| May'19 | May'18 | May'17 | May'16 | May'15 | May'14 | May'13 | May'12 | May'11 | May'10 | May'09 | May'08 |
|---|---|---|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities: | |||||||||||
Net income | |||||||||||
678 | 811 | 648 | -665 | -240 | 315 | 786 | 474 | 819 | 611 | 979 | 930 |
Loss from discontinued operations, net of tax | |||||||||||
-1 | 14 | 102 | -794 | -692 | -310 | 87 | 6 | -11 | -19 | 363 | 439 |
Income from continuing operations | |||||||||||
680 | 797 | 546 | 128 | 451 | 625 | 698 | 467 | 830 | 630 | 615 | 491 |
Adjustments to reconcile net income to net cash flows from operating activities: | |||||||||||
Depreciation and amortization | |||||||||||
333 | 257 | 268 | 278 | 284 | 354 | 418 | 370 | 360 | 324 | 304 | 287 |
Gain on sale of businesses | |||||||||||
- | - | - | - | - | - | - | - | - | 14 | 19 | - |
Asset impairment charges | |||||||||||
93 | 14 | 343 | 62 | 36 | 118 | 20 | 8 | 19 | 64 | 5 | 8 |
Loss (gain) on divestiture | |||||||||||
69 | 0 | 197 | 0 | 0 | - | - | - | - | - | - | - |
Novation of a legacy guarantee | |||||||||||
27 | 0 | 0 | - | - | - | - | - | - | - | - | - |
Loss on sale of fixed assets | |||||||||||
- | - | - | - | - | -1 | -10 | -10 | - | - | - | - |
Impairment charges related to Garner accident | |||||||||||
- | - | - | - | - | - | - | - | - | -31 | - | - |
Insurance recoveries recognized related to Garner accident | |||||||||||
- | - | - | - | - | - | - | - | -109 | -58 | - | - |
Receipts from insurance carriers related to Garner accident | |||||||||||
- | - | - | - | - | - | - | - | -64 | -50 | - | - |
Loss on sale of fixed assets | |||||||||||
- | - | - | - | - | - | - | 58 | 0 | - | - | - |
Earnings of affiliates in excess of distributions | |||||||||||
20 | 34 | 3 | 25 | 0 | -13 | 11 | 17 | 13 | 8 | 17 | -21 |
Loss on retirement of debt | |||||||||||
- | - | - | - | - | - | - | - | - | - | 49 | - |
Stock-settled share-based payments expense | |||||||||||
33 | 37 | 36 | 41 | 33 | 44 | 67 | 41 | 44 | 55 | 45 | 60 |
Non-cash interest income on payment-in-kind notes | |||||||||||
- | - | - | - | - | - | - | - | - | 67 | 41 | - |
Receipt of interest on payment-in-kind notes earned in prior years | |||||||||||
- | - | - | - | - | - | - | - | 102 | 6 | - | - |
Gain on collection of payment-in-kind notes | |||||||||||
- | - | - | - | - | - | - | - | -25 | - | 3 | - |
Contributions to pension plans | |||||||||||
14 | 312 | 163 | 11 | 12 | 18 | 19 | 326 | 129 | 122 | 112 | 8 |
Pension benefit | |||||||||||
-22 | -56 | -21 | 358 | -15 | -0 | 23 | 421 | 54 | 227 | - | - |
Lease cancellation expense | |||||||||||
0 | -48 | 0 | -55 | 0 | 0 | - | - | - | - | - | - |
Gain (Loss) on Extinguishment of Debt | |||||||||||
-5 | 0 | -93 | -23 | -24 | 4 | - | - | - | - | - | - |
Significant litigation accruals | |||||||||||
-39 | 151 | 0 | 0 | - | - | - | - | - | - | - | - |
Proceeds from settlement of interest rate swaps | |||||||||||
-47 | 0 | 0 | - | - | - | - | - | 31 | - | - | - |
Other items | |||||||||||
12 | -34 | 34 | 53 | 24 | -19 | -9 | -5 | -36 | -25 | 12 | 65 |
Change in operating assets and liabilities excluding effects of business acquisitions and dispositions: | |||||||||||
Receivables | |||||||||||
69 | 4 | -104 | 156 | -68 | -50 | 52 | 4 | -2 | 90 | -74 | 67 |
Inventories | |||||||||||
-78 | 62 | -123 | -66 | 63 | -7 | -56 | -16 | 190 | -199 | 47 | 258 |
Deferred income taxes and income taxes payable, net | |||||||||||
-83 | -10 | -52 | 264 | -45 | -75 | -126 | 6 | -263 | - | - | - |
Prepaid expenses and other current assets | |||||||||||
19 | -3 | -15 | -10 | 19 | -0 | 13 | -5 | -7 | 20 | -170 | 136 |
Accounts payable | |||||||||||
38 | 144 | 71 | -118 | -15 | -3 | 18 | 82 | 185 | 73 | 17 | 23 |
Accrued payroll | |||||||||||
0 | -8 | -52 | 68 | 60 | -93 | 104 | 48 | -139 | 96 | -61 | -22 |
Other accrued liabilities | |||||||||||
-9 | -32 | -114 | 54 | -62 | -31 | -66 | -11 | 14 | 59 | -49 | -91 |
Net cash flows from operating activities — continuing operations | |||||||||||
1,114 | 919 | 1,135 | 625 | 839 | 1,120 | 1,370 | 1,044 | 1,340 | 1,430 | 979 | 329 |
Net cash flows from operating activities — discontinued operations | |||||||||||
11 | 34 | 34 | 633 | 664 | 448 | 41 | 7 | 12 | 42 | -855 | -236 |
Net cash flows from operating activities | |||||||||||
1,125 | 954 | 1,170 | 1,259 | 1,504 | 1,568 | 1,412 | 1,052 | 1,352 | 1,472 | 124 | 92 |
Cash flows from investing activities: | |||||||||||
Additions to property, plant and equipment | |||||||||||
353 | 251 | 242 | 277 | 236 | 461 | 422 | 335 | 466 | 482 | 428 | 429 |
Sale of property, plant and equipment | |||||||||||
22 | 8 | 13 | 35 | 0 | 40 | 18 | 9 | 18 | 88 | 17 | 29 |
Purchase of marketable securities | |||||||||||
61 | 0 | 0 | - | - | - | - | - | - | - | - | 1,351 |
Sale of marketable securities | |||||||||||
52 | 0 | 0 | - | - | - | - | - | - | - | - | 1,352 |
Purchase of businesses, net of cash acquired | |||||||||||
5,119 | 337 | 325 | 10 | 20 | 39 | 5,018 | 635 | 131 | 103 | 80 | 255 |
Purchase of leased warehouses | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | 39 |
Sale of leased warehouses | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | 35 |
Proceeds from divestitures, net of cash divested | |||||||||||
281 | 0 | 489 | 0 | 0 | - | - | - | - | 21 | 29 | - |
Purchase of intangible assets | |||||||||||
- | - | - | - | - | 0 | 4 | 62 | 18 | 3 | - | - |
Return of investment in equity method investee | |||||||||||
- | - | - | - | 391 | 0 | 0 | - | - | - | - | - |
Purchase of secured loan | |||||||||||
- | - | - | - | - | - | - | 39 | 0 | - | - | - |
Proceeds from collection of payment-in-kind notes | |||||||||||
- | - | - | - | - | - | - | - | 412 | 91 | - | - |
Other items | |||||||||||
-11 | -4 | -5 | -0 | 0 | 0 | 1 | 0 | 0 | - | -1 | -1 |
Receipts from insurance carriers related to Garner accident | |||||||||||
- | - | - | - | - | - | - | - | 18 | 34 | - | - |
Net cash flows from investing activities - continuing operations | |||||||||||
-5,166 | -576 | -60 | -251 | 134 | -461 | -5,429 | -1,063 | -165 | -352 | -459 | -655 |
Net cash flows from investing activities - discontinued operations | |||||||||||
0 | 0 | -123 | 2,379 | -175 | -70 | -36 | -1 | 254 | -3 | 2,251 | 12 |
Net cash flows from investing activities | |||||||||||
-5,166 | -576 | -184 | 2,127 | -41 | -531 | -5,465 | -1,064 | 88 | -355 | 1,791 | -643 |
Cash flows from financing activities: | |||||||||||
Net short-term borrowings (repayments) | |||||||||||
-277 | 249 | 14 | 9 | -137 | -43 | 145 | 40 | 0 | - | -578 | 576 |
Issuance of long-term debt | |||||||||||
8,310 | 800 | 0 | 0 | 550 | 0 | 6,217 | 0 | 0 | - | 1,030 | - |
Repayment of long-term debt | |||||||||||
3,972 | 242 | 1,064 | 2,523 | 1,491 | 569 | 2,074 | 363 | 294 | 15 | 1,015 | 85 |
Debt issuance costs and bridge financing fees | |||||||||||
95 | 3 | 0 | - | - | - | 56 | 0 | 0 | - | - | - |
Payment of intangible asset financing arrangement | |||||||||||
14 | 14 | 14 | 0 | 0 | - | - | - | - | - | - | - |
Issuance of Conagra Brands, Inc. common shares, net | |||||||||||
555 | 0 | 0 | 8 | 0 | 0 | 269 | 0 | 0 | - | - | - |
Repurchase of Conagra Brands, Inc. common shares | |||||||||||
0 | 967 | 1,000 | 0 | 50 | 100 | 245 | 352 | 825 | 100 | 900 | 188 |
Cash dividends paid | |||||||||||
356 | 342 | 415 | 432 | 425 | 420 | 400 | 388 | 374 | 346 | 348 | 362 |
Exercise of stock options and issuance of other stock awards, including tax withholdings | |||||||||||
1 | 14 | 73 | 208 | 129 | 103 | 274 | 213 | 59 | 54 | 6 | 37 |
Return of cash to minority interest holder | |||||||||||
- | - | - | - | - | - | - | - | - | - | 20 | - |
Other items | |||||||||||
0 | -1 | -1 | 0 | -2 | -4 | 3 | 1 | 2 | 3 | -1 | -0 |
Net cash flows from financing activities - continuing operations | |||||||||||
4,149 | -506 | -2,408 | -2,729 | -1,426 | -1,034 | 4,133 | -849 | -1,432 | -403 | -1,827 | -21 |
Net cash flows from financing activities - discontinued operations | |||||||||||
0 | 0 | 839 | -4 | -27 | -0 | 0 | 0 | -0 | -0 | 0 | -0 |
Net cash flows from financing activities | |||||||||||
4,149 | -506 | -1,569 | -2,733 | -1,454 | -1,034 | 4,133 | -849 | -1,432 | -404 | -1,827 | -21 |
Effect of exchange rate changes on cash and cash equivalents and restricted cash | |||||||||||
-0 | 5 | -0 | -2 | -8 | -3 | 1 | -7 | 10 | -2 | -16 | 9 |
Net change in cash and cash equivalents and restricted cash | |||||||||||
108 | -123 | -583 | 651 | 0 | -0 | 80 | -869 | 19 | 710 | 71 | -563 |