General Mills, Inc. (GIS) financial statements (2021 and earlier)
Company profile
| Business Address |
NUMBER ONE GENERAL MILLS BLVD MINNEAPOLIS, MN 55426 |
| State of Incorp. | DE |
| Fiscal Year End | May 31 |
| SIC | 204 - Grain Mill Products (benchmarking) |
| More info | Complete financial analysis Financial benchmarking |
Balance sheet (Statement of financial position) ($ in millions)
| 2/29/2020 TTM | 11/30/2019 TTM | 5/31/2019 | 5/31/2018 | 5/31/2017 | 5/31/2016 | 5/31/2015 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 607 | 560 | 450 | 399 | 766 | 764 | 334 | ||
| Cash and cash equivalents | 607 | 560 | 450 | 399 | 766 | 764 | 334 | ||
| Receivables | 1,731 | 1,773 | 1,680 | 1,684 | 1,430 | 1,361 | 1,387 | ||
| Inventory, net of allowances, customer advances and progress billings | 1,542 | 1,720 | 1,559 | 1,642 | 1,484 | 1,414 | 1,541 | ||
| Inventory | 1,542 | 1,720 | 1,559 | 1,642 | 1,484 | 1,414 | 1,541 | ||
| Prepaid expense | 169 | ||||||||
| Derivative instruments and hedges, assets | 81 | ||||||||
| Other current assets | 398 | 382 | 399 | 424 | |||||
| Other undisclosed current assets | 428 | 427 | 498 | (150) | |||||
| Total current assets: | 4,309 | 4,479 | 4,187 | 4,124 | 4,061 | 3,937 | 3,786 | ||
| Noncurrent Assets | |||||||||
| Property, plant and equipment | 3,535 | 3,589 | 3,787 | 4,047 | 3,688 | 3,744 | 3,783 | ||
| Long-term investments and receivables | 561 | ||||||||
| Long-term investments | 531 | ||||||||
| Due from related parties | 31 | ||||||||
| Intangible assets, net (including goodwill) | 21,059 | 21,107 | 21,163 | 21,510 | 13,278 | 13,280 | 13,552 | ||
| Goodwill | 13,951 | 13,974 | 13,996 | 14,065 | 8,747 | 8,741 | 8,875 | ||
| Intangible assets, net (excluding goodwill) | 7,108 | 7,133 | 7,167 | 7,445 | 4,530 | 4,539 | 4,677 | ||
| Other noncurrent assets | 1,346 | 1,278 | 975 | 943 | 786 | 752 | 844 | ||
| Defined benefit plan, assets for plan benefits | ✕ | ✕ | ✕ | ✕ | 138 | ||||
| Other undisclosed noncurrent assets | (700) | ||||||||
| Total noncurrent assets: | 25,940 | 25,974 | 25,925 | 26,500 | 17,751 | 17,775 | 18,179 | ||
| TOTAL ASSETS: | 30,249 | 30,452 | 30,111 | 30,624 | 21,813 | 21,712 | 21,965 | ||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 2,932 | 3,063 | 2,854 | 2,746 | 2,120 | 2,047 | 2,723 | ||
| Accounts payable | 2,932 | 3,063 | 2,854 | 2,746 | 2,120 | 2,047 | 1,684 | ||
| Accrued liabilities | 565 | ||||||||
| Employee-related liabilities | 362 | ||||||||
| Taxes payable | 21 | ||||||||
| Interest and dividends payable | 92 | ||||||||
| Debt | 2,038 | 2,882 | 2,865 | 3,150 | 1,839 | 1,373 | 1,616 | ||
| Derivative instruments and hedges, liabilities | 123 | ||||||||
| Liability for uncertainty in income taxes | 1 | ||||||||
| Other liabilities | 1,727 | 1,417 | 1,368 | 1,446 | 1,372 | 1,595 | 1,590 | ||
| Other undisclosed current liabilities | (1,163) | ||||||||
| Total current liabilities: | 6,697 | 7,362 | 7,087 | 7,342 | 5,331 | 5,015 | 4,890 | ||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation, including: | 11,590 | 11,262 | 11,625 | 12,669 | 7,643 | 7,058 | 7,608 | ||
| Long-term debt, excluding current maturities | 11,590 | 10,953 | |||||||
| Operating lease, liability | 309 | ✕ | ✕ | ✕ | ✕ | ✕ | |||
| Other undisclosed long-term debt and lease obligation | 11,625 | 12,669 | 7,643 | 7,058 | 7,608 | ||||
| Liabilities, other than long-term debt | 3,564 | 1,555 | 3,480 | 3,345 | 3,243 | 3,487 | 3,498 | ||
| Accounts payable and accrued liabilities | 203 | ||||||||
| Deferred tax liabilities, net | ✕ | ✕ | 2,031 | 2,004 | 1,719 | 1,400 | 1,550 | ||
| Deferred income tax liabilities | 2,027 | ✕ | ✕ | ✕ | ✕ | ✕ | |||
| Other liabilities | 1,537 | 1,555 | 1,449 | 1,341 | 1,523 | 2,088 | 1,745 | ||
| Other undisclosed noncurrent liabilities | 1,707 | (203) | |||||||
| Total noncurrent liabilities: | 15,153 | 14,524 | 15,105 | 16,014 | 10,885 | 10,545 | 10,903 | ||
| Total liabilities: | 21,850 | 21,887 | 22,192 | 23,355 | 16,216 | 15,560 | 15,793 | ||
| Stockholders' equity | |||||||||
| Stockholders' equity attributable to parent | 7,575 | 7,712 | 7,055 | 6,141 | 4,328 | 4,930 | 4,997 | ||
| Common stock | 76 | 76 | 76 | 76 | 76 | 76 | 76 | ||
| Treasury stock, value | (6,611) | (6,662) | (6,779) | (7,168) | (7,763) | (6,327) | (6,056) | ||
| Additional paid in capital | 1,335 | 1,387 | 1,387 | 1,203 | 1,121 | 1,177 | 1,297 | ||
| Accumulated other comprehensive loss | (2,585) | (2,590) | (2,625) | (2,429) | (2,245) | (2,612) | (2,311) | ||
| Retained earnings | 15,360 | 15,502 | 14,997 | 14,460 | 13,139 | 12,617 | 11,991 | ||
| Stockholders' equity attributable to noncontrolling interest | 285 | 308 | 313 | 351 | 358 | 377 | 396 | ||
| Total stockholders' equity: | 7,860 | 8,021 | 7,368 | 6,492 | 4,686 | 5,307 | 5,393 | ||
| Other undisclosed liabilities and equity | 539 | 545 | 552 | 776 | 911 | 846 | |||
| TOTAL LIABILITIES AND EQUITY: | 30,249 | 30,452 | 30,111 | 30,624 | 21,813 | 21,712 | 21,186 | ||
Income statement (P&L) ($ in millions)
| 2/29/2020 TTM | 11/30/2019 TTM | 5/31/2019 | 5/31/2018 | 5/31/2017 | 5/31/2016 | 5/31/2015 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 16,765 | 16,783 | 16,865 | 15,740 | 15,620 | 16,563 | 17,630 | |
| Revenue, net | ✕ | ✕ | ✕ | 15,740 | 15,620 | 16,563 | 17,630 | |
| Cost of revenue (Cost of Goods and Services Sold) | (10,942) | (10,920) | (11,108) | (10,313) | (10,056) | (10,734) | (11,681) | |
| Gross profit: | 5,823 | 5,863 | 5,757 | 5,428 | 5,564 | 5,830 | 5,949 | |
| Operating expenses | (2,983) | (3,022) | (3,241) | (2,918) | (2,997) | (3,122) | (4,101) | |
| Other undisclosed operating income | 229 | |||||||
| Operating income: | 2,841 | 2,841 | 2,516 | 2,509 | 2,566 | 2,707 | 2,077 | |
| Nonoperating income | 115 | 106 | 88 | 13 | ||||
| Investment income, nonoperating | 13 | |||||||
| Net periodic defined benefits expense (reversal of expense), excluding service cost component | 115 | 106 | 88 | ✕ | ✕ | ✕ | ✕ | |
| Interest and debt expense | (473) | (494) | (522) | (374) | (295) | (304) | (315) | |
| Other undisclosed loss from continuing operations before equity method investments, income taxes | (13) | |||||||
| Income from continuing operations before equity method investments, income taxes: | 2,483 | 2,454 | 2,082 | 2,136 | 2,271 | 2,404 | 1,762 | |
| Income from equity method investments | 78 | 79 | 72 | 85 | 85 | 88 | 84 | |
| Income from continuing operations before income taxes: | 2,561 | 2,532 | 2,154 | 2,220 | 2,356 | 2,492 | 1,846 | |
| Income tax expense | (396) | (373) | (368) | (57) | (655) | (755) | (587) | |
| Net income: | 2,165 | 2,159 | 1,786 | 2,163 | 1,701 | 1,737 | 1,259 | |
| Net loss attributable to noncontrolling interest | (39) | (41) | (34) | (32) | (44) | (39) | ||
| Other undisclosed net loss attributable to parent | (38) | |||||||
| Net income available to common stockholders, diluted: | 2,126 | 2,118 | 1,753 | 2,131 | 1,658 | 1,697 | 1,221 | |
Comprehensive Income ($ in millions)
| 2/29/2020 TTM | 11/30/2019 TTM | 5/31/2019 | 5/31/2018 | 5/31/2017 | 5/31/2016 | 5/31/2015 | ||
|---|---|---|---|---|---|---|---|---|
| Net income: | 2,165 | 2,159 | 1,786 | 2,163 | 1,701 | 1,737 | 1,259 | |
| Other undisclosed comprehensive income (loss) | (215) | (158) | (230) | 140 | 338 | (330) | (1,079) | |
| Comprehensive income: | 1,950 | 2,001 | 1,557 | 2,303 | 2,039 | 1,407 | 181 | |
| Comprehensive loss, net of tax, attributable to noncontrolling interest | (39) | (41) | (34) | (32) | (44) | (39) | ||
| Other undisclosed comprehensive income (loss), net of tax, attributable to parent | (10) | (12) | 33 | 5 | 30 | 28 | 70 | |
| Comprehensive income, net of tax, attributable to parent: | 1,902 | 1,948 | 1,556 | 2,276 | 2,025 | 1,396 | 251 | |
Statements sources
The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.