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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Aug. 25, 2024
Aug. 27, 2023
Cash flows from operating activities:    
Net income $ 466.9 $ 319.9
Adjustments to reconcile net income to net cash flows from operating activities:    
Depreciation and amortization 99.1 96.6
Asset impairment charges 0.1 15.2
Equity method investment earnings in excess of distributions (5.2) (6.7)
Stock-settled share-based payments expense (benefit) 20.6 (2.7)
Contributions to pension plans (2.9) (3.1)
Pension expense (benefit) (0.8) 2.8
Other items 11.6 10.5
Change in operating assets and liabilities excluding effects of business acquisitions and dispositions:    
Receivables (60.1) (11.1)
Inventories (112.5) (161.8)
Deferred income taxes and income taxes payable, net (165.9) 90.6
Prepaid expenses and other current assets (43.0) (35.6)
Accounts and other payables 67.7 81.4
Accrued payroll (83.7) (49.0)
Other accrued liabilities 84.4 95.4
Litigation accruals (7.7) 1.1
Net cash flows from operating activities 268.6 443.5
Cash flows from investing activities:    
Additions to property, plant and equipment (133.0) (143.6)
Sale of property, plant and equipment 0.3 0.2
Purchase of marketable securities   (0.7)
Sale of marketable securities   0.7
Purchase of business, net of cash acquired (230.4)  
Proceeds from divestitures, net of cash divested 76.8  
Other items   5.0
Net cash flows from investing activities (286.3) (138.4)
Cash flows from financing activities:    
Issuance of short-term borrowings, maturities greater than 90 days 35.1 43.5
Repayment of short-term borrowings, maturities greater than 90 days (35.3) (54.8)
Net issuance (repayment) of other short-term borrowings, maturities less than or equal to 90 days 336.4 (117.0)
Issuance of long-term debt   500.0
Repayment of long-term debt (14.9) (504.3)
Debt issuance costs   (2.8)
Repurchase of Conagra Brands, Inc. common shares (64.0)  
Cash dividends paid (167.3) (157.4)
Exercise of stock options and issuance of other stock awards, including tax withholdings (19.8) (13.7)
Other items (0.1) (0.6)
Net cash flows from financing activities 70.1 (307.1)
Effect of exchange rate changes on cash and cash equivalents (2.7) 1.4
Net change in cash and cash equivalents, including cash balances classified as assets held for sale 49.7 (0.6)
Less: Net change in cash balances classified as assets held for sale (1.3) 1.0
Net change in cash and cash equivalents 51.0 (1.6)
Cash and cash equivalents at beginning of period 77.7 93.3
Cash and cash equivalents at end of period $ 128.7 $ 91.7