For 12 Months Ended ($ millions) Net earnings, including earnings attributable to redeemable and noncontrolling interests ... Other comprehensive income (loss), net of tax: Foreign currency translation.... Net actuarial (loss) income.. Other fair value changes: Securities .... Hedge derivatives ... Reclassification to earnings: Securities... Hedge derivatives May 26, 2019 May 27, 2018 May 28, 2017 $1,786.2 $2,163.0 $1,701.1 (82.8) (253.4) (37.0) 140.1 6.3 197.9 1.2 0.8 12.1 (50.8) 53.3 (2.0) (5.1) 0.9 17.4 (25.7) Amortization of losses and prior service costs... 84.6 117.6 122.5 Other comprehensive (loss) income, 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 $2,025.2
For 12 Months Ended ($ millions) Net earnings, including earnings attributable to redeemable and noncontrolling interests ... Other comprehensive income (loss), net of tax: Foreign currency translation.... Net actuarial (loss) income.. Other fair value changes: Securities .... Hedge derivatives ... Reclassification to earnings: Securities... Hedge derivatives May 26, 2019 May 27, 2018 May 28, 2017 $1,786.2 $2,163.0 $1,701.1 (82.8) (253.4) (37.0) 140.1 6.3 197.9 1.2 0.8 12.1 (50.8) 53.3 (2.0) (5.1) 0.9 17.4 (25.7) Amortization of losses and prior service costs... 84.6 117.6 122.5 Other comprehensive (loss) income, 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
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter13: Investments And Long-term Receivables
Section: Chapter Questions
Problem 14P: Investments in Equity Securities Noonan Corporation prepares quarterly financial statements and...
Related questions
Question
Comprehensive income for fiscal year ended May 26, 2019, includes a loss of $82.8 million related to foreign currency translation. Explain what this loss means.
On average, did the U.S. dollar weaken or strengthen vis-à-vis the currencies of the companies’ foreign subsidiaries?
What was the cash portion of the foreign currency translation loss in fiscal year 2019?
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
Provide four examples of hedging transactions General Mills might engage in.
How did the cash flow hedges affect net income during the fiscal year ended May 26, 2019?
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
Recommended textbooks for you
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
Fundamentals Of Financial Management, Concise Edi…
Finance
ISBN:
9781337902571
Author:
Eugene F. Brigham, Joel F. Houston
Publisher:
Cengage Learning
Financial Reporting, Financial Statement Analysis…
Finance
ISBN:
9781285190907
Author:
James M. Wahlen, Stephen P. Baginski, Mark Bradshaw
Publisher:
Cengage Learning
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
Fundamentals Of Financial Management, Concise Edi…
Finance
ISBN:
9781337902571
Author:
Eugene F. Brigham, Joel F. Houston
Publisher:
Cengage Learning
Financial Reporting, Financial Statement Analysis…
Finance
ISBN:
9781285190907
Author:
James M. Wahlen, Stephen P. Baginski, Mark Bradshaw
Publisher:
Cengage Learning