RESTRUCTURING ACTIVITIES (Tables)

9 Months Ended

Feb. 23, 2020

Pinnacle Integration Restructuring Plan

Schedule of Pre-Tax Expenses in Association with the Restructuring Plan

We anticipate that we will recognize the following pre-tax expenses in association with the Pinnacle Integration Restructuring Plan (amounts include charges recognized from plan inception through the third quarter of fiscal 2020):

	Grocery & Snacks		Refrigerated & Frozen		International		Corporate		Total
Accelerated depreciation	$	0.7	$	5.5	$	—	$	—	$	6.2
Other cost of goods sold		17.9		9.3		0.7		—		27.9
Total cost of goods sold		18.6		14.8		0.7		—		34.1
Severance and related costs		—		4.3		1.5		114.8		120.6
Asset impairment (net of gains on disposal)		54.6		8.3		—		2.9		65.8
Accelerated depreciation		—		—		—		7.4		7.4
Contract/lease termination		1.4		0.2		0.8		17.6		20.0
Consulting/professional fees		—		—		0.8		82.3		83.1
Other selling, general and administrative expenses		1.0		1.0		0.1		30.7		32.8
Total selling, general and administrative expenses		57.0		13.8		3.2		255.7		329.7
Consolidated total	$	75.6	$	28.6	$	3.9	$	255.7	$	363.8

During the third quarter of fiscal 2020, we recognized the following pre-tax expenses for the Pinnacle Integration Restructuring Plan:

	Grocery & Snacks		Refrigerated & Frozen		Corporate			Total
Accelerated depreciation	$	0.5	$	0.9	$	—		$	1.4
Total cost of goods sold		0.5		0.9		—			1.4
Severance and related costs		—		4.3		(0.4	)		3.9
Asset impairment (net of gains on disposal)		—		3.8		—			3.8
Accelerated depreciation		—		—		0.3			0.3
Contract/lease termination		—		—		2.9			2.9
Consulting/professional fees		—		—		6.3			6.3
Other selling, general and administrative expenses		—		—		1.0			1.0
Total selling, general and administrative expenses		—		8.1		10.1			18.2
Consolidated total	$	0.5	$	9.0	$	10.1		$	19.6

Included in the above results are $12.7 million of charges that have resulted or will result in cash outflows and $6.9 million in non-cash charges.

During the first three quarters of fiscal 2020, we recognized the following pre-tax expenses for the Pinnacle Integration Restructuring Plan:

	Grocery & Snacks		Refrigerated & Frozen		International		Corporate		Total
Accelerated depreciation	$	0.5	$	1.4	$	—	$	—	$	1.9
Other cost of goods sold		0.1		—		—		—		0.1
Total cost of goods sold		0.6		1.4		—		—		2.0
Severance and related costs		—		4.3		0.2		4.0		8.5
Asset impairment (net of gains on disposal)		0.2		3.8		—		2.9		6.9
Accelerated depreciation		—		—		—		2.7		2.7
Contract/lease termination		—		—		—		14.7		14.7
Consulting/professional fees		—		—		0.6		21.6		22.2
Other selling, general and administrative expenses		—		—		—		6.5		6.5
Total selling, general and administrative expenses		0.2		8.1		0.8		52.4		61.5
Consolidated total	$	0.8	$	9.5	$	0.8	$	52.4	$	63.5

Included in the above results are $41.8 million of charges that have resulted or will result in cash outflows and $21.7 million in non-cash charges.

We recognized the following cumulative (plan inception to February 23, 2020) pre-tax expenses for the Pinnacle Integration Restructuring Plan related to our continuing operations in our Condensed Consolidated Statement of Operations:

	Grocery & Snacks		Refrigerated & Frozen		International		Corporate		Total
Accelerated depreciation	$	0.5	$	1.4	$	—	$	—	$	1.9
Other cost of goods sold		1.6		1.5		0.7		—		3.8
Total cost of goods sold		2.1		2.9		0.7		—		5.7
Severance and related costs		—		4.3		1.5		114.8		120.6
Asset impairment (net of gains on disposal)		0.2		3.8		—		2.9		6.9
Accelerated depreciation		—		—		—		7.4		7.4
Contract/lease termination		—		—		0.8		15.0		15.8
Consulting/professional fees		—		—		0.8		59.7		60.5
Other selling, general and administrative expenses		—		—		0.1		14.7		14.8
Total selling, general and administrative expenses		0.2		8.1		3.2		214.5		226.0
Consolidated total	$	2.3	$	11.0	$	3.9	$	214.5	$	231.7

Schedule of Liabilities Recorded for the Restructuring Plan

Liabilities recorded for the Pinnacle Integration Restructuring Plan and changes therein for the first three quarters of fiscal 2020 were as follows:

	Balance at May 26, 2019		Costs Incurred and Charged to Expense		Costs Paid or Otherwise Settled			Changes in Estimates			Balance at February 23, 2020
Severance and related costs	$	76.9	$	10.4	$	(52.6	)	$	(1.9	)	$	32.8
Contract termination		1.0		4.6		(3.9	)		—			1.7
Consulting/professional fees		18.4		22.2		(34.6	)		—			6.0
Other costs		1.2		6.5		(7.7	)		—			—
Total	$	97.5	$	43.7	$	(98.8	)	$	(1.9	)	$	40.5

Conagra Restructuring Plan

Schedule of Pre-Tax Expenses in Association with the Restructuring Plan

We anticipate that we will recognize the following pre-tax expenses in association with the Conagra Restructuring Plan (amounts include charges recognized from plan inception through the third quarter of fiscal 2020):

	Grocery & Snacks		Refrigerated & Frozen		International		Corporate		Total
Accelerated depreciation	$	40.2	$	20.1	$	—	$	—	$	60.3
Other cost of goods sold		9.0		1.0		—		—		10.0
Total cost of goods sold		49.2		21.1		—		—		70.3
Severance and related costs		11.1		3.5		1.2		0.2		16.0
Asset impairment (net of gains on disposal)		25.0		0.2		0.1		—		25.3
Contract/lease termination		0.2		—		—		0.1		0.3
Other selling, general and administrative expenses		12.0		1.9		0.3		—		14.2
Total selling, general and administrative expenses		48.3		5.6		1.6		0.3		55.8
Total	$	97.5	$	26.7	$	1.6	$	0.3	$	126.1
Pension and postretirement non-service income										0.6
Consolidated total									$	126.7

During the third quarter of fiscal 2020, we recognized the following pre-tax expenses for the Conagra Restructuring Plan:

	Grocery & Snacks		Refrigerated & Frozen		Total
Accelerated depreciation	$	8.3	$	—	$	8.3
Other cost of goods sold		1.2		—		1.2
Total cost of goods sold		9.5		—		9.5
Severance and related costs		0.3		1.2		1.5
Asset impairment (net of gains on disposal)		0.5		0.2		0.7
Other selling, general and administrative expenses		0.1		0.1		0.2
Total selling, general and administrative expenses		0.9		1.5		2.4
Total	$	10.4	$	1.5	$	11.9

Included in the above results are $2.8 million in charges that have resulted or will result in cash outflows and $9.1 million in non-cash charges.

During the first three quarters of fiscal 2020, we recognized the following pre-tax expenses for the Conagra Restructuring Plan:

	Grocery & Snacks		Refrigerated & Frozen		International		Corporate		Total
Accelerated depreciation	$	18.7	$	0.9	$	—	$	—	$	19.6
Other cost of goods sold		1.2		0.2		—		—		1.4
Total cost of goods sold		19.9		1.1		—		—		21.0
Severance and related costs		3.3		1.3		0.5		—		5.1
Asset impairment (net of gains on disposal)		25.0		0.2		0.1		—		25.3
Contract/lease termination		—		—		—		0.1		0.1
Other selling, general and administrative expenses		0.3		0.2		—		—		0.5
Total selling, general and administrative expenses		28.6		1.7		0.6		0.1		31.0
Total	$	48.5	$	2.8	$	0.6	$	0.1	$	52.0
Pension and postretirement non-service income										0.6
Consolidated total									$	52.6

Included in the above results are $7.5 million of charges that have resulted or will result in cash outflows and $45.1 million in non-cash charges.

We recognized the following cumulative (plan inception to February 23, 2020) pre-tax expenses for the Conagra Restructuring Plan related to our continuing operations in our Condensed Consolidated Statement of Operations:

	Grocery & Snacks		Refrigerated & Frozen		International		Corporate		Total
Accelerated depreciation	$	18.7	$	1.7	$	—	$	—	$	20.4
Other cost of goods sold		1.2		0.2		—		—		1.4
Total cost of goods sold		19.9		1.9		—		—		21.8
Severance and related costs		3.3		1.8		1.2		0.2		6.5
Asset impairment (net of gains on disposal)		25.0		0.2		0.1		—		25.3
Contract/lease termination		—		—		—		0.1		0.1
Other selling, general and administrative expenses		0.3		0.2		—		—		0.5
Total selling, general and administrative expenses		28.6		2.2		1.3		0.3		32.4
Total	$	48.5	$	4.1	$	1.3	$	0.3	$	54.2
Pension and postretirement non-service income										0.6
Consolidated total									$	54.8

Schedule of Liabilities Recorded for the Restructuring Plan

Liabilities recorded for the Conagra Restructuring Plan and changes therein for the first three quarters of fiscal 2020 were as follows:

	Balance at May 26, 2019		Costs Incurred and Charged to Expense		Costs Paid or Otherwise Settled			Changes in Estimates			Balance at February 23, 2020
Severance and related costs	$	1.2	$	5.6	$	(1.5	)	$	(0.5	)	$	4.8
Contract termination		—		0.1		(0.1	)		—			—
Other costs		—		1.7		(1.7	)		—			—
Total	$	1.2	$	7.4	$	(3.3	)	$	(0.5	)	$	4.8