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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Nov. 27, 2016
Nov. 29, 2015
Cash flows from operating activities:    
Net income (loss) $ 315.9 $ (993.1)
Income (loss) from discontinued operations 103.0 (1,166.8)
Income from continuing operations 212.9 173.7
Adjustments to reconcile income from continuing operations to net cash flows from operating activities:    
Depreciation and amortization 133.5 141.2
Asset impairment charges 211.9 1.7
Gain on divestitures (197.5) 0.0
Loss on extinguishment of debt 60.6 0.0
Lease cancellation expense 0.0 48.5
Earnings of affiliates in excess of distributions (23.4) (41.6)
Share-based payments expense 18.3 16.7
Contributions to pension plans (5.9) (6.0)
Pension benefit (20.6) (7.9)
Other items 23.9 (13.7)
Change in operating assets and liabilities excluding effects of business acquisitions and dispositions:    
Accounts receivable (49.2) (98.6)
Inventory (32.2) (165.0)
Deferred income taxes and income taxes payable, net 183.5 (100.2)
Prepaid expenses and other current assets 0.2 (2.3)
Accounts payable 71.7 (10.2)
Accrued payroll (95.5) (1.7)
Other accrued liabilities (31.6) 82.0
Net cash flows from operating activities — continuing operations 460.6 16.6
Net cash flows from operating activities — discontinued operations 81.6 335.5
Net cash flows from operating activities 542.2 352.1
Cash flows from investing activities:    
Additions to property, plant and equipment (118.3) (110.4)
Sale of property, plant and equipment 11.3 16.2
Proceeds from divestitures 489.1 0.0
Purchase of business and intangible assets (108.2) (10.1)
Net cash flows from investing activities — continuing operations 273.9 (104.3)
Net cash flows from investing activities — discontinued operations (123.7) (132.7)
Net cash flows from investing activities 150.2 (237.0)
Cash flows from financing activities:    
Net short-term borrowings (7.2) 177.3
Repayment of long-term debt (555.8) (254.5)
Payment of intangible asset financing arrangement (14.9) 0.0
Repurchase of Conagra Brands, Inc. common shares (170.1) 0.0
Cash dividends paid (219.4) (215.0)
Exercise of stock options and issuance of other stock awards 47.4 119.2
Net cash flows from financing activities — continuing operations (920.0) (173.0)
Net cash flows from financing activities — discontinued operations 839.1 6.2
Net cash flows from financing activities (80.9) (166.8)
Effect of exchange rate changes on cash and cash equivalents (3.5) (3.0)
Net change in cash and cash equivalents 608.0 (54.7)
Discontinued operations cash activity included above:    
Add: Cash balance included in assets held for sale and discontinued operations at beginning of period 36.4 49.0
Less: Cash balance included in assets held for sale and discontinued operations at end of period 0.0 56.4
Cash and cash equivalents at beginning of period 798.1 134.1
Cash and cash equivalents at end of period $ 1,442.5 $ 72.0