General Mills, Inc. (GIS) Financial Statements (2024 and earlier)

Company Profile

Business Address NUMBER ONE GENERAL MILLS BLVD
MINNEAPOLIS, MN 55426
State of Incorp. DE
Fiscal Year End May 31
Industry (SIC) 204 - Grain Mill Products (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in millions)

11/30/2023
MRQ
5/31/2023
11/30/2022
MRQ
5/31/2022
5/31/2021
5/31/2020
5/31/2019
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments5866445691,5051,678450
Cash and cash equivalents5866445691,5051,678450
Receivables1,6831,8341,6921,6391,6151,680
Inventory, net of allowances, customer advances and progress billings2,1722,1211,8671,8211,4261,559
Inventory2,1722,1211,8671,8211,4261,559
Disposal group, including discontinued operation   159   
Other undisclosed current assets736731802790402498
Total current assets:5,1765,3315,0905,7555,1214,187
Noncurrent Assets
Property, plant and equipment3,6363,3583,3943,6073,5813,787
Intangible assets, net (including goodwill)21,47921,45121,37821,21321,01921,163
Goodwill14,51114,47614,37914,06213,92313,996
Intangible assets, net (excluding goodwill)6,9686,9757,0007,1517,0967,167
Other noncurrent assets1,1601,1801,2281,2681,086975
Total noncurrent assets:26,27525,98926,00026,08725,68525,925
TOTAL ASSETS:31,45231,32031,09031,84230,80730,111
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities4,1944,0233,9823,6543,2482,854
Accounts payable4,1944,0233,9823,6543,2482,854
Debt1,7413,1182,4862,8252,6112,865
Other liabilities1,6012,0681,5521,7871,6331,368
Total current liabilities:7,5369,2088,0208,2667,4927,087
Noncurrent Liabilities
Long-term debt and lease obligation, including:9,9658,6239,1359,78710,92911,625
Long-term debt, excluding current maturities  8,623    
Other undisclosed long-term debt and lease obligation9,965 9,1359,78710,65211,625
Liabilities, other than long-term debt3,2513,1173,1473,4113,4923,480
Deferred tax liabilities, net2,031
Deferred income tax liabilities2,1112,1872,2182,1181,947
Other liabilities1,1409309291,2931,5451,449
Operating lease, liability     277
Total noncurrent liabilities:13,21611,74012,28213,19814,42115,105
Total liabilities:20,75220,94820,30221,46421,91322,192
Equity
Equity, attributable to parent10,45010,12110,5429,4708,0597,055
Common stock767676767676
Treasury stock, value(8,410)(8,024)(7,278)(6,611)(6,433)(6,779)
Additional paid in capital1,2221,1551,1831,3661,3491,387
Accumulated other comprehensive loss(2,277)(2,078)(1,971)(2,429)(2,914)(2,625)
Retained earnings19,83918,99218,53317,07015,98214,997
Equity, attributable to noncontrolling interest250251246303291313
Total equity:10,70010,37210,7889,7738,3507,368
Other undisclosed liabilities and equity    605545552
TOTAL LIABILITIES AND EQUITY:31,45231,32031,09031,84230,80730,111

Income Statement (P&L) ($ in millions)

11/30/2023
TTM
5/31/2023
11/30/2022
TTM
5/31/2022
5/31/2021
5/31/2020
5/31/2019
Revenues1,9572,5092,1342,18917,62716,865
Cost of revenue
(Cost of Goods and Services Sold)
(13,548)(13,041)(12,591)(11,679)(11,497)(11,108)
Gross profit:(11,591)(10,532)(10,456)(9,490)6,1305,757
Operating expenses(3,112)(2,610)(2,926)(3,304)(3,176)(3,241)
Other undisclosed operating income18,13716,85916,85915,938  
Operating income:3,4343,7173,4763,1452,9542,516
Nonoperating income
(Net Periodic Defined Benefits Expense (Reversal of Expense), Excluding Service Cost Component)
8910011313311388
Interest and debt expense(382)(370)(380)(420)(467)(522)
Income from continuing operations before equity method investments, income taxes:3,1413,4463,2102,8572,6002,082
Income from equity method investments81951121189172
Income from continuing operations before income taxes:3,2223,5413,3212,9752,6912,154
Income tax expense(612)(621)(586)(629)(481)(368)
Income from continuing operations:2,6102,9202,7352,3462,2111,786
Income before gain (loss) on sale of properties:2,9202,7352,3462,2111,786
Net income:2,6102,9202,7352,3462,2111,786
Net loss attributable to noncontrolling interest(16)(11)(28)(6)(30)(34)
Net income available to common stockholders, diluted:2,5942,9092,7072,3402,1811,753

Comprehensive Income ($ in millions)

11/30/2023
TTM
5/31/2023
11/30/2022
TTM
5/31/2022
5/31/2021
5/31/2020
5/31/2019
Net income:2,6102,9202,7352,3462,2111,786
Other undisclosed comprehensive loss      (230)
Comprehensive income:2,6102,9202,7352,3462,2111,557
Comprehensive loss, net of tax, attributable to noncontrolling interest(16)(11)(28)(6)(30)(34)
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(306)286459485(289)33
Comprehensive income, net of tax, attributable to parent:2,2883,1953,1662,8251,8921,556

Statements Sources

The financial statements are based on the Company's filings with 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.

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