GENERAL MILLS INC
For the period ended Feb 23, 2025. Filed Mar 19, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Feb 23, 2025 · Filed Mar 19, 2025
Contents
Item 1. Consolidated Balance Sheets as of February 23, 2025 and May 26, 2024
Consolidated Balance Sheets
(In Millions, Except Par Value)
(Unaudited)
ASSETS
Current assets:
Cash and cash equivalents
$
521.3
$
418.0
Receivables
1,791.0
1,696.2
1,811.6
1,898.2
401.9
568.5
Assets held for sale
730.2
Total current
assets
5,256.0
4,580.9
Land, buildings, and equipment
3,460.5
3,863.9
7,059.0
6,979.9
Other assets
1,412.0
1,294.5
Total assets
$
32,706.2
$
31,469.9
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable
$
3,692.3
$
3,987.8
Current portion of long-term debt
1,941.0
1,614.1
Notes payable
406.7
11.8
1,815.7
1,419.4
Liabilities held for sale
20.5
Total current
liabilities
7,876.2
7,033.1
Long-term debt
11,839.6
11,304.2
Deferred income taxes
2,263.9
2,200.6
Other liabilities
1,213.9
1,283.5
Total liabilities
23,193.6
21,821.4
Stockholders’ equity:
754.6
shares issued, $
0.10
75.5
75.5
Additional paid-in capital
1,194.9
1,227.0
Retained earnings
20,971.8
Common stock in treasury,
at cost, shares of
207.1
and
195.5
(10,357.9)
Accumulated other comprehensive loss
Total stockholders’
equity
9,263.2
9,396.7
Noncontrolling interests
249.4
251.8
Total equity
9,512.6
9,648.5
Total liabilities and equity
$
32,706.2
$
31,469.9
Consolidated Statements of Total
Equity
Shares
Amount
Shares
Amount
beginning balance
$
9,449.2
$
9,631.9
billion shares authorized, $
0.10
754.6
75.5
754.6
75.5
Additional paid-in capital:
1,182.0
1,201.8
(9.6)
(11.1)
Unearned compensation related to stock unit awards
2.3
1.8
Earned compensation
20.2
17.8
1,194.9
1,210.3
Retained earnings:
21,340.3
20,080.9
625.6
670.1
Cash dividends declared ($
0.60
and $
0.59
per share)
(329.9)
(334.3)
20,416.7
Common stock in treasury:
(202.4)
(10,873.3)
(185.7)
(9,677.4)
Shares purchased, including excise tax of $
2.9
and
$
2.8
million
(4.8)
(304.4)
(4.7)
(303.1)
0.1
8.9
0.3
12.1
(207.1)
(190.1)
(9,968.4)
Accumulated other comprehensive loss:
(2,523.8)
(2,302.0)
49.4
4.7
(2,297.3)
Noncontrolling interests:
248.5
253.1
5.4
6.0
(4.5)
(4.6)
249.4
254.5
ending balance
$
9,512.6
$
9,691.3
Consolidated Statements of Total
Equity
Shares
Amount
Shares
Amount
beginning balance
$
9,648.5
$
10,700.0
billion shares authorized, $
0.10
754.6
75.5
754.6
75.5
Additional paid-in capital:
1,227.0
1,222.4
(18.9)
(10.3)
Unearned compensation related to stock unit awards
(79.4)
(78.1)
Earned compensation
66.2
76.3
1,194.9
1,210.3
Retained earnings:
20,971.8
19,838.6
2,001.2
1,939.1
Cash dividends declared ($
2.40
and $
2.36
per share)
(1,337.0)
(1,361.0)
20,416.7
Common stock in treasury:
(195.5)
(10,357.9)
(168.0)
(8,410.0)
Shares purchased, including excise tax of $
7.7
and
$
15.0
million
(13.5)
(909.6)
(23.5)
(1,616.6)
1.9
98.7
1.4
58.2
(207.1)
(190.1)
(9,968.4)
Accumulated other comprehensive loss:
(2,276.9)
Comprehensive income (loss)
45.3
(20.4)
(2,297.3)
Noncontrolling interests:
251.8
250.4
14.9
20.0
(17.3)
(16.6)
Change in ownership interest
0.7
249.4
254.5
ending balance
$
9,512.6
$
9,691.3
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