Income Taxes (Tables)

12 Months Ended

May 27, 2018

INCOME TAXES [Abstract]

Components of earnings before income taxes and after-tax earnings from joint ventures and the corresponding income taxes thereon [Table Text Block]

		Fiscal Year
In Millions		2018		2017		2016
Earnings before income taxes and after-tax earnings from joint ventures:
United States	$	1,884.0	$	1,941.6	$	1,941.4
Foreign		251.6		329.7		462.2
Total earnings before income taxes and after-tax earnings from joint ventures	$	2,135.6	$	2,271.3	$	2,403.6
Income taxes:
Currently payable:
Federal	$	441.2	$	368.5	$	489.8
State and local		35.2		21.1		30.8
Foreign		85.2		81.7		114.0
Total current		561.6		471.3		634.6
Deferred:
Federal		(478.5)		201.3		123.0
State and local		15.7		10.2		(6.9)
Foreign		(41.5)		(27.6)		4.5
Total deferred		(504.3)		183.9		120.6
Total income taxes	$	57.3	$	655.2	$	755.2

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

	Fiscal Year
	2018		2017		2016
United States statutory rate	29.4	%	35.0	%	35.0	%
State and local income taxes, net of federal tax benefits	1.7		0.8		0.7
Foreign rate differences	(2.0)		(3.5)		(2.2)
Provisional net tax benefit	(24.5)		-		-
Non-deductible goodwill	-		-		2.6
Stock based compensation	(1.2)		-		-
Prior period tax adjustment	1.9		-		-
Domestic manufacturing deduction	(1.9)		(2.8)		(2.0)
Other, net (a)	(0.7)		(0.7)		(2.7)
Effective income tax rate	2.7	%	28.8	%	31.4	%

Tax effects of temporary differences that give rise to deferred tax assets and liabilities [Table Text Block]

In Millions		May 27, 2018		May 28, 2017
Accrued liabilities	$	47.2	$	70.0
Compensation and employee benefits		210.2		419.2
Pension		57.1		196.3
Tax credit carryforwards		7.4		18.4
Stock, partnership, and miscellaneous investments		147.9		276.4
Capital losses		12.9		29.8
Net operating losses		161.2		109.5
Other		52.9		85.6
Gross deferred tax assets		696.8		1,205.2
Valuation allowance		176.0		231.8
Net deferred tax assets		520.8		973.4
Brands		1,498.7		1,310.1
Fixed assets		329.5		484.5
Intangible assets		255.1		238.6
Tax lease transactions		26.0		45.8
Inventories		38.8		60.0
Stock, partnership, and miscellaneous investments		317.1		479.4
Unrealized hedges		28.5		45.4
Other		30.9		29.0
Gross deferred tax liabilities		2,524.6		2,692.8
Net deferred tax liability	$	2,003.8	$	1,719.4

Schedule of Changes in Total Gross Unrecognized Tax Benefit Liabilities [Table Text Block]

	Fiscal Year
In Millions		2018		2017
Balance, beginning of year	$	135.5	$	176.5
Tax positions related to current year:
Additions		24.1		27.2
Tax positions related to prior years:
Additions		54.8		0.9
Reductions		(7.9)		(47.9)
Settlements		(3.9)		(9.6)
Lapses in statutes of limitations		(6.3)		(11.6)
Balance, end of year	$	196.3	$	135.5