1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
\n\u00a0
\nThe accompanying Condensed Consolidated Financial Statements of Conagra Brands, Inc. (the \"Company\", \"Conagra Brands\", \"we\", \"us\", or \"our\") have been prepared in accordance with U.S. generally accepted accounting principles (\"U.S. GAAP\") for interim financial information and with the rules and regulations for reporting on Form 10-Q. Accordingly, they do not include certain information and disclosures required for comprehensive financial statements. 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. During the second quarter of fiscal 2024, we determined that certain assets and liabilities were held for sale. We have reclassified these assets and liabilities within our Condensed Consolidated Balance Sheets for all periods presented (see Note 2).\u00a0All other adjustments are of a normal recurring nature. 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. These Condensed Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and related notes included in our Annual Report on Form 10-K for the fiscal year ended May 28, 2023.\u00a0There were no significant changes to our accounting policies from those disclosed in Note 1, \"Summary of Significant Accounting Policies\", to the Consolidated Financial Statements in that Form 10-K.
\n\u00a0
\nRecently Adopted Accounting Pronouncements
\n\u00a0
\nIn September 2022, the Financial Accounting Standards Board (\"FASB\") issued Accounting Standards Update (\"ASU\") 2022-04, Supplier Finance Programs (Topic 405-50) - Disclosure of Supplier Finance Program Obligations, to add disclosure requirements related to supplier financing programs under Accounting Standards Codification 405, Liabilities. The guidance requires entities that maintain supplier financing programs to provide information in their financial statements about their use of supplier finance programs and their effect on the entity's working capital, liquidity, and cash flows. Specifically, the amendment requires entities to disclose the key terms of their programs, amounts outstanding, balance sheet presentation, and a roll-forward of amounts outstanding during the annual period. Only the amount outstanding at the end of the period is required to be disclosed in interim periods. We adopted this ASU when it became effective in the first quarter of fiscal 2024, except for the roll-forward requirement, which will be effective in fiscal 2025. The adoption\u00a0of this ASU did not\u00a0have a significant impact on our financial statements and related disclosures.
\n\u00a0
\nRecently Issued\u00a0Accounting Pronouncements
\n\u00a0
\nIn November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The disclosure requirements must be applied retrospectively to all prior periods presented in the financial statements. The effective date for the standard is for fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. We are in the process of analyzing the impact of the ASU on our related disclosures.
\n\u00a0
\nIn December\u00a02023, the FASB issued ASU 2023-09, Improvements to Income Tax Disclosures,\u00a0to provide\u00a0more detailed income tax disclosure requirements. The guidance requires entities to disclose disaggregated information about their effective tax rate reconciliation as well as information on income taxes paid. The disclosure requirements will be applied on a prospective basis, with the option to apply it retrospectively. The effective date for the standard is for fiscal years beginning after December 15, 2024. Early adoption is permitted. We are in the process of analyzing the impact of the ASU on our related disclosures.
\n "}]},{"name":"rpt:f-364","factDimensions":{"xbrl:concept":"us-gaap:BasisOfAccountingPolicyPolicyTextBlock","xbrl:period":"2023-05-29T00:00:00/2023-11-27T00:00:00","xbrl:entity":"cik:0000023217"},"factValues":[{"value":"The accompanying Condensed Consolidated Financial Statements of Conagra Brands, Inc. (the \"Company\", \"Conagra Brands\", \"we\", \"us\", or \"our\") have been prepared in accordance with U.S. generally accepted accounting principles (\"U.S. GAAP\") for interim financial information and with the rules and regulations for reporting on Form 10-Q. Accordingly, they do not include certain information and disclosures required for comprehensive financial statements. 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. During the second quarter of fiscal 2024, we determined that certain assets and liabilities were held for sale. We have reclassified these assets and liabilities within our Condensed Consolidated Balance Sheets for all periods presented (see Note 2).\u00a0All other adjustments are of a normal recurring nature. 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. These Condensed Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and related notes included in our Annual Report on Form 10-K for the fiscal year ended May 28, 2023.\u00a0There were no significant changes to our accounting policies from those disclosed in Note 1, \"Summary of Significant Accounting Policies\", to the Consolidated Financial Statements in that Form 10-K."}]},{"name":"rpt:f-365","factDimensions":{"xbrl:concept":"us-gaap:NewAccountingPronouncementsPolicyPolicyTextBlock","xbrl:period":"2023-05-29T00:00:00/2023-11-27T00:00:00","xbrl:entity":"cik:0000023217"},"factValues":[{"value":"Recently Adopted Accounting Pronouncements
\n\u00a0
\nIn September 2022, the Financial Accounting Standards Board (\"FASB\") issued Accounting Standards Update (\"ASU\") 2022-04, Supplier Finance Programs (Topic 405-50) - Disclosure of Supplier Finance Program Obligations, to add disclosure requirements related to supplier financing programs under Accounting Standards Codification 405, Liabilities. The guidance requires entities that maintain supplier financing programs to provide information in their financial statements about their use of supplier finance programs and their effect on the entity's working capital, liquidity, and cash flows. Specifically, the amendment requires entities to disclose the key terms of their programs, amounts outstanding, balance sheet presentation, and a roll-forward of amounts outstanding during the annual period. Only the amount outstanding at the end of the period is required to be disclosed in interim periods. We adopted this ASU when it became effective in the first quarter of fiscal 2024, except for the roll-forward requirement, which will be effective in fiscal 2025. The adoption\u00a0of this ASU did not\u00a0have a significant impact on our financial statements and related disclosures.
\n\u00a0
\nRecently Issued\u00a0Accounting Pronouncements
\n\u00a0
\nIn November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The disclosure requirements must be applied retrospectively to all prior periods presented in the financial statements. The effective date for the standard is for fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. We are in the process of analyzing the impact of the ASU on our related disclosures.
\n\u00a0
\nIn December\u00a02023, the FASB issued ASU 2023-09, Improvements to Income Tax Disclosures,\u00a0to provide\u00a0more detailed income tax disclosure requirements. The guidance requires entities to disclose disaggregated information about their effective tax rate reconciliation as well as information on income taxes paid. The disclosure requirements will be applied on a prospective basis, with the option to apply it retrospectively. The effective date for the standard is for fiscal years beginning after December 15, 2024. Early adoption is permitted. We are in the process of analyzing the impact of the ASU on our related disclosures.
"}]},{"name":"rpt:f-366","factDimensions":{"xbrl:concept":"us-gaap:DisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlock","xbrl:period":"2023-05-29T00:00:00/2023-11-27T00:00:00","xbrl:entity":"cik:0000023217"},"factValues":[{"value":" \n2. ASSETS HELD FOR SALE
\n\u00a0
\nDuring the second quarter of fiscal 2024, we initiated a plan to sell a business with operating results included within our International segment. The assets and liabilities have been reclassified as assets and liabilities held for sale within our Condensed Consolidated Balance Sheets for all periods presented and are expected to be sold within twelve months of initiating our plan. In connection with this activity, we recognized an impairment charge\u00a0of $34.2 million within selling, general and administrative (\"SG&A\") expenses in the second quarter of fiscal 2024.\u00a0
\n\u00a0
\n \n \nThe assets and liabilities classified as held for sale reflected in our Condensed Consolidated Balance Sheets were as follows:
\n\u00a0
\n\u00a0
\n \n| \u00a0 | \u00a0 | November 26, 2023 | \u00a0 | \u00a0 | May 28, 2023 | \u00a0 | ||
| Current assets | \u00a0 | $ | 30.2 | \u00a0 | \u00a0 | $ | 34.3 | \u00a0 |
| Noncurrent assets (including goodwill of $ million and $ million, respectively) | \u00a0 | \u00a0 | 89.5 | \u00a0 | \u00a0 | \u00a0 | 123.3 | \u00a0 |
| Current liabilities | \u00a0 | \u00a0 | 13.1 | \u00a0 | \u00a0 | \u00a0 | 16.1 | \u00a0 |
| Noncurrent liabilities | \u00a0 | \u00a0 | 1.9 | \u00a0 | \u00a0 | \u00a0 | 5.3 | \u00a0 |
\u00a0
\n "}]},{"name":"rpt:f-367","factDimensions":{"xbrl:concept":"us-gaap:AssetImpairmentCharges","xbrl:period":"2023-08-28T00:00:00/2023-11-27T00:00:00","xbrl:entity":"cik:0000023217","xbrl:unit":"iso4217:USD","us-gaap:IncomeStatementLocationAxis":"us-gaap:SellingGeneralAndAdministrativeExpensesMember"},"factValues":[{"value":"34200000","decimals":-5}]},{"name":"rpt:f-368","factDimensions":{"xbrl:concept":"us-gaap:ScheduleOfDisposalGroupsIncludingDiscontinuedOperationsIncomeStatementBalanceSheetAndAdditionalDisclosuresTextBlock","xbrl:period":"2023-05-29T00:00:00/2023-11-27T00:00:00","xbrl:entity":"cik:0000023217"},"factValues":[{"value":" \n| \u00a0 | \u00a0 | November 26, 2023 | \u00a0 | \u00a0 | May 28, 2023 | \u00a0 | ||
| Current assets | \u00a0 | $ | 30.2 | \u00a0 | \u00a0 | $ | 34.3 | \u00a0 |
| Noncurrent assets (including goodwill of $ million and $ million, respectively) | \u00a0 | \u00a0 | 89.5 | \u00a0 | \u00a0 | \u00a0 | 123.3 | \u00a0 |
| Current liabilities | \u00a0 | \u00a0 | 13.1 | \u00a0 | \u00a0 | \u00a0 | 16.1 | \u00a0 |
| Noncurrent liabilities | \u00a0 | \u00a0 | 1.9 | \u00a0 | \u00a0 | \u00a0 | 5.3 | \u00a0 |
3. RESTRUCTURING ACTIVITIES
\n\u00a0
\nSee our Consolidated Financial Statements and related notes included in our Annual Report on Form 10-K for the fiscal year ended\u00a0 May 28, 2023 for additional information on our restructuring activities.\u00a0
\n\u00a0
\nConagra Restructuring Plan
\n\u00a0
\nIn fiscal 2019, senior management initiated a restructuring plan for costs incurred in connection with actions taken to improve SG&A\u00a0expense effectiveness and efficiencies and to optimize our supply chain network (the \"Conagra Restructuring Plan\"). As of\u00a0 November 26, 2023, we had\u00a0approved the incurrence of $228.8\u00a0million ($69.5\u00a0million of cash charges and $159.3 million of non-cash charges) for several projects associated with the Conagra Restructuring Plan. In the second quarter and first half of fiscal 2024, we recognized charges of $3.6\u00a0million and $27.4\u00a0million, respectively, in connection with the Conagra Restructuring Plan. In the second quarter and first half of fiscal\u00a02023, we recognized charges of $1.8 million and $5.9 million, respectively, in connection with the Conagra Restructuring Plan. We have recognized cumulative charges of $180.3\u00a0million since the inception of this plan through November 26, 2023. We expect to incur costs related to the Conagra Restructuring Plan over a multi-year period.
\n\u00a0
\nDuring the first half\u00a0of fiscal 2024, we recognized the following pre-tax expenses for the Conagra Restructuring Plan:
\n\u00a0
\n \n| \u00a0 | \u00a0 | Grocery & Snacks | \u00a0 | \u00a0 | Refrigerated & Frozen | \u00a0 | \u00a0 | International | \u00a0 | \u00a0 | Corporate | \u00a0 | \u00a0 | Total | \u00a0 | |||||
| Accelerated depreciation | \u00a0 | $ | 5.9 | \u00a0 | \u00a0 | $ | 0.2 | \u00a0 | \u00a0 | $ | \u2014 | \u00a0 | \u00a0 | $ | \u2014 | \u00a0 | \u00a0 | $ | 6.1 | \u00a0 |
| Other cost of goods sold | \u00a0 | \u00a0 | \u2014 | \u00a0 | \u00a0 | \u00a0 | \u2014 | \u00a0 | \u00a0 | \u00a0 | 0.9 | \u00a0 | \u00a0 | \u00a0 | \u2014 | \u00a0 | \u00a0 | \u00a0 | 0.9 | \u00a0 |
| Total cost of goods sold | \u00a0 | \u00a0 | 5.9 | \u00a0 | \u00a0 | \u00a0 | 0.2 | \u00a0 | \u00a0 | \u00a0 | 0.9 | \u00a0 | \u00a0 | \u00a0 | \u2014 | \u00a0 | \u00a0 | \u00a0 | 7.0 | \u00a0 |
| Severance and related costs | \u00a0 | \u00a0 | 0.7 | \u00a0 | \u00a0 | \u00a0 | \u2014 | \u00a0 | \u00a0 | \u00a0 | 4.1 | \u00a0 | \u00a0 | \u00a0 | \u2014 | \u00a0 | \u00a0 | \u00a0 | 4.8 | \u00a0 |
| Asset impairment | \u00a0 | \u00a0 | 0.6 | \u00a0 | \u00a0 | \u00a0 | \u2014 | \u00a0 | \u00a0 | \u00a0 | 14.1 | \u00a0 | \u00a0 | \u00a0 | \u2014 | \u00a0 | \u00a0 | \u00a0 | 14.7 | \u00a0 |
| Consulting/professional fees | \u00a0 | \u00a0 | 0.2 | \u00a0 | \u00a0 | \u00a0 | \u2014 | \u00a0 | \u00a0 | \u00a0 | \u2014 | \u00a0 | \u00a0 | \u00a0 | \u2014 | \u00a0 | \u00a0 | \u00a0 | 0.2 | \u00a0 |
| Other SG&A | \u00a0 | \u00a0 | \u2014 | \u00a0 | \u00a0 | \u00a0 | 0.6 | \u00a0 | \u00a0 | \u00a0 | \u2014 | \u00a0 | \u00a0 | \u00a0 | 0.1 | \u00a0 | \u00a0 | \u00a0 | 0.7 | \u00a0 |
| Total SG&A | \u00a0 | \u00a0 | 1.5 | \u00a0 | \u00a0 | \u00a0 | 0.6 | \u00a0 | \u00a0 | \u00a0 | 18.2 | \u00a0 | \u00a0 | \u00a0 | 0.1 | \u00a0 | \u00a0 | \u00a0 | 20.4 | \u00a0 |
| Total | \u00a0 | $ | 7.4 | \u00a0 | \u00a0 | $ | 0.8 | \u00a0 | \u00a0 | $ | 19.1 | \u00a0 | \u00a0 | $ | 0.1 | \u00a0 | \u00a0 | $ | 27.4 | \u00a0 |
\u00a0
\nIncluded in the above results are $5.7\u00a0million of\u00a0charges that have resulted or will result in cash outflows and $21.7\u00a0million in non-cash charges.
\n\u00a0
\nLiabilities recorded for the Conagra Restructuring Plan and changes therein for the first half of fiscal\u00a02024 were as follows:
\n\u00a0
\n \n| \u00a0 | \u00a0 | Balance at May 28, 2023 | \u00a0 | \u00a0 | Costs Incurred and Charged to Expense | \u00a0 | \u00a0 | Costs Paid or Otherwise Settled | \u00a0 | \u00a0 | Balance at November 26, 2023 | \u00a0 | ||||
| Severance and related costs | \u00a0 | $ | 1.7 | \u00a0 | \u00a0 | $ | 4.8 | \u00a0 | \u00a0 | $ | (1.3 | ) | \u00a0 | $ | 5.2 | \u00a0 |
| Consulting/professional fees | \u00a0 | \u00a0 | 0.2 | \u00a0 | \u00a0 | \u00a0 | 0.2 | \u00a0 | \u00a0 | \u00a0 | (0.3 | ) | \u00a0 | \u00a0 | 0.1 | \u00a0 |
| Other costs | \u00a0 | \u00a0 | \u2014 | \u00a0 | \u00a0 | \u00a0 | 0.7 | \u00a0 | \u00a0 | \u00a0 | (0.7 | ) | \u00a0 | \u00a0 | \u2014 | \u00a0 |
| Total | \u00a0 | $ | 1.9 | \u00a0 | \u00a0 | $ | 5.7 | \u00a0 | \u00a0 | $ | (2.3 | ) | \u00a0 | $ | 5.3 | \u00a0 |
\u00a0
\n \n \n "}]},{"name":"rpt:f-378","factDimensions":{"xbrl:concept":"cag:RestructuringAndRelatedCostApprovedForIncurrence","xbrl:period":"2023-11-27T00:00:00","xbrl:entity":"cik:0000023217","xbrl:unit":"iso4217:USD","us-gaap:RestructuringPlanAxis":"cag:ConagraRestructuringPlanMember"},"factValues":[{"value":"228800000","decimals":-5}]},{"name":"rpt:f-379","factDimensions":{"xbrl:concept":"cag:RestructuringAndRelatedCostApprovedForIncurrenceCash","xbrl:period":"2023-11-27T00:00:00","xbrl:entity":"cik:0000023217","xbrl:unit":"iso4217:USD","us-gaap:RestructuringPlanAxis":"cag:ConagraRestructuringPlanMember"},"factValues":[{"value":"69500000","decimals":-5}]},{"name":"rpt:f-380","factDimensions":{"xbrl:concept":"cag:RestructuringAndRelatedCostApprovedForIncurrenceNoncash","xbrl:period":"2023-11-27T00:00:00","xbrl:entity":"cik:0000023217","xbrl:unit":"iso4217:USD","us-gaap:RestructuringPlanAxis":"cag:ConagraRestructuringPlanMember"},"factValues":[{"value":"159300000","decimals":-5}]},{"name":"rpt:f-381","factDimensions":{"xbrl:concept":"us-gaap:RestructuringAndRelatedCostIncurredCost","xbrl:period":"2023-08-28T00:00:00/2023-11-27T00:00:00","xbrl:entity":"cik:0000023217","xbrl:unit":"iso4217:USD","us-gaap:RestructuringPlanAxis":"cag:ConagraRestructuringPlanMember"},"factValues":[{"value":"3600000","decimals":-5}]},{"name":"rpt:f-382","factDimensions":{"xbrl:concept":"us-gaap:RestructuringAndRelatedCostIncurredCost","xbrl:period":"2023-05-29T00:00:00/2023-11-27T00:00:00","xbrl:entity":"cik:0000023217","xbrl:unit":"iso4217:USD","us-gaap:RestructuringPlanAxis":"cag:ConagraRestructuringPlanMember"},"factValues":[{"value":"27400000","decimals":-5}]},{"name":"rpt:f-383","factDimensions":{"xbrl:concept":"us-gaap:RestructuringAndRelatedCostIncurredCost","xbrl:period":"2022-08-29T00:00:00/2022-11-28T00:00:00","xbrl:entity":"cik:0000023217","xbrl:unit":"iso4217:USD","us-gaap:RestructuringPlanAxis":"cag:ConagraRestructuringPlanMember"},"factValues":[{"value":"1800000","decimals":-5}]},{"name":"rpt:f-384","factDimensions":{"xbrl:concept":"us-gaap:RestructuringAndRelatedCostIncurredCost","xbrl:period":"2022-05-30T00:00:00/2022-11-28T00:00:00","xbrl:entity":"cik:0000023217","xbrl:unit":"iso4217:USD","us-gaap:RestructuringPlanAxis":"cag:ConagraRestructuringPlanMember"},"factValues":[{"value":"5900000","decimals":-5}]},{"name":"rpt:f-385","factDimensions":{"xbrl:concept":"us-gaap:RestructuringAndRelatedCostIncurredCost","xbrl:period":"2018-05-28T00:00:00/2023-11-27T00:00:00","xbrl:entity":"cik:0000023217","xbrl:unit":"iso4217:USD","us-gaap:RestructuringPlanAxis":"cag:ConagraRestructuringPlanMember"},"factValues":[{"value":"180300000","decimals":-5}]},{"name":"rpt:f-386","factDimensions":{"xbrl:concept":"us-gaap:ScheduleOfRestructuringAndRelatedCostsTextBlock","xbrl:period":"2023-05-29T00:00:00/2023-11-27T00:00:00","xbrl:entity":"cik:0000023217"},"factValues":[{"value":" \n| \u00a0 | \u00a0 | Grocery & Snacks | \u00a0 | \u00a0 | Refrigerated & Frozen | \u00a0 | \u00a0 | International | \u00a0 | \u00a0 | Corporate | \u00a0 | \u00a0 | Total | \u00a0 | |||||
| Accelerated depreciation | \u00a0 | $ | 5.9 | \u00a0 | \u00a0 | $ | 0.2 | \u00a0 | \u00a0 | $ | \u2014 | \u00a0 | \u00a0 | $ | \u2014 | \u00a0 | \u00a0 | $ | 6.1 | \u00a0 |
| Other cost of goods sold | \u00a0 | \u00a0 | \u2014 | \u00a0 | \u00a0 | \u00a0 | \u2014 | \u00a0 | \u00a0 | \u00a0 | 0.9 | \u00a0 | \u00a0 | \u00a0 | \u2014 | \u00a0 | \u00a0 | \u00a0 | 0.9 | \u00a0 |
| Total cost of goods sold | \u00a0 | \u00a0 | 5.9 | \u00a0 | \u00a0 | \u00a0 | 0.2 | \u00a0 | \u00a0 | \u00a0 | 0.9 | \u00a0 | \u00a0 | \u00a0 | \u2014 | \u00a0 | \u00a0 | \u00a0 | 7.0 | \u00a0 |
| Severance and related costs | \u00a0 | \u00a0 | 0.7 | \u00a0 | \u00a0 | \u00a0 | \u2014 | \u00a0 | \u00a0 | \u00a0 | 4.1 | \u00a0 | \u00a0 | \u00a0 | \u2014 | \u00a0 | \u00a0 | \u00a0 | 4.8 | \u00a0 |
| Asset impairment | \u00a0 | \u00a0 | 0.6 | \u00a0 | \u00a0 | \u00a0 | \u2014 | \u00a0 | \u00a0 | \u00a0 | 14.1 | \u00a0 | \u00a0 | \u00a0 | \u2014 | \u00a0 | \u00a0 | \u00a0 | 14.7 | \u00a0 |
| Consulting/professional fees | \u00a0 | \u00a0 | 0.2 | \u00a0 | \u00a0 | \u00a0 | \u2014 | \u00a0 | \u00a0 | \u00a0 | \u2014 | \u00a0 | \u00a0 | \u00a0 | \u2014 | \u00a0 | \u00a0 | \u00a0 | 0.2 | \u00a0 |
| Other SG&A | \u00a0 | \u00a0 | \u2014 | \u00a0 | \u00a0 | \u00a0 | 0.6 | \u00a0 | \u00a0 | \u00a0 | \u2014 | \u00a0 | \u00a0 | \u00a0 | 0.1 | \u00a0 | \u00a0 | \u00a0 | 0.7 | \u00a0 |
| Total SG&A | \u00a0 | \u00a0 | 1.5 | \u00a0 | \u00a0 | \u00a0 | 0.6 | \u00a0 | \u00a0 | \u00a0 | 18.2 | \u00a0 | \u00a0 | \u00a0 | 0.1 | \u00a0 | \u00a0 | \u00a0 | 20.4 | \u00a0 |
| Total | \u00a0 | $ | 7.4 | \u00a0 | \u00a0 | $ | 0.8 | \u00a0 | \u00a0 | $ | 19.1 | \u00a0 | \u00a0 | $ | 0.1 | \u00a0 | \u00a0 | $ | 27.4 | \u00a0 |
| \u00a0 | \u00a0 | Balance at May 28, 2023 | \u00a0 | \u00a0 | Costs Incurred and Charged to Expense | \u00a0 | \u00a0 | Costs Paid or Otherwise Settled | \u00a0 | \u00a0 | Balance at November 26, 2023 | \u00a0 | ||||
| Severance and related costs | \u00a0 | $ | 1.7 | \u00a0 | \u00a0 | $ | 4.8 | \u00a0 | \u00a0 | $ | (1.3 | ) | \u00a0 | $ | 5.2 | \u00a0 |
| Consulting/professional fees | \u00a0 | \u00a0 | 0.2 | \u00a0 | \u00a0 | \u00a0 | 0.2 | \u00a0 | \u00a0 | \u00a0 | (0.3 | ) | \u00a0 | \u00a0 | 0.1 | \u00a0 |
| Other costs | \u00a0 | \u00a0 | \u2014 | \u00a0 | \u00a0 | \u00a0 | 0.7 | \u00a0 | \u00a0 | \u00a0 | (0.7 | ) | \u00a0 | \u00a0 | \u2014 | \u00a0 |
| Total | \u00a0 | $ | 1.9 | \u00a0 | \u00a0 | $ | 5.7 | \u00a0 | \u00a0 | $ | (2.3 | ) | \u00a0 | $ | 5.3 | \u00a0 |
4. DEBT AND REVOLVING CREDIT FACILITY
\n\u00a0
\nSenior Notes
\n\u00a0
\nDuring the first quarter of fiscal 2024, we repaid the entire\u00a0outstanding $500.0 million aggregate principal amount of our 0.50% senior notes on their maturity date of August 11, 2023. The repayment was primarily funded using the net proceeds from\u00a0the issuance of $500.0 million aggregate principal amount of 5.30% senior notes due October 1, 2026.
\n\u00a0
\nDuring the third quarter of fiscal 2023, we repaid the remaining outstanding $437.0 million aggregate principal amount of our 3.20% senior notes on their maturity date of January 25, 2023.
\n\u00a0
\nDuring the second quarter of fiscal 2023, we repaid the entire outstanding $250.0 million aggregate principal amount of our 3.25% senior notes on their maturity date of September 15, 2022.
\n\u00a0
\nTerm Loan
\n\u00a0
\nDuring the second quarter of fiscal 2023, we borrowed the full $500.0 million aggregate principal amount available under our unsecured term loan (the \"Term Loan\") from a syndicate of financial institutions. During the second quarter of fiscal 2024, we prepaid\u00a0$250.0 million of the aggregate principal amount outstanding under the Term Loan. The remaining balance matures on August 26, 2025.
\n\u00a0
\nRevolving Credit Facility
\n\u00a0
\nAt\u00a0 November 26, 2023, we had a\u00a0revolving credit facility\u00a0(the \"Revolving Credit Facility\") with a syndicate of financial institutions providing for a maximum aggregate principal amount outstanding at any one time of $2.0 billion (subject to increase to a maximum aggregate principal amount of $2.5 billion with consent of the lenders). The Revolving Credit Facility matures on August 26, 2027 and is unsecured. The Company may request the term of the Revolving Credit Facility\u00a0be extended for additional one-year or two-year periods from the then-applicable maturity date on an annual basis. As of November 26, 2023, there were no outstanding borrowings under the Revolving Credit Facility.
\n\u00a0
\nDebt Covenants
\n\u00a0
\nThe Revolving Credit Facility\u00a0generally requires our ratio of earnings before interest, taxes, depreciation and amortization (\"EBITDA\") to interest expense to be not less than 3.0 to 1.0 and our ratio of funded net debt to EBITDA not to exceed 4.5 to 1.0, with each ratio to be calculated on a rolling four-quarter basis. As of November 26, 2023, we were in compliance with all financial covenants under the Revolving Credit Facility.
\n\u00a0
\nCommercial Paper
\n\u00a0
\nAs of\u00a0 November 26, 2023\u00a0and May 28, 2023, we had $503.0\u00a0million and $576.0\u00a0million, respectively, outstanding under our commercial paper program.
\n\u00a0
\nInterest Expense
\n\u00a0
\nNet interest expense consisted\u00a0of:
\n\u00a0
\n \n| \u00a0 | \u00a0 | Thirteen Weeks Ended | \u00a0 | \u00a0 | Twenty-Six Weeks Ended | \u00a0 | ||||||||||
| \u00a0 | \u00a0 | November 26, 2023 | \u00a0 | \u00a0 | November 27, 2022 | \u00a0 | \u00a0 | November 26, 2023 | \u00a0 | \u00a0 | November 27, 2022 | \u00a0 | ||||
| Long-term debt | \u00a0 | $ | 108.3 | \u00a0 | \u00a0 | $ | 100.4 | \u00a0 | \u00a0 | $ | 210.8 | \u00a0 | \u00a0 | $ | 198.1 | \u00a0 |
| Short-term debt | \u00a0 | \u00a0 | 8.1 | \u00a0 | \u00a0 | \u00a0 | 2.1 | \u00a0 | \u00a0 | \u00a0 | 15.5 | \u00a0 | \u00a0 | \u00a0 | 4.0 | \u00a0 |
| Interest income | \u00a0 | \u00a0 | (0.8 | ) | \u00a0 | \u00a0 | (0.6 | ) | \u00a0 | \u00a0 | (1.9 | ) | \u00a0 | \u00a0 | (1.5 | ) |
| Interest capitalized | \u00a0 | \u00a0 | (2.3 | ) | \u00a0 | \u00a0 | (1.6 | ) | \u00a0 | \u00a0 | (5.1 | ) | \u00a0 | \u00a0 | (3.2 | ) |
| \u00a0 | \u00a0 | $ | 113.3 | \u00a0 | \u00a0 | $ | 100.3 | \u00a0 | \u00a0 | $ | 219.3 | \u00a0 | \u00a0 | $ | 197.4 | \u00a0 |
\u00a0
\n \n \n 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\n| \u00a0 | \u00a0 | Thirteen Weeks Ended | \u00a0 | \u00a0 | Twenty-Six Weeks Ended | \u00a0 | ||||||||||
| \u00a0 | \u00a0 | November 26, 2023 | \u00a0 | \u00a0 | November 27, 2022 | \u00a0 | \u00a0 | November 26, 2023 | \u00a0 | \u00a0 | November 27, 2022 | \u00a0 | ||||
| Long-term debt | \u00a0 | $ | 108.3 | \u00a0 | \u00a0 | $ | 100.4 | \u00a0 | \u00a0 | $ | 210.8 | \u00a0 | \u00a0 | $ | 198.1 | \u00a0 |
| Short-term debt | \u00a0 | \u00a0 | 8.1 | \u00a0 | \u00a0 | \u00a0 | 2.1 | \u00a0 | \u00a0 | \u00a0 | 15.5 | \u00a0 | \u00a0 | \u00a0 | 4.0 | \u00a0 |
| Interest income | \u00a0 | \u00a0 | (0.8 | ) | \u00a0 | \u00a0 | (0.6 | ) | \u00a0 | \u00a0 | (1.9 | ) | \u00a0 | \u00a0 | (1.5 | ) |
| Interest capitalized | \u00a0 | \u00a0 | (2.3 | ) | \u00a0 | \u00a0 | (1.6 | ) | \u00a0 | \u00a0 | (5.1 | ) | \u00a0 | \u00a0 | (3.2 | ) |
| \u00a0 | \u00a0 | $ | 113.3 | \u00a0 | \u00a0 | $ | 100.3 | \u00a0 | \u00a0 | $ | 219.3 | \u00a0 | \u00a0 | $ | 197.4 | \u00a0 |
5. FINANCING ARRANGEMENTS
\n\u00a0
\nSupplier Financing Arrangements
\n\u00a0
\nIn order to manage our cash flow and related liquidity, we work with our suppliers to optimize our terms and conditions, which include the extension of payment terms. A number of factors may impact our future payment terms, including our relative creditworthiness, overall market liquidity, and changes in interest rates and other general economic conditions. Our current payment terms with our suppliers, which we deem to be commercially reasonable, range up to 120 days. Certain suppliers have access to third-party services that allow them to view our scheduled payments online and finance advances on our scheduled payments at the sole discretion of the supplier and the third-party. We have no direct financial relationship with the financial institutions, and we have pledged no assets in connection with our accounts\u00a0payable programs. All amounts due to participating suppliers are paid to the third party on the original invoice due dates, regardless of whether a particular invoice was sold. Supplier participation in these agreements is voluntary.\u00a0As of November 26, 2023\u00a0and May 28, 2023, $326.3\u00a0million and $355.1\u00a0million, respectively, of our total accounts and other payables were payable to suppliers who utilized these\u00a0third-party services.\u00a0The associated payments are included in net cash flows from operating activities within our Condensed Consolidated Statements of Cash Flows.\u00a0
\n\u00a0
\nWe have also concluded that certain obligations to our suppliers, including amounts due and scheduled payment terms, are impacted by\u00a0these third-party service programs and these arrangements are classified as notes payable within our Condensed Consolidated Balance Sheets. The proceeds and payments associated with short-term borrowings are reflected as financing activities within our Condensed Consolidated Statements of Cash Flows.\u00a0As of\u00a0 November 26, 2023 and May 28, 2023, we\u00a0had approximately $57.1\u00a0million and $62.5 million, respectively, of short-term borrowings related to these arrangements.\u00a0\u00a0\u00a0
\n\u00a0
\nNon-cash Lease Arrangements
\n\u00a0
\nIn the first quarter of fiscal 2024, we took control of a third-party distribution facility that was assessed to be a finance lease. At lease commencement, the term of the lease was 20 years with a discount rate of 5.42%. As a result, we recorded a $165.3 million finance lease right-of-use asset reflected in property, plant and equipment along with a corresponding finance lease obligation reflected in long-term debt (including current installments) within our Condensed Consolidated Balance Sheets.
\n\u00a0
\n "}]},{"name":"rpt:f-491","factDimensions":{"xbrl:concept":"us-gaap:SupplierFinanceProgramPaymentTimingPeriod","xbrl:period":"2023-11-27T00:00:00","xbrl:entity":"cik:0000023217"},"factValues":[{"value":"P120D"}]},{"name":"rpt:f-492","factDimensions":{"xbrl:concept":"us-gaap:SupplierFinanceProgramObligation","xbrl:period":"2023-11-27T00:00:00","xbrl:entity":"cik:0000023217","xbrl:unit":"iso4217:USD"},"factValues":[{"value":"326300000","decimals":-5}]},{"name":"rpt:f-493","factDimensions":{"xbrl:concept":"us-gaap:SupplierFinanceProgramObligation","xbrl:period":"2023-05-29T00:00:00","xbrl:entity":"cik:0000023217","xbrl:unit":"iso4217:USD"},"factValues":[{"value":"355100000","decimals":-5}]},{"name":"rpt:f-494","factDimensions":{"xbrl:concept":"us-gaap:ShortTermBorrowings","xbrl:period":"2023-11-27T00:00:00","xbrl:entity":"cik:0000023217","xbrl:unit":"iso4217:USD","us-gaap:DebtInstrumentAxis":"cag:SupplierFinancingArrangmentMember"},"factValues":[{"value":"57100000","decimals":-5}]},{"name":"rpt:f-495","factDimensions":{"xbrl:concept":"us-gaap:ShortTermBorrowings","xbrl:period":"2023-05-29T00:00:00","xbrl:entity":"cik:0000023217","xbrl:unit":"iso4217:USD","us-gaap:DebtInstrumentAxis":"cag:SupplierFinancingArrangmentMember"},"factValues":[{"value":"62500000","decimals":-5}]},{"name":"rpt:f-496","factDimensions":{"xbrl:concept":"us-gaap:LesseeFinanceLeaseTermOfContract1","xbrl:period":"2023-11-27T00:00:00","xbrl:entity":"cik:0000023217"},"factValues":[{"value":"P20Y"}]},{"name":"rpt:f-497","factDimensions":{"xbrl:concept":"us-gaap:LesseeFinanceLeaseDiscountRate","xbrl:period":"2023-11-27T00:00:00","xbrl:entity":"cik:0000023217"},"factValues":[{"value":"0.0542","decimals":4}]},{"name":"rpt:f-498","factDimensions":{"xbrl:concept":"us-gaap:FinanceLeaseRightOfUseAsset","xbrl:period":"2023-11-27T00:00:00","xbrl:entity":"cik:0000023217","xbrl:unit":"iso4217:USD","us-gaap:BalanceSheetLocationAxis":"us-gaap:PropertyPlantAndEquipmentMember"},"factValues":[{"value":"165300000","decimals":-5}]},{"name":"rpt:f-499","factDimensions":{"xbrl:concept":"us-gaap:GoodwillAndIntangibleAssetsDisclosureTextBlock","xbrl:period":"2023-05-29T00:00:00/2023-11-27T00:00:00","xbrl:entity":"cik:0000023217"},"factValues":[{"value":" \n6. GOODWILL AND OTHER IDENTIFIABLE INTANGIBLE ASSETS
\n\u00a0
\nThe change in the carrying amount of goodwill for the\u00a0first half\u00a0of fiscal 2024, excluding amounts classified as held for sale (see Note 2), was as follows:
\n\u00a0
\n \n| \u00a0 | \u00a0 | Grocery & Snacks | \u00a0 | \u00a0 | Refrigerated & Frozen | \u00a0 | \u00a0 | International | \u00a0 | \u00a0 | Foodservice | \u00a0 | \u00a0 | Total | \u00a0 | |||||
| Balance as of May 28, 2023 | \u00a0 | $ | 4,692.4 | \u00a0 | \u00a0 | $ | 5,469.5 | \u00a0 | \u00a0 | $ | 214.7 | \u00a0 | \u00a0 | $ | 732.8 | \u00a0 | \u00a0 | $ | 11,109.4 | \u00a0 |
| Currency translation | \u00a0 | \u00a0 | \u2014 | \u00a0 | \u00a0 | \u00a0 | \u2014 | \u00a0 | \u00a0 | \u00a0 | (0.1 | ) | \u00a0 | \u00a0 | \u2014 | \u00a0 | \u00a0 | \u00a0 | (0.1 | ) |
| Balance as of November 26, 2023 | \u00a0 | $ | 4,692.4 | \u00a0 | \u00a0 | $ | 5,469.5 | \u00a0 | \u00a0 | $ | 214.6 | \u00a0 | \u00a0 | $ | 732.8 | \u00a0 | \u00a0 | $ | 11,109.3 | \u00a0 |
\u00a0
\nOther identifiable intangible assets, excluding amounts classified as held for sale, were as follows:
\n\u00a0
\n \n| \u00a0 | \u00a0 | November 26, 2023 | \u00a0 | \u00a0 | May 28, 2023 | \u00a0 | ||||||||||
| \u00a0 | \u00a0 | Gross Carrying Amount | \u00a0 | \u00a0 | Accumulated Amortization | \u00a0 | \u00a0 | Gross Carrying Amount | \u00a0 | \u00a0 | Accumulated Amortization | \u00a0 | ||||
| Non-amortizing intangible assets | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Brands and trademarks | \u00a0 | $ | 2,457.0 | \u00a0 | \u00a0 | $ | \u2014 | \u00a0 | \u00a0 | $ | 2,457.0 | \u00a0 | \u00a0 | $ | \u2014 | \u00a0 |
| Amortizing intangible assets | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Customer relationships and intellectual property | \u00a0 | \u00a0 | 1,232.0 | \u00a0 | \u00a0 | \u00a0 | 523.6 | \u00a0 | \u00a0 | \u00a0 | 1,232.0 | \u00a0 | \u00a0 | \u00a0 | 496.7 | \u00a0 |
| \u00a0 | \u00a0 | $ | 3,689.0 | \u00a0 | \u00a0 | $ | 523.6 | \u00a0 | \u00a0 | $ | 3,689.0 | \u00a0 | \u00a0 | $ | 496.7 | \u00a0 |
\u00a0
\n \n \nDuring the first quarter of fiscal 2023, management reorganized\u00a0its reporting structure for\u00a0certain brands within two reporting units in our Refrigerated & Frozen segment.\u00a0The change in management reporting required us to reassign assets and liabilities, including goodwill, between the reporting units, complete a goodwill impairment test both prior to and subsequent to the change, and evaluate other assets in the reporting units for impairment, including indefinite-lived intangibles (brand names and trademarks). The fair value of our indefinite-lived intangibles was determined using the \"relief from royalty\" methodology.\u00a0As a result of our impairment tests, we recognized goodwill impairment charges within SG&A expenses of $141.7\u00a0million within our Sides, Components, Enhancers reporting unit in the first quarter of fiscal 2023.\u00a0In addition, we recognized an impairment charge\u00a0within SG&A expenses of $244.0\u00a0million related to our Birds Eye\u00ae brand name in the first quarter of fiscal 2023.
\n\u00a0
\n\u00a0Amortizing intangible assets carry a remaining weighted average life of approximately 18\u00a0years. Amortization expense was $13.3\u00a0million and $26.8\u00a0million for the\u00a0second quarter\u00a0and\u00a0first half of fiscal 2024, respectively, and $14.7 million and $29.5 million for the\u00a0second quarter\u00a0and\u00a0first half\u00a0of fiscal\u00a02023, respectively.\u00a0Based on amortizing assets recognized in our Condensed Consolidated Balance Sheet as of November 26, 2023, amortization expense is estimated to average $45.5\u00a0million for each of the next five years.
\n\u00a0
\n "}]},{"name":"rpt:f-500","factDimensions":{"xbrl:concept":"us-gaap:ScheduleOfGoodwillTextBlock","xbrl:period":"2023-05-29T00:00:00/2023-11-27T00:00:00","xbrl:entity":"cik:0000023217"},"factValues":[{"value":" \n| \u00a0 | \u00a0 | Grocery & Snacks | \u00a0 | \u00a0 | Refrigerated & Frozen | \u00a0 | \u00a0 | International | \u00a0 | \u00a0 | Foodservice | \u00a0 | \u00a0 | Total | \u00a0 | |||||
| Balance as of May 28, 2023 | \u00a0 | $ | 4,692.4 | \u00a0 | \u00a0 | $ | 5,469.5 | \u00a0 | \u00a0 | $ | 214.7 | \u00a0 | \u00a0 | $ | 732.8 | \u00a0 | \u00a0 | $ | 11,109.4 | \u00a0 |
| Currency translation | \u00a0 | \u00a0 | \u2014 | \u00a0 | \u00a0 | \u00a0 | \u2014 | \u00a0 | \u00a0 | \u00a0 | (0.1 | ) | \u00a0 | \u00a0 | \u2014 | \u00a0 | \u00a0 | \u00a0 | (0.1 | ) |
| Balance as of November 26, 2023 | \u00a0 | $ | 4,692.4 | \u00a0 | \u00a0 | $ | 5,469.5 | \u00a0 | \u00a0 | $ | 214.6 | \u00a0 | \u00a0 | $ | 732.8 | \u00a0 | \u00a0 | $ | 11,109.3 | \u00a0 |
| \u00a0 | \u00a0 | November 26, 2023 | \u00a0 | \u00a0 | May 28, 2023 | \u00a0 | ||||||||||
| \u00a0 | \u00a0 | Gross Carrying Amount | \u00a0 | \u00a0 | Accumulated Amortization | \u00a0 | \u00a0 | Gross Carrying Amount | \u00a0 | \u00a0 | Accumulated Amortization | \u00a0 | ||||
| Non-amortizing intangible assets | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Brands and trademarks | \u00a0 | $ | 2,457.0 | \u00a0 | \u00a0 | $ | \u2014 | \u00a0 | \u00a0 | $ | 2,457.0 | \u00a0 | \u00a0 | $ | \u2014 | \u00a0 |
| Amortizing intangible assets | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Customer relationships and intellectual property | \u00a0 | \u00a0 | 1,232.0 | \u00a0 | \u00a0 | \u00a0 | 523.6 | \u00a0 | \u00a0 | \u00a0 | 1,232.0 | \u00a0 | \u00a0 | \u00a0 | 496.7 | \u00a0 |
| \u00a0 | \u00a0 | $ | 3,689.0 | \u00a0 | \u00a0 | $ | 523.6 | \u00a0 | \u00a0 | $ | 3,689.0 | \u00a0 | \u00a0 | $ | 496.7 | \u00a0 |
7. DERIVATIVE FINANCIAL INSTRUMENTS
\n\u00a0
\nSee our Consolidated Financial Statements and related notes included in our Annual Report on Form 10-K for the fiscal year ended May 28, 2023, for additional information on our derivative activities.
\n\u00a0
\nDerivatives Designated as Cash Flow Hedges
\n\u00a0
\nDuring the first quarter of fiscal 2019, we entered into deal-contingent forward starting interest rate swap contracts to hedge a portion of the interest rate risk related to our issuance of long-term debt to help finance the acquisition of Pinnacle Foods\u00a0Inc. We settled these contracts during the second quarter of fiscal 2019 and deferred a $47.5 million gain in accumulated other comprehensive income that is being amortized as a reduction of interest expense over the lives of the related debt instruments. The unamortized amount at November 26, 2023, was $29.7 million.
\n\u00a0
\nEconomic Hedges of Forecasted Cash Flows
\n\u00a0
\nMany 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.
\n\u00a0
\nThe 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:
\n\u00a0
\n \n| \u00a0 | \u00a0 | Thirteen Weeks Ended | \u00a0 | \u00a0 | Twenty-Six Weeks Ended | \u00a0 | ||||||||||
| \u00a0 | \u00a0 | November 26, 2023 | \u00a0 | \u00a0 | November 27, 2022 | \u00a0 | \u00a0 | November 26, 2023 | \u00a0 | \u00a0 | November 27, 2022 | \u00a0 | ||||
| Gross derivative gains (losses) incurred | \u00a0 | $ | (10.0 | ) | \u00a0 | $ | 5.2 | \u00a0 | \u00a0 | $ | 9.5 | \u00a0 | \u00a0 | $ | 14.7 | \u00a0 |
| Less: Net derivative gains (losses) allocated to reporting segments | \u00a0 | \u00a0 | 1.2 | \u00a0 | \u00a0 | \u00a0 | 7.6 | \u00a0 | \u00a0 | \u00a0 | (6.9 | ) | \u00a0 | \u00a0 | 16.6 | \u00a0 |
| Net derivative gains (losses) recognized in general corporate expenses | \u00a0 | $ | (11.2 | ) | \u00a0 | $ | (2.4 | ) | \u00a0 | $ | 16.4 | \u00a0 | \u00a0 | $ | (1.9 | ) |
| Net derivative gains (losses) allocated to Grocery & Snacks | \u00a0 | $ | 0.7 | \u00a0 | \u00a0 | $ | 2.5 | \u00a0 | \u00a0 | $ | (3.2 | ) | \u00a0 | $ | 7.5 | \u00a0 |
| Net derivative gains (losses) allocated to Refrigerated & Frozen | \u00a0 | \u00a0 | 2.1 | \u00a0 | \u00a0 | \u00a0 | 4.3 | \u00a0 | \u00a0 | \u00a0 | (0.2 | ) | \u00a0 | \u00a0 | 7.6 | \u00a0 |
| Net derivative gains (losses) allocated to International | \u00a0 | \u00a0 | (2.0 | ) | \u00a0 | \u00a0 | 0.6 | \u00a0 | \u00a0 | \u00a0 | (3.6 | ) | \u00a0 | \u00a0 | 0.7 | \u00a0 |
| Net derivative gains allocated to Foodservice | \u00a0 | \u00a0 | 0.4 | \u00a0 | \u00a0 | \u00a0 | 0.2 | \u00a0 | \u00a0 | \u00a0 | 0.1 | \u00a0 | \u00a0 | \u00a0 | 0.8 | \u00a0 |
| Net derivative gains (losses) included in segment operating profit | \u00a0 | $ | 1.2 | \u00a0 | \u00a0 | $ | 7.6 | \u00a0 | \u00a0 | $ | (6.9 | ) | \u00a0 | $ | 16.6 | \u00a0 |
\u00a0
\n \n \nThe fair values of our derivative positions were not material as of\u00a0 November 26, 2023\u00a0and were Level 1 or Level 2 assets or liabilities in the fair value hierarchy (see Note 15 for further information). We have not significantly changed our valuation techniques from prior periods.
\n\u00a0
\nThe location and amount of gains from derivatives not designated as hedging instruments in our Condensed Consolidated Statements of Earnings were as follows:
\n\u00a0
\n \n| \u00a0 | Location in Condensed Consolidated | \u00a0 | Gains (Losses) Recognized on Derivatives in Condensed Consolidated Statements of Earnings for the Thirteen Weeks Ended | \u00a0 | |||||
| Derivatives Not Designated as Hedging Instruments | Statements of Earnings of Gains (Losses) Recognized on Derivatives | \u00a0 | November 26, 2023 | \u00a0 | \u00a0 | November 27, 2022 | \u00a0 | ||
| Commodity contracts | Cost of goods sold | \u00a0 | $ | (10.9 | ) | \u00a0 | $ | 3.7 | \u00a0 |
| Foreign exchange contracts | Cost of goods sold | \u00a0 | \u00a0 | 0.9 | \u00a0 | \u00a0 | \u00a0 | 1.6 | \u00a0 |
| Total gains from derivative instruments not designated as hedging instruments | \u00a0 | $ | (10.0 | ) | \u00a0 | $ | 5.3 | \u00a0 |
\u00a0
\n \n| \u00a0 | Location in Condensed Consolidated | \u00a0 | Gains (Losses) Recognized on Derivatives in Condensed Consolidated Statements of Earnings for the Twenty-Six Weeks Ended | \u00a0 | |||||
| Derivatives Not Designated as Hedging Instruments | Statements of Earnings of Gains (Losses) Recognized on Derivatives | \u00a0 | November 26, 2023 | \u00a0 | \u00a0 | November 27, 2022 | \u00a0 | ||
| Commodity contracts | Cost of goods sold | \u00a0 | $ | 11.6 | \u00a0 | \u00a0 | $ | 10.0 | \u00a0 |
| Foreign exchange contracts | Cost of goods sold | \u00a0 | \u00a0 | (2.1 | ) | \u00a0 | \u00a0 | 4.8 | \u00a0 |
| Total gains from derivative instruments not designated as hedging instruments | \u00a0 | $ | 9.5 | \u00a0 | \u00a0 | $ | 14.8 | \u00a0 |
\u00a0
\nAs of November 26, 2023, our open commodity contracts had a notional value (defined as notional quantity times market value per notional quantity unit) of $83.6 million for purchase contracts. As of May 28, 2023, our open commodity contracts had a notional value of $134.6 million\u00a0for purchase\u00a0contracts. The notional amount of our foreign currency forward contracts as of November 26, 2023 and May 28, 2023 was $86.9 million and $87.3 million, respectively.
\n "}]},{"name":"rpt:f-536","factDimensions":{"xbrl:concept":"us-gaap:OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAndTax","xbrl:period":"2018-08-27T00:00:00/2018-11-26T00:00:00","xbrl:entity":"cik:0000023217","xbrl:unit":"iso4217:USD","us-gaap:DerivativeInstrumentRiskAxis":"cag:CashFlowHedgePinnacleMember"},"factValues":[{"value":"47500000","decimals":-5}]},{"name":"rpt:f-537","factDimensions":{"xbrl:concept":"us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest","xbrl:period":"2023-11-27T00:00:00","xbrl:entity":"cik:0000023217","xbrl:unit":"iso4217:USD","us-gaap:DerivativeInstrumentRiskAxis":"cag:CashFlowHedgePinnacleMember","us-gaap:StatementEquityComponentsAxis":"us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember"},"factValues":[{"value":"29700000","decimals":-5}]},{"name":"rpt:f-538","factDimensions":{"xbrl:concept":"us-gaap:ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock","xbrl:period":"2023-05-29T00:00:00/2023-11-27T00:00:00","xbrl:entity":"cik:0000023217"},"factValues":[{"value":" \n| \u00a0 | \u00a0 | Thirteen Weeks Ended | \u00a0 | \u00a0 | Twenty-Six Weeks Ended | \u00a0 | ||||||||||
| \u00a0 | \u00a0 | November 26, 2023 | \u00a0 | \u00a0 | November 27, 2022 | \u00a0 | \u00a0 | November 26, 2023 | \u00a0 | \u00a0 | November 27, 2022 | \u00a0 | ||||
| Gross derivative gains (losses) incurred | \u00a0 | $ | (10.0 | ) | \u00a0 | $ | 5.2 | \u00a0 | \u00a0 | $ | 9.5 | \u00a0 | \u00a0 | $ | 14.7 | \u00a0 |
| Less: Net derivative gains (losses) allocated to reporting segments | \u00a0 | \u00a0 | 1.2 | \u00a0 | \u00a0 | \u00a0 | 7.6 | \u00a0 | \u00a0 | \u00a0 | (6.9 | ) | \u00a0 | \u00a0 | 16.6 | \u00a0 |
| Net derivative gains (losses) recognized in general corporate expenses | \u00a0 | $ | (11.2 | ) | \u00a0 | $ | (2.4 | ) | \u00a0 | $ | 16.4 | \u00a0 | \u00a0 | $ | (1.9 | ) |
| Net derivative gains (losses) allocated to Grocery & Snacks | \u00a0 | $ | 0.7 | \u00a0 | \u00a0 | $ | 2.5 | \u00a0 | \u00a0 | $ | (3.2 | ) | \u00a0 | $ | 7.5 | \u00a0 |
| Net derivative gains (losses) allocated to Refrigerated & Frozen | \u00a0 | \u00a0 | 2.1 | \u00a0 | \u00a0 | \u00a0 | 4.3 | \u00a0 | \u00a0 | \u00a0 | (0.2 | ) | \u00a0 | \u00a0 | 7.6 | \u00a0 |
| Net derivative gains (losses) allocated to International | \u00a0 | \u00a0 | (2.0 | ) | \u00a0 | \u00a0 | 0.6 | \u00a0 | \u00a0 | \u00a0 | (3.6 | ) | \u00a0 | \u00a0 | 0.7 | \u00a0 |
| Net derivative gains allocated to Foodservice | \u00a0 | \u00a0 | 0.4 | \u00a0 | \u00a0 | \u00a0 | 0.2 | \u00a0 | \u00a0 | \u00a0 | 0.1 | \u00a0 | \u00a0 | \u00a0 | 0.8 | \u00a0 |
| Net derivative gains (losses) included in segment operating profit | \u00a0 | $ | 1.2 | \u00a0 | \u00a0 | $ | 7.6 | \u00a0 | \u00a0 | $ | (6.9 | ) | \u00a0 | $ | 16.6 | \u00a0 |
| \u00a0 | Location in Condensed Consolidated | \u00a0 | Gains (Losses) Recognized on Derivatives in Condensed Consolidated Statements of Earnings for the Thirteen Weeks Ended | \u00a0 | |||||
| Derivatives Not Designated as Hedging Instruments | Statements of Earnings of Gains (Losses) Recognized on Derivatives | \u00a0 | November 26, 2023 | \u00a0 | \u00a0 | November 27, 2022 | \u00a0 | ||
| Commodity contracts | Cost of goods sold | \u00a0 | $ | (10.9 | ) | \u00a0 | $ | 3.7 | \u00a0 |
| Foreign exchange contracts | Cost of goods sold | \u00a0 | \u00a0 | 0.9 | \u00a0 | \u00a0 | \u00a0 | 1.6 | \u00a0 |
| Total gains from derivative instruments not designated as hedging instruments | \u00a0 | $ | (10.0 | ) | \u00a0 | $ | 5.3 | \u00a0 |
| \u00a0 | Location in Condensed Consolidated | \u00a0 | Gains (Losses) Recognized on Derivatives in Condensed Consolidated Statements of Earnings for the Twenty-Six Weeks Ended | \u00a0 | |||||
| Derivatives Not Designated as Hedging Instruments | Statements of Earnings of Gains (Losses) Recognized on Derivatives | \u00a0 | November 26, 2023 | \u00a0 | \u00a0 | November 27, 2022 | \u00a0 | ||
| Commodity contracts | Cost of goods sold | \u00a0 | $ | 11.6 | \u00a0 | \u00a0 | $ | 10.0 | \u00a0 |
| Foreign exchange contracts | Cost of goods sold | \u00a0 | \u00a0 | (2.1 | ) | \u00a0 | \u00a0 | 4.8 | \u00a0 |
| Total gains from derivative instruments not designated as hedging instruments | \u00a0 | $ | 9.5 | \u00a0 | \u00a0 | $ | 14.8 | \u00a0 |
8. SHARE-BASED PAYMENTS
\n\u00a0
\nFor the second quarter and first half of fiscal 2024, we recognized total stock-based compensation expense (including restricted stock units and\u00a0performance shares) of $6.2\u00a0million and $3.5 million, respectively. For the second quarter and first half of fiscal 2023, we recognized total stock-based compensation expense of $36.0\u00a0million and $59.0\u00a0million, respectively.\u00a0 In the first half of fiscal 2024,\u00a0we granted 1.9\u00a0million restricted stock units at a weighted average grant date price of $32.55 per share unit and 0.9\u00a0million performance shares at a weighted average grant date price of $32.57 per share.
\n\u00a0
\nPerformance shares are granted to selected executives and other key employees with vesting contingent upon meeting various Company-wide performance goals. The performance goal\u00a0for the -year performance period\u00a0ending in fiscal\u00a02024 (the \"2024 performance period\") is\u00a0based on our diluted earnings per share (\"EPS\") compound annual growth rate\u00a0(\"CAGR\"), subject to certain adjustments, measured over the defined performance period. The performance goals for the -year performance periods ending in fiscal 2025 (the \"2025 performance period\") and\u00a02026\u00a0(the \"2026\u00a0performance period\") are based on our net sales and diluted EPS growth, subject to certain adjustments, measured over the defined performance period, with each year of the performance period weighted one-third.\u00a0For each of the 2024\u00a0performance period, 2025\u00a0performance period, and 2026\u00a0performance period, the awards actually earned will range from to percent of the targeted number of performance shares for such performance period. Dividend equivalents are paid on the portion of performance shares actually earned at our regular dividend rate in additional shares of common stock.
\n\u00a0
\nAwards, if earned, will be paid in shares of our common stock. Subject to limited exceptions set forth in our performance share plan, any shares earned will be distributed after the end of the performance period, and generally 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. Forfeitures are accounted for as they occur.
\n\u00a0
\n \n \n "}]},{"name":"rpt:f-589","factDimensions":{"xbrl:concept":"us-gaap:AllocatedShareBasedCompensationExpense","xbrl:period":"2023-08-28T00:00:00/2023-11-27T00:00:00","xbrl:entity":"cik:0000023217","xbrl:unit":"iso4217:USD"},"factValues":[{"value":"6200000","decimals":-5}]},{"name":"rpt:f-590","factDimensions":{"xbrl:concept":"us-gaap:AllocatedShareBasedCompensationExpense","xbrl:period":"2023-05-29T00:00:00/2023-11-27T00:00:00","xbrl:entity":"cik:0000023217","xbrl:unit":"iso4217:USD"},"factValues":[{"value":"3500000","decimals":-5}]},{"name":"rpt:f-591","factDimensions":{"xbrl:concept":"us-gaap:AllocatedShareBasedCompensationExpense","xbrl:period":"2022-08-29T00:00:00/2022-11-28T00:00:00","xbrl:entity":"cik:0000023217","xbrl:unit":"iso4217:USD"},"factValues":[{"value":"36000000","decimals":-6}]},{"name":"rpt:f-592","factDimensions":{"xbrl:concept":"us-gaap:AllocatedShareBasedCompensationExpense","xbrl:period":"2022-05-30T00:00:00/2022-11-28T00:00:00","xbrl:entity":"cik:0000023217","xbrl:unit":"iso4217:USD"},"factValues":[{"value":"59000000","decimals":-6}]},{"name":"rpt:f-593","factDimensions":{"xbrl:concept":"us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod","xbrl:period":"2023-05-29T00:00:00/2023-11-27T00:00:00","xbrl:entity":"cik:0000023217","xbrl:unit":"xbrla:shares","us-gaap:AwardTypeAxis":"us-gaap:RestrictedStockUnitsRSUMember"},"factValues":[{"value":"1900000","decimals":-5}]},{"name":"rpt:f-594","factDimensions":{"xbrl:concept":"us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue","xbrl:period":"2023-05-29T00:00:00/2023-11-27T00:00:00","xbrl:entity":"cik:0000023217","xbrl:unit":"iso4217:USD/xbrla:shares","us-gaap:AwardTypeAxis":"us-gaap:RestrictedStockUnitsRSUMember"},"factValues":[{"value":"32.55"}]},{"name":"rpt:f-595","factDimensions":{"xbrl:concept":"us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod","xbrl:period":"2023-05-29T00:00:00/2023-11-27T00:00:00","xbrl:entity":"cik:0000023217","xbrl:unit":"xbrla:shares","us-gaap:AwardTypeAxis":"us-gaap:PerformanceSharesMember"},"factValues":[{"value":"900000","decimals":-5}]},{"name":"rpt:f-596","factDimensions":{"xbrl:concept":"us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue","xbrl:period":"2023-05-29T00:00:00/2023-11-27T00:00:00","xbrl:entity":"cik:0000023217","xbrl:unit":"iso4217:USD/xbrla:shares","us-gaap:AwardTypeAxis":"us-gaap:PerformanceSharesMember"},"factValues":[{"value":"32.57"}]},{"name":"rpt:f-597","factDimensions":{"xbrl:concept":"us-gaap:EarningsPerShareTextBlock","xbrl:period":"2023-05-29T00:00:00/2023-11-27T00:00:00","xbrl:entity":"cik:0000023217"},"factValues":[{"value":" \n9. EARNINGS PER SHARE
\n\u00a0
\nBasic earnings per share is calculated on the basis of weighted average outstanding shares of common stock. Diluted earnings\u00a0per share is computed on the basis of basic weighted average outstanding shares of common stock adjusted for the dilutive effect of stock options, restricted stock unit awards, and other dilutive securities.
\n\u00a0
\nThe following table reconciles the income and average share amounts used to compute both basic and diluted earnings per share:
\n\u00a0
\n \n| \u00a0 | \u00a0 | Thirteen Weeks Ended | \u00a0 | \u00a0 | Twenty-Six Weeks Ended | \u00a0 | ||||||||||
| \u00a0 | \u00a0 | November 26, 2023 | \u00a0 | \u00a0 | November 27, 2022 | \u00a0 | \u00a0 | November 26, 2023 | \u00a0 | \u00a0 | November 27, 2022 | \u00a0 | ||||
| Net income attributable to Conagra Brands, Inc. common stockholders: | \u00a0 | $ | 286.2 | \u00a0 | \u00a0 | $ | 381.9 | \u00a0 | \u00a0 | $ | 605.9 | \u00a0 | \u00a0 | $ | 304.4 | \u00a0 |
| Weighted average shares outstanding: | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Basic weighted average shares outstanding | \u00a0 | \u00a0 | 478.7 | \u00a0 | \u00a0 | \u00a0 | 479.4 | \u00a0 | \u00a0 | \u00a0 | 478.4 | \u00a0 | \u00a0 | \u00a0 | 480.0 | \u00a0 |
| Add: Dilutive effect of stock options, restricted stock unit awards, and other dilutive securities | \u00a0 | \u00a0 | 1.1 | \u00a0 | \u00a0 | \u00a0 | 1.5 | \u00a0 | \u00a0 | \u00a0 | 1.4 | \u00a0 | \u00a0 | \u00a0 | 1.6 | \u00a0 |
| Diluted weighted average shares outstanding | \u00a0 | \u00a0 | 479.8 | \u00a0 | \u00a0 | \u00a0 | 480.9 | \u00a0 | \u00a0 | \u00a0 | 479.8 | \u00a0 | \u00a0 | \u00a0 | 481.6 | \u00a0 |
\u00a0
\nFor the\u00a0second quarter\u00a0and\u00a0first half of fiscal 2024, there were 1.4 million and 1.0 million stock options outstanding, respectively, that were excluded from the computation of diluted weighted average shares because the effect was antidilutive.\u00a0For the second quarter\u00a0and first half of fiscal 2023, there were 0.8 million and 0.9 million stock options outstanding, respectively, that were excluded from the computation.
\n "}]},{"name":"rpt:f-598","factDimensions":{"xbrl:concept":"us-gaap:ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock","xbrl:period":"2023-05-29T00:00:00/2023-11-27T00:00:00","xbrl:entity":"cik:0000023217"},"factValues":[{"value":" \n| \u00a0 | \u00a0 | Thirteen Weeks Ended | \u00a0 | \u00a0 | Twenty-Six Weeks Ended | \u00a0 | ||||||||||
| \u00a0 | \u00a0 | November 26, 2023 | \u00a0 | \u00a0 | November 27, 2022 | \u00a0 | \u00a0 | November 26, 2023 | \u00a0 | \u00a0 | November 27, 2022 | \u00a0 | ||||
| Net income attributable to Conagra Brands, Inc. common stockholders: | \u00a0 | $ | 286.2 | \u00a0 | \u00a0 | $ | 381.9 | \u00a0 | \u00a0 | $ | 605.9 | \u00a0 | \u00a0 | $ | 304.4 | \u00a0 |
| Weighted average shares outstanding: | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Basic weighted average shares outstanding | \u00a0 | \u00a0 | 478.7 | \u00a0 | \u00a0 | \u00a0 | 479.4 | \u00a0 | \u00a0 | \u00a0 | 478.4 | \u00a0 | \u00a0 | \u00a0 | 480.0 | \u00a0 |
| Add: Dilutive effect of stock options, restricted stock unit awards, and other dilutive securities | \u00a0 | \u00a0 | 1.1 | \u00a0 | \u00a0 | \u00a0 | 1.5 | \u00a0 | \u00a0 | \u00a0 | 1.4 | \u00a0 | \u00a0 | \u00a0 | 1.6 | \u00a0 |
| Diluted weighted average shares outstanding | \u00a0 | \u00a0 | 479.8 | \u00a0 | \u00a0 | \u00a0 | 480.9 | \u00a0 | \u00a0 | \u00a0 | 479.8 | \u00a0 | \u00a0 | \u00a0 | 481.6 | \u00a0 |
10. INVENTORIES
\n\u00a0
\nThe major classes of inventories were as follows:
\n\u00a0
\n \n| \u00a0 | \u00a0 | November 26, 2023 | \u00a0 | \u00a0 | May 28, 2023 | \u00a0 | ||
| Raw materials and packaging | \u00a0 | $ | 341.5 | \u00a0 | \u00a0 | $ | 368.2 | \u00a0 |
| Work in process | \u00a0 | \u00a0 | 354.2 | \u00a0 | \u00a0 | \u00a0 | 224.5 | \u00a0 |
| Finished goods | \u00a0 | \u00a0 | 1,475.1 | \u00a0 | \u00a0 | \u00a0 | 1,517.7 | \u00a0 |
| Supplies and other | \u00a0 | \u00a0 | 106.8 | \u00a0 | \u00a0 | \u00a0 | 101.8 | \u00a0 |
| Total | \u00a0 | $ | 2,277.6 | \u00a0 | \u00a0 | $ | 2,212.2 | \u00a0 |
\u00a0
\n "}]},{"name":"rpt:f-620","factDimensions":{"xbrl:concept":"us-gaap:ScheduleOfInventoryCurrentTableTextBlock","xbrl:period":"2023-05-29T00:00:00/2023-11-27T00:00:00","xbrl:entity":"cik:0000023217"},"factValues":[{"value":" \n| \u00a0 | \u00a0 | November 26, 2023 | \u00a0 | \u00a0 | May 28, 2023 | \u00a0 | ||
| Raw materials and packaging | \u00a0 | $ | 341.5 | \u00a0 | \u00a0 | $ | 368.2 | \u00a0 |
| Work in process | \u00a0 | \u00a0 | 354.2 | \u00a0 | \u00a0 | \u00a0 | 224.5 | \u00a0 |
| Finished goods | \u00a0 | \u00a0 | 1,475.1 | \u00a0 | \u00a0 | \u00a0 | 1,517.7 | \u00a0 |
| Supplies and other | \u00a0 | \u00a0 | 106.8 | \u00a0 | \u00a0 | \u00a0 | 101.8 | \u00a0 |
| Total | \u00a0 | $ | 2,277.6 | \u00a0 | \u00a0 | $ | 2,212.2 | \u00a0 |
11. INCOME TAXES
\n\u00a0
\nIn the second quarter of fiscal 2024 and 2023, we recognized income tax expense of\u00a0$102.9 million and\u00a0$122.5 million, respectively. The effective tax rate (calculated as the ratio of income tax expense to pre-tax income, inclusive of equity method investment earnings) was\u00a026.5% and\u00a024.3% for the\u00a0second quarter of fiscal 2024 and 2023, respectively. In the\u00a0first half\u00a0of fiscal\u00a02024 and 2023, we recognized income tax expense of\u00a0$201.2\u00a0million and\u00a0$136.9\u00a0million, respectively. The effective tax rate was\u00a024.9%\u00a0and\u00a031.0%\u00a0for the first half\u00a0of fiscal\u00a02024 and 2023, respectively.\u00a0
\n\u00a0
\nThe effective tax rate in the second quarter and\u00a0first half of fiscal 2024 reflected the impact of an impairment of goodwill that is non-deductible for tax purposes, in addition to tax expense associated with no longer asserting permanent reinvestment of a foreign subsidiary when we reclassified certain\u00a0assets and liabilities to held for sale. During the first half of fiscal 2024, goodwill impairment charges totaling $20.7 million were recognized with no associated tax benefit.
\n\u00a0
\nThe effective tax rate in the\u00a0second quarter of fiscal\u00a02023 reflected tax expense from disallowed deductions related to incentive compensation plans resulting from increased level of achievement on performance targets and stock price, a tax benefit from statute lapses on state tax issues that were previously reserved, and a benefit from the adjustment of certain foreign taxes that were previously accrued.
\n\u00a0
\n \n \nThe effective tax rate in the first half of fiscal 2023 reflected the above-cited items, as well as the impact of an impairment of goodwill that was largely non-deductible for tax purposes.\u00a0During the first half of fiscal 2023, goodwill impairment charges totaling $141.7 million were recognized with an associated tax benefit of $2.7 million.
\n\u00a0
\nThe amount of gross unrecognized tax benefits for uncertain tax positions was $25.2 million as of November 26, 2023 and $23.7 million as of May 28, 2023. These amounts include the issue of certain elections made in connection with our fiscal 2021 federal tax return which remains under review with the U.S. Internal Revenue Service. The gross unrecognized tax benefits excluded related liabilities for gross interest and penalties of $6.2 million and $5.6 million as of\u00a0 November 26, 2023 and May 28, 2023, respectively.
\n\u00a0
\nThe net amount of unrecognized tax benefits at November 26, 2023 and May 28, 2023 that, if recognized, would favorably impact the Company's effective tax rate was $22.5 million and $21.3 million, respectively.
\n\u00a0
\nWe estimate that it is reasonably possible that the amount of gross unrecognized tax benefits will decrease by up to $13.8 million over the next twelve months due to various audit settlements and the expiration of statutes of limitations.
\n\u00a0
\nWe have previously made the assessment that the current earnings of certain foreign subsidiaries were not indefinitely reinvested or that we could not remit to the U.S. parent in a tax-neutral transaction. Accordingly, we had\u00a0recorded a deferred tax liability of $16.2 million on approximately $323.7 million of cumulative earnings at November 26, 2023. The deferred tax liability relates to local withholding taxes that will be owed when this cash is distributed. The undistributed historic earnings in our foreign subsidiaries through May 30, 2021\u00a0are considered to be indefinitely reinvested or can be remitted in a tax-neutral transaction. Accordingly, we have not recorded a deferred tax liability related to these undistributed historic earnings.
\n\u00a0
\nOn August 16, 2022, the Inflation Reduction Act of 2022 was signed into law. We have determined that we are not subject to the corporate alternative minimum tax at this time.
\n 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:"16200000","decimals":-5}]},{"name":"rpt:f-652","factDimensions":{"xbrl:concept":"us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign","xbrl:period":"2023-05-29T00:00:00/2023-11-27T00:00:00","xbrl:entity":"cik:0000023217","xbrl:unit":"iso4217:USD"},"factValues":[{"value":"323700000","decimals":-5}]},{"name":"rpt:f-653","factDimensions":{"xbrl:concept":"us-gaap:CommitmentsAndContingenciesDisclosureTextBlock","xbrl:period":"2023-05-29T00:00:00/2023-11-27T00:00:00","xbrl:entity":"cik:0000023217"},"factValues":[{"value":" \n12. CONTINGENCIES
\n\u00a0
\nLitigation Matters
\n\u00a0
\nWe are a party to certain litigation matters as a result of our acquisition of Beatrice Company (\"Beatrice\") in fiscal 1991, including litigation proceedings related to lead-based paint and pigment businesses divested by Beatrice prior to our acquisition. These lawsuits have generally sought\u00a0damages for personal injury, property damage, economic loss, and governmental expenditures allegedly caused by the use of lead-based paint. We have denied liability, both on the merits of the claims and on the basis that we do not believe we are the successor to any such liability. In one such action in California, we agreed to pay $101.7 million, in seven annual installments from fiscal 2020 through fiscal 2026 (of which $73.0\u00a0million had\u00a0been paid as of November 26, 2023), pursuant to a 2019 settlement, which settlement also included a default guarantee for up to $15.0 million in payments to be made by co-defendant, NL Industries, Inc. We had accrued $28.8 million ($11.6\u00a0million within other accrued liabilities and $17.2\u00a0million within other noncurrent liabilities) as of November 26, 2023 and $40.7 million ($11.8 million within other accrued liabilities and $28.9 million within other noncurrent liabilities) as of\u00a0 May 28, 2023\u00a0for this matter.
\n\u00a0
\nWe are a party to a number of matters asserting product liability claims against the Company related to certain Pam\u00ae and other cooking spray products. These lawsuits generally seek damages for personal injuries allegedly caused by defects in the design, manufacture, or safety warnings of the cooking spray products. On October 31, 2023, a jury entered a verdict against the Company for $3.1 million in compensatory damages and $4.0 million in punitive damages in one of these lawsuits, captioned Reese v. Conagra Brands, Inc., et al. (\u201cReese\u201d). The judgment in the Reese lawsuit is not final and we are challenging the verdict through post-trial motions. We may pursue additional options in Reese including appealing the judgment when final. We have put the Company's insurance carriers on notice of these matters regarding our cooking spray products. While we cannot predict with certainty the results of these or any other legal proceedings, the Company believes adequate provision has been made in its Condensed Consolidated Financial Statements for all probable and reasonably estimable losses for the litigation related to the cooking spray products based on information available to us at the time of our evaluation.
\n\u00a0
\n\u00a0
\nEnvironmental Matters
\n\u00a0
\nSecurities and Exchange Commission (the \"SEC\") regulations require us to disclose certain information about environmental proceedings if a governmental authority is a party to such proceedings and such proceedings involve potential monetary sanctions that we reasonably believe will exceed a stated threshold. Pursuant to the SEC regulations, the Company uses a threshold of $1.0 million for purposes of determining whether disclosure of any such proceedings is required.
\n\u00a0
\nWe are a party to certain environmental proceedings relating to businesses divested by Beatrice prior to our acquisition in fiscal 1991, including litigation and administrative proceedings involving Beatrice's possible status as a potentially responsible party at approximately 35\u00a0Superfund, proposed Superfund, or state-equivalent sites (the \"Beatrice sites\"). The Beatrice sites consist of locations previously owned or operated by predecessors of Beatrice that used or produced petroleum, pesticides, fertilizers, dyes, inks, solvents, polychlorinated biphenyls, acids, lead, sulfur, tannery wastes, and/or other contaminants. 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 $38.8\u00a0million ($1.5\u00a0million within other accrued liabilities and $37.3\u00a0million within other noncurrent liabilities) as of November 26, 2023\u00a0and $40.1 million ($1.5 million within other accrued liabilities and $38.6 million within other noncurrent liabilities) as of May 28, 2023, a majority of which relates to the Superfund and state-equivalent sites referenced above.
\n\u00a0
\nGuarantees and Other Contingencies
\n\u00a0
\nIn certain limited situations, we will guarantee an obligation of an unconsolidated entity. As of November 26, 2023, we continued to guarantee an obligation of the Lamb Weston business pursuant to a guarantee arrangement that existed prior to the spinoff of the Lamb Weston business (the \"Spinoff\"), remained in place following completion of the Spinoff, and will remain in place until such guarantee obligation is substituted for guarantees issued by Lamb Weston. Pursuant to the separation and distribution agreement, dated as of November 8, 2016 (the \"Separation Agreement\"), between us and Lamb Weston, this guarantee arrangement is deemed a liability of Lamb Weston that was transferred to Lamb Weston as part of the Spinoff. Accordingly, under the Separation Agreement, in the event that we are required to make any payments as a result of this guarantee arrangement, Lamb Weston is obligated to indemnify us for any such liability, reduced by any insurance proceeds received by us. Lamb Weston is a party to an agricultural sublease agreement with a third party for certain farmland through 2025 (subject, at Lamb Weston's option, to extension for one additional -year period). Under the terms of the sublease agreement, Lamb Weston is required to make certain rental payments to the sublessor. We have guaranteed to 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 guarantee, would be largely mitigated.
\n\u00a0
\nWe also guarantee a lease resulting from an exited facility. As of November 26, 2023, the remaining term of this arrangement did not exceed \u00a0years and the maximum amount of guaranteed future payments\u00a0was $7.4\u00a0million.
\n\u00a0
\nGeneral
\n\u00a0
\nAfter 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; however, it is reasonably possible that a change of the estimates of any of the foregoing matters may occur in the future that could have a material adverse effect on our financial condition, results of operations, or liquidity.
\n\u00a0
\nCosts of legal services associated with the foregoing matters are recognized within SG&A expenses\u00a0as services are provided.\u00a0
\n\u00a0
\n \n \n 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\n13. PENSION AND POSTRETIREMENT BENEFITS
\n\u00a0
\nWe have defined benefit retirement plans (\"pension 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 to qualifying U.S. employees.
\n\u00a0
\nComponents of pension and postretirement plan costs (benefits) are:
\n\u00a0
\n \n| \u00a0 | \u00a0 | Pension Plans | \u00a0 | |||||||||||||
| \u00a0 | \u00a0 | Thirteen Weeks Ended | \u00a0 | \u00a0 | Twenty-Six Weeks Ended | \u00a0 | ||||||||||
| \u00a0 | \u00a0 | November 26, 2023 | \u00a0 | \u00a0 | November 27, 2022 | \u00a0 | \u00a0 | November 26, 2023 | \u00a0 | \u00a0 | November 27, 2022 | \u00a0 | ||||
| Service cost | \u00a0 | $ | 1.4 | \u00a0 | \u00a0 | $ | 1.7 | \u00a0 | \u00a0 | $ | 2.9 | \u00a0 | \u00a0 | $ | 3.3 | \u00a0 |
| Interest cost | \u00a0 | \u00a0 | 36.7 | \u00a0 | \u00a0 | \u00a0 | 31.0 | \u00a0 | \u00a0 | \u00a0 | 73.4 | \u00a0 | \u00a0 | \u00a0 | 62.0 | \u00a0 |
| Expected return on plan assets | \u00a0 | \u00a0 | (35.8 | ) | \u00a0 | \u00a0 | (36.4 | ) | \u00a0 | \u00a0 | (71.6 | ) | \u00a0 | \u00a0 | (72.9 | ) |
| Amortization of prior service cost | \u00a0 | \u00a0 | 0.4 | \u00a0 | \u00a0 | \u00a0 | 0.3 | \u00a0 | \u00a0 | \u00a0 | 0.8 | \u00a0 | \u00a0 | \u00a0 | 0.7 | \u00a0 |
| Pension cost (benefit) \u2014 Company plans | \u00a0 | \u00a0 | 2.7 | \u00a0 | \u00a0 | \u00a0 | (3.4 | ) | \u00a0 | \u00a0 | 5.5 | \u00a0 | \u00a0 | \u00a0 | (6.9 | ) |
| Pension cost (benefit) \u2014 multi-employer plans | \u00a0 | \u00a0 | 2.7 | \u00a0 | \u00a0 | \u00a0 | 2.8 | \u00a0 | \u00a0 | \u00a0 | 4.8 | \u00a0 | \u00a0 | \u00a0 | 5.0 | \u00a0 |
| Total pension cost (benefit) | \u00a0 | $ | 5.4 | \u00a0 | \u00a0 | $ | (0.6 | ) | \u00a0 | $ | 10.3 | \u00a0 | \u00a0 | $ | (1.9 | ) |
\u00a0
\n \n| \u00a0 | \u00a0 | Postretirement Plans | \u00a0 | |||||||||||||
| \u00a0 | \u00a0 | Thirteen Weeks Ended | \u00a0 | \u00a0 | Twenty-Six Weeks Ended | \u00a0 | ||||||||||
| \u00a0 | \u00a0 | November 26, 2023 | \u00a0 | \u00a0 | November 27, 2022 | \u00a0 | \u00a0 | November 26, 2023 | \u00a0 | \u00a0 | November 27, 2022 | \u00a0 | ||||
| Service cost | \u00a0 | $ | 0.1 | \u00a0 | \u00a0 | $ | 0.1 | \u00a0 | \u00a0 | $ | 0.1 | \u00a0 | \u00a0 | $ | 0.1 | \u00a0 |
| Interest cost | \u00a0 | \u00a0 | 0.7 | \u00a0 | \u00a0 | \u00a0 | 0.6 | \u00a0 | \u00a0 | \u00a0 | 1.3 | \u00a0 | \u00a0 | \u00a0 | 1.1 | \u00a0 |
| Amortization of prior service cost (benefit) | \u00a0 | \u00a0 | (0.4 | ) | \u00a0 | \u00a0 | (0.5 | ) | \u00a0 | \u00a0 | (0.8 | ) | \u00a0 | \u00a0 | (0.9 | ) |
| Recognized net actuarial gain | \u00a0 | \u00a0 | (1.2 | ) | \u00a0 | \u00a0 | (1.1 | ) | \u00a0 | \u00a0 | (2.4 | ) | \u00a0 | \u00a0 | (2.2 | ) |
| Total postretirement cost (benefit) | \u00a0 | $ | (0.8 | ) | \u00a0 | $ | (0.9 | ) | \u00a0 | $ | (1.8 | ) | \u00a0 | $ | (1.9 | ) |
\u00a0
\nThe 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.
\n\u00a0
\nThe weighted-average discount rates for service and interest costs under the spot-rate approach used for pension cost in fiscal 2024\u00a0were 5.64% and 5.44%, respectively.
\n\u00a0
\nDuring the second quarter and first half of fiscal 2024, we contributed $2.9\u00a0million and $6.0\u00a0million, respectively, to our pension\u00a0plans and contributed $1.4 million and $3.0 million, respectively, to our postretirement plans. Based upon the current funded status of the plans and the current interest rate environment, we anticipate making further contributions of approximately $6.1\u00a0million to our pension plans during the remainder of fiscal 2024. We anticipate making further contributions of approximately $4.2\u00a0million to our postretirement plans during the remainder of fiscal 2024. These estimates are based on ERISA guidelines, current tax laws, plan asset performance, and liability assumptions, which are subject to change.
\n\u00a0
\n \n \nDuring the second quarter of fiscal 2024, the Company provided a voluntary lump-sum settlement offer to certain vested participants in the salaried and hourly pension plans in order to reduce a portion of the pension obligation. Subsequent to the end of the second quarter of fiscal 2024, approximately $135\u00a0million was distributed from the pension plan assets in connection with this offer. The lump-sum settlement did exceed our service and interest cost for our hourly pension plans, which will require a remeasurement\u00a0in the third quarter of fiscal 2024.\u00a0
\n "}]},{"name":"rpt:f-682","factDimensions":{"xbrl:concept":"us-gaap:ScheduleOfDefinedBenefitPlansDisclosuresTextBlock","xbrl:period":"2023-05-29T00:00:00/2023-11-27T00:00:00","xbrl:entity":"cik:0000023217"},"factValues":[{"value":" \n| \u00a0 | \u00a0 | Pension Plans | \u00a0 | |||||||||||||
| \u00a0 | \u00a0 | Thirteen Weeks Ended | \u00a0 | \u00a0 | Twenty-Six Weeks Ended | \u00a0 | ||||||||||
| \u00a0 | \u00a0 | November 26, 2023 | \u00a0 | \u00a0 | November 27, 2022 | \u00a0 | \u00a0 | November 26, 2023 | \u00a0 | \u00a0 | November 27, 2022 | \u00a0 | ||||
| Service cost | \u00a0 | $ | 1.4 | \u00a0 | \u00a0 | $ | 1.7 | \u00a0 | \u00a0 | $ | 2.9 | \u00a0 | \u00a0 | $ | 3.3 | \u00a0 |
| Interest cost | \u00a0 | \u00a0 | 36.7 | \u00a0 | \u00a0 | \u00a0 | 31.0 | \u00a0 | \u00a0 | \u00a0 | 73.4 | \u00a0 | \u00a0 | \u00a0 | 62.0 | \u00a0 |
| Expected return on plan assets | \u00a0 | \u00a0 | (35.8 | ) | \u00a0 | \u00a0 | (36.4 | ) | \u00a0 | \u00a0 | (71.6 | ) | \u00a0 | \u00a0 | (72.9 | ) |
| Amortization of prior service cost | \u00a0 | \u00a0 | 0.4 | \u00a0 | \u00a0 | \u00a0 | 0.3 | \u00a0 | \u00a0 | \u00a0 | 0.8 | \u00a0 | \u00a0 | \u00a0 | 0.7 | \u00a0 |
| Pension cost (benefit) \u2014 Company plans | \u00a0 | \u00a0 | 2.7 | \u00a0 | \u00a0 | \u00a0 | (3.4 | ) | \u00a0 | \u00a0 | 5.5 | \u00a0 | \u00a0 | \u00a0 | (6.9 | ) |
| Pension cost (benefit) \u2014 multi-employer plans | \u00a0 | \u00a0 | 2.7 | \u00a0 | \u00a0 | \u00a0 | 2.8 | \u00a0 | \u00a0 | \u00a0 | 4.8 | \u00a0 | \u00a0 | \u00a0 | 5.0 | \u00a0 |
| Total pension cost (benefit) | \u00a0 | $ | 5.4 | \u00a0 | \u00a0 | $ | (0.6 | ) | \u00a0 | $ | 10.3 | \u00a0 | \u00a0 | $ | (1.9 | ) |
| \u00a0 | \u00a0 | Postretirement Plans | \u00a0 | |||||||||||||
| \u00a0 | \u00a0 | Thirteen Weeks Ended | \u00a0 | \u00a0 | Twenty-Six Weeks Ended | \u00a0 | ||||||||||
| \u00a0 | \u00a0 | November 26, 2023 | \u00a0 | \u00a0 | November 27, 2022 | \u00a0 | \u00a0 | November 26, 2023 | \u00a0 | \u00a0 | November 27, 2022 | \u00a0 | ||||
| Service cost | \u00a0 | $ | 0.1 | \u00a0 | \u00a0 | $ | 0.1 | \u00a0 | \u00a0 | $ | 0.1 | \u00a0 | \u00a0 | $ | 0.1 | \u00a0 |
| Interest cost | \u00a0 | \u00a0 | 0.7 | \u00a0 | \u00a0 | \u00a0 | 0.6 | \u00a0 | \u00a0 | \u00a0 | 1.3 | \u00a0 | \u00a0 | \u00a0 | 1.1 | \u00a0 |
| Amortization of prior service cost (benefit) | \u00a0 | \u00a0 | (0.4 | ) | \u00a0 | \u00a0 | (0.5 | ) | \u00a0 | \u00a0 | (0.8 | ) | \u00a0 | \u00a0 | (0.9 | ) |
| Recognized net actuarial gain | \u00a0 | \u00a0 | (1.2 | ) | \u00a0 | \u00a0 | (1.1 | ) | \u00a0 | \u00a0 | (2.4 | ) | \u00a0 | \u00a0 | (2.2 | ) |
| Total postretirement cost (benefit) | \u00a0 | $ | (0.8 | ) | \u00a0 | $ | (0.9 | ) | \u00a0 | $ | (1.8 | ) | \u00a0 | $ | (1.9 | ) |
14. STOCKHOLDERS' EQUITY
\n\u00a0
\nThe following table presents a reconciliation of our stockholders' equity accounts for the\u00a0twenty-six weeks ended November 26, 2023:
\n\u00a0
\n \n| \u00a0 | \u00a0 | Conagra Brands, Inc. Stockholders' Equity | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | |||||||||||||||||||||
| \u00a0 | \u00a0 | Common Shares | \u00a0 | \u00a0 | Common Stock | \u00a0 | \u00a0 | Additional Paid-in Capital | \u00a0 | \u00a0 | Retained Earnings | \u00a0 | \u00a0 | Accumulated Other Comprehensive Loss | \u00a0 | \u00a0 | Treasury Stock | \u00a0 | \u00a0 | Noncontrolling Interests | \u00a0 | \u00a0 | Total Equity | \u00a0 | ||||||||
| Balance at May 28, 2023 | \u00a0 | \u00a0 | 584.2 | \u00a0 | \u00a0 | $ | 2,921.2 | \u00a0 | \u00a0 | $ | 2,376.9 | \u00a0 | \u00a0 | $ | 6,599.4 | \u00a0 | \u00a0 | $ | (44.4 | ) | \u00a0 | $ | (3,116.3 | ) | \u00a0 | $ | 70.5 | \u00a0 | \u00a0 | $ | 8,807.3 | \u00a0 |
| Stock option and incentive plans | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (42.9 | ) | \u00a0 | \u00a0 | 1.1 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | 25.6 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (16.2 | ) |
| Currency translation adjustments | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | 10.7 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (0.1 | ) | \u00a0 | \u00a0 | 10.6 | \u00a0 |
| Derivative adjustments | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | 1.6 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | 1.6 | \u00a0 |
| Activities of noncontrolling interests | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | 0.2 | \u00a0 | \u00a0 | \u00a0 | 0.2 | \u00a0 |
| Pension and postretirement healthcare benefits | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (0.8 | ) | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (0.8 | ) |
| Dividends declared on common stock; $0.35 per share | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (167.3 | ) | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (167.3 | ) |
| Net income attributable to Conagra Brands, Inc. | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | 319.7 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | 319.7 | \u00a0 |
| Balance at August 27, 2023 | \u00a0 | \u00a0 | 584.2 | \u00a0 | \u00a0 | $ | 2,921.2 | \u00a0 | \u00a0 | $ | 2,334.0 | \u00a0 | \u00a0 | $ | 6,752.9 | \u00a0 | \u00a0 | $ | (32.9 | ) | \u00a0 | $ | (3,090.7 | ) | \u00a0 | $ | 70.6 | \u00a0 | \u00a0 | $ | 8,955.1 | \u00a0 |
| Stock option and incentive plans | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | 5.6 | \u00a0 | \u00a0 | \u00a0 | (0.4 | ) | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | 1.1 | \u00a0 | \u00a0 | \u00a0 | 0.3 | \u00a0 | \u00a0 | \u00a0 | 6.6 | \u00a0 |
| Currency translation adjustments | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (5.6 | ) | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (0.7 | ) | \u00a0 | \u00a0 | (6.3 | ) |
| Derivative adjustments | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | 0.8 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | 0.8 | \u00a0 |
| Pension and postretirement healthcare benefits | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (1.0 | ) | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (1.0 | ) |
| Dividends declared on common stock; $0.35 per share | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (167.2 | ) | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (167.2 | ) |
| Net income attributable to Conagra Brands, Inc. | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | 286.2 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | 286.2 | \u00a0 |
| Balance at November 26, 2023 | \u00a0 | \u00a0 | 584.2 | \u00a0 | \u00a0 | $ | 2,921.2 | \u00a0 | \u00a0 | $ | 2,339.6 | \u00a0 | \u00a0 | $ | 6,871.5 | \u00a0 | \u00a0 | $ | (38.7 | ) | \u00a0 | $ | (3,089.6 | ) | \u00a0 | $ | 70.2 | \u00a0 | \u00a0 | $ | 9,074.2 | \u00a0 |
\u00a0
\n \n \nThe following table presents a reconciliation of our stockholders' equity accounts for the twenty-six weeks ended November 27, 2022:
\n\u00a0
\n \n| \u00a0 | \u00a0 | Conagra Brands, Inc. Stockholders' Equity | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | |||||||||||||||||||||
| \u00a0 | \u00a0 | Common Shares | \u00a0 | \u00a0 | Common Stock | \u00a0 | \u00a0 | Additional Paid-in Capital | \u00a0 | \u00a0 | Retained Earnings | \u00a0 | \u00a0 | Accumulated Other Comprehensive Loss | \u00a0 | \u00a0 | Treasury Stock | \u00a0 | \u00a0 | Noncontrolling Interests | \u00a0 | \u00a0 | Total Equity | \u00a0 | ||||||||
| Balance at May 29, 2022 | \u00a0 | \u00a0 | 584.2 | \u00a0 | \u00a0 | $ | 2,921.2 | \u00a0 | \u00a0 | $ | 2,324.6 | \u00a0 | \u00a0 | $ | 6,550.7 | \u00a0 | \u00a0 | $ | (11.2 | ) | \u00a0 | $ | (2,997.6 | ) | \u00a0 | $ | 74.5 | \u00a0 | \u00a0 | $ | 8,862.2 | \u00a0 |
| Stock option and incentive plans | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (1.6 | ) | \u00a0 | \u00a0 | 0.2 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | 16.3 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | 14.9 | \u00a0 |
| Currency translation adjustments | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (11.5 | ) | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (2.1 | ) | \u00a0 | \u00a0 | (13.6 | ) |
| Repurchase of common shares | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (50.0 | ) | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (50.0 | ) |
| Derivative adjustments | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (2.1 | ) | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (2.1 | ) |
| Pension and postretirement healthcare benefits | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | 1.4 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | 1.4 | \u00a0 |
| Dividends declared on common stock; $0.33 per share | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (158.6 | ) | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (158.6 | ) |
| Net loss attributable to Conagra Brands, Inc. | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (77.5 | ) | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (77.5 | ) |
| Balance at August 28, 2022 | \u00a0 | \u00a0 | 584.2 | \u00a0 | \u00a0 | $ | 2,921.2 | \u00a0 | \u00a0 | $ | 2,323.0 | \u00a0 | \u00a0 | $ | 6,314.8 | \u00a0 | \u00a0 | $ | (23.4 | ) | \u00a0 | $ | (3,031.3 | ) | \u00a0 | $ | 72.4 | \u00a0 | \u00a0 | $ | 8,576.7 | \u00a0 |
| Stock option and incentive plans | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | 37.9 | \u00a0 | \u00a0 | \u00a0 | (2.4 | ) | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | 3.6 | \u00a0 | \u00a0 | \u00a0 | 0.5 | \u00a0 | \u00a0 | \u00a0 | 39.6 | \u00a0 |
| Currency translation adjustments | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (6.5 | ) | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (1.7 | ) | \u00a0 | \u00a0 | (8.2 | ) |
| Repurchase of common shares | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (100.0 | ) | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (100.0 | ) |
| Derivative adjustments | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | 6.6 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | 6.6 | \u00a0 |
| Activities of noncontrolling interests | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | 0.3 | \u00a0 | \u00a0 | \u00a0 | 0.3 | \u00a0 |
| Pension and postretirement healthcare benefits | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (1.3 | ) | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | ) | \u00a0 | \u00a0 | (1.4 | ) | |
| Dividends declared on common stock; $0.33 per share | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (157.8 | ) | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (157.8 | ) |
| Net income attributable to Conagra Brands, Inc. | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | 381.9 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | 381.9 | \u00a0 |
| Balance at November 27, 2022 | \u00a0 | \u00a0 | 584.2 | \u00a0 | \u00a0 | $ | 2,921.2 | \u00a0 | \u00a0 | $ | 2,360.9 | \u00a0 | \u00a0 | $ | 6,536.5 | \u00a0 | \u00a0 | $ | (24.6 | ) | \u00a0 | $ | (3,127.7 | ) | \u00a0 | $ | 71.4 | \u00a0 | \u00a0 | $ | 8,737.7 | \u00a0 |
\u00a0\u00a0
\nThe following table details the accumulated balances for each component of other comprehensive loss, net of tax:
\n\u00a0
\n \n| \u00a0 | \u00a0 | November 26, 2023 | \u00a0 | \u00a0 | May 28, 2023 | \u00a0 | ||
| Currency translation losses, net of reclassification adjustments | \u00a0 | $ | (94.6 | ) | \u00a0 | $ | (99.7 | ) |
| Derivative adjustments, net of reclassification adjustments | \u00a0 | \u00a0 | 31.6 | \u00a0 | \u00a0 | \u00a0 | 29.2 | \u00a0 |
| Pension and postretirement benefit obligations, net of reclassification adjustments | \u00a0 | \u00a0 | 24.3 | \u00a0 | \u00a0 | \u00a0 | 26.1 | \u00a0 |
| Accumulated other comprehensive loss | \u00a0 | $ | (38.7 | ) | \u00a0 | $ | (44.4 | ) |
\u00a0
\n \n \nThe following tables summarize\u00a0the reclassifications from accumulated other comprehensive income (loss) into income:
\n\u00a0
\n \n| \u00a0 | \u00a0 | Thirteen Weeks Ended | \u00a0 | Affected Line Item in the Condensed Consolidated Statement of Earnings1 | |||||
| \u00a0 | \u00a0 | November 26, 2023 | \u00a0 | \u00a0 | November 27, 2022 | \u00a0 | \u00a0 | ||
| Net derivative adjustments: | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Cash flow hedges | \u00a0 | $ | (0.9 | ) | \u00a0 | $ | (0.8 | ) | Interest expense, net |
| Cash flow hedges | \u00a0 | \u00a0 | (1.2 | ) | \u00a0 | \u00a0 | (0.2 | ) | Equity method investment earnings |
| \u00a0 | \u00a0 | \u00a0 | (2.1 | ) | \u00a0 | \u00a0 | (1.0 | ) | Total before tax |
| \u00a0 | \u00a0 | \u00a0 | 0.5 | \u00a0 | \u00a0 | \u00a0 | 0.3 | \u00a0 | Income tax expense |
| \u00a0 | \u00a0 | $ | (1.6 | ) | \u00a0 | $ | (0.7 | ) | Net of tax |
| Pension and postretirement liabilities: | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Net prior service cost | \u00a0 | $ | \u2014 | \u00a0 | \u00a0 | $ | (0.1 | ) | Pension and postretirement non-service income |
| Net actuarial gain | \u00a0 | \u00a0 | (1.2 | ) | \u00a0 | \u00a0 | (1.1 | ) | Pension and postretirement non-service income |
| \u00a0 | \u00a0 | \u00a0 | (1.2 | ) | \u00a0 | \u00a0 | (1.2 | ) | Total before tax |
| \u00a0 | \u00a0 | \u00a0 | 0.3 | \u00a0 | \u00a0 | \u00a0 | 0.3 | \u00a0 | Income tax expense |
| \u00a0 | \u00a0 | $ | (0.9 | ) | \u00a0 | $ | (0.9 | ) | Net of tax |
\u00a0
\n \n| \u00a0 | \u00a0 | Twenty-Six Weeks Ended | \u00a0 | Affected Line Item in the Condensed Consolidated Statement of Earnings1 | |||||
| \u00a0 | \u00a0 | November 26, 2023 | \u00a0 | \u00a0 | November 27, 2022 | \u00a0 | \u00a0 | ||
| Net derivative adjustments: | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Cash flow hedges | \u00a0 | $ | (1.8 | ) | \u00a0 | $ | (1.6 | ) | Interest expense, net |
| Cash flow hedges | \u00a0 | \u00a0 | (2.3 | ) | \u00a0 | \u00a0 | \u2014 | \u00a0 | Equity method investment earnings |
| \u00a0 | \u00a0 | \u00a0 | (4.1 | ) | \u00a0 | \u00a0 | (1.6 | ) | Total before tax |
| \u00a0 | \u00a0 | \u00a0 | 1.0 | \u00a0 | \u00a0 | \u00a0 | 0.5 | \u00a0 | Income tax expense |
| \u00a0 | \u00a0 | $ | (3.1 | ) | \u00a0 | $ | (1.1 | ) | Net of tax |
| Pension and postretirement liabilities: | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Net prior service cost | \u00a0 | $ | \u2014 | \u00a0 | \u00a0 | $ | (0.1 | ) | Pension and postretirement non-service income |
| Net actuarial gain | \u00a0 | \u00a0 | (2.4 | ) | \u00a0 | \u00a0 | (2.2 | ) | Pension and postretirement non-service income |
| \u00a0 | \u00a0 | \u00a0 | (2.4 | ) | \u00a0 | \u00a0 | (2.3 | ) | Total before tax |
| \u00a0 | \u00a0 | \u00a0 | 0.6 | \u00a0 | \u00a0 | \u00a0 | 0.7 | \u00a0 | Income tax expense |
| \u00a0 | \u00a0 | $ | (1.8 | ) | \u00a0 | $ | (1.6 | ) | Net of tax |
\u00a0
\n\u00a0
\n| \u00a0 | \u00a0 | Conagra Brands, Inc. Stockholders' Equity | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | |||||||||||||||||||||
| \u00a0 | \u00a0 | Common Shares | \u00a0 | \u00a0 | Common Stock | \u00a0 | \u00a0 | Additional Paid-in Capital | \u00a0 | \u00a0 | Retained Earnings | \u00a0 | \u00a0 | Accumulated Other Comprehensive Loss | \u00a0 | \u00a0 | Treasury Stock | \u00a0 | \u00a0 | Noncontrolling Interests | \u00a0 | \u00a0 | Total Equity | \u00a0 | ||||||||
| Balance at May 28, 2023 | \u00a0 | \u00a0 | 584.2 | \u00a0 | \u00a0 | $ | 2,921.2 | \u00a0 | \u00a0 | $ | 2,376.9 | \u00a0 | \u00a0 | $ | 6,599.4 | \u00a0 | \u00a0 | $ | (44.4 | ) | \u00a0 | $ | (3,116.3 | ) | \u00a0 | $ | 70.5 | \u00a0 | \u00a0 | $ | 8,807.3 | \u00a0 |
| Stock option and incentive plans | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (42.9 | ) | \u00a0 | \u00a0 | 1.1 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | 25.6 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (16.2 | ) |
| Currency translation adjustments | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | 10.7 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (0.1 | ) | \u00a0 | \u00a0 | 10.6 | \u00a0 |
| Derivative adjustments | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | 1.6 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | 1.6 | \u00a0 |
| Activities of noncontrolling interests | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | 0.2 | \u00a0 | \u00a0 | \u00a0 | 0.2 | \u00a0 |
| Pension and postretirement healthcare benefits | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (0.8 | ) | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (0.8 | ) |
| Dividends declared on common stock; $0.35 per share | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (167.3 | ) | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (167.3 | ) |
| Net income attributable to Conagra Brands, Inc. | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | 319.7 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | 319.7 | \u00a0 |
| Balance at August 27, 2023 | \u00a0 | \u00a0 | 584.2 | \u00a0 | \u00a0 | $ | 2,921.2 | \u00a0 | \u00a0 | $ | 2,334.0 | \u00a0 | \u00a0 | $ | 6,752.9 | \u00a0 | \u00a0 | $ | (32.9 | ) | \u00a0 | $ | (3,090.7 | ) | \u00a0 | $ | 70.6 | \u00a0 | \u00a0 | $ | 8,955.1 | \u00a0 |
| Stock option and incentive plans | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | 5.6 | \u00a0 | \u00a0 | \u00a0 | (0.4 | ) | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | 1.1 | \u00a0 | \u00a0 | \u00a0 | 0.3 | \u00a0 | \u00a0 | \u00a0 | 6.6 | \u00a0 |
| Currency translation adjustments | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (5.6 | ) | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (0.7 | ) | \u00a0 | \u00a0 | (6.3 | ) |
| Derivative adjustments | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | 0.8 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | 0.8 | \u00a0 |
| Pension and postretirement healthcare benefits | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (1.0 | ) | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (1.0 | ) |
| Dividends declared on common stock; $0.35 per share | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (167.2 | ) | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (167.2 | ) |
| Net income attributable to Conagra Brands, Inc. | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | 286.2 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | 286.2 | \u00a0 |
| Balance at November 26, 2023 | \u00a0 | \u00a0 | 584.2 | \u00a0 | \u00a0 | $ | 2,921.2 | \u00a0 | \u00a0 | $ | 2,339.6 | \u00a0 | \u00a0 | $ | 6,871.5 | \u00a0 | \u00a0 | $ | (38.7 | ) | \u00a0 | $ | (3,089.6 | ) | \u00a0 | $ | 70.2 | \u00a0 | \u00a0 | $ | 9,074.2 | \u00a0 |
| \u00a0 | \u00a0 | Conagra Brands, Inc. Stockholders' Equity | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | |||||||||||||||||||||
| \u00a0 | \u00a0 | Common Shares | \u00a0 | \u00a0 | Common Stock | \u00a0 | \u00a0 | Additional Paid-in Capital | \u00a0 | \u00a0 | Retained Earnings | \u00a0 | \u00a0 | Accumulated Other Comprehensive Loss | \u00a0 | \u00a0 | Treasury Stock | \u00a0 | \u00a0 | Noncontrolling Interests | \u00a0 | \u00a0 | Total Equity | \u00a0 | ||||||||
| Balance at May 29, 2022 | \u00a0 | \u00a0 | 584.2 | \u00a0 | \u00a0 | $ | 2,921.2 | \u00a0 | \u00a0 | $ | 2,324.6 | \u00a0 | \u00a0 | $ | 6,550.7 | \u00a0 | \u00a0 | $ | (11.2 | ) | \u00a0 | $ | (2,997.6 | ) | \u00a0 | $ | 74.5 | \u00a0 | \u00a0 | $ | 8,862.2 | \u00a0 |
| Stock option and incentive plans | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (1.6 | ) | \u00a0 | \u00a0 | 0.2 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | 16.3 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | 14.9 | \u00a0 |
| Currency translation adjustments | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (11.5 | ) | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (2.1 | ) | \u00a0 | \u00a0 | (13.6 | ) |
| Repurchase of common shares | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (50.0 | ) | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (50.0 | ) |
| Derivative adjustments | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (2.1 | ) | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (2.1 | ) |
| Pension and postretirement healthcare benefits | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | 1.4 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | 1.4 | \u00a0 |
| Dividends declared on common stock; $0.33 per share | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (158.6 | ) | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (158.6 | ) |
| Net loss attributable to Conagra Brands, Inc. | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (77.5 | ) | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (77.5 | ) |
| Balance at August 28, 2022 | \u00a0 | \u00a0 | 584.2 | \u00a0 | \u00a0 | $ | 2,921.2 | \u00a0 | \u00a0 | $ | 2,323.0 | \u00a0 | \u00a0 | $ | 6,314.8 | \u00a0 | \u00a0 | $ | (23.4 | ) | \u00a0 | $ | (3,031.3 | ) | \u00a0 | $ | 72.4 | \u00a0 | \u00a0 | $ | 8,576.7 | \u00a0 |
| Stock option and incentive plans | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | 37.9 | \u00a0 | \u00a0 | \u00a0 | (2.4 | ) | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | 3.6 | \u00a0 | \u00a0 | \u00a0 | 0.5 | \u00a0 | \u00a0 | \u00a0 | 39.6 | \u00a0 |
| Currency translation adjustments | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (6.5 | ) | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (1.7 | ) | \u00a0 | \u00a0 | (8.2 | ) |
| Repurchase of common shares | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (100.0 | ) | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (100.0 | ) |
| Derivative adjustments | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | 6.6 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | 6.6 | \u00a0 |
| Activities of noncontrolling interests | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | 0.3 | \u00a0 | \u00a0 | \u00a0 | 0.3 | \u00a0 |
| Pension and postretirement healthcare benefits | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (1.3 | ) | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | ) | \u00a0 | \u00a0 | (1.4 | ) | |
| Dividends declared on common stock; $0.33 per share | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (157.8 | ) | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (157.8 | ) |
| Net income attributable to Conagra Brands, Inc. | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | 381.9 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | 381.9 | \u00a0 |
| Balance at November 27, 2022 | \u00a0 | \u00a0 | 584.2 | \u00a0 | \u00a0 | $ | 2,921.2 | \u00a0 | \u00a0 | $ | 2,360.9 | \u00a0 | \u00a0 | $ | 6,536.5 | \u00a0 | \u00a0 | $ | (24.6 | ) | \u00a0 | $ | (3,127.7 | ) | \u00a0 | $ | 71.4 | \u00a0 | \u00a0 | $ | 8,737.7 | \u00a0 |
| \u00a0 | \u00a0 | November 26, 2023 | \u00a0 | \u00a0 | May 28, 2023 | \u00a0 | ||
| Currency translation losses, net of reclassification adjustments | \u00a0 | $ | (94.6 | ) | \u00a0 | $ | (99.7 | ) |
| Derivative adjustments, net of reclassification adjustments | \u00a0 | \u00a0 | 31.6 | \u00a0 | \u00a0 | \u00a0 | 29.2 | \u00a0 |
| Pension and postretirement benefit obligations, net of reclassification adjustments | \u00a0 | \u00a0 | 24.3 | \u00a0 | \u00a0 | \u00a0 | 26.1 | \u00a0 |
| Accumulated other comprehensive loss | \u00a0 | $ | (38.7 | ) | \u00a0 | $ | (44.4 | ) |
| \u00a0 | \u00a0 | Thirteen Weeks Ended | \u00a0 | Affected Line Item in the Condensed Consolidated Statement of Earnings1 | |||||
| \u00a0 | \u00a0 | November 26, 2023 | \u00a0 | \u00a0 | November 27, 2022 | \u00a0 | \u00a0 | ||
| Net derivative adjustments: | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Cash flow hedges | \u00a0 | $ | (0.9 | ) | \u00a0 | $ | (0.8 | ) | Interest expense, net |
| Cash flow hedges | \u00a0 | \u00a0 | (1.2 | ) | \u00a0 | \u00a0 | (0.2 | ) | Equity method investment earnings |
| \u00a0 | \u00a0 | \u00a0 | (2.1 | ) | \u00a0 | \u00a0 | (1.0 | ) | Total before tax |
| \u00a0 | \u00a0 | \u00a0 | 0.5 | \u00a0 | \u00a0 | \u00a0 | 0.3 | \u00a0 | Income tax expense |
| \u00a0 | \u00a0 | $ | (1.6 | ) | \u00a0 | $ | (0.7 | ) | Net of tax |
| Pension and postretirement liabilities: | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Net prior service cost | \u00a0 | $ | \u2014 | \u00a0 | \u00a0 | $ | (0.1 | ) | Pension and postretirement non-service income |
| Net actuarial gain | \u00a0 | \u00a0 | (1.2 | ) | \u00a0 | \u00a0 | (1.1 | ) | Pension and postretirement non-service income |
| \u00a0 | \u00a0 | \u00a0 | (1.2 | ) | \u00a0 | \u00a0 | (1.2 | ) | Total before tax |
| \u00a0 | \u00a0 | \u00a0 | 0.3 | \u00a0 | \u00a0 | \u00a0 | 0.3 | \u00a0 | Income tax expense |
| \u00a0 | \u00a0 | $ | (0.9 | ) | \u00a0 | $ | (0.9 | ) | Net of tax |
| \u00a0 | \u00a0 | Twenty-Six Weeks Ended | \u00a0 | Affected Line Item in the Condensed Consolidated Statement of Earnings1 | |||||
| \u00a0 | \u00a0 | November 26, 2023 | \u00a0 | \u00a0 | November 27, 2022 | \u00a0 | \u00a0 | ||
| Net derivative adjustments: | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Cash flow hedges | \u00a0 | $ | (1.8 | ) | \u00a0 | $ | (1.6 | ) | Interest expense, net |
| Cash flow hedges | \u00a0 | \u00a0 | (2.3 | ) | \u00a0 | \u00a0 | \u2014 | \u00a0 | Equity method investment earnings |
| \u00a0 | \u00a0 | \u00a0 | (4.1 | ) | \u00a0 | \u00a0 | (1.6 | ) | Total before tax |
| \u00a0 | \u00a0 | \u00a0 | 1.0 | \u00a0 | \u00a0 | \u00a0 | 0.5 | \u00a0 | Income tax expense |
| \u00a0 | \u00a0 | $ | (3.1 | ) | \u00a0 | $ | (1.1 | ) | Net of tax |
| Pension and postretirement liabilities: | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Net prior service cost | \u00a0 | $ | \u2014 | \u00a0 | \u00a0 | $ | (0.1 | ) | Pension and postretirement non-service income |
| Net actuarial gain | \u00a0 | \u00a0 | (2.4 | ) | \u00a0 | \u00a0 | (2.2 | ) | Pension and postretirement non-service income |
| \u00a0 | \u00a0 | \u00a0 | (2.4 | ) | \u00a0 | \u00a0 | (2.3 | ) | Total before tax |
| \u00a0 | \u00a0 | \u00a0 | 0.6 | \u00a0 | \u00a0 | \u00a0 | 0.7 | \u00a0 | Income tax expense |
| \u00a0 | \u00a0 | $ | (1.8 | ) | \u00a0 | $ | (1.6 | ) | Net of tax |
15. FAIR VALUE MEASUREMENTS
\n\u00a0
\nFinancial Accounting Standards Board 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:
\n\u00a0
\nLevel 1\u00a0\u2014 Unadjusted quoted prices in active markets for identical assets or liabilities,
\n\u00a0
\nLevel\u00a02\u00a0\u2014 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
\n\u00a0
\nLevel\u00a03\u00a0\u2014 Unobservable inputs reflecting our own assumptions and best estimate of what inputs market participants would use in pricing the asset or liability.
\n\u00a0
\nThe fair values of our Level 2 derivative instruments were determined using valuation models that use market observable inputs including 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.
\n\u00a0
\nThe 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 November 26, 2023:
\n\u00a0
\n \n| \u00a0 | \u00a0 | Level 1 | \u00a0 | \u00a0 | Level 2 | \u00a0 | \u00a0 | Level 3 | \u00a0 | \u00a0 | Net Value | \u00a0 | ||||
| Assets: | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Derivative assets | \u00a0 | $ | 3.9 | \u00a0 | \u00a0 | $ | 0.3 | \u00a0 | \u00a0 | $ | \u2014 | \u00a0 | \u00a0 | $ | 4.2 | \u00a0 |
| Deferred compensation assets | \u00a0 | \u00a0 | 6.7 | \u00a0 | \u00a0 | \u00a0 | \u2014 | \u00a0 | \u00a0 | \u00a0 | \u2014 | \u00a0 | \u00a0 | \u00a0 | 6.7 | \u00a0 |
| Available-for-sale debt securities | \u00a0 | \u00a0 | \u2014 | \u00a0 | \u00a0 | \u00a0 | \u2014 | \u00a0 | \u00a0 | \u00a0 | 4.0 | \u00a0 | \u00a0 | \u00a0 | 4.0 | \u00a0 |
| Total assets | \u00a0 | $ | 10.6 | \u00a0 | \u00a0 | $ | 0.3 | \u00a0 | \u00a0 | $ | 4.0 | \u00a0 | \u00a0 | $ | 14.9 | \u00a0 |
| Liabilities: | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Derivative liabilities | \u00a0 | $ | \u2014 | \u00a0 | \u00a0 | $ | 1.0 | \u00a0 | \u00a0 | $ | \u2014 | \u00a0 | \u00a0 | $ | 1.0 | \u00a0 |
| Deferred compensation liabilities | \u00a0 | \u00a0 | 71.7 | \u00a0 | \u00a0 | \u00a0 | \u2014 | \u00a0 | \u00a0 | \u00a0 | \u2014 | \u00a0 | \u00a0 | \u00a0 | 71.7 | \u00a0 |
| Total liabilities | \u00a0 | $ | 71.7 | \u00a0 | \u00a0 | $ | 1.0 | \u00a0 | \u00a0 | $ | \u2014 | \u00a0 | \u00a0 | $ | 72.7 | \u00a0 |
\u00a0
\nThe 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, 2023:
\n\u00a0
\n \n| \u00a0 | \u00a0 | Level 1 | \u00a0 | \u00a0 | Level 2 | \u00a0 | \u00a0 | Level 3 | \u00a0 | \u00a0 | Net Value | \u00a0 | ||||
| Assets: | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Derivative assets | \u00a0 | $ | 9.4 | \u00a0 | \u00a0 | $ | 0.6 | \u00a0 | \u00a0 | $ | \u2014 | \u00a0 | \u00a0 | $ | 10.0 | \u00a0 |
| Deferred compensation assets | \u00a0 | \u00a0 | 7.1 | \u00a0 | \u00a0 | \u00a0 | \u2014 | \u00a0 | \u00a0 | \u00a0 | \u2014 | \u00a0 | \u00a0 | \u00a0 | 7.1 | \u00a0 |
| Available-for-sale debt securities | \u00a0 | \u00a0 | \u2014 | \u00a0 | \u00a0 | \u00a0 | \u2014 | \u00a0 | \u00a0 | \u00a0 | 4.0 | \u00a0 | \u00a0 | \u00a0 | 4.0 | \u00a0 |
| Total assets | \u00a0 | $ | 16.5 | \u00a0 | \u00a0 | $ | 0.6 | \u00a0 | \u00a0 | $ | 4.0 | \u00a0 | \u00a0 | $ | 21.1 | \u00a0 |
| Liabilities: | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Derivative liabilities | \u00a0 | $ | \u2014 | \u00a0 | \u00a0 | $ | 3.6 | \u00a0 | \u00a0 | $ | \u2014 | \u00a0 | \u00a0 | $ | 3.6 | \u00a0 |
| Deferred compensation liabilities | \u00a0 | \u00a0 | 67.0 | \u00a0 | \u00a0 | \u00a0 | \u2014 | \u00a0 | \u00a0 | \u00a0 | \u2014 | \u00a0 | \u00a0 | \u00a0 | 67.0 | \u00a0 |
| Total liabilities | \u00a0 | $ | 67.0 | \u00a0 | \u00a0 | $ | 3.6 | \u00a0 | \u00a0 | $ | \u2014 | \u00a0 | \u00a0 | $ | 70.6 | \u00a0 |
\u00a0
\n \n \nCertain assets and liabilities, including long-lived assets, goodwill, asset retirement obligations, and equity investments are measured at fair value on a nonrecurring basis using Level 3 inputs.
\n\u00a0
\nIn the second quarter of fiscal 2024, we recognized an impairment charge totaling $34.2 million in our International segment. The impairment was measured based upon the estimated sales price of the disposal group (see Note 2).
\n\u00a0
\nIn the first quarter of fiscal 2024, we recognized charges for the impairment of certain long-lived assets based upon a discounted cash flow valuation model and included in restructuring activities (see Note 3). Impairments totaled $0.6 million in our Grocery & Snacks segment and $14.1 million in our International segment.
\n\u00a0
\nIn the first quarter of fiscal 2023, we recognized a charge\u00a0for the impairment of an indefinite-lived brand\u00a0of $244.0 million in our Refrigerated & Frozen segment. The fair value\u00a0of this brand was\u00a0estimated using the \"relief from royalty\" method (see Note 6).
\n\u00a0
\nDuring the first quarter of fiscal 2023, goodwill impairment charges totaling $141.7 million were recognized within our Refrigerated & Frozen segment.\u00a0The fair value of the goodwill was measured using a discounted cash flow valuation model specific to the Sides, Components and Enhancers reporting unit\u00a0(see Note 6).
\n\u00a0
\nIn the first quarter\u00a0of fiscal 2023, we recognized impairment charges totaling $0.5 million in our Grocery & Snacks segment, $5.7 million in our Refrigerated & Frozen segment, and $20.5 million in our Foodservice segment. The fair value was measured based upon the estimated sales price of a disposal group\u00a0that no longer met the held for sale criteria as of the second quarter of fiscal 2023.
\n\u00a0
\nThe carrying amount of long-term debt (including current installments) was $8.51 billion and $8.60 billion as of November 26, 2023 and May 28, 2023, respectively. Based on current market rates, the fair value of this debt (level 2 liabilities) at November 26, 2023 and May 28, 2023, was estimated at $8.11\u00a0billion and $8.31 billion, respectively.
\n\u00a0
\n \n \n "}]},{"name":"rpt:f-911","factDimensions":{"xbrl:concept":"us-gaap:ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock","xbrl:period":"2023-05-29T00:00:00/2023-11-27T00:00:00","xbrl:entity":"cik:0000023217"},"factValues":[{"value":" \n| \u00a0 | \u00a0 | Level 1 | \u00a0 | \u00a0 | Level 2 | \u00a0 | \u00a0 | Level 3 | \u00a0 | \u00a0 | Net Value | \u00a0 | ||||
| Assets: | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Derivative assets | \u00a0 | $ | 3.9 | \u00a0 | \u00a0 | $ | 0.3 | \u00a0 | \u00a0 | $ | \u2014 | \u00a0 | \u00a0 | $ | 4.2 | \u00a0 |
| Deferred compensation assets | \u00a0 | \u00a0 | 6.7 | \u00a0 | \u00a0 | \u00a0 | \u2014 | \u00a0 | \u00a0 | \u00a0 | \u2014 | \u00a0 | \u00a0 | \u00a0 | 6.7 | \u00a0 |
| Available-for-sale debt securities | \u00a0 | \u00a0 | \u2014 | \u00a0 | \u00a0 | \u00a0 | \u2014 | \u00a0 | \u00a0 | \u00a0 | 4.0 | \u00a0 | \u00a0 | \u00a0 | 4.0 | \u00a0 |
| Total assets | \u00a0 | $ | 10.6 | \u00a0 | \u00a0 | $ | 0.3 | \u00a0 | \u00a0 | $ | 4.0 | \u00a0 | \u00a0 | $ | 14.9 | \u00a0 |
| Liabilities: | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Derivative liabilities | \u00a0 | $ | \u2014 | \u00a0 | \u00a0 | $ | 1.0 | \u00a0 | \u00a0 | $ | \u2014 | \u00a0 | \u00a0 | $ | 1.0 | \u00a0 |
| Deferred compensation liabilities | \u00a0 | \u00a0 | 71.7 | \u00a0 | \u00a0 | \u00a0 | \u2014 | \u00a0 | \u00a0 | \u00a0 | \u2014 | \u00a0 | \u00a0 | \u00a0 | 71.7 | \u00a0 |
| Total liabilities | \u00a0 | $ | 71.7 | \u00a0 | \u00a0 | $ | 1.0 | \u00a0 | \u00a0 | $ | \u2014 | \u00a0 | \u00a0 | $ | 72.7 | \u00a0 |
| \u00a0 | \u00a0 | Level 1 | \u00a0 | \u00a0 | Level 2 | \u00a0 | \u00a0 | Level 3 | \u00a0 | \u00a0 | Net Value | \u00a0 | ||||
| Assets: | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Derivative assets | \u00a0 | $ | 9.4 | \u00a0 | \u00a0 | $ | 0.6 | \u00a0 | \u00a0 | $ | \u2014 | \u00a0 | \u00a0 | $ | 10.0 | \u00a0 |
| Deferred compensation assets | \u00a0 | \u00a0 | 7.1 | \u00a0 | \u00a0 | \u00a0 | \u2014 | \u00a0 | \u00a0 | \u00a0 | \u2014 | \u00a0 | \u00a0 | \u00a0 | 7.1 | \u00a0 |
| Available-for-sale debt securities | \u00a0 | \u00a0 | \u2014 | \u00a0 | \u00a0 | \u00a0 | \u2014 | \u00a0 | \u00a0 | \u00a0 | 4.0 | \u00a0 | \u00a0 | \u00a0 | 4.0 | \u00a0 |
| Total assets | \u00a0 | $ | 16.5 | \u00a0 | \u00a0 | $ | 0.6 | \u00a0 | \u00a0 | $ | 4.0 | \u00a0 | \u00a0 | $ | 21.1 | \u00a0 |
| Liabilities: | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Derivative liabilities | \u00a0 | $ | \u2014 | \u00a0 | \u00a0 | $ | 3.6 | \u00a0 | \u00a0 | $ | \u2014 | \u00a0 | \u00a0 | $ | 3.6 | \u00a0 |
| Deferred compensation liabilities | \u00a0 | \u00a0 | 67.0 | \u00a0 | \u00a0 | \u00a0 | \u2014 | \u00a0 | \u00a0 | \u00a0 | \u2014 | \u00a0 | \u00a0 | \u00a0 | 67.0 | \u00a0 |
| Total liabilities | \u00a0 | $ | 67.0 | \u00a0 | \u00a0 | $ | 3.6 | \u00a0 | \u00a0 | $ | \u2014 | \u00a0 | \u00a0 | $ | 70.6 | \u00a0 |
16. BUSINESS SEGMENTS AND RELATED INFORMATION
\n\u00a0
\nWe reflect our results of operations in four reporting segments: Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice.
\n\u00a0
\nThe Grocery & Snacks reporting segment principally includes branded, shelf-stable food products sold in various retail channels in the United States.
\n\u00a0
\nThe Refrigerated & Frozen reporting segment principally includes branded, temperature-controlled food products sold in various retail channels in the United States.
\n\u00a0
\nThe International reporting segment principally includes branded food products, in various temperature states, sold in various retail and foodservice channels outside of the United States.
\n\u00a0
\nThe 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 primarily in the United States.
\n\u00a0
\nWe do not aggregate operating segments when determining our reporting segments.
\n\u00a0
\nOperating profit\u00a0for each of the segments is based on net sales less all identifiable operating expenses. General corporate expense;\u00a0pension and postretirement non-service expense (income);\u00a0interest expense, net;\u00a0income taxes;\u00a0and equity method investment earnings have been excluded from segment operations.
\n\u00a0
\n \n| \u00a0 | \u00a0 | Thirteen Weeks Ended | \u00a0 | \u00a0 | Twenty-Six Weeks Ended | \u00a0 | ||||||||||
| \u00a0 | \u00a0 | November 26, 2023 | \u00a0 | \u00a0 | November 27, 2022 | \u00a0 | \u00a0 | November 26, 2023 | \u00a0 | \u00a0 | November 27, 2022 | \u00a0 | ||||
| Net sales | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Grocery & Snacks | \u00a0 | $ | 1,295.1 | \u00a0 | \u00a0 | $ | 1,349.9 | \u00a0 | \u00a0 | $ | 2,498.0 | \u00a0 | \u00a0 | $ | 2,538.2 | \u00a0 |
| Refrigerated & Frozen | \u00a0 | \u00a0 | 1,338.5 | \u00a0 | \u00a0 | \u00a0 | 1,421.5 | \u00a0 | \u00a0 | \u00a0 | 2,490.1 | \u00a0 | \u00a0 | \u00a0 | 2,629.1 | \u00a0 |
| International | \u00a0 | \u00a0 | 279.6 | \u00a0 | \u00a0 | \u00a0 | 258.7 | \u00a0 | \u00a0 | \u00a0 | 539.8 | \u00a0 | \u00a0 | \u00a0 | 492.2 | \u00a0 |
| Foodservice | \u00a0 | \u00a0 | 294.9 | \u00a0 | \u00a0 | \u00a0 | 282.8 | \u00a0 | \u00a0 | \u00a0 | 584.2 | \u00a0 | \u00a0 | \u00a0 | 557.7 | \u00a0 |
| Total net sales | \u00a0 | $ | 3,208.1 | \u00a0 | \u00a0 | $ | 3,312.9 | \u00a0 | \u00a0 | $ | 6,112.1 | \u00a0 | \u00a0 | $ | 6,217.2 | \u00a0 |
| Operating profit | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Grocery & Snacks | \u00a0 | $ | 279.2 | \u00a0 | \u00a0 | $ | 340.4 | \u00a0 | \u00a0 | $ | 537.9 | \u00a0 | \u00a0 | $ | 590.8 | \u00a0 |
| Refrigerated & Frozen | \u00a0 | \u00a0 | 220.2 | \u00a0 | \u00a0 | \u00a0 | 250.3 | \u00a0 | \u00a0 | \u00a0 | 419.4 | \u00a0 | \u00a0 | \u00a0 | 34.0 | \u00a0 |
| International | \u00a0 | \u00a0 | 5.9 | \u00a0 | \u00a0 | \u00a0 | 36.9 | \u00a0 | \u00a0 | \u00a0 | 29.6 | \u00a0 | \u00a0 | \u00a0 | 63.8 | \u00a0 |
| Foodservice | \u00a0 | \u00a0 | 38.0 | \u00a0 | \u00a0 | \u00a0 | 28.5 | \u00a0 | \u00a0 | \u00a0 | 82.1 | \u00a0 | \u00a0 | \u00a0 | 29.7 | \u00a0 |
| Total operating profit | \u00a0 | $ | 543.3 | \u00a0 | \u00a0 | $ | 656.1 | \u00a0 | \u00a0 | $ | 1,069.0 | \u00a0 | \u00a0 | $ | 718.3 | \u00a0 |
| Equity method investment earnings | \u00a0 | \u00a0 | 54.3 | \u00a0 | \u00a0 | \u00a0 | 49.3 | \u00a0 | \u00a0 | \u00a0 | 89.8 | \u00a0 | \u00a0 | \u00a0 | 98.5 | \u00a0 |
| General corporate expense | \u00a0 | \u00a0 | 94.8 | \u00a0 | \u00a0 | \u00a0 | 106.5 | \u00a0 | \u00a0 | \u00a0 | 131.5 | \u00a0 | \u00a0 | \u00a0 | 190.0 | \u00a0 |
| Pension and postretirement non-service expense (income) | \u00a0 | \u00a0 | 0.4 | \u00a0 | \u00a0 | \u00a0 | (6.1 | ) | \u00a0 | \u00a0 | 0.7 | \u00a0 | \u00a0 | \u00a0 | (12.2 | ) |
| Interest expense, net | \u00a0 | \u00a0 | 113.3 | \u00a0 | \u00a0 | \u00a0 | 100.3 | \u00a0 | \u00a0 | \u00a0 | 219.3 | \u00a0 | \u00a0 | \u00a0 | 197.4 | \u00a0 |
| Income tax expense | \u00a0 | \u00a0 | 102.9 | \u00a0 | \u00a0 | \u00a0 | 122.5 | \u00a0 | \u00a0 | \u00a0 | 201.2 | \u00a0 | \u00a0 | \u00a0 | 136.9 | \u00a0 |
| Net income | \u00a0 | $ | 286.2 | \u00a0 | \u00a0 | $ | 382.2 | \u00a0 | \u00a0 | $ | 606.1 | \u00a0 | \u00a0 | $ | 304.7 | \u00a0 |
| Less: Net income attributable to noncontrolling interests | \u00a0 | \u00a0 | \u2014 | \u00a0 | \u00a0 | \u00a0 | 0.3 | \u00a0 | \u00a0 | \u00a0 | 0.2 | \u00a0 | \u00a0 | \u00a0 | 0.3 | \u00a0 |
| Net income attributable to Conagra Brands, Inc. | \u00a0 | $ | 286.2 | \u00a0 | \u00a0 | $ | 381.9 | \u00a0 | \u00a0 | $ | 605.9 | \u00a0 | \u00a0 | $ | 304.4 | \u00a0 |
\u00a0
\n \n \nThe following table presents further disaggregation of our net sales:
\n\u00a0
\n \n| \u00a0 | \u00a0 | Thirteen Weeks Ended | \u00a0 | \u00a0 | Twenty-Six Weeks Ended | \u00a0 | ||||||||||
| \u00a0 | \u00a0 | November 26, 2023 | \u00a0 | \u00a0 | November 27, 2022 | \u00a0 | \u00a0 | November 26, 2023 | \u00a0 | \u00a0 | November 27, 2022 | \u00a0 | ||||
| Frozen | \u00a0 | $ | 1,106.1 | \u00a0 | \u00a0 | $ | 1,157.5 | \u00a0 | \u00a0 | $ | 2,054.5 | \u00a0 | \u00a0 | $ | 2,165.9 | \u00a0 |
| Staples | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Other shelf-stable | \u00a0 | \u00a0 | 728.0 | \u00a0 | \u00a0 | \u00a0 | 758.4 | \u00a0 | \u00a0 | \u00a0 | 1,424.8 | \u00a0 | \u00a0 | \u00a0 | 1,448.5 | \u00a0 |
| Refrigerated | \u00a0 | \u00a0 | 232.4 | \u00a0 | \u00a0 | \u00a0 | 264.0 | \u00a0 | \u00a0 | \u00a0 | 435.6 | \u00a0 | \u00a0 | \u00a0 | 463.2 | \u00a0 |
| Snacks | \u00a0 | \u00a0 | 567.1 | \u00a0 | \u00a0 | \u00a0 | 591.5 | \u00a0 | \u00a0 | \u00a0 | 1,073.2 | \u00a0 | \u00a0 | \u00a0 | 1,089.7 | \u00a0 |
| Foodservice | \u00a0 | \u00a0 | 294.9 | \u00a0 | \u00a0 | \u00a0 | 282.8 | \u00a0 | \u00a0 | \u00a0 | 584.2 | \u00a0 | \u00a0 | \u00a0 | 557.7 | \u00a0 |
| International | \u00a0 | \u00a0 | 279.6 | \u00a0 | \u00a0 | \u00a0 | 258.7 | \u00a0 | \u00a0 | \u00a0 | 539.8 | \u00a0 | \u00a0 | \u00a0 | 492.2 | \u00a0 |
| Total net sales | \u00a0 | $ | 3,208.1 | \u00a0 | \u00a0 | $ | 3,312.9 | \u00a0 | \u00a0 | $ | 6,112.1 | \u00a0 | \u00a0 | $ | 6,217.2 | \u00a0 |
\u00a0
\nTo be consistent with the manner in which we present certain disaggregated net sales information to investors, we have categorized certain net sales of our segments as \"Staples\", which includes all of our U.S. domestic retail refrigerated products and other shelf-stable grocery products. Management continues to regularly review financial results and make decisions about allocating resources based upon the four reporting segments outlined above.
\n\u00a0
\nAssets by Segment
\n\u00a0
\nThe 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 $86.0\u00a0million and $169.1\u00a0million for the second quarter and first half of fiscal 2024,\u00a0respectively. Total depreciation expense was $77.8 million and $156.0 million for the second quarter and first half of fiscal 2023, respectively.\u00a0\u00a0\u00a0\u00a0
\n\u00a0
\n \n \n "}]},{"name":"rpt:f-981","factDimensions":{"xbrl:concept":"us-gaap:NumberOfReportableSegments","xbrl:period":"2023-08-28T00:00:00/2023-11-27T00:00:00","xbrl:entity":"cik:0000023217"},"factValues":[{"value":"4"}]},{"name":"rpt:f-982","factDimensions":{"xbrl:concept":"us-gaap:ScheduleOfSegmentReportingInformationBySegmentTextBlock","xbrl:period":"2023-05-29T00:00:00/2023-11-27T00:00:00","xbrl:entity":"cik:0000023217"},"factValues":[{"value":" \n| \u00a0 | \u00a0 | Thirteen Weeks Ended | \u00a0 | \u00a0 | Twenty-Six Weeks Ended | \u00a0 | ||||||||||
| \u00a0 | \u00a0 | November 26, 2023 | \u00a0 | \u00a0 | November 27, 2022 | \u00a0 | \u00a0 | November 26, 2023 | \u00a0 | \u00a0 | November 27, 2022 | \u00a0 | ||||
| Net sales | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Grocery & Snacks | \u00a0 | $ | 1,295.1 | \u00a0 | \u00a0 | $ | 1,349.9 | \u00a0 | \u00a0 | $ | 2,498.0 | \u00a0 | \u00a0 | $ | 2,538.2 | \u00a0 |
| Refrigerated & Frozen | \u00a0 | \u00a0 | 1,338.5 | \u00a0 | \u00a0 | \u00a0 | 1,421.5 | \u00a0 | \u00a0 | \u00a0 | 2,490.1 | \u00a0 | \u00a0 | \u00a0 | 2,629.1 | \u00a0 |
| International | \u00a0 | \u00a0 | 279.6 | \u00a0 | \u00a0 | \u00a0 | 258.7 | \u00a0 | \u00a0 | \u00a0 | 539.8 | \u00a0 | \u00a0 | \u00a0 | 492.2 | \u00a0 |
| Foodservice | \u00a0 | \u00a0 | 294.9 | \u00a0 | \u00a0 | \u00a0 | 282.8 | \u00a0 | \u00a0 | \u00a0 | 584.2 | \u00a0 | \u00a0 | \u00a0 | 557.7 | \u00a0 |
| Total net sales | \u00a0 | $ | 3,208.1 | \u00a0 | \u00a0 | $ | 3,312.9 | \u00a0 | \u00a0 | $ | 6,112.1 | \u00a0 | \u00a0 | $ | 6,217.2 | \u00a0 |
| Operating profit | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Grocery & Snacks | \u00a0 | $ | 279.2 | \u00a0 | \u00a0 | $ | 340.4 | \u00a0 | \u00a0 | $ | 537.9 | \u00a0 | \u00a0 | $ | 590.8 | \u00a0 |
| Refrigerated & Frozen | \u00a0 | \u00a0 | 220.2 | \u00a0 | \u00a0 | \u00a0 | 250.3 | \u00a0 | \u00a0 | \u00a0 | 419.4 | \u00a0 | \u00a0 | \u00a0 | 34.0 | \u00a0 |
| International | \u00a0 | \u00a0 | 5.9 | \u00a0 | \u00a0 | \u00a0 | 36.9 | \u00a0 | \u00a0 | \u00a0 | 29.6 | \u00a0 | \u00a0 | \u00a0 | 63.8 | \u00a0 |
| Foodservice | \u00a0 | \u00a0 | 38.0 | \u00a0 | \u00a0 | \u00a0 | 28.5 | \u00a0 | \u00a0 | \u00a0 | 82.1 | \u00a0 | \u00a0 | \u00a0 | 29.7 | \u00a0 |
| Total operating profit | \u00a0 | $ | 543.3 | \u00a0 | \u00a0 | $ | 656.1 | \u00a0 | \u00a0 | $ | 1,069.0 | \u00a0 | \u00a0 | $ | 718.3 | \u00a0 |
| Equity method investment earnings | \u00a0 | \u00a0 | 54.3 | \u00a0 | \u00a0 | \u00a0 | 49.3 | \u00a0 | \u00a0 | \u00a0 | 89.8 | \u00a0 | \u00a0 | \u00a0 | 98.5 | \u00a0 |
| General corporate expense | \u00a0 | \u00a0 | 94.8 | \u00a0 | \u00a0 | \u00a0 | 106.5 | \u00a0 | \u00a0 | \u00a0 | 131.5 | \u00a0 | \u00a0 | \u00a0 | 190.0 | \u00a0 |
| Pension and postretirement non-service expense (income) | \u00a0 | \u00a0 | 0.4 | \u00a0 | \u00a0 | \u00a0 | (6.1 | ) | \u00a0 | \u00a0 | 0.7 | \u00a0 | \u00a0 | \u00a0 | (12.2 | ) |
| Interest expense, net | \u00a0 | \u00a0 | 113.3 | \u00a0 | \u00a0 | \u00a0 | 100.3 | \u00a0 | \u00a0 | \u00a0 | 219.3 | \u00a0 | \u00a0 | \u00a0 | 197.4 | \u00a0 |
| Income tax expense | \u00a0 | \u00a0 | 102.9 | \u00a0 | \u00a0 | \u00a0 | 122.5 | \u00a0 | \u00a0 | \u00a0 | 201.2 | \u00a0 | \u00a0 | \u00a0 | 136.9 | \u00a0 |
| Net income | \u00a0 | $ | 286.2 | \u00a0 | \u00a0 | $ | 382.2 | \u00a0 | \u00a0 | $ | 606.1 | \u00a0 | \u00a0 | $ | 304.7 | \u00a0 |
| Less: Net income attributable to noncontrolling interests | \u00a0 | \u00a0 | \u2014 | \u00a0 | \u00a0 | \u00a0 | 0.3 | \u00a0 | \u00a0 | \u00a0 | 0.2 | \u00a0 | \u00a0 | \u00a0 | 0.3 | \u00a0 |
| Net income attributable to Conagra Brands, Inc. | \u00a0 | $ | 286.2 | \u00a0 | \u00a0 | $ | 381.9 | \u00a0 | \u00a0 | $ | 605.9 | \u00a0 | \u00a0 | $ | 304.4 | \u00a0 |
| \u00a0 | \u00a0 | Thirteen Weeks Ended | \u00a0 | \u00a0 | Twenty-Six Weeks Ended | \u00a0 | ||||||||||
| \u00a0 | \u00a0 | November 26, 2023 | \u00a0 | \u00a0 | November 27, 2022 | \u00a0 | \u00a0 | November 26, 2023 | \u00a0 | \u00a0 | November 27, 2022 | \u00a0 | ||||
| Frozen | \u00a0 | $ | 1,106.1 | \u00a0 | \u00a0 | $ | 1,157.5 | \u00a0 | \u00a0 | $ | 2,054.5 | \u00a0 | \u00a0 | $ | 2,165.9 | \u00a0 |
| Staples | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Other shelf-stable | \u00a0 | \u00a0 | 728.0 | \u00a0 | \u00a0 | \u00a0 | 758.4 | \u00a0 | \u00a0 | \u00a0 | 1,424.8 | \u00a0 | \u00a0 | \u00a0 | 1,448.5 | \u00a0 |
| Refrigerated | \u00a0 | \u00a0 | 232.4 | \u00a0 | \u00a0 | \u00a0 | 264.0 | \u00a0 | \u00a0 | \u00a0 | 435.6 | \u00a0 | \u00a0 | \u00a0 | 463.2 | \u00a0 |
| Snacks | \u00a0 | \u00a0 | 567.1 | \u00a0 | \u00a0 | \u00a0 | 591.5 | \u00a0 | \u00a0 | \u00a0 | 1,073.2 | \u00a0 | \u00a0 | \u00a0 | 1,089.7 | \u00a0 |
| Foodservice | \u00a0 | \u00a0 | 294.9 | \u00a0 | \u00a0 | \u00a0 | 282.8 | \u00a0 | \u00a0 | \u00a0 | 584.2 | \u00a0 | \u00a0 | \u00a0 | 557.7 | \u00a0 |
| International | \u00a0 | \u00a0 | 279.6 | \u00a0 | \u00a0 | \u00a0 | 258.7 | \u00a0 | \u00a0 | \u00a0 | 539.8 | \u00a0 | \u00a0 | \u00a0 | 492.2 | \u00a0 |
| Total net sales | \u00a0 | $ | 3,208.1 | \u00a0 | \u00a0 | $ | 3,312.9 | \u00a0 | \u00a0 | $ | 6,112.1 | \u00a0 | \u00a0 | $ | 6,217.2 | \u00a0 |
ITEM\u00a05. OTHER INFORMATION
\n\u00a0
\nTrading Arrangements
\n\u00a0
\nof the Company's directors or \"officers\" (as defined in Rule 16a-1(f) promulgated under the Securities Exchange Act of 1934, as amended) adopted, modified, or terminated a \u201cRule 10b5-1 trading arrangement\u201d or a \u201cnon-Rule 10b5-1 trading arrangement,\u201d as each term is defined in Item 408 of Regulation S-K, during the Company's fiscal quarter ended November 26, 2023.
\n\u00a0
\n \n \n "}]}]}}