GENERAL MILLS INC, 10-Q filed on 3/18/2026
Quarterly Report
v3.26.1
Cover Page - shares
 9 Months Ended
Feb. 22, 2026
Mar. 11, 2026
Entity Listings [Line Items]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Feb. 22, 2026  
Document Transition Report false  
Entity File Number 001-01185  
Entity Registrant Name GENERAL MILLS, INC.  
Entity Incorporation, State or Country Code DE  
Entity Tax Identification Number 41-0274440  
Entity Address, Address Line One Number One General Mills Boulevard  
Entity Address, City or Town Minneapolis  
Entity Address, State or Province MN  
Entity Address, Postal Zip Code 55426  
City Area Code 763  
Local Phone Number 764-7600  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   533,681,218
Current Fiscal Year End Date --05-31  
Document Fiscal Year Focus 2026  
Document Fiscal Period Focus Q3  
Amendment Flag false  
Entity Central Index Key 0000040704  
Common Stock    
Entity Listings [Line Items]    
Title of 12(b) Security Common Stock, $.10 par value  
Trading Symbol GIS  
Security Exchange Name NYSE  
1.500% Notes due 2027    
Entity Listings [Line Items]    
Title of 12(b) Security 1.500% Notes due 2027  
Trading Symbol GIS 27  
Security Exchange Name NYSE  
3.907% Notes due 2029    
Entity Listings [Line Items]    
Title of 12(b) Security 3.907% Notes due 2029  
Trading Symbol GIS 29  
Security Exchange Name NYSE  
3.650% Notes due 2030    
Entity Listings [Line Items]    
Title of 12(b) Security 3.650% Notes due 2030  
Trading Symbol GIS 30A  
Security Exchange Name NYSE  
3.600% Notes due 2032    
Entity Listings [Line Items]    
Title of 12(b) Security 3.600% Notes due 2032  
Trading Symbol GIS 32  
Security Exchange Name NYSE  
3.850% Notes due 2034    
Entity Listings [Line Items]    
Title of 12(b) Security 3.850% Notes due 2034  
Trading Symbol GIS 34  
Security Exchange Name NYSE  
v3.26.1
Consolidated Statements of Earnings - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Feb. 22, 2026
Feb. 23, 2025
Feb. 22, 2026
Feb. 23, 2025
Income Statement [Abstract]        
Net sales $ 4,436.7 $ 4,842.2 $ 13,815.0 $ 14,930.4
Cost of sales 3,069.8 3,203.1 9,222.8 9,671.4
Selling, general, and administrative expenses 812.9 844.4 2,500.4 2,551.5
Divestitures loss (gain), net 5.0 (95.9) (1,049.4) (95.9)
Restructuring, transformation, impairment, and other exit costs (recoveries) 24.4 (0.8) 162.8 2.6
Operating profit 524.6 891.4 2,978.4 2,800.8
Benefit plan non-service income (15.3) (13.9) (46.1) (41.6)
Interest, net 128.4 136.3 387.1 384.5
Earnings before income taxes and after-tax (loss) earnings from joint ventures 411.5 769.0 2,637.4 2,457.9
Income taxes 99.9 152.4 654.7 504.6
After-tax (loss) earnings from joint ventures (6.1) 14.4 (58.9) 63.6
Net earnings, including earnings attributable to noncontrolling interests 305.5 631.0 1,923.8 2,016.9
Net earnings attributable to noncontrolling interests 2.4 5.4 3.5 15.7
Net earnings attributable to General Mills $ 303.1 $ 625.6 $ 1,920.3 $ 2,001.2
Earnings per share – basic (usd per share) $ 0.57 $ 1.14 $ 3.57 $ 3.60
Earnings per share – diluted (usd per share) $ 0.56 $ 1.12 $ 3.56 $ 3.57
v3.26.1
Consolidated Statements of Comprehensive Income - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Feb. 22, 2026
Feb. 23, 2025
Feb. 22, 2026
Feb. 23, 2025
Statement of Comprehensive Income [Abstract]        
Net earnings, including earnings attributable to noncontrolling interests $ 305.5 $ 631.0 $ 1,923.8 $ 2,016.9
Other comprehensive income (loss), net of tax:        
Foreign currency translation 12.3 6.2 (40.0) (26.9)
Net actuarial gain (loss) 3.8 0.0 (3.7) 0.0
Other fair value changes:        
Hedge derivatives (1.5) 1.1 6.6 4.3
Reclassification to earnings:        
Foreign currency translation 0.0 33.9 0.0 33.9
Hedge derivatives 2.3 (3.0) (1.6) (1.3)
Amortization of losses and prior service costs 11.4 11.2 39.8 34.5
Other comprehensive income, net of tax 28.3 49.4 1.1 44.5
Total comprehensive income 333.8 680.4 1,924.9 2,061.4
Comprehensive income attributable to noncontrolling interests 2.7 5.4 3.8 14.9
Comprehensive income attributable to General Mills $ 331.1 $ 675.0 $ 1,921.1 $ 2,046.5
v3.26.1
Consolidated Balance Sheets - USD ($)
$ in Millions
Feb. 22, 2026
May 25, 2025
Current assets:    
Cash and cash equivalents $ 785.5 $ 363.9
Receivables 1,857.1 1,795.9
Inventories 1,755.7 1,910.8
Prepaid expenses and other current assets 490.3 464.7
Assets held for sale 0.0 740.4
Total current assets 4,888.6 5,275.7
Land, buildings, and equipment 3,492.1 3,632.6
Goodwill 15,634.4 15,622.4
Other intangible assets 7,030.1 7,081.4
Other assets 1,357.9 1,459.0
Total assets 32,403.1 33,071.1
Current liabilities:    
Accounts payable 3,634.4 4,009.5
Current portion of long-term debt 2,138.3 1,528.4
Notes payable 837.3 677.0
Other current liabilities 2,075.3 1,624.0
Liabilities held for sale 0.0 18.4
Total current liabilities 8,685.3 7,857.3
Long-term debt 10,992.1 12,673.2
Deferred income taxes 2,129.7 2,100.8
Other liabilities 1,239.0 1,228.6
Total liabilities 23,046.1 23,859.9
Stockholders’ equity:    
Common stock, 754.6 shares issued, $0.10 par value 75.5 75.5
Additional paid-in capital 1,188.6 1,218.8
Retained earnings 22,525.4 21,917.8
Common stock in treasury, at cost, shares of 220.9 and 212.2 (11,902.0) (11,467.9)
Accumulated other comprehensive loss (2,544.2) (2,545.0)
Total stockholders’ equity 9,343.3 9,199.2
Noncontrolling interests 13.7 12.0
Total equity 9,357.0 9,211.2
Total liabilities and equity $ 32,403.1 $ 33,071.1
v3.26.1
Consolidated Balance Sheets (Parenthetical) - $ / shares
shares in Millions
Feb. 22, 2026
May 25, 2025
Feb. 23, 2025
Stockholders’ equity:      
Common stock, shares, issued (in shares) 754.6 754.6  
Common stock, par value per share (in usd per share) $ 0.10 $ 0.10 $ 0.10
Common stock in treasury, at cost (in shares) 220.9 212.2  
v3.26.1
Consolidated Statements of Total Equity - USD ($)
$ in Millions
Total
Common Stock
Additional Paid-in Capital
Retained Earnings
Common Stock in Treasury
Accumulated other comprehensive loss
Noncontrolling Interests
Common stock (in shares)   754,600,000          
Beginning balance, treasury stock, shares (in shares) at May. 26, 2024         (195,500,000)    
Shares              
Shares purchased, including excise tax (in shares) (13,500,000)       (13,500,000)    
Stock compensation plans (in shares)         1,900,000    
Ending balance, treasury stock, shares (in shares) at Feb. 23, 2025         (207,100,000)    
Total equity, beginning balance at May. 26, 2024 $ 9,648.5 $ 75.5 $ 1,227.0 $ 20,971.8 $ (10,357.9) $ (2,519.7) $ 251.8
Amount              
Stock compensation plans     (18.9)   98.7    
Unearned compensation related to stock unit awards     (79.4)        
Earned compensation     66.2        
Net earnings attributable to General Mills 2,001.2     2,001.2      
Cash dividends declared       (1,337.0)      
Shares purchased, including excise tax (909.6)       (909.6)    
Comprehensive income 2,061.4         45.3 14.9
Distributions to noncontrolling interest holders             (17.3)
Total equity, ending balance at Feb. 23, 2025 $ 9,512.6 $ 75.5 1,194.9 21,636.0 $ (11,168.8) (2,474.4) 249.4
Common stock (in shares)   754,600,000          
Beginning balance, treasury stock, shares (in shares) at Nov. 24, 2024         (202,400,000)    
Shares              
Shares purchased, including excise tax (in shares) (4,800,000)       (4,800,000)    
Stock compensation plans (in shares)         100,000    
Ending balance, treasury stock, shares (in shares) at Feb. 23, 2025         (207,100,000)    
Total equity, beginning balance at Nov. 24, 2024 $ 9,449.2 $ 75.5 1,182.0 21,340.3 $ (10,873.3) (2,523.8) 248.5
Amount              
Stock compensation plans     (9.6)   8.9    
Unearned compensation related to stock unit awards     2.3        
Earned compensation     20.2        
Net earnings attributable to General Mills 625.6     625.6      
Cash dividends declared       (329.9)      
Shares purchased, including excise tax (304.4)       (304.4)    
Comprehensive income 680.4         49.4 5.4
Distributions to noncontrolling interest holders             (4.5)
Total equity, ending balance at Feb. 23, 2025 $ 9,512.6 $ 75.5 1,194.9 21,636.0 $ (11,168.8) (2,474.4) 249.4
Common stock (in shares)   754,600,000          
Common stock (in shares) 754,600,000 754,600,000          
Beginning balance, treasury stock, shares (in shares) at May. 25, 2025 (212,200,000)       (212,200,000)    
Shares              
Shares purchased, including excise tax (in shares) (10,000,000.0)       (10,000,000.0)    
Stock compensation plans (in shares)         1,300,000    
Ending balance, treasury stock, shares (in shares) at Feb. 22, 2026 (220,900,000)       (220,900,000)    
Total equity, beginning balance at May. 25, 2025 $ 9,211.2 $ 75.5 1,218.8 21,917.8 $ (11,467.9) (2,545.0) 12.0
Amount              
Stock compensation plans     (20.1)   70.6    
Unearned compensation related to stock unit awards     (75.0)        
Earned compensation     64.9        
Net earnings attributable to General Mills 1,920.3     1,920.3      
Cash dividends declared       (1,312.7)      
Shares purchased, including excise tax (504.7)       (504.7)    
Comprehensive income 1,924.9         0.8 3.8
Distributions to noncontrolling interest holders             (2.1)
Total equity, ending balance at Feb. 22, 2026 $ 9,357.0 $ 75.5 1,188.6 22,525.4 $ (11,902.0) (2,544.2) 13.7
Common stock (in shares)   754,600,000          
Beginning balance, treasury stock, shares (in shares) at Nov. 23, 2025         (221,000,000.0)    
Shares              
Shares purchased, including excise tax (in shares) 0            
Stock compensation plans (in shares)         100,000    
Ending balance, treasury stock, shares (in shares) at Feb. 22, 2026 (220,900,000)       (220,900,000)    
Total equity, beginning balance at Nov. 23, 2025 $ 9,328.8 $ 75.5 1,170.9 22,550.8 $ (11,908.6) (2,572.2) 12.4
Amount              
Stock compensation plans     (0.3)   6.8    
Unearned compensation related to stock unit awards     (8.1)        
Earned compensation     26.1        
Net earnings attributable to General Mills 303.1     303.1      
Cash dividends declared       (328.5)      
Shares purchased, including excise tax (0.2)       (0.2)    
Comprehensive income 333.8         28.0 2.7
Distributions to noncontrolling interest holders             (1.4)
Total equity, ending balance at Feb. 22, 2026 $ 9,357.0 $ 75.5 $ 1,188.6 $ 22,525.4 $ (11,902.0) $ (2,544.2) $ 13.7
Common stock (in shares) 754,600,000 754,600,000          
v3.26.1
Consolidated Statements of Total Equity (Parenthetical) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Feb. 22, 2026
Feb. 23, 2025
Feb. 22, 2026
Feb. 23, 2025
Statement of Stockholders' Equity [Abstract]        
Common stock, shares authorized (in shares) 1,000,000,000 1,000,000,000 1,000,000,000 1,000,000,000
Common stock, par value per share (in usd per share) $ 0.10 $ 0.10 $ 0.10 $ 0.10
Common stock, dividends, per share, declared (in usd per share) $ 0.61 $ 0.60 $ 2.44 $ 2.40
Shares purchased, excise tax $ 0.0 $ 2.9 $ 4.4 $ 7.7
v3.26.1
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 9 Months Ended
Feb. 22, 2026
Feb. 23, 2025
Cash Flows - Operating Activities    
Net earnings, including earnings attributable to noncontrolling interests $ 1,923.8 $ 2,016.9
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation and amortization 416.1 403.4
After-tax loss (earnings) from joint ventures 58.9 (63.6)
Distributions of earnings from joint ventures 32.9 30.9
Stock-based compensation 65.6 67.1
Deferred income taxes 139.4 (13.5)
Pension and other postretirement benefit plan contributions (21.3) (23.0)
Pension and other postretirement benefit plan costs (20.4) (9.9)
Divestitures gain, net (1,049.4) (95.9)
Restructuring, transformation, impairment, and other exit costs (recoveries) 109.1 (3.4)
Changes in current assets and liabilities, excluding the effects of the acquisition and divestitures (129.4) 55.8
Other, net 88.9 (58.2)
Net cash provided by operating activities 1,614.2 2,306.6
Cash Flows - Investing Activities    
Purchases of land, buildings, and equipment (355.5) (405.1)
Acquisition, net of cash acquired 0.0 (1,417.3)
Proceeds from divestitures 1,830.2 241.8
Investments in affiliates, net (40.6) 6.6
Proceeds from disposal of land, buildings, and equipment 5.2 1.0
Other, net (6.4) (5.6)
Net cash provided (used) by investing activities 1,432.9 (1,578.6)
Cash Flows - Financing Activities    
Change in notes payable 160.9 397.0
Issuance of long-term debt 0.0 1,500.0
Payment of long-term debt (1,279.7) (500.0)
Proceeds from common stock issued on exercised options 0.4 38.4
Purchases of common stock for treasury (500.3) (901.9)
Dividends paid (987.2) (1,008.4)
Distributions to noncontrolling interest holders (2.1) (17.3)
Other, net (36.4) (117.5)
Net cash used by financing activities (2,644.4) (609.7)
Effect of exchange rate changes on cash and cash equivalents 18.9 (15.0)
Increase in cash and cash equivalents 421.6 103.3
Cash and cash equivalents - beginning of year 363.9 418.0
Cash and cash equivalents - end of period 785.5 521.3
Cash Flows from changes in current assets and liabilities, excluding the effects of the acquisition and divestitures:    
Receivables (43.3) (95.7)
Inventories 140.6 59.5
Prepaid expenses and other current assets (21.2) 139.6
Accounts payable (350.4) (136.7)
Other current liabilities 144.9 89.1
Changes in current assets and liabilities $ (129.4) $ 55.8
v3.26.1
Background
 9 Months Ended
Feb. 22, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Background Background
The accompanying Consolidated Financial Statements of General Mills, Inc. (we, us, our, General Mills, or the Company) have been
prepared in accordance with accounting principles generally accepted in the United States (GAAP) for interim financial information
and with the rules and regulations for reporting on Form 10-Q. Accordingly, they do not include certain information and disclosures
required for comprehensive financial statements. In the opinion of management, all adjustments considered necessary for a fair
presentation have been included and are of a normal recurring nature, including the elimination of all intercompany transactions.
Operating results for the fiscal quarter ended February 22, 2026, are not necessarily indicative of the results that may be expected for
the fiscal year ending May 31, 2026.
These statements should be read in conjunction with the Consolidated Financial Statements and footnotes included in our Annual
Report on Form 10-K for the fiscal year ended May 25, 2025. The accounting policies used in preparing these Consolidated Financial
Statements are the same as those described in Note 2 to the Consolidated Financial Statements in that Form 10-K.
Certain reclassifications to our previously reported financial information have been made to conform to the current period
presentation.
Certain terms used throughout this report are defined in the “Glossary” section below.
v3.26.1
Acquisition and Divestitures
 9 Months Ended
Feb. 22, 2026
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Acquisition and Divestitures Acquisition and Divestitures
During the first quarter of fiscal 2026, we completed the sale of our United States yogurt business to Groupe Lactalis S.A. and
recorded a pre-tax gain of $1,046.5 million.
During the third quarter of fiscal 2025, we completed the sale of our Canada yogurt business to Sodiaal International and recorded a
pre-tax gain of $95.9 million. In the first quarter of fiscal 2026, we recorded a sale price adjustment that resulted in a $7.9 million
increase to the pre-tax gain.
During the third quarter of fiscal 2025, we acquired NX Pet Holding, Inc., representing Whitebridge Pet Brands’ North American
premium cat feeding and pet treating business, for a purchase price of $1.4 billion (Whitebridge Pet Brands acquisition). We financed
the transaction with cash on hand and new debt. We consolidated Whitebridge Pet Brands into our Consolidated Balance Sheets and
recorded goodwill of $1,086.7 million, an indefinite-lived intangible asset for the Tiki Pets brand totaling $289.0 million, and a finite-
lived customer relationship asset of $31.0 million. The goodwill is included in the North America Pet segment and is not deductible
for tax purposes. The pro forma effects of this acquisition were not material. The consolidated results are reported in our North
America Pet operating segment on a one-month lag. In fiscal 2026, we recorded a $31.9 million decrease to goodwill, primarily related
to adjustments to certain purchase accounting liabilities upon finalization of income tax returns recorded in the second quarter of fiscal
2026.
On March 16, 2026, subsequent to the end of the third quarter of fiscal 2026, we entered into a definitive agreement to sell our
business in Brazil to Café Três Corações S.A. (3corações) for a base purchase price of R$800.0 million, subject to certain specified
deductions and customary post-closing adjustments. The sale is anticipated to close by the end of calendar 2026, subject to regulatory
approvals and other customary closing conditions. We expect to record a pre-tax loss on the sale, which will include the recognition of
accumulated foreign currency translation losses that totaled $622.1 million as of February 22, 2026. Additionally, as of February 22,
2026, we have $238.3 million of net deferred tax assets held in Brazil.
v3.26.1
Restructuring, Transformation, Impairment, and Other Exit Costs
 9 Months Ended
Feb. 22, 2026
Restructuring and Related Activities [Abstract]  
Restructuring, Transformation, Impairment, and Other Exit Costs Restructuring, Transformation, Impairment, and Other Exit Costs
Restructuring, transformation, and impairment charges (recoveries) were as follows:
Quarter Ended
Nine-Month Period Ended
In Millions
Feb. 22, 2026
Feb. 23, 2025
Feb. 22, 2026
Feb. 23, 2025
Supply chain actions
$25.1
$—
$75.4
$—
Other intangible asset impairment
—
—
52.9
—
Charges (recoveries) associated with restructuring and
  transformation actions previously announced
7.7
(0.6)
47.9
3.6
Total
$32.8
$(0.6)
$176.2
$3.6
In the third quarter of fiscal 2026, we did not undertake any new restructuring or transformation actions. We recorded $25.1 million of
restructuring charges in the third quarter of fiscal 2026 and $75.4 million of restructuring charges in the nine-month period ended
February 22, 2026, related to the multi-year organizational initiative to increase the competitiveness of our supply chain approved in
the second quarter of fiscal 2026. In the third quarter of fiscal 2026, we increased the estimate of restructuring charges that we expect
to incur related to these supply chain actions due to the identification of additional opportunities. As a result, we expect to incur a total
of approximately $96 million of restructuring charges for this initiative, of which approximately $28 million will be cash. These
charges are expected to consist of approximately $66 million of asset write-offs and $30 million of other costs, including severance.
We expect these actions to be completed by the end of fiscal 2029.
We recorded $7.7 million of restructuring and transformation charges in the third quarter of fiscal 2026 and $47.9 million of
restructuring and transformation charges in the nine-month period ended February 22, 2026, related to actions previously announced.
We recorded a $0.6 million net recovery of restructuring charges in the third quarter of fiscal 2025 and $3.6 million of restructuring
charges in the nine-month period ended February 23, 2025, related to restructuring actions previously announced. We expect these
actions to be completed by the end of fiscal 2028.
We paid net $67.1 million of cash in the nine-month period ended February 22, 2026, related to restructuring and transformation
actions. We paid net $7.0 million of cash in the same period of fiscal 2025.
In the second quarter of fiscal 2026, we recorded a $52.9 million non-cash impairment charge related to our Uncle Toby’s brand
intangible asset. Please see Note 4 for additional information.
Restructuring, transformation, and impairment charges (recoveries) are recorded in our Consolidated Statements of Earnings as
follows:
Quarter Ended
Nine-Month Period Ended
In Millions
Feb. 22, 2026
Feb. 23, 2025
Feb. 22, 2026
Feb. 23, 2025
Restructuring, transformation, impairment, and other exit
  costs (recoveries)
$24.4
$(0.8)
$162.8
$2.6
Cost of sales
8.4
0.2
13.4
1.0
Total restructuring, transformation, and impairment
  charges (recoveries)
$32.8
$(0.6)
$176.2
$3.6
The roll forward of our restructuring, transformation, and other exit cost reserves, included in other current liabilities, is as follows:
In Millions
Total
Reserve balance as of May 25, 2025
$77.1
Fiscal 2026 charges, including foreign currency translation
4.7
Utilized in fiscal 2026
(28.8)
Reserve balance as of Feb. 22, 2026
$53.0
The restructuring, transformation, and other exit cost reserves balance as of February 22, 2026, is primarily related to severance costs.
The charges recognized in the roll forward of our reserves for restructuring, transformation, and other exit costs do not include items
charged directly to expense (e.g., asset write-offs, asset impairment charges, and the gain or loss on the sale of restructured assets) and
other periodic exit costs recognized as incurred, as those items are not reflected in our restructuring, transformation, and other exit cost
reserves on our Consolidated Balance Sheets.
v3.26.1
Goodwill and Other Intangible Assets
 9 Months Ended
Feb. 22, 2026
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets Goodwill and Other Intangible Assets
The components of goodwill and other intangible assets are as follows:
In Millions
Feb. 22, 2026
May 25, 2025
Goodwill
$15,634.4
$15,622.4
Other intangible assets:
Intangible assets not subject to amortization:
Brands
6,780.2
6,816.7
Intangible assets subject to amortization:
Customer relationships and other finite-lived intangibles
421.3
420.9
Less accumulated amortization
(171.4)
(156.2)
Intangible assets subject to amortization, net
249.9
264.7
Other intangible assets
7,030.1
7,081.4
Total
$22,664.5
$22,703.8
Based on the carrying value of finite-lived intangible assets as of February 22, 2026, annual amortization expense for each of the next
five fiscal years is estimated to be approximately $20 million.
The changes in the carrying amount of goodwill during the nine-month period ended February 22, 2026, were as follows:
In Millions
North
America
Retail
North
America
Pet
North
America
Foodservice
International
(a)
Corporate
and Joint
Ventures
Total
Balance as of May 25, 2025
$6,323.5
$7,149.5
$755.5
$951.7
$442.2
$15,622.4
Divestiture
(4.7)
—
(0.2)
—
—
(4.9)
Purchase accounting adjustments
—
(31.9)
—
—
—
(31.9)
Other activity, primarily
  foreign currency translation
0.3
—
—
33.1
15.4
48.8
Balance as of Feb. 22, 2026
$6,319.1
$7,117.6
$755.3
$984.8
$457.6
$15,634.4
(a)The carrying amounts of goodwill within the International segment as of May 25, 2025, and February 22, 2026, were net of
accumulated impairment losses of $117.1 million. For additional information, see Note 6 to the Consolidated Financial Statements
included in our Annual Report on Form 10-K for the fiscal year ended May 25, 2025.
The changes in the carrying amount of other intangible assets during the nine-month period ended February 22, 2026, were as follows:
In Millions
Total
Balance as of May 25, 2025
$7,081.4
Impairment charge
(52.9)
Other activity, primarily foreign currency translation and amortization
1.6
Balance as of Feb. 22, 2026
$7,030.1
Our annual goodwill and indefinite-lived intangible assets impairment test was performed on the first day of the second quarter of
fiscal 2026. As a result of lower future sales and profitability projections for the business supporting our Uncle Toby’s brand
intangible asset, we determined that the fair value of the brand intangible asset no longer exceeded its carrying value and recorded a
$52.9 million non-cash impairment charge. We recorded the impairment charge in restructuring, transformation, impairment, and other
exit costs in our Consolidated Statements of Earnings. Our estimate of the fair value was determined based on a discounted cash flow
model using inputs which included our long-range cash flow projections for the business, the royalty rate, the weighted-average cost
of capital rate, and the tax rate. The fair value is a Level 3 asset in the fair value hierarchy.
All other intangible asset fair values were substantially in excess of the carrying values. In addition, while having significant coverage
as of our fiscal 2026 assessment date, the Progresso, Nudges, True Chews, and Kitano brand intangible assets had risk of decreasing
coverage. We will continue to monitor these businesses for potential impairment.
v3.26.1
Inventories
 9 Months Ended
Feb. 22, 2026
Inventory Disclosure [Abstract]  
Inventories Inventories
The components of inventories were as follows:
In Millions
Feb. 22, 2026
May 25, 2025
Finished goods
$1,755.7
$1,883.9
Raw materials and packaging
493.9
460.0
Grain
107.2
112.5
Excess of FIFO over LIFO cost
(601.1)
$(545.6)
Total
$1,755.7
$1,910.8
v3.26.1
Risk Management Activities
 9 Months Ended
Feb. 22, 2026
Investments, All Other Investments [Abstract]  
Risk Management Activities Risk Management Activities
Many commodities we use in the production and distribution of our products are exposed to market price risks. We utilize derivatives
to manage price risk for our principal ingredients and energy costs, including grains (oats, wheat, and corn), oils (principally soybean),
dairy products, natural gas, and diesel fuel. Our primary objective when entering into these derivative contracts is to achieve certainty
with regard to the future price of commodities purchased for use in our supply chain. We manage our exposures through a
combination of purchase orders, long-term contracts with suppliers, exchange-traded futures and options, and over-the-counter options
and swaps. We offset our exposures based on current and projected market conditions and generally seek to acquire the inputs at as
close as possible to or below our planned cost.
We use derivatives to manage our exposure to changes in commodity prices. We do not perform the assessments required to achieve
hedge accounting for commodity derivative positions. Accordingly, the changes in the values of these derivatives are recorded in cost
of sales in our Consolidated Statements of Earnings.
Although we do not meet the criteria for cash flow hedge accounting, we believe that these instruments are effective in achieving our
objective of providing certainty in the future price of commodities purchased for use in our supply chain. Accordingly, for purposes of
measuring segment operating performance, these gains and losses are reported in unallocated corporate items outside of segment
operating results until such time that the exposure we are managing affects earnings. At that time, we reclassify the gain or loss from
unallocated corporate items to segment operating profit, allowing our operating segments to realize the economic effects of the
derivative without experiencing any resulting mark-to-market volatility, which remains in unallocated corporate items.
Unallocated corporate items for the quarters and nine-month periods ended February 22, 2026, and February 23, 2025, included:
Quarter Ended
Nine-Month Period Ended
In Millions
Feb. 22, 2026
Feb. 23, 2025
Feb. 22, 2026
Feb. 23, 2025
Net gain (loss) on mark-to-market valuation of certain
commodity positions
$14.7
$16.0
$9.4
$(18.3)
Net loss on commodity positions reclassified from
unallocated corporate items to segment operating profit
1.8
7.3
1.6
43.6
Net mark-to-market revaluation of certain grain inventories
0.7
(0.1)
1.7
(1.5)
Net mark-to-market valuation of certain commodity
positions recognized in unallocated corporate items
$17.2
$23.2
$12.7
$23.8
As of February 22, 2026, the net notional value of commodity derivatives was $140.5 million, of which $82.1 million related to
energy inputs and $58.4 million related to agricultural inputs. These contracts relate to inputs that generally will be utilized within the
next 12 months.
We also have net investments in foreign subsidiaries that are denominated in euros. As of February 22, 2026, we hedged a portion of
these investments with €3,645.1 million of euro-denominated bonds.
During the fourth quarter of fiscal 2025, we entered into a €750.0 million notional amount interest rate swap to convert our €750.0
million fixed-rate notes due April 17, 2032, to a floating rate.
During the second quarter of fiscal 2025, in advance of planned debt financing, we entered into $350.0 million of treasury locks. The
treasury locks were terminated during the second quarter of fiscal 2025, in conjunction with the Company’s issuance of $750.0 million
of fixed-rate notes due January 30, 2035. Upon termination, a gain of $0.1 million was recognized in AOCI and will be amortized
through interest expense over the respective term of the debt.
During the second quarter of fiscal 2025, we entered into a $750.0 million notional amount interest rate swap to convert our $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 million notional amount interest rate swap to convert our $500.0 million of fixed-
rate notes due November 18, 2025, to a floating rate was called by the counterparty prior to the maturity date. The previously existing
swap was designated as a fair value hedge, and concurrent with the swap being called, we ceased recording market value adjustments
to the associated hedged debt.
The fair values of the derivative positions used in our risk management activities and other assets recorded at fair value were not
material as of February 22, 2026, and were Level 1 or Level 2 assets and liabilities in the fair value hierarchy. We did not significantly
change our valuation techniques from prior periods.
We offer certain suppliers access to third-party services that allow them to view our scheduled payments online. The third-party
services also allow suppliers to finance advances on our scheduled payments at the sole discretion of the supplier and the third party.
We have no economic interest in these financing arrangements and no direct relationship with the suppliers, the third parties, or any
financial institutions concerning these services, including not providing any form of guarantee and not pledging assets as security to
the third parties or financial institutions. All of our accounts payable remain as obligations to our suppliers as stated in our supplier
agreements. As of February 22, 2026, $1,380.5 million of our total accounts payable were payable to suppliers who utilize these third-
party services. As of May 25, 2025, $1,427.5 million of our total accounts payable were payable to suppliers who utilize these third-
party services.
v3.26.1
Debt
 9 Months Ended
Feb. 22, 2026
Debt Disclosure [Abstract]  
Debt Debt
The components of notes payable and their respective weighted-average interest rates were as follows:
Feb. 22, 2026
May 25, 2025
In Millions
Notes Payable
Weighted-
Average
Interest Rate
Notes Payable
Weighted-
Average
Interest Rate
U.S. commercial paper
$832.6
3.7%
$669.4
4.5%
Financial institutions
4.7
4.0
7.6
5.8
Total
$837.3
3.7%
$677.0
4.5%
To ensure availability of funds, we maintain bank credit lines and have commercial paper programs available to us in the United States
and Europe.
The following table details the credit facilities and lines of credit we had available as of February 22, 2026:
In Millions
Borrowing
Capacity
Borrowed
Amount
Committed credit facility expiring October 2029
$2,700.0
$—
Uncommitted credit facilities and lines of credit
776.8
4.7
Total
$3,476.8
$4.7
The credit facilities contain covenants, including a requirement to maintain a fixed charge coverage ratio of at least 2.5 times. We were
in compliance with all credit facility covenants as of February 22, 2026.
Long-Term Debt
The fair values and carrying amounts of long-term debt, including the current portion, were $12,848.4 million and $13,130.4 million,
respectively, as of February 22, 2026. The fair value of long-term debt was estimated using market quotations and discounted cash
flows based on our current incremental borrowing rates for similar types of instruments. Long-term debt is a Level 2 liability in the
fair value hierarchy.
In the third quarter of fiscal 2026, we repaid €600.0 million of 0.45 percent fixed-rate notes due January 15, 2026, using proceeds
from the issuance of commercial paper and cash on hand.
In the second quarter of fiscal 2026, we repaid €500.0 million of 0.125 percent fixed-rate notes due November 15, 2025, with cash on
hand.
In the fourth quarter of fiscal 2025, we issued €750.0 million of 3.6 percent fixed-rate notes due April 17, 2032. We used the net
proceeds to repay $800.0 million of 4.0 percent fixed-rate notes due April 17, 2025, and a portion of our outstanding commercial
paper, as well as for general corporate purposes.
In the third quarter of fiscal 2025, we repaid $500.0 million of 5.241 percent fixed-rate notes due November 18, 2025, using proceeds
from the issuance of commercial paper.
In the second quarter of fiscal 2025, we issued $750.0 million of 4.875 percent fixed-rate notes due January 30, 2030. We used the net
proceeds to fund the Whitebridge Pet Brands acquisition.
In the second quarter of fiscal 2025, we issued $750.0 million of 5.25 percent fixed-rate notes due January 30, 2035. We used the net
proceeds to fund the Whitebridge Pet Brands acquisition.
In the second quarter of fiscal 2025, we issued €250.0 million of floating-rate notes due April 22, 2026. We used the net proceeds to
repay €250.0 million of floating-rate notes due November 8, 2024.
In the second quarter of fiscal 2025, we issued €500.0 million of floating-rate notes due October 22, 2026. We used the net proceeds to
repay €500.0 million of floating-rate notes due November 8, 2024.
Certain of our long-term debt agreements contain restrictive covenants. As of February 22, 2026, we were in compliance with all of
these covenants.
v3.26.1
Noncontrolling Interest
 9 Months Ended
Feb. 22, 2026
Noncontrolling Interest [Abstract]  
Noncontrolling Interest Noncontrolling Interest
During the fourth quarter of fiscal 2025, we purchased the outstanding General Mills Cereals, LLC (GMC) Class A limited
membership interests (GMC Class A Interests) from the third-party holder for $252.8 million. The GMC Class A Interests represented
our principal noncontrolling interest. The third-party holder of the GMC Class A Interests received quarterly preferred distributions
from available net income based on the application of a floating preferred return rate to the holder’s capital account balance
established in the most recent mark-to-market valuation. On June 1, 2024, the floating preferred return rate was reset to the sum of the
three-month Term SOFR plus 261 basis points.
v3.26.1
Stockholders' Equity
 9 Months Ended
Feb. 22, 2026
Equity [Abstract]  
Stockholders' Equity Stockholders’ Equity
The following tables provide details of total comprehensive income:
Quarter Ended
Quarter Ended
Feb. 22, 2026
Feb. 23, 2025
General Mills
Noncontrolling
Interests
General Mills
Noncontrolling
Interests
In Millions
Pretax
Tax
Net
Net
Pretax
Tax
Net
Net
Net earnings, including earnings
attributable to noncontrolling interests
$303.1
$2.4
$625.6
$5.4
Other comprehensive income (loss):
Foreign currency translation
$(14.1)
$26.1
12.0
0.3
$2.5
$3.7
6.2
—
Net actuarial gain
3.8
—
3.8
—
—
—
—
—
Other fair value changes:
Hedge derivatives
(1.4)
(0.1)
(1.5)
—
2.3
(1.2)
1.1
—
Reclassification to earnings:
Foreign currency translation (a)
—
—
—
—
33.9
—
33.9
—
Hedge derivatives (b)
0.6
1.7
2.3
—
(3.7)
0.7
(3.0)
—
Amortization of losses and
    prior service costs (c)
14.6
(3.2)
11.4
—
14.1
(2.9)
11.2
—
Other comprehensive income
$3.5
$24.5
28.0
0.3
$49.1
$0.3
49.4
—
Total comprehensive income
$331.1
$2.7
$675.0
$5.4
(a)    Loss reclassified from AOCI into earnings is reported in divestitures loss (gain), net.
(b)    Loss (gain) reclassified from AOCI into earnings is reported in interest, net for interest rate swaps and in cost of sales and selling, general, and administrative (SG&A) expenses for
        foreign exchange contracts.
(c)    Loss reclassified from AOCI into earnings is reported in benefit plan non-service income.
Nine-Month Period Ended
Nine-Month Period Ended
Feb. 22, 2026
Feb. 23, 2025
General Mills
Noncontrolling
Interests
General Mills
Noncontrolling
Interests
In Millions
Pretax
Tax
Net
Net
Pretax
Tax
Net
Net
Net earnings, including earnings
attributable to noncontrolling interests
$1,920.3
$3.5
$2,001.2
$15.7
Other comprehensive (loss) income:
Foreign currency translation
$(83.4)
$43.1
(40.3)
0.3
$9.5
$(35.6)
(26.1)
(0.8)
Net actuarial loss
(3.7)
—
(3.7)
—
—
—
—
—
Other fair value changes:
Hedge derivatives
8.8
(2.2)
6.6
—
6.6
(2.3)
4.3
—
Reclassification to earnings:
Foreign currency translation (a)
—
—
—
—
33.9
—
33.9
—
Hedge derivatives (b)
(2.6)
1.0
(1.6)
—
(2.9)
1.6
(1.3)
—
Amortization of losses and
  prior service costs (c)
50.4
(10.6)
39.8
—
43.2
(8.7)
34.5
—
Other comprehensive income (loss)
$(30.5)
$31.3
0.8
0.3
$90.3
$(45.0)
45.3
(0.8)
Total comprehensive income
$1,921.1
$3.8
$2,046.5
$14.9
(a)  Loss reclassified from AOCI into earnings is reported in divestitures loss (gain), net.
(b)  Gain reclassified from AOCI into earnings is reported in interest, net for interest rate swaps and in cost of sales and selling, general, and administrative (SG&A) expenses for foreign
        exchange contracts.
(c)  Loss reclassified from AOCI into earnings is reported in benefit plan non-service income. In the second quarter of fiscal 2026, a $6.7 million loss related to a curtailment was reclassified
      from AOCI into earnings and is reported in Restructuring, transformation, impairment, and other exit costs (recoveries) in our Consolidated Statements of Earnings.
Accumulated other comprehensive loss balances, net of tax effects, were as follows:
In Millions
Feb. 22, 2026
May 25, 2025
Foreign currency translation adjustments
$(917.0)
$(876.7)
Unrealized loss from hedge derivatives
(2.4)
(7.4)
Pension, other postretirement, and postemployment benefits:
Net actuarial loss
(1,678.7)
(1,726.8)
Prior service credits
53.9
65.9
Accumulated other comprehensive loss
$(2,544.2)
$(2,545.0)
v3.26.1
Stock Plans
 9 Months Ended
Feb. 22, 2026
Share-Based Payment Arrangement [Abstract]  
Stock Plans Stock Plans
We have various stock-based compensation programs under which awards, including stock options, restricted stock, restricted stock
units, and performance awards, may be granted to employees and non-employee directors. These programs and related accounting are
described in Note 12 to the Consolidated Financial Statements included in our Annual Report on Form 10-K for the fiscal year ended
May 25, 2025.
Compensation expense related to stock-based payments recognized in the Consolidated Statements of Earnings was as follows:
Quarter Ended
Nine-Month Period Ended
In Millions
Feb. 22, 2026
Feb. 23, 2025
Feb. 22, 2026
Feb. 23, 2025
Compensation expense related to stock-based payments
$26.3
$20.5
$65.6
$67.1
Compensation expense related to stock-based payments recognized in the Consolidated Statements of Earnings includes amounts
recognized in restructuring, transformation, impairment, and other exit costs in fiscal 2026.
Windfall (shortfall) tax benefits from stock-based payments in income tax expense in our Consolidated Statements of Earnings were as
follows:
Quarter Ended
Nine-Month Period Ended
In Millions
Feb. 22, 2026
Feb. 23, 2025
Feb. 22, 2026
Feb. 23, 2025
Windfall (shortfall) tax benefits from
  stock-based payments
$0.4
$1.1
$(1.2)
$5.9
As of February 22, 2026, unrecognized compensation expense related to non-vested stock options, restricted stock units, and
performance share units was $138.5 million. This expense will be recognized over 24 months on average.
Net cash proceeds from the exercise of stock options less shares used for withholding taxes and the intrinsic value of options exercised
were as follows:
Nine-Month Period Ended
In Millions
Feb. 22, 2026
Feb. 23, 2025
Net cash proceeds
$0.4
$38.4
Intrinsic value of options exercised
$—
$11.0
We estimate the fair value of each option on the grant date using a Black-Scholes option-pricing model, which requires us to make
predictive assumptions regarding future stock price volatility, employee exercise behavior, dividend yield, and the forfeiture rate. We
estimate our future stock price volatility using the historical volatility over the expected term of the option, excluding time periods of
volatility we believe a marketplace participant would exclude in estimating our stock price volatility. We also have considered, but did
not use, implied volatility in our estimate, because trading activity in options on our stock, especially those with tenors of greater than
6 months, is insufficient to provide a reliable measure of expected volatility. Our method of selecting the other valuation assumptions
is explained in Note 12 to the Consolidated Financial Statements included in our Annual Report on Form 10-K for the fiscal year
ended May 25, 2025.
The estimated fair values of stock options granted and the assumptions used for the Black-Scholes option-pricing model were as
follows:
Nine-Month Period Ended
Feb. 22, 2026
Feb. 23, 2025
Estimated fair values of stock options granted
$9.45
$13.26
Assumptions:
Risk-free interest rate
4.2
%
4.5
%
Expected term
8.0 years
8.5 years
Expected volatility
22.3
%
21.6
%
Dividend yield
4.7
%
3.8
%
The total grant date fair value of restricted stock unit awards that vested during the period was as follows:
Nine-Month Period Ended
In Millions
Feb. 22, 2026
Feb. 23, 2025
Total grant date fair value
$109.2
$111.3
v3.26.1
Earnings Per Share
 9 Months Ended
Feb. 22, 2026
Earnings Per Share [Abstract]  
Earnings Per Share Earnings Per Share
Basic and diluted earnings per share (EPS) were calculated using the following:
Quarter Ended
Nine-Month Period Ended
In Millions, Except per Share Data
Feb. 22, 2026
Feb. 23, 2025
Feb. 22, 2026
Feb. 23, 2025
Net earnings attributable to General Mills
$303.1
$625.6
$1,920.3
$2,001.2
Average number of common shares – basic EPS
536.6
552.6
538.1
556.6
Incremental share effect from: (a)
Stock options
—
1.0
0.1
1.4
Restricted stock units and performance share units
0.7
1.4
1.0
1.8
Average number of common shares – diluted EPS
537.3
555.0
539.2
559.8
Earnings per share – basic
$0.57
$1.14
$3.57
$3.60
Earnings per share – diluted
$0.56
$1.12
$3.56
$3.57
(a)Incremental shares from stock options, restricted stock units, and performance share units are computed by the treasury stock
method. Stock options, restricted stock units, and performance share units excluded from our computation of diluted EPS because
they were not dilutive were as follows:
Quarter Ended
Nine-Month Period Ended
In Millions
Feb. 22, 2026
Feb. 23, 2025
Feb. 22, 2026
Feb. 23, 2025
Anti-dilutive stock options, restricted stock units,
and performance share units
12.4
5.3
11.6
4.7
v3.26.1
Share Repurchases
 9 Months Ended
Feb. 22, 2026
Equity [Abstract]  
Share Repurchases Share Repurchases
Share repurchases were as follows:
Quarter Ended
Nine-Month Period Ended
In Millions
Feb. 22, 2026
Feb. 23, 2025
Feb. 22, 2026
Feb. 23, 2025
Shares of common stock
—
4.8
10.0
13.5
Aggregate purchase price
$0.2
$304.4
$504.7
$909.6
During the first quarter of fiscal 2026, we entered into two accelerated share repurchase (ASR) agreements with an unrelated third-
party financial institution to repurchase an aggregate of $500.0 million of our shares of common stock. Under the ASR agreements, we
paid an aggregate of $500.0 million and received an initial delivery of 7.5 million shares of our common stock in the first quarter of
fiscal 2026.
The first ASR agreement was settled in the first quarter of fiscal 2026 with a final delivery of 1.2 million additional shares. The second
ASR agreement was settled in the second quarter of fiscal 2026 with a final delivery of 1.3 million additional shares. We received a
total of 10.0 million shares at an average price of $49.92, not including costs of execution or excise tax, under the ASR agreements.
v3.26.1
Statements of Cash Flows
 9 Months Ended
Feb. 22, 2026
Supplemental Cash Flow Information [Abstract]  
Statements of Cash Flows Statements of Cash Flows
Our Consolidated Statements of Cash Flows include the following:
Nine-Month Period Ended
In Millions
Feb. 22, 2026
Feb. 23, 2025
Net cash interest payments
$375.2
$302.2
Net income tax payments
$346.6
$444.6
v3.26.1
Retirement and Postemployment Benefits
 9 Months Ended
Feb. 22, 2026
Retirement Benefits [Abstract]  
Retirement and Postemployment Benefits Retirement and Postemployment Benefits
Components of net periodic benefit expense (income) are as follows:
Defined Benefit
Pension Plans
Other Postretirement
Benefit Plans
Postemployment
Benefit Plans
Quarter Ended
Quarter Ended
Quarter Ended
In Millions
Feb. 22, 2026
Feb. 23, 2025
Feb. 22, 2026
Feb. 23, 2025
Feb. 22, 2026
Feb. 23, 2025
Service cost
$10.6
$12.9
$0.6
$1.0
$1.8
$1.8
Interest cost
72.8
76.6
4.2
5.3
0.8
1.0
Expected return on plan assets
(101.3)
(104.9)
(8.4)
(9.0)
—
—
Amortization of losses (gains)
26.2
25.0
(6.4)
(5.1)
0.1
(0.3)
Amortization of prior service
  costs (credits)
0.3
0.3
(5.3)
(5.5)
(0.3)
(0.3)
Other adjustments
—
—
—
—
2.0
3.0
Net expense (income)
$8.6
$9.9
$(15.3)
$(13.3)
$4.4
$5.2
Defined Benefit
Pension Plans
Other Postretirement
Benefit Plans
Postemployment
Benefit Plans
Nine-Month Period Ended
Nine-Month Period Ended
Nine-Month Period Ended
In Millions
Feb. 22, 2026
Feb. 23, 2025
Feb. 22, 2026
Feb. 23, 2025
Feb. 22, 2026
Feb. 23, 2025
Service cost
$31.5
$38.8
$1.8
$3.2
$5.2
$5.3
Interest cost
218.5
230.0
12.6
15.9
2.6
3.0
Expected return on plan assets
(303.9)
(314.9)
(25.2)
(26.9)
—
—
Amortization of losses (gains)
78.7
75.0
(19.4)
(15.4)
0.2
—
Amortization of prior service
  costs (credits)
0.9
1.0
(15.9)
(16.6)
(0.8)
(0.8)
Other adjustments
—
—
—
—
6.1
8.1
Curtailment loss (gain)
6.7
—
(0.5)
—
—
—
Net expense (income)
$32.4
$29.9
$(46.6)
$(39.8)
$13.3
$15.6
v3.26.1
Income Taxes
 9 Months Ended
Feb. 22, 2026
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
On July 4, 2025, legislation known as the One Big Beautiful Bill Act (OBBBA) was signed into law. The OBBBA makes changes to
the United States corporate income tax system, including, among other provisions, the immediate expensing of research and
development expenditures, and 100 percent bonus depreciation on qualified property. The impacts of the OBBBA are reflected in our
results for the nine-month period ended February 22, 2026, and there was no material impact to our income tax expense. As of the
nine-month period ended February 22, 2026, we expect certain provisions of the OBBBA will change the timing of cash tax payments
in the current fiscal year and future periods.
In December 2021, the Organization for Economic Cooperation and Development (OECD) established a framework, referred to as
Pillar 2, designed to ensure large multinational enterprises pay a minimum 15 percent level of tax on the income arising in each
jurisdiction in which they operate. Numerous countries have already enacted the OECD model rules effective for taxable years
beginning after December 31, 2023, which for us was fiscal 2025. There was no material impact on our consolidated financial
statements. Several other countries have enacted or drafted legislation that is not yet effective for us, and we do not expect this
legislation to have a material impact on our consolidated financial statements. We will continue to monitor for new legislation and
guidance and evaluate potential impact on our consolidated financial statements.
During the second quarter of fiscal 2024, we received a notice of proposed adjustment from the Internal Revenue Service associated
with a capital loss from fiscal 2019. We believe that we have meritorious defenses against this assessment and will vigorously defend
our position. We do not expect the resolution of the proposed adjustment to have a material impact on our financial position or
liquidity.
v3.26.1
Business Segment And Geographic Information
 9 Months Ended
Feb. 22, 2026
Segment Reporting [Abstract]  
Business Segment and Geographic Information Business Segment and Geographic Information
We operate in the packaged foods industry. Our operating segments are as follows: North America Retail, International, North
America Pet, and North America Foodservice. 
Our North America Retail operating segment reflects business with a wide variety of grocery stores, mass merchandisers, membership
stores, natural food chains, drug, dollar and discount chains, convenience stores, and e-commerce grocery providers. Our product
categories in this business segment include ready-to-eat cereals, soup, meal kits, refrigerated and frozen dough products, dessert and
baking mixes, frozen pizza and pizza snacks, snack bars, fruit snacks, savory snacks, and a wide variety of organic products including
ready-to-eat cereal, frozen vegetables, meal kits, fruit snacks, and snack bars.
Our International operating segment consists of retail and foodservice businesses outside of the United States and Canada. Our product
categories include super-premium ice cream and frozen desserts, meal kits, salty snacks, snack bars, dessert and baking mixes, shelf-
stable vegetables, and pet food products. We also sell super-premium ice cream and frozen desserts directly to consumers through
owned retail shops. Our International segment also includes products manufactured in the United States for export, mainly to
Caribbean and Latin American markets, as well as products we manufacture for sale to our international joint ventures. Revenues from
export activities are reported in the region or country where the end customer is located.
Our North America Pet operating segment includes pet food products sold primarily in the United States and Canada in national pet
superstore chains, e-commerce retailers, grocery stores, regional pet store chains, mass merchandisers, and veterinary clinics and
hospitals. Our product categories include dog and cat food (dry foods, wet foods, fresh foods, and treats) made with whole meats,
fruits, vegetables, and other high-quality natural ingredients. Our tailored pet product offerings address specific dietary, lifestyle, and
life-stage needs and span different product types, diet types, breed sizes for dogs, life-stages, flavors, product functions, and textures
and cuts for wet and fresh foods.
Our North America Foodservice segment consists of foodservice businesses in the United States and Canada. Our major product
categories in our North America Foodservice operating segment are ready-to-eat cereals, snacks, frozen meals, unbaked and fully
baked frozen dough products, baking mixes, and bakery flour. Many products we sell are branded to the consumer and nearly all are
branded to our customers. We sell to distributors and operators in many customer channels including foodservice, vending, and
supermarket bakeries.
Our chief operating decision maker (CODM) is the Chairman of the Board and Chief Executive Officer. The CODM predominantly
uses segment operating profit in the annual planning process which includes segment operating profit performance targets. The
CODM assesses progress against performance targets by comparing segment operating profit actual-to-plan variances on a monthly
basis. The performance assessment completed by the CODM is used to determine whether resource allocations require adjustment and
contributes to the determination of incentive compensation.
Operating profit for these segments excludes unallocated corporate items, gain or loss on divestitures, and restructuring,
transformation, impairment, and other exit costs. Results from certain businesses managed by our Strategic Growth Office are
included within corporate and other net sales and unallocated corporate items within operating profit. Unallocated corporate items also
include corporate overhead expenses, variances to planned North American employee benefits and incentives, certain charitable
contributions, restructuring initiative project-related costs, gains and losses on corporate investments, and other items that are not part
of our measurement of segment operating performance. These include gains and losses arising from the revaluation of certain grain
inventories and gains and losses from mark-to-market valuation of certain commodity positions until passed back to our operating
segments. These items affecting operating profit are centrally managed at the corporate level and are excluded from the measure of
segment profitability reviewed by executive management. Under our supply chain organization, our manufacturing, warehouse, and
distribution activities are substantially integrated across our operations in order to maximize efficiency and productivity. As a result,
fixed assets and depreciation and amortization expenses are neither maintained nor available by operating segment.
Our operating segment results were as follows:
Quarter Ended February 22, 2026
In Millions
North
America
Retail
International
North
America Pet
North
America
Foodservice
Total
Segment net sales
$2,596.4
$696.3
$640.5
$496.4
$4,429.6
Corporate and other net sales
7.1
Total net sales
$4,436.7
Cost of sales
1,758.9
526.7
400.9
397.9
Selling, general, and
  administrative expenses
401.4
136.0
136.8
42.2
Segment operating profit
$436.1
$33.6
$102.8
$56.3
$628.8
Unallocated corporate items
74.8
Divestiture loss
5.0
Restructuring, transformation, impairment,
  and other exit costs
24.4
Operating profit
$524.6
Quarter Ended February 23, 2025
In Millions
North
America
Retail
International
North
America Pet
North
America
Foodservice
Total
Segment net sales
$3,009.1
$651.3
$623.7
$555.3
$4,839.4
Corporate and other net sales
2.8
Total net sales
$4,842.2
Cost of sales
1,926.5
493.6
386.3
430.7
Selling, general, and
  administrative expenses
434.5
139.7
135.2
42.3
Segment operating profit
$648.1
$18.0
$102.2
$82.3
$850.6
Unallocated corporate items
55.9
Divestiture gain
(95.9)
Restructuring, transformation, impairment,
  and other exit recoveries
(0.8)
Operating profit
$891.4
Nine-Month Period Ended February 22, 2026
In Millions
North
America
Retail
International
North
America Pet
North
America
Foodservice
Total
Segment net sales
$8,105.2
$2,185.4
$1,910.9
$1,594.9
$13,796.4
Corporate and other net sales
18.6
Total net sales
$13,815.0
Cost of sales
5,218.1
1,606.8
1,163.7
1,233.7
Selling, general, and
  administrative expenses
1,204.5
450.9
408.4
129.5
Segment operating profit
$1,682.6
$127.7
$338.8
$231.7
$2,380.8
Unallocated corporate items
289.0
Divestitures gain, net
(1,049.4)
Restructuring, transformation, impairment,
  and other exit costs
162.8
Operating profit
$2,978.4
Nine-Month Period Ended February 23, 2025
In Millions
North
America
Retail
International
North
America Pet
North
America
Foodservice
Total
Segment net sales
$9,347.2
$2,058.9
$1,795.6
$1,721.5
$14,923.2
Corporate and other net sales
7.2
Total net sales
$14,930.4
Cost of sales
5,786.8
1,562.4
1,066.0
1,318.4
Selling, general, and
  administrative expenses
1,304.3
433.8
368.7
130.8
Segment operating profit
$2,256.1
$62.7
$360.9
$272.3
$2,952.0
Unallocated corporate items
244.5
Divestiture gain
(95.9)
Restructuring, transformation, impairment,
  and other exit costs
2.6
Operating profit
$2,800.8
Net sales for our North America Retail operating units were as follows:
Quarter Ended
Nine-Month Period Ended
In Millions
Feb. 22, 2026
Feb. 23, 2025
Feb. 22, 2026
Feb. 23, 2025
U.S. Meals & Baking Solutions
$1,091.8
$1,130.4
$3,326.0
$3,404.6
Big G Cereal & Canada (a)
743.4
1,060.7
2,389.8
3,371.0
U.S. Snacks
761.2
818.0
2,389.4
2,571.6
Total
$2,596.4
$3,009.1
$8,105.2
$9,347.2
(a) Upon completion of the United States yogurt business divestiture, the former U.S. Morning Foods and Canada operating units were
combined into a new Big G Cereal & Canada operating unit. Prior period amounts have been recast to conform to the current
period presentation. This did not result in a change to the composition of our reportable segments or information reviewed by our
CODM.
Net sales by class of similar products were as follows:
Quarter Ended
Nine-Month Period Ended
In Millions
Feb. 22, 2026
Feb. 23, 2025
Feb. 22, 2026
Feb. 23, 2025
Snacks
$962.6
$996.0
$3,030.2
$3,157.8
Cereal
762.7
762.8
2,321.1
2,385.4
Convenient meals
730.3
754.1
2,208.1
2,228.1
Pet
678.1
651.7
2,019.8
1,880.1
Dough
618.6
647.5
1,854.6
1,887.9
Baking mixes and ingredients
476.1
467.5
1,480.1
1,501.8
Super-premium ice cream
147.7
137.5
544.9
514.0
Yogurt
—
333.1
102.0
1,082.8
Other
60.6
92.0
254.2
292.5
Total
$4,436.7
$4,842.2
$13,815.0
$14,930.4
v3.26.1
Insider Trading Arrangements
 3 Months Ended
Feb. 22, 2026
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.26.1
Background (Policies)
 9 Months Ended
Feb. 22, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Basis of accounting The accompanying Consolidated Financial Statements of General Mills, Inc. (we, us, our, General Mills, or the Company) have been
prepared in accordance with accounting principles generally accepted in the United States (GAAP) for interim financial information
and with the rules and regulations for reporting on Form 10-Q.
v3.26.1
Restructuring, Transformation, Impairment, and Other Exit Costs (Tables)
 9 Months Ended
Feb. 22, 2026
Restructuring and Related Activities [Abstract]  
Schedule of Restructuring, Transformation, and Impairment Charges and Restructuring, Transformation, and Other Exit Cost Reserves, Included in Other Current Liabilities Restructuring, transformation, and impairment charges (recoveries) were as follows:
Quarter Ended
Nine-Month Period Ended
In Millions
Feb. 22, 2026
Feb. 23, 2025
Feb. 22, 2026
Feb. 23, 2025
Supply chain actions
$25.1
$—
$75.4
$—
Other intangible asset impairment
—
—
52.9
—
Charges (recoveries) associated with restructuring and
  transformation actions previously announced
7.7
(0.6)
47.9
3.6
Total
$32.8
$(0.6)
$176.2
$3.6
The roll forward of our restructuring, transformation, and other exit cost reserves, included in other current liabilities, is as follows:
In Millions
Total
Reserve balance as of May 25, 2025
$77.1
Fiscal 2026 charges, including foreign currency translation
4.7
Utilized in fiscal 2026
(28.8)
Reserve balance as of Feb. 22, 2026
$53.0
Schedule of Restructuring, Impairment Charges and Project-Related Costs Restructuring, transformation, and impairment charges (recoveries) are recorded in our Consolidated Statements of Earnings as
follows:
Quarter Ended
Nine-Month Period Ended
In Millions
Feb. 22, 2026
Feb. 23, 2025
Feb. 22, 2026
Feb. 23, 2025
Restructuring, transformation, impairment, and other exit
  costs (recoveries)
$24.4
$(0.8)
$162.8
$2.6
Cost of sales
8.4
0.2
13.4
1.0
Total restructuring, transformation, and impairment
  charges (recoveries)
$32.8
$(0.6)
$176.2
$3.6
v3.26.1
Goodwill and Other Intangible Assets (Tables)
 9 Months Ended
Feb. 22, 2026
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Components of Goodwill and Other Intangible Assets The components of goodwill and other intangible assets are as follows:
In Millions
Feb. 22, 2026
May 25, 2025
Goodwill
$15,634.4
$15,622.4
Other intangible assets:
Intangible assets not subject to amortization:
Brands
6,780.2
6,816.7
Intangible assets subject to amortization:
Customer relationships and other finite-lived intangibles
421.3
420.9
Less accumulated amortization
(171.4)
(156.2)
Intangible assets subject to amortization, net
249.9
264.7
Other intangible assets
7,030.1
7,081.4
Total
$22,664.5
$22,703.8
Schedule of Changes in Carrying Amount of Goodwill The changes in the carrying amount of goodwill during the nine-month period ended February 22, 2026, were as follows:
In Millions
North
America
Retail
North
America
Pet
North
America
Foodservice
International
(a)
Corporate
and Joint
Ventures
Total
Balance as of May 25, 2025
$6,323.5
$7,149.5
$755.5
$951.7
$442.2
$15,622.4
Divestiture
(4.7)
—
(0.2)
—
—
(4.9)
Purchase accounting adjustments
—
(31.9)
—
—
—
(31.9)
Other activity, primarily
  foreign currency translation
0.3
—
—
33.1
15.4
48.8
Balance as of Feb. 22, 2026
$6,319.1
$7,117.6
$755.3
$984.8
$457.6
$15,634.4
(a)The carrying amounts of goodwill within the International segment as of May 25, 2025, and February 22, 2026, were net of
accumulated impairment losses of $117.1 million. For additional information, see Note 6 to the Consolidated Financial Statements
included in our Annual Report on Form 10-K for the fiscal year ended May 25, 2025.
Schedule of Changes in Carrying Amount of Other Intangible Assets The changes in the carrying amount of other intangible assets during the nine-month period ended February 22, 2026, were as follows:
In Millions
Total
Balance as of May 25, 2025
$7,081.4
Impairment charge
(52.9)
Other activity, primarily foreign currency translation and amortization
1.6
Balance as of Feb. 22, 2026
$7,030.1
v3.26.1
Inventories (Tables)
 9 Months Ended
Feb. 22, 2026
Inventory Disclosure [Abstract]  
Schedule of Components of Inventories The components of inventories were as follows:
In Millions
Feb. 22, 2026
May 25, 2025
Finished goods
$1,755.7
$1,883.9
Raw materials and packaging
493.9
460.0
Grain
107.2
112.5
Excess of FIFO over LIFO cost
(601.1)
$(545.6)
Total
$1,755.7
$1,910.8
v3.26.1
Risk Management Activities (Tables)
 9 Months Ended
Feb. 22, 2026
Investments, All Other Investments [Abstract]  
Schedule of Unallocated Corporate Items Unallocated corporate items for the quarters and nine-month periods ended February 22, 2026, and February 23, 2025, included:
Quarter Ended
Nine-Month Period Ended
In Millions
Feb. 22, 2026
Feb. 23, 2025
Feb. 22, 2026
Feb. 23, 2025
Net gain (loss) on mark-to-market valuation of certain
commodity positions
$14.7
$16.0
$9.4
$(18.3)
Net loss on commodity positions reclassified from
unallocated corporate items to segment operating profit
1.8
7.3
1.6
43.6
Net mark-to-market revaluation of certain grain inventories
0.7
(0.1)
1.7
(1.5)
Net mark-to-market valuation of certain commodity
positions recognized in unallocated corporate items
$17.2
$23.2
$12.7
$23.8
v3.26.1
Debt (Tables)
 9 Months Ended
Feb. 22, 2026
Debt Disclosure [Abstract]  
Schedule of Components of Notes Payable The components of notes payable and their respective weighted-average interest rates were as follows:
Feb. 22, 2026
May 25, 2025
In Millions
Notes Payable
Weighted-
Average
Interest Rate
Notes Payable
Weighted-
Average
Interest Rate
U.S. commercial paper
$832.6
3.7%
$669.4
4.5%
Financial institutions
4.7
4.0
7.6
5.8
Total
$837.3
3.7%
$677.0
4.5%
Schedule of Fee-Paid Committed and Uncommitted Credit Lines The following table details the credit facilities and lines of credit we had available as of February 22, 2026:
In Millions
Borrowing
Capacity
Borrowed
Amount
Committed credit facility expiring October 2029
$2,700.0
$—
Uncommitted credit facilities and lines of credit
776.8
4.7
Total
$3,476.8
$4.7
v3.26.1
Stockholders' Equity (Tables)
 9 Months Ended
Feb. 22, 2026
Equity [Abstract]  
Schedule of Total Comprehensive Income The following tables provide details of total comprehensive income:
Quarter Ended
Quarter Ended
Feb. 22, 2026
Feb. 23, 2025
General Mills
Noncontrolling
Interests
General Mills
Noncontrolling
Interests
In Millions
Pretax
Tax
Net
Net
Pretax
Tax
Net
Net
Net earnings, including earnings
attributable to noncontrolling interests
$303.1
$2.4
$625.6
$5.4
Other comprehensive income (loss):
Foreign currency translation
$(14.1)
$26.1
12.0
0.3
$2.5
$3.7
6.2
—
Net actuarial gain
3.8
—
3.8
—
—
—
—
—
Other fair value changes:
Hedge derivatives
(1.4)
(0.1)
(1.5)
—
2.3
(1.2)
1.1
—
Reclassification to earnings:
Foreign currency translation (a)
—
—
—
—
33.9
—
33.9
—
Hedge derivatives (b)
0.6
1.7
2.3
—
(3.7)
0.7
(3.0)
—
Amortization of losses and
    prior service costs (c)
14.6
(3.2)
11.4
—
14.1
(2.9)
11.2
—
Other comprehensive income
$3.5
$24.5
28.0
0.3
$49.1
$0.3
49.4
—
Total comprehensive income
$331.1
$2.7
$675.0
$5.4
(a)    Loss reclassified from AOCI into earnings is reported in divestitures loss (gain), net.
(b)    Loss (gain) reclassified from AOCI into earnings is reported in interest, net for interest rate swaps and in cost of sales and selling, general, and administrative (SG&A) expenses for
        foreign exchange contracts.
(c)    Loss reclassified from AOCI into earnings is reported in benefit plan non-service income.
Nine-Month Period Ended
Nine-Month Period Ended
Feb. 22, 2026
Feb. 23, 2025
General Mills
Noncontrolling
Interests
General Mills
Noncontrolling
Interests
In Millions
Pretax
Tax
Net
Net
Pretax
Tax
Net
Net
Net earnings, including earnings
attributable to noncontrolling interests
$1,920.3
$3.5
$2,001.2
$15.7
Other comprehensive (loss) income:
Foreign currency translation
$(83.4)
$43.1
(40.3)
0.3
$9.5
$(35.6)
(26.1)
(0.8)
Net actuarial loss
(3.7)
—
(3.7)
—
—
—
—
—
Other fair value changes:
Hedge derivatives
8.8
(2.2)
6.6
—
6.6
(2.3)
4.3
—
Reclassification to earnings:
Foreign currency translation (a)
—
—
—
—
33.9
—
33.9
—
Hedge derivatives (b)
(2.6)
1.0
(1.6)
—
(2.9)
1.6
(1.3)
—
Amortization of losses and
  prior service costs (c)
50.4
(10.6)
39.8
—
43.2
(8.7)
34.5
—
Other comprehensive income (loss)
$(30.5)
$31.3
0.8
0.3
$90.3
$(45.0)
45.3
(0.8)
Total comprehensive income
$1,921.1
$3.8
$2,046.5
$14.9
(a)  Loss reclassified from AOCI into earnings is reported in divestitures loss (gain), net.
(b)  Gain reclassified from AOCI into earnings is reported in interest, net for interest rate swaps and in cost of sales and selling, general, and administrative (SG&A) expenses for foreign
        exchange contracts.
(c)  Loss reclassified from AOCI into earnings is reported in benefit plan non-service income. In the second quarter of fiscal 2026, a $6.7 million loss related to a curtailment was reclassified
      from AOCI into earnings and is reported in Restructuring, transformation, impairment, and other exit costs (recoveries) in our Consolidated Statements of Earnings.
Schedule of Accumulated Other Comprehensive Loss Balances, Net of Tax Effects Accumulated other comprehensive loss balances, net of tax effects, were as follows:
In Millions
Feb. 22, 2026
May 25, 2025
Foreign currency translation adjustments
$(917.0)
$(876.7)
Unrealized loss from hedge derivatives
(2.4)
(7.4)
Pension, other postretirement, and postemployment benefits:
Net actuarial loss
(1,678.7)
(1,726.8)
Prior service credits
53.9
65.9
Accumulated other comprehensive loss
$(2,544.2)
$(2,545.0)
v3.26.1
Stock Plans (Tables)
 9 Months Ended
Feb. 22, 2026
Share-Based Payment Arrangement [Abstract]  
Schedule of Compensation Expense Related to Stock-Based Payments Compensation expense related to stock-based payments recognized in the Consolidated Statements of Earnings was as follows:
Quarter Ended
Nine-Month Period Ended
In Millions
Feb. 22, 2026
Feb. 23, 2025
Feb. 22, 2026
Feb. 23, 2025
Compensation expense related to stock-based payments
$26.3
$20.5
$65.6
$67.1
Windfall (shortfall) tax benefits from stock-based payments in income tax expense in our Consolidated Statements of Earnings were as
follows:
Quarter Ended
Nine-Month Period Ended
In Millions
Feb. 22, 2026
Feb. 23, 2025
Feb. 22, 2026
Feb. 23, 2025
Windfall (shortfall) tax benefits from
  stock-based payments
$0.4
$1.1
$(1.2)
$5.9
Schedule of Net Cash Proceeds and Intrinsic Value of Options Exercised Net cash proceeds from the exercise of stock options less shares used for withholding taxes and the intrinsic value of options exercised
were as follows:
Nine-Month Period Ended
In Millions
Feb. 22, 2026
Feb. 23, 2025
Net cash proceeds
$0.4
$38.4
Intrinsic value of options exercised
$—
$11.0
Schedule of Estimated Fair Value of Stock Options Granted and Assumptions Used for Black-Scholes Option-Pricing Model The estimated fair values of stock options granted and the assumptions used for the Black-Scholes option-pricing model were as
follows:
Nine-Month Period Ended
Feb. 22, 2026
Feb. 23, 2025
Estimated fair values of stock options granted
$9.45
$13.26
Assumptions:
Risk-free interest rate
4.2
%
4.5
%
Expected term
8.0 years
8.5 years
Expected volatility
22.3
%
21.6
%
Dividend yield
4.7
%
3.8
%
Schedule of Grant Date Fair Value of Restricted Stock Unit Awards Activity The total grant date fair value of restricted stock unit awards that vested during the period was as follows:
Nine-Month Period Ended
In Millions
Feb. 22, 2026
Feb. 23, 2025
Total grant date fair value
$109.2
$111.3
v3.26.1
Earnings Per Share (Tables)
 9 Months Ended
Feb. 22, 2026
Earnings Per Share [Abstract]  
Schedule of Basic and Diluted EPS Basic and diluted earnings per share (EPS) were calculated using the following:
Quarter Ended
Nine-Month Period Ended
In Millions, Except per Share Data
Feb. 22, 2026
Feb. 23, 2025
Feb. 22, 2026
Feb. 23, 2025
Net earnings attributable to General Mills
$303.1
$625.6
$1,920.3
$2,001.2
Average number of common shares – basic EPS
536.6
552.6
538.1
556.6
Incremental share effect from: (a)
Stock options
—
1.0
0.1
1.4
Restricted stock units and performance share units
0.7
1.4
1.0
1.8
Average number of common shares – diluted EPS
537.3
555.0
539.2
559.8
Earnings per share – basic
$0.57
$1.14
$3.57
$3.60
Earnings per share – diluted
$0.56
$1.12
$3.56
$3.57
(a)Incremental shares from stock options, restricted stock units, and performance share units are computed by the treasury stock
method. Stock options, restricted stock units, and performance share units excluded from our computation of diluted EPS because
they were not dilutive were as follows:
Quarter Ended
Nine-Month Period Ended
In Millions
Feb. 22, 2026
Feb. 23, 2025
Feb. 22, 2026
Feb. 23, 2025
Anti-dilutive stock options, restricted stock units,
and performance share units
12.4
5.3
11.6
4.7
v3.26.1
Share Repurchases (Tables)
 9 Months Ended
Feb. 22, 2026
Equity [Abstract]  
Schedule of Share Repurchases Share repurchases were as follows:
Quarter Ended
Nine-Month Period Ended
In Millions
Feb. 22, 2026
Feb. 23, 2025
Feb. 22, 2026
Feb. 23, 2025
Shares of common stock
—
4.8
10.0
13.5
Aggregate purchase price
$0.2
$304.4
$504.7
$909.6
v3.26.1
Statements of Cash Flows (Tables)
 9 Months Ended
Feb. 22, 2026
Supplemental Cash Flow Information [Abstract]  
Schedule of Consolidated Statements of Cash Flows Supplemental Disclosures Our Consolidated Statements of Cash Flows include the following:
Nine-Month Period Ended
In Millions
Feb. 22, 2026
Feb. 23, 2025
Net cash interest payments
$375.2
$302.2
Net income tax payments
$346.6
$444.6
v3.26.1
Retirement and Postemployment Benefits (Tables)
 9 Months Ended
Feb. 22, 2026
Retirement Benefits [Abstract]  
Schedule of Components of Net Periodic Benefit Expense (Income) Components of net periodic benefit expense (income) are as follows:
Defined Benefit
Pension Plans
Other Postretirement
Benefit Plans
Postemployment
Benefit Plans
Quarter Ended
Quarter Ended
Quarter Ended
In Millions
Feb. 22, 2026
Feb. 23, 2025
Feb. 22, 2026
Feb. 23, 2025
Feb. 22, 2026
Feb. 23, 2025
Service cost
$10.6
$12.9
$0.6
$1.0
$1.8
$1.8
Interest cost
72.8
76.6
4.2
5.3
0.8
1.0
Expected return on plan assets
(101.3)
(104.9)
(8.4)
(9.0)
—
—
Amortization of losses (gains)
26.2
25.0
(6.4)
(5.1)
0.1
(0.3)
Amortization of prior service
  costs (credits)
0.3
0.3
(5.3)
(5.5)
(0.3)
(0.3)
Other adjustments
—
—
—
—
2.0
3.0
Net expense (income)
$8.6
$9.9
$(15.3)
$(13.3)
$4.4
$5.2
Defined Benefit
Pension Plans
Other Postretirement
Benefit Plans
Postemployment
Benefit Plans
Nine-Month Period Ended
Nine-Month Period Ended
Nine-Month Period Ended
In Millions
Feb. 22, 2026
Feb. 23, 2025
Feb. 22, 2026
Feb. 23, 2025
Feb. 22, 2026
Feb. 23, 2025
Service cost
$31.5
$38.8
$1.8
$3.2
$5.2
$5.3
Interest cost
218.5
230.0
12.6
15.9
2.6
3.0
Expected return on plan assets
(303.9)
(314.9)
(25.2)
(26.9)
—
—
Amortization of losses (gains)
78.7
75.0
(19.4)
(15.4)
0.2
—
Amortization of prior service
  costs (credits)
0.9
1.0
(15.9)
(16.6)
(0.8)
(0.8)
Other adjustments
—
—
—
—
6.1
8.1
Curtailment loss (gain)
6.7
—
(0.5)
—
—
—
Net expense (income)
$32.4
$29.9
$(46.6)
$(39.8)
$13.3
$15.6
v3.26.1
Business Segment and Geographic Information (Tables)
 9 Months Ended
Feb. 22, 2026
Segment Reporting [Abstract]  
Schedule of Operating Segment Results Our operating segment results were as follows:
Quarter Ended February 22, 2026
In Millions
North
America
Retail
International
North
America Pet
North
America
Foodservice
Total
Segment net sales
$2,596.4
$696.3
$640.5
$496.4
$4,429.6
Corporate and other net sales
7.1
Total net sales
$4,436.7
Cost of sales
1,758.9
526.7
400.9
397.9
Selling, general, and
  administrative expenses
401.4
136.0
136.8
42.2
Segment operating profit
$436.1
$33.6
$102.8
$56.3
$628.8
Unallocated corporate items
74.8
Divestiture loss
5.0
Restructuring, transformation, impairment,
  and other exit costs
24.4
Operating profit
$524.6
Quarter Ended February 23, 2025
In Millions
North
America
Retail
International
North
America Pet
North
America
Foodservice
Total
Segment net sales
$3,009.1
$651.3
$623.7
$555.3
$4,839.4
Corporate and other net sales
2.8
Total net sales
$4,842.2
Cost of sales
1,926.5
493.6
386.3
430.7
Selling, general, and
  administrative expenses
434.5
139.7
135.2
42.3
Segment operating profit
$648.1
$18.0
$102.2
$82.3
$850.6
Unallocated corporate items
55.9
Divestiture gain
(95.9)
Restructuring, transformation, impairment,
  and other exit recoveries
(0.8)
Operating profit
$891.4
Nine-Month Period Ended February 22, 2026
In Millions
North
America
Retail
International
North
America Pet
North
America
Foodservice
Total
Segment net sales
$8,105.2
$2,185.4
$1,910.9
$1,594.9
$13,796.4
Corporate and other net sales
18.6
Total net sales
$13,815.0
Cost of sales
5,218.1
1,606.8
1,163.7
1,233.7
Selling, general, and
  administrative expenses
1,204.5
450.9
408.4
129.5
Segment operating profit
$1,682.6
$127.7
$338.8
$231.7
$2,380.8
Unallocated corporate items
289.0
Divestitures gain, net
(1,049.4)
Restructuring, transformation, impairment,
  and other exit costs
162.8
Operating profit
$2,978.4
Nine-Month Period Ended February 23, 2025
In Millions
North
America
Retail
International
North
America Pet
North
America
Foodservice
Total
Segment net sales
$9,347.2
$2,058.9
$1,795.6
$1,721.5
$14,923.2
Corporate and other net sales
7.2
Total net sales
$14,930.4
Cost of sales
5,786.8
1,562.4
1,066.0
1,318.4
Selling, general, and
  administrative expenses
1,304.3
433.8
368.7
130.8
Segment operating profit
$2,256.1
$62.7
$360.9
$272.3
$2,952.0
Unallocated corporate items
244.5
Divestiture gain
(95.9)
Restructuring, transformation, impairment,
  and other exit costs
2.6
Operating profit
$2,800.8
Net sales for our North America Retail operating units were as follows:
Quarter Ended
Nine-Month Period Ended
In Millions
Feb. 22, 2026
Feb. 23, 2025
Feb. 22, 2026
Feb. 23, 2025
U.S. Meals & Baking Solutions
$1,091.8
$1,130.4
$3,326.0
$3,404.6
Big G Cereal & Canada (a)
743.4
1,060.7
2,389.8
3,371.0
U.S. Snacks
761.2
818.0
2,389.4
2,571.6
Total
$2,596.4
$3,009.1
$8,105.2
$9,347.2
(a) Upon completion of the United States yogurt business divestiture, the former U.S. Morning Foods and Canada operating units were
combined into a new Big G Cereal & Canada operating unit. Prior period amounts have been recast to conform to the current
period presentation. This did not result in a change to the composition of our reportable segments or information reviewed by our
CODM.
Schedule of Net Sales by Class of Similar Products Net sales by class of similar products were as follows:
Quarter Ended
Nine-Month Period Ended
In Millions
Feb. 22, 2026
Feb. 23, 2025
Feb. 22, 2026
Feb. 23, 2025
Snacks
$962.6
$996.0
$3,030.2
$3,157.8
Cereal
762.7
762.8
2,321.1
2,385.4
Convenient meals
730.3
754.1
2,208.1
2,228.1
Pet
678.1
651.7
2,019.8
1,880.1
Dough
618.6
647.5
1,854.6
1,887.9
Baking mixes and ingredients
476.1
467.5
1,480.1
1,501.8
Super-premium ice cream
147.7
137.5
544.9
514.0
Yogurt
—
333.1
102.0
1,082.8
Other
60.6
92.0
254.2
292.5
Total
$4,436.7
$4,842.2
$13,815.0
$14,930.4
v3.26.1
Acquisition and Divestitures (Details)
R$ in Millions, $ in Millions
 3 Months Ended 9 Months Ended
Feb. 22, 2026
USD ($)
Aug. 24, 2025
USD ($)
Feb. 23, 2025
USD ($)
Feb. 22, 2026
USD ($)
Feb. 23, 2025
USD ($)
Mar. 16, 2026
USD ($)
Mar. 16, 2026
BRL (R$)
May 25, 2025
USD ($)
Business Combination [Line Items]                
Pre-tax gain on sale of business $ (5.0)   $ 95.9 $ 1,049.4 $ 95.9      
Goodwill $ 15,634.4     15,634.4       $ 15,622.4
Goodwill, measurement period adjustment       $ 31.9        
Whitebridge Pet Brands' North American Premium Cat Feeding and Pet Treating Business                
Business Combination [Line Items]                
Purchase price     1,400.0          
Goodwill     1,086.7   1,086.7      
Indefinite-lived intangible assets     289.0   289.0      
Finite-lived intangibles     31.0   $ 31.0      
United States Yogurt Business                
Business Combination [Line Items]                
Pre-tax gain on sale of business   $ 1,046.5            
Canada Yogurt Business                
Business Combination [Line Items]                
Pre-tax gain on sale of business     $ 95.9          
Sale price adjustment after disposal   $ 7.9            
Brazil Business | Disposal Group, Held-for-Sale, Not Discontinued Operations | Subsequent Event                
Business Combination [Line Items]                
Base purchase price | R$             R$ 800.0  
Accumulated foreign currency translation losses           $ 622.1    
Net deferred tax assets           $ 238.3    
v3.26.1
Restructuring, Transformation, Impairment, and Other Exit Costs - Schedule of Restructuring, Transformation, and Impairment Charges (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Feb. 22, 2026
Nov. 23, 2025
Feb. 23, 2025
Feb. 22, 2026
Feb. 23, 2025
Restructuring Cost and Reserve [Line Items]          
Other intangible asset impairment $ 0.0 $ 52.9 $ 0.0 $ 52.9 $ 0.0
Total 32.8   (0.6) 176.2 3.6
Supply chain actions          
Restructuring Cost and Reserve [Line Items]          
Supply chain actions 25.1   0.0 75.4 0.0
Charges (recoveries) associated with restructuring and transformation actions previously announced 25.1     75.4  
Charges (recoveries) associated with restructuring and transformation actions previously announced          
Restructuring Cost and Reserve [Line Items]          
Charges (recoveries) associated with restructuring and transformation actions previously announced $ 7.7   $ (0.6) $ 47.9 $ 3.6
v3.26.1
Restructuring, Transformation, Impairment, and Other Exit Costs - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Feb. 22, 2026
Nov. 23, 2025
Feb. 23, 2025
Feb. 22, 2026
Feb. 23, 2025
Restructuring Cost and Reserve [Line Items]          
Payments for restructuring       $ 67.1 $ 7.0
Impairment of intangible assets, indefinite-lived (excluding goodwill) $ 0.0 $ 52.9 $ 0.0 52.9 0.0
Supply chain actions          
Restructuring Cost and Reserve [Line Items]          
Charges (recoveries) associated with restructuring and transformation actions previously announced 25.1     75.4  
Expected restructuring charges 96.0     96.0  
Expected restructuring charges, cash 28.0     28.0  
Charges (recoveries) associated with restructuring and transformation actions previously announced          
Restructuring Cost and Reserve [Line Items]          
Charges (recoveries) associated with restructuring and transformation actions previously announced 7.7   $ (0.6) 47.9 $ 3.6
Asset Write-Offs | Supply chain actions          
Restructuring Cost and Reserve [Line Items]          
Expected restructuring charges 66.0     66.0  
Other Costs | Supply chain actions          
Restructuring Cost and Reserve [Line Items]          
Expected restructuring charges $ 30.0     $ 30.0  
v3.26.1
Restructuring, Transformation, Impairment, and Other Exit Costs - Schedule of Restructuring, Impairment Charges and Project-Related Costs (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Feb. 22, 2026
Feb. 23, 2025
Feb. 22, 2026
Feb. 23, 2025
Restructuring Cost and Reserve [Line Items]        
Total restructuring, transformation, and impairment charges (recoveries) $ 32.8 $ (0.6) $ 176.2 $ 3.6
Restructuring, transformation, impairment, and other exit costs (recoveries)        
Restructuring Cost and Reserve [Line Items]        
Total restructuring, transformation, and impairment charges (recoveries) 24.4 (0.8) 162.8 2.6
Cost of sales        
Restructuring Cost and Reserve [Line Items]        
Total restructuring, transformation, and impairment charges (recoveries) $ 8.4 $ 0.2 $ 13.4 $ 1.0
v3.26.1
Restructuring, Transformation, Impairment, and Other Exit Costs - Schedule of Restructuring, Transformation, and Other Exit Cost Reserves, Included in Other Current Liabilities (Details) - USD ($)
$ in Millions
 9 Months Ended
Feb. 22, 2026
Feb. 23, 2025
Restructuring Reserve [Roll Forward]    
Utilized in fiscal 2026 $ (67.1) $ (7.0)
Employee Severance    
Restructuring Reserve [Roll Forward]    
Reserve, opening balance 77.1  
Fiscal 2026 charges, including foreign currency translation 4.7  
Utilized in fiscal 2026 (28.8)  
Reserve, ending balance $ 53.0  
v3.26.1
Goodwill and Other Intangible Assets - Components of Goodwill and Other Intangible Assets (Details) - USD ($)
$ in Millions
Feb. 22, 2026
May 25, 2025
Goodwill and Intangible Assets Disclosure [Abstract]    
Goodwill $ 15,634.4 $ 15,622.4
Intangible assets not subject to amortization:    
Brands 6,780.2 6,816.7
Intangible assets subject to amortization:    
Customer relationships and other finite-lived intangibles 421.3 420.9
Less accumulated amortization (171.4) (156.2)
Intangible assets subject to amortization, net 249.9 264.7
Other intangible assets 7,030.1 7,081.4
Total $ 22,664.5 $ 22,703.8
v3.26.1
Goodwill and Other Intangible Assets - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Feb. 22, 2026
Nov. 23, 2025
Feb. 23, 2025
Feb. 22, 2026
Feb. 23, 2025
Goodwill and Intangible Assets Disclosure [Abstract]          
Finite-lived intangible asset, expected amortization, year one $ 20.0     $ 20.0  
Finite-lived intangible asset, expected amortization, year two 20.0     20.0  
Finite-lived intangible asset, expected amortization, year three 20.0     20.0  
Finite-lived intangible asset, expected amortization, year four 20.0     20.0  
Finite-lived intangible asset, expected amortization, year five 20.0     20.0  
Impairment of intangible assets, indefinite-lived (excluding goodwill) $ 0.0 $ 52.9 $ 0.0 $ 52.9 $ 0.0
v3.26.1
Goodwill and Other Intangible Assets - Changes in Carrying Amount of Goodwill (Details) - USD ($)
$ in Millions
 9 Months Ended
Feb. 22, 2026
May 25, 2025
Goodwill [Roll Forward]    
Beginning balance $ 15,622.4  
Divestiture (4.9)  
Purchase accounting adjustments (31.9)  
Other activity, primarily foreign currency translation 48.8  
Ending balance 15,634.4  
Corporate and Joint Ventures    
Goodwill [Roll Forward]    
Beginning balance 442.2  
Purchase accounting adjustments 0.0  
Other activity, primarily foreign currency translation 15.4  
Ending balance 457.6  
Corporate and Reconciling Items    
Goodwill [Roll Forward]    
Divestiture 0.0  
North America Retail | Operating Segments    
Goodwill [Roll Forward]    
Beginning balance 6,323.5  
Divestiture (4.7)  
Purchase accounting adjustments 0.0  
Other activity, primarily foreign currency translation 0.3  
Ending balance 6,319.1  
North America Pet | Operating Segments    
Goodwill [Roll Forward]    
Beginning balance 7,149.5  
Divestiture 0.0  
Purchase accounting adjustments (31.9)  
Other activity, primarily foreign currency translation 0.0  
Ending balance 7,117.6  
North America Foodservice | Operating Segments    
Goodwill [Roll Forward]    
Beginning balance 755.5  
Divestiture (0.2)  
Purchase accounting adjustments 0.0  
Other activity, primarily foreign currency translation 0.0  
Ending balance 755.3  
International | Operating Segments    
Goodwill [Roll Forward]    
Beginning balance 951.7  
Divestiture 0.0  
Purchase accounting adjustments 0.0  
Other activity, primarily foreign currency translation 33.1  
Ending balance 984.8  
Accumulated impairment losses $ 117.1 $ 117.1
v3.26.1
Goodwill and Other Intangible Assets - Changes in Carrying Amount of Other Intangible Assets (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Feb. 22, 2026
Nov. 23, 2025
Feb. 23, 2025
Feb. 22, 2026
Feb. 23, 2025
Indefinite-Lived Intangible Assets [Roll Forward]          
Beginning balance - carrying value       $ 7,081.4  
Impairment charge $ 0.0 $ (52.9) $ 0.0 (52.9) $ 0.0
Other activity, primarily foreign currency translation and amortization       1.6  
Ending balance - carrying value $ 7,030.1     $ 7,030.1  
v3.26.1
Inventories (Details) - USD ($)
$ in Millions
Feb. 22, 2026
May 25, 2025
Inventory Disclosure [Abstract]    
Finished goods $ 1,755.7 $ 1,883.9
Raw materials and packaging 493.9 460.0
Grain 107.2 112.5
Excess of FIFO over LIFO cost (601.1) (545.6)
Total $ 1,755.7 $ 1,910.8
v3.26.1
Risk Management Activities - Schedule of Unallocated Corporate Items (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Feb. 22, 2026
Feb. 23, 2025
Feb. 22, 2026
Feb. 23, 2025
Investments, All Other Investments [Abstract]        
Net gain (loss) on mark-to-market valuation of certain commodity positions $ 14.7 $ 16.0 $ 9.4 $ (18.3)
Net loss on commodity positions reclassified from unallocated corporate items to segment operating profit 1.8 7.3 1.6 43.6
Net mark-to-market revaluation of certain grain inventories 0.7 (0.1) 1.7 (1.5)
Net mark-to-market valuation of certain commodity positions recognized in unallocated corporate items $ 17.2 $ 23.2 $ 12.7 $ 23.8
v3.26.1
Risk Management Activities - Narrative (Details)
€ in Millions, $ in Millions
 3 Months Ended 9 Months Ended
May 25, 2025
EUR (€)
Nov. 24, 2024
USD ($)
Feb. 22, 2026
USD ($)
Feb. 23, 2025
USD ($)
Feb. 22, 2026
EUR (€)
May 25, 2025
USD ($)
May 25, 2025
EUR (€)
Derivative [Line Items]              
Issuance of long-term debt     $ 0.0 $ 1,500.0      
Accounts payable to suppliers who utilize third party service     $ 1,380.5     $ 1,427.5  
Supplier Finance Program, Obligation, Statement of Financial Position [Extensible Enumeration]     Accounts payable   Accounts payable Accounts payable Accounts payable
Euro Denominated Bonds Used For Hedging              
Derivative [Line Items]              
Long-term debt, carrying value | €         € 3,645.1    
Fixed-rate notes due April 17, 2032              
Derivative [Line Items]              
Issuance of long-term debt | € € 750.0            
Fixed-rate notes due April 17, 2032 | Interest Rate Swap              
Derivative [Line Items]              
Pay-floating swaps - notional amount | €             € 750.0
Issuance of long-term debt | € € 750.0            
5.25% Fixed-rate notes due January 30, 2035              
Derivative [Line Items]              
Issuance of long-term debt   $ 750.0          
5.241% Fixed-rate notes due January 30, 2030              
Derivative [Line Items]              
Issuance of long-term debt   750.0          
5.241% Fixed-rate notes due January 30, 2030 | Interest Rate Swap              
Derivative [Line Items]              
Pay-floating swaps - notional amount   750.0          
Issuance of long-term debt   750.0          
Fixed rate notes due November 18, 2025 | Interest Rate Swap              
Derivative [Line Items]              
Pay-floating swaps - notional amount   500.0          
Issuance of long-term debt   500.0          
Commodity Contract              
Derivative [Line Items]              
Pay-floating swaps - notional amount     $ 140.5        
Average period of utilization     12 months        
Agricultural Related Derivative              
Derivative [Line Items]              
Pay-floating swaps - notional amount     $ 58.4        
Energy Related Derivative              
Derivative [Line Items]              
Pay-floating swaps - notional amount     $ 82.1        
Treasury Lock              
Derivative [Line Items]              
Settled amount   350.0          
Gain recognized into AOCI   $ 0.1          
v3.26.1
Debt - Schedule of Components of Notes Payable (Details) - USD ($)
$ in Millions
Feb. 22, 2026
May 25, 2025
Short-Term Debt [Line Items]    
Notes Payable $ 837.3 $ 677.0
Weighted- Average Interest Rate 3.70% 4.50%
U.S. commercial paper    
Short-Term Debt [Line Items]    
Notes Payable $ 832.6 $ 669.4
Weighted- Average Interest Rate 3.70% 4.50%
Financial institutions    
Short-Term Debt [Line Items]    
Notes Payable $ 4.7 $ 7.6
Weighted- Average Interest Rate 4.00% 5.80%
v3.26.1
Debt - Schedule of Fee-Paid Committed and Uncommitted Credit Lines (Details)
$ in Millions
Feb. 22, 2026
USD ($)
Line of Credit Facility [Line Items]  
Borrowing Capacity $ 3,476.8
Borrowed Amount 4.7
Committed credit facility expiring October 2029  
Line of Credit Facility [Line Items]  
Borrowing Capacity 2,700.0
Borrowed Amount 0.0
Uncommitted credit facilities and lines of credit  
Line of Credit Facility [Line Items]  
Borrowing Capacity 776.8
Borrowed Amount $ 4.7
v3.26.1
Debt - Narrative (Details)
€ in Millions, $ in Millions
 3 Months Ended 9 Months Ended
Feb. 22, 2026
EUR (€)
Nov. 23, 2025
EUR (€)
May 25, 2025
USD ($)
May 25, 2025
EUR (€)
Feb. 23, 2025
USD ($)
Nov. 24, 2024
USD ($)
Nov. 24, 2024
EUR (€)
Feb. 22, 2026
USD ($)
Feb. 23, 2025
USD ($)
Debt Instrument [Line Items]                  
Repayments of debt               $ 1,279.7 $ 500.0
Issuance of long-term debt               0.0 $ 1,500.0
Fair Value, Inputs, Level 2                  
Debt Instrument [Line Items]                  
Fair value and carrying value of long term debt               12,848.4  
Long-term debt, carrying value               $ 13,130.4  
Fixed-rate notes due January 15, 2026                  
Debt Instrument [Line Items]                  
Repayments of debt | € € 600.0                
Fixed interest rate percentage               0.45%  
Fixed-rate notes due November 15, 2025                  
Debt Instrument [Line Items]                  
Repayments of debt | €   € 500.0              
Fixed interest rate percentage   0.125%              
Fixed-rate notes due April 17, 2032                  
Debt Instrument [Line Items]                  
Fixed interest rate percentage     3.60% 3.60%          
Issuance of long-term debt | €       € 750.0          
Fixed-rate notes due April 17, 2025                  
Debt Instrument [Line Items]                  
Repayments of debt     $ 800.0            
Fixed interest rate percentage     4.00% 4.00%          
5.241% Fixed-rate notes due November 18, 2025                  
Debt Instrument [Line Items]                  
Repayments of debt         $ 500.0        
Fixed interest rate percentage         5.241%       5.241%
5.241% Fixed-rate notes due January 30, 2030                  
Debt Instrument [Line Items]                  
Fixed interest rate percentage           4.875% 4.875%    
Issuance of long-term debt           $ 750.0      
5.25% Fixed-rate notes due January 30, 2035                  
Debt Instrument [Line Items]                  
Fixed interest rate percentage           5.25% 5.25%    
Issuance of long-term debt           $ 750.0      
Floating-rate notes due April 22, 2026                  
Debt Instrument [Line Items]                  
Issuance of long-term debt | €             € 250.0    
Floating-rate notes due November 8, 2024 - Repayment 1                  
Debt Instrument [Line Items]                  
Repayments of debt | €             250.0    
Floating-rate notes due October 22, 2026                  
Debt Instrument [Line Items]                  
Issuance of long-term debt | €             500.0    
Floating-rate notes due November 8, 2024 - Repayment 2                  
Debt Instrument [Line Items]                  
Repayments of debt | €             € 500.0    
Committed Credit Facilities                  
Debt Instrument [Line Items]                  
Minimum fixed charge coverage ratio               2.5  
v3.26.1
Noncontrolling Interest (Details) - General Mills Cereals LLC - Third Party Interest Holder - USD ($)
$ in Millions
 3 Months Ended
Jun. 01, 2024
May 25, 2025
Noncontrolling Interest [Line Items]    
Noncontrolling interest, decrease from redemptions or purchase of interests   $ 252.8
Basis points 2.61%  
v3.26.1
Stockholders' Equity - Schedule of Total Comprehensive Income (Loss) (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Feb. 22, 2026
Nov. 23, 2025
Feb. 23, 2025
Feb. 22, 2026
Feb. 23, 2025
Accumulated Other Comprehensive Income (Loss) [Line Items]          
Net earnings, including earnings attributable to noncontrolling interests $ 305.5   $ 631.0 $ 1,923.8 $ 2,016.9
Pretax          
Foreign currency translation 0.0   33.9 0.0 33.9
Net          
Net actuarial gain (loss) 3.8   0.0 (3.7) 0.0
Other comprehensive income, net of tax 28.3   49.4 1.1 44.5
Total comprehensive income 333.8   680.4 1,924.9 2,061.4
Defined Benefit Pension Plans          
Net          
Curtailment loss   $ 6.7   6.7 0.0
General Mills          
Accumulated Other Comprehensive Income (Loss) [Line Items]          
Net earnings, including earnings attributable to noncontrolling interests 303.1   625.6 1,920.3 2,001.2
Pretax          
Other comprehensive income (loss) 3.5   49.1 (30.5) 90.3
Tax          
Other comprehensive income (loss) 24.5   0.3 31.3 (45.0)
Net          
Other comprehensive income, net of tax 28.0   49.4 0.8 45.3
Total comprehensive income 331.1   675.0 1,921.1 2,046.5
Foreign currency translation          
Pretax          
Other comprehensive (loss) income (14.1)   2.5 (83.4) 9.5
Foreign currency translation 0.0   33.9 0.0 33.9
Tax          
Other comprehensive (loss) income 26.1   3.7 43.1 (35.6)
Foreign currency translation 0.0   0.0 0.0 0.0
Net          
Other comprehensive (loss) income 12.0   6.2 (40.3) (26.1)
Foreign currency translation 0.0   33.9 0.0 33.9
Net actuarial loss          
Pretax          
Net actuarial gain (loss) 3.8   0.0 (3.7) 0.0
Tax          
Net actuarial gain (loss) 0.0   0.0 0.0 0.0
Net          
Net actuarial gain (loss) 3.8   0.0 (3.7) 0.0
Hedge derivatives          
Pretax          
Other comprehensive (loss) income (1.4)   2.3 8.8 6.6
Reclassification to earnings 0.6   (3.7) (2.6) (2.9)
Tax          
Other comprehensive (loss) income (0.1)   (1.2) (2.2) (2.3)
Reclassification to earnings 1.7   0.7 1.0 1.6
Net          
Other comprehensive (loss) income (1.5)   1.1 6.6 4.3
Reclassification to earnings 2.3   (3.0) (1.6) (1.3)
Amortization of losses and prior service costs          
Pretax          
Reclassification to earnings 14.6   14.1 50.4 43.2
Tax          
Reclassification to earnings (3.2)   (2.9) (10.6) (8.7)
Net          
Reclassification to earnings 11.4   11.2 39.8 34.5
Noncontrolling Interests          
Accumulated Other Comprehensive Income (Loss) [Line Items]          
Net earnings, including earnings attributable to noncontrolling interests 2.4   5.4 3.5 15.7
Net          
Other comprehensive income, net of tax 0.3   0.0 0.3 (0.8)
Total comprehensive income 2.7   5.4 3.8 14.9
Foreign currency translation          
Net          
Other comprehensive (loss) income 0.3   0.0 0.3 (0.8)
Foreign currency translation 0.0   0.0 0.0 0.0
Net actuarial gain (loss)          
Net          
Net actuarial gain (loss) 0.0   0.0 0.0 0.0
Hedge derivatives          
Net          
Other comprehensive (loss) income 0.0   0.0 0.0 0.0
Reclassification to earnings 0.0   0.0 0.0 0.0
Amortization of losses and prior service costs          
Net          
Reclassification to earnings $ 0.0   $ 0.0 $ 0.0 $ 0.0
v3.26.1
Stockholders' Equity - Schedule of Accumulated Other Comprehensive Loss Balances, Net of Tax Effects (Details) - USD ($)
$ in Millions
Feb. 22, 2026
Nov. 23, 2025
May 25, 2025
Feb. 23, 2025
Nov. 24, 2024
May 26, 2024
Accumulated Other Comprehensive Income (Loss) [Line Items]            
Equity, including portion attributable to noncontrolling interest $ 9,357.0 $ 9,328.8 $ 9,211.2 $ 9,512.6 $ 9,449.2 $ 9,648.5
Accumulated other comprehensive loss            
Accumulated Other Comprehensive Income (Loss) [Line Items]            
Equity, including portion attributable to noncontrolling interest (2,544.2) $ (2,572.2) (2,545.0) $ (2,474.4) $ (2,523.8) $ (2,519.7)
Foreign currency translation adjustments            
Accumulated Other Comprehensive Income (Loss) [Line Items]            
Equity, including portion attributable to noncontrolling interest (917.0)   (876.7)      
Unrealized loss from hedge derivatives            
Accumulated Other Comprehensive Income (Loss) [Line Items]            
Equity, including portion attributable to noncontrolling interest (2.4)   (7.4)      
Net actuarial loss            
Accumulated Other Comprehensive Income (Loss) [Line Items]            
Equity, including portion attributable to noncontrolling interest (1,678.7)   (1,726.8)      
Prior service credits            
Accumulated Other Comprehensive Income (Loss) [Line Items]            
Equity, including portion attributable to noncontrolling interest $ 53.9   $ 65.9      
v3.26.1
Stock Plans - Schedule of Compensation Expense Related to Stock-Based Payments (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Feb. 22, 2026
Feb. 23, 2025
Feb. 22, 2026
Feb. 23, 2025
Share-Based Payment Arrangement [Abstract]        
Compensation expense related to stock-based payments $ 26.3 $ 20.5 $ 65.6 $ 67.1
Windfall (shortfall) tax benefits from stock-based payments $ 0.4 $ 1.1 $ (1.2) $ 5.9
v3.26.1
Stock Plans - Narrative (Details)
$ in Millions
 9 Months Ended
Feb. 22, 2026
USD ($)
Share-Based Payment Arrangement [Abstract]  
Unrecognized compensation expense related to non-vested stock options, restricted stock units, and performance share units $ 138.5
Unrecognized compensation expense on non-vested awards, weighted average period of recognition 24 months
v3.26.1
Stock Plans - Net Cash Proceeds and Intrinsic Value of Options Exercised (Details) - USD ($)
$ in Millions
 9 Months Ended
Feb. 22, 2026
Feb. 23, 2025
Share-Based Payment Arrangement [Abstract]    
Net cash proceeds $ 0.4 $ 38.4
Intrinsic value of options exercised $ 0.0 $ 11.0
v3.26.1
Stock Plans - Schedule of Estimated Fair Value of Stock Options Granted and Assumptions Used for Black-Scholes Option-Pricing Model (Details) - $ / shares
 9 Months Ended
Feb. 22, 2026
Feb. 23, 2025
Share-Based Payment Arrangement [Abstract]    
Estimated fair values of stock options granted (in usd per share) $ 9.45 $ 13.26
Assumptions:    
Risk-free interest rate 4.20% 4.50%
Expected term 8 years 8 years 6 months
Expected volatility 22.30% 21.60%
Dividend yield 4.70% 3.80%
v3.26.1
Stock Plans - Schedule of Grant Date Fair Value of Restricted Stock Unit Awards Activity (Details) - USD ($)
$ in Millions
 9 Months Ended
Feb. 22, 2026
Feb. 23, 2025
Share-Based Payment Arrangement [Abstract]    
Total grant date fair value $ 109.2 $ 111.3
v3.26.1
Earnings Per Share - Schedule of Basic and Diluted EPS (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 3 Months Ended 9 Months Ended
Feb. 22, 2026
Feb. 23, 2025
Feb. 22, 2026
Feb. 23, 2025
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]        
Net earnings attributable to General Mills $ 303.1 $ 625.6 $ 1,920.3 $ 2,001.2
Average number of common shares – basic EPS (in shares) 536.6 552.6 538.1 556.6
Average number of common shares - diluted EPS (in shares) 537.3 555.0 539.2 559.8
Earnings per share – basic (usd per share) $ 0.57 $ 1.14 $ 3.57 $ 3.60
Earnings per share – diluted (usd per share) $ 0.56 $ 1.12 $ 3.56 $ 3.57
Stock options        
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]        
Incremental share effect (in shares) 0.0 1.0 0.1 1.4
Restricted stock units and performance share units        
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]        
Incremental share effect (in shares) 0.7 1.4 1.0 1.8
v3.26.1
Earnings Per Share - Schedule of Stock Options and Restricted Units Not Dilutive (Details) - shares
shares in Millions
 3 Months Ended 9 Months Ended
Feb. 22, 2026
Feb. 23, 2025
Feb. 22, 2026
Feb. 23, 2025
Earnings Per Share [Abstract]        
Anti-dilutive stock options, restricted stock units, and performance share units (in shares) 12.4 5.3 11.6 4.7
v3.26.1
Share Repurchases - Schedule of Share Repurchases (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Feb. 22, 2026
Nov. 23, 2025
Feb. 23, 2025
Feb. 22, 2026
Feb. 23, 2025
Equity [Abstract]          
Shares of common stock (in shares) 0 1,300,000 4,800,000 10,000,000.0 13,500,000
Shares purchased $ 0.2   $ 304.4 $ 504.7 $ 909.6
v3.26.1
Share Repurchases - Narrative (Details) - USD ($)
$ / shares in Units, $ in Millions
 3 Months Ended 9 Months Ended
Feb. 22, 2026
Nov. 23, 2025
Aug. 24, 2025
Feb. 23, 2025
Feb. 22, 2026
Feb. 23, 2025
Equity, Class of Treasury Stock [Line Items]            
Accelerated share repurchases agreement value     $ 500.0      
Accelerated share repurchases, settlement (payment) or receipt     $ 500.0      
Shares of common stock (in shares) 0 1,300,000   4,800,000 10,000,000.0 13,500,000
Accelerated share repurchases (in usd per share)         $ 49.92  
Share Repurchase Program, Initial Delivery            
Equity, Class of Treasury Stock [Line Items]            
Shares of common stock (in shares)     7,500,000      
Share Repurchase Program, Final Delivery            
Equity, Class of Treasury Stock [Line Items]            
Shares of common stock (in shares)     1,200,000      
v3.26.1
Statements of Cash Flows (Details) - USD ($)
$ in Millions
 9 Months Ended
Feb. 22, 2026
Feb. 23, 2025
Supplemental Cash Flow Information [Abstract]    
Net cash interest payments $ 375.2 $ 302.2
Net income tax payments $ 346.6 $ 444.6
v3.26.1
Retirement and Postemployment Benefits - Components of Net Periodic Benefit Expense (Income) (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Feb. 22, 2026
Nov. 23, 2025
Feb. 23, 2025
Feb. 22, 2026
Feb. 23, 2025
Defined Benefit Pension Plans          
Defined Benefit Plan Disclosure [Line Items]          
Service cost $ 10.6   $ 12.9 $ 31.5 $ 38.8
Interest cost 72.8   76.6 218.5 230.0
Expected return on plan assets (101.3)   (104.9) (303.9) (314.9)
Amortization of losses (gains) 26.2   25.0 78.7 75.0
Amortization of prior service costs (credits) 0.3   0.3 0.9 1.0
Other adjustments 0.0   0.0 0.0 0.0
Curtailment loss (gain)   $ 6.7   6.7 0.0
Net expense (income) 8.6   9.9 32.4 29.9
Other Postretirement Benefit Plans          
Defined Benefit Plan Disclosure [Line Items]          
Service cost 0.6   1.0 1.8 3.2
Interest cost 4.2   5.3 12.6 15.9
Expected return on plan assets (8.4)   (9.0) (25.2) (26.9)
Amortization of losses (gains) (6.4)   (5.1) (19.4) (15.4)
Amortization of prior service costs (credits) (5.3)   (5.5) (15.9) (16.6)
Other adjustments 0.0   0.0 0.0 0.0
Curtailment loss (gain)       (0.5) 0.0
Net expense (income) (15.3)   (13.3) (46.6) (39.8)
Postemployment Benefit Plans          
Defined Benefit Plan Disclosure [Line Items]          
Service cost 1.8   1.8 5.2 5.3
Interest cost 0.8   1.0 2.6 3.0
Expected return on plan assets 0.0   0.0 0.0 0.0
Amortization of losses (gains) 0.1   (0.3) 0.2 0.0
Amortization of prior service costs (credits) (0.3)   (0.3) (0.8) (0.8)
Other adjustments 2.0   3.0 6.1 8.1
Curtailment loss (gain)       0.0 0.0
Net expense (income) $ 4.4   $ 5.2 $ 13.3 $ 15.6
v3.26.1
Business Segment and Geographic Information - Narrative (Details)
 9 Months Ended
Feb. 22, 2026
Segment Reporting [Abstract]  
Number of reportable segments not disclosed flag operating segments
v3.26.1
Business Segment and Geographic Information - Schedule of Operating Segment Results (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Feb. 22, 2026
Feb. 23, 2025
Feb. 22, 2026
Feb. 23, 2025
Segment Reporting Information [Line Items]        
Net sales $ 4,436.7 $ 4,842.2 $ 13,815.0 $ 14,930.4
Cost of sales 3,069.8 3,203.1 9,222.8 9,671.4
Selling, general, and administrative expenses 812.9 844.4 2,500.4 2,551.5
Operating profit 524.6 891.4 2,978.4 2,800.8
Divestitures loss (gain), net 5.0 (95.9) (1,049.4) (95.9)
Restructuring, transformation, impairment, and other exit costs (recoveries) 24.4 (0.8) 162.8 2.6
Operating Segments        
Segment Reporting Information [Line Items]        
Net sales 4,429.6 4,839.4 13,796.4 14,923.2
Operating profit 628.8 850.6 2,380.8 2,952.0
Corporate and Joint Ventures        
Segment Reporting Information [Line Items]        
Net sales 7.1 2.8 18.6 7.2
Operating profit 74.8 55.9 289.0 244.5
North America Retail | Operating Segments        
Segment Reporting Information [Line Items]        
Net sales 2,596.4 3,009.1 8,105.2 9,347.2
Cost of sales 1,758.9 1,926.5 5,218.1 5,786.8
Selling, general, and administrative expenses 401.4 434.5 1,204.5 1,304.3
Operating profit 436.1 648.1 1,682.6 2,256.1
North America Retail | Operating Segments | U.S. Meals & Baking Solutions        
Segment Reporting Information [Line Items]        
Net sales 1,091.8 1,130.4 3,326.0 3,404.6
North America Retail | Operating Segments | Big G Cereal & Canada        
Segment Reporting Information [Line Items]        
Net sales 743.4 1,060.7 2,389.8 3,371.0
North America Retail | Operating Segments | U.S. Snacks        
Segment Reporting Information [Line Items]        
Net sales 761.2 818.0 2,389.4 2,571.6
International | Operating Segments        
Segment Reporting Information [Line Items]        
Net sales 696.3 651.3 2,185.4 2,058.9
Cost of sales 526.7 493.6 1,606.8 1,562.4
Selling, general, and administrative expenses 136.0 139.7 450.9 433.8
Operating profit 33.6 18.0 127.7 62.7
North America Pet | Operating Segments        
Segment Reporting Information [Line Items]        
Net sales 640.5 623.7 1,910.9 1,795.6
Cost of sales 400.9 386.3 1,163.7 1,066.0
Selling, general, and administrative expenses 136.8 135.2 408.4 368.7
Operating profit 102.8 102.2 338.8 360.9
North America Foodservice | Operating Segments        
Segment Reporting Information [Line Items]        
Net sales 496.4 555.3 1,594.9 1,721.5
Cost of sales 397.9 430.7 1,233.7 1,318.4
Selling, general, and administrative expenses 42.2 42.3 129.5 130.8
Operating profit $ 56.3 $ 82.3 $ 231.7 $ 272.3
v3.26.1
Business Segment and Geographic Information - Schedule of Net Sales by Class of Similar Products (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Feb. 22, 2026
Feb. 23, 2025
Feb. 22, 2026
Feb. 23, 2025
Segment Reporting Information [Line Items]        
Net sales $ 4,436.7 $ 4,842.2 $ 13,815.0 $ 14,930.4
Snacks        
Segment Reporting Information [Line Items]        
Net sales 962.6 996.0 3,030.2 3,157.8
Cereal        
Segment Reporting Information [Line Items]        
Net sales 762.7 762.8 2,321.1 2,385.4
Convenient meals        
Segment Reporting Information [Line Items]        
Net sales 730.3 754.1 2,208.1 2,228.1
Pet        
Segment Reporting Information [Line Items]        
Net sales 678.1 651.7 2,019.8 1,880.1
Dough        
Segment Reporting Information [Line Items]        
Net sales 618.6 647.5 1,854.6 1,887.9
Baking mixes and ingredients        
Segment Reporting Information [Line Items]        
Net sales 476.1 467.5 1,480.1 1,501.8
Super-premium ice cream        
Segment Reporting Information [Line Items]        
Net sales 147.7 137.5 544.9 514.0
Yogurt        
Segment Reporting Information [Line Items]        
Net sales 0.0 333.1 102.0 1,082.8
Other        
Segment Reporting Information [Line Items]        
Net sales $ 60.6 $ 92.0 $ 254.2 $ 292.5