XML 19 R6.htm IDEA: XBRL DOCUMENT v3.8.0.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Aug. 27, 2017
Aug. 28, 2016
Cash flows from operating activities:    
Net income $ 153.3 $ 190.0
Income (loss) from discontinued operations (0.3) 91.4
Income from continuing operations 153.6 98.6
Adjustments to reconcile income from continuing operations to net cash flows from operating activities:    
Depreciation and amortization 64.7 67.2
Asset impairment charges 6.0 164.1
Gain on divestitures 0.0 (198.2)
Earnings of affiliates in excess of distributions (30.0) (6.9)
Stock-settled share-based payments expense 8.2 7.5
Contributions to pension plans (3.8) (3.0)
Pension benefit (12.6) (10.4)
Other items 5.5 11.7
Change in operating assets and liabilities excluding effects of business acquisitions and dispositions:    
Receivables (13.7) 14.8
Inventories (138.4) (83.3)
Deferred income taxes and income taxes payable, net 132.1 215.3
Prepaid expenses and other current assets (6.5) (4.8)
Accounts payable 67.8 56.5
Accrued payroll (72.1) (121.2)
Other accrued liabilities (19.3) 0.4
Net cash flows from operating activities — continuing operations 141.5 208.3
Net cash flows from operating activities — discontinued operations (5.5) 117.6
Net cash flows from operating activities 136.0 325.9
Cash flows from investing activities:    
Additions to property, plant and equipment (42.6) (58.1)
Sale of property, plant and equipment 4.0 2.0
Proceeds from divestitures 0.0 486.3
Net cash flows from investing activities — continuing operations (38.6) 430.2
Net cash flows from investing activities — discontinued operations 0.0 (58.3)
Net cash flows from investing activities (38.6) 371.9
Cash flows from financing activities:    
Net short-term borrowings 295.3 (3.3)
Repayment of long-term debt (2.3) (553.9)
Payment of intangible asset financing arrangement (14.4) (14.9)
Repurchase of Conagra Brands, Inc. common shares (300.0) (85.6)
Cash dividends paid (83.3) (109.5)
Exercise of stock options and issuance of other stock awards, including tax withholdings (2.4) 32.6
Net cash flows from financing activities — continuing operations (107.1) (734.6)
Net cash flows from financing activities — discontinued operations 0.0 (3.1)
Net cash flows from financing activities (107.1) (737.7)
Effect of exchange rate changes on cash and cash equivalents 9.7 0.0
Net change in cash and cash equivalents 0.0 (39.9)
Add: Cash balance included in assets held for sale and discontinued operations at beginning of period 0.0 36.4
Less: Cash balance included in assets held for sale and discontinued operations at end of period 0.0 72.4
Cash and cash equivalents at beginning of period 251.4 798.1
Cash and cash equivalents at beginning of period $ 251.4 $ 722.2