BUSINESS SEGMENTS AND RELATED INFORMATION (Tables)

3 Months Ended

Aug. 29, 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
	August 29, 2021			August 30, 2020
Net sales
Grocery & Snacks	$	1,075.1		$	1,131.0
Refrigerated & Frozen		1,101.8			1,130.6
International		236.6			219.0
Foodservice		239.8			198.3
Total net sales	$	2,653.3		$	2,678.9
Operating profit
Grocery & Snacks	$	215.9		$	283.1
Refrigerated & Frozen		157.6			240.1
International		34.1			38.5
Foodservice		20.3			25.4
Total operating profit	$	427.9		$	587.1
Equity method investment earnings		20.2			6.5
General corporate expense		64.6			77.2
Pension and postretirement non-service income		(16.1	)		(13.8	)
Interest expense, net		94.2			113.7
Income tax expense		69.7			86.7
Net income	$	235.7		$	329.8
Less: Net income attributable to noncontrolling interests		0.3			0.8
Net income attributable to Conagra Brands, Inc.	$	235.4		$	329.0

The following table presents further disaggregation of our net sales:

	Thirteen weeks ended
	August 29, 2021		August 30, 2020
Frozen	$	920.4	$	918.4
Staples
Other shelf-stable		641.6		713.9
Refrigerated		181.4		212.2
Snacks		433.5		417.1
Foodservice		239.8		198.3
International		236.6		219.0
Total net sales	$	2,653.3	$	2,678.9

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 29, 2021			August 30, 2020
Gross derivative gains (losses) incurred	$	10.2		$	(4.0	)
Less: Net derivative gains (losses) allocated to reporting segments		5.0			(1.5	)
Net derivative gains (losses) recognized in general corporate expenses	$	5.2		$	(2.5	)
Net derivative gains (losses) allocated to Grocery & Snacks	$	3.2		$	(1.8	)
Net derivative gains (losses) allocated to Refrigerated & Frozen		4.7			(1.1	)
Net derivative gains (losses) allocated to International		(3.2	)		1.6
Net derivative gains (losses) allocated to Foodservice		0.3			(0.2	)
Net derivative gains (losses) included in segment operating profit	$	5.0		$	(1.5	)