BUSINESS SEGMENTS AND RELATED INFORMATION (Tables)

3 Months Ended

Aug. 30, 2020

Segment Reporting [Abstract]

Schedule of Segment Operations

General corporate expense, net interest expense, and income taxes have been excluded from segment operations.

	Thirteen weeks ended
	August 30, 2020			August 25, 2019
Net sales
Grocery & Snacks	$	1,134.2		$	977.6
Refrigerated & Frozen		1,130.6			959.1
International		219.0			204.4
Foodservice		195.1			249.6
Total net sales	$	2,678.9		$	2,390.7
Operating profit
Grocery & Snacks	$	283.6		$	151.7
Refrigerated & Frozen		240.1			155.6
International		38.5			24.8
Foodservice		24.9			31.1
Total operating profit	$	587.1		$	363.2
Equity method investment earnings		6.5			12.3
General corporate expense		77.2			99.5
Pension and postretirement non-service income		(13.8	)		(9.5	)
Interest expense, net		113.7			122.7
Income tax expense (benefit)		86.7			(11.5	)
Net income	$	329.8		$	174.3
Less: Net income attributable to noncontrolling interests		0.8			0.5
Net income attributable to Conagra Brands, Inc.	$	329.0		$	173.8

The following table presents further disaggregation of our net sales:

	Thirteen weeks ended
	August 30, 2020		August 25, 2019
Frozen		935.6		792.7
Other shelf-stable		715.9		601.4
Snacks		418.3		376.2
Foodservice		195.1		249.6
International		219.0		204.4
Refrigerated		195.0		166.4
Total net sales	$	2,678.9	$	2,390.7

Schedule of Net Derivative Gains (Losses) from Economic Hedges of Forecasted Commodity Consumption and Foreign Currency Risk

The following table presents the net derivative gains (losses) from economic hedges of forecasted commodity consumption and the foreign currency risk of certain forecasted transactions, under this methodology:

	Thirteen weeks ended
	August 30, 2020			August 25, 2019
Gross derivative losses incurred	$	(4.0	)	$	(7.3	)
Less: Net derivative losses allocated to reporting segments		(1.5	)		(0.1	)
Net derivative losses recognized in general corporate expenses	$	(2.5	)	$	(7.2	)
Net derivative losses allocated to Grocery & Snacks	$	(1.8	)	$	(0.1	)
Net derivative losses allocated to Refrigerated & Frozen		(1.1	)		(0.3	)
Net derivative gains allocated to International		1.6			0.1
Net derivative gains (losses) allocated to Foodservice		(0.2	)		0.2
Net derivative losses included in segment operating profit	$	(1.5	)	$	(0.1	)