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All the statements here are what I was given and include 2019. If needed, answer the question using only 2020 and 2021 data and disregard
All the statements here are what I was given and include 2019. If needed, answer the question using only 2020 and 2021 data and disregard 2019
Asset management ratios 2021 2020 Asset turnover days 365/(revenuel(average total assets)) = Receivable turnover days = 365/(net receivable sales/(average account receivables)) = Inventory turnover days 365 /(cost of goods sold/(average inventory)) 2021 2020 2019 1,300.9 841.8 S 678.4 (1.9) 680.3 1,300.9 841.8 387.7 95.5 (65.5) 68.7 388.9 259.9 2.2 1.0 333.0 93.8 (69.4) 5.5 (39.3) 47.5 (27.3) (20.8) 33.7 (14.7) (22.7) 12.3 (27.9) 63.9 (27.6) (38.3) 9.1 (21.8) 59.2 (17.5) 5.9 10.3 Change in 66.1 (364.3) (92.5) (8.5) 141.4 (14.3) (60.2) 33.9 1,468.1 (43.8) 163.5 23.1 (13.6) 234.4 15.9 (66.8) (69.1) 78.0 83.7 (19.1) 38.2 0.1 (9.4) 1,842.6 Cash flows from operating activities: Net income Loss from discontinued operations Income from continuing operations Adjustments to reconcile income from continuing operations to net cash flows from operating activities: Depreciation and amortization Asset impairment charges Loss (gain) on divestitures Loss on extinguishment of debt Significant litigation accruals Proceeds from the settlement of interest rate swaps Novation of a legacy guarantee Equity method investment earnings in excess of distributions Stock-settled share-based payments expense Contributions to pension plans Pension expense (benefit) Other items in operating assets and liabilities excluding effects of business acquisitions and dispositions: Receivables Inventories Deferred income taxes and income taxes payable, net Prepaid expenses and other current assets Accounts payable Accrued payroll Other accrued liabilities Deferred employer payroll taxes Net cash flows from operating activities - continuing operations Net cash flows from operating activities - discontinued operations Net cash flows from operating activities Cash flows from investing activities: Additions to property, plant and equipment Sale of property, plant and equipment Purchase of business, net of cash acquired Proceeds from divestitures, net of cash divested Purchase of marketable securities Sales of marketable securities Other items Net cash flows from investing activities Cash flows from financing activities: Issuances of commercial paper, maturities greater than 90 days Repayments of commercial paper, maturities greater than 90 days Net issuances (repayments) of other short-term borrowings Issuance of long-term debt Repayment of long-term debt Debt issuance costs and bridge financing fees Payment of intangible asset financing arrangement Issuance of nc. common shares, net Repurchased Inc. common shares Cash dividends paid Exercise of stock options and issuance of other stock awards, including tax withholdings Other items Net cash flows from financing activities Effect of exchange rate changes on cash and cash equivalents and restricted cash Net change in cash and cash equivalents and restricted cash Cash and cash equivalents and restricted cash at beginning of year Cash and cash equivalents and restricted cash at end of year 1,1143 11.2 1,125.5 1,468.1 1.842.6 (506.4) 2.5 (369.5) 14.0 (353.1) 22.5 (5.119.2) 2815 160.9 (11.8) 14.5 194.6 (46.8) 53.8 0.1 (153.8) (61.0) 52.2 11.1 (5,166.0) (340.3) 0.1 298,6 (298.6) 706.3 988.2 (2,514,5) (6.2) (12.9) (947.5) (277.3) 8,310.5 (3,972.7) (95.2) (14.0) 555.7 (13.6) (356.2) (1.6) 0.6 (298.1) (474.6) (0.1) 2.3 (1.609.6) 7.7 (474.1) 5543 80.2 (413.6) 4.8 (0.6) (1.370.4) (1.7) 316.7 237.6 5543 4.149.8 (0.7) 108.6 129.0 237.6 Additional Other Common Common Paid-in Retained Comprehensive Treasury Noncontrolling Total Shares Stock Capital Earnings Income (Loss) Stock Interests Equity 567.9 $ 2,839.7 $ 1,180.0 $ 4,744.9 $ (110.5) S (4,977.9) $ 80.4 $ 3,756.6 (6.7) 0.1 39.6 0.1 33.1 0.6 (0.6) 0.5 0.5 2.1 (1.9) 0.2 638.2 2,178.1 2,816.3 16.3 81.5 474.2 555.7 32.7 32.7 0.3 0.5 0.8 (34.0) (34.0) (376.5) (376.5) 584.2 2,921.2 678.3 5,047.9 (2.9) (110.3) 2.286.0 37.2 79.1 (2,760.2) 30.3 678.3 7,463.7 64.6 (41.3) (7.7) (6.5) (34.8) (7.7) Balance at May 27, 2018 Stock option and incentive plans Adoption of ASU 2016-01 Adoption of ASU 2014-09 Currency translation adjustments Issuance of treasury shares Issuance of common stock Derivative adjustments Activities of noncontrolling interests Pension and postretirement healthcare benefits Dividends declared on common stock; $0.85 per share Net income attributable to Inc. Balance at May 26, 2019 Stock option and incentive plans Currency translation adjustments Derivative adjustments Activities of noncontrolling interests Pension and postretirement healthcare benefits Dividends declared on common stock; $0.85 per share Net income attributable to Inc. Balance at May 31, 2020 Stock option and incentive plans Adoption of ASU 2016-13 Currency translation adjustments Repurchase of common shares Derivative adjustments Activities of noncontrolling interests Pension and postretirement healthcare benefits Dividends declared on common stock; $1.0375 per share Net income attributable to Inc Balance at May 30, 2021 2.0 2.0 43.2 43.2 (413.9) (413.9) 584.2 2,921.2 (109.6) 2.323.2 18.9 840.1 5,471.2 (3.1) (1.1) (2,729.9) 48.1 74.6 0.2 840.1 7,950.7 64.1 (1.1) 51.8 (298.1) (2.0) 48.6 3.2 (298.1) (2.0) 1.6 1.6 68.8 68.8 (503.2) (503.2) 1,298.8 6,262.6 1,298.8 8,631.4 584.2 $ 2,921.2 S 2,342.1 5.8 (2.979.9) 79.6 S The accompanying Notes are an integral part of the consolidated financial statements. May 30, 2021 May 31, 2020 $ S 79.2 793.9 1,734.0 95.0 ASSETS Current assets Cash and cash equivalents Receivables, less allowance for doubtful accounts of $3.2 and $2.6 Inventories Prepaid expenses and other current assets Current assets held for sale Total current assets Property, plant and equipment Land and land improvements Buildings, machinery and equipment Furniture, fixtures, office equipment and other Construction in progress 553.3 860.8 1,364.8 93.9 13.1 2,885.9 2,702.1 Less accumulated depreciation Property, plant and equipment, net Goodwill Brands, trademarks and other intangibles, net Other assets Noncurrent assets held for sale 156.5 4,492.7 674.4 301.1 5,624.7 (3,016.2) 2,608.5 11,373.5 4,157.6 1,349.3 4.6 22,195.6 139.2 4,088.6 656.2 243.8 5,127.8 (2,762.4) 2,365.4 11,361.5 4,302.4 1,273.4 115.4 22,304.0 $ $ 707.4 23.1 1,655.9 175.2 744.6 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Notes payable Current installments of long-term debt Accounts payable Accrued payroll Other accrued liabilities Current liabilities held for sale Total current liabilities Senior long-term debt, excluding current installments Other noncurrent liabilities Total liabilities Commitments and contingencies (Note 16) Common stockholders' equity Common stock of $5 par value, authorized 1,200,000,000 shares; issued 584,219,229 Additional paid-in capital Retained earnings Accumulated other comprehensive income (loss) Less treasury stock, cost, 103,934,839 and 97,057,311 common shares Total Inc. common stockholders' equity Noncontrolling interests Total stockholders' equity 1.1 845.5 1,507.1 189.4 725.8 18.5 3,287.4 8,900.8 2,165.1 14,353.3 3,306.2 8,275.2 1,982.8 13,564.2 2,921.2 2,342.1 6,262.6 5.8 (2,979.9) 8,551.8 79.6 8,631.4 22,195.6 2,921.2 2,323.2 5,471.2 (109.6) 2,72 7,876.1 74.6 7,950.7 22,304.0 The accompanying Notes are an integral part of the consolidated financial statements. For the Fiscal Years Ended May 2021 2020 11,184.7 $ 11,054.4 S 2019 9,538.4 8,005.5 1,403.0 (54.5) 420.4 7,984.8 1,622.5 (9.9) 487.1 6,885.4 1,473.4 (35.1) 391.4 1,410.3 193.8 84.4 1,300.9 969.9 201.3 73.2 841.8 823.3 218.8 75.8 680.3 (1.9) 678.4 0.1 678.3 $ $ $ Net sales Costs and expenses: Cost of goods sold Selling, general and administrative expenses Pension and postretirement non-service income Interest expense, net Income from continuing operations before income taxes and equity method investment earnings Income tax expense Equity method investment earnings Income from continuing operations Loss from discontinued operations, net of tax Net income Less: Net income attributable to noncontrolling interests Net income attributable to Earnings per share basic Income from continuing operations attributable to Inc. common stockholders Income from discont operations attributable to Inc. common stockholders Net income attributable common stockholders Earnings per share-diluted Income from continuing operations attributable to Inc. common stockholders Loss from discontinued operations attributable to Inc. common stockholders Net income attributable to Inc. common stockholders 1,300.9 2.1 1,298.8 841.8 1.7 840.1 $ $ $ $ 2.67 $ 1.72 $ 1.53 $ 2.67 $ 1.72 $ 1.53 $ 2.66 $ 1.72 $ 1.53 (0.01) $ 2.66 $ 1.72 $ 1.52 The accompanying Notes are an integral part of the consolidated financial statementsStep by Step Solution
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