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Consolidated Statements of Cash Flows (USD $)
In Millions, unless otherwise specified
12 Months Ended
May 27, 2012
May 29, 2011
May 30, 2010
Cash flows from operating activities:      
Net income $ 474.4 $ 819.4 $ 611.0
Income (loss) from discontinued operations 0.1 (11.5) (19.3)
Income from continuing operations 474.3 830.9 630.3
Adjustments to reconcile income from continuing operations to net cash flows from operating activities:      
Depreciation and amortization 371.8 360.9 324.1
Gain on sale of businesses     (14.3)
Gain on acquisition of controlling interest in Agro Tech Foods Ltd. (58.7)    
Asset impairment charges 8.6 19.8 64.4
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
Earnings of affiliates less than (in excess of) distributions (17.6) (13.1) 8.5
Share-based payments expense 41.8 44.8 55.8
Proceeds from settlement of interest rate swaps   31.5  
Pension expense 421.8 54.0 227.4
Contributions to Company pension plans (326.4) (129.4) (122.6)
Non-cash interest income on payment-in-kind notes     (67.9)
Receipt of interest on payment-in-kind notes earned in prior years   102.8 6.2
Gain on collection of payment-in-kind note   (25.0)  
Other items (including noncurrent deferred income taxes) (11.3) 212.9 (25.4)
Change in operating assets and liabilities excluding effects of business acquisitions and dispositions:      
Accounts receivable (4.3) 2.8 (90.1)
Inventories 14.9 (190.7) 199.6
Prepaid expenses and other current assets 7.5 31.6 (20.0)
Accounts payable 82.1 185.0 73.9
Accrued payroll 48.4 (139.2) 96.9
Other accrued liabilities (3.2) 5.3 59.6
Net cash flows from operating activities - continuing operations 1,049.7 1,340.0 1,430.0
Net cash flows from operating activities - discontinued operations 2.3 12.3 42.7
Net cash flows from operating activities 1,052.0 1,352.3 1,472.7
Cash flows from investing activities:      
Additions to property, plant and equipment (336.7) (466.2) (482.3)
Purchase of businesses, net of cash acquired (635.2) (131.1) (103.5)
Receipts from insurance carriers related to Garner accident   18.0 34.8
Purchase of secured loan (39.6)    
Sale of property, plant and equipment 9.7 18.9 88.4
Purchase of intangible assets (62.5) (18.0) (3.0)
Proceeds from collection of payment-in-kind notes   412.5 91.9
Sale of businesses     21.7
Net cash flows from investing activities - continuing operations (1,064.3) (165.9) (352.0)
Net cash flows from investing activities - discontinued operations   254.8 (3.3)
Net cash flows from investing activities (1,064.3) 88.9 (355.3)
Cash flows from financing activities:      
Net short-term borrowings 40.0    
Repayment of long-term debt (363.6) (294.3) (15.8)
Repurchase of ConAgra Foods common shares (352.4) (825.0) (100.0)
Cash dividends paid (388.6) (374.5) (346.7)
Exercise of stock options and issuance of other stock awards 213.2 59.7 54.7
Other items 1.8 2.1 3.9
Net cash flows from financing activities - continuing operations (849.6) (1,432.0) (403.9)
Net cash flows from financing activities - discontinued operations   (0.1) (0.6)
Net cash flows from financing activities (849.6) (1,432.1) (404.5)
Effect of exchange rate changes on cash and cash equivalents (7.5) 10.1 (2.9)
Net change in cash and cash equivalents (869.4) 19.2 710.0
Cash and cash equivalents at beginning of Year 972.4 953.2 243.2
Cash and cash equivalents at end of Year $ 103.0 $ 972.4 $ 953.2