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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Nov. 26, 2023
Nov. 27, 2022
Nov. 26, 2023
Nov. 26, 2023
Nov. 27, 2022
Cash flows from operating activities:          
Net income $ 286.2 $ 382.2 $ 606.1 $ 606.1 $ 304.7
Adjustments to reconcile net income to net cash flows from operating activities:          
Depreciation and amortization     195.9   185.5
Asset impairment charges     50.7   413.7
Equity method investment earnings less than (in excess of) distributions     76.9   (55.6)
Stock-settled share-based payments expense     3.5   59.0
Contributions to pension plans     (6.0)   (5.9)
Pension expense (benefit)     5.5   (6.9)
Other items     24.0   (4.5)
Change in operating assets and liabilities:          
Receivables     (29.8)   (46.1)
Inventories     (61.8)   (380.9)
Deferred income taxes and income taxes payable, net     24.0   (39.4)
Prepaid expenses and other current assets     (30.6)   (13.8)
Accounts and other payables     7.7   (109.8)
Accrued payroll     (34.1)   (32.2)
Other accrued liabilities     22.6   30.0
Net cash flows from operating activities     854.6   297.8
Cash flows from investing activities:          
Additions to property, plant and equipment     (214.0)   (188.4)
Sale of property, plant and equipment     0.5   2.4
Purchase of marketable securities     (5.1)   (1.6)
Sale of marketable securities     5.1   1.6
Other items     9.6   4.1
Net cash flows from investing activities     (203.9)   (181.9)
Cash flows from financing activities:          
Issuance of short-term borrowings, maturities greater than 90 days     93.9   172.2
Repayment of short-term borrowings, maturities greater than 90 days     (99.3)   (168.8)
Net (repayment) issuance of other short-term borrowings, maturities less than or equal to 90 days     (75.8)   72.0
Issuance of long-term debt     500.0   500.0
Repayment of long-term debt     (760.6)   (265.8)
Debt issuance costs     (3.1)   (4.0)
Repurchase of Conagra Brands, Inc. common shares     0.0   (150.0)
Cash dividends paid     (324.7)   (308.6)
Exercise of stock options and issuance of other stock awards, including tax withholdings     (13.3)   (5.7)
Other items     (0.5)   1.3
Net cash flows from financing activities     (683.4)   (157.4)
Effect of exchange rate changes on cash and cash equivalents     1.6   (2.1)
Net change in cash and cash equivalents, including cash balances classified as assets held for sale     (31.1)   (43.6)
Less: Net change in cash balances classified as assets held for sale     0.7   (0.4)
Net change in cash and cash equivalents     (31.8)   (43.2)
Cash and cash equivalents at beginning of period     93.3   82.2
Cash and cash equivalents at end of period $ 61.5 $ 39.0 $ 61.5 $ 61.5 $ 39.0