2024 Q2 Form 10-K Financial Statement

#000119312524168943 Filed on June 26, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024
Revenue $4.714B $2.038B
YoY Change -6.28% 4.11%
Cost Of Revenue $3.026B $12.93B
YoY Change -8.28% -4.6%
Gross Profit $1.688B -$10.89B
YoY Change -2.31% -6.07%
Gross Profit Margin 35.82% -534.27%
Selling, General & Admin $798.3M $3.259B
YoY Change -8.09% -6.9%
% of Gross Profit 47.28%
Research & Development $257.8M
YoY Change 0.08%
% of Gross Profit
Depreciation & Amortization $140.5M $552.7M
YoY Change 3.61% 1.12%
% of Gross Profit 8.32%
Operating Expenses $798.3M $3.517B
YoY Change -8.09% -6.42%
Operating Profit $890.0M $3.432B
YoY Change 3.54% -0.06%
Interest Expense -$122.7M $479.2M
YoY Change 17.3% 25.41%
% of Operating Profit -13.79% 13.96%
Other Income/Expense, Net $20.10M $75.80M
YoY Change
Pretax Income $676.6M $2.907B
YoY Change -8.25% 6.08%
Income Tax $136.0M $594.5M
% Of Pretax Income 20.1% 20.45%
Net Earnings $557.5M $2.497B
YoY Change -9.33% -3.75%
Net Earnings / Revenue 11.83% 122.51%
Basic Earnings Per Share $0.98 $4.34
Diluted Earnings Per Share $0.98 $4.31
COMMON SHARES
Basic Shares Outstanding 558.1M shares 575.5M shares
Diluted Shares Outstanding 579.5M shares

Balance Sheet

Concept 2024 Q2 2024
SHORT-TERM ASSETS
Cash & Short-Term Investments $424.9M $418.0M
YoY Change -40.2% -40.52%
Cash & Equivalents $418.0M $418.0M
Short-Term Investments $6.900M $0.00
Other Short-Term Assets $568.5M $568.5M
YoY Change -22.73% 70.82%
Inventory $1.898B $1.898B
Prepaid Expenses $266.1M
Receivables $1.696B $1.696B
Other Receivables $0.00 $0.00
Total Short-Term Assets $4.581B $4.581B
YoY Change -11.5% -11.5%
LONG-TERM ASSETS
Property, Plant & Equipment $3.864B $3.864B
YoY Change 6.26% -2.82%
Goodwill $14.75B
YoY Change 1.65%
Intangibles $6.980B
YoY Change 0.18%
Long-Term Investments $397.9M
YoY Change -13.87%
Other Assets $1.295B $1.295B
YoY Change 11.57% 261.29%
Total Long-Term Assets $26.89B $26.89B
YoY Change 2.34% 2.34%
TOTAL ASSETS
Total Short-Term Assets $4.581B $4.581B
Total Long-Term Assets $26.89B $26.89B
Total Assets $31.47B $31.47B
YoY Change 0.06% 0.06%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.988B $3.988B
YoY Change -4.92% -4.92%
Accrued Expenses $1.079B
YoY Change -5.88%
Deferred Revenue
YoY Change
Short-Term Debt $11.80M $11.80M
YoY Change -62.78% -62.78%
Long-Term Debt Due $1.614B $1.614B
YoY Change -5.56% -5.56%
Total Short-Term Liabilities $7.033B $7.033B
YoY Change -6.67% -6.67%
LONG-TERM LIABILITIES
Long-Term Debt $11.30B $11.30B
YoY Change 13.44% 13.44%
Other Long-Term Liabilities $1.284B $1.284B
YoY Change 12.59% 12.59%
Total Long-Term Liabilities $1.284B $12.59B
YoY Change 12.59% 13.35%
TOTAL LIABILITIES
Total Short-Term Liabilities $7.033B $7.033B
Total Long-Term Liabilities $1.284B $12.59B
Total Liabilities $21.82B $22.07B
YoY Change 5.15% 5.1%
SHAREHOLDERS EQUITY
Retained Earnings $20.97B
YoY Change 5.71%
Common Stock $1.303B
YoY Change 0.35%
Preferred Stock
YoY Change
Treasury Stock (at cost) $10.36B
YoY Change 23.16%
Treasury Stock Shares
Shareholders Equity $9.397B $9.397B
YoY Change
Total Liabilities & Shareholders Equity $31.47B $31.47B
YoY Change 0.06% 0.06%

Cashflow Statement

Concept 2024 Q2 2024
OPERATING ACTIVITIES
Net Income $557.5M $2.497B
YoY Change -9.33% -3.75%
Depreciation, Depletion And Amortization $140.5M $552.7M
YoY Change 3.61% 1.12%
Cash From Operating Activities $863.7M $3.303B
YoY Change 14.91% 18.86%
INVESTING ACTIVITIES
Capital Expenditures $288.5M $774.1M
YoY Change -14.7% 12.27%
Acquisitions
YoY Change
Other Investing Activities -$401.3M -$30.50M
YoY Change 19009.52% -501.32%
Cash From Investing Activities -$689.8M -$1.197B
YoY Change 102.7% 245.67%
FINANCING ACTIVITIES
Cash Dividend Paid $1.363B
YoY Change 5.86%
Common Stock Issuance & Retirement, Net $2.002B
YoY Change 42.66%
Debt Paid & Issued, Net $901.5M
YoY Change -36.59%
Cash From Financing Activities -344.7M -$2.272B
YoY Change -23.14% -5.48%
NET CHANGE
Cash From Operating Activities 863.7M $3.303B
Cash From Investing Activities -689.8M -$1.197B
Cash From Financing Activities -344.7M -$2.272B
Net Change In Cash -170.8M -$167.5M
YoY Change 359.14% -1140.37%
FREE CASH FLOW
Cash From Operating Activities $863.7M $3.303B
Capital Expenditures $288.5M $774.1M
Free Cash Flow $575.2M $2.529B
YoY Change 39.14% 21.03%

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IncreaseDecreaseInAccountsPayableTrade
199800000 usd
CY2022 us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
456700000 usd
CY2024 us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
-191000000.0 usd
CY2023 us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
49900000 usd
CY2022 us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
108100000 usd
CY2024 us-gaap Increase Decrease In Operating Capital
IncreaseDecreaseInOperatingCapital
-10600000 usd
CY2023 us-gaap Increase Decrease In Operating Capital
IncreaseDecreaseInOperatingCapital
48900000 usd
CY2024 us-gaap Basis Of Accounting
BasisOfAccounting
<div id="TextBlockContainer2870" style="position:relative;line-height:normal;width:737px;height:170px;"><div id="TextContainer2870" style="position:relative;width:737px;z-index:1;"><div id="a11816" style="position:absolute;font-family:'Times New Roman';font-weight:bold;left:4px;top:0px;">NOTE 1. BASIS OF PRESENTATION<div style="display:inline-block;width:6px"> </div>AND RECLASSIFICATIONS </div><div id="a11819" style="position:absolute;font-family:'Times New Roman';font-weight:bold;font-style:italic;left:4px;top:31px;">Basis of Presentation </div><div id="a11821" style="position:absolute;font-family:'Times New Roman';left:4px;top:46px;">Our Consolidated Financial<div style="display:inline-block;width:5px"> </div>Statements include the<div style="display:inline-block;width:5px"> </div>accounts of General<div style="display:inline-block;width:5px"> </div>Mills, Inc. and all<div style="display:inline-block;width:5px"> </div>subsidiaries in which<div style="display:inline-block;width:5px"> </div>we have a controlling </div><div id="a11824" style="position:absolute;font-family:'Times New Roman';left:4px;top:61px;">financial<div style="display:inline-block;width:6px"> </div>interest.<div style="display:inline-block;width:6px"> </div>Intercompany<div style="display:inline-block;width:6px"> </div>transactions<div style="display:inline-block;width:6px"> </div>and<div style="display:inline-block;width:6px"> </div>accounts,<div style="display:inline-block;width:6px"> </div>including<div style="display:inline-block;width:6px"> </div>any<div style="display:inline-block;width:6px"> </div>noncontrolling<div style="display:inline-block;width:6px"> </div>and<div style="display:inline-block;width:6px"> </div>redeemable<div style="display:inline-block;width:6px"> </div>interests’<div style="display:inline-block;width:6px"> </div>share<div style="display:inline-block;width:6px"> </div>of<div style="display:inline-block;width:6px"> </div>those </div><div id="a11826" style="position:absolute;font-family:'Times New Roman';left:4px;top:77px;">transactions, are eliminated in consolidation. </div><div id="a11829" style="position:absolute;font-family:'Times New Roman';left:4px;top:107px;">Our fiscal year ends on the last Sunday in May.<div style="display:inline-block;width:5px"> </div>Our India business is on an April fiscal year end. </div><div id="a11834" style="position:absolute;font-family:'Times New Roman';left:4px;top:138px;">Certain<div style="display:inline-block;width:8px"> </div>reclassifications<div style="display:inline-block;width:8px"> </div>to<div style="display:inline-block;width:8px"> </div>our<div style="display:inline-block;width:8px"> </div>previously<div style="display:inline-block;width:8px"> </div>reported<div style="display:inline-block;width:8px"> </div>financial<div style="display:inline-block;width:8px"> </div>information<div style="display:inline-block;width:8px"> </div>have<div style="display:inline-block;width:8px"> </div>been<div style="display:inline-block;width:8px"> </div>made<div style="display:inline-block;width:8px"> </div>to<div style="display:inline-block;width:8px"> </div>conform<div style="display:inline-block;width:8px"> </div>to<div style="display:inline-block;width:8px"> </div>the<div style="display:inline-block;width:8px"> </div>current<div style="display:inline-block;width:8px"> </div>period </div><div id="a11835" style="position:absolute;font-family:'Times New Roman';left:4px;top:153px;">presentation.</div></div></div>
CY2024 us-gaap Use Of Estimates
UseOfEstimates
<div id="TextBlockContainer2948" style="position:relative;line-height:normal;width:737px;height:92px;"><div id="TextContainer2948" style="position:relative;width:737px;z-index:1;"><div id="a12250" style="position:absolute;font-family:'Times New Roman';font-weight:bold;font-style:italic;left:4px;top:0px;">Use of Estimates<div style="display:inline-block;width:4px"> </div></div><div id="a12252" style="position:absolute;font-family:'Times New Roman';left:4px;top:15px;">Preparing<div style="display:inline-block;width:5px"> </div>our<div style="display:inline-block;width:5px"> </div>Consolidated<div style="display:inline-block;width:5px"> </div>Financial<div style="display:inline-block;width:5px"> </div>Statements<div style="display:inline-block;width:5px"> </div>in<div style="display:inline-block;width:5px"> </div>conformity<div style="display:inline-block;width:5px"> </div>with<div style="display:inline-block;width:5px"> </div>accounting<div style="display:inline-block;width:5px"> </div>principles<div style="display:inline-block;width:5px"> </div>generally<div style="display:inline-block;width:5px"> </div>accepted<div style="display:inline-block;width:5px"> </div>in<div style="display:inline-block;width:5px"> </div>the<div style="display:inline-block;width:5px"> </div>United<div style="display:inline-block;width:5px"> </div>States </div><div id="a12254" style="position:absolute;font-family:'Times New Roman';left:4px;top:31px;">requires<div style="display:inline-block;width:5px"> </div>us to<div style="display:inline-block;width:6px"> </div>make estimates<div style="display:inline-block;width:6px"> </div>and assumptions<div style="display:inline-block;width:6px"> </div>that affect<div style="display:inline-block;width:6px"> </div>reported amounts<div style="display:inline-block;width:6px"> </div>of assets<div style="display:inline-block;width:6px"> </div>and<div style="display:inline-block;width:5px"> </div>liabilities, disclosures<div style="display:inline-block;width:6px"> </div>of contingent<div style="display:inline-block;width:6px"> </div>assets </div><div id="a12256" style="position:absolute;font-family:'Times New Roman';left:4px;top:46px;">and liabilities<div style="display:inline-block;width:5px"> </div>at the<div style="display:inline-block;width:5px"> </div>date of<div style="display:inline-block;width:5px"> </div>the financial<div style="display:inline-block;width:5px"> </div>statements, and<div style="display:inline-block;width:5px"> </div>the reported<div style="display:inline-block;width:5px"> </div>amounts of<div style="display:inline-block;width:5px"> </div>revenues and<div style="display:inline-block;width:5px"> </div>expenses during<div style="display:inline-block;width:5px"> </div>the reporting<div style="display:inline-block;width:5px"> </div>period. </div><div id="a12258" style="position:absolute;font-family:'Times New Roman';left:4px;top:61px;">These<div style="display:inline-block;width:5px"> </div>estimates<div style="display:inline-block;width:5px"> </div>include<div style="display:inline-block;width:5px"> </div>our<div style="display:inline-block;width:5px"> </div>accounting<div style="display:inline-block;width:5px"> </div>for<div style="display:inline-block;width:5px"> </div>revenue<div style="display:inline-block;width:5px"> </div>recognition,<div style="display:inline-block;width:5px"> </div>valuation<div style="display:inline-block;width:5px"> </div>of<div style="display:inline-block;width:5px"> </div>long-lived<div style="display:inline-block;width:5px"> </div>assets, intangible<div style="display:inline-block;width:6px"> </div>assets,<div style="display:inline-block;width:5px"> </div>income<div style="display:inline-block;width:5px"> </div>taxes,<div style="display:inline-block;width:5px"> </div>and </div><div id="a12263" style="position:absolute;font-family:'Times New Roman';left:4px;top:77px;">defined benefit pension, other postretirement benefit and postemployment<div style="display:inline-block;width:5px"> </div>benefit plans. Actual results could differ from our<div style="display:inline-block;width:5px"> </div>estimates.</div></div></div>
CY2024 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
117100000 usd
CY2024 us-gaap Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
103100000 usd
CY2024 us-gaap Payments For Restructuring
PaymentsForRestructuring
35500000 usd
CY2023 us-gaap Payments For Restructuring
PaymentsForRestructuring
36600000 usd
CY2023 gis Restructuring Charges Reversal Including Restructuring Charges Associated With Cost Of Goods Sold
RestructuringChargesReversalIncludingRestructuringChargesAssociatedWithCostOfGoodsSold
61000000.0 usd
CY2022 gis Restructuring Charges Reversal Including Restructuring Charges Associated With Cost Of Goods Sold
RestructuringChargesReversalIncludingRestructuringChargesAssociatedWithCostOfGoodsSold
-23200000 usd
CY2024 gis Restructuring Charges Reversal Including Restructuring Charges Associated With Cost Of Goods Sold
RestructuringChargesReversalIncludingRestructuringChargesAssociatedWithCostOfGoodsSold
259000000.0 usd
CY2023 gis Restructuring Charges Reversal Including Restructuring Charges Associated With Cost Of Goods Sold
RestructuringChargesReversalIncludingRestructuringChargesAssociatedWithCostOfGoodsSold
61000000.0 usd
CY2022 gis Restructuring Charges Reversal Including Restructuring Charges Associated With Cost Of Goods Sold
RestructuringChargesReversalIncludingRestructuringChargesAssociatedWithCostOfGoodsSold
-23200000 usd
CY2024 gis Other Project Related Costs
OtherProjectRelatedCosts
2000000.0 usd
CY2023 gis Other Project Related Costs
OtherProjectRelatedCosts
2400000 usd
CY2022 gis Other Project Related Costs
OtherProjectRelatedCosts
0 usd
CY2021Q2 us-gaap Restructuring Reserve
RestructuringReserve
148800000 usd
CY2022 us-gaap Restructuring Reserve Translation And Other Adjustment
RestructuringReserveTranslationAndOtherAdjustment
3400000 usd
CY2022 us-gaap Restructuring Reserve Accrual Adjustment1
RestructuringReserveAccrualAdjustment1
-34000000.0 usd
CY2022 us-gaap Increase Decrease In Restructuring Reserve
IncreaseDecreaseInRestructuringReserve
81400000 usd
CY2023 us-gaap Restructuring Reserve Translation And Other Adjustment
RestructuringReserveTranslationAndOtherAdjustment
41700000 usd
CY2023 us-gaap Increase Decrease In Restructuring Reserve
IncreaseDecreaseInRestructuringReserve
30800000 usd
CY2023Q2 us-gaap Restructuring Reserve
RestructuringReserve
47700000 usd
CY2024 us-gaap Restructuring Reserve Translation And Other Adjustment
RestructuringReserveTranslationAndOtherAdjustment
100000 usd
CY2024 us-gaap Increase Decrease In Restructuring Reserve
IncreaseDecreaseInRestructuringReserve
33000000.0 usd
CY2024Q2 us-gaap Restructuring Reserve
RestructuringReserve
14800000 usd
CY2024 us-gaap Revenues
Revenues
2037800000 usd
CY2023 us-gaap Revenues
Revenues
1957400000 usd
CY2022 us-gaap Revenues
Revenues
2134300000 usd
CY2024 gis Equity Method Investments Summarized Financial Information Income Loss From Continuing Operations Before Income Taxes
EquityMethodInvestmentsSummarizedFinancialInformationIncomeLossFromContinuingOperationsBeforeIncomeTaxes
145200000 usd
CY2023 gis Equity Method Investments Summarized Financial Information Income Loss From Continuing Operations Before Income Taxes
EquityMethodInvestmentsSummarizedFinancialInformationIncomeLossFromContinuingOperationsBeforeIncomeTaxes
169300000 usd
CY2022 gis Equity Method Investments Summarized Financial Information Income Loss From Continuing Operations Before Income Taxes
EquityMethodInvestmentsSummarizedFinancialInformationIncomeLossFromContinuingOperationsBeforeIncomeTaxes
249900000 usd
CY2024Q2 us-gaap Goodwill
Goodwill
14750700000 usd
CY2024Q2 us-gaap Indefinite Lived Trade Names
IndefiniteLivedTradeNames
6728600000 usd
CY2023Q2 us-gaap Indefinite Lived Trade Names
IndefiniteLivedTradeNames
6712400000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
402200000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
386300000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
150900000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
131100000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
251300000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
255200000 usd
CY2024Q2 us-gaap Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
21730600000 usd
CY2023Q2 us-gaap Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
21478800000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
20000000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
20000000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
20000000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
20000000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
20000000 usd
CY2021Q2 us-gaap Goodwill
Goodwill
14062400000 usd
CY2022 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
762300000 usd
CY2022 us-gaap Goodwill Written Off Related To Sale Of Business Unit
GoodwillWrittenOffRelatedToSaleOfBusinessUnit
201800000 usd
CY2022 gis Reclassified To Assets Held Sale Goodwill
ReclassifiedToAssetsHeldSaleGoodwill
-130000000.0 usd
CY2022 us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
-114400000 usd
CY2022Q2 us-gaap Goodwill
Goodwill
14378500000 usd
CY2023 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
156800000 usd
CY2023 us-gaap Goodwill Written Off Related To Sale Of Business Unit
GoodwillWrittenOffRelatedToSaleOfBusinessUnit
2400000 usd
CY2023 us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
-21700000 usd
CY2024 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
345000000.0 usd
CY2024 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
117100000 usd
CY2024 us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
11600000 usd
CY2021Q2 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
7150600000 usd
CY2022 us-gaap Indefinitelived Intangible Assets Acquired
IndefinitelivedIntangibleAssetsAcquired
370000000.0 usd
CY2022 us-gaap Indefinite Lived Intangible Assets Written Off Related To Sale Of Business Unit
IndefiniteLivedIntangibleAssetsWrittenOffRelatedToSaleOfBusinessUnit
621800000 usd
CY2023 us-gaap Indefinitelived Intangible Assets Acquired
IndefinitelivedIntangibleAssetsAcquired
3800000 usd
CY2023 us-gaap Indefinite Lived Intangible Assets Written Off Related To Sale Of Business Unit
IndefiniteLivedIntangibleAssetsWrittenOffRelatedToSaleOfBusinessUnit
3600000 usd
CY2023 us-gaap Indefinite Lived Intangible Assets Translation And Purchase Accounting Adjustments
IndefiniteLivedIntangibleAssetsTranslationAndPurchaseAccountingAdjustments
-32500000 usd
CY2024 us-gaap Indefinitelived Intangible Assets Acquired
IndefinitelivedIntangibleAssetsAcquired
132600000 usd
CY2024 us-gaap Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
103100000 usd
CY2024 us-gaap Indefinite Lived Intangible Assets Translation And Purchase Accounting Adjustments
IndefiniteLivedIntangibleAssetsTranslationAndPurchaseAccountingAdjustments
-17200000 usd
CY2024Q2 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
6979900000 usd
CY2024 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
117100000 usd
CY2024 us-gaap Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
103100000 usd
CY2024 us-gaap Operating Lease Cost
OperatingLeaseCost
128900000 usd
CY2023 us-gaap Operating Lease Cost
OperatingLeaseCost
127600000 usd
CY2022 us-gaap Operating Lease Cost
OperatingLeaseCost
129700000 usd
CY2024 us-gaap Variable Lease Cost
VariableLeaseCost
8900000 usd
CY2023 us-gaap Variable Lease Cost
VariableLeaseCost
6100000 usd
CY2022 us-gaap Variable Lease Cost
VariableLeaseCost
8500000 usd
CY2024 us-gaap Short Term Lease Cost
ShortTermLeaseCost
32200000 usd
CY2023 us-gaap Short Term Lease Cost
ShortTermLeaseCost
30000000.0 usd
CY2022 us-gaap Short Term Lease Cost
ShortTermLeaseCost
29100000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
118200000 usd
CY2024Q2 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
700000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
96700000 usd
CY2024Q2 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
600000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
66200000 usd
CY2024Q2 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
400000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
42200000 usd
CY2024Q2 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
0 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
29700000 usd
CY2024Q2 us-gaap Finance Lease Liability Payments Due Year Five
FinanceLeaseLiabilityPaymentsDueYearFive
0 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
87200000 usd
CY2024Q2 us-gaap Finance Lease Liability Payments Due After Year Five
FinanceLeaseLiabilityPaymentsDueAfterYearFive
0 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
440200000 usd
CY2024Q2 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
1700000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
55200000 usd
CY2024Q2 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
100000 usd
CY2024Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
385000000.0 usd
CY2024Q2 us-gaap Finance Lease Liability
FinanceLeaseLiability
1600000 usd
CY2024Q2 gis Lessee Operating Lease Signed Not Yet Commenced Amount
LesseeOperatingLeaseSignedNotYetCommencedAmount
126200000 usd
CY2024 gis Lessee Operating Lease Weighted Averages Tabletext Block
LesseeOperatingLeaseWeightedAveragesTabletextBlock
<div id="TextBlockContainer3117" style="position:relative;line-height:normal;width:732px;height:52px;"><div id="div_3114_XBRL_TS_04a0cbf6421347e3a3e1f4fd2bdc6ce5" style="position:absolute;left:0px;top:0px;float:left;"><div id="TextBlockContainer3115" style="position:relative;line-height:normal;width:732px;height:52px;"><div style="position:absolute; width:472.7px; height:15.4px; left:4.7px; top:17.7px; background-color:#CCEEFF; "> </div> <div style="position:absolute; width:76.7px; height:15.4px; left:482.7px; top:17.7px; background-color:#CCEEFF; "> </div> <div style="position:absolute; width:31.7px; height:15.4px; left:568.9px; top:17.7px; background-color:#CCEEFF; "> </div> <div style="position:absolute; width:76.6px; height:15.4px; left:605.8px; top:17.7px; background-color:#CCEEFF; "> </div> <div style="position:absolute; width:724.2px; height:17.2px; left:2px; top:15.8px; background-color:#CCEEFF; "> </div> <div style="position:absolute; width:31.7px; height:15.4px; left:691.7px; top:17.7px; background-color:#CCEEFF; "> </div> <div style="position:absolute; width:724.2px; height:1px; left:2px; top:14.8px; background-color:#000000; "> </div> <div id="TextContainer3115" style="position:relative;width:732px;z-index:1;"><div id="a14162" style="position:absolute;font-family:'Times New Roman';font-weight:bold;left:503px;top:0px;">May 26, 2024</div><div id="a14164" style="position:absolute;font-family:'Times New Roman';font-weight:bold;left:626px;top:0px;">May 28, 2023</div><div id="a14166" style="position:absolute;font-family:'Times New Roman';left:4px;top:18px;">Weighted-average<div style="display:inline-block;width:5px"> </div>remaining lease term</div><div id="a14170" style="position:absolute;font-family:'Times New Roman';font-weight:bold;left:542px;top:18px;">5.4</div><div id="a14172" style="position:absolute;font-family:'Times New Roman';font-weight:bold;left:570px;top:18px;">years</div><div id="a14174" style="position:absolute;font-family:'Times New Roman';left:666px;top:18px;">5.2</div><div id="a14176" style="position:absolute;font-family:'Times New Roman';left:695px;top:18px;">years</div><div id="a14178" style="position:absolute;font-family:'Times New Roman';left:4px;top:37px;">Weighted-average<div style="display:inline-block;width:5px"> </div>discount rate</div><div id="a14182" style="position:absolute;font-family:'Times New Roman';font-weight:bold;left:542px;top:37px;">4.9</div><div id="a14184" style="position:absolute;font-family:'Times New Roman';font-weight:bold;left:569px;top:37px;">%</div><div id="a14186" style="position:absolute;font-family:'Times New Roman';left:666px;top:37px;">4.4</div><div id="a14188" style="position:absolute;font-family:'Times New Roman';left:691px;top:37px;">%</div></div></div></div></div>
CY2024Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y4M24D
CY2023Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y2M12D
CY2024Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.049 pure
CY2023Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.044 pure
CY2024 us-gaap Operating Lease Payments
OperatingLeasePayments
129700000 usd
CY2023 us-gaap Operating Lease Payments
OperatingLeasePayments
129900000 usd
CY2024 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
139800000 usd
CY2023 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
124400000 usd
CY2024Q2 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
2300000 usd
CY2023Q2 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
2300000 usd
CY2024Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
2300000 usd
CY2023Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
2300000 usd
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Our noncontrolling interests contain restrictive covenants. As of May 26, 2024, we were in compliance with all of these covenants.
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CY2024Q2 us-gaap Land
Land
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Land
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CY2024Q2 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
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CY2023Q2 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
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CY2023Q2 us-gaap Defined Benefit Plan Assets For Plan Benefits Noncurrent
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258800000 usd
CY2023Q2 us-gaap Other Assets Miscellaneous Noncurrent
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CY2024Q2 us-gaap Other Assets Noncurrent
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CY2024Q2 us-gaap Accrued Marketing Costs Current
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304700000 usd
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GrainDerivativeLiabilityNotDesignatedAsHedgingInstrumentFairValueCurrent
6500000 usd
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CY2024Q2 us-gaap Other Sundry Liabilities Current
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277200000 usd
CY2023Q2 us-gaap Other Sundry Liabilities Current
OtherSundryLiabilitiesCurrent
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708600000 usd
CY2023Q2 gis Deferred Compensation And Pension Postemployment And Other Postretirement Defined Benefit Plans Liability Classified Noncurrent
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CY2023Q2 us-gaap Operating Lease Liability Noncurrent
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CY2024Q2 us-gaap Accrued Income Taxes Noncurrent
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CY2024Q2 us-gaap Other Sundry Liabilities Noncurrent
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CY2023Q2 us-gaap Other Sundry Liabilities Noncurrent
OtherSundryLiabilitiesNoncurrent
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CY2024Q2 us-gaap Other Liabilities Noncurrent
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CY2024 us-gaap Depreciation Amortization And Accretion Net
DepreciationAmortizationAndAccretionNet
552700000 usd
CY2023 us-gaap Depreciation Amortization And Accretion Net
DepreciationAmortizationAndAccretionNet
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CY2022 us-gaap Depreciation Amortization And Accretion Net
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570300000 usd
CY2024 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
257800000 usd
CY2023 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
257600000 usd
CY2022 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
243100000 usd
CY2024 us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
824600000 usd
CY2023 us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
810000000.0 usd
CY2022 us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
690100000 usd
CY2024 us-gaap Interest Expense Borrowings
InterestExpenseBorrowings
509400000 usd
CY2023 us-gaap Interest Expense Borrowings
InterestExpenseBorrowings
400500000 usd
CY2022 us-gaap Interest Expense Borrowings
InterestExpenseBorrowings
387200000 usd
CY2024 us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
11400000 usd
CY2023 us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
4400000 usd
CY2022 us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
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CY2024 us-gaap Investment Income Interest
InvestmentIncomeInterest
18800000 usd
CY2023 us-gaap Investment Income Interest
InvestmentIncomeInterest
14000000.0 usd
CY2022 us-gaap Investment Income Interest
InvestmentIncomeInterest
3800000 usd
CY2024 us-gaap Interest Paid Net
InterestPaidNet
464400000 usd
CY2023 us-gaap Interest Paid Net
InterestPaidNet
337100000 usd
CY2022 us-gaap Interest Paid Net
InterestPaidNet
357800000 usd
CY2024 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
660500000 usd
CY2023 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
682600000 usd
CY2022 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
545300000 usd
CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
4904700000 usd
CY2022Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
4717600000 usd
CY2023Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
5139400000 usd
CY2022Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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CY2024Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
5099200000 usd
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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CY2024Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
5030000000.0 usd
CY2023Q3 us-gaap Gross Profit
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1770500000 usd
CY2022Q3 us-gaap Gross Profit
GrossProfit
1447700000 usd
CY2023Q4 us-gaap Gross Profit
GrossProfit
1765900000 usd
CY2022Q4 us-gaap Gross Profit
GrossProfit
1705100000 usd
CY2024Q1 us-gaap Gross Profit
GrossProfit
1707400000 usd
CY2023Q1 us-gaap Gross Profit
GrossProfit
1664800000 usd
CY2024Q2 us-gaap Gross Profit
GrossProfit
1688300000 usd
CY2023Q2 us-gaap Gross Profit
GrossProfit
1728200000 usd
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
673500000 usd
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
820000000.0 usd
CY2023Q4 us-gaap Net Income Loss
NetIncomeLoss
595500000 usd
CY2022Q4 us-gaap Net Income Loss
NetIncomeLoss
605900000 usd
CY2024Q1 us-gaap Net Income Loss
NetIncomeLoss
670100000 usd
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
553100000 usd
CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
557500000 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
614900000 usd
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.15
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.37
CY2023Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.03
CY2022Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.01
CY2024Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.18
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.94
CY2024Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.98
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.04
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.14
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.35
CY2023Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.02
CY2022Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.01
CY2024Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.17
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.92
CY2024Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.98
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.03
CY2024Q2 us-gaap Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
103100000 usd
CY2024Q2 gis Legal Costs Recovery
LegalCostsRecovery
53200000 usd
CY2024 dei Auditor Firm
AuditorFirmId
185

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