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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
May 29, 2022
May 30, 2021
May 31, 2020
Cash flows from operating activities:      
Net income $ 888.2 $ 1,300.9 $ 841.8
Adjustments to reconcile income from continuing operations to net cash flows from operating activities:      
Depreciation and amortization 375.4 387.7 388.9
Asset impairment charges 284.8 95.5 259.9
Loss (gain) on divestitures 0.0 (65.5) 2.2
Loss on extinguishment of debt 0.0 68.7 1.0
Equity method investment earnings in excess of distributions (66.3) (27.9) (21.8)
Stock-settled share-based payments expense 26.1 63.9 59.2
Contributions to pension plans (11.5) (27.6) (17.5)
Other items (46.6) 9.1 10.3
Change in operating assets and liabilities excluding effects of business acquisitions and dispositions:      
Receivables (69.5) 66.1 (43.8)
Inventories (232.8) (364.3) 163.5
Deferred income taxes and income taxes payable, net (8.7) (92.5) 23.1
Prepaid expenses and other current assets (10.1) (8.5) (13.6)
Accounts payable 223.6 141.4 234.4
Accrued payroll (23.5) (14.3) 15.9
Other accrued liabilities (71.9) (60.2) (66.8)
Deferred employer payroll taxes (25.5) 33.9 0.0
Net cash flows from operating activities 1,177.3 1,468.1 1,842.6
Cash flows from investing activities:      
Additions to property, plant and equipment (464.4) (506.4) (369.5)
Sale of property, plant and equipment 20.2 2.5 14.0
Proceeds from divestitures, net of cash divested 0.1 160.9 194.6
Purchase of marketable securities (4.5) (11.8) (46.8)
Sales of marketable securities 10.4 14.5 53.8
Other items 3.3 0.0 0.1
Net cash flows from investing activities (434.9) (340.3) (153.8)
Cash flows from financing activities:      
Issuances of commercial paper, maturities greater than 90 days 392.6 298.6 0.0
Repayments of commercial paper, maturities greater than 90 days (392.6) (298.6) 0.0
Net issuances (repayments) of other short-term borrowings (523.1) 706.3 0.1
Issuance of long-term debt 499.1 988.2 0.0
Repayment of long-term debt (48.5) (2,514.5) (947.5)
Debt issuance costs (2.5) (6.2) 0.0
Payment of intangible asset financing arrangement (12.6) (12.9) (13.6)
Repurchase of Conagra Brands, Inc. common shares (50.0) (298.1) 0.0
Cash dividends paid (581.8) (474.6) (413.6)
Exercise of stock options and issuance of other stock awards, including tax withholdings (11.3) (0.1) 4.8
Other items (7.3) 2.3 (0.6)
Net cash flows from financing activities (738.0) (1,609.6) (1,370.4)
Effect of exchange rate changes on cash and cash equivalents and restricted cash (1.3) 7.7 (1.7)
Net change in cash and cash equivalents and restricted cash 3.1 (474.1) 316.7
Cash and cash equivalents and restricted cash at beginning of year 80.2 554.3 237.6
Cash and cash equivalents and restricted cash at end of year 83.3 80.2 554.3
Company Plans [Member]      
Adjustments to reconcile income from continuing operations to net cash flows from operating activities:      
Pension expense (benefit) $ (54.4) $ (38.3) $ 5.9