BUSINESS SEGMENTS AND RELATED INFORMATION (Tables)

9 Months Ended

Feb. 27, 2022

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 27, 2022			February 28, 2021			February 27, 2022			February 28, 2021
Net sales
Grocery & Snacks	$	1,199.0		$	1,129.5		$	3,538.6		$	3,543.6
Refrigerated & Frozen		1,238.6			1,203.1			3,626.3			3,581.7
International		241.2			240.9			740.0			709.7
Foodservice		234.9			197.6			721.0			610.2
Total net sales	$	2,913.7		$	2,771.1		$	8,625.9		$	8,445.2
Operating profit
Grocery & Snacks	$	231.5		$	290.0		$	696.6		$	889.2
Refrigerated & Frozen		158.0			214.6			483.9			719.0
International		29.9			27.8			101.1			105.8
Foodservice		4.7			13.0			38.8			61.0
Total operating profit	$	424.1		$	545.4		$	1,320.4		$	1,775.0
Equity method investment earnings		48.1			21.5			97.8			51.0
General corporate expense		64.9			96.7			188.5			285.2
Pension and postretirement non-service income		(16.1	)		(13.7	)		(48.3	)		(41.2	)
Interest expense, net		94.6			100.6			283.7			322.0
Income tax expense		109.9			101.6			263.8			269.0
Net income	$	218.9		$	281.7		$	730.5		$	991.0
Less: Net income attributable to noncontrolling interests		0.5			0.3			1.2			1.7
Net income attributable to Conagra Brands, Inc.	$	218.4		$	281.4		$	729.3		$	989.3

The following table presents further disaggregation of our net sales:

	Thirteen Weeks Ended				Thirty-Nine Weeks Ended
	February 27, 2022		February 28, 2021		February 27, 2022		February 28, 2021
Frozen	$	1,061.8	$	1,013.2	$	3,055.3	$	2,951.9
Staples
Other shelf-stable		698.5		696.5		2,064.7		2,202.3
Refrigerated		176.8		189.9		571.0		629.8
Snacks		500.5		433.0		1,473.9		1,341.3
Foodservice		234.9		197.6		721.0		610.2
International		241.2		240.9		740.0		709.7
Total net sales	$	2,913.7	$	2,771.1	$	8,625.9	$	8,445.2

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 27, 2022		February 28, 2021			February 27, 2022			February 28, 2021
Gross derivative gains incurred	$	10.0	$	5.3		$	27.2		$	1.4
Less: Net derivative gains (losses) allocated to reporting segments		8.1		(1.1	)		21.9			(5.8	)
Net derivative gains recognized in general corporate expenses	$	1.9	$	6.4		$	5.3		$	7.2
Net derivative gains (losses) allocated to Grocery & Snacks	$	3.9	$	0.3		$	11.8		$	(4.1	)
Net derivative gains (losses) allocated to Refrigerated & Frozen		3.6		(0.1	)		12.9			(2.1	)
Net derivative gains (losses) allocated to International		0.3		(1.3	)		(3.6	)		1.1
Net derivative gains (losses) allocated to Foodservice		0.3		—			0.8			(0.7	)
Net derivative gains (losses) included in segment operating profit	$	8.1	$	(1.1	)	$	21.9		$	(5.8	)