Adjustments to Current Assets
Adjustments to Total Assets
Adjustments to Current Liabilities
Adjustments to Total Liabilities
Adjustments to Stockholders’ Equity
Adjustments to Capitalization Table
Adjustments to Reported Income

General Mills Inc., adjusted current assets

US$ in thousands

	May 26, 2019	May 27, 2018	May 28, 2017	May 29, 2016	May 31, 2015	May 25, 2014
As Reported
Current assets	4,186,500)	4,123,700)	4,061,400)	3,937,200)	3,785,700)	4,393,500)
Adjustments
Add: Allowance for doubtful accounts	28,800)	28,400)	24,300)	29,600)	25,300)	21,000)
Add: Excess of FIFO over LIFO cost¹	213,500)	213,200)	209,100)	219,300)	214,200)	216,900)
Less: Current deferred tax assets²	—)	—)	—)	—)	100,100)	74,100)
After Adjustment
Adjusted current assets	4,428,800)	4,365,300)	4,294,800)	4,186,100)	3,925,100)	4,557,300)

Based on: 10-K (reporting date: 2019-05-26), 10-K (reporting date: 2018-05-27), 10-K (reporting date: 2017-05-28), 10-K (reporting date: 2016-05-29), 10-K (reporting date: 2015-05-31), 10-K (reporting date: 2014-05-25).

¹ Excess of FIFO over LIFO cost. See details »

² Current deferred tax assets. See details »

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General Mills Inc., adjusted total assets

US$ in thousands

	May 26, 2019	May 27, 2018	May 28, 2017	May 29, 2016	May 31, 2015	May 25, 2014
As Reported
Total assets	30,111,200)	30,624,000)	21,812,600)	21,712,300)	21,964,500)	23,145,700)
Adjustments
Add: Operating lease right-of-use asset (before adoption of FASB Topic 842)¹	437,340)	501,482)	452,610)	356,346)	357,828)	340,535)
Add: Allowance for doubtful accounts	28,800)	28,400)	24,300)	29,600)	25,300)	21,000)
Add: Excess of FIFO over LIFO cost²	213,500)	213,200)	209,100)	219,300)	214,200)	216,900)
Less: Current deferred tax assets³	—)	—)	—)	—)	100,100)	74,100)
After Adjustment
Adjusted total assets	30,790,840)	31,367,082)	22,498,610)	22,317,546)	22,461,728)	23,650,035)

Based on: 10-K (reporting date: 2019-05-26), 10-K (reporting date: 2018-05-27), 10-K (reporting date: 2017-05-28), 10-K (reporting date: 2016-05-29), 10-K (reporting date: 2015-05-31), 10-K (reporting date: 2014-05-25).

¹ Operating lease right-of-use asset (before adoption of FASB Topic 842). See details »

² Excess of FIFO over LIFO cost. See details »

³ Current deferred tax assets. See details »

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General Mills Inc., adjusted current liabilities

US$ in thousands

	May 26, 2019	May 27, 2018	May 28, 2017	May 29, 2016	May 31, 2015	May 25, 2014
As Reported
Current liabilities	7,087,100)	7,341,900)	5,330,800)	5,014,700)	4,890,100)	5,423,500)
Adjustments
Less: Current reserve for restructuring and other exit charges	36,500)	66,800)	85,000)	76,600)	120,800)	3,500)
After Adjustment
Adjusted current liabilities	7,050,600)	7,275,100)	5,245,800)	4,938,100)	4,769,300)	5,420,000)

Based on: 10-K (reporting date: 2019-05-26), 10-K (reporting date: 2018-05-27), 10-K (reporting date: 2017-05-28), 10-K (reporting date: 2016-05-29), 10-K (reporting date: 2015-05-31), 10-K (reporting date: 2014-05-25).

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General Mills Inc., adjusted total liabilities

US$ in thousands

	May 26, 2019	May 27, 2018	May 28, 2017	May 29, 2016	May 31, 2015	May 25, 2014
As Reported
Total liabilities	22,191,800)	23,355,400)	16,216,200)	15,559,600)	15,792,900)	15,156,200)
Adjustments
Add: Operating lease liability (before adoption of FASB Topic 842)¹	437,340)	501,482)	452,610)	356,346)	357,828)	340,535)
Less: Noncurrent deferred tax liabilities²	2,031,000)	2,003,800)	1,719,400)	1,399,600)	1,550,300)	1,666,000)
Less: Reserve for restructuring and other exit charges	36,500)	66,800)	85,000)	76,600)	120,800)	3,500)
After Adjustment
Adjusted total liabilities	20,561,640)	21,786,282)	14,864,410)	14,439,746)	14,479,628)	13,827,235)

Based on: 10-K (reporting date: 2019-05-26), 10-K (reporting date: 2018-05-27), 10-K (reporting date: 2017-05-28), 10-K (reporting date: 2016-05-29), 10-K (reporting date: 2015-05-31), 10-K (reporting date: 2014-05-25).

¹ Operating lease liability (before adoption of FASB Topic 842). See details »

² Noncurrent deferred tax liabilities. See details »

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General Mills Inc., adjusted stockholders’ equity

US$ in thousands

	May 26, 2019	May 27, 2018	May 28, 2017	May 29, 2016	May 31, 2015	May 25, 2014
As Reported
Stockholders’ equity	7,054,500)	6,141,100)	4,327,900)	4,930,200)	4,996,700)	6,534,800)
Adjustments
Less: Net deferred tax asset (liability)¹	(2,031,000)	(2,003,800)	(1,719,400)	(1,399,600)	(1,450,200)	(1,591,900)
Add: Allowance for doubtful accounts	28,800)	28,400)	24,300)	29,600)	25,300)	21,000)
Add: Excess of FIFO over LIFO cost²	213,500)	213,200)	209,100)	219,300)	214,200)	216,900)
Add: Reserve for restructuring and other exit charges	36,500)	66,800)	85,000)	76,600)	120,800)	3,500)
Add: Redeemable interest	551,700)	776,200)	910,900)	845,600)	778,900)	984,100)
Add: Noncontrolling interests	313,200)	351,300)	357,600)	376,900)	396,000)	470,600)
After Adjustment
Adjusted total equity	10,229,200)	9,580,800)	7,634,200)	7,877,800)	7,982,100)	9,822,800)

Based on: 10-K (reporting date: 2019-05-26), 10-K (reporting date: 2018-05-27), 10-K (reporting date: 2017-05-28), 10-K (reporting date: 2016-05-29), 10-K (reporting date: 2015-05-31), 10-K (reporting date: 2014-05-25).

¹ Net deferred tax asset (liability). See details »

² Excess of FIFO over LIFO cost. See details »

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General Mills Inc., adjusted capitalization table

US$ in thousands

	May 26, 2019	May 27, 2018	May 28, 2017	May 29, 2016	May 31, 2015	May 25, 2014
As Reported
Current portion of long-term debt	1,396,500)	1,600,100)	604,700)	1,103,400)	1,000,400)	1,250,600)
Notes payable	1,468,700)	1,549,800)	1,234,100)	269,800)	615,800)	1,111,700)
Long-term debt, excluding current portion	11,624,800)	12,668,700)	7,642,900)	7,057,700)	7,607,700)	6,423,500)
Total reported debt	14,490,000)	15,818,600)	9,481,700)	8,430,900)	9,223,900)	8,785,800)
Stockholders’ equity	7,054,500)	6,141,100)	4,327,900)	4,930,200)	4,996,700)	6,534,800)
Total reported capital	21,544,500)	21,959,700)	13,809,600)	13,361,100)	14,220,600)	15,320,600)
Adjustments to Debt
Add: Operating lease liability (before adoption of FASB Topic 842)¹	437,340)	501,482)	452,610)	356,346)	357,828)	340,535)
Adjusted total debt	14,927,340)	16,320,082)	9,934,310)	8,787,246)	9,581,728)	9,126,335)
Adjustments to Equity
Less: Net deferred tax asset (liability)²	(2,031,000)	(2,003,800)	(1,719,400)	(1,399,600)	(1,450,200)	(1,591,900)
Add: Allowance for doubtful accounts	28,800)	28,400)	24,300)	29,600)	25,300)	21,000)
Add: Excess of FIFO over LIFO cost³	213,500)	213,200)	209,100)	219,300)	214,200)	216,900)
Add: Reserve for restructuring and other exit charges	36,500)	66,800)	85,000)	76,600)	120,800)	3,500)
Add: Redeemable interest	551,700)	776,200)	910,900)	845,600)	778,900)	984,100)
Add: Noncontrolling interests	313,200)	351,300)	357,600)	376,900)	396,000)	470,600)
Adjusted total equity	10,229,200)	9,580,800)	7,634,200)	7,877,800)	7,982,100)	9,822,800)
After Adjustment
Adjusted total capital	25,156,540)	25,900,882)	17,568,510)	16,665,046)	17,563,828)	18,949,135)

Based on: 10-K (reporting date: 2019-05-26), 10-K (reporting date: 2018-05-27), 10-K (reporting date: 2017-05-28), 10-K (reporting date: 2016-05-29), 10-K (reporting date: 2015-05-31), 10-K (reporting date: 2014-05-25).

¹ Operating lease liability (before adoption of FASB Topic 842). See details »

² Net deferred tax asset (liability). See details »

³ Excess of FIFO over LIFO cost. See details »

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General Mills Inc., adjusted net earnings attributable to General Mills

US$ in thousands

12 months ended:	May 26, 2019	May 27, 2018	May 28, 2017	May 29, 2016	May 31, 2015	May 25, 2014
As Reported
Net earnings attributable to General Mills	1,752,700)	2,131,000)	1,657,500)	1,697,400)	1,221,300)	1,824,400)
Adjustments
Add: Deferred income tax expense (benefit)¹	96,000)	(504,300)	183,900)	120,600)	25,300)	172,500)
Add: Increase (decrease) in allowance for doubtful accounts	400)	4,100)	(5,300)	4,300)	4,300)	1,100)
Add: Increase (decrease) in LIFO reserve²	300)	4,100)	(10,200)	5,100)	(2,700)	(4,900)
Add: Increase (decrease) in reserve for restructuring and other exit charges	(30,300)	(18,200)	8,400)	(44,200)	117,300)	(16,000)
Add: Other comprehensive income (loss), net of tax	(240,600)	183,400)	355,100)	(299,400)	(1,201,400)	303,000)
Add: Comprehensive income (loss), net of tax, attributable to noncontrolling interest	(10,700)	70,500)	31,000)	41,500)	(192,900)	94,900)
After Adjustment
Adjusted net earnings, including earnings attributable to redeemable and noncontrolling interests	1,567,800)	1,870,600)	2,220,400)	1,525,300)	(28,800)	2,375,000)

Based on: 10-K (reporting date: 2019-05-26), 10-K (reporting date: 2018-05-27), 10-K (reporting date: 2017-05-28), 10-K (reporting date: 2016-05-29), 10-K (reporting date: 2015-05-31), 10-K (reporting date: 2014-05-25).

¹ Deferred income tax expense (benefit). See details »

² Increase (decrease) in LIFO reserve. See details »

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General Mills Inc. (NYSE:GIS)

Adjustments to Financial Statements

Adjustments to Current Assets

Adjustments to Total Assets

Adjustments to Current Liabilities

Adjustments to Total Liabilities

Adjustments to Stockholders’ Equity

Adjustments to Capitalization Table

Adjustments to Reported Income