General Mills (GIS) Annual Income Statement

Income Statement Summary

General Mills (GIS) annual income statement covering fiscal 2021 through 2026, as reported to the SEC.

General Mills reported net sales of $18.42B in fiscal 2026, down 5.4% from $19.49B in fiscal 2025.
Operating profit was $885.8M, down 73.2% from $3.3B. Operating margin was 4.8%.
Net earnings were -$87.6M, after a profit of $2.3B in fiscal 2025. Net margin was -0.48%.
Diluted earnings per share was -$0.16, after a profit of $4.10 in fiscal 2025.
Cost of sales took 66.4% of net sales and selling, general, and administrative expenses 18.4%.

Net sales have grown 0.33% a year on average since fiscal 2021, from $18.13B to $18.42B.

An income statement shows what a company sold and what it cost to run the business, ending with the profit left over.

Figures in USD millions, except per share data

						May'26	May'25	May'24	May'23	May'22	May'21
Net sales
18,424	19,486	19,857	20,094	18,992	18,127	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net sales						18,424	19,486	19,857	20,094	18,992	18,127	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Cost of sales
12,228	12,753	12,925	13,548	12,590	11,678	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Cost of sales						12,228	12,753	12,925	13,548	12,590	11,678	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Selling, general, and administrative expenses
3,388	3,445	3,259	3,500	3,147	3,079	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Selling, general, and administrative expenses						3,388	3,445	3,259	3,500	3,147	3,079	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Gain (Loss) on Disposition of Business
1,049	95	-	444	194	-53	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Gain (Loss) on Disposition of Business						1,049	95	-	444	194	-53	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Restructuring, transformation, impairment, and other exit costs
2,970	78	241	56	-26	170	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Restructuring, transformation, impairment, and other exit costs						2,970	78	241	56	-26	170	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Operating profit
885	3,304	3,431	3,433	3,475	3,144	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Operating profit						885	3,304	3,431	3,433	3,475	3,144	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Benefit plan non-service income
-58	-54	-75	-88	-113	-132	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Benefit plan non-service income						-58	-54	-75	-88	-113	-132	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Interest, net
-538	-524	-479	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Interest, net						-538	-524	-479	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Interest, net
-	-	-	382	379	420	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Interest, net						-	-	-	382	379	420	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Earnings before income taxes and after-tax earnings from joint ventures
405	2,835	3,028	3,140	3,209	2,857	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Earnings before income taxes and after-tax earnings from joint ventures						405	2,835	3,028	3,140	3,209	2,857	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Income taxes
414	573	594	612	586	629	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Income taxes						414	573	594	612	586	629	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
After-tax earnings from joint ventures
-76	57	84	81	111	117	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
After-tax earnings from joint ventures						-76	57	84	81	111	117	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net earnings, including earnings (loss) attributable to noncontrolling interests
-85	2,318	2,518	2,609	2,735	2,346	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net earnings, including earnings (loss) attributable to noncontrolling interests						-85	2,318	2,518	2,609	2,735	2,346	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net earnings (loss) attributable to noncontrolling interests
2	23	22	15	27	6	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net earnings (loss) attributable to noncontrolling interests						2	23	22	15	27	6	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net earnings attributable to General Mills
-87	2,295	2,496	2,593	2,707	2,339	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net earnings attributable to General Mills						-87	2,295	2,496	2,593	2,707	2,339	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Earnings per share – basic (usd per share)
-0.16	4.12	4.34	4.36	4.46	3.81	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Earnings per share – basic (usd per share)						-0.16	4.12	4.34	4.36	4.46	3.81	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Earnings per share – diluted (usd per share)
-0.16	4.10	4.31	4.31	4.42	3.78	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Earnings per share – diluted (usd per share)						-0.16	4.10	4.31	4.31	4.42	3.78	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Dividends per share (in usd per share)
2.44	2.40	2.36	2.16	2.04	2.02	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Dividends per share (in usd per share)						2.44	2.40	2.36	2.16	2.04	2.02	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx