BUSINESS SEGMENTS AND RELATED INFORMATION (Tables)

6 Months Ended

Nov. 29, 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						Twenty-six weeks ended
	November 29, 2020			November 24, 2019			November 29, 2020			November 24, 2019
Net sales
Grocery & Snacks	$	1,285.3		$	1,142.5		$	2,419.5		$	2,120.1
Refrigerated & Frozen		1,248.0			1,168.3			2,378.6			2,127.4
International		249.8			234.3			468.8			438.7
Foodservice		212.1			275.7			407.2			525.3
Total net sales	$	2,995.2		$	2,820.8		$	5,674.1		$	5,211.5
Operating profit
Grocery & Snacks	$	316.4		$	263.7		$	600.0		$	415.4
Refrigerated & Frozen		264.3			187.4			504.4			343.0
International		39.5			26.4			78.0			51.2
Foodservice		22.3			38.3			47.2			69.4
Total operating profit	$	642.5		$	515.8		$	1,229.6		$	879.0
Equity method investment earnings		23.0			27.6			29.5			39.9
General corporate expense		111.3			87.7			188.5			187.2
Pension and postretirement non-service income		(13.7	)		(11.3	)		(27.5	)		(20.8	)
Interest expense, net		107.7			121.4			221.4			244.1
Income tax expense		80.7			84.1			167.4			72.6
Net income	$	379.5		$	261.5		$	709.3		$	435.8
Less: Net income attributable to noncontrolling interests		0.6			1.0			1.4			1.5
Net income attributable to Conagra Brands, Inc.	$	378.9		$	260.5		$	707.9		$	434.3

The following table presents further disaggregation of our net sales:

	Thirteen weeks ended				Twenty-six weeks ended
	November 29, 2020		November 24, 2019		November 29, 2020		November 24, 2019
Frozen	$	1,020.3	$	958.9	$	1,938.7	$	1,728.2
Other shelf-stable		793.3		680.5		1,509.2		1,281.9
Snacks		492.0		462.0		910.3		838.2
Foodservice		212.1		275.7		407.2		525.3
International		249.8		234.3		468.8		438.7
Refrigerated		227.7		209.4		439.9		399.2
Total net sales	$	2,995.2	$	2,820.8	$	5,674.1	$	5,211.5

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						Twenty-six weeks ended
	November 29, 2020			November 24, 2019			November 29, 2020			November 24, 2019
Gross derivative gains (losses) incurred	$	0.1		$	0.5		$	(3.9	)	$	(6.8	)
Less: Net derivative losses allocated to reporting segments		(3.2	)		(1.3	)		(4.7	)		(1.4	)
Net derivative gains (losses) recognized in general corporate expenses	$	3.3		$	1.8		$	0.8		$	(5.4	)
Net derivative losses allocated to Grocery & Snacks	$	(2.6	)	$	(0.5	)	$	(4.4	)	$	(0.6	)
Net derivative losses allocated to Refrigerated & Frozen		(0.9	)		(0.4	)		(2.0	)		(0.7	)
Net derivative gains (losses) allocated to International		0.8			(0.4	)		2.4			(0.3	)
Net derivative gains (losses) allocated to Foodservice		(0.5	)		—			(0.7	)		0.2
Net derivative losses included in segment operating profit	$	(3.2	)	$	(1.3	)	$	(4.7	)	$	(1.4	)