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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
9 Months Ended
Feb. 27, 2022
Feb. 28, 2021
Cash flows from operating activities:    
Net income $ 730.5 $ 991.0
Adjustments to reconcile net income to net cash flows from operating activities:    
Depreciation and amortization 285.6 289.6
Asset impairment charges 72.7 4.2
Loss on extinguishment of debt 0.0 68.7
Gain on divestiture 0.0 (55.0)
Equity method investment earnings in excess of distributions (59.7) (19.3)
Stock-settled share-based payments expense 26.8 41.1
Contributions to pension plans (8.6) (23.7)
Pension benefit (38.5) (29.2)
Other items (31.6) 12.6
Change in operating assets and liabilities excluding effects of business acquisitions and dispositions:    
Receivables (120.7) 18.5
Inventories (57.0) (206.7)
Deferred income taxes and income taxes payable, net 38.4 15.9
Prepaid expenses and other current assets (34.7) (27.9)
Accounts payable (12.0) (24.1)
Accrued payroll (32.4) (21.4)
Other accrued liabilities 19.3 1.8
Deferred employer payroll taxes (25.5) 33.9
Net cash flows from operating activities 752.6 1,070.0
Cash flows from investing activities:    
Additions to property, plant and equipment (364.2) (396.7)
Sale of property, plant and equipment 18.0 1.1
Purchase of marketable securities (2.5) (6.8)
Sale of marketable securities 2.4 8.3
Proceeds from divestitures 0.1 112.2
Other items 3.3 0.0
Net cash flows from investing activities (342.9) (281.9)
Cash flows from financing activities:    
Issuance of short-term borrowings, maturities greater than 90 days 392.6 298.6
Repayment of short-term borrowings, maturities greater than 90 days (392.6) (49.9)
Net (repayment) issuance of other short-term borrowings (344.6) 478.9
Issuance of long-term debt 499.1 988.2
Repayment of long-term debt (43.1) (2,312.1)
Debt issuance costs (2.5) (6.2)
Repurchase of Conagra Brands, Inc. common shares (50.0) (298.1)
Payment of intangible asset financing arrangement (12.6) (12.9)
Cash dividends paid (431.9) (341.7)
Exercise of stock options and issuance of other stock awards, including tax withholdings (14.1) (8.4)
Other items (7.3) 0.0
Net cash flows from financing activities (407.0) (1,263.6)
Effect of exchange rate changes on cash and cash equivalents and restricted cash (3.2) 2.9
Net change in cash and cash equivalents and restricted cash (0.5) (472.6)
Cash and cash equivalents and restricted cash at beginning of period 80.2 554.3
Cash and cash equivalents and restricted cash at end of period $ 79.7 $ 81.7