Consolidated Statements of Comprehensive Income - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
May 25, 2025 |
May 26, 2024 |
May 28, 2023 |
|
| Consolidated Statements of Comprehensive Income [Abstract] | |||
| Net earnings, including earnings attributable to noncontrolling interests | $ 2,318.9 | $ 2,518.6 | $ 2,609.6 |
| Other comprehensive (loss) income, net of tax: | |||
| Foreign currency translation | (114.9) | (86.6) | (110.8) |
| Net actuarial income (loss) | 17.2 | (187.1) | (228.0) |
| Other fair value changes: | |||
| Hedge derivatives | (7.4) | (3.2) | 1.3 |
| Reclassification to earnings: | |||
| Foreign currency translation | 33.9 | 0.0 | (7.4) |
| Hedge derivatives | (0.2) | (2.5) | (18.7) |
| Amortization of losses and prior service costs | 46.5 | 36.7 | 56.9 |
| Other comprehensive loss, net of tax | (24.9) | (242.7) | (306.7) |
| Total comprehensive income | 2,294.0 | 2,275.9 | 2,302.9 |
| Comprehensive income attributable to redeemable and noncontrolling interests | 24.1 | 22.1 | 15.4 |
| Comprehensive income attributable to General Mills | $ 2,269.9 | $ 2,253.8 | $ 2,287.5 |
Consolidated Balance Sheets (Parenthetical) - $ / shares |
Jun. 09, 2025 |
May 25, 2025 |
May 26, 2024 |
May 28, 2023 |
|---|---|---|---|---|
| Stockholders' equity: | ||||
| Common stock, shares issued | 754,600,000 | 754,600,000 | 754,600,000 | |
| Common stock, par value | $ 0.10 | $ 0.10 | $ 0.10 | |
| Shares held in the treasury | 212,185,838 | 212,200,000 | 195,500,000 |
Consolidated Statements of Total Equity (Parenthetical) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
May 25, 2025 |
May 26, 2024 |
May 28, 2023 |
|
| Consolidated Statements of Total Equity and Redeemable Interest [Abstract] | |||
| Par Value Common Stock | $ 0.10 | $ 0.10 | $ 0.10 |
| Shares Authorized | 1,000,000,000 | 1,000,000,000 | 1,000,000,000 |
| Cash dividends declared per share | $ 2.40 | $ 2.36 | $ 2.16 |
| Shares purchased, excise tax | $ 10.6 | $ 18.8 | $ 0.0 |
Basis of Presentation and Reclassifications |
12 Months Ended |
|---|---|
May 25, 2025 | |
| Basis of Presentation and Reclassifications [Abstract] | |
| Basis of Presentation and Reclassifications | NOTE 1. BASIS OF PRESENTATION Basis of Presentation Our Consolidated Financial financial interest. Intercompany transactions and accounts are eliminated Our fiscal year of certain recent acquisitions are reported on a one-month lag. Please see Note 3 for Certain reclassifications to our previously reported financial information presentation. |
Summary of Significant Accounting Policies |
12 Months Ended |
|---|---|
May 25, 2025 | |
| Summary of Significant Accounting Policies [Abstract] | |
| Summary of Significant Accounting Policies | NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING Cash and Cash Equivalents We consider all investments Inventories All market. Grain inventories are all net changes in value recorded in earnings currently. Inventories realizable value. Shipping when the related finished product is shipped to and accepted by the customer. Land, Buildings, Equipment, and Depreciation Land is recorded at historical cost. at charged 40 depreciated over 3 10 retired, recognized in earnings. Long-lived assets asset flows from identifiable cash excess independent appraisals, as appropriate. Goodwill and Other Intangible Assets Goodwill indicate that impairment may have of the the liabilities reporting impairment charge goodwill allocated rates for sales and profits are determined using inputs from our long-range perpetuity growth assumptions, market comparables, and other factors. We evaluate the determination competition, other economic in an uncertain or expenditures, amortized on a straight-line basis, over their useful lives, generally ranging 4 30 Our Blue , , , Progresso , , , , , , and annually and the fair range plan, assumed royalty rates that could be payable if we did not own Our finite-lived intangible in circumstances indicate estimated undiscounted future cash Assets generally be model or other similar valuation model, as appropriate. Leases We we account for lease and non-lease components (e.g., Any recognize lease costs for these us with reasonably certain agreements do not include an option to purchase the leased asset, residual value guarantees, We include rental payments based on included recognized in the period in which the obligation is incurred. As information available at the commencement date of the lease arrangement Investments in Unconsolidated Joint Ventures Our undistributed and make goods, and finished goods to the joint ventures, generally at market prices. In addition, but not capital, profitability, nature, these projections the carrying value of investment to its fair value if we concluded the impairment is other than temporary. Revenue Recognition Our revenues primarily result – the has been satisfied and control of the our customer. consideration transaction and participation and the However, product interest. Payment terms and any significant financing components. our channel, and other specific written off into factors. We do Environmental Costs Environmental costs expensed. Liabilities estimable, generally no later than the completion of feasibility studies or our commitment Advertising Production Costs We expense the Research and Development All expenditures for research and development for wages, consulting, and supplies including assets at facilities that are engaged in pilot plant activities. Foreign Currency Translation For translated during the period. Translation Gains investments instruments designated as net investment hedges. These gains and losses are recorded Derivative Instruments All derivatives are recognized fair value, derivatives are as reclassified associated amounts reported in cash flows from operating activities in our Consolidated Stock-based Compensation We generally of stock-based selling, general each reportable segment in our segment results. Certain equity-based compensation plans contain provisions eligible award retirement-eligible individuals is recognized from the grant date over We report the Defined Benefit Pension, Other Postretirement Benefit, and Postemployment We employees. Under the Postemployment benefits of service) are charged to expense when incurred. Our postemployment We the funded status in the year in which the changes occur through AOCI. Use of Estimates Preparing requires and liabilities These defined benefit pension, other postretirement benefit and postemployment New Accounting Standards In the The (CODM) included within segment or loss to assess segment performance. of consolidated Financial Statements for additional information on the In except for the rollforward the key terms confirmed obligation position. See Note 8 to the consolidated Financial Statements for additional In the first quarter The new hedge apply a new reference rate, operations and financial position. |
Acquisition and Divestitures |
12 Months Ended |
|---|---|
May 25, 2025 | |
| Acquisition and Divestitures [Abstract] | |
| Acquisition and Divestitures | NOTE 3. ACQUISITIONS AND DIVESTITURES During premium cat feeding 1.4 the transaction recorded goodwill of 1,086.7 Tiki Pets 289.0 lived customer 31.0 for tax value period. will North America Pet operating segment on a one-month lag. During affiliates of Groupe Lactalis S.A. (Lactalis) and 2.1 of 95.9 Subsequent to the end of fiscal 2025, the regulatory review for the and transaction and and 2025. The components of assets held for sale and liabilities held for sale are as follows: In Millions May 25, 2025 Inventories $ 56.2 Prepaid expenses and other current assets 15.3 Land, buildings, and equipment 230.5 Goodwill 252.6 Other intangible assets 160.7 Other assets 25.1 Assets held for sale $ 740.4 Other current liabilities $ 8.9 Other liabilities 9.5 Liabilities held for sale $ 18.4 During the fourth quarter 434.1 acquired. 7.7 were recorded 317.5 118.4 relationship asset 14.2 pro forma effects a one-month lag. During national pizza 253.0 with U.S. commercial paper. $ 156.7 forma effects of this acquisition were not material. During the Eagle Family Foods Group for $ 606.8 442.2 |
Restructuring, Transformation, Impairment, and Other Exit Costs |
12 Months Ended |
|---|---|
May 25, 2025 | |
| Restructuring, Transformation, Impairment, and Other Exit Costs [Abstract] | |
| Restructuring, Transformation, Impairment, and Other Exit Costs | NOTE 4. RESTRUCTURING, INTANGIBLE ASSET In fiscal 2024, we 117.1 see Note 6 for additional information. In fiscal 103.1 Top , True , and EPIC intangible assets. Please see Note 6 for additional information. RESTRUCTURING AND TRANSFORMATION We view our against internal (or depreciation. These activities result severance, assets, as by shortening the approved project plan. Any impairment of the asset is recognized immediately Restructuring and transformation charges recorded In Millions Global transformation initiative $ 70.1 Charges associated with restructuring actions previously 17.4 Total restructuring $ 87.5 In business 130 charges related 120 severance and other benefit costs, as well 68.7 severance and 1.4 fiscal 2025 completed by the end of fiscal 2028. In fiscal in the International segment to optimize 24 incremental 12 charges are expected 9 7 8 We 32 18 to these actions. Certain actions are subject to union negotiations and works counsel consultations, We paid 13.2 35.5 in fiscal 2024. Restructuring charges recorded in fiscal 2024 were Fiscal Year In Millions 2025 2024 2023 Restructuring, transformation, impairment, and other exit costs $ 78.3 $ 241.4 $ 56.2 Cost of sales 9.2 17.6 4.8 Total restructuring, 87.5 259.0 61.0 Restructuring initiative project-related costs classified in cost of $ 0.5 $ 2.0 $ 2.4 In Millions Commercial strategy actions $ 18.6 Charges associated with restructuring actions previously 20.2 Total restructuring $ 38.8 The roll forward of our restructuring, transformation, and other exit In Millions Severance Other Exit Costs Total Reserve balance as of May 29, 2022 $ 35.4 $ 1.4 $ 36.8 Fiscal 2023 charges, including foreign currency translation 41.6 0.1 41.7 Utilized in fiscal 2023 (29.4) (1.4) (30.8) Reserve balance as of May 28, 2023 47.6 0.1 47.7 Fiscal 2024 charges, including foreign currency translation - 0.1 0.1 Utilized in fiscal 2024 (32.8) (0.2) (33.0) Reserve balance as of May 26, 2024 14.8 - 14.8 Fiscal 2025 charges, including foreign currency translation 70.1 - 70.1 Utilized in fiscal 2025 (7.8) - (7.8) Reserve balance as of May 25, 2025 $ 77.1 $ - $ 77.1 The charges charged spare parts) and other exit cost reserves on our Consolidated Balance Sheets. Restructuring charges recorded in fiscal 2023 were Restructuring, Consolidated Statements of Earnings as follows: In Millions Global supply chain actions $ 36.2 Network optimization actions 6.4 Charges associated with restructuring actions previously 18.4 Total restructuring $ 61.0 |
Investments in Unconsolidated Joint Ventures |
12 Months Ended |
|---|---|
May 25, 2025 | |
| Investments in Unconsolidated Joint Ventures [Abstract] | |
| Investments in Unconsolidated Joint Ventures | NOTE 5. INVESTMENTS IN UNCONSOLIDATED We 50 approximately 130 manufactures private label cereals for obligation in the United Kingdom. We 50 Häagen-Dazs ice cream products and frozen novelties. Results from our CPW and HDJ joint ventures are reported for the 12 months Joint venture related balance sheet activity is as follows: In Millions May 25, 2025 May 26, 2024 Cumulative investments $ 431.8 $ 368.9 Goodwill and other intangible assets 469.9 448.9 Aggregate advances included in cumulative investments 314.6 280.8 Joint venture earnings and cash flow activity is as follows: Fiscal Year In Millions 2025 2024 2023 Sales to joint ventures $ 7.8 $ 4.8 $ 5.8 Net (repayments) advances (13.3) 2.7 32.2 Dividends received 44.6 50.4 69.9 Summary combined financial information for the joint ventures on Fiscal Year In Millions 2025 2024 2023 Net sales: CPW $ 1,647.3 $ 1,718.5 $ 1,618.9 HDJ 323.1 319.3 338.5 Total net sales 1,970.4 2,037.8 1,957.4 Gross margin 686.8 672.2 667.7 Earnings before income taxes 89.4 145.2 169.3 Earnings after income taxes 61.5 119.9 126.9 In Millions May 25, 2025 May 26, 2024 Current assets $ 751.0 $ 777.4 Noncurrent assets 788.3 784.0 Current liabilities 1,314.1 1,310.6 Noncurrent liabilities 96.3 88.2 |
Goodwill and Other Intangible Assets |
12 Months Ended |
|---|---|
May 25, 2025 | |
| Goodwill and Other Intangible Assets [Abstract] | |
| Goodwill and Other Intangible Assets | NOTE 6. GOODWILL AND OTHER INTANGIBLE The components of goodwill and other intangible assets are as follows: In Millions May 25, 2025 May 26, 2024 Goodwill $ 15,622.4 $ 14,750.7 Other intangible assets: Intangible assets not subject to amortization: Brands and other indefinite-lived intangibles 6,816.7 6,728.6 Intangible assets subject to amortization: Customer relationships and other finite-lived intangibles 420.9 402.2 Less accumulated amortization (156.2) (150.9) Intangible assets subject to amortization 264.7 251.3 Other intangible assets 7,081.4 6,979.9 Total $ 22,703.8 $ 21,730.6 Based on years is estimated to be approximately $ 20 The changes in the carrying amount of goodwill for fiscal 2023, 2024, and 2025 In Millions North America Retail North America Pet North America Foodservice International (a) Corporate and Joint Ventures Total Balance as of May 29, 2022 $ 6,552.9 $ 6,062.8 $ 648.8 $ 721.6 $ 392.4 $ 14,378.5 Acquisition - - 156.8 - - 156.8 Divestitures (2.0) - - (0.4) - (2.4) Other activity, primarily (8.5) - - (12.8) (0.4) (21.7) Balance as of May 28, 2023 6,542.4 6,062.8 805.6 708.4 392.0 14,511.2 Acquisitions - - - 318.1 26.9 345.0 Impairment charge - - - (117.1) - (117.1) Other activity, primarily (0.5) - (0.1) 7.7 4.5 11.6 Balance as of May 26, 2024 6,541.9 6,062.8 805.5 917.1 423.4 14,750.7 Acquisition - 1,086.7 - - - 1,086.7 Divestiture (14.6) - - - - (14.6) Reclassified to assets held for sale (202.6) - (50.0) - - (252.6) Other activity, primarily (1.2) - - 34.6 18.8 52.2 Balance as of May 25, 2025 $ 6,323.5 $ 7,149.5 $ 755.5 $ 951.7 $ 442.2 $ 15,622.4 The accumulated impairment losses of $ 117.1 The changes in the carrying amount of other intangible assets for fiscal 2023, 2024, and In Millions Total Balance as of May 29, 2022 $ 6,999.9 Acquisition 3.8 Divestiture (3.6) Other activity, primarily (32.5) Balance as of May 28, 2023 6,967.6 Acquisition 132.6 Impairment charges (103.1) Other activity, primarily (17.2) Balance as of May 26, 2024 6,979.9 Acquisition 320.0 Divestiture (44.4) Reclassified to assets held for sale (160.7) Other activity, primarily (13.4) Balance as of May 25, 2025 $ 7,081.4 Our fiscal no excess of the Uncle Toby’s our Progresso , Nudges , True , Kitano coverage. We will continue We did not In fiscal 117.1 non-cash supporting Top , True , EPIC 103.1 charges restructuring, transformation, impairment, and other exit costs Consolidated Statements inputs which and tax rates. These fair values are Level 3 assets in the fair value hierarchy. |
Leases |
12 Months Ended |
|---|---|
May 25, 2025 | |
| Leases [Abstract] | |
| Leases | NOTE 7. LEASES Our lease portfolio primarily shops, associated with finance are not material to our Consolidated Financial Statements. Components of our lease cost are as follows: Fiscal Year In Millions 2025 2024 2023 Operating lease cost $ 145.7 $ 128.9 $ 127.6 Variable 7.5 8.9 6.1 Short-term lease cost 32.6 32.2 30.0 Maturities of our operating and finance lease obligations by fiscal year are In Millions Operating Leases Finance Leases Fiscal 2026 $ 134.0 $ - Fiscal 2027 99.5 0.6 Fiscal 2028 78.7 0.4 Fiscal 2029 57.9 - Fiscal 2030 31.6 - After fiscal 2030 72.2 - Total noncancelable $ 473.9 $ 1.0 Less: Interest (55.8) - Present value of lease obligations $ 418.1 $ 1.0 The 82.5 committed to but have not yet commenced as of May 25, 2025. The weighted-average remaining lease term and weighted-average May 25, 2025 May 26, 2024 Weighted-average 5.0 years 5.4 years Weighted-average 4.9 % 4.9 % In addition, we had $ 25.1 19.3 25, 2025. Supplemental operating cash for-sale, are as follows: Fiscal Year In Millions 2025 2024 Cash paid for amounts included in the measurement of lease liabilities $ 152.7 $ 129.7 Right of use assets obtained in exchange for new lease liabilities $ 163.4 $ 139.8 |
Financial Instruments, Risk Management Activities, and Fair Values |
12 Months Ended |
|---|---|
May 25, 2025 | |
| Financial Instruments, Risk Management Activities, and Fair Values [Abstract] | |
| Financial Instruments, Risk Management Activities, and Fair Values | NOTE 8. FINANCIAL INSTRUMENTS, RISK MANAGEMENT ACTIVITIES, FINANCIAL INSTRUMENTS The approximate fair and market values of our marketable debt and equity securities is as follows: Cost Fair Value Gross Unrealized Gains Gross Unrealized Losses Fiscal Year Fiscal Year Fiscal Year Fiscal Year In Millions 2025 2024 2025 2024 2025 2024 2025 2024 Available for $ 2.3 $ 2.3 $ 2.3 $ 2.3 $ - $ - $ - $ - Equity securities 0.3 0.3 4.9 4.6 4.6 4.3 - - Total $ 2.6 $ 2.6 $ 7.2 $ 6.9 $ 4.6 $ 4.3 $ - $ - There no marketable securities were $ 7.6 Classification maturity date. The within stockholders’ equity. Scheduled maturities of our marketable securities are as follows: Marketable Securities In Millions Cost Fair Value Under 1 year (current) $ 2.3 $ 2.3 Equity securities 0.3 4.9 Total $ 2.6 $ 7.2 As of May 25, 2025, we had $ 2.3 RISK MANAGEMENT ACTIVITIES As a and commodity and swaps) pursuant to our established policies. COMMODITY PRICE RISK Many commodities we to manage price risk for our principal dairy products, natural with combination of purchase orders, long-term and swaps. close as possible to or below our planned cost. We hedge accounting for of sales in our Consolidated Statements of Earnings. Although we do objective of providing certainty measuring operating results unallocated derivative without experiencing any resulting mark-to-market volatility, Unallocated corporate items for fiscal 2025, 2024, and 2023 included: Fiscal Year In Millions 2025 2024 2023 Net loss on mark-to-market valuation of commodity positions $ (37.4) $ (15.4) $ (154.4) Net loss (gain) on commodity positions reclassified from unallocated corporate 52.8 40.0 (89.5) Net mark-to-market revaluation of certain grain inventories 0.3 14.5 (48.0) Net mark-to-market valuation of certain commodity positions recognized $ 15.7 $ 39.1 $ (291.9) As 227.1 134.6 agricultural inputs and 92.5 next 12 INTEREST RATE RISK We floating-rate debt. Primary exposures include U.S. Treasury Europe. changes, based difference between fixed-rate and floating-rate Floating Interest forecasted changes in the into earnings over the life of the associated debt. Fixed assessed available on loans with similar terms and maturities. During 750.0 750.0 million fixed-rate notes due April 17, 2032 , to a floating rate. During the 350.0 treasury locks were terminated during the second quarter of fiscal 750.0 of January 30, 2035 . 0.1 through interest expense over the respective term of the debt. During the 750.0 750.0 million of fixed-rate notes due January 30, 2030 , to a floating rate. During the second quarter of fiscal 2025, our 500.0 500.0 rate notes due November 18, 2025 swap was designated to the associated hedged debt. During the 500.0 250.0 treasury locks, resulting in a gain of $ 0.3 As of May 25, to earnings over the remaining term of the related underlying debt, follows: In Millions Gain (Loss) 3.2 % notes due February 10, 2027 $ 2.9 1.5 % notes due April 27, 2027 (0.6) 4.2 % notes due April 17, 2028 (3.0) 3.907 % notes due April 13, 2029 (3.4) 2.25 % notes due October 14, 2031 12.6 4.95 % notes due March 29, 2033 (1.1) 5.25 % notes due January 30, 2035 0.1 4.55 % notes due April 17, 2038 (7.0) 5.4 % notes due June 15, 2040 (8.4) 4.15 % notes due February 15, 2043 7.0 4.7 % notes due April 17, 2048 (10.9) Net pre-tax hedge loss in AOCI $ (11.8) The floating rates are based on rates as of the end of the reporting period. In Millions, Except Average May 25, 2025 May 26, 2024 Pay-floating swaps - notional amount $ 2,283.9 $ 1,150.8 Average 3.1 % 2.5 % Average pay rate 4.0 % 4.9 % As of May 25, 2025, the net notional amount and maturity dates of our floating-rate In Millions Notional Amount Fiscal 2026 $ 681.7 Fiscal 2030 750.0 Fiscal 2032 852.2 Total $ 2,283.9 FOREIGN EXCHANGE RISK Foreign currency purchases, currency Canadian contracts to selectively hedge our paper foreign exchange exposure. earnings on the associated borrowings. We As of May 25, 2025, the net notional value of foreign exchange derivatives 831.3 We issuing these net 4,742.8 transaction losses of $ 123.5 EQUITY INSTRUMENTS Equity compensation plan dates of our equity swap contracts outstanding are as follows: In Millions Notional Amount Fiscal 2026 $ 194.5 Fiscal 2027 8.2 Total $ 202.7 FAIR VALUE The hierarchy as of May 25, 2025, and May 26, 2024, were as follows: May 25, 2025 May 25, 2025 Fair Values Fair Values In Millions Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Derivatives designated as hedging instruments: Interest rate contracts (a) (b) $ - $ 5.0 $ - $ 5.0 $ - $ (11.4) $ - $ (11.4) Foreign exchange contracts (a) (c) - 4.1 - 4.1 - (13.5) - (13.5) Total - 9.1 - 9.1 - (24.9) - (24.9) Derivatives not designated as hedging Foreign exchange contracts (a) (c) - 0.2 - 0.2 - (1.3) - (1.3) Commodity contracts (a) (d) 0.6 0.9 - 1.5 (0.2) (7.4) - (7.6) Grain contracts (a) (d) - 2.2 - 2.2 - (4.0) - (4.0) Total 0.6 3.3 - 3.9 (0.2) (12.7) - (12.9) Other assets and liabilities reported at fair value: Marketable investments (a) (e) 4.9 2.3 - 7.2 - - - - Long-lived assets (f) - 2.0 - 2.0 - - - - Total 4.9 4.3 - 9.2 - - - - Total assets, liabilities, and $ 5.5 $ 16.7 $ - $ 22.2 $ (0.2) $ (37.6) $ - $ (37.8) (a) other liabilities, and cash equivalents. (b) item in a fair 2,280.6 675.6 1,605.0 Balance amount of fair value hedging basis adjustments was $ 3.2 (c) (d) (e) (f) Fair previously announced restructuring actions described in Note 4. May 26, 2024 May 26, 2024 Fair Values Fair Values In Millions Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Derivatives designated as hedging instruments: Interest rate contracts (a) (b) $ - $ - $ - $ - $ - $ (39.8) $ - $ (39.8) Foreign exchange contracts (a) (c) - 5.7 - 5.7 - (5.1) - (5.1) Total - 5.7 - 5.7 - (44.9) - (44.9) Derivatives not designated as hedging Foreign exchange contracts (a) (c) - - - - - (5.2) - (5.2) Commodity contracts (a) (d) 2.1 1.1 - 3.2 - (12.1) - (12.1) Grain contracts (a) (d) - 7.9 - 7.9 - (6.5) - (6.5) Total 2.1 9.0 - 11.1 - (23.8) - (23.8) Other assets and liabilities reported at fair value: Marketable investments (a) (e) 4.6 2.3 - 6.9 - - - - Indefinite-lived intangible assets (f) - - 25.0 25.0 - - - - Total 4.6 2.3 25.0 31.9 - - - - Total assets, liabilities, and $ 6.7 $ 17.0 $ 25.0 $ 48.7 $ - $ (68.7) $ - $ (68.7) (a) other liabilities, and cash equivalents. (b) item in a 1,116.6 of May 26, 2024, the cumulative amount of fair value hedging basis adjustments 34.2 (c) (d) (e) (f) We did not The prices are not available, fair value is estimated using and including the 13,579.5 14,201.6 and fair value of our long-term debt, including the current portion, were 12,148.7 12,918.3 Information fiscal years ended May 25, 2025, and May 26, 2024, follows: Interest Rate Contracts Foreign Exchange Contracts Equity Contracts Commodity Contracts Total Fiscal Year Fiscal Year Fiscal Year Fiscal Year Fiscal Year In Millions 2025 2024 2025 2024 2025 2024 2025 2024 2025 2024 Derivatives in Cash Flow Hedging Amount of gain (loss) recognized in $ 0.1 $ - $ (8.1) $ (4.3) $ - $ - $ - $ - $ (8.0) $ (4.3) Amount of net (loss) gain reclassified (0.2) 0.9 2.5 3.2 - - - - 2.3 4.1 Amount of net gain recognized in - 0.3 - - - - - - - 0.3 Derivatives in Fair Value Amount of net gain (loss) recognized 3.0 (0.2) - - - - - - 3.0 (0.2) Derivatives Not Designated as Amount of net (loss) gain recognized $ - $ - $ (16.0) $ (8.5) $ 6.3 $ 21.6 $ (22.0) $ 15.1 $ (31.7) $ 28.2 (a) expenses for foreign cost of sales 12.7 10.2 ended 7.0 reclassified from AOCI into SG&A was $ 3.8 (b) (c) SG&A for equity contracts, and cost of sales for commodity contracts. The following Consolidated Balance Sheets to the net fair values that could be reported May 25, 2025 Assets Liabilities Gross Amounts Not Offset in the Balance Sheet (d) Gross Amounts Not Offset in the Balance Sheet (d) In Millions Gross Amounts of Recognized Assets Gross Liabilities Offset in the Balance Sheet Net Amounts of Assets Financial Instruments Cash Collateral Received Net Amount (b) Gross Amounts of Recognized Liabilities Gross Assets Offset in the Balance Sheet Net Amounts of Liabilities (a) Financial Instruments Cash Collateral Pledged Net Amount (c) Commodity contracts $ 1.5 $ - $ 1.5 $ (1.0) $ - $ 0.5 $ (7.6) $ - $ (7.6) $ 1.0 $ - $ (6.6) Interest rate contracts 4.6 - 4.6 (2.2) - 2.4 (18.3) - (18.3) 2.2 - (16.1) Foreign exchange contracts 4.3 - 4.3 (3.8) - 0.5 (14.8) - (14.8) 3.8 - (11.0) Equity contracts 3.8 - 3.8 (1.0) - 2.8 (1.0) - (1.0) 1.0 - - Total $ 14.2 $ - $ 14.2 $ (8.0) $ - $ 6.2 $ (41.7) $ - $ (41.7) $ 8.0 $ - $ (33.7) (a) (b) (c) (d) May 26, 2024 Assets Liabilities Gross Amounts Not Offset in the Balance Sheet (e) Gross Amounts Not Offset in the Balance Sheet (e) In Millions Gross Amounts of Recognized Assets Gross Liabilities Offset in the Balance Sheet (a) Net Amounts of Assets Financial Instruments Cash Collateral Received Net Amount (c) Gross Amounts of Recognized Liabilities Gross Assets Offset in the Balance Sheet (a) Net Amounts of Liabilities (b) Financial Instruments Cash Collateral Pledged Net Amount (d) Commodity contracts $ 3.2 $ - $ 3.2 $ (3.2) $ - $ - $ (12.1) $ - $ (12.1) $ 3.2 $ 3.5 $ (5.4) Interest rate contracts - - - - - - (49.4) - (49.4) - 26.3 (23.1) Foreign exchange contracts 5.7 - 5.7 (3.9) - 1.8 (10.3) - (10.3) 3.9 - (6.4) Equity contracts 4.4 - 4.4 - - 4.4 (0.2) - (0.2) - - (0.2) Total $ 13.3 $ - $ 13.3 $ (7.1) $ - $ 6.2 $ (72.0) $ - $ (72.0) $ 7.1 $ 29.8 $ (35.1) (a) (b) (c) (d) (e) AMOUNTS RECORDED IN ACCUMULATED As of May 25, 2025, the after-tax amounts of unrealized In Millions After-Tax Unrealized loss from interest rate cash flow hedges $ (7.1) Unrealized loss from foreign currency cash flow hedges (0.3) After-tax loss in AOCI related to hedge derivatives $ (7.4) The net amount next 12 months is a $ 2.1 CREDIT-RISK-RELATED Certain of our each instruments derivative instruments with credit-risk-related 24.8 We have triggered on May 25, 2025, we would have been required to post $ 24.8 CONCENTRATIONS OF During fiscal 2025, customer concentration was as follows: Percent of total Consolidated North America Retail North America Foodservice International North America Pet Walmart (a): Net sales 22 % 31 % 10 % 2 % 18 % Accounts receivable 24 % 8 % 8 % 15 % Five largest customers: Net sales 55 % 54 % 27 % 66 % (a) No customer other than Walmart 10 We highly rated limit nonperformance transactions through various regulated exchanges. The amount contracts, 6.3 no transactions counterparty access if the counterparty defaults. We services also We financial institutions the third agreements. The accounts payable , follows: In Millions Total Balance as of May 26, 2024 $ 1,404.4 Additions, including foreign currency translation 4,116.8 Payments (4,093.7) Balance as of May 25, 2025 $ 1,427.5 |
Debt |
12 Months Ended |
|---|---|
May 25, 2025 | |
| Debt [Abstract] | |
| Debt | NOTE 9. DEBT NOTES PAYABLE The components of notes payable and their respective weighted-average May 25, 2025 May 26, 2024 In Millions Notes Payable Weighted- Average Interest Rate Notes Payable Weighted- Average Interest Rate U.S. commercial paper $ 669.4 4.5 % $ - - % Financial institutions 7.6 5.8 11.8 8.8 Total $ 677.0 4.5 % $ 11.8 8.8 % To ensure availability and Europe. The following table details the credit facilities and lines of credit we had available In Millions Borrowing Capacity Borrowed Amount Committed credit facility expiring October 2029 $ 2,700.0 $ - Uncommitted credit facilities and lines of credit 703.7 7.6 Total $ 3,403.7 $ 7.6 In 2.7 October 2029. Concurrent with the execution of this credit facility, 2.7 The 2.5 We were in compliance with all credit facility covenants as of May 25, 2025. LONG-TERM DEBT In 750.0 3.6 April 17, 2032 . proceeds 800.0 4.0 April 17, 2025 paper, as well as for general corporate In the third 500.0 5.241 November 18, 2025 , using proceeds from the issuance of commercial paper. In the second quarter of 750.0 4.875 January 30, 2030 . We proceeds to fund the Whitebridge Pet Brands acquisition. In the second 750.0 5.25 January 30, 2035 . We proceeds to fund the Whitebridge Pet Brands acquisition. In the 250.0 April 22, 2026 . We repay € 250.0 November 8, 2024 . In the 500.0 October 22, 2026 . We to repay € 500.0 November 8, 2024 . In the 500.0 3.65 October 23, 2030 . We proceeds for general corporate purposes. In 500.0 3.85 April 23, 2034 . proceeds for general corporate purposes. In 500.0 4.7 January 30, 2027 . We proceeds to repay $ 500.0 3.65 February 15, 2024 . In the second 250.0 November 8, 2024 . We to repay € 250.0 November 10, 2023 . In the 500.0 5.5 October 17, 2028 . We proceeds to repay $ 400.0 October 17, 2023 , and for general corporate purposes. In the first 500.0 November 8, 2024 . We repay € 500.0 July 27, 2023 . A summary of our long-term debt is as follows: In Millions, Except Weighted-Average Weighted-Average Interest Rate (a) May 25, 2025 May 26, 2024 Notes due fiscal 2025 - % $ - $ 1,613.5 Notes due fiscal 2026 0.8 1,533.9 1,693.2 Notes due fiscal 2027 3.1 2,276.5 1,687.8 Notes due fiscal 2028 4.2 1,400.0 1,400.0 Notes due fiscal 2029 4.5 1,352.2 1,313.5 Notes due fiscal 2030 3.9 1,500.0 750.0 Notes due fiscal 2031 - 2051 4.1 6,389.7 4,736.1 Net impact of unamortized debt discounts, debt issuance (250.7) (275.8) 14,201.6 12,918.3 Less amount due within one year (1,528.4) (1,614.1) Total long-term debt $ 12,673.2 $ 11,304.2 (a) The following table details the currency of our outstanding bonds: In Millions May 25, 2025 May 26, 2024 US Dollar $ 9,055.3 $ 8,855.3 Euro $ 5,397.0 $ 4,338.8 Certain of our As of May 25, 2025, we were in compliance with all of these covenants. The $ 11.8 be reclassified to net interest in fiscal 2026 is a $ 0.1 |
Noncontrolling Interests |
12 Months Ended |
|---|---|
May 25, 2025 | |
| Noncontrolling Interests [Abstract] | |
| Noncontrolling Interests | NOTE 10. NONCONTROLLING INTERESTS Our principal noncontrolling Class A limited based on the to-market valuation. three-month Term SOFR 261 basis points. During the 252.8 million. The purchase 242.3 10.5 primarily appreciation paid to the third-party holder of the Class A Interests was recorded of stockholders’ and diluted earnings per share (EPS) calculations. For subsidiaries subsidiaries is reflected in net earnings attributable to noncontrolling |
Stockholders' Equity |
12 Months Ended |
|---|---|
May 25, 2025 | |
| Stockholders' Equity [Abstract] | |
| Stockholders' Equity | NOTE 11. STOCKHOLDERS’ Cumulative preference stock of 5.0 On June 27, 2022, our Board of Directors authorized the 100 the authorization derivative termination date. Share repurchases were as follows: Fiscal Year In Millions 2025 2024 2023 Shares of common stock 18.7 29.2 18.0 Aggregate purchase price $ 1,213.5 $ 2,021.2 $ 1,403.6 The following tables provide details of total comprehensive income: Fiscal 2025 General Mills Noncontrolling Interests In Millions Pretax Tax Net Net Net earnings, including earnings attributable to $ 2,295.2 $ 23.7 Other comprehensive (loss) income: Foreign currency translation $ (161.9) $ 46.6 (115.3) 0.4 Net actuarial gain 21.3 (4.1) 17.2 - Other fair value changes: Hedge derivatives (8.0) 0.6 (7.4) - Reclassification to earnings: Foreign currency translation (a) 33.9 - 33.9 - Hedge derivatives (b) (2.3) 2.1 (0.2) - Amortization of losses and prior service costs (c) 58.1 (11.6) 46.5 - Other comprehensive (loss) income $ (58.9) $ 33.6 (25.3) 0.4 Total comprehensive $ 2,269.9 $ 24.1 (a) (b) expenses for foreign exchange contracts. (c) Fiscal 2024 General Mills Noncontrolling Interests In Millions Pretax Tax Net Net Net earnings, including earnings attributable to $ 2,496.6 $ 22.0 Other comprehensive (loss) income: Foreign currency translation $ (98.4) $ 11.7 (86.7) 0.1 Net actuarial loss (239.4) 52.3 (187.1) - Other fair value changes: Hedge derivatives (4.4) 1.2 (3.2) - Reclassification to earnings: Hedge derivatives (a) (4.1) 1.6 (2.5) - Amortization of losses and prior service costs (b) 46.5 (9.8) 36.7 - Other comprehensive (loss) income $ (299.8) $ 57.0 (242.8) 0.1 Total comprehensive $ 2,253.8 $ 22.1 (a) expenses for foreign exchange contracts. (b) Fiscal 2023 General Mills Noncontrolling Interests In Millions Pretax Tax Net Net Net earnings, including earnings attributable to $ 2,593.9 $ 15.7 Other comprehensive (loss) income: Foreign currency translation $ (110.2) $ (0.3) (110.5) (0.3) Net actuarial loss (295.5) 67.5 (228.0) - Other fair value changes: Hedge derivatives 3.8 (2.5) 1.3 - Reclassification to earnings: Foreign currency translation (a) (7.4) - (7.4) - Hedge derivatives (b) (24.7) 6.0 (18.7) - Amortization of losses and prior service costs (c) 72.9 (16.0) 56.9 - Other comprehensive loss $ (361.1) $ 54.7 (306.4) (0.3) Total comprehensive $ 2,287.5 $ 15.4 (a) (b) expenses for foreign exchange contracts. (c) In primarily non-cash items. Accumulated other comprehensive loss balances, net of tax effects, In Millions May 25, 2025 May 26, 2024 Foreign currency translation adjustments $ (876.7) $ (795.3) Unrealized (loss) gain (7.4) 0.2 Pension, other postretirement, and postemployment benefits: Net actuarial loss (1,726.8) (1,806.3) Prior service credits 65.9 81.7 Accumulated other comprehensive loss $ (2,545.0) $ (2,519.7) |
Stock Plans |
12 Months Ended |
|---|---|
May 25, 2025 | |
| Stock Plans [Abstract] | |
| Stock Plans | NOTE 12. STOCK PLANS We 2025, 29.5 shares cash-settled include provide for potential accelerated vesting of awards upon retirement, Stock Options The follows: Fiscal Year 2025 2024 2023 Estimated fair values of stock options granted $ 13.26 $ 17.47 $ 14.16 Assumptions: Risk-free interest rate 4.5 % 4.0 % 3.3 % Expected term 8.5 years 8.5 years 8.5 years Expected volatility 21.6 % 21.5 % 20.9 % Dividend yield 3.8 % 2.8 % 3.1 % Options Outstanding (Thousands) Weighted-Average Exercise Price Per Share Weighted-Average Remaining Contractual Term (Years) Aggregate Intrinsic Value (Millions) Balance as of May 26, 2024 12,044.4 $ 59.19 5.0 $ 120.5 Granted 1,322.3 63.51 Exercised (780.9) 54.57 Forfeited or expired (152.2) 67.29 Outstanding as of May 25, 2025 12,433.6 $ 59.84 4.7 $ 14.4 Exercisable as of May 25, 2025 8,071.6 $ 56.31 3.1 $ 14.4 Fiscal Year In Millions 2025 2024 2023 Net cash proceeds $ 43.0 $ 25.5 $ 232.3 Intrinsic value of options exercised $ 11.7 $ 7.6 $ 118.7 Restricted Stock, Restricted Stock Units, and Performance Share Stock Committee of and four-year four-year earned primarily cash subject three-year Participants holding restricted stock, to payment 2017 Stock Compensation Plan. Information on restricted stock unit and performance share unit activity Equity Classified Liability Classified Share-Settled Units (Thousands) Weighted-Average Grant-Date Fair Value Share-Settled Units (Thousands) Weighted-Average Grant-Date Fair Value Non-vested as of May 26, 2024 4,590.1 $ 66.94 69.1 $ 67.49 Granted 1,671.8 63.37 26.2 63.27 Vested (1,768.0) 63.35 (27.3) 65.28 Forfeited (403.6) 68.26 (9.1) 67.56 Non-vested as of May 25, 2025 4,090.3 $ 66.90 58.9 $ 66.63 Fiscal Year 2025 2024 2023 Number of units granted (thousands) 1,698.0 1,517.8 2,066.4 Weighted-average $ 63.37 $ 73.38 $ 69.77 We predictive assumptions estimate our future volatility we believe a marketplace participant would not use, implied 6 months, is insufficient to provide a reliable measure of expected volatility. Our estimate option exercises and employee exercise behavior and therefore employee groups is presented in the table on the U.S. Treasury zero-coupon yield curve in Any corporate (referred to windfall Consolidated Statements Windfall tax benefits from stock-based payments Under the 2022 Plan, 100 four-year four-year 10 years and one month of May 25, 2025, stock option awards outstanding include some granted under Information on stock option activity follows: Stock-based compensation expense related to stock option awards was as follows: Net options exercised were as follows: The 113.8 92.9 2024, and $ 107.4 As of May share units was $ 116.5 19 months , on average. Stock-based compensation expense related to restricted stock units Fiscal Year In Millions 2025 2024 2023 Windfall tax benefits from stock-based payments $ 5.3 $ 10.2 $ 32.3 Fiscal Year In Millions 2025 2024 2023 Compensation expense related to stock option awards $ 15.8 $ 13.9 $ 12.3 Fiscal Year In Millions 2025 2024 2023 Compensation expense related to restricted stock units and performance $ 75.9 $ 81.4 $ 99.4 |
Earnings Per Share |
12 Months Ended |
|---|---|
May 25, 2025 | |
| Earnings Per Share [Abstract] | |
| Earnings Per Share | NOTE 13. EARNINGS PER SHARE Basic and diluted EPS were calculated using the following: Fiscal Year In Millions, Except per Share Data 2025 2024 2023 Net earnings attributable to General Mills - as reported $ 2,295.2 $ 2,496.6 $ 2,593.9 Capital appreciation paid on Class A Interests in GMC (a) (10.5) - - Net earnings for EPS calculation $ 2,284.7 $ 2,496.6 $ 2,593.9 Average number 554.5 575.5 594.8 Incremental share effect from: (b) Stock options 1.2 1.8 3.6 Restricted stock units and performance share units 1.8 2.2 2.8 Average number 557.5 579.5 601.2 Earnings per share — basic $ 4.12 $ 4.34 $ 4.36 Earnings per share — diluted $ 4.10 $ 4.31 $ 4.31 (a) (b) method. because they were not dilutive were as follows: Fiscal Year In Millions 2025 2024 2023 Anti-dilutive stock options, restricted stock units, 4.7 2.1 0.8 |
Retirement Benefits and Postemployment Benefits |
12 Months Ended |
|---|---|
May 25, 2025 | |
| Retirement Benefits and Postemployment Benefits [Abstract] | |
| Retirement Benefits and Postemployment Benefits | NOTE 14. RETIREMENT BENEFITS AND POSTEMPLOYMENT BENEFITS Defined Benefit Pension Plans We have Benefits for salaried various monthly We made no no t expect to be required any provision that any excess pension assets would be allocated to active participants five years in control. benefit pension plan. Other Postretirement Benefit Plans We salaried related trusts no or fiscal 2024. We no t expect to be required to make any contributions to these plans in fiscal 2026. Health Care Cost Trend Assumed health care cost trends are as follows: Fiscal Year 2025 2024 Health care cost trend rate for next year 7.9 % and 7.9 % 7.3 % and 7.3 % Rate to which the cost trend rate is assumed to decline (ultimate rate) 4.5 % 4.5 % Year 2034 2033 We and information and projections, and remain consistent is 7.9 the 4.5 2034 retirees’ benefits increase the current health care costs have an important effect on the amounts reported Postemployment Benefit Plans Under certain States, Postemployment benefits of service) are charged to expense when incurred. Our postemployment Summarized presented below: Defined Benefit Pension Plans Other Postretirement Benefit Plans Postemployment Benefit Plans Fiscal Year Fiscal Year Fiscal Year In Millions 2025 2024 2025 2024 2025 2024 Change in Plan Assets: Fair value at beginning of year $ 5,439.7 $ 5,778.6 $ 463.2 $ 456.0 Actual return on assets 188.6 (23.2) 35.7 45.6 Employer contributions 30.7 30.0 0.1 0.1 Plan participant contributions 2.4 2.0 6.6 6.4 Benefits payments (349.5) (349.5) (47.6) (44.9) Foreign currency 5.3 1.8 - - Fair value at end of year (a) $ 5,317.2 $ 5,439.7 $ 458.0 $ 463.2 Change in Projected Benefit Obligation: Benefit obligation at beginning of year $ 5,801.7 $ 5,970.7 $ 403.0 $ 430.6 $ 129.0 $ 131.0 Service cost 51.8 56.8 4.3 4.7 7.0 7.4 Interest cost 306.9 296.5 21.1 21.3 4.0 4.0 Plan amendment 0.4 1.2 - - - (9.6) Curtailment/other - (13.9) - - 8.1 10.2 Plan participant contributions 2.4 2.0 6.6 6.4 - - Actuarial (gain) loss (191.4) (174.4) (48.1) (14.1) (2.1) 10.3 Benefits payments (349.5) (339.1) (49.0) (45.7) (22.9) (24.3) Foreign currency 5.2 1.9 (0.5) (0.2) - - Projected benefit obligation at end of year (a) $ 5,627.5 $ 5,801.7 $ 337.4 $ 403.0 $ 123.1 $ 129.0 Plan assets (less) more than benefit obligation as of $ (310.3) $ (362.0) $ 120.6 $ 60.2 $ (123.1) $ (129.0) (a) May 31, 2025 , and May 31, 2024 . During fiscal the discount During fiscal 2024, actuarial gains due to an increase in the discount rate. As of May 25, 2025, 9.4 other 11.5 funded and had benefit obligations of $ 123.1 129.0 The 5,540.2 $ 5,684.1 Amounts recognized in AOCI as of May 25, 2025, and May 26, 2024, are as follows: Defined Benefit Pension Plans Other Postretirement Benefit Plans Postemployment Benefit Plans Total Fiscal Year Fiscal Year Fiscal Year Fiscal Year In Millions 2025 2024 2025 2024 2025 2024 2025 2024 Net actuarial (loss) gain $ (1,935.4) $ (1,991.1) $ 212.7 $ 190.4 $ (4.1) $ (5.6) $ (1,726.8) $ (1,806.3) Prior service (costs) credits (7.5) (9.8) 67.4 84.7 6.0 6.8 65.9 81.7 Amounts recorded in accumulated $ (1,942.9) $ (2,000.9) $ 280.1 $ 275.1 $ 1.9 $ 1.2 $ (1,660.9) $ (1,724.6) Plans with accumulated benefit obligations in excess of plan assets as of May Defined Benefit Pension Plans Fiscal Year In Millions 2025 2024 Projected benefit obligation $ 449.7 $ 449.4 Accumulated benefit obligation 440.1 438.8 Plan assets at fair value 16.3 12.0 Components of net periodic benefit expense are as follows: Defined Benefit Pension Plans Other Postretirement Benefit Plans Postemployment Benefit Plans Fiscal Year Fiscal Year Fiscal Year In Millions 2025 2024 2023 2025 2024 2023 2025 2024 2023 Service cost $ 51.8 $ 56.8 $ 70.3 $ 4.3 $ 4.7 $ 5.1 $ 7.0 $ 7.4 $ 8.4 Interest cost 306.9 296.5 258.5 21.1 21.3 17.9 4.0 4.0 3.1 Expected return on (420.1) (417.7) (420.5) (35.9) (34.7) (31.1) - - - Amortization of losses 100.4 86.5 113.2 (20.5) (20.4) (19.3) 0.5 0.1 0.4 Amortization of prior 1.4 1.8 1.5 (22.1) (21.8) (23.2) (1.6) 0.3 0.3 Other adjustments - - - - - - 11.5 8.3 10.4 Settlement or - (4.0) (0.7) - - - - - - Net expense (income) $ 40.4 $ 19.9 $ 22.3 $ (53.1) $ (50.9) $ (50.6) $ 21.4 $ 20.1 $ 22.6 Assumptions Weighted-average Defined Benefit Pension Plans Other Postretirement Benefit Plans Postemployment Benefit Plans Fiscal Year Fiscal Year Fiscal Year 2025 2024 2025 2024 2025 2024 Discount rate 5.79 % 5.52 % 5.67 % 5.52 % 5.04 % 5.05 % Rate of salary increases 3.88 4.23 - - 4.13 4.46 Weighted-average Defined Benefit Pension Plans Other Postretirement Benefit Plans Postemployment Benefit Plans Fiscal Year Fiscal Year Fiscal Year 2025 2024 2023 2025 2024 2023 2025 2024 2023 Discount rate 5.52 % 5.18 % 4.39 % 5.52 % 5.19 % 4.36 % 5.05 % 4.55 % 3.62 % Service cost 5.58 5.27 4.57 5.58 5.15 4.41 5.37 5.00 3.69 Interest cost 5.40 5.06 4.03 5.38 4.96 3.80 5.05 4.61 3.35 Rate of 4.23 4.20 4.18 - - - 4.46 4.46 4.46 Expected long-term 7.63 7.13 6.70 7.79 7.34 6.76 - - - Discount Rates We estimate international approach cash flows. Our benefit, and other outside actuaries Median corporate forward interest rate curve is applied to our expected future cash outflows Fair Value The fair category were as follows: May 31, 2025 May 31, 2024 In Millions Level 1 Level 2 Level 3 Total Assets Level 1 Level 2 Level 3 Total Assets Fair value measurement of pension Equity (a) $ 200.6 $ 383.8 $ - $ 584.4 $ 225.9 $ 391.4 $ - $ 617.3 Fixed income (b) 1,529.7 2,019.2 - 3,548.9 1,497.0 2,014.4 - 3,511.4 Real asset investments (c) 59.7 - - 59.7 82.6 - - 82.6 Other investments (d) - - 0.1 0.1 - - 0.1 0.1 Cash and accruals 137.2 0.1 - 137.3 158.3 0.1 - 158.4 Fair value measurement of pension $ 1,927.2 $ 2,403.1 $ 0.1 $ 4,330.4 $ 1,963.8 $ 2,405.9 $ 0.1 $ 4,369.8 Assets measured at net asset value (e) 986.8 1,069.9 Total pension plan $ 5,317.2 $ 5,439.7 Fair value measurement of Fixed income (b) $ 90.5 $ - $ - $ 90.5 $ 95.1 $ - $ - $ 95.1 Cash and accruals 33.7 - - 33.7 24.9 - - 24.9 Fair value measurement of $ 124.2 $ - $ - $ 124.2 $ 120.0 $ - $ - $ 120.0 Assets measured at net asset value (e) 333.8 343.2 Total postretirement $ 458.0 $ 463.2 (a) allocations. prices managers, information available. (b) policy allocations, and prices from funds valued at unit values provided by the investment managers, which (c) at closing prices from national exchanges. (d) of the underlying investments and contract fair values established by the providers. (e) measured at fair value using fair value hierarchy. There were no securities 34.3 were no Expected Rate of Return on Plan Assets Our expected estimate of future long-term returns long-term inflation one particular year does not, by itself, significantly influence our evaluation. Weighted-average Defined Benefit Pension Plans Other Postretirement Benefit Plans Fiscal Year Fiscal Year 2025 2024 2025 2024 Asset category: United States equities 6.4 % 7.2 % 26.0 % 27.8 % International equities 4.4 4.1 14.9 14.4 Private equities 9.3 10.2 9.1 11.2 Fixed income 70.9 68.3 50.0 46.6 Real assets 9.0 10.2 - - Total 100.0 % 100.0 % 100.0 % 100.0 % The investment participants defined benefit classes, pension 8 5 equities; 7 71 9 For other U.S. postretirement benefit plans, the long-term investment 26 13 7 54 asset classes may vary tactically around the long-term policy allocations based Contributions and Future Benefit Payments We no t postemployment benefit our decision payments, which reflect expected future service, as appropriate, are In Millions Defined Benefit Pension Plans Other Postretirement Benefit Plans Gross Payments Postemployment Benefit Plans Fiscal 2026 $ 360.9 $ 30.9 $ 22.8 Fiscal 2027 367.0 28.6 19.2 Fiscal 2028 372.7 28.0 17.6 Fiscal 2029 378.1 27.4 15.5 Fiscal 2030 382.9 26.7 13.9 Fiscal 2031-2035 1,965.2 121.2 56.9 Defined Contribution Plans The employees. Employee Stock assets of $ 19.7 19.5 of 96.1 $ 94.0 97.2 We options 3.2 million as 3.5 balances. The Company stock fund and the ESOP collectively held 292.7 393.0 2025, and May 26, 2024, respectively. |
Income Taxes |
12 Months Ended |
|---|---|
May 25, 2025 | |
| Income Taxes [Abstract] | |
| Income Taxes | NOTE 15. INCOME TAXES The thereon are as follows: Fiscal Year In Millions 2025 2024 2023 Earnings before income taxes and after-tax earnings United States $ 2,493.2 $ 2,907.0 $ 2,740.5 Foreign 341.8 121.3 400.0 Total earnings $ 2,835.0 $ 3,028.3 $ 3,140.5 Income taxes: Currently payable: Federal $ 549.0 $ 512.8 $ 487.1 State and local 80.1 72.0 82.2 Foreign 65.5 58.2 65.1 Total current 694.6 643.0 634.4 Deferred: Federal (62.6) 27.4 9.6 State and local (3.3) 9.7 (8.1) Foreign (55.0) (85.6) (23.7) Total deferred (120.9) (48.5) (22.2) Total income $ 573.7 $ 594.5 $ 612.2 The following table reconciles the United States statutory income tax rate Fiscal Year 2025 2024 2023 United States statutory rate 21.0 % 21.0 % 21.0 % State and local income taxes, net of federal tax benefits 2.1 2.1 1.5 Foreign rate differences (1.7) (1.6) (1.0) Research and development tax credit (1.5) (1.2) - Stock based compensation (0.2) (0.3) (1.0) Divestitures, net (0.3) - (0.8) Other, net 0.8 (0.4) (0.2) Effective income tax rate 20.2 % 19.6 % 19.5 % The tax effects of temporary differences that In Millions May 25, 2025 May 26, 2024 Accrued liabilities $ 42.9 $ 43.6 Compensation and employee benefits 144.3 147.7 Unrealized hedges 23.1 - Pension 74.2 83.0 Tax credit carryforwards 58.1 48.6 Stock, partnership, and miscellaneous investments 4.0 3.6 Capitalized research and development 305.5 103.6 Prepayments 65.9 - Capital losses 28.5 71.7 Net operating losses 265.2 259.6 Other 161.1 92.3 Gross deferred tax assets 1,172.8 853.7 Valuation 253.7 255.5 Net deferred tax assets 919.1 598.2 Brands 1,436.0 1,429.4 Fixed assets 496.1 393.2 Intangible assets 247.3 195.8 Tax lease transactions - 3.4 Inventories 31.3 34.2 Stock, partnership, and miscellaneous investments 512.2 439.7 Unrealized hedges - 20.2 Other 110.9 115.4 Gross deferred tax liabilities 2,833.8 2,631.3 Net deferred tax liability $ 1,914.7 $ 2,033.1 We does income) within the carryforward period to allow us to realize these deferred tax Information about our valuation allowance follows: In Millions May 25, 2025 Pillsbury acquisition losses $ 106.4 State and foreign loss carryforwards 59.0 Capital loss carryforwards 20.9 Other 67.4 Total $ 253.7 As of May 25, 2025, we believe it is more-likely-than-not that the remainder Information about our tax loss carryforwards follows In Millions May 25, 2025 Foreign loss carryforwards $ 256.0 Federal operating loss carryforwards 2.3 State operating loss carryforwards 6.9 Total tax loss carryforwards $ 265.2 Our foreign loss carryforwards expire as follows: In Millions May 25, 2025 Expire in fiscal 2026 and 2027 $ 2.9 Expire in fiscal 2028 and beyond 13.9 Do not expire (a) 239.2 Total foreign loss carryforwards $ 256.0 (a) 218.6 The United States Congress monitor developments as the legislation progresses and evaluate any In Pillar jurisdiction beginning statements. legislation guidance and evaluate any potential impact on our consolidated financial On August Tax beginning have a material impact on our financial results, including our annual As of no t recognized 2.3 foreign operations will be remitted reinvested earnings. longer indefinitely reinvested. All not permanently reinvested and local country withholding taxes are We are may elapse before an uncertain tax position is audited and finally resolved. timing outcome. particular position would usually require the use of cash. The number (federal and state). Various vary by jurisdiction, but are generally from 3 5 The Internal Revenue Service (IRS) is currently auditing examinations are currently in or financial position. During fiscal 2024, fiscal 2019. expect the settled all issues with the IRS for fiscal years 2015 and prior. The Brazilian years. These Alimentos transaction. We 2012 through 2013 have been resolved with no adjustments. We the amount of judgment related to the expected ultimate resolution of uncertain tax positions The following table sets forth and 98.2 effective income tax rate in future periods. certain We also would income taxes upon recognition of the state tax benefits included therein. Fiscal Year In Millions 2025 2024 Balance, beginning of year $ 149.0 $ 181.2 Tax positions related Additions 48.7 24.6 Tax positions related Additions 13.0 6.3 Reductions (2.8) (55.2) Settlements (2.6) (0.8) Lapses in statutes of limitations (6.3) (7.1) Balance, end of year $ 199.0 $ 149.0 As of no t expect are not outcomes. Our unrecognized tax benefit liability was classified in other We recognized 2.7 27.0 penalties as of 6.1 had $ 24.2 |
Commitments and Contingencies |
12 Months Ended |
|---|---|
May 25, 2025 | |
| Commitments and Contingencies [Abstract] | |
| Commitments and Contingencies | NOTE 16. COMMITMENTS AND CONTINGENCIES As 163.5 consolidated affiliates, mainly CPW. the guarantees. balance sheet arrangements were not material as of May 25, 2025. |
Business Segment and Geographic Information |
12 Months Ended |
|---|---|
May 25, 2025 | |
| Business Segment and Geographic Information [Abstract] | |
| Business Segment and Geographic Information | NOTE 17. BUSINESS SEGMENT AND GEOGRAPHIC INFORMATION We operate America Pet, Pet segment to reflect that the composition of our results. Our North America Retail stores, categories products, organic products including ready-to-eat cereal, frozen Our product categories include super-premium shelf-stable through owned Caribbean and Latin American markets, as well as products we export activities are reported in the region or country where the end customer Our North superstore hospitals. Our product categories include dog and and and span foods. Our categories unbaked and and nearly We sell to vending, and supermarket bakeries. Our CODM the performance targets completed by the incentive compensation. Operating transformation, included within corporate and other net include contributions, restructuring of our inventories segments. segment distribution activities fixed assets and depreciation and amortization expenses are neither maintained Our operating segment results were as follows: Net sales for our North America Retail operating units were as follows: Fiscal Year In Millions 2025 2024 2023 U.S. Meals & Baking Solutions $ 4,238.9 $ 4,324.3 $ 4,426.3 U.S. Morning Foods 3,439.9 3,561.8 3,620.1 U.S. Snacks 3,356.3 3,538.9 3,611.0 Canada 871.9 1,048.4 1,002.5 Total $ 11,907.0 $ 12,473.4 $ 12,659.9 Net sales by class of similar products were as follows: Fiscal Year In Millions 2025 2024 2023 Snacks $ 4,187.4 $ 4,327.3 $ 4,431.5 Cereal 3,078.6 3,187.5 3,209.5 Convenient meals 2,816.1 2,906.5 2,961.6 Pet 2,585.8 2,382.7 2,476.0 Dough 2,384.2 2,423.6 2,390.5 Baking mixes and ingredients 1,940.2 1,996.0 2,037.3 Yogurt 1,391.6 1,482.5 1,472.9 Super-premium ice cream 721.6 728.7 703.7 Other 381.1 422.4 411.2 Total $ 19,486.6 $ 19,857.2 $ 20,094.2 The following tables provide financial information by geographic area: Fiscal Year In Millions 2025 2024 2023 Net sales: United States $ 15,780.4 $ 16,062.2 $ 16,322.2 Non-United States 3,706.2 3,795.0 3,772.0 Total $ 19,486.6 $ 19,857.2 $ 20,094.2 In Millions May 25, 2025 May 26, 2024 Cash and cash equivalents: United States $ 47.8 $ 87.8 Non-United States 316.1 330.2 Total $ 363.9 $ 418.0 In Millions May 25, 2025 May 26, 2024 Land, buildings, and equipment: United States $ 3,036.6 $ 3,155.3 Non-United States 596.0 708.6 Total $ 3,632.6 $ 3,863.9 Fiscal Year In Millions North America Retail International North America Pet North America Foodservice Total Segment net sales $ 12,473.4 $ 2,746.5 $ 2,375.8 $ 2,258.7 $ 19,854.4 Corporate and other net sales 2.8 Total net sales $ 19,857.2 Cost of sales $ 7,650.8 $ 2,073.4 $ 1,446.8 $ 1,781.9 Selling, general, and 1,742.2 547.9 443.1 161.3 Segment operating profit $ 3,080.4 $ 125.2 $ 485.9 $ 315.5 $ 4,007.0 Unallocated corporate items 333.9 Restructuring, transformation, 241.4 Operating profit $ 3,431.7 Fiscal Year In Millions North America Retail International North America Pet North America Foodservice Total Segment net sales $ 11,907.0 $ 2,797.8 $ 2,470.8 $ 2,300.9 $ 19,476.5 Corporate and other net sales 10.1 Total net sales $ 19,486.6 Cost of sales $ 7,472.1 $ 2,110.6 $ 1,476.4 $ 1,772.9 Selling, general, and 1,705.0 590.8 493.4 172.6 Segment operating profit $ 2,729.9 $ 96.4 $ 501.0 $ 355.4 $ 3,682.7 Unallocated corporate items 395.5 Divestitures gain, net (95.9) Restructuring, transformation, 78.3 Operating profit $ 3,304.8 Fiscal Year In Millions North America Retail International North America Pet North America Foodservice Total Net sales $ 12,659.9 $ 2,769.5 $ 2,473.3 $ 2,191.5 $ 20,094.2 Cost of sales 7,782.2 2,055.2 1,611.7 1,749.5 Selling, general, and 1,696.4 552.5 416.1 152.0 Segment operating profit $ 3,181.3 $ 161.8 $ 445.5 $ 290.0 $ 4,078.6 Unallocated corporate items 1,033.2 Divestitures gain, net (444.6) Restructuring, transformation, 56.2 Operating profit $ 3,433.8 |
Supplemental Information |
12 Months Ended |
|---|---|
May 25, 2025 | |
| Supplemental Information [Abstract] | |
| Supplemental Information | NOTE 18. SUPPLEMENTAL The components of certain Consolidated Balance Sheets accounts are as follows: In Millions May 25, 2025 May 26, 2024 Receivables: Customers $ 1,829.1 $ 1,721.2 Less allowance for doubtful accounts (33.2) (25.0) Total $ 1,795.9 $ 1,696.2 In Millions May 25, 2025 May 26, 2024 Inventories: Finished goods $ 1,883.9 $ 1,827.7 Raw materials and packaging 460.0 500.5 Grain 112.5 111.1 Excess of FIFO over LIFO cost (a) (545.6) (541.1) Total $ 1,910.8 $ 1,898.2 Inventories 1,305.6 1,135.3 difference between LIFO valuation method. In Millions May 25, 2025 May 26, 2024 Prepaid expenses and other current assets: Prepaid expenses $ 269.0 $ 266.1 Other receivables 141.2 221.6 Derivative receivables 11.6 20.8 Miscellaneous 42.9 60.0 Total $ 464.7 $ 568.5 In Millions May 25, 2025 May 26, 2024 Land, buildings, and equipment: Equipment $ 6,722.2 $ 6,985.6 Buildings 2,535.8 2,640.2 Construction in progress 598.1 899.9 Capitalized software 531.6 506.8 Land 50.4 57.3 Equipment under finance lease 7.3 10.3 Buildings under finance lease 0.3 0.3 Total land, 10,445.7 11,100.4 Less accumulated depreciation (6,813.1) (7,236.5) Total $ 3,632.6 $ 3,863.9 In Millions May 25, 2025 May 26, 2024 Other assets: Investments in and advances to joint ventures $ 431.9 $ 397.9 Right of use operating lease assets 399.1 366.1 Deferred income taxes 186.1 167.5 Pension assets 144.7 89.1 Miscellaneous 297.2 273.9 Total $ 1,459.0 $ 1,294.5 In Millions May 25, 2025 May 26, 2024 Other current liabilities: Accrued trade and consumer promotions $ 527.2 $ 502.3 Accrued payroll 311.7 304.7 Accrued interest, including interest rate swaps 148.9 88.1 Current portion of operating lease liabilities 115.3 102.2 Accrued taxes 102.1 82.1 Restructuring, transformation, and other exit costs reserve 77.1 14.8 Derivative payables 31.5 20.6 Dividends payable 22.9 20.9 Miscellaneous 287.3 283.7 Total $ 1,624.0 $ 1,419.4 In Millions May 25, 2025 May 26, 2024 Other non-current liabilities: Accrued compensation and benefits, including obligations for underfunded $ 642.5 $ 708.6 Non-current portion of operating lease liabilities 302.8 282.8 Accrued taxes 215.9 186.8 Miscellaneous 67.4 105.3 Total $ 1,228.6 $ 1,283.5 Please see Note 3 for additional information on certain assets and liabilities classified as held Certain Consolidated Statements of Earnings amounts are as follows: Fiscal Year In Millions 2025 2024 2023 Depreciation and amortization $ 539.0 $ 552.7 $ 546.6 Research and development expense 256.6 257.8 257.6 Advertising and media expense (including production and 847.5 824.6 810.0 The components of interest, net are as follows: Fiscal Year In Millions 2025 2024 2023 Interest expense $ 559.6 $ 509.4 $ 400.5 Capitalized interest (10.8) (11.4) (4.4) Interest income (24.6) (18.8) (14.0) Interest, net $ 524.2 $ 479.2 $ 382.1 Certain Consolidated Statements of Cash Flows amounts are as follows: Fiscal Year In Millions 2025 2024 2023 Cash interest payments $ 474.4 $ 464.4 $ 337.1 Cash paid for income taxes 599.2 660.5 682.6 |
Quarterly Data (Unaudited) |
12 Months Ended |
|---|---|
May 25, 2025 | |
| Quarterly Data (Unaudited) [Abstract] | |
| Quarterly Data (Unaudited) | NOTE 19. QUARTERLY Summarized quarterly data for fiscal 2025 and fiscal 2024 follows: First Quarter Second Quarter Third Quarter Fourth Quarter Fiscal Year Fiscal Year Fiscal Year Fiscal Year In Millions, Except Per 2025 2024 2025 2024 2025 2024 2025 2024 Net sales $ 4,848.1 $ 4,904.7 $ 5,240.1 $ 5,139.4 $ 4,842.2 $ 5,099.2 $ 4,556.2 $ 4,713.9 Gross margin 1,688.8 1,770.5 1,931.1 1,765.9 1,639.1 1,707.4 1,474.0 1,688.3 Net earnings attributable to 579.9 673.5 795.7 595.5 625.6 670.1 294.0 557.5 EPS: Basic $ 1.03 $ 1.15 $ 1.43 $ 1.03 $ 1.14 $ 1.18 $ 0.53 $ 0.98 Diluted $ 1.03 $ 1.14 $ 1.42 $ 1.02 $ 1.12 $ 1.17 $ 0.53 $ 0.98 In enhancing 70.1 17.4 charges party 252.8 242.3 10.5 related 16.2 agreement to 6.7 Pet Brands and the fiscal 2024 acquisition of a pet food business in Europe. In 103.1 Top , True Chews , and EPIC 53.2 13.4 transaction costs related to our acquisition of a pet food business in Europe. |
Schedule II - Valuation of Qualifying Accounts |
12 Months Ended |
|---|---|
May 25, 2025 | |
| Schedule II - Valuation of Qualifying Accounts [Abstract] | |
| Schedule II - Valuation of Qualifying Accounts | General Mills, Inc. and Subsidiaries Schedule II - Valuation Fiscal Year In Millions 2025 2024 2023 Allowance for doubtful accounts: Balance at beginning of year $ 25.0 $ 26.9 $ 28.3 Additions charged to expense 36.6 27.6 29.6 Bad debt write-offs (28.5) (29.4) (28.6) Other adjustments and reclassifications 0.1 (0.1) (2.4) Balance at end of year $ 33.2 $ 25.0 $ 26.9 Valuation Balance at beginning of year $ 255.5 $ 259.2 $ 185.1 (Benefits) additions charged to expense (1.9) (2.3) 77.1 Adjustments due to acquisitions, translation of amounts, and other 0.1 (1.4) (3.0) Balance at end of year $ 253.7 $ 255.5 $ 259.2 Reserve for restructuring and other exit charges: Balance at beginning of year $ 14.8 $ 47.7 $ 36.8 Additions charged to expense, including translation amounts 70.1 0.1 41.7 Net amounts utilized for restructuring activities (7.8) (33.0) (30.8) Balance at end of year $ 77.1 $ 14.8 $ 47.7 Reserve for LIFO valuation: Balance at beginning of year $ 541.1 $ 600.9 $ 463.4 Increase 4.5 (59.8) 137.5 Balance at end of year $ 545.6 $ 541.1 $ 600.9 |
Insider Trading Arrangements |
3 Months Ended |
|---|---|
May 25, 2025 | |
| Insider Trading Arrangements [Line Items] | |
| Rule 10b51 Arr Adopted Flag | false |
| Rule 10b51 Arr Trmntd Flag | false |
| Non Rule 10b51 Arr Adopted Flag | false |
| Non Rule 10b51 Arr Trmntd Flag | false |
Insider Trading Policies and Procedures |
12 Months Ended |
|---|---|
May 25, 2025 | |
| Insider Trading Policies Proc [Line Items] | |
| Insider Trd Policies Proc Adopted Flag | true |
Cybersecurity Risk Management and Strategy Disclosure |
12 Months Ended |
|---|---|
May 25, 2025 | |
| Cybersecurity Risk Management Strategy And Governance [Line Items] | |
| Cybersecurity Risk Management Processes For Assessing Identifying And Managing Threats [Text Block] | Cybersecurity Risk Management and Strategy Our part of assessment Framework, and assess our maturity against that framework in partnership We necessary viewpoint to help behavior cybersecurity team” exercises to understand where processes or controls may be insufficient Our internal leverage previous regularly for cybersecurity risk regularly participate in multiple cybersecurity forums to share threat We cybersecurity responding, technical recovery, |
| Cybersecurity Risk Management Processes Integrated Flag | true |
| Cybersecurity Risk Management Processes Integrated [Text Block] | Our part of assessment |
| Cybersecurity Risk Management Third Party Engaged Flag | false |
| Cybersecurity Risk Third Party Oversight And Identification Processes Flag | false |
| Cybersecurity Risk Materially Affected Or Reasonably Likely To Materially Affect Registrant Flag | false |
| Cybersecurity Risk Materially Affected Or Reasonably Likely To Materially Affect Registrant [Text Block] | Although not cybersecurity breach, |
| Cybersecurity Risk Board Of Directors Oversight [Text Block] | The |
| Cybersecurity Risk Board Committee Or Subcommittee Responsible For Oversight [Text Block] | Security & |
| Cybersecurity Risk Process For Informing Board Committee Or Subcommittee Responsible For Oversight [Text Block] | Our Security & quarterly cybersecurity |
| Cybersecurity Risk Role Of Management [Text Block] | The regular continually program. |
| Cybersecurity Risk Management Positions Or Committees Responsible Flag | true |
| Cybersecurity Risk Management Positions Or Committees Responsible [Text Block] | Our led by Enterprise |
| Cybersecurity Risk Management Expertise Of Management Responsible [Text Block] | Our Vice degree General Mills. He has strategic and operational responsibility risks are identified, to how General Mills detects, responds, contains, and recovers |
| Cybersecurity Risk Process For Informing Management Or Committees Responsible [Text Block] | Our Security & quarterly cybersecurity committee Officer, Chief Supply Chain Officer, |
| Cybersecurity Risk Management Positions Or Committees Responsible Report To Board Flag | true |
Summary of Significant Accounting Policies (Policies) |
12 Months Ended |
|---|---|
May 25, 2025 | |
| Summary of Significant Accounting Policies [Abstract] | |
| Cash and Cash Equivalents | Cash and Cash Equivalents We consider all investments |
| Inventories | Inventories All market. Grain inventories are all net changes in value recorded in earnings currently. Inventories realizable value. Shipping when the related finished product is shipped to and accepted by the customer. |
| Land, Buildings, Equipment, and Depreciation | Land, Buildings, Equipment, and Depreciation Land is recorded at historical cost. at charged 40 depreciated over 3 10 retired, recognized in earnings. Long-lived assets asset flows from identifiable cash excess independent appraisals, as appropriate. |
| Goodwill and Other Intangible Assets | Goodwill and Other Intangible Assets Goodwill indicate that impairment may have of the the liabilities reporting impairment charge goodwill allocated rates for sales and profits are determined using inputs from our long-range perpetuity growth assumptions, market comparables, and other factors. We evaluate the determination competition, other economic in an uncertain or expenditures, amortized on a straight-line basis, over their useful lives, generally ranging 4 30 Our Blue , , , Progresso , , , , , , and annually and the fair range plan, assumed royalty rates that could be payable if we did not own Our finite-lived intangible in circumstances indicate estimated undiscounted future cash Assets generally be model or other similar valuation model, as appropriate. |
| Leases | Leases We we account for lease and non-lease components (e.g., Any recognize lease costs for these us with reasonably certain agreements do not include an option to purchase the leased asset, residual value guarantees, We include rental payments based on included recognized in the period in which the obligation is incurred. As information available at the commencement date of the lease arrangement |
| Investments in Unconsolidated Joint Ventures | Investments in Unconsolidated Joint Ventures Our undistributed and make goods, and finished goods to the joint ventures, generally at market prices. In addition, but not capital, profitability, nature, these projections the carrying value of investment to its fair value if we concluded the impairment is other than temporary. |
| Revenue Recognition | Revenue Recognition Our revenues primarily result – the has been satisfied and control of the our customer. consideration transaction and participation and the However, product interest. Payment terms and any significant financing components. our channel, and other specific written off into factors. We do |
| Environmental costs | Environmental Costs Environmental costs expensed. Liabilities estimable, generally no later than the completion of feasibility studies or our commitment |
| Advertising Production Costs | Advertising Production Costs We expense the |
| Research and Development | Research and Development All expenditures for research and development for wages, consulting, and supplies including assets at facilities that are engaged in pilot plant activities. |
| Foreign Currency Translation | Foreign Currency Translation For translated during the period. Translation Gains investments instruments designated as net investment hedges. These gains and losses are recorded |
| Derivative Instruments | Derivative Instruments All derivatives are recognized fair value, derivatives are as reclassified associated amounts reported in cash flows from operating activities in our Consolidated |
| Stock-based Compensation | Stock-based Compensation We generally of stock-based selling, general each reportable segment in our segment results. Certain equity-based compensation plans contain provisions eligible award retirement-eligible individuals is recognized from the grant date over We report the |
| Defined Benefit Pension, Other Postretirement Benefit, and Postemployment Benefit Plans | Defined Benefit Pension, Other Postretirement Benefit, and Postemployment We employees. Under the Postemployment benefits of service) are charged to expense when incurred. Our postemployment We the funded status in the year in which the changes occur through AOCI. |
| Use of Estimates | Use of Estimates Preparing requires and liabilities These defined benefit pension, other postretirement benefit and postemployment |
| New Accounting Standards | New Accounting Standards In the The (CODM) included within segment or loss to assess segment performance. of consolidated Financial Statements for additional information on the In except for the rollforward the key terms confirmed obligation position. See Note 8 to the consolidated Financial Statements for additional In the first quarter The new hedge apply a new reference rate, operations and financial position. |
Acquisition and Divestitures (Tables) |
12 Months Ended |
|---|---|
May 25, 2025 | |
| Acquisition and Divestitures [Abstract] | |
| Components of Assets Held for Sale and Liabilities Held for Sale | In Millions May 25, 2025 Inventories $ 56.2 Prepaid expenses and other current assets 15.3 Land, buildings, and equipment 230.5 Goodwill 252.6 Other intangible assets 160.7 Other assets 25.1 Assets held for sale $ 740.4 Other current liabilities $ 8.9 Other liabilities 9.5 Liabilities held for sale $ 18.4 |
Restructuring, Transformation, Impairment, and Other Exit Costs (Tables) |
12 Months Ended |
|---|---|
May 25, 2025 | |
| Restructuring, Transformation, Impairment, and Other Exit Costs [Abstract] | |
| Schedule of Restructuring and Transformation Charges | In Millions Global transformation initiative $ 70.1 Charges associated with restructuring actions previously 17.4 Total restructuring $ 87.5 In Millions Commercial strategy actions $ 18.6 Charges associated with restructuring actions previously 20.2 Total restructuring $ 38.8 In Millions Global supply chain actions $ 36.2 Network optimization actions 6.4 Charges associated with restructuring actions previously 18.4 Total restructuring $ 61.0 |
| Schedule of Restructuring, Transformation, and Impairment Charges and Restructuring Initiative Project-Related Costs | Fiscal Year In Millions 2025 2024 2023 Restructuring, transformation, impairment, and other exit costs $ 78.3 $ 241.4 $ 56.2 Cost of sales 9.2 17.6 4.8 Total restructuring, 87.5 259.0 61.0 Restructuring initiative project-related costs classified in cost of $ 0.5 $ 2.0 $ 2.4 |
| Rollforward of Restructuring and Other Exit Cost Reserves | In Millions Severance Other Exit Costs Total Reserve balance as of May 29, 2022 $ 35.4 $ 1.4 $ 36.8 Fiscal 2023 charges, including foreign currency translation 41.6 0.1 41.7 Utilized in fiscal 2023 (29.4) (1.4) (30.8) Reserve balance as of May 28, 2023 47.6 0.1 47.7 Fiscal 2024 charges, including foreign currency translation - 0.1 0.1 Utilized in fiscal 2024 (32.8) (0.2) (33.0) Reserve balance as of May 26, 2024 14.8 - 14.8 Fiscal 2025 charges, including foreign currency translation 70.1 - 70.1 Utilized in fiscal 2025 (7.8) - (7.8) Reserve balance as of May 25, 2025 $ 77.1 $ - $ 77.1 |
Investments in Unconsolidated Joint Ventures (Tables) |
12 Months Ended |
|---|---|
May 25, 2025 | |
| Investments in Unconsolidated Joint Ventures [Abstract] | |
| Joint Venture Related Financial Statement Activity | In Millions May 25, 2025 May 26, 2024 Cumulative investments $ 431.8 $ 368.9 Goodwill and other intangible assets 469.9 448.9 Aggregate advances included in cumulative investments 314.6 280.8 Fiscal Year In Millions 2025 2024 2023 Sales to joint ventures $ 7.8 $ 4.8 $ 5.8 Net (repayments) advances (13.3) 2.7 32.2 Dividends received 44.6 50.4 69.9 |
| Summarized Joint Venture Financial Statement Activity on 100% Basis | Fiscal Year In Millions 2025 2024 2023 Net sales: CPW $ 1,647.3 $ 1,718.5 $ 1,618.9 HDJ 323.1 319.3 338.5 Total net sales 1,970.4 2,037.8 1,957.4 Gross margin 686.8 672.2 667.7 Earnings before income taxes 89.4 145.2 169.3 Earnings after income taxes 61.5 119.9 126.9 In Millions May 25, 2025 May 26, 2024 Current assets $ 751.0 $ 777.4 Noncurrent assets 788.3 784.0 Current liabilities 1,314.1 1,310.6 Noncurrent liabilities 96.3 88.2 |
Goodwill and Other Intangible Assets (Tables) |
12 Months Ended |
|---|---|
May 25, 2025 | |
| Goodwill and Other Intangible Assets [Abstract] | |
| Components of Goodwill and Other Intangible Assets | In Millions May 25, 2025 May 26, 2024 Goodwill $ 15,622.4 $ 14,750.7 Other intangible assets: Intangible assets not subject to amortization: Brands and other indefinite-lived intangibles 6,816.7 6,728.6 Intangible assets subject to amortization: Customer relationships and other finite-lived intangibles 420.9 402.2 Less accumulated amortization (156.2) (150.9) Intangible assets subject to amortization 264.7 251.3 Other intangible assets 7,081.4 6,979.9 Total $ 22,703.8 $ 21,730.6 |
| Changes in Carrying Amount of Goodwill | In Millions North America Retail North America Pet North America Foodservice International (a) Corporate and Joint Ventures Total Balance as of May 29, 2022 $ 6,552.9 $ 6,062.8 $ 648.8 $ 721.6 $ 392.4 $ 14,378.5 Acquisition - - 156.8 - - 156.8 Divestitures (2.0) - - (0.4) - (2.4) Other activity, primarily (8.5) - - (12.8) (0.4) (21.7) Balance as of May 28, 2023 6,542.4 6,062.8 805.6 708.4 392.0 14,511.2 Acquisitions - - - 318.1 26.9 345.0 Impairment charge - - - (117.1) - (117.1) Other activity, primarily (0.5) - (0.1) 7.7 4.5 11.6 Balance as of May 26, 2024 6,541.9 6,062.8 805.5 917.1 423.4 14,750.7 Acquisition - 1,086.7 - - - 1,086.7 Divestiture (14.6) - - - - (14.6) Reclassified to assets held for sale (202.6) - (50.0) - - (252.6) Other activity, primarily (1.2) - - 34.6 18.8 52.2 Balance as of May 25, 2025 $ 6,323.5 $ 7,149.5 $ 755.5 $ 951.7 $ 442.2 $ 15,622.4 The accumulated impairment losses of $ 117.1 |
| Changes in Carrying Amount of Other Intangible Assets | In Millions Total Balance as of May 29, 2022 $ 6,999.9 Acquisition 3.8 Divestiture (3.6) Other activity, primarily (32.5) Balance as of May 28, 2023 6,967.6 Acquisition 132.6 Impairment charges (103.1) Other activity, primarily (17.2) Balance as of May 26, 2024 6,979.9 Acquisition 320.0 Divestiture (44.4) Reclassified to assets held for sale (160.7) Other activity, primarily (13.4) Balance as of May 25, 2025 $ 7,081.4 |
Leases (Tables) |
12 Months Ended |
|---|---|
May 25, 2025 | |
| Leases [Abstract] | |
| Lease Cost | Fiscal Year In Millions 2025 2024 2023 Operating lease cost $ 145.7 $ 128.9 $ 127.6 Variable 7.5 8.9 6.1 Short-term lease cost 32.6 32.2 30.0 |
| Maturities of Operating and Finance Lease Obligations | In Millions Operating Leases Finance Leases Fiscal 2026 $ 134.0 $ - Fiscal 2027 99.5 0.6 Fiscal 2028 78.7 0.4 Fiscal 2029 57.9 - Fiscal 2030 31.6 - After fiscal 2030 72.2 - Total noncancelable $ 473.9 $ 1.0 Less: Interest (55.8) - Present value of lease obligations $ 418.1 $ 1.0 |
| Lessee Operating Lease Weighted Averages | May 25, 2025 May 26, 2024 Weighted-average 5.0 years 5.4 years Weighted-average 4.9 % 4.9 % |
| Supplemental Cash Flow Information Related to Leases | Fiscal Year In Millions 2025 2024 Cash paid for amounts included in the measurement of lease liabilities $ 152.7 $ 129.7 Right of use assets obtained in exchange for new lease liabilities $ 163.4 $ 139.8 |
Financial Instruments, Risk Management Activities, and Fair Values (Tables) |
12 Months Ended |
|---|---|
May 25, 2025 | |
| Derivative [Line Items] | |
| Schedule of Marketable Debt and Equity Securities | Cost Fair Value Gross Unrealized Gains Gross Unrealized Losses Fiscal Year Fiscal Year Fiscal Year Fiscal Year In Millions 2025 2024 2025 2024 2025 2024 2025 2024 Available for $ 2.3 $ 2.3 $ 2.3 $ 2.3 $ - $ - $ - $ - Equity securities 0.3 0.3 4.9 4.6 4.6 4.3 - - Total $ 2.6 $ 2.6 $ 7.2 $ 6.9 $ 4.6 $ 4.3 $ - $ - Marketable Securities In Millions Cost Fair Value Under 1 year (current) $ 2.3 $ 2.3 Equity securities 0.3 4.9 Total $ 2.6 $ 7.2 |
| Schedule of Unallocated Corporate items | Fiscal Year In Millions 2025 2024 2023 Net loss on mark-to-market valuation of commodity positions $ (37.4) $ (15.4) $ (154.4) Net loss (gain) on commodity positions reclassified from unallocated corporate 52.8 40.0 (89.5) Net mark-to-market revaluation of certain grain inventories 0.3 14.5 (48.0) Net mark-to-market valuation of certain commodity positions recognized $ 15.7 $ 39.1 $ (291.9) |
| Schedule of Pre-tax Amounts of Cash-Settled Interest Rate Hedges in AOCI | In Millions Gain (Loss) 3.2 % notes due February 10, 2027 $ 2.9 1.5 % notes due April 27, 2027 (0.6) 4.2 % notes due April 17, 2028 (3.0) 3.907 % notes due April 13, 2029 (3.4) 2.25 % notes due October 14, 2031 12.6 4.95 % notes due March 29, 2033 (1.1) 5.25 % notes due January 30, 2035 0.1 4.55 % notes due April 17, 2038 (7.0) 5.4 % notes due June 15, 2040 (8.4) 4.15 % notes due February 15, 2043 7.0 4.7 % notes due April 17, 2048 (10.9) Net pre-tax hedge loss in AOCI $ (11.8) |
| Schedule of Interest Rate Swaps | In Millions, Except Average May 25, 2025 May 26, 2024 Pay-floating swaps - notional amount $ 2,283.9 $ 1,150.8 Average 3.1 % 2.5 % Average pay rate 4.0 % 4.9 % |
| Schedule of Fair Value Measurement Inputs | May 25, 2025 May 25, 2025 Fair Values Fair Values In Millions Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Derivatives designated as hedging instruments: Interest rate contracts (a) (b) $ - $ 5.0 $ - $ 5.0 $ - $ (11.4) $ - $ (11.4) Foreign exchange contracts (a) (c) - 4.1 - 4.1 - (13.5) - (13.5) Total - 9.1 - 9.1 - (24.9) - (24.9) Derivatives not designated as hedging Foreign exchange contracts (a) (c) - 0.2 - 0.2 - (1.3) - (1.3) Commodity contracts (a) (d) 0.6 0.9 - 1.5 (0.2) (7.4) - (7.6) Grain contracts (a) (d) - 2.2 - 2.2 - (4.0) - (4.0) Total 0.6 3.3 - 3.9 (0.2) (12.7) - (12.9) Other assets and liabilities reported at fair value: Marketable investments (a) (e) 4.9 2.3 - 7.2 - - - - Long-lived assets (f) - 2.0 - 2.0 - - - - Total 4.9 4.3 - 9.2 - - - - Total assets, liabilities, and $ 5.5 $ 16.7 $ - $ 22.2 $ (0.2) $ (37.6) $ - $ (37.8) May 26, 2024 May 26, 2024 Fair Values Fair Values In Millions Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Derivatives designated as hedging instruments: Interest rate contracts (a) (b) $ - $ - $ - $ - $ - $ (39.8) $ - $ (39.8) Foreign exchange contracts (a) (c) - 5.7 - 5.7 - (5.1) - (5.1) Total - 5.7 - 5.7 - (44.9) - (44.9) Derivatives not designated as hedging Foreign exchange contracts (a) (c) - - - - - (5.2) - (5.2) Commodity contracts (a) (d) 2.1 1.1 - 3.2 - (12.1) - (12.1) Grain contracts (a) (d) - 7.9 - 7.9 - (6.5) - (6.5) Total 2.1 9.0 - 11.1 - (23.8) - (23.8) Other assets and liabilities reported at fair value: Marketable investments (a) (e) 4.6 2.3 - 6.9 - - - - Indefinite-lived intangible assets (f) - - 25.0 25.0 - - - - Total 4.6 2.3 25.0 31.9 - - - - Total assets, liabilities, and $ 6.7 $ 17.0 $ 25.0 $ 48.7 $ - $ (68.7) $ - $ (68.7) (a) other liabilities, and cash equivalents. (b) item in a fair 2,280.6 675.6 1,605.0 Balance amount of fair value hedging basis adjustments was $ 3.2 (c) (d) (e) (f) Fair previously announced restructuring actions described in Note 4. (a) other liabilities, and cash equivalents. (b) item in a 1,116.6 of May 26, 2024, the cumulative amount of fair value hedging basis adjustments 34.2 (c) (d) (e) (f) |
| Schedule of Gains And Losses on Hedges | Interest Rate Contracts Foreign Exchange Contracts Equity Contracts Commodity Contracts Total Fiscal Year Fiscal Year Fiscal Year Fiscal Year Fiscal Year In Millions 2025 2024 2025 2024 2025 2024 2025 2024 2025 2024 Derivatives in Cash Flow Hedging Amount of gain (loss) recognized in $ 0.1 $ - $ (8.1) $ (4.3) $ - $ - $ - $ - $ (8.0) $ (4.3) Amount of net (loss) gain reclassified (0.2) 0.9 2.5 3.2 - - - - 2.3 4.1 Amount of net gain recognized in - 0.3 - - - - - - - 0.3 Derivatives in Fair Value Amount of net gain (loss) recognized 3.0 (0.2) - - - - - - 3.0 (0.2) Derivatives Not Designated as Amount of net (loss) gain recognized $ - $ - $ (16.0) $ (8.5) $ 6.3 $ 21.6 $ (22.0) $ 15.1 $ (31.7) $ 28.2 (a) expenses for foreign cost of sales 12.7 10.2 ended 7.0 reclassified from AOCI into SG&A was $ 3.8 (b) (c) SG&A for equity contracts, and cost of sales for commodity contracts. |
| Reconciliation of Net Fair Values of Assets Subject to Offsetting Arrangements | May 25, 2025 Assets Liabilities Gross Amounts Not Offset in the Balance Sheet (d) Gross Amounts Not Offset in the Balance Sheet (d) In Millions Gross Amounts of Recognized Assets Gross Liabilities Offset in the Balance Sheet Net Amounts of Assets Financial Instruments Cash Collateral Received Net Amount (b) Gross Amounts of Recognized Liabilities Gross Assets Offset in the Balance Sheet Net Amounts of Liabilities (a) Financial Instruments Cash Collateral Pledged Net Amount (c) Commodity contracts $ 1.5 $ - $ 1.5 $ (1.0) $ - $ 0.5 $ (7.6) $ - $ (7.6) $ 1.0 $ - $ (6.6) Interest rate contracts 4.6 - 4.6 (2.2) - 2.4 (18.3) - (18.3) 2.2 - (16.1) Foreign exchange contracts 4.3 - 4.3 (3.8) - 0.5 (14.8) - (14.8) 3.8 - (11.0) Equity contracts 3.8 - 3.8 (1.0) - 2.8 (1.0) - (1.0) 1.0 - - Total $ 14.2 $ - $ 14.2 $ (8.0) $ - $ 6.2 $ (41.7) $ - $ (41.7) $ 8.0 $ - $ (33.7) (a) (b) (c) (d) May 26, 2024 Assets Liabilities Gross Amounts Not Offset in the Balance Sheet (e) Gross Amounts Not Offset in the Balance Sheet (e) In Millions Gross Amounts of Recognized Assets Gross Liabilities Offset in the Balance Sheet (a) Net Amounts of Assets Financial Instruments Cash Collateral Received Net Amount (c) Gross Amounts of Recognized Liabilities Gross Assets Offset in the Balance Sheet (a) Net Amounts of Liabilities (b) Financial Instruments Cash Collateral Pledged Net Amount (d) Commodity contracts $ 3.2 $ - $ 3.2 $ (3.2) $ - $ - $ (12.1) $ - $ (12.1) $ 3.2 $ 3.5 $ (5.4) Interest rate contracts - - - - - - (49.4) - (49.4) - 26.3 (23.1) Foreign exchange contracts 5.7 - 5.7 (3.9) - 1.8 (10.3) - (10.3) 3.9 - (6.4) Equity contracts 4.4 - 4.4 - - 4.4 (0.2) - (0.2) - - (0.2) Total $ 13.3 $ - $ 13.3 $ (7.1) $ - $ 6.2 $ (72.0) $ - $ (72.0) $ 7.1 $ 29.8 $ (35.1) (a) (b) (c) (d) (e) |
| Reconciliation of Net Fair Values of Liabilities Subject to Offsetting Arrangements | May 25, 2025 Assets Liabilities Gross Amounts Not Offset in the Balance Sheet (d) Gross Amounts Not Offset in the Balance Sheet (d) In Millions Gross Amounts of Recognized Assets Gross Liabilities Offset in the Balance Sheet Net Amounts of Assets Financial Instruments Cash Collateral Received Net Amount (b) Gross Amounts of Recognized Liabilities Gross Assets Offset in the Balance Sheet Net Amounts of Liabilities (a) Financial Instruments Cash Collateral Pledged Net Amount (c) Commodity contracts $ 1.5 $ - $ 1.5 $ (1.0) $ - $ 0.5 $ (7.6) $ - $ (7.6) $ 1.0 $ - $ (6.6) Interest rate contracts 4.6 - 4.6 (2.2) - 2.4 (18.3) - (18.3) 2.2 - (16.1) Foreign exchange contracts 4.3 - 4.3 (3.8) - 0.5 (14.8) - (14.8) 3.8 - (11.0) Equity contracts 3.8 - 3.8 (1.0) - 2.8 (1.0) - (1.0) 1.0 - - Total $ 14.2 $ - $ 14.2 $ (8.0) $ - $ 6.2 $ (41.7) $ - $ (41.7) $ 8.0 $ - $ (33.7) (a) (b) (c) (d) May 26, 2024 Assets Liabilities Gross Amounts Not Offset in the Balance Sheet (e) Gross Amounts Not Offset in the Balance Sheet (e) In Millions Gross Amounts of Recognized Assets Gross Liabilities Offset in the Balance Sheet (a) Net Amounts of Assets Financial Instruments Cash Collateral Received Net Amount (c) Gross Amounts of Recognized Liabilities Gross Assets Offset in the Balance Sheet (a) Net Amounts of Liabilities (b) Financial Instruments Cash Collateral Pledged Net Amount (d) Commodity contracts $ 3.2 $ - $ 3.2 $ (3.2) $ - $ - $ (12.1) $ - $ (12.1) $ 3.2 $ 3.5 $ (5.4) Interest rate contracts - - - - - - (49.4) - (49.4) - 26.3 (23.1) Foreign exchange contracts 5.7 - 5.7 (3.9) - 1.8 (10.3) - (10.3) 3.9 - (6.4) Equity contracts 4.4 - 4.4 - - 4.4 (0.2) - (0.2) - - (0.2) Total $ 13.3 $ - $ 13.3 $ (7.1) $ - $ 6.2 $ (72.0) $ - $ (72.0) $ 7.1 $ 29.8 $ (35.1) (a) (b) (c) (d) (e) |
| Schedule of After-tax Amounts of Cash Flow Hedges in AOCI | In Millions After-Tax Unrealized loss from interest rate cash flow hedges $ (7.1) Unrealized loss from foreign currency cash flow hedges (0.3) After-tax loss in AOCI related to hedge derivatives $ (7.4) |
| Customer Concentrations | Percent of total Consolidated North America Retail North America Foodservice International North America Pet Walmart (a): Net sales 22 % 31 % 10 % 2 % 18 % Accounts receivable 24 % 8 % 8 % 15 % Five largest customers: Net sales 55 % 54 % 27 % 66 % (a) |
| Schedule of Accounts Payable to Suppliers that Utilize Third Party Service | In Millions Total Balance as of May 26, 2024 $ 1,404.4 Additions, including foreign currency translation 4,116.8 Payments (4,093.7) Balance as of May 25, 2025 $ 1,427.5 |
| Interest Rate Contracts [Member] | |
| Derivative [Line Items] | |
| Schedule of Swap Contract Maturities | In Millions Notional Amount Fiscal 2026 $ 681.7 Fiscal 2030 750.0 Fiscal 2032 852.2 Total $ 2,283.9 |
| Equity Swap [Member] | |
| Derivative [Line Items] | |
| Schedule of Swap Contract Maturities | In Millions Notional Amount Fiscal 2026 $ 194.5 Fiscal 2027 8.2 Total $ 202.7 |
Debt (Tables) |
12 Months Ended |
|---|---|
May 25, 2025 | |
| Debt [Abstract] | |
| Schedule of Components of Notes Payable | May 25, 2025 May 26, 2024 In Millions Notes Payable Weighted- Average Interest Rate Notes Payable Weighted- Average Interest Rate U.S. commercial paper $ 669.4 4.5 % $ - - % Financial institutions 7.6 5.8 11.8 8.8 Total $ 677.0 4.5 % $ 11.8 8.8 % |
| Schedule of Credit Facilities and Lines of Credit | In Millions Borrowing Capacity Borrowed Amount Committed credit facility expiring October 2029 $ 2,700.0 $ - Uncommitted credit facilities and lines of credit 703.7 7.6 Total $ 3,403.7 $ 7.6 |
| Schedule of Long-term Debt Instruments | In Millions, Except Weighted-Average Weighted-Average Interest Rate (a) May 25, 2025 May 26, 2024 Notes due fiscal 2025 - % $ - $ 1,613.5 Notes due fiscal 2026 0.8 1,533.9 1,693.2 Notes due fiscal 2027 3.1 2,276.5 1,687.8 Notes due fiscal 2028 4.2 1,400.0 1,400.0 Notes due fiscal 2029 4.5 1,352.2 1,313.5 Notes due fiscal 2030 3.9 1,500.0 750.0 Notes due fiscal 2031 - 2051 4.1 6,389.7 4,736.1 Net impact of unamortized debt discounts, debt issuance (250.7) (275.8) 14,201.6 12,918.3 Less amount due within one year (1,528.4) (1,614.1) Total long-term debt $ 12,673.2 $ 11,304.2 (a) |
| Schedule of Outstanding Bonds | In Millions May 25, 2025 May 26, 2024 US Dollar $ 9,055.3 $ 8,855.3 Euro $ 5,397.0 $ 4,338.8 |
Stockholders' Equity (Tables) |
12 Months Ended |
|---|---|
May 25, 2025 | |
| Stockholders' Equity [Abstract] | |
| Share Repurchases | Fiscal Year In Millions 2025 2024 2023 Shares of common stock 18.7 29.2 18.0 Aggregate purchase price $ 1,213.5 $ 2,021.2 $ 1,403.6 |
| Schedule of Total Comprehensive Income (Loss) | Fiscal 2025 General Mills Noncontrolling Interests In Millions Pretax Tax Net Net Net earnings, including earnings attributable to $ 2,295.2 $ 23.7 Other comprehensive (loss) income: Foreign currency translation $ (161.9) $ 46.6 (115.3) 0.4 Net actuarial gain 21.3 (4.1) 17.2 - Other fair value changes: Hedge derivatives (8.0) 0.6 (7.4) - Reclassification to earnings: Foreign currency translation (a) 33.9 - 33.9 - Hedge derivatives (b) (2.3) 2.1 (0.2) - Amortization of losses and prior service costs (c) 58.1 (11.6) 46.5 - Other comprehensive (loss) income $ (58.9) $ 33.6 (25.3) 0.4 Total comprehensive $ 2,269.9 $ 24.1 (a) (b) expenses for foreign exchange contracts. (c) Fiscal 2024 General Mills Noncontrolling Interests In Millions Pretax Tax Net Net Net earnings, including earnings attributable to $ 2,496.6 $ 22.0 Other comprehensive (loss) income: Foreign currency translation $ (98.4) $ 11.7 (86.7) 0.1 Net actuarial loss (239.4) 52.3 (187.1) - Other fair value changes: Hedge derivatives (4.4) 1.2 (3.2) - Reclassification to earnings: Hedge derivatives (a) (4.1) 1.6 (2.5) - Amortization of losses and prior service costs (b) 46.5 (9.8) 36.7 - Other comprehensive (loss) income $ (299.8) $ 57.0 (242.8) 0.1 Total comprehensive $ 2,253.8 $ 22.1 (a) expenses for foreign exchange contracts. (b) Fiscal 2023 General Mills Noncontrolling Interests In Millions Pretax Tax Net Net Net earnings, including earnings attributable to $ 2,593.9 $ 15.7 Other comprehensive (loss) income: Foreign currency translation $ (110.2) $ (0.3) (110.5) (0.3) Net actuarial loss (295.5) 67.5 (228.0) - Other fair value changes: Hedge derivatives 3.8 (2.5) 1.3 - Reclassification to earnings: Foreign currency translation (a) (7.4) - (7.4) - Hedge derivatives (b) (24.7) 6.0 (18.7) - Amortization of losses and prior service costs (c) 72.9 (16.0) 56.9 - Other comprehensive loss $ (361.1) $ 54.7 (306.4) (0.3) Total comprehensive $ 2,287.5 $ 15.4 (a) (b) expenses for foreign exchange contracts. (c) |
| Schedule of Accumulated Other Comprehensive Income (Loss) | In Millions May 25, 2025 May 26, 2024 Foreign currency translation adjustments $ (876.7) $ (795.3) Unrealized (loss) gain (7.4) 0.2 Pension, other postretirement, and postemployment benefits: Net actuarial loss (1,726.8) (1,806.3) Prior service credits 65.9 81.7 Accumulated other comprehensive loss $ (2,545.0) $ (2,519.7) |
Stock Plans (Tables) |
12 Months Ended |
|---|---|
May 25, 2025 | |
| Stock Plans [Abstract] | |
| Schedule of Estimated Fair Value of Stock Options Granted and Assumptions Used for Black-Scholes Option-Pricing Model | Fiscal Year 2025 2024 2023 Estimated fair values of stock options granted $ 13.26 $ 17.47 $ 14.16 Assumptions: Risk-free interest rate 4.5 % 4.0 % 3.3 % Expected term 8.5 years 8.5 years 8.5 years Expected volatility 21.6 % 21.5 % 20.9 % Dividend yield 3.8 % 2.8 % 3.1 % |
| Schedule of Compensation Expense Related to Stock-Based Payments | Fiscal Year In Millions 2025 2024 2023 Windfall tax benefits from stock-based payments $ 5.3 $ 10.2 $ 32.3 Fiscal Year In Millions 2025 2024 2023 Compensation expense related to stock option awards $ 15.8 $ 13.9 $ 12.3 Fiscal Year In Millions 2025 2024 2023 Compensation expense related to restricted stock units and performance $ 75.9 $ 81.4 $ 99.4 |
| Information on Stock Option Activity | Options Outstanding (Thousands) Weighted-Average Exercise Price Per Share Weighted-Average Remaining Contractual Term (Years) Aggregate Intrinsic Value (Millions) Balance as of May 26, 2024 12,044.4 $ 59.19 5.0 $ 120.5 Granted 1,322.3 63.51 Exercised (780.9) 54.57 Forfeited or expired (152.2) 67.29 Outstanding as of May 25, 2025 12,433.6 $ 59.84 4.7 $ 14.4 Exercisable as of May 25, 2025 8,071.6 $ 56.31 3.1 $ 14.4 |
| Net Cash Proceeds and Intrinsic Value of Options Exercised | Fiscal Year In Millions 2025 2024 2023 Net cash proceeds $ 43.0 $ 25.5 $ 232.3 Intrinsic value of options exercised $ 11.7 $ 7.6 $ 118.7 |
| Information on Restricted Stock Unit and Performance Share Units Activity | Equity Classified Liability Classified Share-Settled Units (Thousands) Weighted-Average Grant-Date Fair Value Share-Settled Units (Thousands) Weighted-Average Grant-Date Fair Value Non-vested as of May 26, 2024 4,590.1 $ 66.94 69.1 $ 67.49 Granted 1,671.8 63.37 26.2 63.27 Vested (1,768.0) 63.35 (27.3) 65.28 Forfeited (403.6) 68.26 (9.1) 67.56 Non-vested as of May 25, 2025 4,090.3 $ 66.90 58.9 $ 66.63 Fiscal Year 2025 2024 2023 Number of units granted (thousands) 1,698.0 1,517.8 2,066.4 Weighted-average $ 63.37 $ 73.38 $ 69.77 |
Earnings Per Share (Tables) |
12 Months Ended |
|---|---|
May 25, 2025 | |
| Earnings Per Share [Abstract] | |
| Schedule of Basic and Diluted EPS | Fiscal Year In Millions, Except per Share Data 2025 2024 2023 Net earnings attributable to General Mills - as reported $ 2,295.2 $ 2,496.6 $ 2,593.9 Capital appreciation paid on Class A Interests in GMC (a) (10.5) - - Net earnings for EPS calculation $ 2,284.7 $ 2,496.6 $ 2,593.9 Average number 554.5 575.5 594.8 Incremental share effect from: (b) Stock options 1.2 1.8 3.6 Restricted stock units and performance share units 1.8 2.2 2.8 Average number 557.5 579.5 601.2 Earnings per share — basic $ 4.12 $ 4.34 $ 4.36 Earnings per share — diluted $ 4.10 $ 4.31 $ 4.31 (a) (b) method. because they were not dilutive were as follows: |
| Stock Options and Restricted Units not Dilutive | Fiscal Year In Millions 2025 2024 2023 Anti-dilutive stock options, restricted stock units, 4.7 2.1 0.8 |
Retirement Benefits and Postemployment Benefits (Tables) |
12 Months Ended |
|---|---|
May 25, 2025 | |
| Retirement Benefits and Postemployment Benefits [Abstract] | |
| Health Care Cost Trend Rates | Fiscal Year 2025 2024 Health care cost trend rate for next year 7.9 % and 7.9 % 7.3 % and 7.3 % Rate to which the cost trend rate is assumed to decline (ultimate rate) 4.5 % 4.5 % Year 2034 2033 |
| Summarized Financial Information | Defined Benefit Pension Plans Other Postretirement Benefit Plans Postemployment Benefit Plans Fiscal Year Fiscal Year Fiscal Year In Millions 2025 2024 2025 2024 2025 2024 Change in Plan Assets: Fair value at beginning of year $ 5,439.7 $ 5,778.6 $ 463.2 $ 456.0 Actual return on assets 188.6 (23.2) 35.7 45.6 Employer contributions 30.7 30.0 0.1 0.1 Plan participant contributions 2.4 2.0 6.6 6.4 Benefits payments (349.5) (349.5) (47.6) (44.9) Foreign currency 5.3 1.8 - - Fair value at end of year (a) $ 5,317.2 $ 5,439.7 $ 458.0 $ 463.2 Change in Projected Benefit Obligation: Benefit obligation at beginning of year $ 5,801.7 $ 5,970.7 $ 403.0 $ 430.6 $ 129.0 $ 131.0 Service cost 51.8 56.8 4.3 4.7 7.0 7.4 Interest cost 306.9 296.5 21.1 21.3 4.0 4.0 Plan amendment 0.4 1.2 - - - (9.6) Curtailment/other - (13.9) - - 8.1 10.2 Plan participant contributions 2.4 2.0 6.6 6.4 - - Actuarial (gain) loss (191.4) (174.4) (48.1) (14.1) (2.1) 10.3 Benefits payments (349.5) (339.1) (49.0) (45.7) (22.9) (24.3) Foreign currency 5.2 1.9 (0.5) (0.2) - - Projected benefit obligation at end of year (a) $ 5,627.5 $ 5,801.7 $ 337.4 $ 403.0 $ 123.1 $ 129.0 Plan assets (less) more than benefit obligation as of $ (310.3) $ (362.0) $ 120.6 $ 60.2 $ (123.1) $ (129.0) (a) May 31, 2025 , and May 31, 2024 . |
| Amounts Recognized in AOCI | Defined Benefit Pension Plans Other Postretirement Benefit Plans Postemployment Benefit Plans Total Fiscal Year Fiscal Year Fiscal Year Fiscal Year In Millions 2025 2024 2025 2024 2025 2024 2025 2024 Net actuarial (loss) gain $ (1,935.4) $ (1,991.1) $ 212.7 $ 190.4 $ (4.1) $ (5.6) $ (1,726.8) $ (1,806.3) Prior service (costs) credits (7.5) (9.8) 67.4 84.7 6.0 6.8 65.9 81.7 Amounts recorded in accumulated $ (1,942.9) $ (2,000.9) $ 280.1 $ 275.1 $ 1.9 $ 1.2 $ (1,660.9) $ (1,724.6) |
| Accumulated Benefit Obligations in Excess of Plan Assets | Defined Benefit Pension Plans Fiscal Year In Millions 2025 2024 Projected benefit obligation $ 449.7 $ 449.4 Accumulated benefit obligation 440.1 438.8 Plan assets at fair value 16.3 12.0 |
| Components of Net Periodic Benefit Expense | Defined Benefit Pension Plans Other Postretirement Benefit Plans Postemployment Benefit Plans Fiscal Year Fiscal Year Fiscal Year In Millions 2025 2024 2023 2025 2024 2023 2025 2024 2023 Service cost $ 51.8 $ 56.8 $ 70.3 $ 4.3 $ 4.7 $ 5.1 $ 7.0 $ 7.4 $ 8.4 Interest cost 306.9 296.5 258.5 21.1 21.3 17.9 4.0 4.0 3.1 Expected return on (420.1) (417.7) (420.5) (35.9) (34.7) (31.1) - - - Amortization of losses 100.4 86.5 113.2 (20.5) (20.4) (19.3) 0.5 0.1 0.4 Amortization of prior 1.4 1.8 1.5 (22.1) (21.8) (23.2) (1.6) 0.3 0.3 Other adjustments - - - - - - 11.5 8.3 10.4 Settlement or - (4.0) (0.7) - - - - - - Net expense (income) $ 40.4 $ 19.9 $ 22.3 $ (53.1) $ (50.9) $ (50.6) $ 21.4 $ 20.1 $ 22.6 |
| Weighted-Average Assumptions | Defined Benefit Pension Plans Other Postretirement Benefit Plans Postemployment Benefit Plans Fiscal Year Fiscal Year Fiscal Year 2025 2024 2025 2024 2025 2024 Discount rate 5.79 % 5.52 % 5.67 % 5.52 % 5.04 % 5.05 % Rate of salary increases 3.88 4.23 - - 4.13 4.46 Defined Benefit Pension Plans Other Postretirement Benefit Plans Postemployment Benefit Plans Fiscal Year Fiscal Year Fiscal Year 2025 2024 2023 2025 2024 2023 2025 2024 2023 Discount rate 5.52 % 5.18 % 4.39 % 5.52 % 5.19 % 4.36 % 5.05 % 4.55 % 3.62 % Service cost 5.58 5.27 4.57 5.58 5.15 4.41 5.37 5.00 3.69 Interest cost 5.40 5.06 4.03 5.38 4.96 3.80 5.05 4.61 3.35 Rate of 4.23 4.20 4.18 - - - 4.46 4.46 4.46 Expected long-term 7.63 7.13 6.70 7.79 7.34 6.76 - - - |
| Schedule of Allocation of Plan Assets, Including Fair Value Hierarchy Levels and Weighted-Average Target Asset Allocations | May 31, 2025 May 31, 2024 In Millions Level 1 Level 2 Level 3 Total Assets Level 1 Level 2 Level 3 Total Assets Fair value measurement of pension Equity (a) $ 200.6 $ 383.8 $ - $ 584.4 $ 225.9 $ 391.4 $ - $ 617.3 Fixed income (b) 1,529.7 2,019.2 - 3,548.9 1,497.0 2,014.4 - 3,511.4 Real asset investments (c) 59.7 - - 59.7 82.6 - - 82.6 Other investments (d) - - 0.1 0.1 - - 0.1 0.1 Cash and accruals 137.2 0.1 - 137.3 158.3 0.1 - 158.4 Fair value measurement of pension $ 1,927.2 $ 2,403.1 $ 0.1 $ 4,330.4 $ 1,963.8 $ 2,405.9 $ 0.1 $ 4,369.8 Assets measured at net asset value (e) 986.8 1,069.9 Total pension plan $ 5,317.2 $ 5,439.7 Fair value measurement of Fixed income (b) $ 90.5 $ - $ - $ 90.5 $ 95.1 $ - $ - $ 95.1 Cash and accruals 33.7 - - 33.7 24.9 - - 24.9 Fair value measurement of $ 124.2 $ - $ - $ 124.2 $ 120.0 $ - $ - $ 120.0 Assets measured at net asset value (e) 333.8 343.2 Total postretirement $ 458.0 $ 463.2 (a) allocations. prices managers, information available. (b) policy allocations, and prices from funds valued at unit values provided by the investment managers, which (c) at closing prices from national exchanges. (d) of the underlying investments and contract fair values established by the providers. (e) measured at fair value using fair value hierarchy. Defined Benefit Pension Plans Other Postretirement Benefit Plans Fiscal Year Fiscal Year 2025 2024 2025 2024 Asset category: United States equities 6.4 % 7.2 % 26.0 % 27.8 % International equities 4.4 4.1 14.9 14.4 Private equities 9.3 10.2 9.1 11.2 Fixed income 70.9 68.3 50.0 46.6 Real assets 9.0 10.2 - - Total 100.0 % 100.0 % 100.0 % 100.0 % |
| Estimated Benefit Payments | In Millions Defined Benefit Pension Plans Other Postretirement Benefit Plans Gross Payments Postemployment Benefit Plans Fiscal 2026 $ 360.9 $ 30.9 $ 22.8 Fiscal 2027 367.0 28.6 19.2 Fiscal 2028 372.7 28.0 17.6 Fiscal 2029 378.1 27.4 15.5 Fiscal 2030 382.9 26.7 13.9 Fiscal 2031-2035 1,965.2 121.2 56.9 |
Income Taxes (Tables) |
12 Months Ended |
|---|---|
May 25, 2025 | |
| Income Taxes [Abstract] | |
| Components of Earnings Before Income Taxes and After-Tax Earnings from Joint Ventures and Corresponding Income Taxes Thereon | Fiscal Year In Millions 2025 2024 2023 Earnings before income taxes and after-tax earnings United States $ 2,493.2 $ 2,907.0 $ 2,740.5 Foreign 341.8 121.3 400.0 Total earnings $ 2,835.0 $ 3,028.3 $ 3,140.5 Income taxes: Currently payable: Federal $ 549.0 $ 512.8 $ 487.1 State and local 80.1 72.0 82.2 Foreign 65.5 58.2 65.1 Total current 694.6 643.0 634.4 Deferred: Federal (62.6) 27.4 9.6 State and local (3.3) 9.7 (8.1) Foreign (55.0) (85.6) (23.7) Total deferred (120.9) (48.5) (22.2) Total income $ 573.7 $ 594.5 $ 612.2 |
| Schedule of Effective Income Tax Rate Reconciliation | Fiscal Year 2025 2024 2023 United States statutory rate 21.0 % 21.0 % 21.0 % State and local income taxes, net of federal tax benefits 2.1 2.1 1.5 Foreign rate differences (1.7) (1.6) (1.0) Research and development tax credit (1.5) (1.2) - Stock based compensation (0.2) (0.3) (1.0) Divestitures, net (0.3) - (0.8) Other, net 0.8 (0.4) (0.2) Effective income tax rate 20.2 % 19.6 % 19.5 % |
| Tax Effects of Temporary Differences that Give Rise to Deferred Tax Assets and Liabilities | In Millions May 25, 2025 May 26, 2024 Accrued liabilities $ 42.9 $ 43.6 Compensation and employee benefits 144.3 147.7 Unrealized hedges 23.1 - Pension 74.2 83.0 Tax credit carryforwards 58.1 48.6 Stock, partnership, and miscellaneous investments 4.0 3.6 Capitalized research and development 305.5 103.6 Prepayments 65.9 - Capital losses 28.5 71.7 Net operating losses 265.2 259.6 Other 161.1 92.3 Gross deferred tax assets 1,172.8 853.7 Valuation 253.7 255.5 Net deferred tax assets 919.1 598.2 Brands 1,436.0 1,429.4 Fixed assets 496.1 393.2 Intangible assets 247.3 195.8 Tax lease transactions - 3.4 Inventories 31.3 34.2 Stock, partnership, and miscellaneous investments 512.2 439.7 Unrealized hedges - 20.2 Other 110.9 115.4 Gross deferred tax liabilities 2,833.8 2,631.3 Net deferred tax liability $ 1,914.7 $ 2,033.1 In Millions May 25, 2025 Pillsbury acquisition losses $ 106.4 State and foreign loss carryforwards 59.0 Capital loss carryforwards 20.9 Other 67.4 Total $ 253.7 In Millions May 25, 2025 Foreign loss carryforwards $ 256.0 Federal operating loss carryforwards 2.3 State operating loss carryforwards 6.9 Total tax loss carryforwards $ 265.2 In Millions May 25, 2025 Expire in fiscal 2026 and 2027 $ 2.9 Expire in fiscal 2028 and beyond 13.9 Do not expire (a) 239.2 Total foreign loss carryforwards $ 256.0 (a) 218.6 |
| Schedule of Changes in Total Gross Unrecognized Tax Benefit Liabilities, Excluding Accrued Interest | Fiscal Year In Millions 2025 2024 Balance, beginning of year $ 149.0 $ 181.2 Tax positions related Additions 48.7 24.6 Tax positions related Additions 13.0 6.3 Reductions (2.8) (55.2) Settlements (2.6) (0.8) Lapses in statutes of limitations (6.3) (7.1) Balance, end of year $ 199.0 $ 149.0 |
Business Segment and Geographic Information (Tables) |
12 Months Ended |
|---|---|
May 25, 2025 | |
| Business Segment and Geographic Information [Abstract] | |
| Operating Segment Results | Fiscal Year In Millions North America Retail International North America Pet North America Foodservice Total Segment net sales $ 11,907.0 $ 2,797.8 $ 2,470.8 $ 2,300.9 $ 19,476.5 Corporate and other net sales 10.1 Total net sales $ 19,486.6 Cost of sales $ 7,472.1 $ 2,110.6 $ 1,476.4 $ 1,772.9 Selling, general, and 1,705.0 590.8 493.4 172.6 Segment operating profit $ 2,729.9 $ 96.4 $ 501.0 $ 355.4 $ 3,682.7 Unallocated corporate items 395.5 Divestitures gain, net (95.9) Restructuring, transformation, 78.3 Operating profit $ 3,304.8 Fiscal Year In Millions North America Retail International North America Pet North America Foodservice Total Segment net sales $ 12,473.4 $ 2,746.5 $ 2,375.8 $ 2,258.7 $ 19,854.4 Corporate and other net sales 2.8 Total net sales $ 19,857.2 Cost of sales $ 7,650.8 $ 2,073.4 $ 1,446.8 $ 1,781.9 Selling, general, and 1,742.2 547.9 443.1 161.3 Segment operating profit $ 3,080.4 $ 125.2 $ 485.9 $ 315.5 $ 4,007.0 Unallocated corporate items 333.9 Restructuring, transformation, 241.4 Operating profit $ 3,431.7 Fiscal Year In Millions North America Retail International North America Pet North America Foodservice Total Net sales $ 12,659.9 $ 2,769.5 $ 2,473.3 $ 2,191.5 $ 20,094.2 Cost of sales 7,782.2 2,055.2 1,611.7 1,749.5 Selling, general, and 1,696.4 552.5 416.1 152.0 Segment operating profit $ 3,181.3 $ 161.8 $ 445.5 $ 290.0 $ 4,078.6 Unallocated corporate items 1,033.2 Divestitures gain, net (444.6) Restructuring, transformation, 56.2 Operating profit $ 3,433.8 Fiscal Year In Millions 2025 2024 2023 U.S. Meals & Baking Solutions $ 4,238.9 $ 4,324.3 $ 4,426.3 U.S. Morning Foods 3,439.9 3,561.8 3,620.1 U.S. Snacks 3,356.3 3,538.9 3,611.0 Canada 871.9 1,048.4 1,002.5 Total $ 11,907.0 $ 12,473.4 $ 12,659.9 |
| Net Sales by Class of Similar Products | Fiscal Year In Millions 2025 2024 2023 Snacks $ 4,187.4 $ 4,327.3 $ 4,431.5 Cereal 3,078.6 3,187.5 3,209.5 Convenient meals 2,816.1 2,906.5 2,961.6 Pet 2,585.8 2,382.7 2,476.0 Dough 2,384.2 2,423.6 2,390.5 Baking mixes and ingredients 1,940.2 1,996.0 2,037.3 Yogurt 1,391.6 1,482.5 1,472.9 Super-premium ice cream 721.6 728.7 703.7 Other 381.1 422.4 411.2 Total $ 19,486.6 $ 19,857.2 $ 20,094.2 |
| Financial Information by Geographic Area | Fiscal Year In Millions 2025 2024 2023 Net sales: United States $ 15,780.4 $ 16,062.2 $ 16,322.2 Non-United States 3,706.2 3,795.0 3,772.0 Total $ 19,486.6 $ 19,857.2 $ 20,094.2 In Millions May 25, 2025 May 26, 2024 Cash and cash equivalents: United States $ 47.8 $ 87.8 Non-United States 316.1 330.2 Total $ 363.9 $ 418.0 In Millions May 25, 2025 May 26, 2024 Land, buildings, and equipment: United States $ 3,036.6 $ 3,155.3 Non-United States 596.0 708.6 Total $ 3,632.6 $ 3,863.9 |
Supplemental Information (Tables) |
12 Months Ended |
|---|---|
May 25, 2025 | |
| Supplemental Information [Abstract] | |
| Components of Receivables | In Millions May 25, 2025 May 26, 2024 Receivables: Customers $ 1,829.1 $ 1,721.2 Less allowance for doubtful accounts (33.2) (25.0) Total $ 1,795.9 $ 1,696.2 |
| Components of Inventories | In Millions May 25, 2025 May 26, 2024 Inventories: Finished goods $ 1,883.9 $ 1,827.7 Raw materials and packaging 460.0 500.5 Grain 112.5 111.1 Excess of FIFO over LIFO cost (a) (545.6) (541.1) Total $ 1,910.8 $ 1,898.2 Inventories 1,305.6 1,135.3 difference between LIFO valuation method. |
| Components of Prepaid Expenses and Other Current Assets | In Millions May 25, 2025 May 26, 2024 Prepaid expenses and other current assets: Prepaid expenses $ 269.0 $ 266.1 Other receivables 141.2 221.6 Derivative receivables 11.6 20.8 Miscellaneous 42.9 60.0 Total $ 464.7 $ 568.5 |
| Components of Land, Buildings and Equipment | In Millions May 25, 2025 May 26, 2024 Land, buildings, and equipment: Equipment $ 6,722.2 $ 6,985.6 Buildings 2,535.8 2,640.2 Construction in progress 598.1 899.9 Capitalized software 531.6 506.8 Land 50.4 57.3 Equipment under finance lease 7.3 10.3 Buildings under finance lease 0.3 0.3 Total land, 10,445.7 11,100.4 Less accumulated depreciation (6,813.1) (7,236.5) Total $ 3,632.6 $ 3,863.9 |
| Components of Other Assets | In Millions May 25, 2025 May 26, 2024 Other assets: Investments in and advances to joint ventures $ 431.9 $ 397.9 Right of use operating lease assets 399.1 366.1 Deferred income taxes 186.1 167.5 Pension assets 144.7 89.1 Miscellaneous 297.2 273.9 Total $ 1,459.0 $ 1,294.5 |
| Components of Other Current Liabilities | In Millions May 25, 2025 May 26, 2024 Other current liabilities: Accrued trade and consumer promotions $ 527.2 $ 502.3 Accrued payroll 311.7 304.7 Accrued interest, including interest rate swaps 148.9 88.1 Current portion of operating lease liabilities 115.3 102.2 Accrued taxes 102.1 82.1 Restructuring, transformation, and other exit costs reserve 77.1 14.8 Derivative payables 31.5 20.6 Dividends payable 22.9 20.9 Miscellaneous 287.3 283.7 Total $ 1,624.0 $ 1,419.4 |
| Components of Other Noncurrent Liabilities | In Millions May 25, 2025 May 26, 2024 Other non-current liabilities: Accrued compensation and benefits, including obligations for underfunded $ 642.5 $ 708.6 Non-current portion of operating lease liabilities 302.8 282.8 Accrued taxes 215.9 186.8 Miscellaneous 67.4 105.3 Total $ 1,228.6 $ 1,283.5 |
| Consolidated Statements of Earnings Amounts | Fiscal Year In Millions 2025 2024 2023 Depreciation and amortization $ 539.0 $ 552.7 $ 546.6 Research and development expense 256.6 257.8 257.6 Advertising and media expense (including production and 847.5 824.6 810.0 |
| Components of Interest, Net | Fiscal Year In Millions 2025 2024 2023 Interest expense $ 559.6 $ 509.4 $ 400.5 Capitalized interest (10.8) (11.4) (4.4) Interest income (24.6) (18.8) (14.0) Interest, net $ 524.2 $ 479.2 $ 382.1 |
| Consolidated Statements of Cash Flows Supplemental Disclosures | Fiscal Year In Millions 2025 2024 2023 Cash interest payments $ 474.4 $ 464.4 $ 337.1 Cash paid for income taxes 599.2 660.5 682.6 |
Quarterly Data (Unaudited) (Tables) |
12 Months Ended |
|---|---|
May 25, 2025 | |
| Quarterly Data (Unaudited) [Abstract] | |
| Schedule of Quarterly Financial Information | First Quarter Second Quarter Third Quarter Fourth Quarter Fiscal Year Fiscal Year Fiscal Year Fiscal Year In Millions, Except Per 2025 2024 2025 2024 2025 2024 2025 2024 Net sales $ 4,848.1 $ 4,904.7 $ 5,240.1 $ 5,139.4 $ 4,842.2 $ 5,099.2 $ 4,556.2 $ 4,713.9 Gross margin 1,688.8 1,770.5 1,931.1 1,765.9 1,639.1 1,707.4 1,474.0 1,688.3 Net earnings attributable to 579.9 673.5 795.7 595.5 625.6 670.1 294.0 557.5 EPS: Basic $ 1.03 $ 1.15 $ 1.43 $ 1.03 $ 1.14 $ 1.18 $ 0.53 $ 0.98 Diluted $ 1.03 $ 1.14 $ 1.42 $ 1.02 $ 1.12 $ 1.17 $ 0.53 $ 0.98 |
Basis of Presentation and Reclassifications (Details) |
12 Months Ended |
|---|---|
May 25, 2025 | |
| Annual Reporting Period | 12 months |
Aquisition and Divestitures (Components of Assets Held for Sale and Liabilities Held for Sale) (Details) - United States Yogurt Business [Member] $ in Millions |
May 25, 2025
USD ($)
|
|---|---|
| Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items] | |
| Inventories | $ 56.2 |
| Prepaid expenses and other current assets | 15.3 |
| Land, buildings, and equipment | 230.5 |
| Goodwill | 252.6 |
| Other intangible assets | 160.7 |
| Other assets | 25.1 |
| Assets held for sale | 740.4 |
| Other current liabilities | 8.9 |
| Other liabilities | 9.5 |
| Liabilities held for sale | $ 18.4 |
Restructuring, Transformation, Impairment, and Other Exit Costs (Schedule of Restructuring, Transformation, and Impairment Charges and Restructuring Initiative Project-Related Costs) (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
May 25, 2025 |
May 26, 2024 |
May 28, 2023 |
|
| Restructuring and Related Cost [Line Items] | |||
| Restructuring, transformation, and impairment charges | $ 87.5 | $ 259.0 | $ 61.0 |
| Restruturing initiative project-related costs classified in cost of sales | 0.5 | 2.0 | 2.4 |
| Restructuring, transformation, impairment, and other exit costs [Member] | |||
| Restructuring and Related Cost [Line Items] | |||
| Restructuring, transformation, and impairment charges | 78.3 | 241.4 | 56.2 |
| Cost of sales [Member] | |||
| Restructuring and Related Cost [Line Items] | |||
| Restructuring, transformation, and impairment charges | $ 9.2 | $ 17.6 | $ 4.8 |
Investments in Unconsolidated Joint Ventures (Narrative) (Details) |
12 Months Ended |
|---|---|
|
May 25, 2025
country
| |
| Schedule of Equity Method Investments [Line Items] | |
| Annual reporting period ended March 31 | 12 months |
| Cereal Partners Worldwide [Member] | |
| Schedule of Equity Method Investments [Line Items] | |
| Ownership percentage | 50.00% |
| Cereal Partners Worldwide [Member] | Minimum [Member] | |
| Schedule of Equity Method Investments [Line Items] | |
| Number of countries in which entity operates | 130 |
| Haagen Dazs Japan [Member] | |
| Schedule of Equity Method Investments [Line Items] | |
| Ownership percentage | 50.00% |
Investments in Unconsolidated Joint Ventures (Joint Venture Related Financial Statement Activity - Balance Sheet ) (Details) - USD ($) $ in Millions |
May 25, 2025 |
May 26, 2024 |
|---|---|---|
| Schedule of Equity Method Investments [Line Items] | ||
| Goodwill and other intangible assets | $ 22,703.8 | $ 21,730.6 |
| Joint Venture [Member] | ||
| Schedule of Equity Method Investments [Line Items] | ||
| Cumulative investments | 431.8 | 368.9 |
| Goodwill and other intangible assets | 469.9 | 448.9 |
| Aggregate advances included in cumulative investments | $ 314.6 | $ 280.8 |
Investments in Unconsolidated Joint Ventures (Joint Venture Related Financial Statement Activity - Earnings and Cash Flow) (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
May 25, 2025 |
May 26, 2024 |
May 28, 2023 |
|
| Schedule of Equity Method Investments [Line Items] | |||
| Net advances (repayments) | $ (13.3) | $ 2.7 | $ 32.2 |
| Dividends received | 44.6 | 50.4 | 69.9 |
| Joint Venture [Member] | |||
| Schedule of Equity Method Investments [Line Items] | |||
| Sales | 7.8 | 4.8 | 5.8 |
| Net advances (repayments) | (13.3) | 2.7 | 32.2 |
| Dividends received | $ 44.6 | $ 50.4 | $ 69.9 |
Investments in Unconsolidated Joint Ventures (Summarized Joint Venture Financial Statement Activity on 100% Basis) (Details) - USD ($) $ in Millions |
3 Months Ended | 12 Months Ended | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
May 25, 2025 |
Feb. 23, 2025 |
Nov. 24, 2024 |
Aug. 25, 2024 |
May 26, 2024 |
Feb. 25, 2024 |
Nov. 26, 2023 |
Aug. 27, 2023 |
May 25, 2025 |
May 26, 2024 |
May 28, 2023 |
|
| Schedule of Equity Method Investments [Line Items] | |||||||||||
| Gross margin | $ 1,474.0 | $ 1,639.1 | $ 1,931.1 | $ 1,688.8 | $ 1,688.3 | $ 1,707.4 | $ 1,765.9 | $ 1,770.5 | |||
| Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | $ 2,318.9 | $ 2,518.6 | $ 2,609.6 | ||||||||
| Total current assets | 5,275.7 | 4,580.9 | 5,275.7 | 4,580.9 | |||||||
| Current liabilities | 7,857.3 | 7,033.1 | 7,857.3 | 7,033.1 | |||||||
| Equity Method Investments [Member] | |||||||||||
| Schedule of Equity Method Investments [Line Items] | |||||||||||
| Net sales | 1,970.4 | 2,037.8 | 1,957.4 | ||||||||
| Gross margin | 686.8 | 672.2 | 667.7 | ||||||||
| Earnings before income taxes | 89.4 | 145.2 | 169.3 | ||||||||
| Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | 61.5 | 119.9 | 126.9 | ||||||||
| Total current assets | 751.0 | 777.4 | 751.0 | 777.4 | |||||||
| Noncurrent assets | 788.3 | 784.0 | 788.3 | 784.0 | |||||||
| Current liabilities | 1,314.1 | 1,310.6 | 1,314.1 | 1,310.6 | |||||||
| Noncurrent liabilities | $ 96.3 | $ 88.2 | 96.3 | 88.2 | |||||||
| Cereal Partners Worldwide [Member] | |||||||||||
| Schedule of Equity Method Investments [Line Items] | |||||||||||
| Net sales | 1,647.3 | 1,718.5 | 1,618.9 | ||||||||
| Haagen Dazs Japan [Member] | |||||||||||
| Schedule of Equity Method Investments [Line Items] | |||||||||||
| Net sales | $ 323.1 | $ 319.3 | $ 338.5 | ||||||||
Goodwill and Other Intangible Assets (Narrative) (Details) - USD ($) |
3 Months Ended | 12 Months Ended | |
|---|---|---|---|
May 26, 2024 |
May 25, 2025 |
May 26, 2024 |
|
| Goodwill and Other Intangible Assets [Abstract] | |||
| Future amortization expense, year one | $ 20,000,000 | ||
| Future amortization expense, year two | 20,000,000 | ||
| Future amortization expense, year three | 20,000,000 | ||
| Future amortization expense, year four | 20,000,000 | ||
| Future amortization expense, year five | 20,000,000 | ||
| Goodwill And Intangible Assets [Line Items] | |||
| Goodwill impairment | $ 117,100,000 | ||
| Impairment of intangible assets | $ 103,100,000 | $ 103,100,000 | |
| Impairment Intangible Asset Statement Of Income Or Comprehensive Income Extensible Enumeration | Restructuring, impairment, and other exit costs | ||
| Goodwill and intangible asset impairment | $ 0 | ||
Goodwill and Other Intangible Assets (Components of Goodwill and Other Intangible Assets) (Details) - USD ($) $ in Millions |
May 25, 2025 |
May 26, 2024 |
May 28, 2023 |
May 29, 2022 |
|---|---|---|---|---|
| Goodwill and Other Intangible Assets [Abstract] | ||||
| Goodwill | $ 15,622.4 | $ 14,750.7 | $ 14,511.2 | $ 14,378.5 |
| Intangible assets not subject to amortization: | ||||
| Brands and other indefinite-lived intangibles | 6,816.7 | 6,728.6 | ||
| Intangible assets subject to amortization: | ||||
| Customer relationships and other finite-lived intangibles | 420.9 | 402.2 | ||
| Less accumulated amortization | (156.2) | (150.9) | ||
| Intangible assets subject to amortization | 264.7 | 251.3 | ||
| Other intangible assets | 7,081.4 | 6,979.9 | $ 6,967.6 | $ 6,999.9 |
| Total | $ 22,703.8 | $ 21,730.6 |
Goodwill and Other Intangible Assets (Changes in Carrying Amount of Other Intangible Assets) (Details) - USD ($) $ in Millions |
3 Months Ended | 12 Months Ended | ||
|---|---|---|---|---|
May 26, 2024 |
May 25, 2025 |
May 26, 2024 |
May 28, 2023 |
|
| Indefinite Lived Intangible Assets By Major Class [Line Items] | ||||
| Beginning balance - carrying value | $ 6,979.9 | $ 6,967.6 | $ 6,999.9 | |
| Acquisitions | 320.0 | 132.6 | 3.8 | |
| Divestiture | (44.4) | (3.6) | ||
| Impairment charges | $ (103.1) | (103.1) | ||
| Reclassified to assets held for sale | (160.7) | |||
| Other activity, primarily amortization and foreign currency translation | (13.4) | (17.2) | (32.5) | |
| Ending balance - carrying value | $ 6,979.9 | $ 7,081.4 | $ 6,979.9 | $ 6,967.6 |
Leases (Narrative) (Details) $ in Millions |
May 25, 2025
USD ($)
|
|---|---|
| Leases [Abstract] | |
| Operating leases committed to but not yet commenced | $ 82.5 |
| Operating lease, right-of-use assets classified as held for sale | 25.1 |
| Operating lease, liability, classified as held for sale | $ 19.3 |
Leases (Lease Cost) (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
May 25, 2025 |
May 26, 2024 |
May 28, 2023 |
|
| Leases [Abstract] | |||
| Operating lease cost | $ 145.7 | $ 128.9 | $ 127.6 |
| Variable lease cost | 7.5 | 8.9 | 6.1 |
| Short-term lease cost | $ 32.6 | $ 32.2 | $ 30.0 |
Leases (Maturities of Operating and Finance Lease Obligations) (Details) $ in Millions |
May 25, 2025
USD ($)
|
|---|---|
| Operating Lease Liabilities Payments Due [Abstract] | |
| Fiscal 2026 | $ 134.0 |
| Fiscal 2027 | 99.5 |
| Fiscal 2028 | 78.7 |
| Fiscal 2029 | 57.9 |
| Fiscal 2030 | 31.6 |
| After fiscal 2030 | 72.2 |
| Total noncancelable future lease obligations | 473.9 |
| Less: Interest | (55.8) |
| Present value of lease obligations | $ 418.1 |
| Operating Lease Liability Statement Of Financial Position Extensible List | Other liabilities |
| Finance Lease Liabilities Payments Due [Abstract] | |
| Fiscal 2026 | $ 0.0 |
| Fiscal 2027 | 0.6 |
| Fiscal 2028 | 0.4 |
| Fiscal 2029 | 0.0 |
| Fiscal 2030 | 0.0 |
| After fiscal 2030 | 0.0 |
| Total noncancelable future lease obligations | 1.0 |
| Less: Interest | 0.0 |
| Present value of lease obligations | $ 1.0 |
| Finance Lease Liability Statement Of Financial Position Extensible List | Other liabilities |
Leases (Lessee Operating Lease Weighted Averages) (Details) |
May 25, 2025 |
May 26, 2024 |
|---|---|---|
| Leases [Abstract] | ||
| Weighted-average remaining lease term | 5 years | 5 years 4 months 24 days |
| Weighted-average discount rate | 4.90% | 4.90% |
Leases (Supplemental Cash Flow Information Related to Leases) (Details) - USD ($) $ in Millions |
12 Months Ended | |
|---|---|---|
May 25, 2025 |
May 26, 2024 |
|
| Leases [Abstract] | ||
| Cash paid for amounts included in the measurement of lease liabilities | $ 152.7 | $ 129.7 |
| Right of use assets obtained in exchange for new lease liabilities | $ 163.4 | $ 139.8 |
Financial Instruments, Risk Management Activities, and Fair Values (Schedule of Marketable Debt and Equity Securities) (Details) - USD ($) $ in Millions |
12 Months Ended | |
|---|---|---|
May 25, 2025 |
May 26, 2024 |
|
| Financial Instruments, Risk Management Activities, and Fair Values [Abstract] | ||
| Available for sale debt securities, Cost | $ 2.3 | $ 2.3 |
| Equity securities, Cost | 0.3 | 0.3 |
| Total, Cost | 2.6 | 2.6 |
| Available for sale debt securities, Fair Value | 2.3 | 2.3 |
| Equity securities, Fair Value | 4.9 | 4.6 |
| Total, Fair Value | 7.2 | 6.9 |
| Available for sale debt securities, Gross Unrealized Gains | 0.0 | 0.0 |
| Equity securities, Gross Unrealized Gains | 4.6 | 4.3 |
| Total, Gross Unrealized Gains | 4.6 | 4.3 |
| Available for sale debt securities, Gross Unrealized Losses | 0.0 | 0.0 |
| Equity securities, Gross Unrealized Losses | 0.0 | 0.0 |
| Total, Gross Unrealized Losses | $ 0.0 | $ 0.0 |
Financial Instruments, Risk Management Activities, and Fair Values (Schedule of Marketable Securities Maturities) (Details) - USD ($) $ in Millions |
May 25, 2025 |
May 26, 2024 |
|---|---|---|
| Debt and Equity Securities, FV-NI [Line Items] | ||
| Available for sale debt securities, Cost | $ 2.3 | $ 2.3 |
| Equity securities, Cost | 0.3 | 0.3 |
| Total, Cost | 2.6 | 2.6 |
| Available for sale debt securities, Fair Value | 2.3 | 2.3 |
| Equity securities, Fair Value | 4.9 | 4.6 |
| Total, Fair Value | $ 7.2 | $ 6.9 |
Financial Instruments, Risk Management Activities, and Fair Values (Schedule of Unallocated Corporate items) (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
May 25, 2025 |
May 26, 2024 |
May 28, 2023 |
|
| Commodity Price Risk [Abstract] | |||
| Net (loss) gain on mark-to-market valuation of commodity positions | $ (37.4) | $ (15.4) | $ (154.4) |
| Net loss (gain) on commodity positions reclassified from unallocated corporate items to segment operating profit | 52.8 | 40.0 | (89.5) |
| Net mark-to-market revaluation of certain grain inventories | 0.3 | 14.5 | (48.0) |
| Net mark-to-market valuation of certain commodity positions recognized in unallocated corporate items | $ 15.7 | $ 39.1 | $ (291.9) |
Financial Instruments, Risk Management Activities, and Fair Values (Schedule of Interest Rate Swaps) (Details) - Interest Rate Contracts [Member] - USD ($) $ in Millions |
May 25, 2025 |
May 26, 2024 |
|---|---|---|
| Derivative [Line Items] | ||
| Pay-floating swaps - notional amount | $ 2,283.9 | $ 1,150.8 |
| Average Receive Rate | 3.10% | 2.50% |
| Average Pay Rate | 4.00% | 4.90% |
Financial Instruments, Risk Management Activities, and Fair Values (Schedule of Swap Contract Maturities) (Details) - USD ($) $ in Millions |
May 25, 2025 |
May 26, 2024 |
|---|---|---|
| Interest Rate Contracts [Member] | ||
| Derivative [Line Items] | ||
| Total | $ 2,283.9 | $ 1,150.8 |
| Interest Rate Contracts [Member] | Fiscal 2026 [Member] | ||
| Derivative [Line Items] | ||
| Total | 681.7 | |
| Interest Rate Contracts [Member] | Fiscal 2030 [Member] | ||
| Derivative [Line Items] | ||
| Total | 750.0 | |
| Interest Rate Contracts [Member] | Fiscal 2032 [Member] | ||
| Derivative [Line Items] | ||
| Total | 852.2 | |
| Equity Swap [Member] | ||
| Derivative [Line Items] | ||
| Total | 202.7 | |
| Equity Swap [Member] | Fiscal 2026 [Member] | ||
| Derivative [Line Items] | ||
| Total | 194.5 | |
| Equity Swap [Member] | Fiscal 2027 [Member] | ||
| Derivative [Line Items] | ||
| Total | $ 8.2 |
Financial Instruments, Risk Management Activities, and Fair Values (Schedule of After-tax Amounts of Cash Flow Hedges in AOCI) (Details) - USD ($) $ in Millions |
May 25, 2025 |
May 26, 2024 |
|---|---|---|
| Derivative [Line Items] | ||
| After-tax gain (loss) in AOCI related to hedge derivatives | $ (7.4) | $ 0.2 |
| Interest Rate Contracts [Member] | ||
| Derivative [Line Items] | ||
| After-tax gain (loss) in AOCI related to hedge derivatives | (7.1) | |
| Foreign Exchange Contracts [Member] | ||
| Derivative [Line Items] | ||
| After-tax gain (loss) in AOCI related to hedge derivatives | $ (0.3) |
Financial Instruments, Risk Management Activities, and Fair Values (Schedule of Accounts Payable to Suppliers that Utilize Third Party Service) (Details) $ in Millions |
12 Months Ended |
|---|---|
|
May 25, 2025
USD ($)
| |
| Financial Instruments, Risk Management Activities, and Fair Values [Abstract] | |
| Beginning Balance | $ 1,404.4 |
| Additions, including foreign currency translation | 4,116.8 |
| Payments | (4,093.7) |
| Ending Balance | $ 1,427.5 |
| Supplier Finance Program Obligation Statement Of Financial Position Extensible Enumeration | Accounts payable |
Debt (Schedule of Components of Notes Payable) (Details) - USD ($) $ in Millions |
May 25, 2025 |
May 26, 2024 |
|---|---|---|
| Short-term Debt [Line Items] | ||
| Notes payable | $ 677.0 | $ 11.8 |
| Weighted Average Interest Rate | 4.50% | 8.80% |
| U.S. commercial paper [Member] | ||
| Short-term Debt [Line Items] | ||
| Notes payable | $ 669.4 | $ 0.0 |
| Weighted Average Interest Rate | 4.50% | 0.00% |
| Financial Institutions [Member] | ||
| Short-term Debt [Line Items] | ||
| Notes payable | $ 7.6 | $ 11.8 |
| Weighted Average Interest Rate | 5.80% | 8.80% |
Debt (Schedule of Credit Facilities and Lines of Credit) (Details) - USD ($) |
3 Months Ended | 12 Months Ended | |
|---|---|---|---|
Feb. 23, 2025 |
May 25, 2025 |
Nov. 24, 2024 |
|
| Line of Credit Facility [Line Items] | |||
| Borrowing Capacity | $ 3,403,700,000 | ||
| Borrowed Amount | $ 7,600,000 | ||
| Committed Credit Facilities [Member] | |||
| Line of Credit Facility [Line Items] | |||
| Compliance with credit facility covenants | We were in compliance with all credit facility covenants as of May 25, 2025. | ||
| Line Of Credit Expiring October 2029 [Member] | |||
| Line of Credit Facility [Line Items] | |||
| Borrowing Capacity | $ 2,700,000,000.0 | $ 2,700,000,000 | |
| Borrowed Amount | 0 | ||
| Expiration date of credit facility | Oct. 30, 2029 | ||
| Uncommitted Credit Facilities and Lines of Credit [Member] | |||
| Line of Credit Facility [Line Items] | |||
| Borrowing Capacity | 703,700,000 | ||
| Borrowed Amount | $ 7,600,000 |
Debt (Schedule of Outstanding Bonds) (Details) - USD ($) $ in Millions |
May 25, 2025 |
May 26, 2024 |
|---|---|---|
| Debt Instrument [Line Items] | ||
| Long-term debt, carrying value | $ 14,201.6 | $ 12,918.3 |
| U.S. dollar denominated bonds [Member] | ||
| Debt Instrument [Line Items] | ||
| Long-term debt, carrying value | 9,055.3 | 8,855.3 |
| Euro denominated bonds [Member] | ||
| Debt Instrument [Line Items] | ||
| Long-term debt, carrying value | $ 5,397.0 | $ 4,338.8 |
Stockholders' Equity (Narrative) (Details) - shares shares in Millions |
May 25, 2025 |
Jun. 27, 2022 |
|---|---|---|
| Cumulative preference stock, shared authorized | 5.0 | |
| Number of shares of common stock authorized for repurchase | 100.0 |
Stockholders' Equity (Share Repurchase) (Details) - USD ($) shares in Millions, $ in Millions |
12 Months Ended | ||
|---|---|---|---|
May 25, 2025 |
May 26, 2024 |
May 28, 2023 |
|
| Stockholders' Equity [Abstract] | |||
| Shares of common stock | 18.7 | 29.2 | 18.0 |
| Aggregate purchase price | $ 1,213.5 | $ 2,021.2 | $ 1,403.6 |
Stockholders' Equity (Schedule of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions |
May 25, 2025 |
May 26, 2024 |
|---|---|---|
| Accumulated Other Comprehensive Income (Loss), Net of Tax: | ||
| Foreign currency translation adjustments | $ (876.7) | $ (795.3) |
| Unrealized gain from: | ||
| Hedge derivatives | (7.4) | 0.2 |
| Pension, other postretirement, and postemployment benefits: | ||
| Net actuarial loss | (1,726.8) | (1,806.3) |
| Prior service credits | 65.9 | 81.7 |
| Accumulated other comprehensive loss | $ (2,545.0) | $ (2,519.7) |
Stock Plans (Schedule of Estimated Fair Value of Stock Options Granted and Assumptions Used for Black-Scholes Option-Pricing Model) (Details) - $ / shares |
12 Months Ended | ||
|---|---|---|---|
May 25, 2025 |
May 26, 2024 |
May 28, 2023 |
|
| Stock Plans [Abstract] | |||
| Estimated fair values of stock options granted | $ 13.26 | $ 17.47 | $ 14.16 |
| Assumptions: | |||
| Risk-free interest rate | 4.50% | 4.00% | 3.30% |
| Expected term | 8 years 6 months | 8 years 6 months | 8 years 6 months |
| Expected volatility | 21.60% | 21.50% | 20.90% |
| Dividend yield | 3.80% | 2.80% | 3.10% |
Stock Plans (Information on Stock Option Activity) (Details) - USD ($) $ / shares in Units, $ in Millions |
12 Months Ended | |
|---|---|---|
May 25, 2025 |
May 26, 2024 |
|
| Options Outstanding [Abstract] | ||
| Balance Outstanding Beginning Balance | 12,044,400 | |
| Granted | 1,322,300 | |
| Exercised | (780,900) | |
| Forfeited or expired | (152,200) | |
| Ending Balance, Outstanding | 12,433,600 | 12,044,400 |
| Ending Balance, Exercisable | 8,071,600 | |
| Weighted Average Exercise Price [Abstract] | ||
| Balance Exercisable Beginning Balance | $ 59.19 | |
| Granted | 63.51 | |
| Exercised | 54.57 | |
| Forfeited or expired | 67.29 | |
| Balance Outstanding Ending Balance | 59.84 | |
| Ending Balance, Exercisable | $ 56.31 | $ 59.19 |
| Weighted Average Remaining Contractual Term [Abstract] | ||
| Ending Balance, Outstanding | 4 years 8 months 12 days | 5 years |
| Ending Balance, Exercisable | 3 years 1 month 6 days | |
| Aggregate Intrinsic Value [Abstract] | ||
| Ending Balance, Outstanding | $ 14.4 | $ 120.5 |
| Ending Balance, Exercisable | $ 14.4 | |
Stock Plans (Net Cash Proceeds and Intrinsic Value of Options Exercised) (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
May 25, 2025 |
May 26, 2024 |
May 28, 2023 |
|
| Stock Plans [Abstract] | |||
| Net cash proceeds | $ 43.0 | $ 25.5 | $ 232.3 |
| Intrinsic value of options exercised | $ 11.7 | $ 7.6 | $ 118.7 |
Stock Plans (Schedule of Compensation Expense Related to Stock-Based Payments) (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
May 25, 2025 |
May 26, 2024 |
May 28, 2023 |
|
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Windfall tax benefits from stock-based payments | $ 5.3 | $ 10.2 | $ 32.3 |
| Stock Options [Member] | |||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Compensation expense related to stock-based payments | 15.8 | 13.9 | 12.3 |
| Restricted stock units and performance [Member] | |||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Compensation expense related to stock-based payments | $ 75.9 | $ 81.4 | $ 99.4 |
Retirement Benefits and Postemployment Benefits (Health Care Cost Trend Rates) (Details) |
12 Months Ended | |
|---|---|---|
May 25, 2025 |
May 26, 2024 |
|
| Defined Benefit Plan Assumed Health Care Cost Trend Rates [Abstract] | ||
| Rate to which the cost trend rate is assumed to decline (ultimate rate) | 4.50% | 4.50% |
| Year that Rate Reaches Ultimate Trend Rate | 2034 | 2033 |
| Under Age 65 [Member] | ||
| Defined Benefit Plan Assumed Health Care Cost Trend Rates [Abstract] | ||
| Health care cost trend rate for next year | 7.90% | 7.30% |
| Over Age 65 [Member] | ||
| Defined Benefit Plan Assumed Health Care Cost Trend Rates [Abstract] | ||
| Health care cost trend rate for next year | 7.90% | 7.30% |
Retirement Benefits and Postemployment Benefits (Summarized Financial Information) (Parenthetical) (Details) |
12 Months Ended | |
|---|---|---|
May 25, 2025 |
May 26, 2024 |
|
| Retirement Benefits and Postemployment Benefits [Abstract] | ||
| Defined Benefit Plan, Plan Assets, Accounting Policy Election, Measurement Date | May 31, 2025 | May 31, 2024 |
Retirement Benefits and Postemployment Benefits (Accumulated Benefit Obligations in Excess of Plan Assets) (Details) - Defined Benefit Pension Plans [Member] - USD ($) $ in Millions |
May 25, 2025 |
May 26, 2024 |
|---|---|---|
| Defined Benefit Plan Pension Plans With Accumulated Benefit Obligations In Excess Of Plan Assets [Abstract] | ||
| Projected benefit obligation | $ 449.7 | $ 449.4 |
| Accumulated benefit obligation | 440.1 | 438.8 |
| Plan assets at fair value | $ 16.3 | $ 12.0 |
Retirement Benefits and Postemployment Benefits (Weighted-Average Assumptions1) (Details) |
May 25, 2025 |
May 26, 2024 |
|---|---|---|
| Defined Benefit Pension Plans [Member] | ||
| Defined Benefit Plan Weighted Average Assumptions Used In Calculating Benefit Obligation [Abstract] | ||
| Discount rate | 5.79% | 5.52% |
| Rate of salary increases | 3.88% | 4.23% |
| Other Postretirement Benefit Plans [Member] | ||
| Defined Benefit Plan Weighted Average Assumptions Used In Calculating Benefit Obligation [Abstract] | ||
| Discount rate | 5.67% | 5.52% |
| Rate of salary increases | 0.00% | 0.00% |
| Postemployment Benefit Plans [Member] | ||
| Defined Benefit Plan Weighted Average Assumptions Used In Calculating Benefit Obligation [Abstract] | ||
| Discount rate | 5.04% | 5.05% |
| Rate of salary increases | 4.13% | 4.46% |
Retirement Benefits and Postemployment Benefits (Estimated Benefit Payments) (Details) $ in Millions |
May 25, 2025
USD ($)
|
|---|---|
| Defined Benefit Pension Plans [Member] | |
| Defined Benefit Plan Estimated Future Benefit Payments [Abstract] | |
| Fiscal 2026 | $ 360.9 |
| Fiscal 2027 | 367.0 |
| Fiscal 2028 | 372.7 |
| Fiscal 2029 | 378.1 |
| Fiscal 2030 | 382.9 |
| Fiscal 2031-2035 | 1,965.2 |
| Other Postretirement Benefit Plans [Member] | |
| Defined Benefit Plan Estimated Future Benefit Payments [Abstract] | |
| Fiscal 2026 | 30.9 |
| Fiscal 2027 | 28.6 |
| Fiscal 2028 | 28.0 |
| Fiscal 2029 | 27.4 |
| Fiscal 2030 | 26.7 |
| Fiscal 2031-2035 | 121.2 |
| Postemployment Benefit Plans [Member] | |
| Defined Benefit Plan Estimated Future Benefit Payments [Abstract] | |
| Fiscal 2026 | 22.8 |
| Fiscal 2027 | 19.2 |
| Fiscal 2028 | 17.6 |
| Fiscal 2029 | 15.5 |
| Fiscal 2030 | 13.9 |
| Fiscal 2031-2035 | $ 56.9 |
Income Taxes (Narrative) (Details) - USD ($) |
12 Months Ended | |
|---|---|---|
May 25, 2025 |
May 26, 2024 |
|
| Tax Credit Carryforward [Line Items] | ||
| Unremitted foreign earnings | $ 2,300,000,000 | |
| Unrecognized tax benefits that would affect effective tax rate | 98,200,000 | |
| Unrecognized tax benefits and accrued interest expected to be paid within the next 12 months | 0 | |
| Tax-related net interest and penalties benefits recognized | 2,700,000 | $ (6,100,000) |
| Tax-related net interest and penalties accrued | 27,000,000.0 | $ 24,200,000 |
| Deferred tax liability not recognized for unremitted earnings of foreign subsidiaries | $ 0 | |
| Internal Revenue Service (IRS) [Member] | ||
| Tax Credit Carryforward [Line Items] | ||
| Income Tax Examination, Year under Examination | 2018 2019 2020 2021 2022 | |
| Minimum [Member] | ||
| Tax Credit Carryforward [Line Items] | ||
| Number of open tax years for certain U.S. tax jurisdictions | 3 years | |
| Maximum [Member] | ||
| Tax Credit Carryforward [Line Items] | ||
| Number of open tax years for certain U.S. tax jurisdictions | 5 years | |
Income Taxes (Components of Earnings Before Income Taxes and After-Tax Earnings from Joint Ventures and Corresponding Income Taxes Thereon) (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
May 25, 2025 |
May 26, 2024 |
May 28, 2023 |
|
| Earnings before income taxes and after-tax earnings from joint ventures: | |||
| United States | $ 2,493.2 | $ 2,907.0 | $ 2,740.5 |
| Foreign | 341.8 | 121.3 | 400.0 |
| Earnings before income taxes and after-tax earnings from joint ventures | 2,835.0 | 3,028.3 | 3,140.5 |
| Income taxes currently payable: | |||
| Federal | 549.0 | 512.8 | 487.1 |
| State and local | 80.1 | 72.0 | 82.2 |
| Foreign | 65.5 | 58.2 | 65.1 |
| Total current | 694.6 | 643.0 | 634.4 |
| Income taxes deferred: | |||
| Federal | (62.6) | 27.4 | 9.6 |
| State and local | (3.3) | 9.7 | (8.1) |
| Foreign | (55.0) | (85.6) | (23.7) |
| Total deferred | (120.9) | (48.5) | (22.2) |
| Total income taxes | $ 573.7 | $ 594.5 | $ 612.2 |
Income Taxes (Schedule of Effective Income Tax Rate Reconciliation) (Details) |
12 Months Ended | ||
|---|---|---|---|
May 25, 2025 |
May 26, 2024 |
May 28, 2023 |
|
| Effective Income Tax Rate Reconciliation [Abstract] | |||
| United States statutory rate | 21.00% | 21.00% | 21.00% |
| State and local income taxes, net of federal tax benefits | 2.10% | 2.10% | 1.50% |
| Foreign rate differences | (1.70%) | (1.60%) | (1.00%) |
| Research and development tax credit | (1.50%) | (1.20%) | 0.00% |
| Stock based compensation | (0.20%) | (0.30%) | (1.00%) |
| Divestitures, net | (0.30%) | 0.00% | (0.80%) |
| Other, net | 0.80% | (0.40%) | (0.20%) |
| Effective income tax rate | 20.20% | 19.60% | 19.50% |
Income Taxes (Schedule of Changes in Total Gross Unrecognized Tax Benefit Liabilities, Excluding Accrued Interest) (Details) - USD ($) $ in Millions |
12 Months Ended | |
|---|---|---|
May 25, 2025 |
May 26, 2024 |
|
| Changes in total gross unrecognized tax benefit liabilities [Roll Forward] | ||
| Balance, beginning of year | $ 149.0 | $ 181.2 |
| Tax positions related to current year: Additions | 48.7 | 24.6 |
| Tax positions related to prior years: Additions | 13.0 | 6.3 |
| Tax positions related to prior years: Reductions | (2.8) | (55.2) |
| Tax positions related to prior years: Settlements | (2.6) | (0.8) |
| Lapses in statutes of limitations | (6.3) | (7.1) |
| Balance, end of year | $ 199.0 | $ 149.0 |
Commitments and Contingencies (Narrative) (Details) $ in Millions |
May 25, 2025
USD ($)
|
|---|---|
| Financial Guarantee [Member] | Non-consolidated Affiliates [Member] | |
| Guarantor Obligations [Line Items] | |
| Guarantee obligations and comfort letters | $ 163.5 |
Business Segment and Geographic Information (Net Sales by Class of Similar Products) (Details) - USD ($) $ in Millions |
3 Months Ended | 12 Months Ended | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
May 25, 2025 |
Feb. 23, 2025 |
Nov. 24, 2024 |
Aug. 25, 2024 |
May 26, 2024 |
Feb. 25, 2024 |
Nov. 26, 2023 |
Aug. 27, 2023 |
May 25, 2025 |
May 26, 2024 |
May 28, 2023 |
|
| Product Information [Line Items] | |||||||||||
| Net sales | $ 4,556.2 | $ 4,842.2 | $ 5,240.1 | $ 4,848.1 | $ 4,713.9 | $ 5,099.2 | $ 5,139.4 | $ 4,904.7 | $ 19,486.6 | $ 19,857.2 | $ 20,094.2 |
| Snacks [Member] | |||||||||||
| Product Information [Line Items] | |||||||||||
| Net sales | 4,187.4 | 4,327.3 | 4,431.5 | ||||||||
| Convenient meals [Member] | |||||||||||
| Product Information [Line Items] | |||||||||||
| Net sales | 2,816.1 | 2,906.5 | 2,961.6 | ||||||||
| Cereal [Member] | |||||||||||
| Product Information [Line Items] | |||||||||||
| Net sales | 3,078.6 | 3,187.5 | 3,209.5 | ||||||||
| Yogurt [Member] | |||||||||||
| Product Information [Line Items] | |||||||||||
| Net sales | 1,391.6 | 1,482.5 | 1,472.9 | ||||||||
| Pet [Member] | |||||||||||
| Product Information [Line Items] | |||||||||||
| Net sales | 2,585.8 | 2,382.7 | 2,476.0 | ||||||||
| Dough [Member] | |||||||||||
| Product Information [Line Items] | |||||||||||
| Net sales | 2,384.2 | 2,423.6 | 2,390.5 | ||||||||
| Baking mixes and ingredients [Member] | |||||||||||
| Product Information [Line Items] | |||||||||||
| Net sales | 1,940.2 | 1,996.0 | 2,037.3 | ||||||||
| Super-premium ice cream [Member] | |||||||||||
| Product Information [Line Items] | |||||||||||
| Net sales | 721.6 | 728.7 | 703.7 | ||||||||
| Other [Member] | |||||||||||
| Product Information [Line Items] | |||||||||||
| Net sales | $ 381.1 | $ 422.4 | $ 411.2 | ||||||||
Business Segment and Geographic Information (Financial Information by Geographic Area) (Details) - USD ($) $ in Millions |
3 Months Ended | 12 Months Ended | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
May 25, 2025 |
Feb. 23, 2025 |
Nov. 24, 2024 |
Aug. 25, 2024 |
May 26, 2024 |
Feb. 25, 2024 |
Nov. 26, 2023 |
Aug. 27, 2023 |
May 25, 2025 |
May 26, 2024 |
May 28, 2023 |
|
| Segment Reporting Information [Line Items] | |||||||||||
| Net sales | $ 4,556.2 | $ 4,842.2 | $ 5,240.1 | $ 4,848.1 | $ 4,713.9 | $ 5,099.2 | $ 5,139.4 | $ 4,904.7 | $ 19,486.6 | $ 19,857.2 | $ 20,094.2 |
| Cash and cash equivalents | 363.9 | 418.0 | 363.9 | 418.0 | |||||||
| Land, buildings, and equipment | 3,632.6 | 3,863.9 | 3,632.6 | 3,863.9 | |||||||
| United States [Member] | |||||||||||
| Segment Reporting Information [Line Items] | |||||||||||
| Net sales | 15,780.4 | 16,062.2 | 16,322.2 | ||||||||
| Cash and cash equivalents | 47.8 | 87.8 | 47.8 | 87.8 | |||||||
| Land, buildings, and equipment | 3,036.6 | 3,155.3 | 3,036.6 | 3,155.3 | |||||||
| Non-United States [Member] | |||||||||||
| Segment Reporting Information [Line Items] | |||||||||||
| Net sales | 3,706.2 | 3,795.0 | $ 3,772.0 | ||||||||
| Cash and cash equivalents | 316.1 | 330.2 | 316.1 | 330.2 | |||||||
| Land, buildings, and equipment | $ 596.0 | $ 708.6 | $ 596.0 | $ 708.6 | |||||||
Supplemental Information (Schedule of Consolidated Statements of Earnings Amounts) (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
May 25, 2025 |
May 26, 2024 |
May 28, 2023 |
|
| Supplemental Information [Abstract] | |||
| Depreciation and amortization | $ 539.0 | $ 552.7 | $ 546.6 |
| Research and development expense | 256.6 | 257.8 | 257.6 |
| Advertising and media expense (including production and communication costs) | $ 847.5 | $ 824.6 | $ 810.0 |
Supplemental Information (Schedule Components of Interest, Net) (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
May 25, 2025 |
May 26, 2024 |
May 28, 2023 |
|
| Supplemental Information [Abstract] | |||
| Interest expense | $ 559.6 | $ 509.4 | $ 400.5 |
| Capitalized interest | (10.8) | (11.4) | (4.4) |
| Interest income | (24.6) | (18.8) | (14.0) |
| Interest, net | $ 524.2 | $ 479.2 | $ 382.1 |
Supplemental Information (Schedule of Consolidated Statements of Cash Flows Supplemental Disclosures) (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
May 25, 2025 |
May 26, 2024 |
May 28, 2023 |
|
| Supplemental Information [Abstract] | |||
| Cash interest payments | $ 474.4 | $ 464.4 | $ 337.1 |
| Cash paid for income taxes | $ 599.2 | $ 660.5 | $ 682.6 |
Quarterly Data (Schedule of Quarterly Financial Information) (Details) - USD ($) $ / shares in Units, $ in Millions |
3 Months Ended | 12 Months Ended | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
May 25, 2025 |
Feb. 23, 2025 |
Nov. 24, 2024 |
Aug. 25, 2024 |
May 26, 2024 |
Feb. 25, 2024 |
Nov. 26, 2023 |
Aug. 27, 2023 |
May 25, 2025 |
May 26, 2024 |
May 28, 2023 |
|
| Quarterly Data (Unaudited) [Abstract] | |||||||||||
| Net sales | $ 4,556.2 | $ 4,842.2 | $ 5,240.1 | $ 4,848.1 | $ 4,713.9 | $ 5,099.2 | $ 5,139.4 | $ 4,904.7 | $ 19,486.6 | $ 19,857.2 | $ 20,094.2 |
| Gross margin | 1,474.0 | 1,639.1 | 1,931.1 | 1,688.8 | 1,688.3 | 1,707.4 | 1,765.9 | 1,770.5 | |||
| Net earnings attributable to General Mills as reported | $ 294.0 | $ 625.6 | $ 795.7 | $ 579.9 | $ 557.5 | $ 670.1 | $ 595.5 | $ 673.5 | $ 2,295.2 | $ 2,496.6 | $ 2,593.9 |
| Earnings per share - basic | $ 0.53 | $ 1.14 | $ 1.43 | $ 1.03 | $ 0.98 | $ 1.18 | $ 1.03 | $ 1.15 | $ 4.12 | $ 4.34 | $ 4.36 |
| Earnings per share - diluted | $ 0.53 | $ 1.12 | $ 1.42 | $ 1.03 | $ 0.98 | $ 1.17 | $ 1.02 | $ 1.14 | $ 4.10 | $ 4.31 | $ 4.31 |