,064.5)
Debt issuance costs and bridge financing fees (95.2) (3.0) 0.0
Payment of intangible asset financing arrangement (14.0) (14.4) (14.9)
Issuance of Conagra Brands, Inc. common shares, net 555.7 0.0 0.0
Repurchase of Conagra Brands, Inc. common shares 0.0 (967.3) (1,000.0)
Cash dividends paid (356.2) (342.3) (415.0)
Exercise of stock options and issuance of other stock awards, including tax withholdings (1.6)    
Exercise of stock options and issuance of other stock awards, including tax withholdings   14.9 73.8
Other items 0.6 (1.6) (1.9)
Net cash flows from financing activities - continuing operations 4,149.8 (506.9) (2,408.2)
Net cash flows from financing activities - discontinued operations 0.0 0.0 839.1
Net cash flows from financing activities 4,149.8 (506.9) (1,569.1)
Effect of exchange rate changes on cash and cash equivalents and restricted cash (0.7) 5.5 (0.2)
Net change in cash and cash equivalents and restricted cash 108.6 (123.4) (583.1)
Add: Cash balance included in assets held for sale and discontinued operations at beginning of period 0.0 0.0 36.4
Less: Cash balance included in assets held for sale and discontinued operations at end of period 0.0 0.0 0.0
Cash and cash equivalents and restricted cash at beginning of year 129.0 252.4 799.1
Cash and cash equivalents and restricted cash at end of year $ 237.6 $ 129.0 $ 252.4