$GIS
GENERAL MILLS INC

2019 Q4 Form 10-Q Financial Statement

#000119312519317557 Filed on December 18, 2019

View on sec.gov

Income Statement

Concept 2019 Q4 2018 Q4
Revenue $4.421B $4.411B
YoY Change 0.22% 5.06%
Cost Of Revenue $2.852B $2.902B
YoY Change -1.72% 5.6%
Gross Profit $1.569B $1.510B
YoY Change 3.93% 4.39%
Gross Profit Margin 35.49% 34.22%
Selling, General & Admin $759.0M $746.5M
YoY Change 1.67% 1.48%
% of Gross Profit 48.37% 49.45%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $153.6M $154.9M
YoY Change -0.84% 6.31%
% of Gross Profit 9.79% 10.26%
Operating Expenses $759.0M $746.5M
YoY Change 1.67% 1.48%
Operating Profit $811.2M $547.0M
YoY Change 48.3% -25.05%
Interest Expense $119.4M -$132.7M
YoY Change -189.98% 77.17%
% of Operating Profit 14.72% -24.26%
Other Income/Expense, Net
YoY Change
Pretax Income $722.0M $435.3M
YoY Change 65.86% -33.53%
Income Tax $155.5M $106.6M
% Of Pretax Income 21.54% 24.49%
Net Earnings $580.8M $343.4M
YoY Change 69.13% -20.23%
Net Earnings / Revenue 13.14% 7.78%
Basic Earnings Per Share $0.96 $0.57
Diluted Earnings Per Share $0.95 $0.57
COMMON SHARES
Basic Shares Outstanding 607.4M shares 599.4M shares
Diluted Shares Outstanding 612.3M shares 604.5M shares

Balance Sheet

Concept 2019 Q4 2018 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $560.0M $533.0M
YoY Change 5.07% -44.59%
Cash & Equivalents $560.2M $532.7M
Short-Term Investments
Other Short-Term Assets $427.0M $345.0M
YoY Change 23.77% 0.0%
Inventory $1.720B $1.639B
Prepaid Expenses
Receivables $1.773B $1.717B
Other Receivables $0.00 $0.00
Total Short-Term Assets $4.479B $4.234B
YoY Change 5.78% -2.31%
LONG-TERM ASSETS
Property, Plant & Equipment $3.589B $3.897B
YoY Change -7.92% 7.33%
Goodwill $13.97B $14.02B
YoY Change -0.32% 58.79%
Intangibles $7.133B $7.203B
YoY Change -0.97% 57.2%
Long-Term Investments
YoY Change
Other Assets $1.278B $1.032B
YoY Change 23.85% 26.47%
Total Long-Term Assets $25.97B $26.15B
YoY Change -0.67% 46.43%
TOTAL ASSETS
Total Short-Term Assets $4.479B $4.234B
Total Long-Term Assets $25.97B $26.15B
Total Assets $30.45B $30.38B
YoY Change 0.23% 36.91%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.063B $2.824B
YoY Change 8.46% 14.47%
Accrued Expenses $109.0M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $1.345B $1.056B
YoY Change 27.34% -18.62%
Long-Term Debt Due $1.537B $1.991B
YoY Change -22.79% 890.55%
Total Short-Term Liabilities $7.362B $7.298B
YoY Change 0.88% 36.41%
LONG-TERM LIABILITIES
Long-Term Debt $10.95B $12.21B
YoY Change -10.29% 48.38%
Other Long-Term Liabilities $1.555B $1.313B
YoY Change 18.46% -8.82%
Total Long-Term Liabilities $12.51B $13.52B
YoY Change -7.5% 39.86%
TOTAL LIABILITIES
Total Short-Term Liabilities $7.362B $7.298B
Total Long-Term Liabilities $12.51B $13.52B
Total Liabilities $21.89B $23.73B
YoY Change -7.78% 32.13%
SHAREHOLDERS EQUITY
Retained Earnings $15.50B
YoY Change
Common Stock $1.463B
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $6.662B
YoY Change
Treasury Stock Shares 150.0M shares 157.9M shares
Shareholders Equity $7.712B $6.652B
YoY Change
Total Liabilities & Shareholders Equity $30.45B $30.38B
YoY Change 0.23% 36.92%

Cashflow Statement

Concept 2019 Q4 2018 Q4
OPERATING ACTIVITIES
Net Income $580.8M $343.4M
YoY Change 69.13% -20.23%
Depreciation, Depletion And Amortization $153.6M $154.9M
YoY Change -0.84% 6.31%
Cash From Operating Activities $884.5M $789.1M
YoY Change 12.09% -19.17%
INVESTING ACTIVITIES
Capital Expenditures -$88.70M -$141.1M
YoY Change -37.14% -1.81%
Acquisitions
YoY Change
Other Investing Activities $9.700M -$14.70M
YoY Change -165.99% 250.0%
Cash From Investing Activities -$79.00M -$155.8M
YoY Change -49.29% 5.34%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -751.2M -524.3M
YoY Change 43.28% -22.86%
NET CHANGE
Cash From Operating Activities 884.5M 789.1M
Cash From Investing Activities -79.00M -155.8M
Cash From Financing Activities -751.2M -524.3M
Net Change In Cash 54.30M 109.0M
YoY Change -50.18% -26.7%
FREE CASH FLOW
Cash From Operating Activities $884.5M $789.1M
Capital Expenditures -$88.70M -$141.1M
Free Cash Flow $973.2M $930.2M
YoY Change 4.62% -16.95%

Facts In Submission

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GENERAL MILLS, INC.
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7367700000 USD
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547500000 USD
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28700000 USD
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CY2019Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2019Q4 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
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593200000 USD
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297800000 USD
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15500000 USD
CY2019Q4 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
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CY2019Q4 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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CY2019Q4 us-gaap Minority Interest Change In Redemption Value
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5100000 USD
CY2019Q4 gis Minority Interest Decrease From Distributions To Noncontrolling And Redeemable Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingAndRedeemableInterestHolders
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CY2019Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2018Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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6492400000 USD
CY2018Q3 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
323900000 USD
CY2018Q3 gis Comprehensive Income Net Of Tax Attributable To Redeemable Interest
ComprehensiveIncomeNetOfTaxAttributableToRedeemableInterest
-6600000 USD
CY2019Q4 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.49
CY2018Q3 us-gaap Dividends Common Stock Cash
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294200000 USD
CY2018Q3 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
200000 USD
CY2018Q3 us-gaap Stock Issued During Period Value Treasury Stock Reissued
StockIssuedDuringPeriodValueTreasuryStockReissued
129300000 USD
CY2018Q3 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
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CY2018Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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28100000 USD
CY2018Q3 us-gaap Minority Interest Change In Redemption Value
MinorityInterestChangeInRedemptionValue
-2000000.0 USD
CY2018Q3 gis Noncontrolling And Redeemable Interest Period Additions Due To Acquisitions
NoncontrollingAndRedeemableInterestPeriodAdditionsDueToAcquisitions
-2400000 USD
CY2018Q2 us-gaap Cumulative Effect Of New Accounting Principle In Period Of Adoption
CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption
-33900000 USD
CY2018Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
6575800000 USD
CY2018Q3 us-gaap Redeemable Noncontrolling Interest Equity Other Fair Value
RedeemableNoncontrollingInterestEquityOtherFairValue
771600000 USD
CY2018Q4 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
420200000 USD
CY2018Q4 gis Comprehensive Income Net Of Tax Attributable To Redeemable Interest
ComprehensiveIncomeNetOfTaxAttributableToRedeemableInterest
-8800000 USD
CY2018Q4 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.49
CY2018Q4 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
295000000.0 USD
CY2018Q4 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
100000 USD
CY2018Q4 us-gaap Stock Issued During Period Value Treasury Stock Reissued
StockIssuedDuringPeriodValueTreasuryStockReissued
13300000 USD
CY2018Q4 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
-1500000 USD
CY2018Q4 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
15700000 USD
CY2018Q4 us-gaap Minority Interest Change In Redemption Value
MinorityInterestChangeInRedemptionValue
270900000 USD
CY2018Q4 gis Minority Interest Decrease From Distributions To Noncontrolling And Redeemable Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingAndRedeemableInterestHolders
19900000 USD
CY2018Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
6979400000 USD
us-gaap Profit Loss
ProfitLoss
1119900000 USD
us-gaap Profit Loss
ProfitLoss
747100000 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
307700000 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
310100000 USD
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
46700000 USD
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
40200000 USD
us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
28900000 USD
us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
34700000 USD
us-gaap Share Based Compensation
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47800000 USD
us-gaap Share Based Compensation
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44500000 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-9900000 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
43800000 USD
us-gaap Pension And Other Postretirement Benefit Contributions
PensionAndOtherPostretirementBenefitContributions
14300000 USD
us-gaap Pension And Other Postretirement Benefit Contributions
PensionAndOtherPostretirementBenefitContributions
14600000 USD
us-gaap Pension And Other Postretirement Benefit Expense
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us-gaap Pension And Other Postretirement Benefit Expense
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3100000 USD
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RestructuringCostsAndAssetImpairmentCharges
11300000 USD
us-gaap Restructuring Costs And Asset Impairment Charges
RestructuringCostsAndAssetImpairmentCharges
179000000.0 USD
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-7700000 USD
us-gaap Net Cash Provided By Used In Operating Activities
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1456600000 USD
us-gaap Net Cash Provided By Used In Operating Activities
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1396500000 USD
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158500000 USD
us-gaap Payments To Acquire Property Plant And Equipment
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253800000 USD
gis Net Repayments From Advances To Joint Ventures
NetRepaymentsFromAdvancesToJointVentures
-14300000 USD
us-gaap Increase Decrease In Operating Capital
IncreaseDecreaseInOperatingCapital
-100000000.0 USD
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19700000 USD
us-gaap Other Operating Activities Cash Flow Statement
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-11000000.0 USD
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NetRepaymentsFromAdvancesToJointVentures
-1500000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
600000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
11300000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-9500000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
51400000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-162700000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-295400000 USD
us-gaap Proceeds From Repayments Of Short Term Debt
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-119700000 USD
us-gaap Proceeds From Repayments Of Short Term Debt
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-482100000 USD
us-gaap Repayments Of Long Term Debt
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509300000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
400000 USD
us-gaap Proceeds From Stock Options Exercised
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68600000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
87300000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
100000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
300000 USD
us-gaap Payments Of Dividends
PaymentsOfDividends
596300000 USD
us-gaap Payments Of Dividends
PaymentsOfDividends
589200000 USD
gis Proceeds From Redeemable Interest Investment
ProceedsFromRedeemableInterestInvestment
0 USD
gis Proceeds From Redeemable Interest Investment
ProceedsFromRedeemableInterestInvestment
55700000 USD
gis Distributions To Noncontrolling And Redeemable Interest Holders
DistributionsToNoncontrollingAndRedeemableInterestHolders
8600000 USD
gis Distributions To Noncontrolling And Redeemable Interest Holders
DistributionsToNoncontrollingAndRedeemableInterestHolders
6800000 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-14400000 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-11500000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-1179800000 USD
us-gaap Net Cash Provided By Used In Financing Activities
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-947300000 USD
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EffectOfExchangeRateOnCashAndCashEquivalents
-3900000 USD
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-20100000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
110200000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
133700000 USD
CY2019Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
450000000.0 USD
CY2018Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
399000000.0 USD
CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
560200000 USD
CY2018Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
532700000 USD
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97000000.0 USD
us-gaap Increase Decrease In Accounts Receivable
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64000000.0 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
167200000 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
15300000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-67600000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-45300000 USD
us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
245700000 USD
us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
144100000 USD
us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
-41400000 USD
us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
-10100000 USD
us-gaap Increase Decrease In Operating Capital
IncreaseDecreaseInOperatingCapital
-7700000 USD
us-gaap Increase Decrease In Operating Capital
IncreaseDecreaseInOperatingCapital
-100000000.0 USD
us-gaap Basis Of Accounting
BasisOfAccounting
<p style="margin-top: 0; margin-bottom: 0; text-align: justify"><span style="font-family: 'Times New Roman', 'serif'; font-size: 10.00pt; text-decoration: underline">(1) Background</span></p><p style="margin-top: 0; margin-bottom: 0; text-align: justify"><span style="font-family: 'Times New Roman', 'serif'; font-size: 10.00pt"> </span></p><p style="margin-top: 0; margin-bottom: 0; text-align: justify"><span style="font-family: 'Times New Roman', 'serif'; font-size: 10.00pt">The accompanying Consolidated Financial Statements of General Mills, Inc. (we, us, our, General Mills, or the Company) have been prepared in accordance with accounting principles generally accepted in the United States (GAAP) for interim financial information and with the rules and regulations for reporting on Form 10-Q. Accordingly, they do not include certain information and disclosures required for comprehensive financial statements. In the opinion of management, all adjustments considered necessary for a fair presentation have been included and are of a normal recurring nature, including the elimination of all intercompany transactions and any noncontrolling and redeemable interests’ share of those transactions. Operating results for the quarter ended November 24, 2019, are not necessarily indicative of the results that may be expected for the fiscal year ending May 31, 2020. </span></p><p style="margin-top: 0; margin-bottom: 0; text-align: justify"><span style="font-family: 'Times New Roman', 'serif'; font-size: 10.00pt"> </span></p><p style="margin-top: 0; margin-bottom: 0; text-align: justify"><span style="font-family: 'Times New Roman', 'serif'; font-size: 10.00pt">These statements should be read in conjunction with the Consolidated Financial Statements and footnotes included in our Annual Report on Form 10-K for the fiscal year ended May 26, 2019. The accounting policies used in preparing these Consolidated Financial Statements are the same as those described in Note 2 to the Consolidated Financial Statements in that Form 10-K with the exception of new requirements adopted in the first quarter of fiscal 2020.</span></p><p style="margin-top: 0; margin-bottom: 0; text-align: justify"><span style="font-family: 'Times New Roman', 'serif'; font-size: 10.00pt"> </span></p><p style="margin-top: 0; margin-bottom: 0; text-align: justify"><span style="font-family: 'Times New Roman', 'serif'; font-size: 10.00pt">In the first quarter of fiscal 2020, we adopted new accounting requirements for hedge accounting. The new standard amends the hedge accounting recognition and presentation requirements to better align an entity’s risk management activities and financial reporting. The new standard also simplifies the application of hedge accounting guidance. The adoption did not have a material impact on our results of operations or financial position.</span></p><p style="margin-top: 5.00pt; margin-bottom: 5.00pt; text-align: justify"><span style="font-family: 'Times New Roman', 'serif'; font-size: 10.00pt">In the first quarter of fiscal 2020, we adopted new requirements for the accounting, presentation, and classification of leases. This results in certain leases being capitalized as a right of use asset with a related liability on our Consolidated Balance Sheet. We have performed a review of our lease portfolio, implemented lease accounting software, and developed a centralized business process with corresponding controls. We adopted this guidance utilizing the cumulative effect adjustment approach, which required application of the guidance at the adoption date, and elected certain practical expedients permitted under the transition guidance, including not reassessing whether existing contracts contain leases and carrying forward the historical classification of those leases. In addition, we elected not to recognize leases with an initial term of 12 months or less on our Consolidated Balance Sheet and to continue our historical treatment of land easements, under permitted elections. This guidance did not have a material impact on retained earnings, our Consolidated Statements of Earnings, or our Consolidated Statements of Cash Flows. See Note 5 to the Consolidated Financial Statements for additional information on the impact to our Consolidated Balance Sheets.</span></p><p style="margin-top: 5.00pt; margin-bottom: 5.00pt; text-align: justify"><span style="font-family: 'Times New Roman', 'serif'; font-size: 10.00pt">Certain terms used throughout this report are defined in the “Glossary” section below.</span></p>
CY2019Q4 gis Restructuring Charges Reversal Including Restructuring Charges Associated With Cost Of Goods Sold
RestructuringChargesReversalIncludingRestructuringChargesAssociatedWithCostOfGoodsSold
10500000 USD
CY2018Q4 gis Restructuring Charges Reversal Including Restructuring Charges Associated With Cost Of Goods Sold
RestructuringChargesReversalIncludingRestructuringChargesAssociatedWithCostOfGoodsSold
209400000 USD
gis Restructuring Charges Reversal Including Restructuring Charges Associated With Cost Of Goods Sold
RestructuringChargesReversalIncludingRestructuringChargesAssociatedWithCostOfGoodsSold
24800000 USD
gis Restructuring Charges Reversal Including Restructuring Charges Associated With Cost Of Goods Sold
RestructuringChargesReversalIncludingRestructuringChargesAssociatedWithCostOfGoodsSold
208200000 USD
CY2018Q4 us-gaap Impairment Of Intangible Assets Indefinitelived Excluding Goodwill
ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill
192600000 USD
CY2019Q4 gis Restructuring Charges Reversal Including Restructuring Charges Associated With Cost Of Goods Sold
RestructuringChargesReversalIncludingRestructuringChargesAssociatedWithCostOfGoodsSold
10500000 USD
CY2018Q4 gis Restructuring Charges Reversal Including Restructuring Charges Associated With Cost Of Goods Sold
RestructuringChargesReversalIncludingRestructuringChargesAssociatedWithCostOfGoodsSold
209400000 USD
gis Restructuring Charges Reversal Including Restructuring Charges Associated With Cost Of Goods Sold
RestructuringChargesReversalIncludingRestructuringChargesAssociatedWithCostOfGoodsSold
24800000 USD
gis Restructuring Charges Reversal Including Restructuring Charges Associated With Cost Of Goods Sold
RestructuringChargesReversalIncludingRestructuringChargesAssociatedWithCostOfGoodsSold
208200000 USD
CY2018Q4 gis Other Project Related Costs
OtherProjectRelatedCosts
0 USD
gis Other Project Related Costs
OtherProjectRelatedCosts
700000 USD
gis Other Project Related Costs
OtherProjectRelatedCosts
1200000 USD
CY2019Q2 us-gaap Restructuring Reserve
RestructuringReserve
36500000 USD
gis Decrease In Restructuring Reserve
DecreaseInRestructuringReserve
9800000 USD
CY2019Q4 us-gaap Restructuring Reserve
RestructuringReserve
27500000 USD
CY2019Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
225800000 USD
CY2019Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
210100000 USD
CY2019Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
553000000.0 USD
CY2019Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
576000000.0 USD
CY2019Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
7133000000.0 USD
CY2019Q2 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
7166800000 USD
CY2019Q4 us-gaap Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
21106900000 USD
CY2019Q2 us-gaap Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
21162600000 USD
CY2019Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
40000000 USD
CY2019Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
40000000 USD
CY2019Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
40000000 USD
CY2019Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
40000000 USD
CY2019Q4 us-gaap Goodwill
Goodwill
13973900000 USD
CY2019Q2 us-gaap Goodwill
Goodwill
13995800000 USD
CY2019Q2 us-gaap Indefinite Lived Trade Names
IndefiniteLivedTradeNames
6590800000 USD
CY2019Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
778800000 USD
CY2019Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
786100000 USD
CY2019Q2 us-gaap Goodwill
Goodwill
13995800000 USD
us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
-21900000 USD
CY2019Q4 us-gaap Goodwill
Goodwill
13973900000 USD
CY2019Q2 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
7166800000 USD
us-gaap Indefinite Lived Intangible Assets Translation And Purchase Accounting Adjustments
IndefiniteLivedIntangibleAssetsTranslationAndPurchaseAccountingAdjustments
-33800000 USD
CY2019Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
7133000000.0 USD
CY2019Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
403800000 USD
CY2019Q4 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
398000000.0 USD
CY2019Q2 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
434900000 USD
CY2019Q4 us-gaap Inventory Finished Goods And Work In Process
InventoryFinishedGoodsAndWorkInProcess
1433600000 USD
CY2019Q2 us-gaap Inventory Finished Goods And Work In Process
InventoryFinishedGoodsAndWorkInProcess
1245900000 USD
CY2019Q4 us-gaap Other Inventory Purchased Goods
OtherInventoryPurchasedGoods
99200000 USD
CY2019Q2 us-gaap Other Inventory Purchased Goods
OtherInventoryPurchasedGoods
92000000.0 USD
CY2019Q4 us-gaap Inventory Lifo Reserve
InventoryLIFOReserve
211300000 USD
CY2019Q2 us-gaap Inventory Lifo Reserve
InventoryLIFOReserve
213500000 USD
CY2019Q4 us-gaap Inventory Net
InventoryNet
1719500000 USD
CY2019Q2 us-gaap Inventory Net
InventoryNet
1559300000 USD
CY2019Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
108600000 USD
CY2019Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
308500000 USD
CY2019Q4 us-gaap Operating Lease Cost
OperatingLeaseCost
35100000 USD
us-gaap Operating Lease Cost
OperatingLeaseCost
68000000.0 USD
CY2019Q4 us-gaap Variable Lease Cost
VariableLeaseCost
4700000 USD
us-gaap Variable Lease Cost
VariableLeaseCost
9900000 USD
CY2019Q4 us-gaap Short Term Lease Cost
ShortTermLeaseCost
7200000 USD
us-gaap Short Term Lease Cost
ShortTermLeaseCost
13600000 USD
CY2019 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
184900000 USD
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
65700000 USD
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
111600000 USD
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
93800000 USD
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
69400000 USD
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
52800000 USD
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
62600000 USD
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
455900000 USD
CY2019Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
38800000 USD
CY2019Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
417100000 USD
CY2019Q4 gis Lessee Operating Lease Signed Not Yet Commenced Amount
LesseeOperatingLeaseSignedNotYetCommencedAmount
12400000 USD
CY2019Q2 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
120000000.0 USD
CY2019Q2 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
101700000 USD
CY2019Q2 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
85000000.0 USD
CY2019Q2 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
63800000 USD
CY2019Q2 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
49100000 USD
CY2019Q2 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
63000000.0 USD
CY2019Q2 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
482600000 USD
gis Lessee Operating Lease Weighted Averagestabletext Block
LesseeOperatingLeaseWeightedAveragestabletextBlock
<table style="border-collapse: collapse; border: none; margin-bottom: 0.001pt; width: 100%; margin-left: 0.00pt"> <tr style="height: 0.10in"> <td style="vertical-align: bottom; width: 75%; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0"><p style="margin-bottom: 0"><span style="font-family: Calibri; font-size: 11.00pt"> </span></p></td> <td colspan="2" style="vertical-align: bottom; width: 9%; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; text-align: center"><p style="margin-bottom: 0; text-align: center"><span style="font-family: 'Times New Roman', 'serif'; font-size: 10.00pt"> </span></p></td> <td style="vertical-align: bottom; width: 16%; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; text-align: center"><p style="margin-bottom: 0; text-align: center"><span style="font-family: 'Times New Roman', 'serif'; font-size: 10.00pt"> </span></p></td></tr> <tr style="height: 0.18in"> <td style="vertical-align: bottom; width: 75%; border-bottom: solid #000000 0.5pt; background: #FFFFFF; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0"><p style="margin-bottom: 0"><span style="font-family: 'Times New Roman', 'serif'; font-size: 10.00pt"> </span></p></td> <td colspan="3" style="vertical-align: bottom; width: 25%; border-bottom: solid #000000 0.5pt; background: #FFFFFF; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; text-align: center"><p style="margin-bottom: 0; text-align: center"><span style="color: #000000; font-family: 'Times New Roman', 'serif'; font-weight: bold; font-size: 10.00pt">Nov. 24, 2019</span></p></td></tr> <tr style="height: 0.09in"> <td style="vertical-align: bottom; width: 75%; border-top: solid #000000 0.5pt; background: #CCEEFF; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0"><p style="margin-bottom: 0"><span style="color: #000000; font-family: 'Times New Roman', 'serif'; font-size: 10.00pt">Weighted-average remaining lease term</span></p></td> <td style="vertical-align: bottom; width: 8%; border-top: solid #000000 0.5pt; background: #CCEEFF; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; text-align: right"><p style="margin-bottom: 0; text-align: right"><span style="color: #000000; font-family: 'Times New Roman', 'serif'; font-size: 10.00pt">4.7</span></p></td> <td style="vertical-align: bottom; width: 1%; border-top: solid #000000 0.5pt; background: #CCEEFF; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; text-align: right"><p style="margin-bottom: 0; text-align: right"><span style="font-family: 'Times New Roman', 'serif'; font-size: 10.00pt"> </span></p></td> <td style="vertical-align: bottom; width: 16%; border-top: solid #000000 0.5pt; background: #CCEEFF; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0"><p style="margin-bottom: 0"><span style="color: #000000; font-family: 'Times New Roman', 'serif'; font-size: 10.00pt">years</span></p></td></tr> <tr style="height: 0.09in"> <td style="vertical-align: bottom; width: 75%; border-bottom: solid #000000 1pt; background: #FFFFFF; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0"><p style="margin-bottom: 0"><span style="color: #000000; font-family: 'Times New Roman', 'serif'; font-size: 10.00pt">Weighted-average discount rate</span></p></td> <td style="vertical-align: bottom; width: 8%; border-bottom: solid #000000 1pt; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; text-align: right"><p style="margin-bottom: 0; text-align: right"><span style="color: #000000; font-family: 'Times New Roman', 'serif'; font-size: 10.00pt">4.1</span></p></td> <td style="vertical-align: bottom; width: 1%; border-bottom: solid #000000 1pt; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; text-align: right"><p style="margin-bottom: 0; text-align: right"><span style="font-family: 'Times New Roman', 'serif'; font-size: 10.00pt"> </span></p></td> <td style="vertical-align: bottom; width: 16%; border-bottom: solid #000000 1pt; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0"><p style="margin-bottom: 0"><span style="color: #000000; font-family: 'Times New Roman', 'serif'; font-size: 10.00pt">%</span></p></td></tr></table>
CY2019Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y8M12D
CY2019Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.041 pure
us-gaap Operating Lease Payments
OperatingLeasePayments
64700000 USD
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
28200000 USD
CY2019Q4 gis Noncontrolling Interests Covenant Compliancee
NoncontrollingInterestsCovenantCompliancee
Our noncontrolling interests contain restrictive covenants. As of November 24, 2019, we were in compliance with all of these covenants.
CY2019Q4 us-gaap Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustment Net Of Tax
AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax
-735500000 USD
CY2019Q4 us-gaap Gain Loss On Price Risk Derivative Instruments Not Designated As Hedging Instruments
GainLossOnPriceRiskDerivativeInstrumentsNotDesignatedAsHedgingInstruments
9700000 USD
CY2018Q4 us-gaap Gain Loss On Price Risk Derivative Instruments Not Designated As Hedging Instruments
GainLossOnPriceRiskDerivativeInstrumentsNotDesignatedAsHedgingInstruments
-17500000 USD
us-gaap Gain Loss On Price Risk Derivative Instruments Not Designated As Hedging Instruments
GainLossOnPriceRiskDerivativeInstrumentsNotDesignatedAsHedgingInstruments
-11000000.0 USD
us-gaap Gain Loss On Price Risk Derivative Instruments Not Designated As Hedging Instruments
GainLossOnPriceRiskDerivativeInstrumentsNotDesignatedAsHedgingInstruments
-37000000.0 USD
CY2019Q4 gis Net Loss Gain On Commodity Positions Reclassified From Unallocated Corporate Items To Segment Operating Profit
NetLossGainOnCommodityPositionsReclassifiedFromUnallocatedCorporateItemsToSegmentOperatingProfit
-4000000.0 USD
CY2018Q4 gis Net Loss Gain On Commodity Positions Reclassified From Unallocated Corporate Items To Segment Operating Profit
NetLossGainOnCommodityPositionsReclassifiedFromUnallocatedCorporateItemsToSegmentOperatingProfit
-2200000 USD
gis Net Loss Gain On Commodity Positions Reclassified From Unallocated Corporate Items To Segment Operating Profit
NetLossGainOnCommodityPositionsReclassifiedFromUnallocatedCorporateItemsToSegmentOperatingProfit
-15300000 USD
gis Net Loss Gain On Commodity Positions Reclassified From Unallocated Corporate Items To Segment Operating Profit
NetLossGainOnCommodityPositionsReclassifiedFromUnallocatedCorporateItemsToSegmentOperatingProfit
1500000 USD
CY2019Q4 us-gaap Increase Decrease In Fair Value Of Hedged Item In Price Risk Fair Value Hedge1
IncreaseDecreaseInFairValueOfHedgedItemInPriceRiskFairValueHedge1
8900000 USD
us-gaap Increase Decrease In Fair Value Of Hedged Item In Price Risk Fair Value Hedge1
IncreaseDecreaseInFairValueOfHedgedItemInPriceRiskFairValueHedge1
3300000 USD
us-gaap Increase Decrease In Fair Value Of Hedged Item In Price Risk Fair Value Hedge1
IncreaseDecreaseInFairValueOfHedgedItemInPriceRiskFairValueHedge1
-4400000 USD
CY2019Q4 gis Net Mark To Market Valuation Of Certain Commodity Positions Recognized In Unallocated Corporate Items
NetMarkToMarketValuationOfCertainCommodityPositionsRecognizedInUnallocatedCorporateItems
22600000 USD
CY2018Q4 gis Net Mark To Market Valuation Of Certain Commodity Positions Recognized In Unallocated Corporate Items
NetMarkToMarketValuationOfCertainCommodityPositionsRecognizedInUnallocatedCorporateItems
-11800000 USD
gis Net Mark To Market Valuation Of Certain Commodity Positions Recognized In Unallocated Corporate Items
NetMarkToMarketValuationOfCertainCommodityPositionsRecognizedInUnallocatedCorporateItems
7600000 USD
gis Net Mark To Market Valuation Of Certain Commodity Positions Recognized In Unallocated Corporate Items
NetMarkToMarketValuationOfCertainCommodityPositionsRecognizedInUnallocatedCorporateItems
-42900000 USD
CY2019Q4 gis Accounts Payable To Suppliers That Utilize Third Party Service
AccountsPayableToSuppliersThatUtilizeThirdPartyService
1279200000 USD
CY2019Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
1345100000 USD
CY2019Q2 us-gaap Short Term Borrowings
ShortTermBorrowings
1468700000 USD
CY2019Q4 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
3600000000 USD
CY2019Q4 us-gaap Line Of Credit
LineOfCredit
200000000 USD
CY2019Q4 us-gaap Loans Payable Fair Value Disclosure
LoansPayableFairValueDisclosure
13285200000 USD
CY2019Q4 us-gaap Redeemable Noncontrolling Interest Equity Other Fair Value
RedeemableNoncontrollingInterestEquityOtherFairValue
545100000 USD
CY2019Q2 us-gaap Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustment Net Of Tax
AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax
-739900000 USD
CY2019Q2 us-gaap Accumulated Other Comprehensive Income Loss Cumulative Changes In Net Gain Loss From Cash Flow Hedges Effect Net Of Tax
AccumulatedOtherComprehensiveIncomeLossCumulativeChangesInNetGainLossFromCashFlowHedgesEffectNetOfTax
-19400000 USD
CY2019Q4 us-gaap Defined Benefit Plan Accumulated Other Comprehensive Income Net Gains Losses After Tax
DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeNetGainsLossesAfterTax
-1840200000 USD
CY2019Q2 us-gaap Defined Benefit Plan Accumulated Other Comprehensive Income Net Gains Losses After Tax
DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeNetGainsLossesAfterTax
-1880500000 USD
CY2019Q4 us-gaap Defined Benefit Plan Accumulated Other Comprehensive Income Net Prior Service Cost Credit After Tax
DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeNetPriorServiceCostCreditAfterTax
-13300000 USD
CY2019Q2 us-gaap Defined Benefit Plan Accumulated Other Comprehensive Income Net Prior Service Cost Credit After Tax
DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeNetPriorServiceCostCreditAfterTax
-14400000 USD
CY2019Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-2589800000 USD
CY2019Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-2625400000 USD
CY2019Q4 gis Allocated Share Based Compensation Expense Including Restructuring And Noncash Items
AllocatedShareBasedCompensationExpenseIncludingRestructuringAndNoncashItems
19000000.0 USD
CY2018Q4 gis Allocated Share Based Compensation Expense Including Restructuring And Noncash Items
AllocatedShareBasedCompensationExpenseIncludingRestructuringAndNoncashItems
18400000 USD
gis Allocated Share Based Compensation Expense Including Restructuring And Noncash Items
AllocatedShareBasedCompensationExpenseIncludingRestructuringAndNoncashItems
47800000 USD
gis Allocated Share Based Compensation Expense Including Restructuring And Noncash Items
AllocatedShareBasedCompensationExpenseIncludingRestructuringAndNoncashItems
44600000 USD
CY2019Q4 us-gaap Employee Service Share Based Compensation Tax Benefit From Exercise Of Stock Options
EmployeeServiceShareBasedCompensationTaxBenefitFromExerciseOfStockOptions
-1600000 USD
us-gaap Employee Service Share Based Compensation Tax Benefit From Exercise Of Stock Options
EmployeeServiceShareBasedCompensationTaxBenefitFromExerciseOfStockOptions
-8200000 USD
CY2018Q4 us-gaap Employee Service Share Based Compensation Tax Benefit From Exercise Of Stock Options
EmployeeServiceShareBasedCompensationTaxBenefitFromExerciseOfStockOptions
-1900000 USD
us-gaap Employee Service Share Based Compensation Tax Benefit From Exercise Of Stock Options
EmployeeServiceShareBasedCompensationTaxBenefitFromExerciseOfStockOptions
-6700000 USD
CY2019Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
134500000 USD
CY2019Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P25M
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
68600000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
87300000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
36500000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
39000000.0 USD
CY2019Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
612300000 shares
CY2018Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
604500000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
611800000 shares
CY2019Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.96
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.82
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.23
CY2019Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.95
CY2019Q4 us-gaap Net Income Loss
NetIncomeLoss
580800000 USD
us-gaap Net Income Loss
NetIncomeLoss
735700000 USD
CY2019Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
607400000 shares
CY2018Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
599400000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
606700000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
598700000 shares
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Method Used
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsMethodUsed
We estimate the fair value of each stock option on the grant date using a Black-Scholes option-pricing model. Black-Scholes option-pricing models require us to make predictive assumptions regarding future stock price volatility, employee exercise behavior, and dividend yield. We estimate our future stock price volatility using the historical volatility over the expected term of the option, excluding time periods of volatility we believe a marketplace participant would exclude in estimating our stock price volatility. We also have considered, but did not use, implied volatility in our estimate, because trading activity in options on our stock, especially those with tenors of greater than 6 months, is insufficient to provide a reliable measure of expected volatility. Our method of selecting the other valuation assumptions is explained in Note 11 to the Consolidated Financial Statements included in our Annual Report on Form 10-K for the fiscal year ended May 26, 2019.
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
7.10
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
5.35
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.020 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.029 pure
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P8Y6M
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P8Y6M
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.174 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.163 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.036 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.043 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue
50700000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue
37900000 USD
CY2019Q4 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
10600000 shares
CY2018Q4 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
14400000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
10300000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
14000000.0 shares
us-gaap Interest Paid Net
InterestPaidNet
216100000 USD
us-gaap Interest Paid Net
InterestPaidNet
252000000.0 USD
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
267000000.0 USD
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
235200000 USD
CY2019Q3 us-gaap Deferred Other Tax Expense Benefit
DeferredOtherTaxExpenseBenefit
53100000 USD
us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
7100000 USD
us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
208000000.0 USD
CY2019Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
811200000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
1473600000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
1148500000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
8423300000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
8505200000 USD

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