|
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Millions
|
12 Months Ended |
|
May 29, 2011
|
May 30, 2010
|
May 31, 2009
|
| Cash Flows - Operating Activities |
 |
 |
 |
| Net earnings, including earnings attributable to noncontrolling interests |
$ 1,803.5 |
$ 1,535.0 |
$ 1,313.7 |
| Adjustments to reconcile net earnings to net cash provided by operating activities: |
 |
 |
 |
| Depreciation and amortization |
472.6 |
457.1 |
453.6 |
| After-tax earnings from joint ventures |
(96.4) |
(101.7) |
(91.9) |
| Stock-based compensation |
105.3 |
107.3 |
117.7 |
| Deferred income taxes |
205.3 |
22.3 |
215.8 |
| Tax benefit on exercised options |
(106.2) |
(114.0) |
(89.1) |
| Dividends received |
72.7 |
88.0 |
68.5 |
| Pension and other postretirement benefit plan contributions |
(220.8) |
(17.2) |
(220.3) |
| Pension and other postretirement benefit plan (income) expense |
73.6 |
(37.9) |
(27.5) |
| Divestiture (gain), net |
(17.4) |
0 |
(84.9) |
| Gain on insurance settlement |
0 |
0 |
(41.3) |
| Restructuring, impairment, and other exit costs (income) |
(1.3) |
23.4 |
31.3 |
| Changes in current assets and liabilities |
(720.9) |
143.4 |
176.9 |
| Other, net |
(43.2) |
75.5 |
5.7 |
| Net cash provided by operating activities |
1,526.8 |
2,181.2 |
1,828.2 |
| Cash Flows - Investing Activities |
 |
 |
 |
| Purchases of land, buildings, and equipment |
(648.8) |
(649.9) |
(562.6) |
| Acquisitions |
(123.3) |
0 |
0 |
| Investment in affilates, net |
(1.8) |
(130.7) |
5.9 |
| Proceeds from disposal of land, buildings, and equipment |
4.1 |
7.4 |
4.1 |
| Proceeds from divestiture of product lines |
34.4 |
0 |
244.7 |
| Proceeds from insurance settlement |
0 |
0 |
41.3 |
| Other, net |
20.3 |
52.0 |
(22.3) |
| Net cash used by investing activities |
(715.1) |
(721.2) |
(288.9) |
| Cash Flows - Financing Activities |
 |
 |
 |
| Change in notes payable |
(742.6) |
235.8 |
(1,390.5) |
| Issuance of long-term debt |
1,200.0 |
0 |
1,850.0 |
| Payment of long-term debt |
(7.4) |
(906.9) |
(370.3) |
| Proceeds from common stock issued on exercised options |
410.4 |
388.8 |
305.2 |
| Tax benefit on exercised options |
106.2 |
114.0 |
89.1 |
| Purchases of common stock for treasury |
(1,163.5) |
(691.8) |
(1,296.4) |
| Dividends paid |
(729.4) |
(643.7) |
(579.5) |
| Other, net |
(10.3) |
0 |
(12.1) |
| Net cash used by financing activities |
(936.6) |
(1,503.8) |
(1,404.5) |
| Effect of exchange rate changes on cash and cash equivalents |
71.3 |
(32.8) |
(46.0) |
| Increase (decrease) in cash and cash equivalents |
(53.6) |
(76.6) |
88.8 |
| Cash and cash equivalents - beginning of year |
673.2 |
749.8 |
661.0 |
| Cash and cash equivalents - end of year |
619.6 |
673.2 |
749.8 |
| Cash Flow from Changes in Current Assets and Liabilities |
 |
 |
 |
| Receivables |
(69.8) |
(121.1) |
81.8 |
| Inventories |
(240.0) |
(16.7) |
(28.1) |
| Prepaid expenses and other current assets |
(96.0) |
53.5 |
30.2 |
| Accounts payable |
109.0 |
69.6 |
(116.4) |
| Other current liabilities |
(424.1) |
158.1 |
209.4 |
| Changes in current assets and liabilities |
$ (720.9) |
$ 143.4 |
$ 176.9 |