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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
May 28, 2017
May 29, 2016
May 31, 2015
Cash flows from operating activities:      
Net income (loss) $ 648.0 $ (665.9) $ (240.8)
Income (loss) from discontinued operations 102.0 (794.4) (692.1)
Income from continuing operations 546.0 128.5 451.3
Adjustments to reconcile income from continuing operations to net cash flows from operating activities:      
Depreciation and amortization 268.0 278.5 284.6
Asset impairment charges 343.3 62.6 36.0
Gain on divestitures (197.4) 0.0 0.0
Lease cancellation expense 0.0 55.6 0.0
Loss on extinguishment of debt 93.3 23.9 24.6
Earnings of affiliates in excess of distributions (3.0) (25.7) (0.1)
Stock-settled share-based payments expense 36.1 41.8 33.3
Contributions to pension plans (163.0) (11.5) (12.7)
Pension expense (benefit) (21.4) 358.1 (15.7)
Other items 39.9 53.6 24.7
Change in operating assets and liabilities excluding effects of business acquisitions and dispositions:      
Receivables 104.7 (156.8) 68.3
Inventories 123.3 66.1 (63.3)
Deferred income taxes and income taxes payable, net 52.3 (264.9) 45.2
Prepaid expenses and other current assets 15.0 10.8 (19.0)
Accounts payable 71.0 (118.3) (15.5)
Accrued payroll (52.4) 68.9 60.3
Other accrued liabilities (114.9) 54.3 (62.3)
Net cash flows from operating activities - continuing operations 1,140.8 625.5 839.7
Net cash flows from operating activities - discontinued operations 34.7 633.7 664.9
Net cash flows from operating activities 1,175.5 1,259.2 1,504.6
Cash flows from investing activities:      
Additions to property, plant and equipment (242.1) (277.5) (236.5)
Sale of property, plant and equipment 13.2 35.7 0.0
Proceeds from divestitures 489.0 0.0 0.0
Purchase of business and intangible assets (325.7) (10.4) (20.7)
Return of investment in equity method investee 0.0 0.0 391.4
Other items 0.0 0.3 (0.1)
Net cash flows from investing activities - continuing operations (65.6) (251.9) 134.1
Net cash flows from investing activities - discontinued operations (123.7) 2,379.3 (175.7)
Net cash flows from investing activities (189.3) 2,127.4 (41.6)
Cash flows from financing activities:      
Net short-term borrowings 14.3 9.5 (137.4)
Issuance of long-term debt 0.0 0.0 550.0
Repayment of long-term debt (1,064.5) (2,523.2) (1,491.4)
Payment of intangible asset financing arrangement (14.9) 0.0 0.0
Repurchase of Conagra Brands, Inc. common shares (1,000.0) 0.0 (50.0)
Sale of Conagra Brands, Inc. common shares 0.0 8.6 0.0
Cash dividends paid (415.0) (432.5) (425.2)
Exercise of stock options and issuance of other stock awards 73.8 208.4 129.8
Other items (1.9) 0.0 (2.3)
Net cash flows from financing activities - continuing operations (2,408.2) (2,729.2) (1,426.5)
Net cash flows from financing activities - discontinued operations 839.1 (4.0) (27.7)
Net cash flows from financing activities (1,569.1) (2,733.2) (1,454.2)
Effect of exchange rate changes on cash and cash equivalents (0.2) (2.0) (8.8)
Net change in cash and cash equivalents (583.1) 651.4 0.0
Add: Cash balance included in assets held for sale and discontinued operations at beginning of period 36.4 49.0 90.6
Less: Cash balance included in assets held for sale and discontinued operations at end of period 0.0 36.4 49.0
Cash and cash equivalents at beginning of year 798.1 134.1 92.5
Cash and cash equivalents at end of year $ 251.4 $ 798.1 $ 134.1