$GIS
GENERAL MILLS INC Stock $gis

$gis Overview Financials Valuation SEC Filings Company Website

2021 Q3 Form 10-Q Financial Statement

#000119312521279392 Filed on September 22, 2021

Income Statement

Concept	2021 Q3	2020 Q3
Revenue	$4.540B	$4.364B
YoY Change	4.03%	9.03%
Cost Of Revenue	$2.943B	$2.774B
YoY Change	6.09%	6.39%
Gross Profit	$1.597B	$1.590B
YoY Change	0.44%	14.46%
Gross Profit Margin	35.19%	36.44%
Selling, General & Admin	$757.4M	$736.2M
YoY Change	2.88%	2.41%
% of Gross Profit	47.41%	46.29%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$145.8M	$146.1M
YoY Change	-0.21%	-5.19%
% of Gross Profit	9.13%	9.19%
Operating Expenses	$757.4M	$736.2M
YoY Change	2.88%	2.41%
Operating Profit	$844.3M	$853.7M
YoY Change	-1.1%	28.88%
Interest Expense	$95.90M	$111.1M
YoY Change	-13.68%	-193.6%
% of Operating Profit	11.36%	13.01%
Other Income/Expense, Net
YoY Change
Pretax Income	$778.0M	$775.9M
YoY Change	0.27%	35.2%
Income Tax	$168.9M	$170.8M
% Of Pretax Income	21.71%	22.01%
Net Earnings	$627.0M	$638.9M
YoY Change	-1.86%	22.72%
Net Earnings / Revenue	13.81%	14.64%
Basic Earnings Per Share	$1.03	$1.04
Diluted Earnings Per Share	$1.02	$1.03
COMMON SHARES
Basic Shares Outstanding	610.4M shares	614.1M shares
Diluted Shares Outstanding	614.8M shares	619.8M shares

Balance Sheet

Concept	2021 Q3	2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments	$710.6M	$1.797B
YoY Change	-60.46%	255.84%
Cash & Equivalents	$710.6M	$1.797B
Short-Term Investments
Other Short-Term Assets	$1.983B	$320.0M
YoY Change	519.59%	-7.51%
Inventory	$1.935B	$1.605B
Prepaid Expenses
Receivables	$1.692B	$1.633B
Other Receivables	$0.00	$0.00
Total Short-Term Assets	$6.320B	$5.355B
YoY Change	18.03%	25.67%
LONG-TERM ASSETS
Property, Plant & Equipment	$3.343B	$3.557B
YoY Change	-6.01%	-12.78%
Goodwill	$14.55B	$14.01B
YoY Change	3.85%	0.19%
Intangibles	$6.831B	$7.150B
YoY Change	-4.47%	-0.01%
Long-Term Investments
YoY Change
Other Assets	$1.288B	$1.190B
YoY Change	8.24%	41.82%
Total Long-Term Assets	$26.01B	$25.91B
YoY Change	0.4%	-0.56%
TOTAL ASSETS
Total Short-Term Assets	$6.320B	$5.355B
Total Long-Term Assets	$26.01B	$25.91B
Total Assets	$32.33B	$31.26B
YoY Change	3.42%	3.13%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$3.288B	$3.184B
YoY Change	3.25%	14.26%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt	$1.036B	$162.7M
YoY Change	536.45%	-87.45%
Long-Term Debt Due	$1.591B	$2.626B
YoY Change	-39.43%	88.63%
Total Short-Term Liabilities	$8.135B	$7.613B
YoY Change	6.87%	10.28%
LONG-TERM LIABILITIES
Long-Term Debt	$10.33B	$10.83B
YoY Change	-4.67%	-6.77%
Other Long-Term Liabilities	$1.224B	$1.549B
YoY Change	-20.99%	-0.37%
Total Long-Term Liabilities	$11.55B	$12.38B
YoY Change	-6.71%	-6.02%
TOTAL LIABILITIES
Total Short-Term Liabilities	$8.135B	$7.613B
Total Long-Term Liabilities	$11.55B	$12.38B
Total Liabilities	$21.76B	$21.92B
YoY Change	-0.72%	-4.41%
SHAREHOLDERS EQUITY
Retained Earnings	$17.38B	$16.31B
YoY Change	6.57%
Common Stock	$1.421B	$1.411B
YoY Change	0.67%
Preferred Stock
YoY Change
Treasury Stock (at cost)	$6.715B	$6.370B
YoY Change	5.41%
Treasury Stock Shares	148.3M shares	143.3M shares
Shareholders Equity	$9.692B	$8.445B
YoY Change
Total Liabilities & Shareholders Equity	$32.33B	$31.26B
YoY Change	3.42%	3.13%

Cashflow Statement

Concept	2021 Q3	2020 Q3
OPERATING ACTIVITIES
Net Income	$627.0M	$638.9M
YoY Change	-1.86%	22.72%
Depreciation, Depletion And Amortization	$145.8M	$146.1M
YoY Change	-0.21%	-5.19%
Cash From Operating Activities	$369.8M	$583.6M
YoY Change	-36.63%	2.01%
INVESTING ACTIVITIES
Capital Expenditures	-$104.0M	$117.0M
YoY Change	-188.89%	67.62%
Acquisitions
YoY Change
Other Investing Activities	$1.300M	$5.600M
YoY Change	-76.79%	229.41%
Cash From Investing Activities	-$1.298B	-$123.0M
YoY Change	955.2%	46.95%
FINANCING ACTIVITIES
Cash Dividend Paid	$312.3M	$302.8M
YoY Change	3.14%	1.44%
Common Stock Issuance & Retirement, Net	$150.1M	$0.00
YoY Change
Debt Paid & Issued, Net	$612.1M	$555.1M
YoY Change	10.27%	555000.0%
Cash From Financing Activities	$195.0M	-$372.7M
YoY Change	-152.32%	-13.04%
NET CHANGE
Cash From Operating Activities	$369.8M	$583.6M
Cash From Investing Activities	-$1.298B	-$123.0M
Cash From Financing Activities	$195.0M	-$372.7M
Net Change In Cash	-$751.2M	$118.9M
YoY Change	-731.79%	116.97%
FREE CASH FLOW
Cash From Operating Activities	$369.8M	$583.6M
Capital Expenditures	-$104.0M	$117.0M
Free Cash Flow	$473.8M	$466.6M
YoY Change	1.54%	-7.11%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
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CY2021Q3	dei	Entity Central Index Key EntityCentralIndexKey	0000040704
CY2021Q3	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2022
CY2021Q3	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	Q1
CY2021Q3	dei	Amendment Flag AmendmentFlag	false
CY2021Q3	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--05-29
CY2021Q3	dei	Document Quarterly Report DocumentQuarterlyReport	true
CY2021Q3	dei	Entity Shell Company EntityShellCompany	false
CY2021Q2	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	754600000	shares
CY2020Q3	us-gaap	Disposal Group Including Discontinued Operation Cash And Cash Equivalents DisposalGroupIncludingDiscontinuedOperationCashAndCashEquivalents	0	USD
CY2021Q3	dei	Document Type DocumentType	10-Q
CY2021Q3	dei	Document Period End Date DocumentPeriodEndDate	2021-08-29
CY2021Q3	dei	Document Transition Report DocumentTransitionReport	false
CY2021Q3	dei	Entity Registrant Name EntityRegistrantName	GENERAL MILLS, INC.
CY2021Q3	dei	Entity File Number EntityFileNumber	001-01185
CY2021Q3	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	1.03
CY2020Q3	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	1.04
CY2021Q3	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	1.02
CY2020Q3	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	1.03
CY2021Q3	us-gaap	Profit Loss ProfitLoss	638200000	USD
CY2020Q3	us-gaap	Profit Loss ProfitLoss	646400000	USD
CY2021Q3	us-gaap	Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax	-23900000	USD
CY2020Q3	us-gaap	Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax	66200000	USD
CY2021Q3	us-gaap	Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax	1700000	USD
CY2020Q3	us-gaap	Restructuring Settlement And Impairment Provisions RestructuringSettlementAndImpairmentProvisions	500000	USD
CY2020Q3	us-gaap	Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax	-12100000	USD
CY2021Q3	us-gaap	Operating Income Loss OperatingIncomeLoss	844300000	USD
CY2020Q3	us-gaap	Operating Income Loss OperatingIncomeLoss	853700000	USD
CY2021Q3	us-gaap	Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax	-10600000	USD
CY2021Q3	us-gaap	Net Periodic Defined Benefits Expense Reversal Of Expense Excluding Service Cost Component NetPeriodicDefinedBenefitsExpenseReversalOfExpenseExcludingServiceCostComponent	-29600000	USD
CY2020Q3	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	736200000	USD
CY2021Q3	us-gaap	Restructuring Settlement And Impairment Provisions RestructuringSettlementAndImpairmentProvisions	-4300000	USD
CY2021Q3	us-gaap	Net Income Loss NetIncomeLoss	627000000.0	USD
CY2020Q3	us-gaap	Net Income Loss NetIncomeLoss	638900000	USD
CY2021Q3	dei	Entity Incorporation State Country Code EntityIncorporationStateCountryCode	DE
CY2021Q3	dei	Entity Tax Identification Number EntityTaxIdentificationNumber	41-0274440
CY2021Q3	dei	Entity Address Address Line1 EntityAddressAddressLine1	Number One General Mills Boulevard
CY2021Q3	dei	Entity Address City Or Town EntityAddressCityOrTown	Minneapolis
CY2021Q3	dei	Entity Address State Or Province EntityAddressStateOrProvince	MN
CY2021Q3	dei	Entity Address Postal Zip Code EntityAddressPostalZipCode	55426
CY2021Q3	dei	City Area Code CityAreaCode	(763)
CY2021Q3	dei	Local Phone Number LocalPhoneNumber	764-7600
CY2021Q3	dei	Entity Current Reporting Status EntityCurrentReportingStatus	Yes
CY2021Q3	dei	Entity Interactive Data Current EntityInteractiveDataCurrent	Yes
CY2021Q3	dei	Entity Filer Category EntityFilerCategory	Large Accelerated Filer
CY2021Q3	dei	Entity Small Business EntitySmallBusiness	false
CY2021Q3	dei	Entity Emerging Growth Company EntityEmergingGrowthCompany	false
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CY2021Q3	us-gaap	Treasury Stock Common Shares TreasuryStockCommonShares	148920876	shares
CY2021Q3	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	4539900000	USD
CY2021Q3	us-gaap	Cost Of Goods And Services Sold CostOfGoodsAndServicesSold	2942500000	USD
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CY2021Q3	us-gaap	Assets Of Disposal Group Including Discontinued Operation Current AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent	1248400000	USD
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CY2021Q3	us-gaap	Share Based Compensation ShareBasedCompensation	26800000	USD
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CY2021Q3	us-gaap	Deferred Income Tax Expense Benefit DeferredIncomeTaxExpenseBenefit	19600000	USD
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CY2020Q3	us-gaap	Restructuring Costs And Asset Impairment Charges RestructuringCostsAndAssetImpairmentCharges	-2700000	USD
CY2020Q3	us-gaap	Increase Decrease In Operating Capital IncreaseDecreaseInOperatingCapital	157800000	USD
CY2021Q3	us-gaap	Other Operating Activities Cash Flow Statement OtherOperatingActivitiesCashFlowStatement	-32500000	USD
CY2020Q3	us-gaap	Other Operating Activities Cash Flow Statement OtherOperatingActivitiesCashFlowStatement	-64100000	USD
CY2021Q3	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	369800000	USD
CY2020Q3	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	583600000	USD
CY2020Q3	us-gaap	Increase Decrease In Operating Capital IncreaseDecreaseInOperatingCapital	157800000	USD
CY2020Q3	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	117000000.0	USD
CY2021Q3	us-gaap	Payments To Acquire Businesses Gross PaymentsToAcquireBusinessesGross	1198600000	USD
CY2020Q3	us-gaap	Payments To Acquire Businesses Gross PaymentsToAcquireBusinessesGross	0	USD
CY2021Q3	gis	Net Repayments From Advances To Joint Ventures NetRepaymentsFromAdvancesToJointVentures	5700000	USD
CY2020Q3	gis	Net Repayments From Advances To Joint Ventures NetRepaymentsFromAdvancesToJointVentures	-700000	USD
CY2021Q3	us-gaap	Proceeds From Sale Of Property Plant And Equipment ProceedsFromSaleOfPropertyPlantAndEquipment	300000	USD
CY2020Q3	us-gaap	Proceeds From Sale Of Property Plant And Equipment ProceedsFromSaleOfPropertyPlantAndEquipment	300000	USD
CY2021Q3	us-gaap	Payments For Proceeds From Other Investing Activities PaymentsForProceedsFromOtherInvestingActivities	1300000	USD
CY2020Q3	us-gaap	Payments For Proceeds From Other Investing Activities PaymentsForProceedsFromOtherInvestingActivities	5600000	USD
CY2021Q3	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-1297900000	USD
CY2020Q3	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-123000000.0	USD
CY2021Q3	us-gaap	Proceeds From Repayments Of Short Term Debt ProceedsFromRepaymentsOfShortTermDebt	698700000	USD
CY2020Q3	us-gaap	Proceeds From Repayments Of Short Term Debt ProceedsFromRepaymentsOfShortTermDebt	-120900000	USD
CY2021Q3	us-gaap	Proceeds From Issuance Of Long Term Debt ProceedsFromIssuanceOfLongTermDebt	582200000	USD
CY2020Q3	us-gaap	Proceeds From Issuance Of Long Term Debt ProceedsFromIssuanceOfLongTermDebt	595200000	USD
CY2021Q3	us-gaap	Repayments Of Long Term Debt RepaymentsOfLongTermDebt	612100000	USD
CY2020Q3	us-gaap	Repayments Of Long Term Debt RepaymentsOfLongTermDebt	555100000	USD
CY2021Q3	us-gaap	Proceeds From Stock Options Exercised ProceedsFromStockOptionsExercised	7900000	USD
CY2020Q3	us-gaap	Proceeds From Stock Options Exercised ProceedsFromStockOptionsExercised	30000000.0	USD
CY2021Q3	us-gaap	Payments For Repurchase Of Common Stock PaymentsForRepurchaseOfCommonStock	150100000	USD
CY2020Q3	us-gaap	Payments For Repurchase Of Common Stock PaymentsForRepurchaseOfCommonStock	0	USD
CY2021Q3	us-gaap	Payments Of Dividends PaymentsOfDividends	312300000	USD
CY2020Q3	us-gaap	Payments Of Dividends PaymentsOfDividends	302800000	USD
CY2021Q3	gis	Distributions To Noncontrolling And Redeemable Interest Holders DistributionsToNoncontrollingAndRedeemableInterestHolders	1100000	USD
CY2020Q3	gis	Distributions To Noncontrolling And Redeemable Interest Holders DistributionsToNoncontrollingAndRedeemableInterestHolders	1100000	USD
CY2021Q3	us-gaap	Proceeds From Payments For Other Financing Activities ProceedsFromPaymentsForOtherFinancingActivities	-18200000	USD
CY2020Q3	us-gaap	Proceeds From Payments For Other Financing Activities ProceedsFromPaymentsForOtherFinancingActivities	-18000000.0	USD
CY2021Q3	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	195000000.0	USD
CY2020Q3	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	-372700000	USD
CY2021Q3	us-gaap	Effect Of Exchange Rate On Cash And Cash Equivalents EffectOfExchangeRateOnCashAndCashEquivalents	-18100000	USD
CY2020Q3	us-gaap	Effect Of Exchange Rate On Cash And Cash Equivalents EffectOfExchangeRateOnCashAndCashEquivalents	31000000.0	USD
CY2021Q3	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	-751200000	USD
CY2020Q3	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	118900000	USD
CY2021Q2	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	1505200000	USD
CY2020Q2	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	1677800000	USD
CY2021Q3	us-gaap	Disposal Group Including Discontinued Operation Cash And Cash Equivalents DisposalGroupIncludingDiscontinuedOperationCashAndCashEquivalents	43400000	USD
CY2021Q3	us-gaap	Cash And Cash Equivalents At Carrying Value Including Discontinued Operations CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations	754000000.0	USD
CY2020Q3	us-gaap	Cash And Cash Equivalents At Carrying Value Including Discontinued Operations CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations	1796700000	USD
CY2021Q3	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	145300000	USD
CY2020Q3	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	-7200000	USD
CY2021Q3	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	116100000	USD
CY2020Q3	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	158600000	USD
CY2021Q3	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	-39000000.0	USD
CY2020Q3	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	-88200000	USD
CY2021Q3	us-gaap	Increase Decrease In Accounts Payable Trade IncreaseDecreaseInAccountsPayableTrade	-214900000	USD
CY2020Q3	us-gaap	Increase Decrease In Accounts Payable Trade IncreaseDecreaseInAccountsPayableTrade	-45900000	USD
CY2021Q3	us-gaap	Increase Decrease In Other Current Liabilities IncreaseDecreaseInOtherCurrentLiabilities	47800000	USD
CY2020Q3	us-gaap	Increase Decrease In Other Current Liabilities IncreaseDecreaseInOtherCurrentLiabilities	-48700000	USD
CY2021Q3	us-gaap	Increase Decrease In Operating Capital IncreaseDecreaseInOperatingCapital	389500000	USD
CY2021Q3	us-gaap	Basis Of Accounting BasisOfAccounting	<p style="margin-top: 0; margin-bottom: 0; text-align: left"><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 29, 2021, are not necessarily indicative of the results that may be expected for the fiscal year ending May 29, 2022. </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 30, 2021. 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.</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">Certain terms used throughout this report are defined in the “Glossary” section below.</span></p>
CY2020Q3	gis	Restructuring Charges Reversal Including Restructuring Charges Associated With Cost Of Goods Sold RestructuringChargesReversalIncludingRestructuringChargesAssociatedWithCostOfGoodsSold	1000000.0	USD
CY2021Q2	us-gaap	Restructuring Reserve RestructuringReserve	148800000	USD
CY2021Q3	us-gaap	Restructuring Reserve Accrual Adjustment1 RestructuringReserveAccrualAdjustment1	100000	USD
CY2021Q3	us-gaap	Increase Decrease In Restructuring Reserve IncreaseDecreaseInRestructuringReserve	13500000	USD
CY2021Q3	us-gaap	Restructuring Reserve RestructuringReserve	135400000	USD
CY2021Q3	us-gaap	Goodwill Goodwill	14549900000	USD
CY2021Q2	us-gaap	Goodwill Goodwill	14062400000	USD
CY2021Q3	us-gaap	Indefinite Lived Trade Names IndefiniteLivedTradeNames	6541700000	USD
CY2021Q2	us-gaap	Indefinite Lived Trade Names IndefiniteLivedTradeNames	6628100000	USD
CY2021Q2	us-gaap	Intangible Assets Net Excluding Goodwill IntangibleAssetsNetExcludingGoodwill	7150600000	USD
CY2021Q3	us-gaap	Intangible Assets Net Including Goodwill IntangibleAssetsNetIncludingGoodwill	21380900000	USD
CY2021Q2	us-gaap	Intangible Assets Net Including Goodwill IntangibleAssetsNetIncludingGoodwill	21213000000.0	USD
CY2021Q3	us-gaap	Finite Lived Intangible Assets Amortization Expense Next Twelve Months FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths	20000000	USD
CY2021Q3	us-gaap	Finite Lived Intangible Assets Amortization Expense Year Two FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo	20000000	USD
CY2021Q3	us-gaap	Finite Lived Intangible Assets Gross FiniteLivedIntangibleAssetsGross	403100000	USD
CY2021Q2	us-gaap	Finite Lived Intangible Assets Gross FiniteLivedIntangibleAssetsGross	823400000	USD
CY2021Q3	us-gaap	Finite Lived Intangible Assets Accumulated Amortization FiniteLivedIntangibleAssetsAccumulatedAmortization	113800000	USD
CY2021Q2	us-gaap	Finite Lived Intangible Assets Accumulated Amortization FiniteLivedIntangibleAssetsAccumulatedAmortization	300900000	USD
CY2021Q3	us-gaap	Finite Lived Intangible Assets Net FiniteLivedIntangibleAssetsNet	289300000	USD
CY2021Q2	us-gaap	Finite Lived Intangible Assets Net FiniteLivedIntangibleAssetsNet	522500000	USD
CY2021Q3	us-gaap	Intangible Assets Net Excluding Goodwill IntangibleAssetsNetExcludingGoodwill	6831000000.0	USD
CY2021Q3	us-gaap	Finite Lived Intangible Assets Amortization Expense Year Three FiniteLivedIntangibleAssetsAmortizationExpenseYearThree	20000000	USD
CY2021Q3	us-gaap	Finite Lived Intangible Assets Amortization Expense Year Four FiniteLivedIntangibleAssetsAmortizationExpenseYearFour	20000000	USD
CY2021Q3	us-gaap	Finite Lived Intangible Assets Amortization Expense Year Five FiniteLivedIntangibleAssetsAmortizationExpenseYearFive	20000000	USD
CY2021Q2	us-gaap	Goodwill Goodwill	14062400000	USD
CY2021Q3	us-gaap	Goodwill Acquired During Period GoodwillAcquiredDuringPeriod	759400000	USD
CY2021Q3	gis	Reclassified To Assets Held Sale Goodwill ReclassifiedToAssetsHeldSaleGoodwill	226700000	USD
CY2021Q3	us-gaap	Goodwill Foreign Currency Translation Gain Loss GoodwillForeignCurrencyTranslationGainLoss	-45200000	USD
CY2021Q3	us-gaap	Goodwill Goodwill	14549900000	USD
CY2021Q2	us-gaap	Intangible Assets Net Excluding Goodwill IntangibleAssetsNetExcludingGoodwill	7150600000	USD
CY2021Q3	us-gaap	Indefinitelived Intangible Assets Acquired IndefinitelivedIntangibleAssetsAcquired	370000000.0	USD
CY2021Q3	gis	Reclssified To Assets Held For Sale Intangible Assets Excluding Goodwill ReclssifiedToAssetsHeldForSaleIntangibleAssetsExcludingGoodwill	647600000	USD
CY2021Q3	us-gaap	Indefinite Lived Intangible Assets Translation And Purchase Accounting Adjustments IndefiniteLivedIntangibleAssetsTranslationAndPurchaseAccountingAdjustments	-42000000.0	USD
CY2021Q3	us-gaap	Intangible Assets Net Excluding Goodwill IntangibleAssetsNetExcludingGoodwill	6831000000.0	USD
CY2020Q4	us-gaap	Goodwill And Intangible Asset Impairment GoodwillAndIntangibleAssetImpairment	0	USD
CY2021Q3	gis	Net Mark To Market Valuation Of Certain Commodity Positions Recognized In Unallocated Corporate Items NetMarkToMarketValuationOfCertainCommodityPositionsRecognizedInUnallocatedCorporateItems	24100000	USD
CY2020Q3	gis	Accounts Payable To Suppliers That Utilize Third Party Service AccountsPayableToSuppliersThatUtilizeThirdPartyService	1337100000	USD
CY2021Q3	us-gaap	Gain Loss On Price Risk Derivative Instruments Not Designated As Hedging Instruments GainLossOnPriceRiskDerivativeInstrumentsNotDesignatedAsHedgingInstruments	30400000	USD
CY2021Q3	gis	Net Loss Gain On Commodity Positions Reclassified From Unallocated Corporate Items To Segment Operating Profit NetLossGainOnCommodityPositionsReclassifiedFromUnallocatedCorporateItemsToSegmentOperatingProfit	34700000	USD
CY2020Q3	us-gaap	Increase Decrease In Fair Value Of Hedged Item In Price Risk Fair Value Hedge1 IncreaseDecreaseInFairValueOfHedgedItemInPriceRiskFairValueHedge1	-6000000.0	USD
CY2021Q2	us-gaap	Inventory Raw Materials And Supplies InventoryRawMaterialsAndSupplies	411900000	USD
CY2021Q3	us-gaap	Other Inventory Purchased Goods OtherInventoryPurchasedGoods	128000000.0	USD
CY2021Q3	us-gaap	Inventory Lifo Reserve InventoryLIFOReserve	258400000	USD
CY2021Q2	us-gaap	Inventory Lifo Reserve InventoryLIFOReserve	209500000	USD
CY2021Q3	us-gaap	Inventory Net InventoryNet	1935200000	USD
CY2021Q2	us-gaap	Inventory Net InventoryNet	1820500000	USD
CY2021Q1	gis	Debt Exchange Participation Incentive Cash Payment DebtExchangeParticipationIncentiveCashPayment	201400000	USD
CY2021Q3	us-gaap	Short Term Borrowings ShortTermBorrowings	1035500000	USD
CY2021Q3	us-gaap	Line Of Credit Facility Maximum Borrowing Capacity LineOfCreditFacilityMaximumBorrowingCapacity	3500000000	USD
CY2021Q3	us-gaap	Line Of Credit LineOfCredit	500000000	USD
CY2021Q3	us-gaap	Long Term Debt And Capital Lease Obligations Including Current Maturities LongTermDebtAndCapitalLeaseObligationsIncludingCurrentMaturities	11917400000	USD
CY2021Q3	gis	Noncontrolling Interests Covenant Compliancee NoncontrollingInterestsCovenantCompliancee	Our noncontrolling interests contain restrictive covenants. As of August 29, 2021, we were in compliance with all of these covenants.
CY2021Q3	us-gaap	Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustment Net Of Tax AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax	-819400000	USD
CY2021Q2	us-gaap	Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustment Net Of Tax AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax	-830200000	USD
CY2021Q3	us-gaap	Accumulated Other Comprehensive Income Loss Cumulative Changes In Net Gain Loss From Cash Flow Hedges Effect Net Of Tax AccumulatedOtherComprehensiveIncomeLossCumulativeChangesInNetGainLossFromCashFlowHedgesEffectNetOfTax	-6200000	USD
CY2021Q2	us-gaap	Accumulated Other Comprehensive Income Loss Cumulative Changes In Net Gain Loss From Cash Flow Hedges Effect Net Of Tax AccumulatedOtherComprehensiveIncomeLossCumulativeChangesInNetGainLossFromCashFlowHedgesEffectNetOfTax	-18500000	USD
CY2021Q3	us-gaap	Defined Benefit Plan Accumulated Other Comprehensive Income Net Gains Losses After Tax DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeNetGainsLossesAfterTax	-1693000000.0	USD
CY2021Q2	us-gaap	Defined Benefit Plan Accumulated Other Comprehensive Income Net Prior Service Cost Credit After Tax DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeNetPriorServiceCostCreditAfterTax	-137900000	USD
CY2021Q3	us-gaap	Accumulated Other Comprehensive Income Loss Net Of Tax AccumulatedOtherComprehensiveIncomeLossNetOfTax	-2397700000	USD
CY2021Q2	us-gaap	Accumulated Other Comprehensive Income Loss Net Of Tax AccumulatedOtherComprehensiveIncomeLossNetOfTax	-2429200000	USD
CY2021Q3	gis	Allocated Share Based Compensation Expense Including Restructuring And Noncash Items AllocatedShareBasedCompensationExpenseIncludingRestructuringAndNoncashItems	33600000	USD
CY2020Q3	gis	Allocated Share Based Compensation Expense Including Restructuring And Noncash Items AllocatedShareBasedCompensationExpenseIncludingRestructuringAndNoncashItems	28300000	USD
CY2021Q3	us-gaap	Employee Service Share Based Compensation Tax Benefit From Exercise Of Stock Options EmployeeServiceShareBasedCompensationTaxBenefitFromExerciseOfStockOptions	4700000	USD
CY2020Q3	us-gaap	Employee Service Share Based Compensation Tax Benefit From Exercise Of Stock Options EmployeeServiceShareBasedCompensationTaxBenefitFromExerciseOfStockOptions	6200000	USD
CY2021Q3	us-gaap	Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized	150600000	USD
CY2021Q3	us-gaap	Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1 EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1	P26M
CY2021Q3	us-gaap	Interest Paid Net InterestPaidNet	69900000	USD
CY2021Q3	us-gaap	Proceeds From Stock Options Exercised ProceedsFromStockOptionsExercised	7900000	USD
CY2020Q3	us-gaap	Proceeds From Stock Options Exercised ProceedsFromStockOptionsExercised	30000000.0	USD
CY2021Q3	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue	5100000	USD
CY2020Q3	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue	18700000	USD
CY2021Q3	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 30, 2021.
CY2021Q3	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue	8.77
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
CY2021Q3	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate	0.015	pure
CY2020Q3	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate	0.007	pure
CY2021Q3	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1 SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1	P8Y6M
CY2020Q3	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1 SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1	P8Y6M
CY2021Q3	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate	0.202	pure
CY2020Q3	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate	0.195	pure
CY2021Q3	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate	0.034	pure
CY2020Q3	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate	0.033	pure
CY2021Q3	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue	69500000	USD
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
CY2020Q3	us-gaap	Interest Paid Net InterestPaidNet	80400000	USD
CY2021Q3	us-gaap	Income Taxes Paid Net IncomeTaxesPaidNet	33100000	USD
CY2021Q3	us-gaap	Net Income Loss NetIncomeLoss	627000000.0	USD
CY2020Q3	us-gaap	Net Income Loss NetIncomeLoss	638900000	USD
CY2021Q3	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	610400000	shares
CY2020Q3	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	614100000	shares
CY2021Q3	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	614800000	shares
CY2020Q3	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	619800000	shares
CY2021Q3	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	1.03
CY2020Q3	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	1.04
CY2021Q3	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	1.02
CY2020Q3	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	1.03
CY2021Q3	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	4600000	shares
CY2020Q3	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	3100000	shares
CY2020Q3	us-gaap	Income Taxes Paid Net IncomeTaxesPaidNet	76200000	USD
CY2021Q3	us-gaap	Loss Contingency Disclosures LossContingencyDisclosures	<p style="margin-top: 0; margin-bottom: 0; text-align: left"><span style="font-family: 'Times New Roman', 'serif'; font-size: 10.00pt; text-decoration: underline">(16) Contingencies</span></p><p style="margin-top: 0; margin-bottom: 0; text-align: left"><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">During fiscal 2020, we received notice from the tax authorities of the State of São Paulo, Brazil regarding our compliance with its state sales tax requirements. As a result, we have been assessed additional state sales taxes, interest, and penalties. We believe that we have meritorious defenses against this claim and will vigorously defend our position. As of August 29, 2021, we are unable to estimate any possible loss and have not recorded a loss contingency for this matter.</span></p>
CY2021Q3	us-gaap	Restructuring Settlement And Impairment Provisions RestructuringSettlementAndImpairmentProvisions	-4300000	USD
CY2020Q3	us-gaap	Restructuring Settlement And Impairment Provisions RestructuringSettlementAndImpairmentProvisions	500000	USD
CY2021Q3	us-gaap	Operating Income Loss OperatingIncomeLoss	844300000	USD
CY2020Q3	us-gaap	Operating Income Loss OperatingIncomeLoss	853700000	USD
CY2021Q3	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	4539900000	USD

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$GIS
GENERAL MILLS INC Stock $gis

2021 Q3 Form 10-Q Financial Statement

#000119312521279392 Filed on September 22, 2021

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$GIS GENERAL MILLS INC Stock $gis

2021 Q3 Form 10-Q Financial Statement

#000119312521279392 Filed on September 22, 2021

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$GIS
GENERAL MILLS INC Stock $gis