$GIS
GENERAL MILLS INC

2020 Q3 Form 10-Q Financial Statement

#000119312520252378 Filed on September 23, 2020

View on sec.gov

Income Statement

Concept 2020 Q3 2019 Q3
Revenue $4.364B $4.003B
YoY Change 9.03% -2.23%
Cost Of Revenue $2.774B $2.607B
YoY Change 6.39% -3.33%
Gross Profit $1.590B $1.390B
YoY Change 14.46% 3.48%
Gross Profit Margin 36.44% 34.72%
Selling, General & Admin $736.2M $718.9M
YoY Change 2.41% -2.06%
% of Gross Profit 46.29% 51.74%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $146.1M $154.1M
YoY Change -5.19% -0.71%
% of Gross Profit 9.19% 11.09%
Operating Expenses $736.2M $718.9M
YoY Change 2.41% -2.06%
Operating Profit $853.7M $662.4M
YoY Change 28.88% 10.12%
Interest Expense $111.1M -$118.7M
YoY Change -193.6% -11.09%
% of Operating Profit 13.01% -17.92%
Other Income/Expense, Net
YoY Change
Pretax Income $775.9M $573.9M
YoY Change 35.2% 17.39%
Income Tax $170.8M $67.20M
% Of Pretax Income 22.01% 11.71%
Net Earnings $638.9M $520.6M
YoY Change 22.72% 32.7%
Net Earnings / Revenue 14.64% 13.01%
Basic Earnings Per Share $1.04 $0.86
Diluted Earnings Per Share $1.03 $0.85
COMMON SHARES
Basic Shares Outstanding 614.1M shares 606.0M shares
Diluted Shares Outstanding 619.8M shares 611.5M shares

Balance Sheet

Concept 2020 Q3 2019 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.797B $505.0M
YoY Change 255.84% 16.63%
Cash & Equivalents $1.797B $504.8M
Short-Term Investments
Other Short-Term Assets $320.0M $346.0M
YoY Change -7.51% -3.35%
Inventory $1.605B $1.700B
Prepaid Expenses
Receivables $1.633B $1.711B
Other Receivables $0.00 $0.00
Total Short-Term Assets $5.355B $4.261B
YoY Change 25.67% 1.79%
LONG-TERM ASSETS
Property, Plant & Equipment $3.557B $4.078B
YoY Change -12.78% 3.11%
Goodwill $14.01B $13.98B
YoY Change 0.19% -0.33%
Intangibles $7.150B $7.151B
YoY Change -0.01% -3.63%
Long-Term Investments
YoY Change
Other Assets $1.190B $839.0M
YoY Change 41.82% -12.88%
Total Long-Term Assets $25.91B $26.05B
YoY Change -0.56% -1.2%
TOTAL ASSETS
Total Short-Term Assets $5.355B $4.261B
Total Long-Term Assets $25.91B $26.05B
Total Assets $31.26B $30.31B
YoY Change 3.13% -0.79%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.184B $2.787B
YoY Change 14.26% 2.31%
Accrued Expenses $103.0M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $162.7M $1.296B
YoY Change -87.45% -3.95%
Long-Term Debt Due $2.626B $1.392B
YoY Change 88.63% -12.95%
Total Short-Term Liabilities $7.613B $6.903B
YoY Change 10.28% -3.96%
LONG-TERM LIABILITIES
Long-Term Debt $10.83B $11.62B
YoY Change -6.77% -8.25%
Other Long-Term Liabilities $1.549B $1.555B
YoY Change -0.37% 17.27%
Total Long-Term Liabilities $12.38B $13.18B
YoY Change -6.02% -5.83%
TOTAL LIABILITIES
Total Short-Term Liabilities $7.613B $6.903B
Total Long-Term Liabilities $12.38B $13.18B
Total Liabilities $21.92B $22.93B
YoY Change -4.41% -5.75%
SHAREHOLDERS EQUITY
Retained Earnings $16.31B
YoY Change
Common Stock $1.411B
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $6.370B
YoY Change
Treasury Stock Shares 143.3M shares 150.5M shares
Shareholders Equity $8.445B $7.383B
YoY Change
Total Liabilities & Shareholders Equity $31.26B $30.31B
YoY Change 3.13% -0.79%

Cashflow Statement

Concept 2020 Q3 2019 Q3
OPERATING ACTIVITIES
Net Income $638.9M $520.6M
YoY Change 22.72% 32.7%
Depreciation, Depletion And Amortization $146.1M $154.1M
YoY Change -5.19% -0.71%
Cash From Operating Activities $583.6M $572.1M
YoY Change 2.01% -5.81%
INVESTING ACTIVITIES
Capital Expenditures $117.0M $69.80M
YoY Change 67.62% -38.07%
Acquisitions
YoY Change
Other Investing Activities $5.600M $1.700M
YoY Change 229.41% -93.73%
Cash From Investing Activities -$123.0M -$83.70M
YoY Change 46.95% -40.04%
FINANCING ACTIVITIES
Cash Dividend Paid $302.8M $298.5M
YoY Change 1.44% 1.46%
Common Stock Issuance & Retirement, Net $0.00 $0.00
YoY Change -100.0%
Debt Paid & Issued, Net $555.1M $100.0K
YoY Change 555000.0% -50.0%
Cash From Financing Activities -$372.7M -$428.6M
YoY Change -13.04% 1.32%
NET CHANGE
Cash From Operating Activities $583.6M $572.1M
Cash From Investing Activities -$123.0M -83.70M
Cash From Financing Activities -$372.7M -$428.6M
Net Change In Cash $118.9M $54.80M
YoY Change 116.97% 22.32%
FREE CASH FLOW
Cash From Operating Activities $583.6M $572.1M
Capital Expenditures $117.0M $69.80M
Free Cash Flow $466.6M $502.3M
YoY Change -7.11% 1.54%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2020Q3 us-gaap Restructuring And Related Activities Completion Date
RestructuringAndRelatedActivitiesCompletionDate
2022-05-29
CY2019Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.1
CY2020Q3 dei Document Type
DocumentType
10-Q
CY2020Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
754600000 shares
CY2020Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.1
CY2020Q3 dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
CY2020Q3 dei Entity Central Index Key
EntityCentralIndexKey
0000040704
CY2020Q3 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2021
CY2020Q3 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2020Q3 dei Amendment Flag
AmendmentFlag
false
CY2020Q3 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--05-30
CY2019Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
1000000000 shares
CY2020Q3 dei Document Quarterly Report
DocumentQuarterlyReport
true
CY2020Q3 dei Document Period End Date
DocumentPeriodEndDate
2020-08-30
CY2020Q3 dei Document Transition Report
DocumentTransitionReport
false
CY2020Q3 dei Entity File Number
EntityFileNumber
001-01185
CY2020Q3 dei Entity Registrant Name
EntityRegistrantName
GENERAL MILLS, INC.
CY2020Q3 dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
CY2020Q3 dei Entity Tax Identification Number
EntityTaxIdentificationNumber
41-0274440
CY2020Q3 dei Entity Address Address Line1
EntityAddressAddressLine1
Number One General Mills Boulevard
CY2020Q3 dei Entity Address City Or Town
EntityAddressCityOrTown
Minneapolis
CY2020Q3 dei Entity Address State Or Province
EntityAddressStateOrProvince
MN
CY2020Q3 dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
55426
CY2020Q3 dei City Area Code
CityAreaCode
(763)
CY2020Q3 dei Local Phone Number
LocalPhoneNumber
764-7600
CY2020Q3 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2020Q3 dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
CY2020Q3 dei Entity Small Business
EntitySmallBusiness
false
CY2020Q3 dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
CY2020Q3 dei Entity Shell Company
EntityShellCompany
false
CY2020Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
611333854 shares
CY2020Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1796700000 USD
CY2020Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
853700000 USD
CY2020Q3 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
41300000 USD
CY2020Q3 us-gaap Profit Loss
ProfitLoss
646400000 USD
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
638900000 USD
CY2020Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.04
CY2020Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.03
CY2020Q3 us-gaap Profit Loss
ProfitLoss
646400000 USD
CY2020Q3 gis Comprehensive Income Net Of Tax Portions Attributable To Noncontrolling And Redeemable Interest
ComprehensiveIncomeNetOfTaxPortionsAttributableToNoncontrollingAndRedeemableInterest
73700000 USD
CY2020Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1796700000 USD
CY2020Q3 us-gaap Receivables Net Current
ReceivablesNetCurrent
1633000000.0 USD
CY2020Q3 us-gaap Inventory Net
InventoryNet
1605100000 USD
CY2020Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
320000000.0 USD
CY2020Q3 us-gaap Assets Current
AssetsCurrent
5354800000 USD
CY2020Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3557000000.0 USD
CY2020Q3 us-gaap Goodwill
Goodwill
14010100000 USD
CY2020Q3 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
7150400000 USD
CY2020Q3 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
1189900000 USD
CY2020Q3 us-gaap Deferred Income Tax Liabilities Net
DeferredIncomeTaxLiabilitiesNet
1924500000 USD
CY2020Q3 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
1549300000 USD
CY2020Q3 us-gaap Liabilities
Liabilities
21919400000 USD
CY2020Q3 us-gaap Redeemable Noncontrolling Interest Equity Other Fair Value
RedeemableNoncontrollingInterestEquityOtherFairValue
584900000 USD
CY2020Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
754600000 shares
CY2020Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.10
CY2020Q3 us-gaap Common Stock Value
CommonStockValue
75500000 USD
CY2020Q3 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
1335500000 USD
CY2020Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
16312500000 USD
CY2020Q3 us-gaap Treasury Stock Shares
TreasuryStockShares
143300000 shares
CY2020Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
144800000 shares
CY2020Q3 us-gaap Assets
Assets
31262200000 USD
CY2020Q3 us-gaap Accounts Payable Current
AccountsPayableCurrent
3184400000 USD
CY2020Q3 us-gaap Long Term Debt Current
LongTermDebtCurrent
2625700000 USD
CY2020Q3 us-gaap Short Term Borrowings
ShortTermBorrowings
162700000 USD
CY2020Q2 us-gaap Short Term Borrowings
ShortTermBorrowings
279000000.0 USD
CY2020Q3 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
1639900000 USD
CY2020Q3 us-gaap Liabilities Current
LiabilitiesCurrent
7612700000 USD
CY2020Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
10832900000 USD
CY2020Q3 us-gaap Treasury Stock Value
TreasuryStockValue
6370200000 USD
CY2020Q3 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-2908700000 USD
CY2020Q3 us-gaap Stockholders Equity
StockholdersEquity
8444600000 USD
CY2020Q3 us-gaap Minority Interest
MinorityInterest
313300000 USD
CY2020Q3 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
31262200000 USD
CY2020Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
30806700000 USD
CY2019Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
7367700000 USD
CY2020Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
1000000000 shares
CY2020Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.10
CY2020Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.49
CY2019Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.49
CY2019Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
7695600000 USD
CY2020Q3 us-gaap Profit Loss
ProfitLoss
646400000 USD
CY2020Q3 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
41300000 USD
CY2019Q3 us-gaap Pension And Other Postretirement Benefit Contributions
PensionAndOtherPostretirementBenefitContributions
6900000 USD
CY2020Q3 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
117000000.0 USD
CY2020Q3 gis Net Repayments From Advances To Joint Ventures
NetRepaymentsFromAdvancesToJointVentures
-700000 USD
CY2019Q3 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
1700000 USD
CY2020Q3 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
595200000 USD
CY2019Q3 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
0 USD
CY2020Q3 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
555100000 USD
CY2019Q3 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
100000 USD
CY2019Q3 us-gaap Payments Of Dividends
PaymentsOfDividends
298500000 USD
CY2020Q3 gis Distributions To Noncontrolling And Redeemable Interest Holders
DistributionsToNoncontrollingAndRedeemableInterestHolders
1100000 USD
CY2019Q3 gis Distributions To Noncontrolling And Redeemable Interest Holders
DistributionsToNoncontrollingAndRedeemableInterestHolders
2500000 USD
CY2020Q3 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-18000000.0 USD
CY2019Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
54800000 USD
CY2019Q3 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
37400000 USD
CY2019Q3 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
145300000 USD
CY2019Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
450000000.0 USD
CY2020Q3 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-88200000 USD
CY2019Q3 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-148000000.0 USD
CY2019Q3 us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
-14100000 USD
CY2020Q3 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 August 30, 2020, are not necessarily indicative of the results that may be expected for the fiscal year ending May 30, 2021. </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 31, 2020. 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 2021.</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 2021, </span><span style="color: #212529; font-family: 'Times New Roman', 'serif'; font-size: 10.00pt">we adopted new accounting requirements related to the measurement of credit losses on financial instruments, including trade receivables. The new standard and subsequent amendments replace the incurred loss impairment model with a forward-looking expected credit loss model, which will generally result in earlier recognition of credit losses. Our allowance for doubtful accounts represents our estimate of expected credit losses related to our trade receivables. We pool our trade receivables based on similar risk characteristics, such as geographic location, business channel, and other account data. To estimate our allowance for doubtful accounts, we leverage information on historical losses, asset-specific risk characteristics, current conditions, and reasonable and supportable forecasts of future conditions. Account balances are written off against the allowance when we deem the amount is uncollectible. We adopted the requirements of the new standard and subsequent amendments using the modified retrospective transition approach, and recorded a decrease to retained earnings of $</span><span style="color: #212529; font-family: 'Times New Roman', 'serif'; font-size: 10.00pt">5.7 million after-tax.</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>
CY2020Q3 us-gaap Goodwill
Goodwill
14010100000 USD
CY2020Q3 us-gaap Indefinite Lived Trade Names
IndefiniteLivedTradeNames
6606600000 USD
CY2020Q2 us-gaap Indefinite Lived Trade Names
IndefiniteLivedTradeNames
6561400000 USD
CY2020Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
809800000 USD
CY2020Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
777800000 USD
CY2020Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
243400000 USD
CY2020Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
534400000 USD
CY2020Q3 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
7150400000 USD
CY2020Q3 us-gaap Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
21160500000 USD
CY2020Q2 us-gaap Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
21019000000.0 USD
CY2020Q3 us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
86900000 USD
CY2020Q3 us-gaap Goodwill
Goodwill
14010100000 USD
CY2020Q3 us-gaap Indefinite Lived Intangible Assets Translation And Purchase Accounting Adjustments
IndefiniteLivedIntangibleAssetsTranslationAndPurchaseAccountingAdjustments
54600000 USD
CY2020Q3 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
7150400000 USD
CY2020Q3 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
436300000 USD
CY2020Q2 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
392200000 USD
CY2020Q3 us-gaap Inventory Finished Goods And Work In Process
InventoryFinishedGoodsAndWorkInProcess
1286400000 USD
CY2020Q3 us-gaap Other Inventory Purchased Goods
OtherInventoryPurchasedGoods
78500000 USD
CY2020Q2 us-gaap Other Inventory Purchased Goods
OtherInventoryPurchasedGoods
93600000 USD
CY2020Q3 us-gaap Inventory Lifo Reserve
InventoryLIFOReserve
196100000 USD
CY2020Q3 us-gaap Inventory Net
InventoryNet
1605100000 USD
CY2020Q3 us-gaap Gain Loss On Price Risk Derivative Instruments Not Designated As Hedging Instruments
GainLossOnPriceRiskDerivativeInstrumentsNotDesignatedAsHedgingInstruments
10400000 USD
CY2019Q3 us-gaap Gain Loss On Price Risk Derivative Instruments Not Designated As Hedging Instruments
GainLossOnPriceRiskDerivativeInstrumentsNotDesignatedAsHedgingInstruments
-20700000 USD
CY2020Q3 gis Net Loss Gain On Commodity Positions Reclassified From Unallocated Corporate Items To Segment Operating Profit
NetLossGainOnCommodityPositionsReclassifiedFromUnallocatedCorporateItemsToSegmentOperatingProfit
-12000000.0 USD
CY2019Q3 gis Net Loss Gain On Commodity Positions Reclassified From Unallocated Corporate Items To Segment Operating Profit
NetLossGainOnCommodityPositionsReclassifiedFromUnallocatedCorporateItemsToSegmentOperatingProfit
-11300000 USD
CY2020Q3 us-gaap Increase Decrease In Fair Value Of Hedged Item In Price Risk Fair Value Hedge1
IncreaseDecreaseInFairValueOfHedgedItemInPriceRiskFairValueHedge1
-6000000.0 USD
CY2019Q3 us-gaap Increase Decrease In Fair Value Of Hedged Item In Price Risk Fair Value Hedge1
IncreaseDecreaseInFairValueOfHedgedItemInPriceRiskFairValueHedge1
-5600000 USD
CY2020Q3 gis Net Mark To Market Valuation Of Certain Commodity Positions Recognized In Unallocated Corporate Items
NetMarkToMarketValuationOfCertainCommodityPositionsRecognizedInUnallocatedCorporateItems
16400000 USD
CY2019Q3 gis Net Mark To Market Valuation Of Certain Commodity Positions Recognized In Unallocated Corporate Items
NetMarkToMarketValuationOfCertainCommodityPositionsRecognizedInUnallocatedCorporateItems
-15000000.0 USD
CY2020Q3 gis Accounts Payable To Suppliers That Utilize Third Party Service
AccountsPayableToSuppliersThatUtilizeThirdPartyService
1337100000 USD
CY2020Q3 us-gaap Short Term Borrowings
ShortTermBorrowings
162700000 USD
CY2020Q2 us-gaap Short Term Borrowings
ShortTermBorrowings
279000000.0 USD
CY2020Q3 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
3600000000 USD
CY2020Q3 us-gaap Line Of Credit
LineOfCredit
100000000 USD
CY2020Q3 us-gaap Loans Payable Fair Value Disclosure
LoansPayableFairValueDisclosure
14939700000 USD
CY2020Q3 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-2908700000 USD
CY2019Q3 us-gaap Employee Service Share Based Compensation Tax Benefit From Exercise Of Stock Options
EmployeeServiceShareBasedCompensationTaxBenefitFromExerciseOfStockOptions
6600000 USD
CY2020Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
161400000 USD
CY2019Q3 gis Allocated Share Based Compensation Expense Including Restructuring And Noncash Items
AllocatedShareBasedCompensationExpenseIncludingRestructuringAndNoncashItems
28800000 USD
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
18700000 USD
CY2020Q3 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 12 to the Consolidated Financial Statements included in our Annual Report on Form 10-K for the fiscal year ended May 31, 2020.
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
8.03
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
7.10
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.007 pure
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.020 pure
CY2020Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P8Y6M
CY2019Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P8Y6M
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.195 pure
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.174 pure
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.033 pure
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.036 pure
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue
62000000.0 USD
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue
43800000 USD
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
638900000 USD
CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
614100000 shares
CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
619800000 shares
CY2020Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.04
CY2020Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.03
CY2020Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3100000 shares
CY2020Q3 us-gaap Interest Paid Net
InterestPaidNet
80400000 USD
CY2019Q3 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
32100000 USD
CY2019Q3 us-gaap Deferred Other Tax Expense Benefit
DeferredOtherTaxExpenseBenefit
53100000 USD
CY2020Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
853700000 USD

Files In Submission

Name View Source Status
0001193125-20-252378-index-headers.html Edgar Link pending
0001193125-20-252378-index.html Edgar Link pending
0001193125-20-252378.txt Edgar Link pending
0001193125-20-252378-xbrl.zip Edgar Link pending
d34111d10q.htm Edgar Link pending
d34111d10q_htm.xml Edgar Link completed
d34111dex311.htm Edgar Link pending
d34111dex312.htm Edgar Link pending
d34111dex321.htm Edgar Link pending
d34111dex322.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
gis-20200830.xsd Edgar Link pending
gis-20200830_cal.xml Edgar Link unprocessable
gis-20200830_def.xml Edgar Link unprocessable
gis-20200830_lab.xml Edgar Link unprocessable
gis-20200830_pre.xml Edgar Link unprocessable
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R45.htm Edgar Link pending
R46.htm Edgar Link pending
R47.htm Edgar Link pending
R48.htm Edgar Link pending
R49.htm Edgar Link pending
R5.htm Edgar Link pending
R50.htm Edgar Link pending
R51.htm Edgar Link pending
R52.htm Edgar Link pending
R53.htm Edgar Link pending
R54.htm Edgar Link pending
R55.htm Edgar Link pending
R56.htm Edgar Link pending
R57.htm Edgar Link pending
R58.htm Edgar Link pending
R59.htm Edgar Link pending
R6.htm Edgar Link pending
R60.htm Edgar Link pending
R61.htm Edgar Link pending
R62.htm Edgar Link pending
R63.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending