Conagra Brands (CAG) 10-Q 3 Oct 17 2018 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	3 Months Ended
	Aug. 27, 2017shares
Document and Entity Information [Abstract]
Entity Registrant Name	CONAGRA BRANDS INC.
Entity Central Index Key	23,217
Current Fiscal Year End Date	--05-28
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Aug. 27, 2017
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Common Stock, Shares Outstanding	408,498,132

Condensed Consolidated Statemen

Condensed Consolidated Statements of Earnings - USD ($) $ in Millions	3 Months Ended
	Aug. 27, 2017	Aug. 28, 2016
Income Statement [Abstract]
Net sales	$ 1,804.2	$ 1,895.6
Costs and expenses:
Cost of goods sold	1,285.2	1,351
Selling, general and administrative expenses	239	231.7
Interest expense, net	36.4	58.2
Income from continuing operations before income taxes and equity method investment earnings	243.6	254.7
Income tax expense	120	169.2
Equity method investment earnings	30	13.1
Income from continuing operations	153.6	98.6
Income (loss) from discontinued operations, net of tax	(0.3)	91.4
Net income	153.3	190
Less: Net income attributable to noncontrolling interests	0.8	3.8
Net income attributable to Conagra Brands, Inc.	$ 152.5	$ 186.2
Earnings per share — basic
Income from continuing operations attributable to Conagra Brands, Inc. common stockholders (in dollars per share)	$ 0.37	$ 0.22
Income from discontinued operations attributable to Conagra Brands, Inc. common stockholders (in dollars per share)	0	0.20
Net income attributable to Conagra Brands, Inc. common stockholders (in dollars per share)	0.37	0.42
Earnings per share — diluted
Income from continuing operations attributable to Conagra Brands, Inc. common stockholders (in dollars per share)	0.36	0.22
Income from discontinued operations attributable to Conagra Brands, Inc. common stockholders (in dollars per share)	0	0.20
Net income attributable to Conagra Brands, Inc. common stockholders (in dollars per share)	0.36	0.42
Cash dividends declared per common share (in dollars per share)	$ 0.2125	$ 0.25

Condensed Consolidated Stateme3

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended
	Aug. 27, 2017	Aug. 28, 2016
Net income
Pre-Tax Amount	$ 273.4	$ 408
Tax (Expense) Benefit	(120.1)	(218)
Net income	153.3	190
Unrealized derivative adjustments
Pre-Tax Amount	0	(8)
Tax (Expense) Benefit	0	3.1
After-Tax Amount	0	(4.9)
Unrealized gains on available-for-sale securities
Pre-Tax Amount	0.3	0.2
Tax (Expense) Benefit	(0.1)	(0.1)
After-Tax Amount	0.2	0.1
Unrealized currency translation gains (losses)
Pre-Tax Amount	32.6	(11.9)
Tax (Expense) Benefit	(0.1)	0.2
After-Tax Amount	32.5	(11.7)
Unrealized pension and post-employment benefit obligations
Pre-Tax Amount	0.1	(2.1)
Tax (Expense) Benefit	0	0.1
After-Tax Amount	0.1	(2)
Reclassification for pension and post-employment benefit obligations included in net income
Pre-Tax Amount	(0.1)	(0.9)
Tax (Expense) Benefit	0	0.3
After-Tax Amount	(0.1)	(0.6)
Comprehensive income
Pre-Tax Amount	306.3	385.3
Tax (Expense) Benefit	(120.3)	(214.4)
After-Tax Amount	186	170.9
Comprehensive income attributable to noncontrolling interests
Pre-Tax Amount	2	3.8
Tax (Expense) Benefit	(0.2)	(0.1)
After-Tax Amount	1.8	3.7
Comprehensive income attributable to Conagra Brands, Inc.
Pre-Tax Amount	304.3	381.5
Tax (Expense) Benefit	(120.1)	(214.3)
After-Tax Amount	$ 184.2	$ 167.2

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Aug. 27, 2017	May 28, 2017
Current assets
Cash and cash equivalents	$ 251.4	$ 251.4
Receivables, less allowance for doubtful accounts of $3.2 and $3.1	577.1	563.4
Inventories	1,068.8	934.2
Prepaid expenses and other current assets	188.5	228.7
Current assets held for sale	39.2	35.5
Total current assets	2,125	2,013.2
Property, plant and equipment	4,198.2	4,261.9
Less accumulated depreciation	(2,550.9)	(2,606.9)
Property, plant and equipment, net	1,647.3	1,655
Goodwill	4,301.7	4,301.1
Brands, trademarks and other intangibles, net	1,223.6	1,229.3
Other assets	827.5	790.6
Noncurrent assets held for sale	100.5	107.1
Total assets	10,225.6	10,096.3
Current liabilities
Notes payable	323.5	28.2
Current installments of long-term debt	198.7	199
Accounts payable	845.7	773.1
Accrued payroll	95.5	167.6
Other accrued liabilities	590.2	552.6
Total current liabilities	2,053.6	1,720.5
Senior long-term debt, excluding current installments	2,571.1	2,573.3
Subordinated debt	195.9	195.9
Other noncurrent liabilities	1,522.4	1,528.8
Total liabilities	6,343	6,018.5
Common stockholders' equity
Common stock of $5 par value, authorized 1,200,000,000 shares; issued 567,907,172	2,839.7	2,839.7
Additional paid-in capital	1,159.9	1,171.9
Retained earnings	4,312.6	4,247
Accumulated other comprehensive loss	(181.2)	(212.9)
Less treasury stock, at cost, 159,409,040 and 151,387,209 common shares	(4,337.2)	(4,054.9)
Total Conagra Brands, Inc. common stockholders' equity	3,793.8	3,990.8
Noncontrolling interests	88.8	87
Total stockholders' equity	3,882.6	4,077.8
Total liabilities and stockholders' equity	$ 10,225.6	$ 10,096.3

Condensed Consolidated Balance5

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Aug. 27, 2017	May 28, 2017
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 3.2	$ 3.1
Common stock, par value (in dollars per share)	$ 5	$ 5
Common stock, authorized (in shares)	1,200,000,000	1,200,000,000
Common stock, issued (in shares)	567,907,172	567,907,172
Treasury stock (in shares)	159,409,040	151,387,209

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Aug. 27, 2017	Aug. 28, 2016
Cash flows from operating activities:
Net income	$ 153.3	$ 190
Income (loss) from discontinued operations	(0.3)	91.4
Income from continuing operations	153.6	98.6
Adjustments to reconcile income from continuing operations to net cash flows from operating activities:
Depreciation and amortization	64.7	67.2
Asset impairment charges	6	164.1
Gain on divestitures	0	(198.2)
Earnings of affiliates in excess of distributions	(30)	(6.9)
Stock-settled share-based payments expense	8.2	7.5
Contributions to pension plans	(3.8)	(3)
Pension benefit	(12.6)	(10.4)
Other items	5.5	11.7
Change in operating assets and liabilities excluding effects of business acquisitions and dispositions:
Receivables	(13.7)	14.8
Inventories	(138.4)	(83.3)
Deferred income taxes and income taxes payable, net	132.1	215.3
Prepaid expenses and other current assets	(6.5)	(4.8)
Accounts payable	67.8	56.5
Accrued payroll	(72.1)	(121.2)
Other accrued liabilities	(19.3)	0.4
Net cash flows from operating activities — continuing operations	141.5	208.3
Net cash flows from operating activities — discontinued operations	(5.5)	117.6
Net cash flows from operating activities	136	325.9
Cash flows from investing activities:
Additions to property, plant and equipment	(42.6)	(58.1)
Sale of property, plant and equipment	4	2
Proceeds from divestitures	0	486.3
Net cash flows from investing activities — continuing operations	(38.6)	430.2
Net cash flows from investing activities — discontinued operations	0	(58.3)
Net cash flows from investing activities	(38.6)	371.9
Cash flows from financing activities:
Net short-term borrowings	295.3	(3.3)
Repayment of long-term debt	(2.3)	(553.9)
Payment of intangible asset financing arrangement	(14.4)	(14.9)
Repurchase of Conagra Brands, Inc. common shares	(300)	(85.6)
Cash dividends paid	(83.3)	(109.5)
Exercise of stock options and issuance of other stock awards, including tax withholdings	(2.4)	32.6
Net cash flows from financing activities — continuing operations	(107.1)	(734.6)
Net cash flows from financing activities — discontinued operations	0	(3.1)
Net cash flows from financing activities	(107.1)	(737.7)
Effect of exchange rate changes on cash and cash equivalents	9.7	0
Net change in cash and cash equivalents	0	(39.9)
Add: Cash balance included in assets held for sale and discontinued operations at beginning of period	0	36.4
Less: Cash balance included in assets held for sale and discontinued operations at end of period	0	72.4
Cash and cash equivalents at beginning of period	251.4	798.1
Cash and cash equivalents at beginning of period	$ 251.4	$ 722.2

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Aug. 27, 2017
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The unaudited financial information reflects all adjustments, which are, in the opinion of management, necessary for a fair presentation of the results of operations, financial position, and cash flows for the periods presented. The adjustments are of a normal recurring nature, except as otherwise noted. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes included in the Conagra Brands, Inc. (formerly ConAgra Foods, Inc., the "Company", "we", "us", or "our") Annual Report on Form 10-K for the fiscal year ended May 28, 2017 . The results of operations for any quarter or a partial fiscal year period are not necessarily indicative of the results to be expected for other periods or the full fiscal year. Basis of Consolidation — The condensed consolidated financial statements include the accounts of Conagra Brands, Inc. and all majority-owned subsidiaries. In addition, the accounts of all variable interest entities for which we have been determined to be the primary beneficiary are included in our condensed consolidated financial statements from the date such determination is made. All significant intercompany investments, accounts, and transactions have been eliminated. On November 9, 2016, the Company completed the spinoff of Lamb Weston Holdings, Inc. ("Lamb Weston") through a distribution of 100% of the Company's interest in Lamb Weston to holders of shares of the Company's common stock as of November 1, 2016 (the "Spinoff"). In accordance with U.S. generally accepted accounting principles ("U.S. GAAP"), the results of operations of the Lamb Weston operations are presented as discontinued operations and, as such, have been excluded from continuing operations and segment results for all periods presented (see Note 3 for additional discussion). Comprehensive Income — Comprehensive income includes net income, currency translation adjustments, certain derivative-related activity, changes in the value of available-for-sale investments, and changes in prior service cost and net actuarial gains (losses) from pension (for amounts not in excess of the 10% corridor) and post-retirement health care plans. On foreign investments we deem to be essentially permanent in nature, we do not provide for taxes on currency translation adjustments arising from converting an investment denominated in foreign currency to U.S. dollars. When we determine that a foreign investment, as well as undistributed earnings, are no longer permanent in nature, estimated taxes will be provided for the related deferred tax liability (asset), if any, resulting from currency translation adjustments. The following table details the accumulated balances for each component of other comprehensive income (loss), net of tax: August 27, 2017 May 28, 2017 Currency translation losses, net of reclassification adjustments $ (67.1 ) $ (98.6 ) Derivative adjustments, net of reclassification adjustments (1.1 ) (1.1 ) Unrealized losses on available-for-sale securities (0.1 ) (0.3 ) Pension and post-employment benefit obligations, net of reclassification adjustments (112.9 ) (112.9 ) Accumulated other comprehensive loss $ (181.2 ) $ (212.9 ) The following table summarizes the reclassifications from accumulated other comprehensive income (loss) into operations: Thirteen weeks ended Affected Line Item in the Condensed Consolidated Statement of Earnings 1 August 27, 2017 August 28, 2016 Pension and postretirement liabilities: Net prior service benefit $ (0.1 ) $ (0.9 ) Selling, general and administrative expenses (0.1 ) (0.9 ) Total before tax — 0.3 Income tax expense $ (0.1 ) $ (0.6 ) Net of tax 1 Amounts in parentheses indicate income recognized in the Condensed Consolidated Statements of Earnings. Cash and cash equivalents — Cash and all highly liquid investments with an original maturity of three months or less at the date of acquisition, including short-term time deposits and government agency and corporate obligations, are classified as cash and cash equivalents. Reclassifications and other changes — Certain prior year amounts have been reclassified to conform with current year presentation. Use of Estimates — Preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions. These estimates and assumptions affect reported amounts of assets, liabilities, revenues, and expenses as reflected in the condensed consolidated financial statements. Actual results could differ from these estimates. Accounting Changes — In July 2015, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2015-11, Inventory , which requires an entity to measure inventory within the scope at the lower of cost and net realizable value. Net realizable value is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. We adopted this ASU prospectively in fiscal 2018. The adoption of this guidance did not have a material impact to our financial statements. Recently Issued Accounting Standards — In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers , which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The ASU will replace most existing revenue recognition guidance in U.S. GAAP. On July 9, 2015, the FASB deferred the effective date of the new revenue recognition standard by one year. Based on the FASB's ASU, we will apply the new revenue standard in our fiscal year 2019. Early adoption in our fiscal year 2018 is permitted. We are in the process of documenting the impact of the guidance on our current accounting policies and practices in order to identify material differences, if any, that would result from applying the new requirements to our revenue contracts. We continue to make progress on our revenue recognition review and are also in the process of evaluating the impact, if any, on changes to our business processes, systems, and controls to support recognition and disclosure requirements under the new guidance. We continue to evaluate the effect that ASU 2014-09 will have on our consolidated financial statements and related disclosures. The standard permits the use of either the retrospective or cumulative effect transition method. In January 2016, the FASB issued ASU 2016-01, Financial Instruments-Overall: Recognition and Measurement of Financial Assets and Financial Liabilities , which addresses certain aspects of recognition, measurement, presentation, and disclosure of financial instruments. The effective date for this standard is for fiscal years beginning after December 31, 2017. Early adoption is not permitted except for certain provisions. We do not expect ASU 2016-01 to have a material impact to our consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, Leases , Topic 842, which requires lessees to reflect most leases on their balance sheet as assets and obligations. The effective date for the standard is for fiscal years beginning after December 15, 2018. Early adoption is permitted. We are evaluating the effect that this standard will have on our consolidated financial statements and related disclosures. The standard is to be applied under the modified retrospective method, with elective reliefs, which requires application of the new guidance for all periods presented. In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows: Classification of Certain Cash Receipts and Cash Payments , which clarifies how companies present and classify certain cash receipts and cash payments in the statement of cash flows. The effective date for the standard is for fiscal years beginning after December 15, 2017. Early adoption is permitted. We do not expect ASU 2016-15 to have a material impact to our consolidated financial statements. In November 2016, the FASB issued ASU 2016-18, Statement of Cash Flows: Restricted Cash , which provides amendments to current guidance to address the classifications and presentation of changes in restricted cash in the statement of cash flows. The effective date for the standard is for fiscal years beginning after December 15, 2017. Early adoption is permitted. We do not expect ASU 2016-18 to have a material impact to our consolidated financial statements. In January 2017, the FASB issued ASU 2017-01, Business Combinations: Clarifying the Definition of a Business , which provides a new framework for determining whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The effective date for the standard is for fiscal years beginning after December 15, 2017. Early adoption is permitted. We do not expect ASU 2017-01 to have a material impact to our consolidated financial statements. In March 2017, the FASB issued ASU 2017-07, Retirement Benefits: Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost , which requires companies to present the service cost component of net benefit cost in the same line items in which they report compensation cost. Companies will present all other components of net benefit cost outside operating income, if this subtotal is presented. The effective date for the standard is for fiscal years beginning after December 15, 2017. Early adoption is permitted. We do not expect ASU 2017-07 to have a material impact to our financial statements. In August 2017, the FASB issued ASU 2017-12, Derivatives and Hedging: Targeted Improvements to Accounting for Hedging Activities , which improves the financial reporting of hedging relationships to better portray the economic results of an entity's risk management activities in its financial statements and make certain targeted improvements to simplify the application of the hedge accounting guidance in current GAAP. The amendments in this update better align an entity's risk management activities and financial reporting for hedging relationships through changes to both the designation and measurement guidance for qualifying hedging relationships and presentation of hedge results. The effective date for the standard is for fiscal years beginning after December 15, 2018. Early adoption is permitted. We are currently evaluating the impact of our pending adoption of this standard on our consolidated financial statements.

ACQUISITIONS

ACQUISITIONS	3 Months Ended
	Aug. 27, 2017
Business Combinations [Abstract]
ACQUISITIONS	ACQUISITIONS In April 2017, we acquired protein-based snacking businesses Thanasi Foods LLC, maker of Duke's ® meat snacks, and BIGS LLC, maker of BIGS ® seeds, for $217.6 million in cash, net of cash acquired. Approximately $133.4 million has been classified as goodwill of which $70.9 million is deductible for income tax purposes. Approximately $81.2 million of the purchase price has been allocated to other intangible assets. These businesses are included in the Grocery & Snacks segment. In September 2016, we acquired the operating assets of Frontera Foods, Inc. and Red Fork LLC, including the Frontera ® , Red Fork ® , and Salpica ® brands. These businesses make authentic, gourmet Mexican food products and contemporary American cooking sauces. We acquired the businesses for $108.1 million in cash, net of cash acquired. Approximately $39.5 million has been classified as goodwill and $66.7 million has been classified as other intangible assets. The amount allocated to goodwill is deductible for tax purposes. These businesses are reflected principally within the Grocery & Snacks segment, and to a lesser extent within the Refrigerated & Frozen and International segments. These acquisitions collectively contributed $31.0 million to net sales during the first quarter of fiscal 2018. For each of these acquisitions, the amounts allocated to goodwill were primarily attributable to anticipated synergies, product portfolios, and other intangibles that do not qualify for separate recognition. Under the acquisition method of accounting, the assets acquired and liabilities assumed in these acquisitions were recorded at their respective estimated fair values at the date of acquisition. Subsequent to the end of the first quarter of fiscal 2018, we entered into a definitive agreement to acquire Angie's Artisan Treats, LLC, maker of Angie's ® BOOMCHICKAPOP ® ready-to-eat popcorn, for a cash purchase price of $250 million , net of cash acquired and subject to working capital adjustments. The business will be primarily included in the Grocery & Snacks segment. The transaction is expected to close by the end of the calendar year, subject to customary closing conditions, including the receipt of any applicable regulatory approvals.

DISCONTINUED OPERATIONS AND OTH

DISCONTINUED OPERATIONS AND OTHER DIVESTITURES	3 Months Ended
	Aug. 27, 2017
Discontinued Operations and Disposal Groups [Abstract]
DISCONTINUED OPERATIONS AND OTHER DIVESTITURES	DISCONTINUED OPERATIONS AND OTHER DIVESTITURES Lamb Weston Spinoff On November 9, 2016, we completed the Spinoff of our Lamb Weston business. As of such date, we did not beneficially own any equity interest in Lamb Weston and no longer consolidated Lamb Weston into our financial results. The business results were previously reported in the Commercial segment. We reflected the results of this business as discontinued operations for all periods presented. The summary comparative financial results of the Lamb Weston business through the date of the Spinoff, included within discontinued operations, were as follows: Thirteen Weeks Ended August 27, 2017 August 28, 2016 Net sales $ — $ 771.9 Income (loss) from discontinued operations before income taxes and equity method investment earnings $ (0.3 ) $ 128.8 Income (loss) before income taxes and equity method investment earnings (0.3 ) 128.8 Income tax expense (benefit) (0.1 ) 49.5 Equity method investment earnings — 10.6 Income (loss) from discontinued operations, net of tax (0.2 ) 89.9 Less: Net income attributable to noncontrolling interests — 3.6 Net income (loss) from discontinued operations attributable to Conagra Brands, Inc. $ (0.2 ) $ 86.3 For the first quarter of fiscal 2017 , we incurred $9.8 million of expenses in connection with the Spinoff primarily related to professional fees and contract services associated with preparation of regulatory filings and separation activities. These expenses are reflected in income from discontinued operations. In connection with the Spinoff, total assets of $2.28 billion and total liabilities of $2.98 billion (including debt of $2.46 billion ) were transferred to Lamb Weston. As part of the consideration for the Spinoff, the Company received a cash payment from Lamb Weston in the amount of $823.5 million . See Note 5 for discussion of the debt-for-debt exchange related to the Spinoff. We entered into a transition services agreement in connection with the Lamb Weston Spinoff and recognized $1.3 million of income for the performance of services during the first quarter of fiscal 2018 , classified within selling, general and administrative expenses. Private Brands Operations On February 1, 2016, pursuant to the Stock Purchase Agreement, dated as of November 1, 2015, we completed the disposition of our Private Brands operations to TreeHouse Foods, Inc. for $2.6 billion in cash on a debt-free basis. Included within discontinued operations for the first quarter of fiscal 2018 was an after-tax loss of $0.1 million ( $0.1 million pre-tax gain) related to the Private Brands operations. The first quarter of fiscal 2017 included after-tax income of $1.5 million ( $0.8 million pre-tax). We entered into a transition services agreement with TreeHouse Foods, Inc. and recognized $ 1.7 million and $ 6.1 million of income for the performance of services during the first quarter of fiscal 2018 and 2017 , respectively, classified within selling, general and administrative expenses. Other Divestitures During the fourth quarter of fiscal 2017, we announced the agreement to sell our Wesson ® oil business, which is part of our Grocery & Snacks segment, to The J.M. Smucker Company ("Smucker"). The transaction is subject to certain customary closing conditions, including the termination or expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (the "HSR Act"). On August 28, 2017, Smucker and the Company each received a request for additional information under the HSR Act (a "second request") from the U.S. Federal Trade Commission ("FTC") in connection with the FTC's review of the transaction. Issuance of the second request extends the waiting period under the HSR Act until 30 days after both the Company and Smucker have substantially complied with the request, unless the waiting period is terminated earlier by the FTC. The agreement for the sale of the Wesson oil business provides that, unless otherwise agreed upon by the Company and Smucker, if the closing of the transaction has not occurred on or prior to March 31, 2018 because HSR approval has not been received as of such date, then either party may terminate the agreement. The parties are cooperating fully with the FTC as it conducts its review of the transaction. We expect to realize net proceeds of approximately $285 million from the sale. The assets of this business have been reclassified as assets held for sale within our Condensed Consolidated Balance Sheets for all periods presented. The assets classified as held for sale reflected in our Condensed Consolidated Balance Sheets related to the Wesson ® oil business were as follows: August 27, 2017 May 28, 2017 Current assets $ 39.2 $ 35.5 Noncurrent assets (including goodwill of $74.5 million) 95.5 95.5 During the first quarter of fiscal 2017, we completed the sales of our Spicetec Flavors & Seasonings business ("Spicetec") and our JM Swank business, each of which was part of our Commercial segment, for $327.0 million and $159.3 million , respectively, in cash, net of cash included in the dispositions. We received an additional $2.7 million in the third quarter of fiscal 2017 related to working capital adjustments. We recognized pre-tax gains from the sales of $145.0 million and $53.2 million , respectively, in the first quarter of fiscal 2017. In addition, we are actively marketing certain other long-lived assets. These assets have been reclassified as assets held for sale within our Condensed Consolidated Balance Sheets for all periods presented. The balance of these noncurrent assets classified as held for sale was $5.0 million and $11.6 million within our Corporate segment at August 27, 2017 and May 28, 2017 , respectively.

RESTRUCTURING ACTIVITIES

RESTRUCTURING ACTIVITIES	3 Months Ended
	Aug. 27, 2017
Restructuring and Related Activities [Abstract]
RESTRUCTURING ACTIVITIES	RESTRUCTURING ACTIVITIES Supply Chain and Administrative Efficiency Plan In May 2013, we announced the Supply Chain and Administrative Efficiency Plan (the "SCAE Plan"), our plan to integrate and restructure the operations of our Private Brands business, improve selling, general and administrative ("SG&A") effectiveness and efficiencies, and optimize our supply chain network, manufacturing assets, dry distribution centers, and mixing centers. In the second quarter of fiscal 2016, we announced plans to realize efficiency benefits by reducing SG&A expenses and enhancing trade spend processes and tools, which plans were included as part of the SCAE Plan. Although we divested the Private Brands business, we have continued to implement the SCAE Plan, including by working to optimize our supply chain network, pursue cost reductions through our SG&A functions, enhance trade spend processes and tools, and improve productivity. Although we remain unable to make good faith estimates relating to the entire SCAE Plan, we are reporting on actions initiated through the end of the first quarter of fiscal 2018 , including the estimated amounts or range of amounts for each major type of costs expected to be incurred, and the charges that have resulted or will result in cash outflows. As of August 27, 2017 , our Board of Directors has approved the incurrence of up to $900.9 million of expenses in connection with the SCAE Plan, including expenses allocated for the Private Brands and Lamb Weston operations. We have incurred or expect to incur approximately $450.1 million of charges ( $303.3 million of cash charges and $146.8 million of non-cash charges) for actions identified to date under the SCAE Plan related to our continuing operations. In the first quarter of fiscal 2018 and 2017, we recognized charges of $11.4 million and $14.1 million , respectively, in relation to the SCAE Plan related to our continuing operations. We expect to incur costs related to the SCAE Plan over a multi-year period. We anticipate that we will recognize the following pre-tax expenses in association with the SCAE Plan related to our continuing operations (amounts include charges recognized from plan inception through the first quarter of fiscal 2018 ): Grocery & Snacks Refrigerated & Frozen International Foodservice Corporate Total Pension costs $ 32.9 $ 1.5 $ — $ — $ — $ 34.4 Accelerated depreciation 33.7 18.6 — — 1.2 53.5 Other cost of goods sold 9.2 2.1 — — — 11.3 Total cost of goods sold 75.8 22.2 — — 1.2 99.2 Severance and related costs, net 26.9 10.3 2.5 7.9 102.1 149.7 Fixed asset impairment (net of gains on disposal) 7.4 6.9 — — 11.2 25.5 Accelerated depreciation — — — — 4.4 4.4 Contract/lease cancellation expenses 0.8 0.6 0.6 — 72.6 74.6 Consulting/professional fees 0.9 0.4 0.1 — 52.7 54.1 Other selling, general and administrative expenses 15.0 3.2 — — 24.4 42.6 Total selling, general and administrative expenses 51.0 21.4 3.2 7.9 267.4 350.9 Consolidated total $ 126.8 $ 43.6 $ 3.2 $ 7.9 $ 268.6 $ 450.1 During the first quarter of fiscal 2018 , we recognized the following pre-tax expenses for the SCAE Plan related to our continuing operations: Grocery & Snacks Corporate Total Accelerated depreciation $ 1.2 $ — $ 1.2 Other cost of goods sold 1.1 — 1.1 Total cost of goods sold 2.3 — 2.3 Severance and related costs, net 2.0 — 2.0 Fixed asset impairment (net of gains on disposal) 0.1 4.4 4.5 Accelerated depreciation — 0.6 0.6 Consulting/professional fees — 0.2 0.2 Other selling, general and administrative expenses 1.8 — 1.8 Total selling, general and administrative expenses 3.9 5.2 9.1 Consolidated total $ 6.2 $ 5.2 $ 11.4 Included in the above table are $4.8 million of charges that have resulted or will result in cash outflows and $6.6 million in non-cash charges. We recognized the following cumulative (plan inception to August 27, 2017 ) pre-tax expenses related to the SCAE Plan related to our continuing operations in our Condensed Consolidated Statements of Earnings: Grocery & Snacks Refrigerated & Frozen International Foodservice Corporate Total Pension costs $ 32.9 $ 1.5 $ — $ — $ — $ 34.4 Accelerated depreciation 32.2 18.6 — — 1.2 52.0 Other cost of goods sold 6.1 2.1 — — — 8.2 Total cost of goods sold 71.2 22.2 — — 1.2 94.6 Severance and related costs, net 25.9 10.3 2.5 7.9 101.5 148.1 Fixed asset impairment (net of gains on disposal) 7.4 6.9 — — 11.2 25.5 Accelerated depreciation — — — — 3.2 3.2 Contract/lease cancellation expenses 0.8 0.6 0.6 — 71.3 73.3 Consulting/professional fees 0.9 0.4 0.1 — 51.4 52.8 Other selling, general and administrative expenses 13.0 3.2 — — 20.0 36.2 Total selling, general and administrative expenses 48.0 21.4 3.2 7.9 258.6 339.1 Consolidated total $ 119.2 $ 43.6 $ 3.2 $ 7.9 $ 259.8 $ 433.7 Included in the above results are $290.3 million of charges that have resulted or will result in cash outflows and $143.4 million in non-cash charges. Not included in the above results are $130.2 million of pre-tax expenses ( $84.5 million of cash charges and $45.7 million of non-cash charges) related to the Private Brands operations, which we sold in the third quarter of fiscal 2016, and $2.1 million of pre-tax expenses (all resulting in cash charges) related to Lamb Weston. Liabilities recorded for the SCAE Plan related to our continuing operations and changes therein for the first quarter of fiscal 2018 were as follows: Balance at May 28, 2017 Costs Incurred and Charged to Expense Costs Paid or Otherwise Settled Changes in Estimates Balance at August 27, 2017 Pension costs $ 31.8 $ — $ — $ — $ 31.8 Severance and related costs 13.8 2.3 (4.4 ) (0.3 ) 11.4 Consulting/professional fees 0.6 0.2 (0.6 ) — 0.2 Contract/lease cancellation 11.6 — (1.7 ) — 9.9 Other costs 1.9 2.7 (3.2 ) — 1.4 Total $ 59.7 $ 5.2 $ (9.9 ) $ (0.3 ) $ 54.7

LONG-TERM DEBT AND REVOLVING CR

LONG-TERM DEBT AND REVOLVING CREDIT FACILITY	3 Months Ended
	Aug. 27, 2017
Debt Disclosure [Abstract]
LONG-TERM DEBT AND REVOLVING CREDIT FACILITY	LONG-TERM DEBT AND REVOLVING CREDIT FACILITY At August 27, 2017 , we had a revolving credit facility (the "Facility") with a syndicate of financial institutions that provides for a maximum aggregate principal amount outstanding at any one time of $1.25 billion (subject to increase to a maximum aggregate principal amount of $1.75 billion with the consent of the lenders). As of August 27, 2017 , we were in compliance with all financial covenants under the Facility. During the third quarter of fiscal 2017, we repaid the remaining principal balance of $224.8 million of our 5.819% senior notes due 2017 and $248.2 million principal amount of our 7.0% senior notes due 2019, in each case prior to maturity, resulting in a net loss on early retirement of debt of $32.7 million . In connection with the Spinoff (see Note 3), Lamb Weston issued to us $1.54 billion aggregate principal amount of senior notes (the "Lamb Weston notes"). On November 9, 2016, we exchanged the Lamb Weston notes for $250.2 million aggregate principal amount of our 5.819% senior notes due 2017, $880.4 million aggregate principal amount of our 1.9% senior notes due 2018, $154.9 million aggregate principal amount of our 2.1% senior notes due 2018, $86.9 million aggregate principal amount of our 7.0% senior notes due 2019, and $71.1 million aggregate principal amount of our 4.95% senior notes due 2020 (collectively, the "Conagra notes"), which had been purchased in the open market by certain investment banks prior to the Spinoff. Following the exchange, we cancelled the Conagra notes. These actions resulted in a net loss of $60.6 million as a cost of early retirement of debt. During the first quarter of fiscal 2017, we repaid the entire principal balance of $550.0 million of our floating rate notes on the maturity date of July 21, 2016. Net interest expense from continuing operations consists of: Thirteen weeks ended August 27, August 28, Long-term debt $ 38.1 $ 60.9 Short-term debt 0.4 0.2 Interest income (0.9 ) (0.7 ) Interest capitalized (1.2 ) (2.2 ) $ 36.4 $ 58.2

VARIABLE INTEREST ENTITIES

VARIABLE INTEREST ENTITIES	3 Months Ended
	Aug. 27, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
VARIABLE INTEREST ENTITIES	VARIABLE INTEREST ENTITIES Variable Interest Entities Not Consolidated We have variable interests in certain entities that we have determined to be variable interest entities, but for which we are not the primary beneficiary. We do not consolidate the financial statements of these entities. We lease certain office buildings from entities that we have determined to be variable interest entities. The lease agreements with these entities include fixed-price purchase options for the assets being leased. The lease agreements also contain contingent put options (the "lease put options") that allow the lessors to require us to purchase the buildings at the greater of original construction cost, or fair market value, without a lease agreement in place (the "put price") in certain limited circumstances. As a result of substantial impairment charges related to our divested Private Brands operations, these lease put options are exercisable now and remain exercisable until generally 30 days after the end of the respective lease agreements. We are amortizing the difference between the put price and the estimated fair value (without a lease agreement in place) of each respective property over the remaining respective lease term within selling, general and administrative expenses. As of August 27, 2017 and May 28, 2017 , the estimated amount by which the put prices exceeded the fair values of the related properties was $51.8 million , of which we had accrued $9.3 million and $8.4 million , respectively. As these buildings are worth considerably more when under lease agreements than when vacant, we may be able to mitigate some, or all, of the financial exposure created by the put options by maintaining active lease agreements and/or by subleasing the buildings to credit worthy tenants. We do not expect to ultimately incur material financial losses as a result of the potential exercise of the lease put options by the lessors. These leases are accounted for as operating leases, and accordingly, there are no material assets or liabilities, other than the accrued portion of the put price, associated with these entities included in the Condensed Consolidated Balance Sheets. We have determined that we do not have the power to direct the activities that most significantly impact the economic performance of these entities. In making this determination, we have considered, among other items, the terms of the lease agreements, the expected remaining useful lives of the assets leased, and the capital structure of the lessor entities.

GOODWILL AND OTHER IDENTIFIABLE

GOODWILL AND OTHER IDENTIFIABLE INTANGIBLE ASSETS	3 Months Ended
	Aug. 27, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND OTHER IDENTIFIABLE INTANGIBLE ASSETS	GOODWILL AND OTHER IDENTIFIABLE INTANGIBLE ASSETS The change in the carrying amount of goodwill for the first quarter of fiscal 2018 was as follows: Grocery & Snacks Refrigerated & Frozen International Foodservice Total Balance as of May 28, 2017 $ 2,439.1 $ 1,037.3 $ 253.6 $ 571.1 $ 4,301.1 Purchase accounting adjustments (1.4 ) — — — (1.4 ) Currency translation — 0.9 1.1 — 2.0 Balance as of August 27, 2017 $ 2,437.7 $ 1,038.2 $ 254.7 $ 571.1 $ 4,301.7 Other identifiable intangible assets were as follows: August 27, 2017 May 28, 2017 Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Non-amortizing intangible assets $ 835.6 $ — $ 834.1 $ — Amortizing intangible assets 577.3 189.3 575.4 180.2 $ 1,412.9 $ 189.3 $ 1,409.5 $ 180.2 In the first quarter of fiscal 2017, in anticipation of the Spinoff, we changed our reporting segments. In accordance with applicable accounting guidance, we were required to determine new reporting units at a lower level (at the operating segment or one level lower, as applicable). When such a determination was made, we were required to perform a goodwill impairment analysis for each of the new reporting units. We performed an assessment of impairment of goodwill for the new Canadian reporting unit within the new International reporting segment. Estimating the fair value of individual reporting units requires us to make assumptions and estimates regarding our future plans and future industry and economic conditions. We estimated the future cash flows of the Canadian reporting unit and calculated the net present value of those estimated cash flows using a risk adjusted discount rate, in order to estimate the fair value of each reporting unit from the perspective of a market participant. We used discount rates and terminal growth rates of 7.5% and 2% , respectively, to calculate the present value of estimated future cash flows. We then compared the estimated fair value of the reporting unit to the historical carrying value (including allocated assets and liabilities of certain shared and Corporate functions), and determined that the fair value of the reporting unit was less than the carrying value in the first quarter of fiscal 2017. With the assistance of a third-party valuation specialist, we estimated the fair value of the assets and liabilities of this reporting unit in order to determine the implied fair value of goodwill. We recognized an impairment charge for the difference between the implied fair value of goodwill and the carrying value of goodwill. Accordingly, during the first quarter of fiscal 2017, we recorded charges totaling $139.2 million for the impairment of goodwill. As part of the assessment of the fair value of each asset and liability within the Canadian reporting unit, with the assistance of the third-party valuation specialist, we estimated the fair value of our Canadian Del Monte ® brand to be less than its carrying value. In accordance with applicable accounting guidance, we recognized an impairment charge of $24.4 million to write-down the intangible asset to its estimated fair value. Non-amortizing intangible assets are comprised of brands and trademarks. Amortizing intangible assets, carrying a remaining weighted average life of approximately 14 years , are principally composed of customer relationships, licensing arrangements, and acquired intellectual property. Amortization expense was $8.6 million and $8.4 million for the first quarter of fiscal 2018 and 2017, respectively. Based on amortizing assets recognized in our Condensed Consolidated Balance Sheet as of August 27, 2017 , amortization expense is estimated to average $33.4 million for each of the next five years.

DERIVATIVE FINANCIAL INSTRUMENT

DERIVATIVE FINANCIAL INSTRUMENTS	3 Months Ended
	Aug. 27, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE FINANCIAL INSTRUMENTS	DERIVATIVE FINANCIAL INSTRUMENTS Our operations are exposed to market risks from adverse changes in commodity prices affecting the cost of raw materials and energy, foreign currency exchange rates, and interest rates. In the normal course of business, these risks are managed through a variety of strategies, including the use of derivatives. Commodity and commodity index futures and option contracts are used from time to time to economically hedge commodity input prices on items such as natural gas, vegetable oils, proteins, packaging materials, dairy, grains, and electricity. Generally, we economically hedge a portion of our anticipated consumption of commodity inputs for periods of up to 36 months. We may enter into longer-term economic hedges on particular commodities, if deemed appropriate. As of August 27, 2017 , we had economically hedged certain portions of our anticipated consumption of commodity inputs using derivative instruments with expiration dates through May 2018. In order to reduce exposures related to changes in foreign currency exchange rates, we enter into forward exchange, option, or swap contracts from time to time for transactions denominated in a currency other than the applicable functional currency. This includes, but is not limited to, hedging against foreign currency risk in purchasing inventory and capital equipment, sales of finished goods, and future settlement of foreign-denominated assets and liabilities. As of August 27, 2017 , we had economically hedged certain portions of our foreign currency risk in anticipated transactions using derivative instruments with expiration dates through May 2018. From time to time, we may use derivative instruments, including interest rate swaps, to reduce risk related to changes in interest rates. This includes, but is not limited to, hedging against increasing interest rates prior to the issuance of long-term debt and hedging the fair value of our senior long-term debt. Economic Hedges of Forecasted Cash Flows Many of our derivatives do not qualify for, and we do not currently designate certain commodity or foreign currency derivatives to achieve, hedge accounting treatment. We reflect realized and unrealized gains and losses from derivatives used to economically hedge anticipated commodity consumption and to mitigate foreign currency cash flow risk in earnings immediately within general corporate expense (within cost of goods sold). The gains and losses are reclassified to segment operating results in the period in which the underlying item being economically hedged is recognized in cost of goods sold. In the event that management determines a particular derivative entered into as an economic hedge of a forecasted commodity purchase has ceased to function as an economic hedge, we cease recognizing further gains and losses on such derivatives in corporate expense and begin recognizing such gains and losses within segment operating results, immediately. Economic Hedges of Fair Values — Foreign Currency Exchange Rate Risk We may use options and cross currency swaps to economically hedge the fair value of certain monetary assets and liabilities (including intercompany balances) denominated in a currency other than the functional currency. These derivatives are marked-to-market with gains and losses immediately recognized in selling, general and administrative expenses. These substantially offset the foreign currency transaction gains or losses recognized as values of the monetary assets or liabilities being economically hedged change. All derivative instruments are recognized on our balance sheets at fair value (refer to Note 16 for additional information related to fair value measurements). The fair value of derivative assets is recognized within prepaid expenses and other current assets, while the fair value of derivative liabilities is recognized within other accrued liabilities. In accordance with U.S. GAAP, we offset certain derivative asset and liability balances, as well as certain amounts representing rights to reclaim cash collateral and obligations to return cash collateral, where master netting agreements provide for legal right of setoff. At May 28, 2017 , $0.9 million representing a right to reclaim cash collateral was included in prepaid expenses and other current assets in our Condensed Consolidated Balance Sheet. Derivative assets and liabilities and amounts representing a right to reclaim cash collateral or an obligation to return cash collateral were reflected in our Condensed Consolidated Balance Sheets as follows: August 27, May 28, Prepaid expenses and other current assets $ 4.1 $ 2.3 Other accrued liabilities 6.3 1.3 The following table presents our derivative assets and liabilities, at August 27, 2017 , on a gross basis, prior to the setoff of $1.3 million to total derivative assets and $1.3 million to total derivative liabilities where legal right of setoff existed: Derivative Assets Derivative Liabilities Balance Sheet Location Fair Value Balance Sheet Location Fair Value Commodity contracts Prepaid expenses and other current assets $ 5.1 Other accrued liabilities $ 1.4 Foreign exchange contracts Prepaid expenses and other current assets 0.3 Other accrued liabilities 6.1 Other Prepaid expenses and other current assets — Other accrued liabilities 0.1 Total derivatives not designated as hedging instruments $ 5.4 $ 7.6 The following table presents our derivative assets and liabilities at May 28, 2017 , on a gross basis, prior to the setoff of $0.5 million to total derivative assets and $1.4 million to total derivative liabilities where legal right of setoff existed: Derivative Assets Derivative Liabilities Balance Sheet Location Fair Value Balance Sheet Location Fair Value Commodity contracts Prepaid expenses and other current assets $ 2.6 Other accrued liabilities $ 1.4 Foreign exchange contracts Prepaid expenses and other current assets 0.2 Other accrued liabilities 1.1 Other Prepaid expenses and other current assets — Other accrued liabilities 0.2 Total derivatives not designated as hedging instruments $ 2.8 $ 2.7 The location and amount of gain (loss) from derivatives not designated as hedging instruments in our Condensed Consolidated Statements of Earnings were as follows: Derivatives Not Designated as Hedging Instruments Location in Condensed Consolidated Statement of Earnings of Gain (Loss) Recognized on Derivatives Amount of Gain (Loss) Recognized on Derivatives in Condensed Consolidated Statement of Earnings for the Thirteen Weeks Ended August 27, 2017 August 28, 2016 Commodity contracts Cost of goods sold $ 0.6 $ (0.4 ) Foreign exchange contracts Cost of goods sold (8.0 ) 0.1 Foreign exchange contracts Selling, general and administrative expense 0.3 (1.2 ) Total loss from derivative instruments not designated as hedging instruments $ (7.1 ) $ (1.5 ) As of August 27, 2017 , our open commodity contracts had a notional value (defined as notional quantity times market value per notional quantity unit) of $86.6 million and $66.5 million for purchase and sales contracts, respectively. As of May 28, 2017 , our open commodity contracts had a notional value of $76.8 million and $73.4 million for purchase and sales contracts, respectively. The notional amount of our foreign currency forward contracts as of August 27, 2017 and May 28, 2017 was $79.6 million and $81.9 million , respectively. We enter into certain commodity, interest rate, and foreign exchange derivatives with a diversified group of counterparties. We continually monitor our positions and the credit ratings of the counterparties involved and limit the amount of credit exposure to any one party. These transactions may expose us to potential losses due to the risk of nonperformance by these counterparties. We have not incurred a material loss due to nonperformance in any period presented and do not expect to incur any such material loss. We also enter into futures and options transactions through various regulated exchanges. At August 27, 2017 , the maximum amount of loss due to the credit risk of the counterparties, had the counterparties failed to perform according to the terms of the contracts, was $0.3 million .

SHARE-BASED PAYMENTS

SHARE-BASED PAYMENTS	3 Months Ended
	Aug. 27, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
SHARE-BASED PAYMENTS	SHARE-BASED PAYMENTS For the first quarter of fiscal 2018 and 2017 , we recognized total stock-based compensation expense (including stock options, restricted stock units, cash-settled restricted stock units, and performance shares) of $6.4 million and $14.8 million , respectively. These amounts are inclusive of discontinued operations. Included in the total stock-based compensation expense for the first quarter of fiscal 2018 and 2017 was expense of $0.3 million and income of $0.1 million , respectively, related to stock options granted by a subsidiary in the subsidiary's shares to the subsidiary's employees. For the first quarter of fiscal 2018 , we granted 0.8 million restricted stock units at a weighted average grant date price of $34.10 and 0.5 million performance shares at a weighted average grant date price of $33.82 . Performance shares are granted to selected executives and other key employees with vesting contingent upon meeting various Company-wide performance goals. The performance goal for one-third of the target number of performance shares for the performance period ending in fiscal 2018 (the "2018 performance period") is based upon an overarching earnings per share goal (for certain participants) and, for all participants, our fiscal 2016 earnings before interest, taxes, depreciation, and amortization ("EBITDA") return on capital. Another one-third of the target number of performance shares granted for the 2018 performance period is based on an overarching earnings per share goal (for certain participants) and our fiscal 2017 EBITDA return on capital. The fiscal 2017 EBITDA return on capital target, when set, excluded the results of Lamb Weston. The performance goal for the last one-third of the target number of performance shares granted for the 2018 performance period is based upon our fiscal 2018 diluted earnings per share ("EPS") compound annual growth rate ("CAGR"). The performance goal for one-third of the target number of performance shares for the performance period ending in fiscal 2019 (the "2019 performance period") is based upon an overarching earnings per share goal (for certain participants) and our fiscal 2017 EBITDA return on capital. The fiscal 2017 EBITDA return on capital target, when set, excluded the results of Lamb Weston. The performance goal for the final two-thirds of the target number of performance shares granted for the 2019 performance period is based upon our diluted EPS CAGR, measured over the two -year period ending in fiscal 2019. The performance goal for the performance period ending in fiscal 2020 is based upon our diluted EPS CAGR, measured over the defined performance period. Awards, if earned, will be paid in shares of our common stock. Subject to limited exceptions set forth in the performance share plan, any shares earned will be distributed after the end of the performance period, and only if the participant continues to be employed with the Company through the date of distribution. For awards where performance against the performance target has not been certified, the value of the performance shares is adjusted based upon the market price of our common stock and current forecasted performance against the performance targets at the end of each reporting period and amortized as compensation expense over the vesting period.

EARNINGS PER SHARE

EARNINGS PER SHARE	3 Months Ended
	Aug. 27, 2017
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE Basic earnings per share is calculated on the basis of weighted average outstanding common shares. Diluted earnings per share is computed on the basis of basic weighted average outstanding common shares adjusted for the dilutive effect of stock options, restricted stock unit awards, and other dilutive securities. The following table reconciles the income and average share amounts used to compute both basic and diluted earnings per share: Thirteen weeks ended August 27, August 28, Net income available to Conagra Brands, Inc. common stockholders: Income from continuing operations attributable to Conagra Brands, Inc. common stockholders $ 152.8 $ 98.4 Income (loss) from discontinued operations, net of tax, attributable to Conagra Brands, Inc. common stockholders (0.3 ) 87.8 Net income attributable to Conagra Brands, Inc. common stockholders $ 152.5 $ 186.2 Less: Increase in redemption value of noncontrolling interests in excess of earnings allocated — 0.5 Net income available to Conagra Brands, Inc. common stockholders $ 152.5 $ 185.7 Weighted average shares outstanding: Basic weighted average shares outstanding 415.1 439.0 Add: Dilutive effect of stock options, restricted stock unit awards, and other dilutive securities 4.1 3.7 Diluted weighted average shares outstanding 419.2 442.7 For the first quarter of fiscal 2018 and 2017, there were 1.3 million and 0.7 million stock options outstanding, respectively, that were excluded from the computation of diluted weighted average shares because the effect was antidilutive.

INVENTORIES

INVENTORIES	3 Months Ended
	Aug. 27, 2017
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES The major classes of inventories were as follows: August 27, May 28, Raw materials and packaging $ 203.8 $ 182.1 Work in process 96.1 91.9 Finished goods 721.2 612.9 Supplies and other 47.7 47.3 Total $ 1,068.8 $ 934.2

INCOME TAXES

INCOME TAXES	3 Months Ended
	Aug. 27, 2017
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES Income tax expense from continuing operations for the first quarter of fiscal 2018 and 2017 was $ 120.0 million and $ 169.2 million , respectively. The effective tax rate (calculated as the ratio of income tax expense to pre-tax income from continuing operations, inclusive of equity method investment earnings) from continuing operations was 43.9% and 63.2% for the first quarter of fiscal 2018 and 2017, respectively. The effective tax rate in the first quarter of fiscal 2018 reflects additional tax expense related to the planned repatriation of cash from foreign subsidiaries and the tax expense related to undistributed foreign earnings for which the indefinite reinvestment assertion is no longer made. The effective tax rate in the first quarter of fiscal 2017 reflects the following: • an income tax benefit allowed upon the vesting/exercise of employee stock compensation awards by our employees, beyond that which is attributable to the original fair value of the awards upon the date of grant, • additional tax expense in the first quarter of fiscal 2017 associated with non-deductible goodwill sold in connection with the dispositions of the Spicetec and JM Swank businesses, and • additional tax expense in the first quarter of fiscal 2017 associated with non-deductible goodwill, for which an impairment charge was recognized. The amount of gross unrecognized tax benefits for uncertain tax positions, including positions impacting only the timing of tax benefits, was $37.7 million as of August 27, 2017 and $39.3 million as of May 28, 2017 . There were no balances included as of either August 27, 2017 or May 28, 2017 , for tax positions for which the ultimate deductibility is highly certain but for which there is uncertainty about the timing of such deductibility. The gross unrecognized tax benefits excluded related liabilities for gross interest and penalties of $5.8 million and $6.0 million as of August 27, 2017 and May 28, 2017 , respectively. The net amount of unrecognized tax benefits at August 27, 2017 and May 28, 2017 that, if recognized, would impact the Company's effective tax rate was $30.7 million and $31.6 million , respectively. Recognition of these tax benefits would have a favorable impact on the Company's effective tax rate. We estimate that it is reasonably possible that the amount of gross unrecognized tax benefits will decrease by up to $16.7 million over the next twelve months due to various federal, state, and foreign audit settlements and the expiration of statutes of limitations. As of August 27, 2017 and May 28, 2017 , we had a deferred tax asset of $1.09 billion and $1.08 billion , respectively, that was generated from the capital loss realized on the sale of the Private Brands operations with corresponding valuation allowances of $994.3 million and $990.9 million , respectively, to reflect the uncertainty regarding the ultimate realization of the tax asset. During the first quarter of fiscal 2018, the balance of the deferred tax asset was adjusted for the impact of state law changes, realization of certain tax attributes, and the settlement of certain tax indemnity claims under the contract terms of the Private Brands sale. Historically, we have not provided U.S. deferred taxes on the cumulative undistributed earnings of our foreign subsidiaries. During the first quarter of fiscal 2018, we decided to repatriate certain cash balances currently held in Italy, Canada, Mexico, the Netherlands, and Luxembourg due to the timing of cash flows in connection with certain business acquisition and divestiture activity, as well as forecasted levels of short-term borrowings. We expect to repatriate approximately $154.8 million during the second quarter of fiscal 2018. The planned cash repatriation will result in the repatriation of approximately $115.0 million in previously undistributed earnings of our foreign subsidiaries. As a result of this decision, we have recognized $12.2 million of income tax expense in the first quarter of fiscal 2018. In conjunction with this planned repatriation, we have determined that additional previously undistributed earnings of foreign subsidiaries no longer meets the requirements for indefinite reinvestment under applicable accounting guidance and, therefore, recognized an additional $11.3 million of income tax expense in the first quarter of fiscal 2018. An additional $4.3 million of income tax expense was recognized in the first quarter of fiscal 2018, primarily related to a valuation allowance on foreign tax credits generated in prior periods. We continue to believe the remaining undistributed earnings of our foreign subsidiaries, after taking into account the above transactions, are indefinitely reinvested and therefore have not provided any additional U.S. deferred taxes.

CONTINGENCIES

CONTINGENCIES	3 Months Ended
	Aug. 27, 2017
Commitments and Contingencies Disclosure [Abstract]
CONTINGENCIES	CONTINGENCIES In fiscal 1991, we acquired Beatrice Company ("Beatrice"). As a result of the acquisition of Beatrice and the significant pre-acquisition contingencies of the Beatrice businesses and its former subsidiaries, our condensed consolidated post-acquisition financial statements reflect liabilities associated with the estimated resolution of these contingencies. Such liabilities include various litigation and environmental proceedings related to businesses divested by Beatrice prior to our acquisition of Beatrice. The litigation proceedings include suits against a number of lead paint and pigment manufacturers, including ConAgra Grocery Products Company, LLC, a wholly owned subsidiary of the Company ("ConAgra Grocery Products"), and the Company as alleged successors to W. P. Fuller Co., a lead paint and pigment manufacturer owned and operated by Beatrice until 1967. Although decisions favorable to us have been rendered in Rhode Island, New Jersey, Wisconsin, and Ohio, we remain a defendant in active suits in Illinois and California. The Illinois suit seeks class-wide relief for reimbursement of costs associated with the testing of lead levels in blood. In California, a number of cities and counties joined in a consolidated action seeking abatement of the alleged public nuisance. On September 23, 2013, a trial of the California case concluded in the Superior Court of California for the County of Santa Clara, and on January 27, 2014, the court entered a judgment (the "Judgment") against ConAgra Grocery Products and two other defendants ordering the creation of a California abatement fund in the amount of $1.15 billion . Liability is joint and several. The Company believes ConAgra Grocery Products did not inherit any liabilities of W. P. Fuller Co. The Company will continue to vigorously defend itself in this case and has appealed the Judgment to the Court of Appeal of the State of California Sixth Appellate District. The Company expects the appeals process to last several years. The absence of any linkage between ConAgra Grocery Products and W. P. Fuller Co. is a critical issue (among others) that the Company will continue to advance throughout the appeals process. It is not possible to estimate exposure in this case or the remaining case in Illinois, which is based on different legal theories. If ultimately necessary, the Company will look to its insurance policies for coverage; its carriers are on notice. However, the extent of insurance coverage is uncertain, and the Company cannot absolutely assure that the final resolution of these matters will not have a material adverse effect on its financial condition, results of operations, or liquidity. The current environmental proceedings associated with Beatrice include litigation and administrative proceedings involving Beatrice's possible status as a potentially responsible party at approximately 40 Superfund, proposed Superfund, or state-equivalent sites (the "Beatrice sites"). These sites involve locations previously owned or operated by predecessors of Beatrice that used or produced petroleum, pesticides, fertilizers, dyes, inks, solvents, PCBs, acids, lead, sulfur, tannery wastes, and/or other contaminants. In the past five years, Beatrice has paid or is in the process of paying its liability share at 31 of these sites. Reserves for these Beatrice environmental proceedings have been established based on our best estimate of the undiscounted remediation liabilities, which estimates include evaluation of investigatory studies, extent of required clean-up, the known volumetric contribution of Beatrice and other potentially responsible parties, and its experience in remediating sites. The accrual for Beatrice-related environmental matters totaled $53.1 million as of August 27, 2017 , a majority of which relates to the Superfund and state-equivalent sites referenced above. During the third quarter of fiscal 2017, a final Remedial Investigation/Feasibility Study was submitted for the Wells G&H-Southwest Properties Superfund site, which is one of the Beatrice sites. The U.S. Environmental Protection Agency (the "EPA") has issued a proposed plan for remediation that is currently open for public comment, will issue a Record of Decision for this site shortly, and will subsequently enter into negotiations with potentially responsible parties to determine a final Remedial Design/Remedial Action plan for the site. The accrual for Wells G&H-Southwest Properties Superfund site totaled $1.1 million as of August 27, 2017, which was included in the total accrual for Beatrice-related environmental matters referenced above. In June 2009, an accidental explosion occurred at our manufacturing facility in Garner, North Carolina. This facility was the primary production facility for our Slim Jim ® branded meat snacks. In June 2009, the U.S. Bureau of Alcohol, Tobacco, Firearms and Explosives announced its determination that the explosion was the result of an accidental natural gas release and not a deliberate act. During the fourth quarter of fiscal 2011, we settled our property and business interruption claims related to the Garner accident with our insurance providers. During the fourth quarter of fiscal 2011, Jacobs Engineering Group Inc. ("Jacobs"), our engineer and project manager at the site, filed a declaratory judgment action against us seeking indemnity for personal injury claims brought against it as a result of the accident. During the first quarter of fiscal 2012, our motion for summary judgment was granted and the suit was dismissed without prejudice on the basis that the suit was filed prematurely. In the third quarter of fiscal 2014, Jacobs refiled its action seeking indemnity. On March 25, 2016, a Douglas County jury in Nebraska rendered a verdict in favor of Jacobs and against us in the amount of $108.9 million plus post-judgment interest. We filed our Notice of Appeal in September 2016. The appeal will be decided directly by the Nebraska Supreme Court. Although our insurance carriers have provided customary notices of reservation of their rights under the policies of insurance, we expect any ultimate exposure in this case to be limited to the applicable insurance deductible. We are party to a number of putative class action lawsuits challenging various product claims made in the Company's product labeling. These matters include Briseno v. ConAgra Foods, Inc., in which it is alleged that the labeling for Wesson ® oils as 100% natural is false and misleading because the oils contain genetically modified plants and organisms. In February 2015, the U.S. District Court for the Central District of California granted class certification to permit plaintiffs to pursue state law claims. The Company appealed to the United States Court of Appeals for the Ninth Circuit, which affirmed class certification in January 2017. The Company has sought further review by the United States Supreme Court. While we cannot predict with certainty the results of this or any other legal proceeding, we do not expect this matter to have a material adverse effect on our financial condition, results of operations, or business. In certain limited situations, we guarantee obligations of the Lamb Weston business pursuant to guarantee arrangements that existed prior to the Spinoff and remained in place following completion of the Spinoff until such guarantee obligations are substituted for guarantees issued by Lamb Weston. Such guarantee arrangements are described below. Pursuant to the Separation and Distribution Agreement, dated as of November 8, 2016 (the "Separation Agreement"), between us and Lamb Weston, these guarantee arrangements are deemed liabilities of Lamb Weston that were transferred to Lamb Weston as part of the Spinoff. Accordingly, in the event that we are required to make any payments as a result of these guarantee arrangements, Lamb Weston is obligated to indemnify us for any such liability, reduced by any insurance proceeds received by us, in accordance with the terms of the indemnification provisions under the Separation Agreement. Lamb Weston is a party to a warehouse services agreement with a third-party warehouse provider through July 2035. Under this agreement, Lamb Weston is required to make payments for warehouse services based on the quantity of goods stored and other service factors. We have guaranteed the warehouse provider that we will make the payments required under the agreement in the event that Lamb Weston fails to perform. Minimum payments of $1.5 million per month are required under this agreement. It is not possible to determine the maximum amount of the payment obligations under this agreement. Upon completion of the Spinoff, we recognized a liability for the estimated fair value of this guarantee. As of August 27, 2017 , the amount of this guarantee, recorded in other noncurrent liabilities, was $29.3 million . Lamb Weston is a party to an agricultural sublease agreement with a third party for certain farmland through 2020 (subject, at Lamb Weston's option, to extension for two additional five -year periods). Under the terms of the sublease agreement, Lamb Weston is required to make certain rental payments to the sublessor. We have guaranteed the sublessor Lamb Weston's performance and the payment of all amounts (including indemnification obligations) owed by Lamb Weston under the sublease agreement, up to a maximum of $75.0 million . We believe the farmland associated with this sublease agreement is readily marketable for lease to other area farming operators. As such, we believe that any financial exposure to the company, in the event that we were required to perform under the guaranty, would be largely mitigated. We lease certain office buildings from entities that we have determined to be variable interest entities. The lease agreements contain put options exercisable now and remain exercisable until generally 30 days after the end of the respective lease agreements, that allow the lessors to require us to purchase the buildings at the greater of original construction cost, or fair market value, without a lease in place. We have financial exposure with respect to these entities in the event we are required to purchase the leased buildings for a price in excess of the then current fair value under the applicable lease purchase options. We are amortizing the difference between the put price and the estimated fair value (without a lease agreement in place) of each respective property over the remaining respective lease term within selling, general and administrative expenses. As of August 27, 2017 and May 28, 2017 , the estimated amount by which the put prices exceeded the fair values of the related properties was $51.8 million , of which we had accrued $9.3 million and $8.4 million , respectively. As these buildings are worth considerably more when under lease agreements than when vacant, we may be able to mitigate some, or all, of the related financial exposure created by the put options by maintaining active lease agreements and/or by subleasing the buildings to credit worthy tenants. We do not expect to ultimately incur material financial losses as a result of the potential exercise of the lease put options by the lessors. We are party to a number of matters challenging the Company's wage and hour practices. These matters include a number of putative class actions consolidated under the caption Negrete v. ConAgra Foods, Inc., et al, pending in the U.S. District Court for the Central District of California, in which the plaintiffs allege a pattern of violations of California and/or federal law at several current and former Company manufacturing facilities across the State of California. While we cannot predict with certainty the results of this or any other legal proceeding, we do not expect this matter to have a material adverse effect on our financial condition, results of operations, or business. After taking into account liabilities recognized for all of the foregoing matters, management believes the ultimate resolution of such matters should not have a material adverse effect on our financial condition, results of operations, or liquidity. It is reasonably possible that a change of the estimates of any of the foregoing matters may occur in the future and, as noted, while unlikely, the lead paint matter could result in a material final judgment. Costs of legal services associated with the foregoing matters are recognized in earnings as services are provided.

PENSION AND POSTRETIREMENT BENE

PENSION AND POSTRETIREMENT BENEFITS	3 Months Ended
	Aug. 27, 2017
Retirement Benefits [Abstract]
PENSION AND POSTRETIREMENT BENEFITS	PENSION AND POSTRETIREMENT BENEFITS We have defined benefit retirement plans ("plans") for eligible salaried and hourly employees. Benefits are based on years of credited service and average compensation or stated amounts for each year of service. We also sponsor postretirement plans which provide certain medical and dental benefits ("other postretirement benefits") to qualifying U.S. employees. Components of pension benefit and other postretirement benefit costs are (includes amounts related to discontinued operations): Pension Benefits Thirteen Weeks Ended August 27, August 28, Service cost $ 12.7 $ 16.7 Interest cost 28.2 30.0 Expected return on plan assets (54.2 ) (53.8 ) Amortization of prior service cost 0.7 0.6 Benefit cost (benefit) — Company plans (12.6 ) (6.5 ) Pension benefit cost — multi-employer plans 1.5 2.3 Total benefit cost (benefit) $ (11.1 ) $ (4.2 ) Postretirement Benefits Thirteen Weeks Ended August 27, August 28, Service cost $ — $ — Interest cost 0.9 1.1 Amortization of prior service benefit (0.8 ) (1.7 ) Recognized net actuarial loss — 0.1 Total cost (benefit) $ 0.1 $ (0.5 ) The Company uses a split discount rate (spot-rate approach) for the U.S. plans and certain foreign plans. The spot-rate approach applies separate discount rates for each projected benefit payment in the calculation of pension service and interest cost. The weighted-average discount rates for service and interest costs under the spot-rate approach used for pension benefit cost in fiscal 2018 were 4.19% and 3.26% , respectively. During the first quarter of fiscal 2018 , we contributed $3.8 million to our pension plans and contributed $3.9 million to our other postretirement plans. Based upon the current funded status of the plans and the current interest rate environment, we anticipate making further contributions of approximately $9.1 million to our pension plans for the remainder of fiscal 2018 . We anticipate making further contributions of $14.8 million to our other postretirement plans during the remainder of fiscal 2018 . These estimates are based on ERISA guidelines, current tax laws, plan asset performance, and liability assumptions, which are subject to change.

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	3 Months Ended
	Aug. 27, 2017
Equity [Abstract]
STOCKHOLDERS' EQUITY	STOCKHOLDERS' EQUITY The following table presents a reconciliation of our stockholders' equity accounts for the thirteen weeks ended August 27, 2017 : Conagra Brands, Inc. Stockholders' Equity Common Shares Common Stock Additional Paid-in Capital Retained Earnings Accumulated Other Comprehensive Income (Loss) Treasury Stock Noncontrolling Interests Total Equity Balance at May 28, 2017 567.9 $ 2,839.7 $ 1,171.9 $ 4,247.0 $ (212.9 ) $ (4,054.9 ) $ 87.0 $ 4,077.8 Stock option and incentive plans (12.0 ) 0.4 17.7 6.1 Spinoff of Lamb Weston 1.0 1.0 Currency translation adjustment, net 31.5 1.0 32.5 Repurchase of common shares (300.0 ) (300.0 ) Unrealized gain on securities 0.2 0.2 Activities of noncontrolling interests 0.8 0.8 Dividends declared on common stock; $0.2125 per share (88.3 ) (88.3 ) Net income attributable to Conagra Brands, Inc. 152.5 152.5 Balance at August 27, 2017 567.9 $ 2,839.7 $ 1,159.9 $ 4,312.6 $ (181.2 ) $ (4,337.2 ) $ 88.8 $ 3,882.6

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	3 Months Ended
	Aug. 27, 2017
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS FASB guidance establishes a three-level fair value hierarchy based upon the assumptions (inputs) used to price assets or liabilities. The three levels of inputs used to measure fair value are as follows: Level 1 — Unadjusted quoted prices in active markets for identical assets or liabilities, Level 2 — Observable inputs other than those included in Level 1, such as quoted prices for similar assets and liabilities in active markets or quoted prices for identical assets or liabilities in inactive markets, and Level 3 — Unobservable inputs reflecting our own assumptions and best estimate of what inputs market participants would use in pricing the asset or liability. The fair values of our Level 2 derivative instruments were determined using valuation models that use market observable inputs including interest rate curves and both forward and spot prices for currencies and commodities. Derivative assets and liabilities included in Level 2 primarily represent commodity and foreign currency option and forward contracts. The following table presents our financial assets and liabilities measured at fair value on a recurring basis, based upon the level within the fair value hierarchy in which the fair value measurements fall, as of August 27, 2017 : Level 1 Level 2 Level 3 Net Value Assets: Derivative assets $ 3.8 $ 0.3 $ — $ 4.1 Available-for-sale securities 3.8 — — 3.8 Total assets $ 7.6 $ 0.3 $ — $ 7.9 Liabilities: Derivative liabilities $ — $ 6.3 $ — $ 6.3 Deferred compensation liabilities 50.5 — — 50.5 Total liabilities $ 50.5 $ 6.3 $ — $ 56.8 The following table presents our financial assets and liabilities measured at fair value on a recurring basis, based upon the level within the fair value hierarchy in which the fair value measurements fall, as of May 28, 2017 : Level 1 Level 2 Level 3 Net Value Assets: Derivative assets $ 2.0 $ 0.3 $ — $ 2.3 Available-for-sale securities 3.5 — — 3.5 Total assets $ 5.5 $ 0.3 $ — $ 5.8 Liabilities: Derivative liabilities $ — $ 1.3 $ — $ 1.3 Deferred compensation liabilities 47.2 — — 47.2 Total liabilities $ 47.2 $ 1.3 $ — $ 48.5 Certain assets and liabilities, including long-lived assets, goodwill, asset retirement obligations, and cost and equity investments, are measured at fair value on a nonrecurring basis. During the first quarter of fiscal 2018, a charge of $4.7 million was recognized in the Corporate segment for the impairment of certain long-lived assets. The impairment was measured based upon the estimated sales price of the assets. In the first quarter of fiscal 2017, we recognized a goodwill impairment charge of $139.2 million in the International segment. See Note 7 for discussion of the methodology employed to measure this impairment. We also recognized an impairment of an indefinite-lived brand totaling $24.4 million in the International segment during the first quarter of fiscal 2017. The fair value of the brand was estimated using the "Relief From Royalty" method. The carrying amount of long-term debt (including current installments) was $2.97 billion as of August 27, 2017 and May 28, 2017 . Based on current market rates, the fair value of this debt (level 2 liabilities) at August 27, 2017 and May 28, 2017 , was estimated at $3.34 billion and $3.32 billion , respectively.

BUSINESS SEGMENTS AND RELATED I

BUSINESS SEGMENTS AND RELATED INFORMATION	3 Months Ended
	Aug. 27, 2017
Segment Reporting [Abstract]
BUSINESS SEGMENTS AND RELATED INFORMATION	BUSINESS SEGMENTS AND RELATED INFORMATION We reflect our results of operations in five reporting segments: Grocery & Snacks, Refrigerated & Frozen, International, Foodservice, and Commercial. In the second quarter of fiscal 2017, we completed the Spinoff of Lamb Weston. The Lamb Weston business had previously been included in the Commercial segment. The results of operations of the Lamb Weston business have been classified as discontinued operations for all periods presented. The Grocery & Snacks reporting segment principally includes branded, shelf-stable food products sold in various retail channels in the United States. The Refrigerated & Frozen reporting segment includes branded, temperature controlled food products sold in various retail channels in the United States. The International reporting segment principally includes branded food products, in various temperature states, sold in various retail and foodservice channels outside of the United States. The Foodservice reporting segment includes branded and customized food products, including meals, entrees, sauces and a variety of custom-manufactured culinary products packaged for sale to restaurants and other foodservice establishments in the United States. The Commercial reporting segment included commercially branded and private label food and ingredients, which were sold primarily to commercial, restaurant, foodservice, food manufacturing, and industrial customers. The segment's primary food items included a variety of vegetable, spice, and frozen bakery goods, which were sold under brands such as Spicetec Flavors & Seasonings ® . The Spicetec and JM Swank businesses were sold in the first quarter of fiscal 2017. We do not aggregate operating segments when determining our reporting segments. Intersegment sales have been recorded at amounts approximating market. Operating profit for each of the segments is based on net sales less all identifiable operating expenses. General corporate expense, net interest expense, and income taxes have been excluded from segment operations. Thirteen Weeks Ended August 27, August 28, Net sales Grocery & Snacks $ 745.8 $ 757.2 Refrigerated & Frozen 615.7 604.6 International 190.9 194.7 Foodservice 251.8 268.0 Commercial — 71.1 Total net sales $ 1,804.2 $ 1,895.6 Operating profit Grocery & Snacks $ 176.2 $ 180.5 Refrigerated & Frozen 101.9 92.2 International 18.9 (149.2 ) Foodservice 23.2 21.7 Commercial — 203.3 Total operating profit $ 320.2 $ 348.5 Equity method investment earnings 30.0 13.1 General corporate expense 40.2 35.6 Interest expense, net 36.4 58.2 Income tax expense 120.0 169.2 Income from continuing operations $ 153.6 $ 98.6 Less: Net income attributable to noncontrolling interests of continuing operations 0.8 0.2 Income from continuing operations attributable to Conagra Brands, Inc. $ 152.8 $ 98.4 Presentation of Derivative Gains (Losses) for Economic Hedges of Forecasted Cash Flows in Segment Results Derivatives used to manage commodity price risk and foreign currency risk are not designated for hedge accounting treatment. We believe these derivatives provide economic hedges of certain forecasted transactions. As such, these derivatives are recognized at fair market value with realized and unrealized gains and losses recognized in general corporate expenses. The gains and losses are subsequently recognized in the operating results of the reporting segments in the period in which the underlying transaction being economically hedged is included in earnings. In the event that management determines a particular derivative entered into as an economic hedge of a forecasted commodity purchase has ceased to function as an economic hedge, we cease recognizing further gains and losses on such derivatives in corporate expense and begin recognizing such gains and losses within segment operating results, immediately. The following table presents the net derivative gains (losses) from economic hedges of forecasted commodity consumption and the foreign currency risk of certain forecasted transactions, under this methodology: Thirteen Weeks Ended August 27, August 28, Net derivative losses incurred $ (7.4 ) $ (0.3 ) Less: Net derivative losses allocated to reporting segments (1.4 ) (1.0 ) Net derivative gains (losses) recognized in general corporate expenses $ (6.0 ) $ 0.7 Net derivative losses allocated to Grocery & Snacks $ (0.6 ) $ (0.4 ) Net derivative losses allocated to Refrigerated & Frozen — (0.2 ) Net derivative losses allocated to International (0.7 ) — Net derivative losses allocated to Foodservice (0.1 ) (0.3 ) Net derivative losses allocated to Commercial — (0.1 ) Net derivative losses included in segment operating profit $ (1.4 ) $ (1.0 ) As of August 27, 2017 , the cumulative amount of net derivative losses from economic hedges that had been recognized in general corporate expenses and not yet allocated to reporting segments was $9.0 million . This amount reflected net losses of $6.8 million incurred during the thirteen weeks ended August 27, 2017 , as well as net losses of $2.2 million incurred prior to fiscal 2018 . Based on our forecasts of the timing of recognition of the underlying hedged items, we expect to reclassify to segment operating results losses of $8.4 million in fiscal 2018 and losses of $0.6 million in fiscal 2019 and thereafter. Assets by Segment The majority of our manufacturing assets are shared across multiple reporting segments. Output from these facilities used by each reporting segment can change over time. Also, working capital balances are not tracked by reporting segment. Therefore, it is impracticable to allocate those assets to the reporting segments, as well as disclose total assets by segment. Total depreciation expense was $56.1 million and $58.8 million for the first quarter of fiscal 2018 and 2017 , respectively. Other Information Our largest customer, Wal-Mart Stores, Inc. and its affiliates, accounted for approximately 24% and 23% of consolidated net sales in the first quarter of fiscal 2018 and 2017 , respectively, primarily in the Grocery & Snacks and Refrigerated & Frozen segments. Wal-Mart Stores, Inc. and its affiliates accounted for approximately 24% and 26% of consolidated net receivables as of August 27, 2017 and May 28, 2017 , respectively, primarily in the Grocery & Snacks and Refrigerated & Frozen segments. We offer certain suppliers access to a third-party service that allows them to view our scheduled payments online. The third party service also allows 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-party, or any financial institutions concerning this service. All of our accounts payable remain as obligations to our suppliers as stated in our supplier agreements. As of August 27, 2017 , $58.8 million of our total accounts payable is payable to suppliers who utilize this third-party service.

SUMMARY OF SIGNIFICANT ACCOUN24

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Aug. 27, 2017
Accounting Policies [Abstract]
Basis of Consolidation	Basis of Consolidation — The condensed consolidated financial statements include the accounts of Conagra Brands, Inc. and all majority-owned subsidiaries. In addition, the accounts of all variable interest entities for which we have been determined to be the primary beneficiary are included in our condensed consolidated financial statements from the date such determination is made. All significant intercompany investments, accounts, and transactions have been eliminated.
Comprehensive Income	Comprehensive Income — Comprehensive income includes net income, currency translation adjustments, certain derivative-related activity, changes in the value of available-for-sale investments, and changes in prior service cost and net actuarial gains (losses) from pension (for amounts not in excess of the 10% corridor) and post-retirement health care plans. On foreign investments we deem to be essentially permanent in nature, we do not provide for taxes on currency translation adjustments arising from converting an investment denominated in foreign currency to U.S. dollars. When we determine that a foreign investment, as well as undistributed earnings, are no longer permanent in nature, estimated taxes will be provided for the related deferred tax liability (asset), if any, resulting from currency translation adjustments.
Cash and cash equivalents	Cash and cash equivalents — Cash and all highly liquid investments with an original maturity of three months or less at the date of acquisition, including short-term time deposits and government agency and corporate obligations, are classified as cash and cash equivalents.
Reclassifications and other changes	Reclassifications and other changes — Certain prior year amounts have been reclassified to conform with current year presentation.
Use of Estimates	Use of Estimates — Preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions. These estimates and assumptions affect reported amounts of assets, liabilities, revenues, and expenses as reflected in the condensed consolidated financial statements. Actual results could differ from these estimates.
Accounting Changes and Recently Issued Accounting Standards	Accounting Changes — In July 2015, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2015-11, Inventory , which requires an entity to measure inventory within the scope at the lower of cost and net realizable value. Net realizable value is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. We adopted this ASU prospectively in fiscal 2018. The adoption of this guidance did not have a material impact to our financial statements. Recently Issued Accounting Standards — In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers , which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The ASU will replace most existing revenue recognition guidance in U.S. GAAP. On July 9, 2015, the FASB deferred the effective date of the new revenue recognition standard by one year. Based on the FASB's ASU, we will apply the new revenue standard in our fiscal year 2019. Early adoption in our fiscal year 2018 is permitted. We are in the process of documenting the impact of the guidance on our current accounting policies and practices in order to identify material differences, if any, that would result from applying the new requirements to our revenue contracts. We continue to make progress on our revenue recognition review and are also in the process of evaluating the impact, if any, on changes to our business processes, systems, and controls to support recognition and disclosure requirements under the new guidance. We continue to evaluate the effect that ASU 2014-09 will have on our consolidated financial statements and related disclosures. The standard permits the use of either the retrospective or cumulative effect transition method. In January 2016, the FASB issued ASU 2016-01, Financial Instruments-Overall: Recognition and Measurement of Financial Assets and Financial Liabilities , which addresses certain aspects of recognition, measurement, presentation, and disclosure of financial instruments. The effective date for this standard is for fiscal years beginning after December 31, 2017. Early adoption is not permitted except for certain provisions. We do not expect ASU 2016-01 to have a material impact to our consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, Leases , Topic 842, which requires lessees to reflect most leases on their balance sheet as assets and obligations. The effective date for the standard is for fiscal years beginning after December 15, 2018. Early adoption is permitted. We are evaluating the effect that this standard will have on our consolidated financial statements and related disclosures. The standard is to be applied under the modified retrospective method, with elective reliefs, which requires application of the new guidance for all periods presented. In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows: Classification of Certain Cash Receipts and Cash Payments , which clarifies how companies present and classify certain cash receipts and cash payments in the statement of cash flows. The effective date for the standard is for fiscal years beginning after December 15, 2017. Early adoption is permitted. We do not expect ASU 2016-15 to have a material impact to our consolidated financial statements. In November 2016, the FASB issued ASU 2016-18, Statement of Cash Flows: Restricted Cash , which provides amendments to current guidance to address the classifications and presentation of changes in restricted cash in the statement of cash flows. The effective date for the standard is for fiscal years beginning after December 15, 2017. Early adoption is permitted. We do not expect ASU 2016-18 to have a material impact to our consolidated financial statements. In January 2017, the FASB issued ASU 2017-01, Business Combinations: Clarifying the Definition of a Business , which provides a new framework for determining whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The effective date for the standard is for fiscal years beginning after December 15, 2017. Early adoption is permitted. We do not expect ASU 2017-01 to have a material impact to our consolidated financial statements. In March 2017, the FASB issued ASU 2017-07, Retirement Benefits: Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost , which requires companies to present the service cost component of net benefit cost in the same line items in which they report compensation cost. Companies will present all other components of net benefit cost outside operating income, if this subtotal is presented. The effective date for the standard is for fiscal years beginning after December 15, 2017. Early adoption is permitted. We do not expect ASU 2017-07 to have a material impact to our financial statements. In August 2017, the FASB issued ASU 2017-12, Derivatives and Hedging: Targeted Improvements to Accounting for Hedging Activities , which improves the financial reporting of hedging relationships to better portray the economic results of an entity's risk management activities in its financial statements and make certain targeted improvements to simplify the application of the hedge accounting guidance in current GAAP. The amendments in this update better align an entity's risk management activities and financial reporting for hedging relationships through changes to both the designation and measurement guidance for qualifying hedging relationships and presentation of hedge results. The effective date for the standard is for fiscal years beginning after December 15, 2018. Early adoption is permitted. We are currently evaluating the impact of our pending adoption of this standard on our consolidated financial statements.

SUMMARY OF SIGNIFICANT ACCOUN25

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	3 Months Ended
	Aug. 27, 2017
Accounting Policies [Abstract]
Schedule of Accumulated Balances for Each Component of Other Comprehensive Income (Loss), Net of Tax	The following table details the accumulated balances for each component of other comprehensive income (loss), net of tax: August 27, 2017 May 28, 2017 Currency translation losses, net of reclassification adjustments $ (67.1 ) $ (98.6 ) Derivative adjustments, net of reclassification adjustments (1.1 ) (1.1 ) Unrealized losses on available-for-sale securities (0.1 ) (0.3 ) Pension and post-employment benefit obligations, net of reclassification adjustments (112.9 ) (112.9 ) Accumulated other comprehensive loss $ (181.2 ) $ (212.9 )
Summary of Reclassifications From Accumulated Other Comprehensive Income (Loss)	The following table summarizes the reclassifications from accumulated other comprehensive income (loss) into operations: Thirteen weeks ended Affected Line Item in the Condensed Consolidated Statement of Earnings 1 August 27, 2017 August 28, 2016 Pension and postretirement liabilities: Net prior service benefit $ (0.1 ) $ (0.9 ) Selling, general and administrative expenses (0.1 ) (0.9 ) Total before tax — 0.3 Income tax expense $ (0.1 ) $ (0.6 ) Net of tax 1 Amounts in parentheses indicate income recognized in the Condensed Consolidated Statements of Earnings.

DISCONTINUED OPERATIONS AND O26

DISCONTINUED OPERATIONS AND OTHER DIVESTITURES (Tables)	3 Months Ended
	Aug. 27, 2017
Discontinued Operations and Disposal Groups [Abstract]
Summary of Comparative Financial Results	The summary comparative financial results of the Lamb Weston business through the date of the Spinoff, included within discontinued operations, were as follows: Thirteen Weeks Ended August 27, 2017 August 28, 2016 Net sales $ — $ 771.9 Income (loss) from discontinued operations before income taxes and equity method investment earnings $ (0.3 ) $ 128.8 Income (loss) before income taxes and equity method investment earnings (0.3 ) 128.8 Income tax expense (benefit) (0.1 ) 49.5 Equity method investment earnings — 10.6 Income (loss) from discontinued operations, net of tax (0.2 ) 89.9 Less: Net income attributable to noncontrolling interests — 3.6 Net income (loss) from discontinued operations attributable to Conagra Brands, Inc. $ (0.2 ) $ 86.3
Schedule of Assets Classified as Held for Sale	The assets classified as held for sale reflected in our Condensed Consolidated Balance Sheets related to the Wesson ® oil business were as follows: August 27, 2017 May 28, 2017 Current assets $ 39.2 $ 35.5 Noncurrent assets (including goodwill of $74.5 million) 95.5 95.5

RESTRUCTURING ACTIVITIES (Table

RESTRUCTURING ACTIVITIES (Tables)	3 Months Ended
	Aug. 27, 2017
Restructuring and Related Activities [Abstract]
Schedule of Pre-Tax Expenses in Association with the SCAE Plan	We anticipate that we will recognize the following pre-tax expenses in association with the SCAE Plan related to our continuing operations (amounts include charges recognized from plan inception through the first quarter of fiscal 2018 ): Grocery & Snacks Refrigerated & Frozen International Foodservice Corporate Total Pension costs $ 32.9 $ 1.5 $ — $ — $ — $ 34.4 Accelerated depreciation 33.7 18.6 — — 1.2 53.5 Other cost of goods sold 9.2 2.1 — — — 11.3 Total cost of goods sold 75.8 22.2 — — 1.2 99.2 Severance and related costs, net 26.9 10.3 2.5 7.9 102.1 149.7 Fixed asset impairment (net of gains on disposal) 7.4 6.9 — — 11.2 25.5 Accelerated depreciation — — — — 4.4 4.4 Contract/lease cancellation expenses 0.8 0.6 0.6 — 72.6 74.6 Consulting/professional fees 0.9 0.4 0.1 — 52.7 54.1 Other selling, general and administrative expenses 15.0 3.2 — — 24.4 42.6 Total selling, general and administrative expenses 51.0 21.4 3.2 7.9 267.4 350.9 Consolidated total $ 126.8 $ 43.6 $ 3.2 $ 7.9 $ 268.6 $ 450.1 During the first quarter of fiscal 2018 , we recognized the following pre-tax expenses for the SCAE Plan related to our continuing operations: Grocery & Snacks Corporate Total Accelerated depreciation $ 1.2 $ — $ 1.2 Other cost of goods sold 1.1 — 1.1 Total cost of goods sold 2.3 — 2.3 Severance and related costs, net 2.0 — 2.0 Fixed asset impairment (net of gains on disposal) 0.1 4.4 4.5 Accelerated depreciation — 0.6 0.6 Consulting/professional fees — 0.2 0.2 Other selling, general and administrative expenses 1.8 — 1.8 Total selling, general and administrative expenses 3.9 5.2 9.1 Consolidated total $ 6.2 $ 5.2 $ 11.4 Included in the above table are $4.8 million of charges that have resulted or will result in cash outflows and $6.6 million in non-cash charges. We recognized the following cumulative (plan inception to August 27, 2017 ) pre-tax expenses related to the SCAE Plan related to our continuing operations in our Condensed Consolidated Statements of Earnings: Grocery & Snacks Refrigerated & Frozen International Foodservice Corporate Total Pension costs $ 32.9 $ 1.5 $ — $ — $ — $ 34.4 Accelerated depreciation 32.2 18.6 — — 1.2 52.0 Other cost of goods sold 6.1 2.1 — — — 8.2 Total cost of goods sold 71.2 22.2 — — 1.2 94.6 Severance and related costs, net 25.9 10.3 2.5 7.9 101.5 148.1 Fixed asset impairment (net of gains on disposal) 7.4 6.9 — — 11.2 25.5 Accelerated depreciation — — — — 3.2 3.2 Contract/lease cancellation expenses 0.8 0.6 0.6 — 71.3 73.3 Consulting/professional fees 0.9 0.4 0.1 — 51.4 52.8 Other selling, general and administrative expenses 13.0 3.2 — — 20.0 36.2 Total selling, general and administrative expenses 48.0 21.4 3.2 7.9 258.6 339.1 Consolidated total $ 119.2 $ 43.6 $ 3.2 $ 7.9 $ 259.8 $ 433.7
Schedule of Liabilities Recorded for the SCAE Plan	Liabilities recorded for the SCAE Plan related to our continuing operations and changes therein for the first quarter of fiscal 2018 were as follows: Balance at May 28, 2017 Costs Incurred and Charged to Expense Costs Paid or Otherwise Settled Changes in Estimates Balance at August 27, 2017 Pension costs $ 31.8 $ — $ — $ — $ 31.8 Severance and related costs 13.8 2.3 (4.4 ) (0.3 ) 11.4 Consulting/professional fees 0.6 0.2 (0.6 ) — 0.2 Contract/lease cancellation 11.6 — (1.7 ) — 9.9 Other costs 1.9 2.7 (3.2 ) — 1.4 Total $ 59.7 $ 5.2 $ (9.9 ) $ (0.3 ) $ 54.7

LONG-TERM DEBT AND REVOLVING 28

LONG-TERM DEBT AND REVOLVING CREDIT FACILITY (Tables)	3 Months Ended
	Aug. 27, 2017
Debt Disclosure [Abstract]
Schedule of Net Interest Expense from Continuing Operations	Net interest expense from continuing operations consists of: Thirteen weeks ended August 27, August 28, Long-term debt $ 38.1 $ 60.9 Short-term debt 0.4 0.2 Interest income (0.9 ) (0.7 ) Interest capitalized (1.2 ) (2.2 ) $ 36.4 $ 58.2

GOODWILL AND OTHER IDENTIFIAB29

GOODWILL AND OTHER IDENTIFIABLE INTANGIBLE ASSETS (Tables)	3 Months Ended
	Aug. 27, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Change in Carrying Amount of Goodwill	The change in the carrying amount of goodwill for the first quarter of fiscal 2018 was as follows: Grocery & Snacks Refrigerated & Frozen International Foodservice Total Balance as of May 28, 2017 $ 2,439.1 $ 1,037.3 $ 253.6 $ 571.1 $ 4,301.1 Purchase accounting adjustments (1.4 ) — — — (1.4 ) Currency translation — 0.9 1.1 — 2.0 Balance as of August 27, 2017 $ 2,437.7 $ 1,038.2 $ 254.7 $ 571.1 $ 4,301.7
Schedule of Other Identifiable Intangible Assets	Other identifiable intangible assets were as follows: August 27, 2017 May 28, 2017 Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Non-amortizing intangible assets $ 835.6 $ — $ 834.1 $ — Amortizing intangible assets 577.3 189.3 575.4 180.2 $ 1,412.9 $ 189.3 $ 1,409.5 $ 180.2

DERIVATIVE FINANCIAL INSTRUME30

DERIVATIVE FINANCIAL INSTRUMENTS (Tables)	3 Months Ended
	Aug. 27, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Assets and Liabilities and Amounts Representing Right to Reclaim or Obligation to Return Cash Collateral	Derivative assets and liabilities and amounts representing a right to reclaim cash collateral or an obligation to return cash collateral were reflected in our Condensed Consolidated Balance Sheets as follows: August 27, May 28, Prepaid expenses and other current assets $ 4.1 $ 2.3 Other accrued liabilities 6.3 1.3
Schedule of Derivative Assets and Liabilities on a Gross Basis	The following table presents our derivative assets and liabilities, at August 27, 2017 , on a gross basis, prior to the setoff of $1.3 million to total derivative assets and $1.3 million to total derivative liabilities where legal right of setoff existed: Derivative Assets Derivative Liabilities Balance Sheet Location Fair Value Balance Sheet Location Fair Value Commodity contracts Prepaid expenses and other current assets $ 5.1 Other accrued liabilities $ 1.4 Foreign exchange contracts Prepaid expenses and other current assets 0.3 Other accrued liabilities 6.1 Other Prepaid expenses and other current assets — Other accrued liabilities 0.1 Total derivatives not designated as hedging instruments $ 5.4 $ 7.6 The following table presents our derivative assets and liabilities at May 28, 2017 , on a gross basis, prior to the setoff of $0.5 million to total derivative assets and $1.4 million to total derivative liabilities where legal right of setoff existed: Derivative Assets Derivative Liabilities Balance Sheet Location Fair Value Balance Sheet Location Fair Value Commodity contracts Prepaid expenses and other current assets $ 2.6 Other accrued liabilities $ 1.4 Foreign exchange contracts Prepaid expenses and other current assets 0.2 Other accrued liabilities 1.1 Other Prepaid expenses and other current assets — Other accrued liabilities 0.2 Total derivatives not designated as hedging instruments $ 2.8 $ 2.7
Schedule of Location and Amount of Gain (Loss) from Derivatives Not Designated as Hedging Instruments	The location and amount of gain (loss) from derivatives not designated as hedging instruments in our Condensed Consolidated Statements of Earnings were as follows: Derivatives Not Designated as Hedging Instruments Location in Condensed Consolidated Statement of Earnings of Gain (Loss) Recognized on Derivatives Amount of Gain (Loss) Recognized on Derivatives in Condensed Consolidated Statement of Earnings for the Thirteen Weeks Ended August 27, 2017 August 28, 2016 Commodity contracts Cost of goods sold $ 0.6 $ (0.4 ) Foreign exchange contracts Cost of goods sold (8.0 ) 0.1 Foreign exchange contracts Selling, general and administrative expense 0.3 (1.2 ) Total loss from derivative instruments not designated as hedging instruments $ (7.1 ) $ (1.5 )

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	3 Months Ended
	Aug. 27, 2017
Earnings Per Share [Abstract]
Reconciliation of Income and Average Share Amounts Used to Compute Basic and Diluted Earnings Per Share	The following table reconciles the income and average share amounts used to compute both basic and diluted earnings per share: Thirteen weeks ended August 27, August 28, Net income available to Conagra Brands, Inc. common stockholders: Income from continuing operations attributable to Conagra Brands, Inc. common stockholders $ 152.8 $ 98.4 Income (loss) from discontinued operations, net of tax, attributable to Conagra Brands, Inc. common stockholders (0.3 ) 87.8 Net income attributable to Conagra Brands, Inc. common stockholders $ 152.5 $ 186.2 Less: Increase in redemption value of noncontrolling interests in excess of earnings allocated — 0.5 Net income available to Conagra Brands, Inc. common stockholders $ 152.5 $ 185.7 Weighted average shares outstanding: Basic weighted average shares outstanding 415.1 439.0 Add: Dilutive effect of stock options, restricted stock unit awards, and other dilutive securities 4.1 3.7 Diluted weighted average shares outstanding 419.2 442.7

INVENTORIES (Tables)

INVENTORIES (Tables)	3 Months Ended
	Aug. 27, 2017
Inventory Disclosure [Abstract]
Schedule of Major Classes of Inventories	The major classes of inventories were as follows: August 27, May 28, Raw materials and packaging $ 203.8 $ 182.1 Work in process 96.1 91.9 Finished goods 721.2 612.9 Supplies and other 47.7 47.3 Total $ 1,068.8 $ 934.2

PENSION AND POSTRETIREMENT BE33

PENSION AND POSTRETIREMENT BENEFITS (Tables)	3 Months Ended
	Aug. 27, 2017
Retirement Benefits [Abstract]
Components of Pension Benefit and Other Postretirement Benefit Costs	Components of pension benefit and other postretirement benefit costs are (includes amounts related to discontinued operations): Pension Benefits Thirteen Weeks Ended August 27, August 28, Service cost $ 12.7 $ 16.7 Interest cost 28.2 30.0 Expected return on plan assets (54.2 ) (53.8 ) Amortization of prior service cost 0.7 0.6 Benefit cost (benefit) — Company plans (12.6 ) (6.5 ) Pension benefit cost — multi-employer plans 1.5 2.3 Total benefit cost (benefit) $ (11.1 ) $ (4.2 ) Postretirement Benefits Thirteen Weeks Ended August 27, August 28, Service cost $ — $ — Interest cost 0.9 1.1 Amortization of prior service benefit (0.8 ) (1.7 ) Recognized net actuarial loss — 0.1 Total cost (benefit) $ 0.1 $ (0.5 )

STOCKHOLDERS' EQUITY (Tables)

STOCKHOLDERS' EQUITY (Tables)	3 Months Ended
	Aug. 27, 2017
Equity [Abstract]
Reconciliation of Stockholders' Equity Accounts	The following table presents a reconciliation of our stockholders' equity accounts for the thirteen weeks ended August 27, 2017 : Conagra Brands, Inc. Stockholders' Equity Common Shares Common Stock Additional Paid-in Capital Retained Earnings Accumulated Other Comprehensive Income (Loss) Treasury Stock Noncontrolling Interests Total Equity Balance at May 28, 2017 567.9 $ 2,839.7 $ 1,171.9 $ 4,247.0 $ (212.9 ) $ (4,054.9 ) $ 87.0 $ 4,077.8 Stock option and incentive plans (12.0 ) 0.4 17.7 6.1 Spinoff of Lamb Weston 1.0 1.0 Currency translation adjustment, net 31.5 1.0 32.5 Repurchase of common shares (300.0 ) (300.0 ) Unrealized gain on securities 0.2 0.2 Activities of noncontrolling interests 0.8 0.8 Dividends declared on common stock; $0.2125 per share (88.3 ) (88.3 ) Net income attributable to Conagra Brands, Inc. 152.5 152.5 Balance at August 27, 2017 567.9 $ 2,839.7 $ 1,159.9 $ 4,312.6 $ (181.2 ) $ (4,337.2 ) $ 88.8 $ 3,882.6

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	3 Months Ended
	Aug. 27, 2017
Fair Value Disclosures [Abstract]
Schedule of Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis	The following table presents our financial assets and liabilities measured at fair value on a recurring basis, based upon the level within the fair value hierarchy in which the fair value measurements fall, as of August 27, 2017 : Level 1 Level 2 Level 3 Net Value Assets: Derivative assets $ 3.8 $ 0.3 $ — $ 4.1 Available-for-sale securities 3.8 — — 3.8 Total assets $ 7.6 $ 0.3 $ — $ 7.9 Liabilities: Derivative liabilities $ — $ 6.3 $ — $ 6.3 Deferred compensation liabilities 50.5 — — 50.5 Total liabilities $ 50.5 $ 6.3 $ — $ 56.8 The following table presents our financial assets and liabilities measured at fair value on a recurring basis, based upon the level within the fair value hierarchy in which the fair value measurements fall, as of May 28, 2017 : Level 1 Level 2 Level 3 Net Value Assets: Derivative assets $ 2.0 $ 0.3 $ — $ 2.3 Available-for-sale securities 3.5 — — 3.5 Total assets $ 5.5 $ 0.3 $ — $ 5.8 Liabilities: Derivative liabilities $ — $ 1.3 $ — $ 1.3 Deferred compensation liabilities 47.2 — — 47.2 Total liabilities $ 47.2 $ 1.3 $ — $ 48.5

BUSINESS SEGMENTS AND RELATED36

BUSINESS SEGMENTS AND RELATED INFORMATION (Tables)	3 Months Ended
	Aug. 27, 2017
Segment Reporting [Abstract]
Schedule of Segment Operations	General corporate expense, net interest expense, and income taxes have been excluded from segment operations. Thirteen Weeks Ended August 27, August 28, Net sales Grocery & Snacks $ 745.8 $ 757.2 Refrigerated & Frozen 615.7 604.6 International 190.9 194.7 Foodservice 251.8 268.0 Commercial — 71.1 Total net sales $ 1,804.2 $ 1,895.6 Operating profit Grocery & Snacks $ 176.2 $ 180.5 Refrigerated & Frozen 101.9 92.2 International 18.9 (149.2 ) Foodservice 23.2 21.7 Commercial — 203.3 Total operating profit $ 320.2 $ 348.5 Equity method investment earnings 30.0 13.1 General corporate expense 40.2 35.6 Interest expense, net 36.4 58.2 Income tax expense 120.0 169.2 Income from continuing operations $ 153.6 $ 98.6 Less: Net income attributable to noncontrolling interests of continuing operations 0.8 0.2 Income from continuing operations attributable to Conagra Brands, Inc. $ 152.8 $ 98.4
Schedule of Net Derivative Gains (Losses) from Economic Hedges of Forecasted Commodity Consumption and Foreign Currency Risk	The following table presents the net derivative gains (losses) from economic hedges of forecasted commodity consumption and the foreign currency risk of certain forecasted transactions, under this methodology: Thirteen Weeks Ended August 27, August 28, Net derivative losses incurred $ (7.4 ) $ (0.3 ) Less: Net derivative losses allocated to reporting segments (1.4 ) (1.0 ) Net derivative gains (losses) recognized in general corporate expenses $ (6.0 ) $ 0.7 Net derivative losses allocated to Grocery & Snacks $ (0.6 ) $ (0.4 ) Net derivative losses allocated to Refrigerated & Frozen — (0.2 ) Net derivative losses allocated to International (0.7 ) — Net derivative losses allocated to Foodservice (0.1 ) (0.3 ) Net derivative losses allocated to Commercial — (0.1 ) Net derivative losses included in segment operating profit $ (1.4 ) $ (1.0 )

SUMMARY OF SIGNIFICANT ACCOUN37

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details)	Nov. 09, 2016
Discontinued operations, spinoff | Lamb Weston
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Distribution of the Company's interest in Lamb Weston (as a percent)	100.00%

SUMMARY OF SIGNIFICANT ACCOUN38

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Accumulated Balances for Each Component of Other Comprehensive Income (Loss), Net of Tax (Details) - USD ($) $ in Millions	Aug. 27, 2017	May 28, 2017
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated balances	$ 3,882.6	$ 4,077.8
Currency translation losses, net of reclassification adjustments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated balances	(67.1)	(98.6)
Derivative adjustments, net of reclassification adjustments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated balances	(1.1)	(1.1)
Unrealized losses on available-for-sale securities
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated balances	(0.1)	(0.3)
Pension and post-employment benefit obligations, net of reclassification adjustments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated balances	(112.9)	(112.9)
Accumulated other comprehensive loss
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated balances	$ (181.2)	$ (212.9)

SUMMARY OF SIGNIFICANT ACCOUN39

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Summary of Reclassifications From Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended
	Aug. 27, 2017	Aug. 28, 2016
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Selling, general and administrative expenses	$ 239	$ 231.7
Income from continuing operations before income taxes and equity method investment earnings	243.6	254.7
Income tax expense	(120)	(169.2)
Net income attributable to Conagra Brands, Inc.	152.5	186.2
Reclassification out of accumulated other comprehensive loss | Net prior service benefit
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Selling, general and administrative expenses	(0.1)	(0.9)
Income from continuing operations before income taxes and equity method investment earnings	(0.1)	(0.9)
Income tax expense	0	0.3
Net income attributable to Conagra Brands, Inc.	$ (0.1)	$ (0.6)

ACQUISITIONS (Details)

ACQUISITIONS (Details) - USD ($) $ in Millions	1 Months Ended		3 Months Ended	4 Months Ended
	Apr. 30, 2017	Sep. 30, 2016	Aug. 27, 2017	Dec. 31, 2017	May 28, 2017
Business Acquisition [Line Items]
Classified as goodwill			$ 4,301.7		$ 4,301.1
Thanasi Foods, LLC and BIGS LLC
Business Acquisition [Line Items]
Cash payment for businesses, net of cash acquired	$ 217.6
Classified as goodwill	133.4
Deductible for income tax purposes	70.9
Classified as other intangible assets	$ 81.2
Frontera Foods, Inc. and Red Fork LLC
Business Acquisition [Line Items]
Cash payment for businesses, net of cash acquired		$ 108.1
Classified as goodwill		39.5
Classified as other intangible assets		$ 66.7
Angie's Artisan Treats, LLC | Scenario, Forecast
Business Acquisition [Line Items]
Transaction value				$ 250
Frontera Foods, Inc. and Thanasi Foods LLC
Business Acquisition [Line Items]
Net sales			$ 31

DISCONTINUED OPERATIONS AND O41

DISCONTINUED OPERATIONS AND OTHER DIVESTITURES - Summary of Comparative Financial Results, Income Statement Items (Details) - USD ($) $ in Millions	3 Months Ended
	Aug. 27, 2017	Aug. 28, 2016
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Equity method investment earnings	$ 30	$ 13.1
Income (loss) from discontinued operations, net of tax	(0.3)	91.4
Net income (loss) from discontinued operations attributable to Conagra Brands, Inc.	(0.3)	87.8
Lamb Weston | Discontinued operations, spinoff
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net sales	0	771.9
Income (loss) from discontinued operations before income taxes and equity method investment earnings	(0.3)	128.8
Income (loss) before income taxes and equity method investment earnings	(0.3)	128.8
Income tax expense (benefit)	(0.1)	49.5
Equity method investment earnings	0	10.6
Income (loss) from discontinued operations, net of tax	(0.2)	89.9
Less: Net income attributable to noncontrolling interests	0	3.6
Net income (loss) from discontinued operations attributable to Conagra Brands, Inc.	(0.2)	86.3
Private Brands | Discontinued operations, disposed of by sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net income (loss) from discontinued operations attributable to Conagra Brands, Inc.	$ (0.1)	$ 1.5

DISCONTINUED OPERATIONS AND O42

DISCONTINUED OPERATIONS AND OTHER DIVESTITURES - Lamb Weston Spinoff (Narrative) (Details) - USD ($) $ in Millions	Nov. 09, 2016	Aug. 27, 2017	Aug. 28, 2016
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash payment received from Lamb Weston		$ 0	$ 486.3
Lamb Weston | Discontinued operations, spinoff
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Expenses in connection with the Spinoff primarily related to professional fees and contract services			$ 9.8
Total assets (net of cash assumed) transferred	$ 2,280
Total liabilities (including debt) transferred	2,980
Debt assumed	2,460
Cash payment received from Lamb Weston	$ 823.5
Transition services agreement | Spinoff | Lamb Weston
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income from transition services agreement		$ 1.3

DISCONTINUED OPERATIONS AND O43

DISCONTINUED OPERATIONS AND OTHER DIVESTITURES - Private Brands Operations (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Aug. 27, 2017	Aug. 28, 2016	Feb. 01, 2016
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
After-tax (loss) income	$ (0.3)	$ 87.8
Private Brands | Discontinued operations, disposed of by sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash price for disposition			$ 2,600
After-tax (loss) income	(0.1)	1.5
Pre-tax gain	0.1	0.8
TreeHouse Foods, Inc. | Buyer of Private Brands Operations | Transition services agreement
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income from transition services agreement	$ 1.7	$ 6.1

DISCONTINUED OPERATIONS AND O44

DISCONTINUED OPERATIONS AND OTHER DIVESTITURES - Other Divestitures (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended			6 Months Ended
	Aug. 27, 2017	Feb. 26, 2017	Aug. 28, 2016	Mar. 31, 2018	May 28, 2017
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Pre-tax gains from sales of businesses	$ 0		$ 198.2
Noncurrent assets classified as held for sale	100.5				$ 107.1
Not discontinued operations, disposed of by sale | Spicetec | Commercial
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash proceeds from sales of businesses, net of cash included			327
Pre-tax gains from sales of businesses			145
Not discontinued operations, disposed of by sale | JM Swank | Commercial
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash proceeds from sales of businesses, net of cash included			159.3
Pre-tax gains from sales of businesses			$ 53.2
Not discontinued operations, disposed of by sale | Spicetec and JM Swank | Commercial
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash proceeds from sales of businesses, net of cash included		$ 2.7
Held-for-sale, not discontinued operations | Wesson
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Noncurrent assets classified as held for sale	95.5				95.5
Held-for-sale, not discontinued operations | Other long-lived assets | Corporate
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Noncurrent assets classified as held for sale	$ 5				$ 11.6
Scenario, Forecast | Held-for-sale, not discontinued operations | Wesson
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash proceeds from sales of businesses, net of cash included				$ 285

DISCONTINUED OPERATIONS AND O45

DISCONTINUED OPERATIONS AND OTHER DIVESTITURES - Schedule of Assets Classified as Held for Sale (Details) - USD ($) $ in Millions	Aug. 27, 2017	May 28, 2017
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total current assets	$ 39.2	$ 35.5
Total noncurrent assets	100.5	107.1
Wesson | Held-for-sale, not discontinued operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total current assets	39.2	35.5
Total noncurrent assets	95.5	95.5
Goodwill	$ 74.5	$ 74.5

RESTRUCTURING ACTIVITIES - Narr

RESTRUCTURING ACTIVITIES - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Aug. 27, 2017	Aug. 28, 2016	Feb. 28, 2016
Discontinued operations, disposed of by sale | Private Brands
Restructuring Cost and Reserve [Line Items]
Charges that have resulted or will result in cash outflows from plan inception			$ 84.5
Non-cash charges from plan inception			45.7
Pre-tax expenses from plan inception			$ 130.2
Discontinued operations, spinoff | Lamb Weston
Restructuring Cost and Reserve [Line Items]
Charges that have resulted or will result in cash outflows from plan inception	$ 2.1
SCAE Plan
Restructuring Cost and Reserve [Line Items]
Approved expenses (up to) in connection with the SCAE Plan	900.9
Charges incurred or expected to be incurred	450.1
Cash charges incurred or expected to be incurred	303.3
Non-cash charges incurred or expected to be incurred	146.8
Recognized charges	11.4	$ 14.1
Charges that have resulted or will result in cash outflows	4.8
Non-cash charges	6.6
Charges that have resulted or will result in cash outflows from plan inception	290.3
Non-cash charges from plan inception	$ 143.4

RESTRUCTURING ACTIVITIES - Sche

RESTRUCTURING ACTIVITIES - Schedule of Pre-Tax Expenses in Association with the SCAE Plan (Details) - SCAE Plan - USD ($) $ in Millions	3 Months Ended
	Aug. 27, 2017	Aug. 28, 2016
Restructuring Cost and Reserve [Line Items]
Anticipated pre-tax expenses	$ 450.1
Recognized pre-tax expenses	11.4	$ 14.1
Cumulative pre-tax expenses	433.7
Reporting segments | Grocery & Snacks
Restructuring Cost and Reserve [Line Items]
Anticipated pre-tax expenses	126.8
Recognized pre-tax expenses	6.2
Cumulative pre-tax expenses	119.2
Reporting segments | Refrigerated & Frozen
Restructuring Cost and Reserve [Line Items]
Anticipated pre-tax expenses	43.6
Cumulative pre-tax expenses	43.6
Reporting segments | International
Restructuring Cost and Reserve [Line Items]
Anticipated pre-tax expenses	3.2
Cumulative pre-tax expenses	3.2
Reporting segments | Foodservice
Restructuring Cost and Reserve [Line Items]
Anticipated pre-tax expenses	7.9
Cumulative pre-tax expenses	7.9
Corporate
Restructuring Cost and Reserve [Line Items]
Anticipated pre-tax expenses	268.6
Recognized pre-tax expenses	5.2
Cumulative pre-tax expenses	259.8
Total cost of goods sold
Restructuring Cost and Reserve [Line Items]
Anticipated pre-tax expenses	99.2
Recognized pre-tax expenses	2.3
Cumulative pre-tax expenses	94.6
Total cost of goods sold | Reporting segments | Grocery & Snacks
Restructuring Cost and Reserve [Line Items]
Anticipated pre-tax expenses	75.8
Recognized pre-tax expenses	2.3
Cumulative pre-tax expenses	71.2
Total cost of goods sold | Reporting segments | Refrigerated & Frozen
Restructuring Cost and Reserve [Line Items]
Anticipated pre-tax expenses	22.2
Cumulative pre-tax expenses	22.2
Total cost of goods sold | Reporting segments | International
Restructuring Cost and Reserve [Line Items]
Anticipated pre-tax expenses	0
Cumulative pre-tax expenses	0
Total cost of goods sold | Reporting segments | Foodservice
Restructuring Cost and Reserve [Line Items]
Anticipated pre-tax expenses	0
Cumulative pre-tax expenses	0
Total cost of goods sold | Corporate
Restructuring Cost and Reserve [Line Items]
Anticipated pre-tax expenses	1.2
Recognized pre-tax expenses	0
Cumulative pre-tax expenses	1.2
Pension costs
Restructuring Cost and Reserve [Line Items]
Anticipated pre-tax expenses	34.4
Cumulative pre-tax expenses	34.4
Pension costs | Reporting segments | Grocery & Snacks
Restructuring Cost and Reserve [Line Items]
Anticipated pre-tax expenses	32.9
Cumulative pre-tax expenses	32.9
Pension costs | Reporting segments | Refrigerated & Frozen
Restructuring Cost and Reserve [Line Items]
Anticipated pre-tax expenses	1.5
Cumulative pre-tax expenses	1.5
Pension costs | Reporting segments | International
Restructuring Cost and Reserve [Line Items]
Anticipated pre-tax expenses	0
Cumulative pre-tax expenses	0
Pension costs | Reporting segments | Foodservice
Restructuring Cost and Reserve [Line Items]
Anticipated pre-tax expenses	0
Cumulative pre-tax expenses	0
Pension costs | Corporate
Restructuring Cost and Reserve [Line Items]
Anticipated pre-tax expenses	0
Cumulative pre-tax expenses	0
Accelerated depreciation
Restructuring Cost and Reserve [Line Items]
Anticipated pre-tax expenses	53.5
Recognized pre-tax expenses	1.2
Cumulative pre-tax expenses	52
Accelerated depreciation | Reporting segments | Grocery & Snacks
Restructuring Cost and Reserve [Line Items]
Anticipated pre-tax expenses	33.7
Recognized pre-tax expenses	1.2
Cumulative pre-tax expenses	32.2
Accelerated depreciation | Reporting segments | Refrigerated & Frozen
Restructuring Cost and Reserve [Line Items]
Anticipated pre-tax expenses	18.6
Cumulative pre-tax expenses	18.6
Accelerated depreciation | Reporting segments | International
Restructuring Cost and Reserve [Line Items]
Anticipated pre-tax expenses	0
Cumulative pre-tax expenses	0
Accelerated depreciation | Reporting segments | Foodservice
Restructuring Cost and Reserve [Line Items]
Anticipated pre-tax expenses	0
Cumulative pre-tax expenses	0
Accelerated depreciation | Corporate
Restructuring Cost and Reserve [Line Items]
Anticipated pre-tax expenses	1.2
Recognized pre-tax expenses	0
Cumulative pre-tax expenses	1.2
Other cost of goods sold
Restructuring Cost and Reserve [Line Items]
Anticipated pre-tax expenses	11.3
Recognized pre-tax expenses	1.1
Cumulative pre-tax expenses	8.2
Other cost of goods sold | Reporting segments | Grocery & Snacks
Restructuring Cost and Reserve [Line Items]
Anticipated pre-tax expenses	9.2
Recognized pre-tax expenses	1.1
Cumulative pre-tax expenses	6.1
Other cost of goods sold | Reporting segments | Refrigerated & Frozen
Restructuring Cost and Reserve [Line Items]
Anticipated pre-tax expenses	2.1
Cumulative pre-tax expenses	2.1
Other cost of goods sold | Reporting segments | International
Restructuring Cost and Reserve [Line Items]
Anticipated pre-tax expenses	0
Cumulative pre-tax expenses	0
Other cost of goods sold | Reporting segments | Foodservice
Restructuring Cost and Reserve [Line Items]
Anticipated pre-tax expenses	0
Cumulative pre-tax expenses	0
Other cost of goods sold | Corporate
Restructuring Cost and Reserve [Line Items]
Anticipated pre-tax expenses	0
Recognized pre-tax expenses	0
Cumulative pre-tax expenses	0
Total selling, general and administrative expenses
Restructuring Cost and Reserve [Line Items]
Anticipated pre-tax expenses	350.9
Recognized pre-tax expenses	9.1
Cumulative pre-tax expenses	339.1
Total selling, general and administrative expenses | Reporting segments | Grocery & Snacks
Restructuring Cost and Reserve [Line Items]
Anticipated pre-tax expenses	51
Recognized pre-tax expenses	3.9
Cumulative pre-tax expenses	48
Total selling, general and administrative expenses | Reporting segments | Refrigerated & Frozen
Restructuring Cost and Reserve [Line Items]
Anticipated pre-tax expenses	21.4
Cumulative pre-tax expenses	21.4
Total selling, general and administrative expenses | Reporting segments | International
Restructuring Cost and Reserve [Line Items]
Anticipated pre-tax expenses	3.2
Cumulative pre-tax expenses	3.2
Total selling, general and administrative expenses | Reporting segments | Foodservice
Restructuring Cost and Reserve [Line Items]
Anticipated pre-tax expenses	7.9
Cumulative pre-tax expenses	7.9
Total selling, general and administrative expenses | Corporate
Restructuring Cost and Reserve [Line Items]
Anticipated pre-tax expenses	267.4
Recognized pre-tax expenses	5.2
Cumulative pre-tax expenses	258.6
Severance and related costs, net
Restructuring Cost and Reserve [Line Items]
Anticipated pre-tax expenses	149.7
Recognized pre-tax expenses	2
Cumulative pre-tax expenses	148.1
Severance and related costs, net | Reporting segments | Grocery & Snacks
Restructuring Cost and Reserve [Line Items]
Anticipated pre-tax expenses	26.9
Recognized pre-tax expenses	2
Cumulative pre-tax expenses	25.9
Severance and related costs, net | Reporting segments | Refrigerated & Frozen
Restructuring Cost and Reserve [Line Items]
Anticipated pre-tax expenses	10.3
Cumulative pre-tax expenses	10.3
Severance and related costs, net | Reporting segments | International
Restructuring Cost and Reserve [Line Items]
Anticipated pre-tax expenses	2.5
Cumulative pre-tax expenses	2.5
Severance and related costs, net | Reporting segments | Foodservice
Restructuring Cost and Reserve [Line Items]
Anticipated pre-tax expenses	7.9
Cumulative pre-tax expenses	7.9
Severance and related costs, net | Corporate
Restructuring Cost and Reserve [Line Items]
Anticipated pre-tax expenses	102.1
Recognized pre-tax expenses	0
Cumulative pre-tax expenses	101.5
Fixed asset impairment (net of gains on disposal)
Restructuring Cost and Reserve [Line Items]
Anticipated pre-tax expenses	25.5
Recognized pre-tax expenses	4.5
Cumulative pre-tax expenses	25.5
Fixed asset impairment (net of gains on disposal) | Reporting segments | Grocery & Snacks
Restructuring Cost and Reserve [Line Items]
Anticipated pre-tax expenses	7.4
Recognized pre-tax expenses	0.1
Cumulative pre-tax expenses	7.4
Fixed asset impairment (net of gains on disposal) | Reporting segments | Refrigerated & Frozen
Restructuring Cost and Reserve [Line Items]
Anticipated pre-tax expenses	6.9
Cumulative pre-tax expenses	6.9
Fixed asset impairment (net of gains on disposal) | Reporting segments | International
Restructuring Cost and Reserve [Line Items]
Anticipated pre-tax expenses	0
Cumulative pre-tax expenses	0
Fixed asset impairment (net of gains on disposal) | Reporting segments | Foodservice
Restructuring Cost and Reserve [Line Items]
Anticipated pre-tax expenses	0
Cumulative pre-tax expenses	0
Fixed asset impairment (net of gains on disposal) | Corporate
Restructuring Cost and Reserve [Line Items]
Anticipated pre-tax expenses	11.2
Recognized pre-tax expenses	4.4
Cumulative pre-tax expenses	11.2
Accelerated depreciation
Restructuring Cost and Reserve [Line Items]
Anticipated pre-tax expenses	4.4
Recognized pre-tax expenses	0.6
Cumulative pre-tax expenses	3.2
Accelerated depreciation | Reporting segments | Grocery & Snacks
Restructuring Cost and Reserve [Line Items]
Anticipated pre-tax expenses	0
Recognized pre-tax expenses	0
Cumulative pre-tax expenses	0
Accelerated depreciation | Reporting segments | Refrigerated & Frozen
Restructuring Cost and Reserve [Line Items]
Anticipated pre-tax expenses	0
Cumulative pre-tax expenses	0
Accelerated depreciation | Reporting segments | International
Restructuring Cost and Reserve [Line Items]
Anticipated pre-tax expenses	0
Cumulative pre-tax expenses	0
Accelerated depreciation | Reporting segments | Foodservice
Restructuring Cost and Reserve [Line Items]
Anticipated pre-tax expenses	0
Cumulative pre-tax expenses	0
Accelerated depreciation | Corporate
Restructuring Cost and Reserve [Line Items]
Anticipated pre-tax expenses	4.4
Recognized pre-tax expenses	0.6
Cumulative pre-tax expenses	3.2
Contract/lease cancellation expenses
Restructuring Cost and Reserve [Line Items]
Anticipated pre-tax expenses	74.6
Cumulative pre-tax expenses	73.3
Contract/lease cancellation expenses | Reporting segments | Grocery & Snacks
Restructuring Cost and Reserve [Line Items]
Anticipated pre-tax expenses	0.8
Cumulative pre-tax expenses	0.8
Contract/lease cancellation expenses | Reporting segments | Refrigerated & Frozen
Restructuring Cost and Reserve [Line Items]
Anticipated pre-tax expenses	0.6
Cumulative pre-tax expenses	0.6
Contract/lease cancellation expenses | Reporting segments | International
Restructuring Cost and Reserve [Line Items]
Anticipated pre-tax expenses	0.6
Cumulative pre-tax expenses	0.6
Contract/lease cancellation expenses | Reporting segments | Foodservice
Restructuring Cost and Reserve [Line Items]
Anticipated pre-tax expenses	0
Cumulative pre-tax expenses	0
Contract/lease cancellation expenses | Corporate
Restructuring Cost and Reserve [Line Items]
Anticipated pre-tax expenses	72.6
Cumulative pre-tax expenses	71.3
Consulting/professional fees
Restructuring Cost and Reserve [Line Items]
Anticipated pre-tax expenses	54.1
Recognized pre-tax expenses	0.2
Cumulative pre-tax expenses	52.8
Consulting/professional fees | Reporting segments | Grocery & Snacks
Restructuring Cost and Reserve [Line Items]
Anticipated pre-tax expenses	0.9
Recognized pre-tax expenses	0
Cumulative pre-tax expenses	0.9
Consulting/professional fees | Reporting segments | Refrigerated & Frozen
Restructuring Cost and Reserve [Line Items]
Anticipated pre-tax expenses	0.4
Cumulative pre-tax expenses	0.4
Consulting/professional fees | Reporting segments | International
Restructuring Cost and Reserve [Line Items]
Anticipated pre-tax expenses	0.1
Cumulative pre-tax expenses	0.1
Consulting/professional fees | Reporting segments | Foodservice
Restructuring Cost and Reserve [Line Items]
Anticipated pre-tax expenses	0
Cumulative pre-tax expenses	0
Consulting/professional fees | Corporate
Restructuring Cost and Reserve [Line Items]
Anticipated pre-tax expenses	52.7
Recognized pre-tax expenses	0.2
Cumulative pre-tax expenses	51.4
Other selling, general and administrative expenses
Restructuring Cost and Reserve [Line Items]
Anticipated pre-tax expenses	42.6
Recognized pre-tax expenses	1.8
Cumulative pre-tax expenses	36.2
Other selling, general and administrative expenses | Reporting segments | Grocery & Snacks
Restructuring Cost and Reserve [Line Items]
Anticipated pre-tax expenses	15
Recognized pre-tax expenses	1.8
Cumulative pre-tax expenses	13
Other selling, general and administrative expenses | Reporting segments | Refrigerated & Frozen
Restructuring Cost and Reserve [Line Items]
Anticipated pre-tax expenses	3.2
Cumulative pre-tax expenses	3.2
Other selling, general and administrative expenses | Reporting segments | International
Restructuring Cost and Reserve [Line Items]
Anticipated pre-tax expenses	0
Cumulative pre-tax expenses	0
Other selling, general and administrative expenses | Reporting segments | Foodservice
Restructuring Cost and Reserve [Line Items]
Anticipated pre-tax expenses	0
Cumulative pre-tax expenses	0
Other selling, general and administrative expenses | Corporate
Restructuring Cost and Reserve [Line Items]
Anticipated pre-tax expenses	24.4
Recognized pre-tax expenses	0
Cumulative pre-tax expenses	$ 20

RESTRUCTURING ACTIVITIES - Sc48

RESTRUCTURING ACTIVITIES - Schedule of Liabilities Recorded for the SCAE Plan (Details) - SCAE Plan $ in Millions	3 Months Ended
	Aug. 27, 2017USD ($)
Restructuring Cost and Reserve
Beginning balance	$ 59.7
Costs Incurred and Charged to Expense	5.2
Costs Paid or Otherwise Settled	(9.9)
Changes in Estimates	(0.3)
Ending balance	54.7
Pension costs
Restructuring Cost and Reserve
Beginning balance	31.8
Costs Incurred and Charged to Expense	0
Costs Paid or Otherwise Settled	0
Changes in Estimates	0
Ending balance	31.8
Severance and related costs
Restructuring Cost and Reserve
Beginning balance	13.8
Costs Incurred and Charged to Expense	2.3
Costs Paid or Otherwise Settled	(4.4)
Changes in Estimates	(0.3)
Ending balance	11.4
Consulting/professional fees
Restructuring Cost and Reserve
Beginning balance	0.6
Costs Incurred and Charged to Expense	0.2
Costs Paid or Otherwise Settled	(0.6)
Changes in Estimates	0
Ending balance	0.2
Contract/lease cancellation
Restructuring Cost and Reserve
Beginning balance	11.6
Costs Incurred and Charged to Expense	0
Costs Paid or Otherwise Settled	(1.7)
Changes in Estimates	0
Ending balance	9.9
Other costs
Restructuring Cost and Reserve
Beginning balance	1.9
Costs Incurred and Charged to Expense	2.7
Costs Paid or Otherwise Settled	(3.2)
Changes in Estimates	0
Ending balance	$ 1.4

LONG-TERM DEBT AND REVOLVING 49

LONG-TERM DEBT AND REVOLVING CREDIT FACILITY - Narrative (Details) - USD ($)	Nov. 09, 2016	Aug. 27, 2017	Feb. 26, 2017	Aug. 28, 2016
Debt Instrument [Line Items]
Principal balance of senior notes repaid		$ 2,300,000		$ 553,900,000
Senior notes
Debt Instrument [Line Items]
Net loss as a cost of early retirement of debt	$ 60,600,000
Senior notes | 5.819% senior notes due 2017
Debt Instrument [Line Items]
Retirement of senior notes	250,200,000
Senior notes | 7.0% senior notes due 2019
Debt Instrument [Line Items]
Retirement of senior notes	86,900,000
Senior notes | 1.9% senior notes due 2018
Debt Instrument [Line Items]
Retirement of senior notes	880,400,000
Senior notes | 2.1% senior notes due 2018
Debt Instrument [Line Items]
Retirement of senior notes	154,900,000
Senior notes | 4.95% senior notes due 2020
Debt Instrument [Line Items]
Retirement of senior notes	71,100,000
Discontinued operations, spinoff | Lamb Weston
Debt Instrument [Line Items]
Aggregate principal amount of senior notes issued by Lamb Weston	$ 1,540,000,000
Senior notes
Debt Instrument [Line Items]
Net loss as a cost of early retirement of debt			$ 32,700,000
Senior notes | 5.819% senior notes due 2017
Debt Instrument [Line Items]
Principal balance of senior notes repaid			$ 224,800,000
Stated interest rate	5.819%		5.819%
Senior notes | 7.0% senior notes due 2019
Debt Instrument [Line Items]
Principal balance of senior notes repaid			$ 248,200,000
Stated interest rate	7.00%		7.00%
Senior notes | 1.9% senior notes due 2018
Debt Instrument [Line Items]
Stated interest rate	1.90%
Senior notes | 2.1% senior notes due 2018
Debt Instrument [Line Items]
Stated interest rate	2.10%
Senior notes | 4.95% senior notes due 2020
Debt Instrument [Line Items]
Stated interest rate	4.95%
Floating rate notes
Debt Instrument [Line Items]
Repayment of floating rate notes				$ 550,000,000
The Facility
Debt Instrument [Line Items]
Maximum aggregate principal amount outstanding under revolving credit facility		1,250,000,000
Maximum aggregate principal amount outstanding after increase with consent of lenders		$ 1,750,000,000

LONG-TERM DEBT AND REVOLVING 50

LONG-TERM DEBT AND REVOLVING CREDIT FACILITY - Schedule of Net Interest Expense from Continuing Operations (Details) - USD ($) $ in Millions	3 Months Ended
	Aug. 27, 2017	Aug. 28, 2016
Debt Disclosure [Abstract]
Long-term debt	$ 38.1	$ 60.9
Short-term debt	0.4	0.2
Interest income	(0.9)	(0.7)
Interest capitalized	(1.2)	(2.2)
Net interest expense	$ 36.4	$ 58.2

VARIABLE INTEREST ENTITIES (Det

VARIABLE INTEREST ENTITIES (Details) - USD ($) $ in Millions	3 Months Ended
	Aug. 27, 2017	May 28, 2017
Variable Interest Entity [Line Items]
Contingent put options, general exercise period	30 days
Loss on lease put option
Variable Interest Entity [Line Items]
Contingent put options, general exercise period	30 days
Estimated amount by which put prices exceeded the fair values of the related properties	$ 51.8	$ 51.8
Accrued put cost	$ 9.3	$ 8.4

GOODWILL AND OTHER IDENTIFIAB52

GOODWILL AND OTHER IDENTIFIABLE INTANGIBLE ASSETS - Schedule of Change in Carrying Amount of Goodwill (Details) $ in Millions	3 Months Ended
	Aug. 27, 2017USD ($)
Goodwill
Balance as of beginning of period	$ 4,301.1
Purchase accounting adjustments	(1.4)
Currency translation	2
Balance as of end of period	4,301.7
Grocery & Snacks
Goodwill
Balance as of beginning of period	2,439.1
Purchase accounting adjustments	(1.4)
Currency translation	0
Balance as of end of period	2,437.7
Refrigerated & Frozen
Goodwill
Balance as of beginning of period	1,037.3
Purchase accounting adjustments	0
Currency translation	0.9
Balance as of end of period	1,038.2
International
Goodwill
Balance as of beginning of period	253.6
Purchase accounting adjustments	0
Currency translation	1.1
Balance as of end of period	254.7
Foodservice
Goodwill
Balance as of beginning of period	571.1
Purchase accounting adjustments	0
Currency translation	0
Balance as of end of period	$ 571.1

GOODWILL AND OTHER IDENTIFIAB53

GOODWILL AND OTHER IDENTIFIABLE INTANGIBLE ASSETS - Schedule of Other Identifiable Intangible Assets (Details) - USD ($) $ in Millions	Aug. 27, 2017	May 28, 2017
Non-amortizing intangible assets
Gross Carrying Amount	$ 835.6	$ 834.1
Amortizing intangible assets
Gross Carrying Amount	577.3	575.4
Accumulated Amortization	189.3	180.2
Identifiable intangible assets
Gross Carrying Amount	1,412.9	1,409.5
Accumulated Amortization	$ 189.3	$ 180.2

GOODWILL AND OTHER IDENTIFIAB54

GOODWILL AND OTHER IDENTIFIABLE INTANGIBLE ASSETS - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Aug. 27, 2017	Aug. 28, 2016
Goodwill [Line Items]
Remaining weighted average life of amortizing intangible assets	14 years
Amortization expense	$ 8.6	$ 8.4
Amortization expense year one	33.4
Amortization expense year two	33.4
Amortization expense year three	33.4
Amortization expense year four	33.4
Amortization expense year five	$ 33.4
Trademarks | Del Monte Brand
Goodwill [Line Items]
Write-down of intangible asset to estimated fair value		24.4
International
Goodwill [Line Items]
Impairment of goodwill		139.2
Write-down of intangible asset to estimated fair value		$ 24.4
Canada | International
Goodwill [Line Items]
Discount rates		7.50%
Terminal growth rates		2.00%

DERIVATIVE FINANCIAL INSTRUME55

DERIVATIVE FINANCIAL INSTRUMENTS - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Aug. 27, 2017	May 28, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Period to hedge portion of anticipated consumption of commodity inputs (up to)	36 months
Derivative Instruments, Gain (Loss) [Line Items]
Derivative asset prior to offsetting to total derivative	$ 1.3	$ 0.5
Derivative liability prior to offsetting to total derivative	1.3	1.4
Foreign exchange contracts
Derivative Instruments, Gain (Loss) [Line Items]
Notional value of contracts	79.6	81.9
Purchase contracts | Commodity contracts
Derivative Instruments, Gain (Loss) [Line Items]
Notional value of contracts	86.6	76.8
Sales contracts | Commodity contracts
Derivative Instruments, Gain (Loss) [Line Items]
Notional value of contracts	66.5	73.4
Level 2
Derivative Instruments, Gain (Loss) [Line Items]
Maximum amount of loss due to credit risk of counterparties	$ 0.3
Prepaid expenses and other current assets
Derivative Instruments, Gain (Loss) [Line Items]
Amounts representing a right to reclaim cash collateral		$ 0.9

DERIVATIVE FINANCIAL INSTRUME56

DERIVATIVE FINANCIAL INSTRUMENTS - Schedule of Derivative Assets and Liabilities and Amounts Representing Right to Reclaim or Obligation to Return Cash Collateral (Details) - USD ($) $ in Millions	Aug. 27, 2017	May 28, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Prepaid expenses and other current assets	$ 4.1	$ 2.3
Other accrued liabilities	$ 6.3	$ 1.3

DERIVATIVE FINANCIAL INSTRUME57

DERIVATIVE FINANCIAL INSTRUMENTS - Schedule of Derivative Assets and Liabilities on a Gross Basis (Details) - Total derivatives not designated as hedging instruments - USD ($) $ in Millions	Aug. 27, 2017	May 28, 2017
Derivatives, Fair Value [Line Items]
Derivative Assets	$ 5.4	$ 2.8
Derivative Liabilities	7.6	2.7
Commodity contracts | Prepaid expenses and other current assets
Derivatives, Fair Value [Line Items]
Derivative Assets	5.1	2.6
Commodity contracts | Other accrued liabilities
Derivatives, Fair Value [Line Items]
Derivative Liabilities	1.4	1.4
Foreign exchange contracts | Prepaid expenses and other current assets
Derivatives, Fair Value [Line Items]
Derivative Assets	0.3	0.2
Foreign exchange contracts | Other accrued liabilities
Derivatives, Fair Value [Line Items]
Derivative Liabilities	6.1	1.1
Other | Prepaid expenses and other current assets
Derivatives, Fair Value [Line Items]
Derivative Assets	0	0
Other | Other accrued liabilities
Derivatives, Fair Value [Line Items]
Derivative Liabilities	$ 0.1	$ 0.2

DERIVATIVE FINANCIAL INSTRUME58

DERIVATIVE FINANCIAL INSTRUMENTS - Schedule of Location and Amount of Gain (Loss) from Derivatives Not Designated as Hedging Instruments (Details) - USD ($) $ in Millions	3 Months Ended
	Aug. 27, 2017	Aug. 28, 2016
Derivatives, Fair Value [Line Items]
Total gain (loss) from derivative instruments not designated as hedging instruments	$ (7.1)	$ (1.5)
Commodity contracts | Cost of goods sold
Derivatives, Fair Value [Line Items]
Total gain (loss) from derivative instruments not designated as hedging instruments	0.6	(0.4)
Foreign exchange contracts | Cost of goods sold
Derivatives, Fair Value [Line Items]
Total gain (loss) from derivative instruments not designated as hedging instruments	(8)	0.1
Foreign exchange contracts | Selling, general and administrative expense
Derivatives, Fair Value [Line Items]
Total gain (loss) from derivative instruments not designated as hedging instruments	$ 0.3	$ (1.2)

SHARE-BASED PAYMENTS (Details)

SHARE-BASED PAYMENTS (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Aug. 27, 2017	Aug. 28, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense (income)	$ 6.4	$ 14.8
Period of measurement for diluted EPS CAGR	2 years
Stock options | Subsidiary
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense (income)	$ 0.3	$ (0.1)
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock granted, shares (in shares)	0.8
Weighted average grant date price (in dollars per share)	$ 34.10
Performance shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock granted, shares (in shares)	0.5
Weighted average grant date price (in dollars per share)	$ 33.82
Performance shares | 2016 EBITDA | Fiscal 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance shares based on earnings per share goal and EBITDA return on capital (as a percent)	33.33%
Performance shares | 2017 EBITDA | Fiscal 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance shares based on earnings per share goal and EBITDA return on capital (as a percent)	33.33%
Performance shares | 2017 EBITDA | Fiscal 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance shares based on earnings per share goal and EBITDA return on capital (as a percent)	33.33%
Performance shares | 2018 EBITDA | Fiscal 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance shares based on earnings per share goal and EBITDA return on capital (as a percent)	33.33%
Performance shares | 2019 diluted EPS CAGR | Fiscal 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance shares based on earnings per share goal and EBITDA return on capital (as a percent)	66.66%

EARNINGS PER SHARE - Reconcilia

EARNINGS PER SHARE - Reconciliation of Income and Average Share Amounts Used to Compute Basic and Diluted Earnings (Loss) Per Share (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Aug. 27, 2017	Aug. 28, 2016
Net income available to Conagra Brands, Inc. common stockholders:
Income from continuing operations attributable to Conagra Brands, Inc. common stockholders	$ 152.8	$ 98.4
Income (loss) from discontinued operations, net of tax, attributable to Conagra Brands, Inc. common stockholders	(0.3)	87.8
Net income attributable to Conagra Brands, Inc.	152.5	186.2
Less: Increase in redemption value of noncontrolling interests in excess of earnings allocated	0	0.5
Net income available to Conagra Brands, Inc. common stockholders	$ 152.5	$ 185.7
Weighted average shares outstanding:
Basic weighted average shares outstanding (in shares)	415.1	439
Add: Dilutive effect of stock options, restricted stock unit awards, and other dilutive securities (in shares)	4.1	3.7
Diluted weighted average shares outstanding (in shares)	419.2	442.7

EARNINGS PER SHARE - Narrative

EARNINGS PER SHARE - Narrative (Details) - shares shares in Millions	3 Months Ended
	Aug. 27, 2017	Aug. 28, 2016
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Stock options outstanding (in shares)	1.3	0.7

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Millions	Aug. 27, 2017	May 28, 2017
Inventory Disclosure [Abstract]
Raw materials and packaging	$ 203.8	$ 182.1
Work in process	96.1	91.9
Finished goods	721.2	612.9
Supplies and other	47.7	47.3
Total	$ 1,068.8	$ 934.2

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Millions	2 Months Ended	3 Months Ended
	Nov. 26, 2017	Aug. 27, 2017	Aug. 28, 2016	May 28, 2017
Income Tax Contingency [Line Items]
Income tax expense		$ 120	$ 169.2
Effective tax rate		43.90%	63.20%
Gross unrecognized tax benefits for uncertain tax positions		$ 37.7		$ 39.3
Related liabilities for gross interest and penalties		5.8		6
Net amount of unrecognized tax benefits that, if recognized, would impact the effective tax rate		30.7		31.6
Gross unrecognized tax benefits, estimated decrease over the next twelve months (up to)		16.7
Deferred tax asset		1,090		1,080
Corresponding valuation allowances		994.3		$ 990.9
Repatriation due to timing of cash flows
Income Tax Contingency [Line Items]
Income tax expense		12.2
No longer required for indefinite reinvestment
Income Tax Contingency [Line Items]
Income tax expense		11.3
Scenario, Forecast
Income Tax Contingency [Line Items]
Foreign earnings expected to be repatriated	$ 154.8
Scenario, Forecast | Planned cash repatriation
Income Tax Contingency [Line Items]
Foreign earnings expected to be repatriated	$ 115
Foreign tax credits generated in prior periods
Income Tax Contingency [Line Items]
Corresponding valuation allowances		$ 4.3

CONTINGENCIES (Details)

CONTINGENCIES (Details)	Mar. 25, 2016USD ($)	Jan. 27, 2014USD ($)defendant	Aug. 27, 2017USD ($)periodsite	May 28, 2017USD ($)
Guarantor Obligations [Line Items]
Period during which Beatrice has paid or is in the process of paying its liability share			5 years
Put options, general exercise period			30 days
Loss on lease put option
Guarantor Obligations [Line Items]
Estimate of possible loss			$ 51,800,000	$ 51,800,000
Put options, general exercise period			30 days
Accrued put cost			$ 9,300,000	$ 8,400,000
Judicial ruling
Guarantor Obligations [Line Items]
Damages awarded to plaintiff	$ 108,900,000
Beatrice
Guarantor Obligations [Line Items]
Number of sites under environmental matters for which acquired company has a liability | site			40
Number of sites under environmental matters for which acquired company is making payments | site			31
Accrual for environmental matters			$ 53,100,000
Beatrice | California
Guarantor Obligations [Line Items]
Number of other defendants | defendant		2
Estimate of possible loss		$ 1,150,000,000
Wells G&H - Southwest Properties Superfund
Guarantor Obligations [Line Items]
Accrual for environmental matters			1,100,000
Warehouse services agreement
Guarantor Obligations [Line Items]
Minimum monthly payment required under warehouse services agreement			1,500,000
Liability for estimated fair value of guarantee			29,300,000
Performance and payment guarantee for Lamb Weston
Guarantor Obligations [Line Items]
Guarantee under sublease agreement (maximum)			$ 75,000,000
Lamb Weston
Guarantor Obligations [Line Items]
Number of optional extension periods | period			2
Period of optional extensions			5 years

PENSION AND POSTRETIREMENT BE65

PENSION AND POSTRETIREMENT BENEFITS - Components of Pension Benefit and Other Postretirement Benefit Costs (Details) - USD ($) $ in Millions	3 Months Ended
	Aug. 27, 2017	Aug. 28, 2016
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Pension benefit cost — multi-employer plans	$ (12.6)	$ (10.4)
Pension Benefits
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	12.7	16.7
Interest cost	28.2	30
Expected return on plan assets	(54.2)	(53.8)
Amortization of prior service cost	0.7	0.6
Benefit cost (benefit) — Company plans	(12.6)	(6.5)
Pension benefit cost — multi-employer plans	1.5	2.3
Total cost (benefit)	(11.1)	(4.2)
Postretirement Benefits
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	0	0
Interest cost	0.9	1.1
Amortization of prior service cost	(0.8)	(1.7)
Recognized net actuarial loss	0	0.1
Total cost (benefit)	$ 0.1	$ (0.5)

PENSION AND POSTRETIREMENT BE66

PENSION AND POSTRETIREMENT BENEFITS - Narrative (Details) $ in Millions	3 Months Ended
	Aug. 27, 2017USD ($)
Pension plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Weighted average discount rate for service costs	4.19%
Weighted average discount rate for interest costs	3.26%
Employer contributions to pension and other postretirement plans	$ 3.8
Anticipated further contributions for the remainder of fiscal 2018	9.1
Postretirement plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Employer contributions to pension and other postretirement plans	3.9
Anticipated further contributions for the remainder of fiscal 2018	$ 14.8

STOCKHOLDERS' EQUITY (Details)

STOCKHOLDERS' EQUITY (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Aug. 27, 2017	Aug. 28, 2016
Conagra Brands, Inc. Stockholders' Equity
Balance at beginning of period	$ 4,077.8
Stock option and incentive plans	6.1
Spinoff of Lamb Weston	1
Currency translation adjustment, net	32.5
Repurchase of common shares	(300)
Unrealized gain on securities	0.2	$ 0.1
Activities of noncontrolling interests	0.8
Dividends declared on common stock; $0.2125 per share	$ (88.3)
Dividends declared on common stock (in dollars per share)	$ 0.2125
Net income attributable to Conagra Brands, Inc.	$ 152.5	$ 186.2
Balance at ending of period	$ 3,882.6
Common Stock
Conagra Brands, Inc. Stockholders' Equity
Balance at beginning of period (in shares)	567.9
Balance at beginning of period	$ 2,839.7
Balance at end of period (in shares)	567.9
Balance at ending of period	$ 2,839.7
Additional Paid-in Capital
Conagra Brands, Inc. Stockholders' Equity
Balance at beginning of period	1,171.9
Stock option and incentive plans	(12)
Balance at ending of period	1,159.9
Retained Earnings
Conagra Brands, Inc. Stockholders' Equity
Balance at beginning of period	4,247
Stock option and incentive plans	0.4
Spinoff of Lamb Weston	1
Dividends declared on common stock; $0.2125 per share	(88.3)
Net income attributable to Conagra Brands, Inc.	152.5
Balance at ending of period	4,312.6
Accumulated Other Comprehensive Income (Loss)
Conagra Brands, Inc. Stockholders' Equity
Balance at beginning of period	(212.9)
Currency translation adjustment, net	31.5
Unrealized gain on securities	0.2
Balance at ending of period	(181.2)
Treasury Stock
Conagra Brands, Inc. Stockholders' Equity
Balance at beginning of period	(4,054.9)
Stock option and incentive plans	17.7
Repurchase of common shares	(300)
Balance at ending of period	(4,337.2)
Noncontrolling Interests
Conagra Brands, Inc. Stockholders' Equity
Balance at beginning of period	87
Currency translation adjustment, net	1
Activities of noncontrolling interests	0.8
Balance at ending of period	$ 88.8

FAIR VALUE MEASUREMENTS - Sched

FAIR VALUE MEASUREMENTS - Schedule of Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Millions	Aug. 27, 2017	May 28, 2017
Assets:
Derivative assets	$ 4.1	$ 2.3
Available-for-sale securities	3.8	3.5
Total assets	7.9	5.8
Liabilities:
Derivative liabilities	6.3	1.3
Deferred compensation liabilities	50.5	47.2
Total liabilities	56.8	48.5
Level 1
Assets:
Derivative assets	3.8	2
Available-for-sale securities	3.8	3.5
Total assets	7.6	5.5
Liabilities:
Derivative liabilities	0	0
Deferred compensation liabilities	50.5	47.2
Total liabilities	50.5	47.2
Level 2
Assets:
Derivative assets	0.3	0.3
Available-for-sale securities	0	0
Total assets	0.3	0.3
Liabilities:
Derivative liabilities	6.3	1.3
Deferred compensation liabilities	0	0
Total liabilities	6.3	1.3
Level 3
Assets:
Derivative assets	0	0
Available-for-sale securities	0	0
Total assets	0	0
Liabilities:
Derivative liabilities	0	0
Deferred compensation liabilities	0	0
Total liabilities	$ 0	$ 0

FAIR VALUE MEASUREMENTS - Narra

FAIR VALUE MEASUREMENTS - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Aug. 27, 2017	Aug. 28, 2016	May 28, 2017
Goodwill [Line Items]
Charge recognized for the impairment of certain long-lived assets	$ 4.7
Carrying amount of long-term debt (including current installments)	2,970		$ 2,970
Estimated fair value of debt	$ 3,340		$ 3,320
International
Goodwill [Line Items]
Goodwill impairment charges		$ 139.2
Impairments of non-amortizing intangible assets		$ 24.4

BUSINESS SEGMENTS AND RELATED70

BUSINESS SEGMENTS AND RELATED INFORMATION - Narrative (Details) $ in Millions	3 Months Ended		12 Months Ended
	Aug. 27, 2017USD ($)segment	Aug. 28, 2016USD ($)	May 28, 2017USD ($)
Segment Reporting [Abstract]
Number of reportable segments | segment	5
Cumulative net derivative losses from economic hedges recognized in general corporate expenses	$ (9)
Net losses incurred	6.8
Net losses incurred in prior fiscal years			$ 2.2
Losses expected to be reclassified	8.4
Losses expected to be reclassified in fiscal 2019 and thereafter	0.6
Total depreciation expense	56.1	$ 58.8
Revenue, Major Customer [Line Items]
Accounts payable to suppliers who utilize third-party service	$ 58.8
Customer concentration risk | Wal-Mart Stores, Inc. and affiliates | Net sales
Revenue, Major Customer [Line Items]
Concentration risk (as a percent)	24.00%	23.00%
Customer concentration risk | Wal-Mart Stores, Inc. and affiliates | Net receivables
Revenue, Major Customer [Line Items]
Concentration risk (as a percent)	24.00%		26.00%

BUSINESS SEGMENTS AND RELATED71

BUSINESS SEGMENTS AND RELATED INFORMATION - Schedule of Segment Operations (Details) - USD ($) $ in Millions	3 Months Ended
	Aug. 27, 2017	Aug. 28, 2016
Net sales
Total net sales	$ 1,804.2	$ 1,895.6
Operating profit
Total operating profit	320.2	348.5
Equity method investment earnings	30	13.1
General corporate expense	40.2	35.6
Interest expense, net	36.4	58.2
Income tax expense	120	169.2
Income from continuing operations	153.6	98.6
Less: Net income attributable to noncontrolling interests of continuing operations	0.8	0.2
Income from continuing operations attributable to Conagra Brands, Inc.	152.8	98.4
Grocery & Snacks
Net sales
Total net sales	745.8	757.2
Operating profit
Total operating profit	176.2	180.5
Refrigerated & Frozen
Net sales
Total net sales	615.7	604.6
Operating profit
Total operating profit	101.9	92.2
International
Net sales
Total net sales	190.9	194.7
Operating profit
Total operating profit	18.9	(149.2)
Foodservice
Net sales
Total net sales	251.8	268
Operating profit
Total operating profit	23.2	21.7
Commercial
Net sales
Total net sales	0	71.1
Operating profit
Total operating profit	$ 0	$ 203.3

BUSINESS SEGMENTS AND RELATED72

BUSINESS SEGMENTS AND RELATED INFORMATION - Schedule of Net Derivative Gains (Losses) from Economic Hedges of Forecasted Commodity Consumption and Foreign Currency Risk (Details) - USD ($) $ in Millions	3 Months Ended
	Aug. 27, 2017	Aug. 28, 2016
Derivative Instruments, Gain (Loss) [Line Items]
Net derivative losses incurred	$ (6.8)
Commodity contracts
Derivative Instruments, Gain (Loss) [Line Items]
Net derivative losses incurred	(7.4)	$ (0.3)
Commodity contracts | Reporting segments
Derivative Instruments, Gain (Loss) [Line Items]
Net derivative losses incurred	(1.4)	(1)
Commodity contracts | Reporting segments | Net derivative losses allocated to Grocery & Snacks
Derivative Instruments, Gain (Loss) [Line Items]
Net derivative losses incurred	(0.6)	(0.4)
Commodity contracts | Reporting segments | Net derivative losses allocated to Refrigerated & Frozen
Derivative Instruments, Gain (Loss) [Line Items]
Net derivative losses incurred	0	(0.2)
Commodity contracts | Reporting segments | Net derivative losses allocated to International
Derivative Instruments, Gain (Loss) [Line Items]
Net derivative losses incurred	(0.7)	0
Commodity contracts | Reporting segments | Net derivative losses allocated to Foodservice
Derivative Instruments, Gain (Loss) [Line Items]
Net derivative losses incurred	(0.1)	(0.3)
Commodity contracts | Reporting segments | Net derivative losses allocated to Commercial
Derivative Instruments, Gain (Loss) [Line Items]
Net derivative losses incurred	0	(0.1)
Commodity contracts | Net derivative gains (losses) recognized in general corporate expenses
Derivative Instruments, Gain (Loss) [Line Items]
Net derivative losses incurred	$ (6)	$ 0.7