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Consolidated Statements of Cash Flows (USD $)
In Millions
12 Months Ended
May 29, 2011
May 30, 2010
May 31, 2009
Cash flows from operating activities:      
Net income $ 818.8 $ 723.3 $ 979.0
Income from discontinued operations (11.5) (19.3) 363.8
Income from continuing operations 830.3 742.6 615.2
Adjustments to reconcile income from continuing operations to net cash flows from operating activities:      
Depreciation and amortization 360.9 324.1 304.9
Gain on sale of businesses   (14.3) (19.7)
Asset impairment charges 19.8 64.4 5.3
Impairment charges related to Garner accident   31.5  
Insurance recoveries recognized related to Garner accident (109.4) (58.1)  
Receipts from insurance carriers related to Garner accident 64.5 50.2  
Distributions from affiliates greater (less) than current earnings (13.1) 8.5 17.4
Share-based payments expense 44.8 55.8 45.9
Loss on retirement of debt     49.2
Proceeds from settlement of interest rate swaps 31.5    
Non-cash interest income on payment-in-kind notes   (67.9) (41.1)
Receipt of interest on payment-in-kind notes earned in prior years 102.8 6.2  
Gain on collection of payment-in-kind notes (25.0)   (3.6)
Contributions to Company pension plans (129.4) (122.6) (112.0)
Other items (including noncurrent deferred income taxes) 267.5 89.7 12.8
Change in operating assets and liabilities before effects of business acquisitions and dispositions:      
Accounts receivable 2.8 (90.1) 74.8
Inventories (190.7) 199.6 (47.0)
Prepaid expenses and other current assets 31.6 (20.0) 170.8
Accounts payable 185.0 73.9 17.5
Accrued payroll (139.2) 96.9 (61.3)
Other accrued liabilities 5.3 59.6 (49.3)
Net cash flows from operating activities - continuing operations 1,340.0 1,430.0 979.8
Net cash flows from operating activities - discontinued operations 12.3 42.7 (855.8)
Net cash flows from operating activities 1,352.3 1,472.7 124.0
Cash flows from investing activities:      
Additions to property, plant and equipment (466.2) (482.3) (428.9)
Receipts from insurance carriers related to Garner accident 18.0 34.8  
Sale of businesses   21.7 29.7
Sale of property, plant and equipment 18.9 88.4 17.7
Purchase of businesses and intangible assets (149.1) (106.5) (80.3)
Proceeds from collection of payment-in-kind notes 412.5 91.9  
Other items     1.9
Net cash flows from investing activities - continuing operations (165.9) (352.0) (459.9)
Net cash flows from investing activities - discontinued operations 254.8 (3.3) 2,251.1
Net cash flows from investing activities 88.9 (355.3) 1,791.2
Cash flows from financing activities:      
Net short-term borrowings     (578.3)
Issuance of long-term debt     1,030.1
Repayment of long-term debt (294.3) (15.8) (1,015.7)
Repurchase of ConAgra Foods common shares (825.0) (100.0) (900.0)
Cash dividends paid (374.5) (346.7) (348.2)
Return of cash to minority interest holder     (20.0)
Exercise of stock options and issuance of other stock awards 59.7 54.7 6.1
Other items 2.1 3.9 (1.1)
Net cash flows from financing activities - continuing operations (1,432.0) (403.9) (1,827.1)
Net cash flows from financing activities - discontinued operations (0.1) (0.6) 0.1
Net cash flows from financing activities (1,432.1) (404.5) (1,827.0)
Effect of exchange rate changes on cash and cash equivalents 10.1 (2.9) (16.7)
Net change in cash and cash equivalents 19.2 710.0 71.5
Discontinued operations cash activity included above:      
Add: Cash balance included in assets held for sale at beginning of year 0 0 30.8
Less: Cash balance included in assets held for sale at end of year 0 0  
Cash and cash equivalents at beginning of year 953.2 243.2 140.9
Cash and cash equivalents at end of year $ 972.4 $ 953.2 $ 243.2