Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Consolidated Statements of Operations - USD ($) $ in Millions 12 Months Ended May 29, 2016 May 31, 2015 May 25, 2014 Income Statement [Abstract]

Consolidated Statements of Operations - USD ($) $ in Millions

12 Months Ended

May 29, 2016

May 31, 2015

May 25, 2014

Income Statement [Abstract]

Net sales

$ 11,642.9

$ 11,937.0

$ 11,838.2

Costs and expenses:

Cost of goods sold

8,552.1

9,061.4

8,910.8

Selling, general and administrative expenses

2,209.4

1,545.3

1,778.9

Interest expense, net

297.8

330.0

377.5

Income from continuing operations before income taxes and equity method investment earnings

583.6

1,000.3

771.0

Income tax expense

225.4

362.1

178.3

Equity method investment earnings

137.8

122.1

32.5

Income from continuing operations

496.0

760.3

625.2

Income (loss) from discontinued operations, net of tax

(1,161.9)

(1,001.1)

(310.1)

Net income (loss)

(665.9)

(240.8)

315.1

Less: Net income attributable to noncontrolling interests

11.1

11.8

12.0

Net income (loss) attributable to ConAgra Foods, Inc.

$ (677.0)

$ (252.6)

$ 303.1

Earnings (loss) per share basic

Income (loss) from continuing operations attributable to ConAgra Foods, Inc. common stockholders (in dollars per share)

$ 1.11

$ 1.75

$ 1.45

Income from discontinued operations attributable to ConAgra Foods, Inc. common stockholders (in dollars per share)

(2.68)

(2.35)

(0.73)

Net income (loss) attributable to ConAgra Foods, Inc. common stockholders (in dollars per share)

(1.57)

(0.60)

0.72

Earnings (loss) per share diluted

Income (loss) from continuing operations attributable to ConAgra Foods, Inc. common stockholders (in dollars per share)

1.09

1.73

1.43

Income from discontinued operations attributable to ConAgra Foods, Inc. common stockholders (in dollars per share)

(2.65)

(2.32)

(0.73)

Net income (loss) attributable to ConAgra Foods, Inc. common stockholders (in dollars per share)

$ (1.56)

$ (0.59)

$ 0.70

Consolidated Balance Sheets - USD ($) $ in Millions

May 29, 2016

May 31, 2015

Current assets

Cash and cash equivalents

$ 834.5

$ 164.7

Receivables, less allowance for doubtful accounts of $3.7 and $3.8

836.6

739.0

Inventories

1,582.1

1,642.6

Prepaid expenses and other current assets

206.5

168.2

Current assets held for sale

117.0

848.8

Total current assets

3,576.7

3,563.3

Land and land improvements

208.1

194.2

Buildings, machinery and equipment

4,993.0

4,822.3

Furniture, fixtures, office equipment and other

801.8

807.4

Construction in progress

206.3

244.3

Property, plant and equipment

6,209.2

6,068.2

Less accumulated depreciation

(3,498.9)

(3,423.6)

Property, plant and equipment, net

2,710.3

2,644.6

Goodwill

4,533.8

4,544.6

Brands, trademarks and other intangibles, net

1,276.8

1,272.5

Other assets

1,067.2

926.8

Noncurrent assets held for sale

225.8

4,486.0

Total assets

13,390.6

17,437.8

Current liabilities

Notes payable

38.8

7.9

Current installments of long-term debt

571.4

1,007.8

Accounts payable

945.4

1,080.0

Accrued payroll

271.1

206.3

Other accrued liabilities

651.0

647.1

Current liabilities held for sale

54.7

361.0

Total current liabilities

2,532.4

3,310.1

Senior long-term debt, excluding current installments

4,721.9

6,692.9

Subordinated debt

195.9

195.9

Other noncurrent liabilities

2,144.1

1,915.9

Noncurrent liabilities held for sale

1.5

713.0

Total liabilities

9,595.8

12,827.8

Commitments and contingencies (Note 17)

Common stock of $5 par value, authorized 1,200,000,000 shares; issued 567,907,172

2,839.7

2,839.7

Additional paid-in capital

1,136.3

1,049.4

Retained earnings

3,218.3

4,331.1

Accumulated other comprehensive loss

(344.5)

(329.5)

Less treasury stock, at cost, 129,842,206 and 139,702,605 common shares

(3,136.2)

(3,364.7)

Total ConAgra Foods, Inc. common stockholders' equity

3,713.6

4,526.0

Noncontrolling interests

81.2

84.0

Total stockholders' equity

3,794.8

4,610.0

Total liabilities and stockholders' equity

$ 13,390.6

$ 17,437.8

FOR 2016

Account Receivable Turnover = Sales/ Avg Account Receivable, gross

Average collection period for A/R= account receivable, gross / avg daily sales

Current Ratio = Current assets / current liabilities

Debt to equity ratio= total Liabilities / total stockholders equity

Inventory turnover ratio = cost of goods sold/ average inventory

Average inventory days outstanding = inventory /avg daily cost of goods sold

Return on assets= net income/ avg assets

Return on equity = net income/ avg stockholders equity

Retun on investment = net income / avg invested assets

Return on net operating assets = net operating profit after tax/ avg net operating assets

Profit margin = net operating profit after taxes / sales

Asset turnover = sales/ avg net operating assets

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Audit Culture How Indicators And Rankings Are Reshaping The World

Authors: Cris Shore, Susan Wright

1st Edition

0745336450, 978-0745336459

More Books

Students also viewed these Accounting questions