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Foreign Translation Adjustment and Derivatives General Mills reported the following statement of comprehensive income in its fiscal 2019 Form 10-K. For 12 Months Ended ($

Foreign Translation Adjustment and Derivatives

General Mills reported the following statement of comprehensive income in its fiscal 2019 Form 10-K.

For 12 Months Ended ($ millions) May 26, 2019 May 27, 2018 May 28, 2017
Net earnings, including earnings attributable to redeemable and noncontrolling interests $1,786.2 $2,163.0 $1,701.1
Other comprehensive income (loss), net of tax:
Foreign currency translation (82.8) (37.0) 6.3
Net actuarial income (loss) (253.4) 140.1 197.9
Other fair value changes:
Securities - 1.2 0.8
Hedge derivatives 12.1 (50.8) 53.3
Reclassification to earnings:
Securities (2.0) (5.1) -
Hedge derivatives 0.9 17.4 (25.7)
Amortization of losses and prior service costs 84.6 117.6 122.5
Other comprehensive income (loss), net of tax (240.6) 183.4 355.1
Total comprehensive income 1,545.6 2,346.4 2,056.2
Comprehensive(loss) income attributable to redeemable and noncontrolling interests (10.7) 70.5 31.0
Comprehensive income attributable to General Mills $1,556.3 $2,275.9 $2,025.2

On average, did the $US weaken or strengthen vis--vis the currencies of the companies foreign subsidiaries?

-On average, the U.S. strengthened vis--vis the currencies of the companies' foreign subsidiaries.

-On average, the U.S. weakened vis--vis the currencies of the companies' foreign subsidiaries.

-Not enough information is provided to determine whether the $US dollar strengthened or weakened vis--vis the currencies of the companies foreign subsidiaries.

What was the cash portion of the foreign currency translation loss in fiscal year 2019? $Answer- million?

Comprehensive income for fiscal year ended May 26, 2019, includes a gain of $12.1 million related to hedge derivatives. Is this a fair value or a cash flow hedge? Answer- cash flow hedge / fair value hedge ?

From the list below, which items are examples of hedging transactions that General Mills might engage in? Using the drop-down menu to the right of each item, select Yes to indicate a hedging transaction or No to indicate it's not a hedging transaction.

Inventory purchases AnswerYes/No
Planned purchases of assets AnswerYes/No
Foreign debt repayments AnswerYes/No
Interest rates AnswerYes/No
Anticipated sales in foreign currencies AnswerYes/No
Interest payments on foreign debt AnswerYes/No

How did the cash flow hedges affect net income during the fiscal year ended May 26, 2019? Net income Answer - _____by $_____million due to cash flow hedges.

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