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BUSINESS SEGMENT AND GEOGRAPHIC INFORMATION
 12 Months Ended
May 29, 2016
BUSINESS SEGMENT AND GEOGRAPHIC INFORMATION [Abstract]  
BUSINESS SEGMENT AND GEOGRAPHIC INFORMATION

NOTE 16. BUSINESS SEGMENT AND GEOGRAPHIC INFORMATION

We operate in the consumer foods industry. We have three operating segments by type of customer and geographic region as follows: U.S. Retail, 60.4 percent of our fiscal 2016 consolidated net sales; International, 28.0 percent of our fiscal 2016 consolidated net sales; and Convenience Stores and Foodservice, 11.6 percent of our fiscal 2016 consolidated net sales.

In fiscal 2015, we changed how we assess operating segment performance to exclude the asset and liability remeasurement impact from hyperinflationary economies. This impact is now included in unallocated corporate items. All periods presented have been changed to conform to this presentation.

In fiscal 2015, we realigned certain operating units within our U.S. Retail operating segment. We also changed the name of our Yoplait operating unit to Yogurt and our Big G operating unit to Cereal. Frozen Foods transitioned into Meals and Baking Products. Small Planet Foods transitioned into Snacks, Cereal, and Meals. The Yogurt operating unit was unchanged. We revised the amounts previously reported in the net sales and net sales percentage change by operating unit within our U.S. Retail segment to conform to the new operating unit structure. These realignments had no effect on previously reported consolidated net sales, operating segments’ net sales, operating profit, segment operating profit, net earnings attributable to General Mills, or EPS. In addition, results from the acquired Annie’s business are included in the Meals and Snacks operating units.

Our chief operating decision maker continues to assess performance and make decisions about resources to be allocated to our segments at the U.S. Retail, International, and Convenience Stores and Foodservice operating segment level.

Our U.S. Retail segment reflects business with a wide variety of grocery stores, mass merchandisers, membership stores, natural food chains, drug, dollar and discount chains, and e-commerce grocery providers operating throughout the United States. Our product categories in this business segment are ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, frozen pizza and pizza snacks, grain, fruit and savory snacks, and a wide variety of organic products including meal kits, granola bars, and cereal.

Our International segment consists of retail and foodservice businesses outside of the United States. Our product categories include ready-to-eat cereals, shelf stable and frozen vegetables, meal kits, refrigerated and frozen dough products, dessert and baking mixes, frozen pizza snacks, refrigerated yogurt, grain and fruit snacks, and super-premium ice cream and frozen desserts. We also sell super-premium ice cream and frozen desserts directly to consumers through owned retail shops. Our International segment also includes products manufactured in the United States for export, mainly to Caribbean and Latin American markets, as well as products we manufacture for sale to our international joint ventures. Revenues from export activities and franchise fees are reported in the region or country where the end customer is located.

In our Convenience Stores and Foodservice segment our major product categories are ready-to-eat cereals, snacks, refrigerated yogurt, frozen meals, unbaked and fully baked frozen dough products, and baking mixes. Many products we sell are branded to the consumer and nearly all are branded to our customers. We sell to distributors and operators in many customer channels including foodservice, convenience stores, vending, and supermarket bakeries. Substantially all of this segment’s operations are located in the United States.

Operating profit for these segments excludes unallocated corporate items, gain on divestitures, and restructuring, impairment, and other exit costs. Unallocated corporate items include corporate overhead expenses, variances to planned domestic employee benefits and incentives, contributions to the General Mills Foundation, asset and liability remeasurement impact of hyperinflationary economies, restructuring initiative project-related costs, and other items that are not part of our measurement of segment operating performance. These include gains and losses arising from the revaluation of certain grain inventories and gains and losses from mark-to-market valuation of certain commodity positions until passed back to our operating segments. These items affecting operating profit are centrally managed at the corporate level and are excluded from the measure of segment profitability reviewed by executive management. Under our supply chain organization, our manufacturing, warehouse, and distribution activities are substantially integrated across our operations in order to maximize efficiency and productivity. As a result, fixed assets and depreciation and amortization expenses are neither maintained nor available by operating segment.

Our operating segment results were as follows:

Fiscal Year
In Millions201620152014
Net sales:
U.S. Retail$10,007.1$10,507.0$10,604.9
International4,632.25,128.25,385.9
Convenience Stores and Foodservice1,923.81,995.11,918.8
Total$16,563.1$17,630.3$17,909.6
Operating profit:
U.S. Retail$2,179.0$2,159.3$2,311.5
International441.6522.6535.1
Convenience Stores and Foodservice378.9353.1307.3
Total segment operating profit2,999.53,035.03,153.9
Unallocated corporate items288.9413.8258.4
Divestitures (gain)(148.2)-(65.5)
Restructuring, impairment, and other exit costs151.4543.93.6
Operating profit$2,707.4$2,077.3$2,957.4

Net sales by class of similar products were as follows:

Fiscal Year
In Millions201620152014
Snacks$3,297.2$3,392.0$3,232.5
Convenient meals2,779.02,810.32,844.2
Yogurt2,760.92,938.32,964.7
Cereal2,731.52,771.32,860.1
Dough1,820.01,877.01,890.2
Baking mixes and ingredients1,704.31,867.71,996.4
Super-premium ice cream731.2769.5756.6
Vegetables532.3937.31,014.7
Other206.7266.9350.2
Total$16,563.1$17,630.3$17,909.6

The following table provides financial information by geographic area:

Fiscal Year
In Millions201620152014
Net sales:
United States$11,930.9$12,501.8$12,523.0
Non-United States4,632.25,128.55,386.6
Total$16,563.1$17,630.3$17,909.6
In MillionsMay 29, 2016May 31, 2015
Cash and cash equivalents:
United States$118.5$22.9
Non-United States645.2311.3
Total$763.7$334.2
In MillionsMay 29, 2016May 31, 2015
Land, buildings, and equipment:
United States$2,755.1$2,727.5
Non-United States988.51,055.8
Total$3,743.6$3,783.3