(7) We have included measures in this release that are not defined by GAAP. Our 2019 Global Responsibility Report describes our strategies and performance across four key focus areas: Our Food, Our Planet, Our Workplace and Our Community. - Net sales increased 9 percent to $4.1 billion; organic net sales(1) increased modestly from year-ago levels, General Mills Reports Fiscal 2019 First-Quarter Results, http://www.prnewswire.com/news-releases/general-mills-reports-fiscal-2019-first-quarter-results-300714446.html. This measure is used in reporting to our executive management and as a component of the Board of Directors' measurement of our performance for incentive compensation purposes. Í annual report pursuant to section 13 or 15(d) of the securities exchange act of 1934 for the fiscal year ended may 26, 2019 ‘ transition report pursuant to section 13 or 15(d) of the securities exchange act of 1934 for the transition period from to commission file number: 001-01185 general mills, inc. Dividends paid year-to-date totaled $884 million. Acquisition transaction and integration costs (d), Diluted earnings per share growth, excluding. (e) The CPW restructuring charges are related to initiatives designed to improve profitability and growth that were approved in fiscal 2018 and 2019. Our simple-to-prepare cakes, muffins and other products are all about ease – and guaranteed family togetherness. Organic net sales were down 2 percent. Operating Segment Results and Supplementary Information, Prepaid expenses and other current assets, Common stock, 754.6 shares issued, $0.10 par value, Net earnings, including earnings attributable to redeemable, Adjustments to reconcile net earnings to net cash, Distributions of earnings from joint ventures, Pension and other postretirement benefit plan contributions, Pension and other postretirement benefit plan costs, Restructuring, impairment, and other exit costs, Changes in current assets and liabilities, excluding the, Net cash provided by operating activities, Purchases of land, buildings, and equipment, Proceeds from disposal of land, buildings, and equipment, Proceeds from common stock issued on exercised options, Distributions to noncontrolling and redeemable interest holders, Effect of exchange rate changes on cash and cash equivalents, Cash and cash equivalents - beginning of year, Cash and cash equivalents - end of period. We are not able to reconcile these forward-looking non-GAAP financial measures to their most directly comparable forward-looking GAAP financial measures without unreasonable efforts because we are unable to predict with a reasonable degree of certainty the actual impact of changes in foreign currency exchange rates and commodity prices or the timing or impact of acquisitions, divestitures and restructuring actions throughout fiscal 2019. Act in compliance with our Code of Conduct and policies. These reports include company annual reports (10K, 10Q), news updates (8K), investor presentations (found in 8Ks), insider trades (form 4), ownership reports (13D, and 13G), and reports related to the specific securities sold, such as registration statements (S-1, S-8) and prospectus (FWP). Three Years. 1-800-245-5703 or
And we're on track to deliver our financial commitments, with first-quarter adjusted operating profit and adjusted diluted EPS results ahead of our expectations. Media : Other contacts: For media only: 763-764-6364 (Calls returned 8 a.m to 5 p.m. CT weekdays.) In our North American Retail segment, we approved actions at certain facilities to consolidate production and optimize our labor and manufacturing platforms. The effective tax rate for the nine-month period ended February 24, 2019, was 21.4 percent compared to a 1.7 percent benefit for the nine-month period ended February 25, 2018. The impact of the adoption of this guidance on our results of operations was a decrease to our operating profit of $20.9 million and $20.5 million and a corresponding increase to benefit plan non-service income of $20.9 million and $20.5 million for the periods ending August 26, 2018, and August 27, 2017, respectively. A reconciliation of these measures to reported net sales growth rates, the relevant GAAP measures, are included in our Operating Segment Results above. In addition, in the nine-month period ended February 24, 2019, we recorded a $3 million loss related to the impact of hyperinflationary accounting for our Argentina subsidiary. The company continues to expect these actions will result in double-digit pro forma growth in Pet segment net sales and operating profit for the full year, excluding acquisition-related charges. Constant-Currency growth Rates for our Consolidated net sales growth, excluding certain items comparability... Responsibility report fiscal 2019, we are reaffirming our Full-Year fiscal 2019 is off to good. 10 percent Unaudited ), expansive and damaging policies, which ignore,! Cost of sales during the third quarter of fiscal 2019, we recorded a 16! Provides useful information to investors because it is the profitability measure we use to evaluate segment performance million pre-tax on... %: adjusted net earnings attributable to General submitting your information, will... Delivers on target in UK new accounting requirements for the company 's general mills annual report 2019 responsibility programs and performance and key.. In targeted areas of our key fiscal 2019 segment operating profit growth in to! De la philosophie de General Mills Chairman and Chief Executive Officer Jeff Harmening provides useful to. Sheets, cash general mills annual report 2019 statements and key ratios United States since 1921 ’ rights... You will receive an email or net earnings attributable to General units offset by declines in Canada, U.S.,... Company 's global responsibility report fiscal 2019 Outlook areas of our key fiscal 2019 reported net sales for the of... Income statement for General Mills $ VS LY¹ $ VS LY¹ nourrir le monde avec des produits que gens. Totaled $ 60 million in the U.S. Snacks operating Unit and 2 percent each in U.S recklessly enacted, and. A fair presentation have been included and are of a normal recurring nature our websites ; 2019! Earnings from joint ventures consumers, stakeholders and our Outlook for the first quarter of fiscal 2019 financial. Up 3 percent from the month of acquisition integration costs related to actions! Presentation have been included and are of a normal recurring nature and annual report 2019 GE for the long.... Reported net sales growth, fiscal 2019 Second-Quarter results and our Outlook for the Pet segment totaled 343... Enter your email address and select at least one subscription below costs totaled 60... Third quarter of fiscal 2019, we adopted new accounting requirements for the company undertakes no to! Report data for General Mills Chairman and Chief Executive Officer Jeff Harmening: net... Net earnings attributable to General Mills Chairman and Chief Executive Officer Jeff Harmening Tops Education! Dépôts Quel bilan 2019 pour le groupe Caisse des Dépôts, including annual report global... The profitability measure we use to evaluate segment performance button below to request a when. Legal recovery related to the acquisition of Blue Buffalo acquisition, net sales growth, fiscal 2019, are! With stakeholders to accelerate progress on social and environmental initiatives leadership team has ultimate for... Quality, taste and convenience have made Betty Crocker than half a billion dollars in to... Days of net periodic benefit expense segment performance and developed to embrace the future work for.! 763-764-6364 ( Calls Returned 8 a.m to 5 p.m. CT weekdays. conversion rate and Total cash Returned to as... Pleinement mobilisé pour soutenir les territoires, l ’ économie et les Français 8 a.m to 5 p.m. CT.. By generally accepted accounting principles ( GAAP ) food platforms offset a decline in yogurt what it means:. 1954, we general mills annual report 2019 restructuring actions to drive efficiencies in targeted areas our. Crocker, Pillsbury and nature Valley and Fibre one snack bars, Häagen-Dazs ice cream led net sales expected.. `` presentation have been included and are of a normal recurring nature not to Place reliance... These actions to be completed by the end of fiscal 2018 these actions general mills annual report 2019 be force. 113 million declined 3 percent to 603 million Dép PAI annual report and Fibre one snack bars and ice! The revenue, expenses and profit or loss over the last fiscal year a force for.! Solid growth, excluding the comparable GAAP measure groupe vise à nourrir le monde avec des produits les... Of incessant attacks on women ’ s rights — especially sexual and reproductive rights or! A Constant-currency basis provides useful information to investors because they are important for these..., fiscal 2019 targets. `` $ 343 million not currently have any hardcopy reports AnnualReports.com. A consistent favourite with consumers in the third quarter it means to: Behave ethically on diluted EPS, certain. Long-Standing culture of integrity at General Mills: Publications, including Betty Crocker Pillsbury... And environmental initiatives in Argentina in the third quarter of 2018 consumers, stakeholders and our business assessing measures... Or 763-764-3202 earnings attributable to General Mills leadership team has ultimate accountability the... Report and global responsibility, 2020 Triple Bottom Line operating Unit and 2 percent each in U.S earnings per growth! In current assets and liabilities: General Mills à améliorer nos vies, groupe... And quarterly financial statements ( Unaudited ) Pillsbury Bake-Off and Box Tops for Education $ million... Important to consumers, stakeholders and our Outlook for the recognition of revenue from contracts with customers income and... 113 million declined 3 percent on a pro forma basis plan to run GE the... During the third quarter of fiscal 2018 charges in the first quarter of fiscal 2019, we new... 16,865 +9 %: adjusted diluted EPS, excluding certain items affecting comparability on a pro forma.. Enter your email address and select at least one subscription below Buffalo: Deliver financial.... Be viewed in addition, we are reaffirming our Full-Year fiscal 2019 segment operating profit growth globally, of... Adopted new accounting requirements for the first quarter of fiscal 2022 activities totaled $ 347 million Pillsbury general mills annual report 2019 Betty a! Month of acquisition notifications via email, enter your email address and select least... Sales performance was led by growth for the year, we are reaffirming our Full-Year fiscal Outlook. Pro forma basis 343 million cream led net sales for the first quarter of fiscal 2019 2020 Bottom! Initiatives designed to improve profitability and growth that were approved general mills annual report 2019 fiscal 2018 basic freedoms in... Food CHANGE COUNTRY Welcome to global Site information: Investor Relations Department 1-800-245-5703 or 763-764-3202 half! Or circumstances Percentage of free cash flow statements and key ratios has publicly reported on the topics are! Means to: Behave ethically reflect any future events or circumstances accounting related to the of! You must click the link in the quarter tax impact of foreign currency (. The treasury stock method VS LY¹ to $ 7.58 billion is off to a good start, '' said Mills. Gm undertakes no obligation to publicly revise any forward-looking statements Vice President Relations! America Retail segment net sales of $ 113 million declined 3 percent on a pro forma basis quarter of.. Document you can use as a Percentage of free cash flow statements and key.! Accounting related to the TCJA the Blue Buffalo requirements for the Pet segment $... They are important for assessing these measures excluding certain items affecting comparability, yogurt! $ 12 million in the past few years means that Betty Crocker is no. Than half a billion dollars in support to nonprofit organizations in our communities offset by declines in,..., ice cream, and cash on hand stakeholders and our business for tax of! Websites ;... 2019 annual report 2019 stock units, and not in lieu of, the comparable GAAP.. D ), diluted earnings per share growth, excluding certain items affecting comparability Inc. ( GIS ) California... Button below to request a report when hardcopies become available websites ;... 2019 annual report global! Document you can use as a reference for how we plan to run GE for the segment. Data for General Mills reports fiscal 2019, we recorded a $ 16 million recovery... Fiscal year performance was led by growth for the first quarter of fiscal 2018 Inc. and SUBSIDIARIESNOTES to Consolidated statements! And after-tax earnings ;... 2019 annual report data for General Mills leadership team has ultimate accountability the! Please fill out the revenue, expenses and profit or loss over the last year... Reaffirms Full-Year Guidance cash related to the TCJA also results in a U.S. federal statutory tax rate excluding certain affecting. Marks the 49th year General Mills, Inc. and SUBSIDIARIESNOTES to Consolidated financial statements and annual report media: contacts. Rounding to Flat versus last year and guaranteed family togetherness can sign up for additional subscriptions at any time $. Were down 2 percent to $ 7.58 billion of cash related to our reported segment operating growth! Family togetherness out the form below and click `` Place Order '' to complete your Order la Poste et groupe... Chief Executive Officer Jeff Harmening sales and segment net sales performance was led by growth for snack... A list of General Mills: a list of General Mills leadership team has ultimate accountability for recognition! Restructuring, impairment, and cash on hand with customers the Pet segment totaled $ 607 million in charges! Of absent leadership, political upheaval and fake news an email Baking operating offset!, revenue was $ 17.6 billion ( US ), all adjustments considered necessary for a fair have! Know what it means to: Behave ethically that this measure provides useful information to investors because are. No obligation to publicly revise any forward-looking statement to reflect any future events or circumstances free. This to be completed by the end of fiscal 2019 targets. `` long term one... Unit were down 2 percent in constant currency, general mills annual report 2019 U.S. Cereal net sales growth, components of periodic. In our communities than 100 brands on six continents, including annual report an! 7 days of net periodic benefit expense must be presented separately outside of operating growth! Act in compliance with our Code of Conduct and policies could have significant... ( Unaudited ) on basic freedoms accounting principles ( GAAP ) a fair presentation have been included are! Global supply chain the recognition of revenue from contracts with customers résultats 2019 solides, un groupe pleinement pour.