General Mills (GIS) 10-Q 21 Sep 22 2023 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Aug. 28, 2022	Sep. 14, 2022
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Entity Central Index Key	0000040704
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Aug. 28, 2022
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2023
Current Fiscal Year End Date	--05-28
Entity File Number	001-01185
Entity Registrant Name	GENERAL MILLS, INC.
Entity Incorporation State Country Code	DE
Entity Tax Identification Number	41-0274440
Entity Address Address Line 1	Number One General Mills Boulevard
Entity Address City or Town	Minneapolis
Entity Address State or Province	MN
Entity Address Postal Zip Code	55426
City Area Code	(763)
Local Phone Number	764-7600
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock Shares Outstanding		593,535,650
Shares held in the treasury		161,077,678
Common Stock, $.10 par value [Member]
Entity Listings [Line Items]
Security 12b Title	Common Stock, $.10 par value
Trading Symbol	GIS
Security Exchange Name	NYSE
1.000% Notes due 2023 [Member]
Entity Listings [Line Items]
Security 12b Title	1.000% Notes due 2023
Trading Symbol	GIS23A
Security Exchange Name	NYSE
0.125% Notes due 2025 [Member]
Entity Listings [Line Items]
Security 12b Title	0.125% Notes due 2025
Trading Symbol	GIS25A
Security Exchange Name	NYSE
0.450% Notes due 2026 [Member]
Entity Listings [Line Items]
Security 12b Title	0.450% Notes due 2026
Trading Symbol	GIS26
Security Exchange Name	NYSE
1.500% Notes due 2027 [Member]
Entity Listings [Line Items]
Security 12b Title	1.500% Notes due 2027
Trading Symbol	GIS27
Security Exchange Name	NYSE

Consolidated Statements of Earn

Consolidated Statements of Earnings (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Aug. 28, 2022	Aug. 29, 2021
CONSOLIDATED STATEMENTS OF EARNINGS [ABSTRACT]
Net sales	$ 4,717.6	$ 4,539.9
Cost of sales	3,269.9	2,942.5
Selling, general, and administrative expenses	791.4	757.4
Divestitures gain, net	(430.9)	0
Restructuring, impairment, and other exit costs (recoveries)	1.6	(4.3)
Operating profit	1,085.6	844.3
Benefit plan non-service income	(21.7)	(29.6)
Interest, net	87.7	95.9
Earnings before income taxes and after-tax earnings from joint ventures	1,019.6	778
Income taxes	216.1	168.9
After-tax earnings from joint ventures	19.8	29.1
Net earnings, including earnings attributable to redeemable and noncontrolling interests	823.3	638.2
Net earnings attributable to redeemable and noncontrolling interests	3.3	11.2
Net earnings attributable to General Mills	$ 820	$ 627
Earnings per share - basic	$ 1.37	$ 1.03
Earnings per share - diluted	$ 1.35	$ 1.02

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Aug. 28, 2022	Aug. 29, 2021
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME [ABSTRACT]
Net earnings, including earnings attributable to redeemable and noncontrolling interests	$ 823.3	$ 638.2
Other comprehensive income (loss), net of tax:
Foreign currency translation	3.8	(23.9)
Other fair value changes:
Hedge derivatives	(38.3)	1.7
Reclassification to earnings:
Foreign currency translation	(7.4)	0
Hedge derivatives	(1.4)	10.6
Amortization of losses and prior service costs	14.1	8.4
Other comprehensive loss, net of tax	(29.2)	(3.2)
Total comprehensive income	794.1	635
Comprehensive income (loss) attributable to redeemable and noncontrolling interests	2	(23.5)
Comprehensive income attributable to General Mills	$ 792.1	$ 658.5

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Aug. 28, 2022	May 29, 2022
Current assets:
Cash and cash equivalents	$ 594.4	$ 569.4
Receivables	1,730.4	1,692.1
Inventories	2,089.9	1,867.3
Prepaid expenses and other current assets	719.3	802.1
Assets held for sale	0	158.9
Total current assets	5,134	5,089.8
Land, buildings, and equipment	3,358.6	3,393.8
Goodwill	14,454.6	14,378.5
Other intangible assets	6,979.4	6,999.9
Other assets	1,180.6	1,228.1
Total assets	31,107.2	31,090.1
Current liabilities:
Accounts payable	3,786.3	3,982.3
Current portion of long-term debt	2,095.4	1,674.2
Notes payable	991.9	811.4
Other current liabilities	1,721.9	1,552
Total current liabilities	8,595.5	8,019.9
Long-term debt	8,474.6	9,134.8
Deferred income taxes	2,262.4	2,218.3
Other liabilities	949.1	929.1
Total liabilities	20,281.6	20,302.1
Stockholders' equity:
Common stock, 754.6 shares issued, $0.10 par value	75.5	75.5
Additional paid-in capital	1,146.1	1,182.9
Retained earnings	19,027.6	18,532.6
Common stock in treasury, at cost, shares of 160.3 and 155.7	(7,676)	(7,278.1)
Accumulated other comprehensive loss	(1,998.4)	(1,970.5)
Total stockholders' equity	10,574.8	10,542.4
Noncontrolling interests	250.8	245.6
Total equity	10,825.6	10,788
Total liabilities and equity	$ 31,107.2	$ 31,090.1

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares shares in Millions	Aug. 28, 2022	May 29, 2022	Aug. 29, 2021
Stockholders' equity:
Common stock, shares issued	754.6	754.6
Common stock, par value	$ 0.10	$ 0.1	$ 0.1
Common stock in treasury, shares	160.3	155.7

Consolidated Statements of Tota

Consolidated Statements of Total Equity and Redeemable Interest (Unaudited) - USD ($) shares in Millions, $ in Millions	Total	Redeemable Interest [Member]	Parent [Member]	Issued Common Stock [Member]	Additional Paid-In Capital [Member]	Retained Earnings [Member]	Treasury Stock [Member]	Accumulated Other Comprehensive Loss [Member]	Noncontrolling Interests [Member]
Beginning balance, treasury stock shares at May. 30, 2021							(146.9)
Stockholders' Equity, Number of Shares
Shares purchased, shares							(2.5)
Stock compensation plans, shares							1.1
Ending balance, common stock shares at Aug. 29, 2021				754.6
Ending balance, treasury stock shares at Aug. 29, 2021							(148.3)
Beginning balance, equity at May. 30, 2021	$ 9,773.2				$ 1,365.5	$ 17,069.8	$ (6,611.2)	$ (2,429.2)	$ 302.8
Stockholders Equity Including Portion Attributable To Noncontrolling Interest [Abstract]
Shares purchased, value							(150.1)
Stock compensation plans, value					9.1		46.3
Unearned compensation related to stock unit awards					(68.3)
Earned compensation					33.1
Decrease in redemption value of redeemable interest		$ (5.6)			5.6
Net earnings attributable to General Mills	627		$ 627			627
Comprehensive (loss) income								31.5	(8.2)
Cash dividends declared						(312.3)
Distributions to noncontrolling interest holders									(1.1)
Divestiture									0
Ending balance, equity at Aug. 29, 2021	$ 9,985.8			$ 75.5	1,345	17,384.5	$ (6,715)	(2,397.7)	293.5
Beginning balance, equity attributable to redeemable noncontrolling interest at May. 30, 2021		604.9
Redeemable Interest
Comprehensive loss		(15.3)
Ending balance, equity attributable to redeemable noncontrolling interest at Aug. 29, 2021		584
Beginning balance, common stock shares at May. 29, 2022	754.6
Beginning balance, treasury stock shares at May. 29, 2022	(155.7)						(155.7)
Stockholders' Equity, Number of Shares
Shares purchased, shares							(6.9)
Stock compensation plans, shares							2.3
Ending balance, common stock shares at Aug. 28, 2022	754.6			754.6
Ending balance, treasury stock shares at Aug. 28, 2022	(160.3)						(160.3)
Beginning balance, equity at May. 29, 2022	$ 10,788				1,182.9	18,532.6	$ (7,278.1)	(1,970.5)	245.6
Stockholders Equity Including Portion Attributable To Noncontrolling Interest [Abstract]
Shares purchased, value							(500.8)
Stock compensation plans, value					9.3		102.9
Unearned compensation related to stock unit awards					(79)
Earned compensation					32.9
Decrease in redemption value of redeemable interest		0			0
Net earnings attributable to General Mills	820		$ 820			820
Comprehensive (loss) income								(27.9)	2
Cash dividends declared						(325)
Distributions to noncontrolling interest holders									(1.9)
Divestiture									5.1
Ending balance, equity at Aug. 28, 2022	$ 10,825.6			$ 75.5	$ 1,146.1	$ 19,027.6	$ (7,676)	$ (1,998.4)	$ 250.8
Beginning balance, equity attributable to redeemable noncontrolling interest at May. 29, 2022		0
Redeemable Interest
Comprehensive loss		0
Ending balance, equity attributable to redeemable noncontrolling interest at Aug. 28, 2022		$ 0

Consolidated Statements of To_2

Consolidated Statements of Total Equity and Redeemable Interest (Unaudited) (Parenthetical) - $ / shares shares in Billions	3 Months Ended
	Aug. 28, 2022	Aug. 29, 2021
CONSOLIDATED STATEMENTS OF TOTAL EQUITY AND REDEEMABLE INTEREST (Unaudited) (Parenthetical) [ABSTRACT]
Par Value Common Stock	$ 0.10	$ 0.1
Common Stock, Shares Authorized	1	1
Cash dividends declared per share	$ 0.54	$ 0.51

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Aug. 28, 2022	Aug. 29, 2021
Cash Flows - Operating Activities
Net earnings, including earnings attributable to redeemable and noncontrolling interests	$ 823.3	$ 638.2
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	134.3	145.8
After-tax earnings from joint ventures	(19.8)	(29.1)
Distributions of earnings from joint ventures	15.5	22.6
Stock-based compensation	33.5	26.8
Deferred income taxes	9.2	19.6
Pension and other postretirement benefit plan contributions	(5.3)	(5.4)
Pension and other postretirement benefit plan costs	(6.7)	(7.2)
Divestitures gain, net	(430.9)	0
Restructuring, impairment, and other exit costs	(15.7)	(19.5)
Changes in current assets and liabilities, excluding the effects of acquisitions and divestitures	(209.7)	(389.5)
Other, net	61.1	(32.5)
Net cash provided by operating activities	388.8	369.8
Cash Flows - Investing Activities
Purchases of land, buildings, and equipment	(90.9)	(104)
Acquisition, net of cash acquired	(252.1)	(1,198.6)
Proceeds from divestitures, net of cash divested	610.7	0
Investments in affiliates, net	0	5.7
Proceeds from disposal of land, buildings, and equipment	0	0.3
Other, net	(1.9)	(1.3)
Net cash provided (used) by investing activities	265.8	(1,297.9)
Cash Flows - Financing Activities
Change in notes payable	188	698.7
Issuance of long-term debt	0	582.2
Payment of long-term debt	0	(612.1)
Proceeds from common stock issued on exercised options	65.5	7.9
Purchases of common stock for treasury	(500.8)	(150.1)
Dividends paid	(325)	(312.3)
Distributions to noncontrolling and redeemable interest holders	(1.9)	(1.1)
Other, net	(34.9)	(18.2)
Net cash (used) provided by financing activities	(609.1)	195
Effect of exchange rate changes on cash and cash equivalents	(20.5)	(18.1)
Increase (decrease) in cash and cash equivalents	25	(751.2)
Cash and cash equivalents - beginning of year	569.4	1,505.2
Cash and cash equivalents - end of period	594.4	754
Cash Flow from changes in current assets and liabilities, excluding the effects of acquisitions and divestitures:
Receivables	(91.1)	(145.3)
Inventories	(243.3)	(116.1)
Prepaid expenses and other current assets	79.5	39
Accounts payable	(130.4)	(214.9)
Other current liabilities	175.6	47.8
Changes in current assets and liabilities	$ (209.7)	$ (389.5)

Background

Background	3 Months Ended
	Aug. 28, 2022
Background [Abstract]
Background	(1) Background The accompanying prepared in and with required presentation have any 2022, These Report on Form Statements are the same as those described in Note 2 to the Consolidated Financial Certain terms used throughout this report are defined in the “Glossary” section below.

Acquisition and Divestitures

Acquisition and Divestitures	3 Months Ended
	Aug. 28, 2022
Acquisition and Divestiture [Abstract]
Acquisition and Divestiture	(2) Acquisition and Divestitures During national pizza 253.0 with U.S. commercial paper. $ 154.3 forma assets information is obtained reflect the resulting adjustments to our North America Foodservice segment on a one-month lag. During the Eagle Family Foods Group for $ 606.8 442.2 During 1.2 transaction Consolidated Balance 762.3 Nudges , Top , and True 330.0 40.0 goodwill is included in the Pet segment and is deductible for tax purposes. The

Restructuring, Impairment, and

Restructuring, Impairment, and Other Exit Costs	3 Months Ended
	Aug. 28, 2022
Restructuring, Impairment, and Other Exit Costs [Abstract]
Restructuring, Impairment, and Other Exit Costs	(3) Restructuring, Impairment, and Other Exit Costs During the 2.3 charges in the 4.1 previously announced restructuring actions. We fiscal 2024 . We 18.0 $ 15.4 The roll forward of our restructuring and other exit cost reserves, included In Millions Total Reserve balance as of May 29, 2022 $ 36.8 Fiscal 2023 charges, including foreign currency translation (0.4) Utilized in fiscal 2023 (17.1) Reserve balance as of Aug. 28, 2022 $ 19.3 The reserve balance primarily consists of expected severance payments The charges to expense off other exit cost reserves on our Consolidated Balance Sheets.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	3 Months Ended
	Aug. 28, 2022
Goodwill and Other Intangible Assets [Abstract]
Goodwill and Other Intangible Assets	(4) Goodwill and Other Intangible Assets The components of goodwill and other intangible assets are as follows: In Millions Aug. 28, 2022 May 29, 2022 Goodwill $ 14,454.6 $ 14,378.5 Other intangible assets: Intangible assets not subject to amortization: Brands and other indefinite-lived intangibles 6,706.4 6,725.8 Intangible assets subject to amortization: Customer relationships and other finite-lived intangibles 402.1 400.3 Less accumulated amortization (129.1) (126.2) Intangible assets subject to amortization, net 273.0 274.1 Other intangible assets 6,979.4 6,999.9 Total $ 21,434.0 $ 21,378.4 Based on five fiscal years is estimated to be approximately $ 20 The changes in the carrying amount of goodwill during the first quarter of fiscal 2023 In Millions North America Retail Pet North America Foodservice International Joint Ventures Total Balance as of May 29, 2022 $ 6,552.9 $ 6,062.8 $ 648.8 $ 721.6 $ 392.4 $ 14,378.5 Acquisition - - 154.3 - - 154.3 Divestiture - - - (0.4) - (0.4) Other activity, primarily (3.0) - - (46.6) (28.2) (77.8) Balance as of Aug. 28, 2022 $ 6,549.9 $ 6,062.8 $ 803.1 $ 674.6 $ 364.2 $ 14,454.6 The changes in the carrying amount of other intangible assets during the first quarter In Millions Total Balance as of May 29, 2022 $ 6,999.9 Acquisition 3.8 Other activity, primarily (24.3) Balance as of Aug. 28, 2022 $ 6,979.4 Our fiscal no excess of the carrying values, except for the Uncle Toby’s The excess fair value as of the fiscal 2022 test date of the Uncle Toby’s In Millions Carrying Value Intangible Asset Excess Fair Value Fiscal 2022 Test Uncle Toby's $ 55.0 7 % In Progresso , Green , EPIC intangible assets had risk of decreasing coverage. We

Inventories

Inventories	3 Months Ended
	Aug. 28, 2022
Inventories [Abstract]
Inventories	(5) Inventories The components of inventories were as follows: In Millions Aug. 28, 2022 May 29, 2022 Raw materials and packaging $ 579.6 $ 532.0 Finished goods 1,887.0 1,634.7 Grain 122.5 164.0 Excess of FIFO over LIFO cost (499.2) (463.4) Total $ 2,089.9 $ 1,867.3

Risk Management Activities

Risk Management Activities	3 Months Ended
	Aug. 28, 2022
Risk Management Activities [Abstract]
Risk Management Activities	(6) Risk Management Activities Many commodities we to manage price risk for our principal dairy products, natural with combination of purchase orders, long-term and swaps. close as possible to or below our planned cost. We hedge currently in cost of sales in our Consolidated Statements of Earnings. Although we do objective of providing certainty measuring operating results unallocated derivative without experiencing any resulting mark-to-market volatility, Unallocated corporate items for the quarters ended August 28, 2022, and Quarter Ended In Millions Aug. 28, 2022 Aug. 29, 2021 Net (loss) gain on mark-to-market valuation of certain $ (72.3) $ 30.4 Net gain on commodity positions reclassified from (43.0) (34.7) Net mark-to-market revaluation of certain grain inventories (59.4) 28.4 Net mark-to-market valuation of certain commodity $ (174.7) $ 24.1 As of August 28, 2022, 432.6 152.4 inputs and 280.2 12 The material as change our valuation techniques from prior periods. We services also We financial supplier 1,413.3 these third-party services. As 1,312.8 these third-party services.

Debt

Debt	3 Months Ended
	Aug. 28, 2022
Debt [Abstract]
Debt	(7) Debt The components of notes payable were as follows: In Millions Aug. 28, 2022 May 29, 2022 U.S. commercial paper $ 839.8 $ 694.8 Financial institutions 152.1 116.6 Total $ 991.9 $ 811.4 To ensure availability and Europe. We also The following table details the fee-paid committed and uncommitted credit In Billions Facility Amount Borrowed Amount Committed credit facility expiring April 2026 $ 2.7 $ - Uncommitted credit facilities 0.6 0.2 Total committed $ 3.3 $ 0.2 The 2.5 We were in compliance with all credit facility covenants as of August 28, 2022. Long-Term The fair values 10,129.1 10,570.0 respectively, flows based fair value hierarchy. In 850.0 3.7 October 17, 2023 , using from the issuance of commercial paper. In the fourth quarter of fiscal 2022, we issued € 250.0 0.0 November 11, 2022 . We used the net proceeds for general corporate purposes. In the second quarter of fiscal 2022, we issued € 500.0 0.125 November 15, 2025 . We used the net proceeds to repay a portion of our € 500.0 0.0 November 16, 2021 , and for general corporate purposes. In the second quarter of fiscal 2022, we issued € 250.0 May 16, 2023 . We used the net proceeds repay a portion of our outstanding commercial paper and for general In the second quarter of fiscal 2022, we issued $ 500.0 2.25 October 14, 2031 . We used the net proceeds together with proceeds from the issuance of commercial paper, 1,000.0 3.15 December 15, 2021 . In the first quarter of fiscal 2022, we issued € 500.0 July 27, 2023 . We used the net proceeds to € 500.0 0.0 August 21, 2021 . In the first quarter of fiscal 2022, we repaid € 200.0 2.2 June 24, 2021 , using proceeds from the issuance of € 50.0 2.2 November 29, 2021 , and borrowings under a committed credit facility. Certain As of August 28, 2022, we were in compliance with all of these covenants.

Redeemable and Noncontrolling I

Redeemable and Noncontrolling Interests	3 Months Ended
	Aug. 28, 2022
Redeemable and Noncontrolling Interests [Abstract]
Redeemable and Noncontrolling Interests	(8) Redeemable and Noncontrolling Interests The available net the 251.5 Class A Interests three-month LIBOR 160 three years During Marques agreement for the use of Yoplait Liberté brands in the United States and Canada, and cash. Up to fair 49 Sheets. Sodiaal had quarter of value put feature were and the resulting carrying value of the noncontrolling interests were included in A subsidiary of 2021. Net purchases totaled $ 50.1 Our noncontrolling interests contain restrictive covenants. As of August 28, 2022, we were in compliance with all of these covenants.

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Aug. 28, 2022
Stockholders' Equity [Abstract]
Stockholders' Equity	(9) Stockholders’ Equity The following tables provide details of total comprehensive income: Quarter Ended Quarter Ended Aug. 28, 2022 Aug. 29, 2021 General Mills Noncontrolling Interests General Mills Noncontrolling Interests Redeemable Interest In Millions Pretax Tax Net Net Pretax Tax Net Net Net Net earnings, including earnings $ 820.0 $ 3.3 $ 627.0 $ 3.0 $ 8.2 Other comprehensive (loss) income: Foreign currency translation $ (48.0) $ 53.1 5.1 (1.3) $ (11.9) $ 22.7 10.8 (11.2) (23.5) Other fair value changes: Hedge derivatives (49.8) 11.5 (38.3) - 2.8 (1.0) 1.8 - (0.1) Reclassification to earnings: Foreign currency translation (a) (7.4) - (7.4) - - - - - - Hedge derivatives (b) (1.9) 0.5 (1.4) - 12.0 (1.5) 10.5 - 0.1 Amortization of losses and 18.2 (4.1) 14.1 - 10.8 (2.4) 8.4 - - Other comprehensive (loss) income $ (88.9) $ 61.0 (27.9) (1.3) $ 13.7 $ 17.8 31.5 (11.2) (23.5) Total comprehensive income (loss) $ 792.1 $ 2.0 $ $ 658.5 $ (8.2) $ (15.3) (a) (b) (c) Accumulated other comprehensive loss balances, net of tax effects, In Millions Aug. 28, 2022 May 29, 2022 Foreign currency translation adjustments $ (593.0) $ (590.7) Unrealized (loss) gain from hedge derivatives (16.4) 23.3 Pension, other postretirement, and postemployment benefits: Net actuarial loss (1,495.2) (1,513.4) Prior service credits 106.2 110.3 Accumulated other comprehensive loss $ (1,998.4) $ (1,970.5)

Stock Plans

Stock Plans	3 Months Ended
	Aug. 28, 2022
Stock Plans [Abstract]
Stock Plans	(10) Stock Plans We units, and performance described in Note May 29, 2022. Compensation expense related to stock-based payments recognized Quarter Ended In Millions Aug. 28, 2022 Aug. 29, 2021 Compensation expense related to stock-based payments $ 33.5 $ 33.6 Windfall tax benefits from stock-based payments Quarter Ended In Millions Aug. 28, 2022 Aug. 29, 2021 Windfall tax benefits from stock-based payments $ 12.8 $ 4.7 As performance share units was $ 166.8 26 Net cash proceeds from the exercise of stock options were as follows: Quarter Ended In Millions Aug. 28, 2022 Aug. 29, 2021 Net cash proceeds $ 65.5 $ 7.9 Intrinsic value of options exercised $ 32.0 $ 5.1 We estimate the fair value of each stock option on the grant date using a Black-Scholes option-pricing model. Black-Scholes option- pricing models require us to make predictive assumptions regarding future stock price volatility, employee exercise behavior, and dividend yield. We estimate our future stock price volatility using the historical volatility over the expected term of the option, excluding time periods of volatility we believe a marketplace participant would exclude in estimating our stock price volatility. We also have considered, but did not use, implied volatility in our estimate, because trading activity in options on our stock, especially those with tenors of greater than 6 months, is insufficient to provide a reliable measure of expected volatility. Our method of selecting the other valuation assumptions is explained in Note 12 to the Consolidated Financial Statements included in our Annual Report on Form 10-K for the fiscal year ended May 29, 2022. The follows: Quarter Ended Aug. 28, 2022 Aug. 29, 2021 Estimated fair values of stock options granted $ 14.16 $ 8.77 Assumptions: Risk-free interest rate 3.3 % 1.5 % Expected term 8.5 years 8.5 years Expected volatility 20.9 % 20.2 % Dividend yield 3.1 % 3.4 % The total grant date fair value of restricted stock unit awards that vested during Quarter Ended In Millions Aug. 28, 2022 Aug. 29, 2021 Total grant date fair $ 82.0 $ 69.5

Earnings Per Share

Earnings Per Share	3 Months Ended
	Aug. 28, 2022
Earnings Per Share [Abstract]
Earnings Per Share	(11) Earnings Per Share Basic and diluted earnings per share (EPS) were calculated using the following: Quarter Ended In Millions, Except per Share Data Aug. 28, 2022 Aug. 29, 2021 Net earnings attributable to General Mills $ 820.0 $ 627.0 Average number 600.2 610.4 Incremental share effect from: (a) Stock options 3.3 2.1 Restricted stock units and performance share units 2.5 2.3 Average number 606.0 614.8 Earnings per share – basic $ 1.37 $ 1.03 Earnings per share – diluted $ 1.35 $ 1.02 (a) method. were not dilutive were as follows Quarter Ended In Millions Aug. 28, 2022 Aug. 29, 2021 Anti-dilutive stock options, restricted stock units, and 0.8 4.6

Share Repurchases

Share Repurchases	3 Months Ended
	Aug. 28, 2022
Share Repurchases [Abstract]
Share Repurchases	(12) Share Repurchases Share repurchases were as follows: Quarter Ended In Millions Aug. 28, 2022 Aug. 29, 2021 Shares of common stock 6.9 2.5 Aggregate purchase price $ 500.8 $ 150.1

Statements of Cash Flows

Statements of Cash Flows	3 Months Ended
	Aug. 28, 2022
Statements of Cash Flows [Abstract]
Statements of Cash Flows	(13) Statements of Cash Flows Our Consolidated Statements of Cash Flows include the following: Quarter Ended In Millions Aug. 28, 2022 Aug. 29, 2021 Net cash interest payments $ 55.2 $ 69.9 Net income tax payments $ 9.0 $ 33.1

Retirement and Postemployment B

Retirement and Postemployment Benefits	3 Months Ended
	Aug. 28, 2022
Retirement and Postemployment Benefits [Abstract]
Retirement and Postemployment Benefits	(14) Retirement and Postemployment Benefits Components of net periodic benefit expense (income) are as follows: Defined Benefit Pension Plans Other Postretirement Benefit Plans Postemployment Benefit Plans Quarter Ended Quarter Ended Quarter Ended In Millions Aug. 28, 2022 Aug. 29, 2021 Aug. 28, 2022 Aug. 29, 2021 Aug. 28, 2022 Aug. 29, 2021 Service cost $ 17.6 $ 23.7 $ 1.4 $ 1.9 $ 2.1 $ 1.8 Interest cost 64.6 46.3 4.5 3.2 0.8 0.4 Expected return on plan assets (105.0) (102.8) (7.8) (6.7) - - Amortization of losses (gains) 28.3 34.9 (4.9) (2.7) 0.1 0.8 Amortization of prior service costs (credits) 0.4 0.2 (5.8) (5.2) 0.1 0.1 Other adjustments - - - - 3.0 1.9 Curtailment gain - (14.8) - (5.5) - - Net expense (income) $ 5.9 $ (12.5) $ (12.6) $ (15.0) $ 6.1 $ 5.0

Income Taxes

Income Taxes	3 Months Ended
	Aug. 28, 2022
Income Taxes [Abstract]
Income Taxes	(15) Income Taxes During Alternative Minimum Tax 2023. We tax results. During fiscal 2018 acquisition of related to this transaction. We

Contingencies

Contingencies	3 Months Ended
	Aug. 28, 2022
Contingencies [Abstract]
Contingencies	(16) Contingencies During state sales tax requirements. have meritorious defenses against this claim and will vigorously defend any possible loss and have not recorded a loss contingency for this matter.

Business Segment and Geographic

Business Segment and Geographic Information	3 Months Ended
	Aug. 28, 2022
Business Segment and Geographic Information [Abstract]
Business Segment and Geographic Information	(17) Business Segment and Geographic Information We operations. chief operating decision maker assesses performance follows: North America Retail; International; Pet; and North America We These General Mills, or earnings per share. Our North America Retail stores, categories products, organic products yogurt. Our product categories include super-premium and shops. Our American markets, as well as reported in the region or country where the end customer is located. Our Pet operating segment includes e-commerce retailers, categories include dog and cat food (dry natural product types, diet types, breed sizes for dogs, lifestages, flavors, product Our categories unbaked and and nearly vending, and supermarket bakeries. Operating profit and employee corporate investments, and commodity positions corporate chain organization, our manufacturing, to maximize nor available by operating segment. Our operating segment results were as follows: Quarter Ended In Millions Aug. 28, 2022 Aug. 29, 2021 Net sales: North America Retail $ 2,988.8 $ 2,710.6 International 652.5 930.6 Pet 579.9 488.0 North America Foodservice 496.4 410.7 Total $ 4,717.6 $ 4,539.9 Operating profit: North America Retail $ 777.8 $ 648.6 International 34.8 60.6 Pet 123.1 115.2 North America Foodservice 53.6 71.8 Total segment operating $ 989.3 $ 896.2 Unallocated corporate items 333.0 56.2 Divestitures gain, net (430.9) - Restructuring, impairment, and other exit costs (recoveries) 1.6 (4.3) Operating profit $ 1,085.6 $ 844.3 Net sales for our North America Retail operating units were as follows: Quarter Ended In Millions Aug. 28, 2022 Aug. 29, 2021 U.S. Meals & Baking Solutions $ 949.2 $ 861.5 U.S. Morning Foods 904.0 829.7 U.S. Snacks 887.2 780.1 Canada 248.4 239.3 Total $ 2,988.8 $ 2,710.6 Net sales by class of similar products were as follows: Quarter Ended In Millions Aug. 28, 2022 Aug. 29, 2021 Snacks $ 1,068.4 $ 954.5 Cereal 814.7 731.0 Convenient meals 679.2 695.5 Pet 580.8 488.0 Baking mixes and ingredients 473.5 396.3 Dough 464.8 405.2 Yogurt 346.0 505.9 Super-premium ice cream 183.5 244.8 Other 106.7 118.7 Total $ 4,717.6 $ 4,539.9

Restructuring, Impairment, an_2

Restructuring, Impairment, and Other Exit Costs (Tables)	3 Months Ended
	Aug. 28, 2022
Restructuring, Impairment, and Other Exit Costs [Abstract]
Roll forward of Restructuring and Other Exit Cost Reserves	In Millions Total Reserve balance as of May 29, 2022 $ 36.8 Fiscal 2023 charges, including foreign currency translation (0.4) Utilized in fiscal 2023 (17.1) Reserve balance as of Aug. 28, 2022 $ 19.3

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	3 Months Ended
	Aug. 28, 2022
Goodwill and Other Intangible Assets [Abstract]
Schedule of components of goodwill and other intangible assets	In Millions Aug. 28, 2022 May 29, 2022 Goodwill $ 14,454.6 $ 14,378.5 Other intangible assets: Intangible assets not subject to amortization: Brands and other indefinite-lived intangibles 6,706.4 6,725.8 Intangible assets subject to amortization: Customer relationships and other finite-lived intangibles 402.1 400.3 Less accumulated amortization (129.1) (126.2) Intangible assets subject to amortization, net 273.0 274.1 Other intangible assets 6,979.4 6,999.9 Total $ 21,434.0 $ 21,378.4
Schedule of changes in the carrying amount of goodwill [Table Text Block]	In Millions North America Retail Pet North America Foodservice International Joint Ventures Total Balance as of May 29, 2022 $ 6,552.9 $ 6,062.8 $ 648.8 $ 721.6 $ 392.4 $ 14,378.5 Acquisition - - 154.3 - - 154.3 Divestiture - - - (0.4) - (0.4) Other activity, primarily (3.0) - - (46.6) (28.2) (77.8) Balance as of Aug. 28, 2022 $ 6,549.9 $ 6,062.8 $ 803.1 $ 674.6 $ 364.2 $ 14,454.6
Schedule of changes in the carrying amount of other intangible assets [Table Text Block]	In Millions Total Balance as of May 29, 2022 $ 6,999.9 Acquisition 3.8 Other activity, primarily (24.3) Balance as of Aug. 28, 2022 $ 6,979.4 In Millions Carrying Value Intangible Asset Excess Fair Value Fiscal 2022 Test Uncle Toby's $ 55.0 7 %

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Aug. 28, 2022
Inventories [Abstract]
Schedule of components of inventories [Table Text Block]	In Millions Aug. 28, 2022 May 29, 2022 Raw materials and packaging $ 579.6 $ 532.0 Finished goods 1,887.0 1,634.7 Grain 122.5 164.0 Excess of FIFO over LIFO cost (499.2) (463.4) Total $ 2,089.9 $ 1,867.3

Risk Management Activities (Tab

Risk Management Activities (Tables)	3 Months Ended
	Aug. 28, 2022
Risk Management Activities [Abstract]
Schedule of unallocated corporate items [Table Text Block]	Quarter Ended In Millions Aug. 28, 2022 Aug. 29, 2021 Net (loss) gain on mark-to-market valuation of certain $ (72.3) $ 30.4 Net gain on commodity positions reclassified from (43.0) (34.7) Net mark-to-market revaluation of certain grain inventories (59.4) 28.4 Net mark-to-market valuation of certain commodity $ (174.7) $ 24.1

Debt (Tables)

Debt (Tables)	3 Months Ended
	Aug. 28, 2022
Debt [Abstract]
Schedule of components of notes payable [Table Text Block]	In Millions Aug. 28, 2022 May 29, 2022 U.S. commercial paper $ 839.8 $ 694.8 Financial institutions 152.1 116.6 Total $ 991.9 $ 811.4
Schedule of fee-paid committed and uncommitted credit lines [Table Text Block]	In Billions Facility Amount Borrowed Amount Committed credit facility expiring April 2026 $ 2.7 $ - Uncommitted credit facilities 0.6 0.2 Total committed $ 3.3 $ 0.2

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	3 Months Ended
	Aug. 28, 2022
Stockholders' Equity [Abstract]
Schedule of total comprehensive income [Table Text Block]	Quarter Ended Quarter Ended Aug. 28, 2022 Aug. 29, 2021 General Mills Noncontrolling Interests General Mills Noncontrolling Interests Redeemable Interest In Millions Pretax Tax Net Net Pretax Tax Net Net Net Net earnings, including earnings $ 820.0 $ 3.3 $ 627.0 $ 3.0 $ 8.2 Other comprehensive (loss) income: Foreign currency translation $ (48.0) $ 53.1 5.1 (1.3) $ (11.9) $ 22.7 10.8 (11.2) (23.5) Other fair value changes: Hedge derivatives (49.8) 11.5 (38.3) - 2.8 (1.0) 1.8 - (0.1) Reclassification to earnings: Foreign currency translation (a) (7.4) - (7.4) - - - - - - Hedge derivatives (b) (1.9) 0.5 (1.4) - 12.0 (1.5) 10.5 - 0.1 Amortization of losses and 18.2 (4.1) 14.1 - 10.8 (2.4) 8.4 - - Other comprehensive (loss) income $ (88.9) $ 61.0 (27.9) (1.3) $ 13.7 $ 17.8 31.5 (11.2) (23.5) Total comprehensive income (loss) $ 792.1 $ 2.0 $ $ 658.5 $ (8.2) $ (15.3) (a) (b) (c)
Schedule of accumulated other comprehensive income (loss), net of tax effects [Table Text Block]	In Millions Aug. 28, 2022 May 29, 2022 Foreign currency translation adjustments $ (593.0) $ (590.7) Unrealized (loss) gain from hedge derivatives (16.4) 23.3 Pension, other postretirement, and postemployment benefits: Net actuarial loss (1,495.2) (1,513.4) Prior service credits 106.2 110.3 Accumulated other comprehensive loss $ (1,998.4) $ (1,970.5)

Stock Plans (Tables)

Stock Plans (Tables)	3 Months Ended
	Aug. 28, 2022
Stock Plans [Abstract]
Schedule of compensation expense related to stock-based payments [Table Text Block]	Quarter Ended In Millions Aug. 28, 2022 Aug. 29, 2021 Compensation expense related to stock-based payments $ 33.5 $ 33.6 Quarter Ended In Millions Aug. 28, 2022 Aug. 29, 2021 Windfall tax benefits from stock-based payments $ 12.8 $ 4.7
Schedule of net cash proceeds received from the exercise of stock options [Table Text Block]	Quarter Ended In Millions Aug. 28, 2022 Aug. 29, 2021 Net cash proceeds $ 65.5 $ 7.9 Intrinsic value of options exercised $ 32.0 $ 5.1
Schedule of estimated fair value of stock options granted and the assumptions used for the Black-Scholes option-pricing model [Table Text Block]	Quarter Ended Aug. 28, 2022 Aug. 29, 2021 Estimated fair values of stock options granted $ 14.16 $ 8.77 Assumptions: Risk-free interest rate 3.3 % 1.5 % Expected term 8.5 years 8.5 years Expected volatility 20.9 % 20.2 % Dividend yield 3.1 % 3.4 %
Total grant date fair value of restricted stock unit awards that vested during the period [Table Text Block]	Quarter Ended In Millions Aug. 28, 2022 Aug. 29, 2021 Total grant date fair $ 82.0 $ 69.5

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Aug. 28, 2022
Earnings Per Share [Abstract]
Schedule of earnings per share [Table Text Block]	Quarter Ended In Millions, Except per Share Data Aug. 28, 2022 Aug. 29, 2021 Net earnings attributable to General Mills $ 820.0 $ 627.0 Average number 600.2 610.4 Incremental share effect from: (a) Stock options 3.3 2.1 Restricted stock units and performance share units 2.5 2.3 Average number 606.0 614.8 Earnings per share – basic $ 1.37 $ 1.03 Earnings per share – diluted $ 1.35 $ 1.02 (a) method.
Schedule of anti-dilutive stock options, restricted stock units and performance share units [Table Text Block]	Quarter Ended In Millions Aug. 28, 2022 Aug. 29, 2021 Anti-dilutive stock options, restricted stock units, and 0.8 4.6

Share Repurchases (Tables)

Share Repurchases (Tables)	3 Months Ended
	Aug. 28, 2022
Share Repurchases [Abstract]
Schedule of share repurchases	Quarter Ended In Millions Aug. 28, 2022 Aug. 29, 2021 Shares of common stock 6.9 2.5 Aggregate purchase price $ 500.8 $ 150.1

Statements of Cash Flows (Table

Statements of Cash Flows (Tables)	3 Months Ended
	Aug. 28, 2022
Statements of Cash Flows [Abstract]
Consolidated Statements of Cash Flows [Table Text Block]	Quarter Ended In Millions Aug. 28, 2022 Aug. 29, 2021 Net cash interest payments $ 55.2 $ 69.9 Net income tax payments $ 9.0 $ 33.1

Retirement and Postemployment_2

Retirement and Postemployment Benefits (Tables)	3 Months Ended
	Aug. 28, 2022
Retirement and Postemployment Benefits [Abstract]
Schedule of components of net periodic benefit expense [Table Text Block]	Defined Benefit Pension Plans Other Postretirement Benefit Plans Postemployment Benefit Plans Quarter Ended Quarter Ended Quarter Ended In Millions Aug. 28, 2022 Aug. 29, 2021 Aug. 28, 2022 Aug. 29, 2021 Aug. 28, 2022 Aug. 29, 2021 Service cost $ 17.6 $ 23.7 $ 1.4 $ 1.9 $ 2.1 $ 1.8 Interest cost 64.6 46.3 4.5 3.2 0.8 0.4 Expected return on plan assets (105.0) (102.8) (7.8) (6.7) - - Amortization of losses (gains) 28.3 34.9 (4.9) (2.7) 0.1 0.8 Amortization of prior service costs (credits) 0.4 0.2 (5.8) (5.2) 0.1 0.1 Other adjustments - - - - 3.0 1.9 Curtailment gain - (14.8) - (5.5) - - Net expense (income) $ 5.9 $ (12.5) $ (12.6) $ (15.0) $ 6.1 $ 5.0

Business Segment and Geograph_2

Business Segment and Geographic Information (Tables)	3 Months Ended
	Aug. 28, 2022
Business Segment and Geographic Information [Abstract]
Schedule of operating segment results [Table Text Block]	Quarter Ended In Millions Aug. 28, 2022 Aug. 29, 2021 Net sales: North America Retail $ 2,988.8 $ 2,710.6 International 652.5 930.6 Pet 579.9 488.0 North America Foodservice 496.4 410.7 Total $ 4,717.6 $ 4,539.9 Operating profit: North America Retail $ 777.8 $ 648.6 International 34.8 60.6 Pet 123.1 115.2 North America Foodservice 53.6 71.8 Total segment operating $ 989.3 $ 896.2 Unallocated corporate items 333.0 56.2 Divestitures gain, net (430.9) - Restructuring, impairment, and other exit costs (recoveries) 1.6 (4.3) Operating profit $ 1,085.6 $ 844.3 Quarter Ended In Millions Aug. 28, 2022 Aug. 29, 2021 U.S. Meals & Baking Solutions $ 949.2 $ 861.5 U.S. Morning Foods 904.0 829.7 U.S. Snacks 887.2 780.1 Canada 248.4 239.3 Total $ 2,988.8 $ 2,710.6
Net sales by class of similar products [Table Text Block]	Quarter Ended In Millions Aug. 28, 2022 Aug. 29, 2021 Snacks $ 1,068.4 $ 954.5 Cereal 814.7 731.0 Convenient meals 679.2 695.5 Pet 580.8 488.0 Baking mixes and ingredients 473.5 396.3 Dough 464.8 405.2 Yogurt 346.0 505.9 Super-premium ice cream 183.5 244.8 Other 106.7 118.7 Total $ 4,717.6 $ 4,539.9

Acquisition and Divestitures (N

Acquisition and Divestitures (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Aug. 28, 2022	Aug. 29, 2021	May 29, 2022
Business Acquisition [Line Items]
Payments to Acquire Businesses, Gross	$ 252.1	$ 1,198.6
Goodwill	14,454.6		$ 14,378.5
Noncontrolling Interest [Line Items]
Net pre-tax gain	430.9	0
Helper main meals and Suddenly Salad side dishes business [Member]
Noncontrolling Interest [Line Items]
Sale price of business	606.8
Net pre-tax gain	442.2
Tyson Foods pet treats [Member]
Business Acquisition [Line Items]
Payments to Acquire Businesses, Gross		1,200
Goodwill		762.3
Tyson Foods pet treats [Member] | Customer Relationships [Member]
Business Acquisition [Line Items]
Finite-Lived Intangibles		40
Tyson Foods pet treats [Member] | Nudges, Top Chews and True Chews brands [Member]
Business Acquisition [Line Items]
Indefinite-Lived Intangible Assets		$ 330
TNT Crust [Member]
Business Acquisition [Line Items]
Payments to Acquire Businesses, Gross	253
Goodwill	$ 154.3

Restructuring, Impairment, an_3

Restructuring, Impairment, and Other Exit Costs (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Aug. 28, 2022	Aug. 29, 2021
Restructuring and Related Cost [Line Items]
Restructuring charges, impairment, and other exit costs	$ 2.3
Charges associated with restructuring actions previously announced [Member]
Restructuring and Related Cost [Line Items]
Cash payments for restructuring	$ 18	$ 15.4
Expected completion date of actions	May 26, 2024
International manufacturing and logistics operations [Member]
Restructuring and Related Cost [Line Items]
Restructuring charges, impairment, and other exit costs		$ 4.1

Restructuring, Impairment, an_4

Restructuring, Impairment, and Other Exit Costs ( Roll forward of restructuring and other exit cost reserves) (Details) $ in Millions	3 Months Ended
	Aug. 28, 2022 USD ($)
Restructuring Reserve [Roll Forward]
Reserve beginning balance	$ 36.8
Fiscal 2023 charges, including foreign currency translation	(0.4)
Utilized in fiscal 2023	(17.1)
Reserve ending balance	$ 19.3

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets (Narrative) (Details)	3 Months Ended
	Aug. 28, 2022 USD ($)
Goodwill and Other Intangible Assets [Abstract]
Future Amortization Expense, Year One	$ 20,000,000
Future Amortization Expense, Year Two	20,000,000
Future Amortization Expense, Year Three	20,000,000
Future Amortization Expense, Year Four	20,000,000
Future Amortization Expense, Year Five	20,000,000
Impairment of intangible assets	$ 0

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets (Schedule of components of goodwill and other intangible assets) (Details) - USD ($) $ in Millions	Aug. 28, 2022	May 29, 2022
Goodwill and Other Intangible Assets [Abstract]
Goodwill	$ 14,454.6	$ 14,378.5
Intangible assets not subject to amortization:
Brands and other indefinite-lived intangibles	6,706.4	6,725.8
Intangible assets subject to amortization:
Customer relationships and other finite-lived intangibles	402.1	400.3
Less accumulated amortization	(129.1)	(126.2)
Intangible assets subject to amortization, net	273	274.1
Other intangible assets	6,979.4	6,999.9
Total	$ 21,434	$ 21,378.4

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets (Schedule of changes in the carrying amount of goodwill) (Details) $ in Millions	3 Months Ended
	Aug. 28, 2022 USD ($)
Goodwill [Line Items]
Beginning balance	$ 14,378.5
Acquisition	154.3
Divestiture	(0.4)
Other activity, primarily foreign currency translation	(77.8)
Ending balance	14,454.6
North America Retail [Member]
Goodwill [Line Items]
Beginning balance	6,552.9
Acquisition	0
Divestiture	0
Other activity, primarily foreign currency translation	(3)
Ending balance	6,549.9
Pet [Member]
Goodwill [Line Items]
Beginning balance	6,062.8
Acquisition	0
Divestiture	0
Other activity, primarily foreign currency translation	0
Ending balance	6,062.8
North America Foodservice [Member]
Goodwill [Line Items]
Beginning balance	648.8
Acquisition	154.3
Divestiture	0
Other activity, primarily foreign currency translation	0
Ending balance	803.1
Europe & Australia [Member]
Goodwill [Line Items]
Beginning balance	721.6
Acquisition	0
Divestiture	(0.4)
Other activity, primarily foreign currency translation	(46.6)
Ending balance	674.6
Joint Ventures [Member]
Goodwill [Line Items]
Beginning balance	392.4
Acquisition	0
Divestiture	0
Other activity, primarily foreign currency translation	(28.2)
Ending balance	$ 364.2

Goodwill and Other Intangible_6

Goodwill and Other Intangible Assets (Schedule of changes in the carrying amount of other intangible assets) (Details) $ in Millions	3 Months Ended
	Aug. 28, 2022 USD ($)
Indefinite-lived Intangible Assets [Line Items]
Beginning balance	$ 6,999.9
Acquisition	3.8
Other activity, primarily foreign currency translation	(24.3)
Ending balance	$ 6,979.4

Goodwill and Other Intangible_7

Goodwill and Other Intangible Assets (Schedule of Uncle Toby's brand intangible asset) (Details) - USD ($) $ in Millions	Aug. 28, 2022	May 29, 2022
Indefinite-lived Intangible Assets [Line Items]
Carrying Value of Intangible Asset	$ 6,979.4	$ 6,999.9
Uncle Toby's brand [Member]
Indefinite-lived Intangible Assets [Line Items]
Carrying Value of Intangible Asset	$ 55
Excess Fair Value as of Fiscal 2022 Test Date	7%

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Aug. 28, 2022	May 29, 2022
Inventories [Abstract]
Raw materials and packaging	$ 579.6	$ 532
Finished goods	1,887	1,634.7
Grain	122.5	164
Excess of FIFO over LIFO cost	(499.2)	(463.4)
Total	$ 2,089.9	$ 1,867.3

Risk Management Activities (Nar

Risk Management Activities (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Aug. 28, 2022	Aug. 29, 2021
Derivative [Line Items]
Long-term debt, carrying value	$ 10,570
Credit Risk [Abstract]
Accounts Payable to Suppliers that Utilize Third Party Service	1,413.3	$ 1,312.8
Commodity Contracts [Member]
Derivative [Line Items]
Derivative, Notional Amount	$ 432.6
Derivative Contracts Inputs, Average Period of Utilization	12 months
Energy Related Derivative [Member]
Derivative [Line Items]
Derivative, Notional Amount	$ 152.4
Agricultural Related Derivative [Member]
Derivative [Line Items]
Derivative, Notional Amount	$ 280.2

Risk Management Activities (Sch

Risk Management Activities (Schedule of unallocated corporate items) (Details) - USD ($) $ in Millions	3 Months Ended
	Aug. 28, 2022	Aug. 29, 2021
Commodity Price Risk [Abstract]
Net (loss) gain on mark-to-market valuation of certain commodity positions	$ (72.3)	$ 30.4
Net gain on commodity positions reclassified from unallocated corporate items to segment operating profit	(43)	(34.7)
Net mark-to-market revaluation of certain grain inventories	(59.4)	28.4
Net mark-to-market valuation of certain commodity positions recognized in unallocated corporate items	$ (174.7)	$ 24.1

Debt (Narrative) (Details)

Debt (Narrative) (Details) € in Millions, $ in Millions	3 Months Ended
	Aug. 28, 2022 USD ($)	May 29, 2022 USD ($)	May 29, 2022 EUR (€)	Nov. 28, 2021 USD ($)	Nov. 28, 2021 EUR (€)	Aug. 29, 2021 USD ($)	Aug. 29, 2021 EUR (€)
Debt Instrument [Line Items]
Long-term debt, carrying value | $	$ 10,570
Issuance of long-term debt | $	0					$ 582.2
Repayment of long-term debt | $	$ 0					$ 612.1
Committed Credit Facilities [Member]
Debt Instrument [Line Items]
Minimum fixed charge coverage ratio	2.5
3.7 percent fixed rate notes due October 17, 2023 [Member]
Debt Instrument [Line Items]
Repayment of long-term debt | $		$ 850
Fixed interest rate percentage		3.70%	3.70%
Debt Instrument, Maturity Date		Oct. 17, 2023	Oct. 17, 2023
0.0 percent fixed-rate notes due November 11, 2022 [Member]
Debt Instrument [Line Items]
Issuance of long-term debt			€ 250
Fixed interest rate percentage		0%	0%
Debt Instrument, Maturity Date		Nov. 11, 2022	Nov. 11, 2022
0.125% fixed-rate notes due November 15, 2025 [Member]
Debt Instrument [Line Items]
Issuance of long-term debt					€ 500
Fixed interest rate percentage				0.125%	0.125%
Debt Instrument, Maturity Date				Nov. 15, 2025	Nov. 15, 2025
0.00% Fixed Rate Notes Due Nov. 16 2021 [Member]
Debt Instrument [Line Items]
Repayment of long-term debt					€ 500
Fixed interest rate percentage				0%	0%
Debt Instrument, Maturity Date				Nov. 16, 2021	Nov. 16, 2021
Floating-rate notes due May 16, 2023 [Member]
Debt Instrument [Line Items]
Issuance of long-term debt					€ 250
Debt Instrument, Maturity Date				May 16, 2023	May 16, 2023
2.25% notes due October 14, 2031 [Member]
Debt Instrument [Line Items]
Issuance of long-term debt | $				$ 500
Fixed interest rate percentage				2.25%	2.25%
Debt Instrument, Maturity Date				Oct. 14, 2031	Oct. 14, 2031
3.15% fixed-rate notes due December 15, 2021 [Member]
Debt Instrument [Line Items]
Repayment of long-term debt | $				$ 1,000
Fixed interest rate percentage				3.15%	3.15%
Debt Instrument, Maturity Date				Dec. 15, 2021	Dec. 15, 2021
Floating-rate notes due July 27, 2023 [Member]
Debt Instrument [Line Items]
Issuance of long-term debt							€ 500
Debt Instrument, Maturity Date						Jul. 27, 2023	Jul. 27, 2023
0.00% Fixed Rate Notes Due Aug.21, 2021 [Member]
Debt Instrument [Line Items]
Repayment of long-term debt							€ 500
Fixed interest rate percentage						0%	0%
Debt Instrument, Maturity Date						Aug. 21, 2021	Aug. 21, 2021
2.2% percent fixed-rate notes due June 24, 2021 [Member]
Debt Instrument [Line Items]
Repayment of long-term debt							€ 200
Fixed interest rate percentage						2.20%	2.20%
Debt Instrument, Maturity Date						Jun. 24, 2021	Jun. 24, 2021
2.2% percent fixed-rate notes due November 29, 2021 [Member]
Debt Instrument [Line Items]
Issuance of long-term debt							€ 50
Fixed interest rate percentage						2.20%	2.20%
Debt Instrument, Maturity Date						Nov. 29, 2021	Nov. 29, 2021
Long-term Debt Agreements Containing Restrictive Covenants [Member]
Debt Instrument [Line Items]
Covenant compliance	We were in compliance with all credit facility covenants as of August 28, 2022.
Certain long-term debt agreements containing restrictive covenants [Member]
Debt Instrument [Line Items]
Covenant compliance	As of August 28, 2022, we were in compliance with all of these covenants.
Fair Value Inputs Level 2 [Member]
Debt Instrument [Line Items]
Long-term debt, fair value | $	$ 10,129.1

Debt (Schedule of components of

Debt (Schedule of components of notes payable) (Details) - USD ($) $ in Millions	Aug. 28, 2022	May 29, 2022
Short-term Debt [Line Items]
Notes payable	$ 991.9	$ 811.4
U.S. commercial paper [Member]
Short-term Debt [Line Items]
Notes payable	839.8	694.8
Financial Institutions [Member]
Short-term Debt [Line Items]
Notes payable	$ 152.1	$ 116.6

Debt (Schedule of fee-paid comm

Debt (Schedule of fee-paid committed and uncommitted credit lines) (Details) $ in Billions	Aug. 28, 2022 USD ($)
Line Of Credit Facility [Line Items]
Facility Amount	$ 3.3
Borrowed Amount	0.2
Line of Credit Expiring April 2026 [Member]
Line Of Credit Facility [Line Items]
Facility Amount	2.7
Borrowed Amount	0
Uncommitted Credit Facilities [Member]
Line Of Credit Facility [Line Items]
Facility Amount	0.6
Borrowed Amount	$ 0.2

Redeemable and Noncontrolling_2

Redeemable and Noncontrolling Interests (Narratives) (Details) - USD ($) $ in Millions		3 Months Ended
	Jun. 01, 2021	Aug. 28, 2022	Aug. 29, 2021	Jul. 01, 2011
Noncontrolling Interest [Line Items]
Noncontrolling interests covenant compliance		Our noncontrolling interests contain restrictive covenants. As of August 28, 2022, we were in compliance with all of these covenants.
Yoplait SAS [Member]
Noncontrolling Interest [Line Items]
Redeemable interest percentage				49%
General Mills Cereals, LLC [Member] | Preferred Class A [Member] | Third Party Interest Holder [Member]
Noncontrolling Interest [Line Items]
Noncontrolling Interest Holders Capital Account, General Mills Cereals, LLC		$ 251.5
Preferred return rate adjustment period		3 years
Preferred distributions variable rate		three-month LIBOR
Preferred distributions, basis spread on variable rate	1.60%
Sodiaal Noncontrolling Interest [Member]
Noncontrolling Interest [Line Items]
Net purchases from related party			$ 50.1

Stockholders' Equity (Schedule

Stockholders' Equity (Schedule of total comprehensive income (loss)) (Details) - USD ($)	3 Months Ended
	Aug. 28, 2022	Aug. 29, 2021
Reclassification to earnings:
Foreign currency translation	$ (7,400,000)	$ 0
Other Comprehensive Income (Loss), Net of Tax:
Net earnings attributable to General Mills	820,000,000	627,000,000
Net earnings attributable to redeemable and noncontrolling interests	3,300,000	11,200,000
Foreign currency translation	3,800,000	(23,900,000)
Other fair value changes:
Hedge derivatives	(38,300,000)	1,700,000
Reclassification to earnings:
Hedge derivatives	(1,400,000)	10,600,000
Amortization of losses and prior service costs	14,100,000	8,400,000
Other comprehensive (loss) income, net of tax	(29,200,000)	(3,200,000)
Total comprehensive income (loss) attributable to General Mills	792,100,000	658,500,000
General Mills [Member]
Other comprehensive income (loss) Pretax:
Foreign currency translation	(48,000,000)	(11,900,000)
Other fair value changes:
Hedge derivatives	(49,800,000)	2,800,000
Reclassification to earnings:
Foreign currency translation	(7,400,000)	0
Hedge derivatives	(1,900,000)	12,000,000
Amortization of losses and prior service costs	18,200,000	10,800,000
Other comprehensive (loss) income (Pretax)	(88,900,000)	13,700,000
Other comprehensive income (loss) Tax:
Foreign currency translation	53,100,000	22,700,000
Other fair value changes:
Hedge derivatives	11,500,000	(1,000,000)
Reclassification to earnings:
Foreign currency translation	0	0
Hedge derivatives	500,000	(1,500,000)
Amortization of losses and prior service costs (b)	(4,100,000)	(2,400,000)
Other comprehensive income (loss), tax	61,000,000	17,800,000
Other Comprehensive Income (Loss), Net of Tax:
Net earnings attributable to General Mills	820,000,000	627,000,000
Foreign currency translation	5,100,000	10,800,000
Other fair value changes:
Hedge derivatives	(38,300,000)	1,800,000
Reclassification to earnings:
Foreign currency translation	(7,400,000)	0
Hedge derivatives	(1,400,000)	10,500,000
Amortization of losses and prior service costs	14,100,000	8,400,000
Other comprehensive (loss) income, net of tax	(27,900,000)	31,500,000
Total comprehensive income (loss) attributable to General Mills	792,100,000	658,500,000
Noncontrolling Interests [Member]
Other Comprehensive Income (Loss), Net of Tax:
Net earnings attributable to redeemable and noncontrolling interests	3,300,000	3,000,000
Foreign currency translation	(1,300,000)	(11,200,000)
Other fair value changes:
Hedge derivatives	0	0
Reclassification to earnings:
Foreign currency translation	0	0
Hedge derivatives	0	0
Amortization of losses and prior service costs	0	0
Other comprehensive (loss) income, net of tax	(1,300,000)	(11,200,000)
Total comprehensive income (loss) attributable to noncontrolling interests	$ 2,000,000	(8,200,000)
Redeemable Interest [Member]
Other Comprehensive Income (Loss), Net of Tax:
Net earnings attributable to redeemable and noncontrolling interests		8,200,000
Foreign currency translation		(23,500,000)
Other fair value changes:
Hedge derivatives		(100,000)
Reclassification to earnings:
Foreign currency translation		0
Hedge derivatives		100,000
Amortization of losses and prior service costs		0
Other comprehensive (loss) income, net of tax		(23,500,000)
Total comprehensive income (loss) attributable to redeemable interests		$ (15,300,000)

Stockholders' Equity (Schedul_2

Stockholders' Equity (Schedule of accumulated other comprehensive loss balances, net of tax effects) (Details) - USD ($) $ in Millions	Aug. 28, 2022	May 29, 2022
Accumulated Other Comprehensive Loss, Net of Tax Effects [Abstract]
Foreign currency translation adjustments	$ (593)	$ (590.7)
Unrealized gain (loss) from:
Hedge derivatives	(16.4)	23.3
Pension, other postretirement, and postemployment benefits:
Net actuarial loss	(1,495.2)	(1,513.4)
Prior service credits	106.2	110.3
Accumulated other comprehensive loss	$ (1,998.4)	$ (1,970.5)

Stock Plans (Narrative) (Detail

Stock Plans (Narrative) (Details) $ in Millions	3 Months Ended
	Aug. 28, 2022 USD ($)
Share-based Compensation Allocation and Classification in Financial Statements [Abstract]
Unrecognized compensation expense related to non-vested stock options, restricted stock, and performance share units	$ 166.8
Unrecognized compensation expense on non-vested awards weighted average period of recognition	26 months
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Method Used	We estimate the fair value of each stock option on the grant date using a Black-Scholes option-pricing model. Black-Scholes option-pricing models require us to make predictive assumptions regarding future stock price volatility, employee exercise behavior, and dividend yield. We estimate our future stock price volatility using the historical volatility over the expected term of the option, excluding time periods of volatility we believe a marketplace participant would exclude in estimating our stock price volatility. We also have considered, but did not use, implied volatility in our estimate, because trading activity in options on our stock, especially those with tenors of greater than 6 months, is insufficient to provide a reliable measure of expected volatility. Our method of selecting the other valuation assumptions is explained in Note 12 to the Consolidated Financial Statements included in our Annual Report on Form 10-K for the fiscal year ended May 29, 2022.

Stock Plans (Schedule of compen

Stock Plans (Schedule of compensation expense related to stock-based payments) (Details) - USD ($) $ in Millions	3 Months Ended
	Aug. 28, 2022	Aug. 29, 2021
Stock Plans [Abstract]
Compensation expense related to stock-based payments	$ 33.5	$ 33.6

Stock Plans (Schedule of Windfa

Stock Plans (Schedule of Windfall tax benefits from stock-based payments in income tax expense) (Details) - USD ($) $ in Millions	3 Months Ended
	Aug. 28, 2022	Aug. 29, 2021
Stock Plans [Abstract]
Windfall tax benefits from stock-based payments	$ 12.8	$ 4.7

Stock Plans (Schedule of net ca

Stock Plans (Schedule of net cash proceeds received from the exercise of stock options) (Details) - USD ($) $ in Millions	3 Months Ended
	Aug. 28, 2022	Aug. 29, 2021
Stock Plans [Abstract]
Net cash proceeds	$ 65.5	$ 7.9
Intrinsic value of options exercised	$ 32	$ 5.1

Stock Plans (Schedule of estima

Stock Plans (Schedule of estimated fair value of stock options granted and the assumptions used for the Black-Scholes option-pricing model) (Details) - $ / shares	3 Months Ended
	Aug. 28, 2022	Aug. 29, 2021
Stock Plans [Abstract]
Estimated fair values of stock options granted	$ 14.16	$ 8.77
Assumptions:
Risk-free interest rate	3.30%	1.50%
Expected term	8 years 6 months	8 years 6 months
Expected volatility	20.90%	20.20%
Dividend yield	3.10%	3.40%

Stock Plans (Schedule of grant

Stock Plans (Schedule of grant date fair value of restricted stock unit awards activity) (Details) - USD ($) $ in Millions	3 Months Ended
	Aug. 28, 2022	Aug. 29, 2021
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other Than Options, Additional Disclosures [Abstract]
Total grant date fair value	$ 82	$ 69.5

Earnings per Share (Schedule of

Earnings per Share (Schedule of earnings per share) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Aug. 28, 2022	Aug. 29, 2021
Earnings Per Share [Abstract]
Net earnings attributable to General Mills	$ 820	$ 627
Average number of common shares - basic EPS	600.2	610.4
Earnings Per Share, Basic and Diluted [Abstract]
Average number of common shares - diluted EPS	606	614.8
Earnings per share - basic	$ 1.37	$ 1.03
Earnings per share - diluted	$ 1.35	$ 1.02
Stock Options [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Incremental share effect	3.3	2.1
Restricted stock units and performance share units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Incremental share effect	2.5	2.3

Earnings per Share (Schedule _2

Earnings per Share (Schedule of anti-dilutive stock options, restricted stock units and performance share units (Details) - shares shares in Millions	3 Months Ended
	Aug. 28, 2022	Aug. 29, 2021
Other Disclosures [Abstract]
Anti-dilutive stock options, restricted stock units, and performance share units	0.8	4.6

Share Repurchases (Details)

Share Repurchases (Details) - Treasury Stock [Member] - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Aug. 28, 2022	Aug. 29, 2021
Shares of common stock	6.9	2.5
Aggregate purchase price	$ 500.8	$ 150.1

Statements of Cash Flows (Conso

Statements of Cash Flows (Consolidated Statements of Cash Flows) (Details) - USD ($) $ in Millions	3 Months Ended
	Aug. 28, 2022	Aug. 29, 2021
Statements of Cash Flows [Abstract]
Net cash interest payments	$ 55.2	$ 69.9
Net income tax payments	$ 9	$ 33.1

Retirement and Postemployment_3

Retirement and Postemployment Benefits (Schedule of Components of net periodic benefit (income) expense) (Details) - USD ($) $ in Millions	3 Months Ended
	Aug. 28, 2022	Aug. 29, 2021
Defined Benefit Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 17.6	$ 23.7
Interest cost	64.6	46.3
Expected return on plan assets	(105)	(102.8)
Amortization of losses (gains)	28.3	34.9
Amortization of prior service costs (credits)	0.4	0.2
Other adjustments	0	0
Curtailment gain	0	(14.8)
Net expense (income)	5.9	(12.5)
Other Postretirement Benefit Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	1.4	1.9
Interest cost	4.5	3.2
Expected return on plan assets	(7.8)	(6.7)
Amortization of losses (gains)	(4.9)	(2.7)
Amortization of prior service costs (credits)	(5.8)	(5.2)
Other adjustments	0	0
Curtailment gain	0	(5.5)
Net expense (income)	(12.6)	(15)
Postemployment Benefit Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	2.1	1.8
Interest cost	0.8	0.4
Expected return on plan assets	0	0
Amortization of losses (gains)	0.1	0.8
Amortization of prior service costs (credits)	0.1	0.1
Other adjustments	3	1.9
Curtailment gain	0	0
Net expense (income)	$ 6.1	$ 5

Business Segment and Geograph_3

Business Segment and Geographic Information (Schedule of operating segment results) (Details) - USD ($) $ in Millions	3 Months Ended
	Aug. 28, 2022	Aug. 29, 2021
Segment Reporting Information [Line Items]
Net sales	$ 4,717.6	$ 4,539.9
Operating profit	1,085.6	844.3
Divestitures gain, net	(430.9)	0
Restructuring, impairment, and other exit costs (recoveries)	1.6	(4.3)
Operating Segments [Member]
Segment Reporting Information [Line Items]
Net sales	4,717.6	4,539.9
Operating profit	989.3	896.2
Unallocated Corporate Items [Member]
Segment Reporting Information [Line Items]
Operating profit	333	56.2
North America Retail [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Net sales	2,988.8	2,710.6
Operating profit	777.8	648.6
U.S. Meals & Baking [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Net sales	949.2	861.5
U.S. Morning Foods [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Net sales	904	829.7
U.S. Snacks [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Net sales	887.2	780.1
Canada [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Net sales	248.4	239.3
International [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Net sales	652.5	930.6
Operating profit	34.8	60.6
Pet [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Net sales	579.9	488
Operating profit	123.1	115.2
North America Foodservice [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Net sales	496.4	410.7
Operating profit	$ 53.6	$ 71.8

Business Segment and Geograph_4

Business Segment and Geographic Information (Schedule of net sales by class of similar products) (Details) - USD ($) $ in Millions	3 Months Ended
	Aug. 28, 2022	Aug. 29, 2021
Product Information [Line Items]
Net sales	$ 4,717.6	$ 4,539.9
Snacks [Member]
Product Information [Line Items]
Net sales	1,068.4	954.5
Convenient meals [Member]
Product Information [Line Items]
Net sales	679.2	695.5
Cereal [Member]
Product Information [Line Items]
Net sales	814.7	731
Pet [Member]
Product Information [Line Items]
Net sales	580.8	488
Dough [Member]
Product Information [Line Items]
Net sales	464.8	405.2
Baking mixes and ingredients [Member]
Product Information [Line Items]
Net sales	473.5	396.3
Yogurt [Member]
Product Information [Line Items]
Net sales	346	505.9
Super-premium ice cream [Member]
Product Information [Line Items]
Net sales	183.5	244.8
Other [Member]
Product Information [Line Items]
Net sales	$ 106.7	$ 118.7