BUSINESS SEGMENTS AND RELATED INFORMATION (Tables)

9 Months Ended

Feb. 28, 2021

Segment Reporting [Abstract]

Schedule of Segment Operations

General corporate expense, pension and postretirement non-service income, interest expense, net, income taxes, and equity method investment earnings have been excluded from segment operations.

	Thirteen weeks ended						Thirty-nine weeks ended
	February 28, 2021			February 23, 2020			February 28, 2021			February 23, 2020
Net sales
Grocery & Snacks	$	1,133.1		$	1,022.9		$	3,552.6		$	3,143.0
Refrigerated & Frozen		1,203.1			1,076.8			3,581.7			3,204.2
International		240.9			220.9			709.7			659.6
Foodservice		194.0			234.4			601.2			759.7
Total net sales	$	2,771.1		$	2,555.0		$	8,445.2		$	7,766.5
Operating profit
Grocery & Snacks	$	290.2		$	199.4		$	890.2		$	614.8
Refrigerated & Frozen		214.6			190.7			719.0			533.7
International		27.8			22.3			105.8			73.5
Foodservice		12.8			27.2			60.0			96.6
Total operating profit	$	545.4		$	439.6		$	1,775.0		$	1,318.6
Equity method investment earnings		21.5			10.4			51.0			50.3
General corporate expense		96.7			75.1			285.2			262.3
Pension and postretirement non-service income		(13.7	)		(16.4	)		(41.2	)		(37.2	)
Interest expense, net		100.6			117.7			322.0			361.8
Income tax expense		101.6			68.9			269.0			141.5
Net income	$	281.7		$	204.7		$	991.0		$	640.5
Less: Net income attributable to noncontrolling interests		0.3			0.3			1.7			1.8
Net income attributable to Conagra Brands, Inc.	$	281.4		$	204.4		$	989.3		$	638.7

The following table presents further disaggregation of our net sales:

	Thirteen weeks ended				Thirty-nine weeks ended
	February 28, 2021		February 23, 2020		February 28, 2021		February 23, 2020
Frozen	$	1,013.2	$	907.4	$	2,951.9	$	2,635.6
Other shelf-stable		698.7		639.1		2,207.9		1,921.0
Snacks		434.4		383.8		1,344.7		1,222.0
Foodservice		194.0		234.4		601.2		759.7
International		240.9		220.9		709.7		659.6
Refrigerated		189.9		169.4		629.8		568.6
Total net sales	$	2,771.1	$	2,555.0	$	8,445.2	$	7,766.5

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						Thirty-nine weeks ended
	February 28, 2021			February 23, 2020			February 28, 2021			February 23, 2020
Gross derivative gains (losses) incurred	$	5.3		$	(5.7	)	$	1.4		$	(12.5	)
Less: Net derivative losses allocated to reporting segments		(1.1	)		(1.9	)		(5.8	)		(3.3	)
Net derivative gains (losses) recognized in general corporate expenses	$	6.4		$	(3.8	)	$	7.2		$	(9.2	)
Net derivative gains (losses) allocated to Grocery & Snacks	$	0.3		$	(0.9	)	$	(4.1	)	$	(1.5	)
Net derivative losses allocated to Refrigerated & Frozen		(0.1	)		—			(2.1	)		(0.7	)
Net derivative gains (losses) allocated to International		(1.3	)		(0.8	)		1.1			(1.1	)
Net derivative losses allocated to Foodservice		—			(0.2	)		(0.7	)		—
Net derivative losses included in segment operating profit	$	(1.1	)	$	(1.9	)	$	(5.8	)	$	(3.3	)