Our segments’ operating profit growth rates on a constant-currency basis are calculated as follows: Percentage Change in Organic net sales were down 3 percent, driven by retailer inventory reductions in Brazil, distribution network changes in India, and lower volumes in China. The upcoming earnings date is derived from an algorithm based on a company's historical reporting dates. Convenience Stores & Foodservice Segment GENERAL MILLS, INC. AND SUBSIDIARIES (Unaudited) (In Millions, Except per Share Data) Quarter Ended Aug. 30, 2020 Aug. 25, 2019. under this Plan retroactively, nunc pro tunc, and any and all claims under or interests in this Plan B shall be immediately forfeited. (4) Basic and diluted earnings per share (EPS) were calculated as follows: Average number of common shares - basic EPS, Restricted stock, restricted stock units, and other, Average number of common shares - diluted EPS. In the opinion of management, all adjustments considered necessary for a fair presentation have been included and are of a normal recurring nature. Quarterly Report 2020 Q2 Capital Planning & Development Facilities Planning & Management 30 North Mills St. | Madison, WI 53715 | (608) 263-3000 | cpd.fpm.wisc.edu | Page 5 Lathrop Drive Bascom Hill Utility Phase 1 & 2 Start Construction $ 32,656,000 12/2021 Limnology Lift Station & Fm This document sets forth the Separation Pay and Benefits Program for Officers (the 'Program') of General Mills, Inc. (the 'Company'). GIS General Mills 10-Q 2020 2021 Q1 Quarterly report. Operating Profit as Changes will be effective when notice of such change is posted. General Mills Quarterly Dividend Declared Business Wire MINNEAPOLIS -- November 18, 2019 The General Mills Board of Directors today declared a quarterly dividend at … Introduction. Any act, or failure to act, based upon authority (A) given pursuant to a resolution duly adopted by the Board, or if the Company is not the ultimate parent corporation of the Company and its Affiliates and is not publicly traded, the board of directors of the ultimate parent of the Company (the 'Applicable Board'), (B) except with respect to an act or failure to act of the Chief Executive Officer, upon the instructions of the Chief Executive Officer of the Company or a senior officer of the Company who is senior to. Press Release reported 6 hours ago that General Mills Quarterly Dividend Declared. Washington, … Global Growth Framework • F20 … (a) Net sales less cost of sales. General Mills (NYSE: GIS): ¹ Please see Note 6 to the Consolidated Financial Statements below for reconciliation of this and other non-GAAP measures used in this release. General Mills, Inc. (NYSE:GIS) posted its earnings results on Wednesday, March, 20th. (a) See Note 6 for a reconciliation of these measures not defined by generally accepted accounting principles (GAAP). Note: Tables may not foot due to rounding. The company reported $1.06 EPS for the quarter, beating the Zacks’ consensus estimate of $0.97 by $0.09, MarketWatch Earnings reports. Net sales growth rates for our Canada operating unit on a constant-currency basis are calculated as follows: Percentage Change in First-quarter net sales for the Asia & Latin America segment declined 10 percent to $360 million, driven by a 5-point headwind from divestitures executed in fiscal 2019, lower volume, and unfavorable foreign currency exchange, partially offset by benefits from net price realization and mix. Segment operating profit as a % of net sales: Prepaid expenses and other current assets, Common stock, 754.6 shares issued, $0.10 par value, Common stock in treasury, at cost, shares of 150.5, 158.5 and 152.7, Net earnings, including earnings attributable to redeemable, Adjustments to reconcile net earnings to net cash, Distributions of earnings from joint ventures, Pension and other postretirement benefit plan contributions, Pension and other postretirement benefit plan costs, Changes in current assets and liabilities, Net cash provided by operating activities, Purchases of land, buildings, and equipment, Proceeds from disposal of land, buildings, and equipment, Proceeds from common stock issued on exercised options, Distributions to noncontrolling and redeemable interest holders, Effect of exchange rate changes on cash and cash equivalents, Cash and cash equivalents - beginning of year, Cash and cash equivalents - end of period. This measure is used in reporting to our Board of Directors and executive management and as a component of the Board of Directors’ measurement of our performance for incentive compensation purposes. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS View source version on businesswire.com: General Mills main: 763-764-7600 : Ask us about our food In addition, we recorded $6 million of restructuring charges in cost of sales during the first quarter of fiscal 2020. The adjusted effective tax rate was 20.9 percent compared to 22.7 percent a year ago. We adopted this guidance utilizing the cumulative effect adjustment approach, which required application of the guidance at the adoption date and elected certain practical expedients permitted under the transition guidance, including not reassessing whether existing contracts contain leases and carrying forward the historical classification of those leases. Security and Exchange Commission Form 10-Q Filing for GENERAL MILLS INC Quarterly report [Sections 13 or 15(d)] From It operates through the following segments: North America Retail; Convenience Stores and Foodservice; Europe and Australia; and Asia and Latin America; and Pet. However, each of Part A and Part B, as subplans of the Program, constitute independent employee benefit plans and shall be treated for purposes of the Employee Retirement Income Security Act of 1974, as amended ('ERISA'), as distinct plans. General Mills, Inc. is estimated to report earnings on 03/17/2021. In particular, the requirements of Sections 4.1 and 4.2 must be satisfied by Non-U.S. The reconciliation of our GAAP measure, diluted EPS, to adjusted diluted EPS and the related constant-currency growth rate follows: Adjusted diluted earnings per share growth, on a constant-currency basis. (d) If, for any reason, the Offset is not possible, or if any non-U.S. laws or any individual or collective agreement would require the Company to pay or provide benefits or coverages greater than an amount otherwise due under this Plan B, or if any non-U.S. laws, or any individual or collective agreement would prevent any Non-U.S. Change of Control Participant from effectively and completely releasing the Company from all claims, then the employee in question shall become ineligible for any payments or benefits. However, in no case shall the Company pay any amounts, or provide any benefits, which are related in any manner to a Change of Control Participant's separation of employment from the Company, greater than the amounts or in addition to the benefits or coverages, otherwise provided for under this Plan B. Vice President Investor Relations 1-800-245-5703 or Get the hottest stocks to trade every day before the market opens 100% free. For the last reported quarter, it was expected that General Mills would post earnings of $1.06 per share when it actually produced earnings of $1.10, delivering a surprise of +3.77%. Our fiscal 2020 outlook for organic net sales growth also excludes the effect of a 53rd week, acquisitions, and divestitures. GIS General Mills 10-Q 2020 2021 Q1 Quarterly report. (e) The provisions of this Section are in addition to the other terms and conditions of this Plan B. General Mills Reports Fiscal 2020 First-Quarter Results, Adjusted Diluted EPS and Related Constant-currency Growth Rate, Constant-currency Segment Operating Profit Growth Rates, Net Sales Growth Rates for Canada Operating Unit on a Constant-currency Basis, Adjusted Earnings Comparisons as a Percent of Net Sales, Adjusted Operating Profit Growth on a Constant-currency Basis, https://www.businesswire.com/news/home/20190918005448/en/. General Mills (NYSE: GIS) and its predecessor company have paid dividends without interruption for 121 years. General Mills had a net margin of 12.78% and a return on equity of 28.46%. Operating Segment Results We are not able to reconcile these forward-looking non-GAAP financial measures to their most directly comparable forward-looking GAAP financial measures without unreasonable efforts because we are unable to predict with a reasonable degree of certainty the actual impact of changes in foreign currency exchange rates and commodity prices or the timing of acquisitions, divestitures and restructuring actions throughout fiscal 2020. 18 Dec 19 Files SEC. SECURITIES AND EXCHANGE COMMISSION. Restructuring, impairment, and other exit costs totaled $8 million in the quarter compared to a $1 million net recovery a year ago. General Mills Inc. - Get Report posted stronger-than-expected second quarter earnings Wednesday, and re-affirmed its full-year profit guidance, as … It has been about a month since the last earnings report for General Mills (GIS). General Mills Inc 's Quarterly Income Statement, GIS as of Nov 29 2020 - CSIMarket The company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.09, MarketWatch Earnings reports. General Mills Inc. published this content on 18 March 2020 and is solely responsible for the information contained therein. Adjusted Effective Income Tax Rate (3) Unallocated corporate expense totaled $99 million in the first quarter of fiscal 2020 compared to $106 million in the same period in fiscal 2019. Asia & Latin America Segment (f) See reconciliation of effective income tax rate excluding certain items affecting comparability below for tax impact of adjustment. (c) Any amounts due to a Non-U.S. Shares have lost about 5.8% in that time frame, underperforming the S&P 500. You can sign up for additional subscriptions at any time. (Unaudited). General Mills, Inc. (NYSE: GIS) plans to report results for its fiscal 2021 first quarter on September 23, 2020. The company reported $1.00 EPS for the quarter, beating the consensus estimate of $0.87 by $0.13. We provide organic net sales growth rates for our consolidated net sales and segment net sales. General Mills (GIS) is set to report its second quarter fiscal 2020 results before the market opens on Wednesday, December 18. Diff. The 10.9 percentage point decrease was primarily due to a $53 million net benefit related to a reorganization of certain wholly owned subsidiaries and certain international discrete tax benefits in fiscal 2020. The current quarterly dividend rate represents a 4 percent increase from the $0.49 per share rate paid a year ago. SECURITIES AND EXCHANGE … Our adjusted operating profit growth on a constant-currency basis is calculated as follows: Adjusted operating profit growth, on a constant-currency basis. General Mills Inc (GIS) Q2 2021 Earnings Call Transcript GIS earnings call for the period ending November 29, 2020. The company reported $0.83 earnings per share (EPS) for the quarter, beating the Thomson Reuters' consensus estimate of $0.69 by $0.14. GIS General Mills 10-Q 2019 2020 Q2 Quarterly report. Net Sales Growth Rates for Canada Operating Unit on a Constant-currency Basis WASHINGTON (dpa-AFX) - General Mills (GIS) reported a profit for the second quarter that increased about 19 percent from last year, reflecting higher operating profit, lower net interest expense The company had revenue of $4.36 billion during the quarter, compared to analysts’ expectations of $4.21 billion. The Program supersedes any severance plans, policies and/or practices with respect to Participants (as defined in Plan A) and Change of Control Participants (as defined in Plan B). General Mills, Inc. (GIS) latest earnings report: revenue, EPS, surprise, history, news and analysis. MINNEAPOLIS, Minnesota - The General Mills Board of Directors today declared a quarterly dividend at the prevailing rate of $0.49 per share, payable February 3, 2020, to shareholders of record as of January 10, 2020. For fiscal 2020, we currently expect: foreign currency exchange rates (based on a blend of forward and forecasted rates and hedge positions), acquisitions, divestitures, and a 53rd week to increase net sales growth by approximately 1 percentage point; foreign currency exchange rates to have an immaterial impact on adjusted operating profit and adjusted diluted EPS growth; and restructuring charges and project-related costs related to actions previously announced to total approximately $49 million. First-quarter retail sales were flat in U.S. Nielsen-measured outlets. Participants may have individual or collective employment agreements that contain applicable employment separation provisions. 41-0274440 (State or other jurisdiction of (I.R.S. Adjusted Diluted EPS and Related Constant-currency Growth Rate GENERAL MILLS, INC. AND SUBSIDIARIES (Unaudited) (In Millions, Except per Share Data) Quarter Ended . 17 Dec 20. Consolidated Statements of Earnings and Supplementary Information, (Unaudited) (In Millions, Except per Share Data), Selling, general, and administrative expenses, Restructuring, impairment, and other exit costs, Earnings before income taxes and after-tax, Net earnings, including earnings attributable, to redeemable and noncontrolling interests, Net earnings attributable to General Mills, Comparisons as a % of net sales excluding. (e) The provisions of this Section are in addition to the other terms and conditions of the Plan. Earnings Per Share: Revenues: $ 1.11 $ 4,719 Mill $+0.16 +16.84 % $+299M +6.75 %: General Mills Inc 's Revenue rose by 6.75 % in II. You can access the webcast at www.generalmills.com/investors. In the first quarter of fiscal 2020, we adopted new requirements for the accounting, presentation and classification of leases. General Mills, Inc. GIS is scheduled to report fourth-quarter fiscal 2020 results on Jul 1. Constant-currency Segment Operating Profit Growth Rates General Mills, Inc. (GIS) latest earnings report: revenue, EPS, surprise, history, news and analysis. Pet parent takeaway accelerated in the quarter, with all-channel retail sales up low double digits. As of August 25, 2019, we reported right of use assets net of accumulated amortization in other assets of $409 million, current lease liabilities in other current liabilities of $103 million, and non-current lease liabilities in other liabilities of $318 million on our Consolidated Balance Sheet. Certain measures in this release are presented excluding the impact of foreign currency exchange (constant-currency). Quarter. This measure is used in reporting to our Board of Directors and executive management and as a component of the measurement of our performance for incentive compensation purposes. (b) The Company's intent is to provide Non-U.S. Change of Control Participants the same levels and amounts of benefits as other Change of Control Participants, but not more than other Change of Control Participants would be entitled to under the Plan. Compete, Accelerate, Reshape . The Company reserves the right to amend or terminate this Plan A by action of the Committee in accordance with the amendment and termination provisions set forth below. Adjusted Operating Profit Growth on a Constant-currency Basis JUNE 26, 2019 • Met or Exceeded F19 Targets for Sales, Profit, EPS, Cash, and Blue Buffalo • Continuing to Pursue Consumer First Strategy and . 10-Q. Adjusted effective income tax rates are calculated as follows: Impact of income tax adjustments on adjusted diluted EPS. For purposes of calculating Total Payments, (i) no portion of the Total Payments the receipt or enjoyment of which the Change of Control Participant shall have effectively waived in writing prior to the date of payment shall be taken into account; (ii) no portion of the Total Payments shall be taken into account which, in the opinion of tax counsel selected by the Company and acceptable to the Change of Control Participant, does not constitute a 'parachute payment' within the meaning of Section 280G(b)(2) of the Code; and (iii) the value of any other non-cash benefit or of any deferred cash payment included in the Total Payments shall be determined by the Company's independent auditors in accordance with the principles of Sections 280G(d)(3) and (4) of the Code. General Mills, Inc. (NYSE:GIS) announced a quarterly dividend on Monday, January 25th, RTT News reports. General Mills' quarterly profit beat Wall Street expectations on Wednesday as the Cheerios maker benefited from higher demand for its pet foods, sending its shares up … Capital investments totaled $70 million compared to $113 million a year ago. The business had revenue of $4.72 billion for the quarter, compared … Aug. 30, 2020 . Note: Table may not foot due to rounding. Shares of General Mills () - Get Report dropped more than 6% on Wednesday, even as the company served up strong fiscal fourth-quarter earnings primarily driven by … Top 3 Takeaways From General Mills Quarterly Earnings Report. Dividends paid totaled $298 million. For purposes of this Section 4.2(a) of this Plan B, (x) a Change of Control Participant's ability to terminate employment for Good Reason shall be conditioned on the Change of Control Participant providing notice of the event or action giving rise to the right to terminate for Good Reason within 30 days of becoming aware of such event or action and the Company's failing to cure such event or action, if curable, within 30 days of receipt of such notice, (y) any good faith determination of 'Good Reason' made by the Change of Control Participant shall be conclusive, and (z) a Change of Control Participant's mental or physical incapacity following the occurrence of an event described above in clauses (A) through (F) of Section 4.2(a)(ii) shall not affect such Change of Control Participant's ability to terminate employment for Good Reason. Slower growth. R QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) ... GENERAL MILLS, INC. (Exact name of registrant as specified in its charter) Delaware. General Mills, Inc. GIS released robust second-quarter fiscal 2021 results, with the top and the bottom line increasing year over year. The company’s stock price has collected 2.95% of gains in the last five trading sessions. For purposes of description and example and not limitation, such offsetting amounts may be claims for severance pay, notice, notice pay, redundancy pay, redundancy notice, severance indemnity, end-of-service payments, wrongful or unfair dismissal awards/claims, discriminatory termination awards/claims, retaliatory termination ('victimization'), or other employment termination awards/claims. Image source: Getty Images. d852246d10q.htm 10-Q Zoom In Zoom Out. After submitting your information, you will receive an email. The business earned $4.20 billion during the quarter, compared to analyst estimates of $4.21 billion. General Mills, Inc. engages in the manufacture and marketing of branded consumer foods sold through retail stores. We believe that this measure of our Canada operating unit net sales provides useful information to investors because it provides transparency to the underlying performance for the Canada operating unit within our North America Retail segment by excluding the effect that foreign currency exchange rate fluctuations have on year-to-year comparability given volatility in foreign currency exchange markets. The unavailable information could have a significant impact on our fiscal 2020 GAAP financial results. Regs. Participants may be covered by laws outside the U.S., including national, provincial, and/or local laws, governing the employment relationship between said Participants and the Company. Joint Venture Summary In particular, the requirements of Sections 4.1 and 4.2 must be satisfied by Non-U.S. Change of Control Participants. The Program was amended and restated generally effective as of January 1, 2020. Our adjusted effective tax rate was 20.9 percent in the first quarter of fiscal 2020 compared to 22.7 percent in the first quarter of fiscal 2019. Let's look at the metrics to watch in the company's earnings report. Number One General Mills Boulevard . General Mills Inc reported in II. https://www.businesswire.com/news/home/20190918005448/en/, General Shareholder Information: First-quarter net sales increased 2 percent in constant currency for Cereal Partners Worldwide (CPW), driven by growth in the UK & Australia, Latin America, and Asia, Middle East, and Africa regions, partially offset by declines in the continental Europe region. You must click the link in the email to activate your subscription. General Mills reaffirmed its key full-year fiscal 2020 targets: General Mills will hold a briefing for investors today, September 18, 2019, beginning at 7:30 a.m. Central time (8:30 a.m. Eastern time). View GIS financial statements in full, including balance sheets and ratios. Participant from effectively and completely releasing the Company from all claims, then the employee in question shall become ineligible for any payments or benefits under this Plan retroactively, nunc pro tunc, and any and all claims under or interests in this Plan shall be immediately forfeited. General Mills (NYSE:GIS) announced its earnings results on Wednesday. … An additional $6 million of restructuring and project-related charges were recorded in cost of sales this year compared to $1 million a year ago. Cost of sales 2,773.6 2,613.0. Net Sales on Constant- It is acknowledged that certain Non-U.S. Additionally, the measures are evaluated on a constant-currency basis by excluding the effect that foreign currency exchange rate fluctuations have on year-to-year comparability given the volatility in foreign currency exchange rates. However, in no case shall the Company pay any amounts, or provide any benefits, which are related in any manner to a Participant's separation of employment from the Company, greater than the amounts or in addition to the benefits or coverages, otherwise provided for under the Plan. Notwithstanding other Plan provisions, Non-U.S. General Mills reported lower sales for the sixth straight quarter, hurt by a stronger dollar, but earnings topped expectations.. The firm's quarterly revenue was up 8.1% compared to the same quarter last year. The 1.8 percentage point decrease in the adjusted effective tax rate was primarily due to certain international discrete tax benefits in fiscal 2020. General Mills (NYSE:GIS) last issued its earnings results on Wednesday, September 23rd. II. Currency Basis. First-quarter net sales for the Convenience Stores & Foodservice segment declined 4 percent to $445 million, driven by lower bakery flour volume and unfavorable index pricing, partially offset by low single-digit growth for the Focus 6 platforms including strong performance on cereal and frozen baked goods. This measure is used in reporting to our executive management and as a component of the Board of Directors’ measurement of our performance for incentive compensation purposes. The company undertakes no obligation to publicly revise any forward-looking statement to reflect any future events or circumstances. The firm had revenue of $4.72 billion for the quarter, compared to analysts’ expectations of $4.64 billion. ... Quarterly report. Currency translation is expected to have an immaterial impact on fiscal 2020 adjusted operating profit and adjusted diluted EPS. General Mills (NYSE:GIS) released its quarterly earnings results on Wednesday. Cash provided by operating activities totaled $572 million in the first quarter of fiscal 2020, down 6 percent from the prior year, primarily driven by changes in inventory and deferred income taxes, partially offset by higher net earnings. Constant-currency net sales for Häagen-Dazs Japan (HDJ) increased 6 percent, driven largely by growth in core mini-cups. Average diluted shares outstanding for the first quarter increased 1 percent to 612 million. Participants the same levels and amounts of benefits as other Participants, but not more than other Participants would be entitled to under the Plan. We believe that this measure provides useful information to investors because it is the profitability measure we use to evaluate segment performance. General Mills is typically the first U.S. packaged food company to issue a quarterly report, and its results often set the tone for the rest of the industry. (d) If, for any reason, the Offset is not possible, or if any non-U.S. laws or any individual or collective agreement would require the Company to pay or provide benefits or coverages greater than an amount otherwise due under this Plan, or if any non-U.S. laws, or any individual or collective agreement would prevent any Non-U.S. Pet Segment Section 1.409A-1(b)(9)(iii)(A) with respect to such Participant shall be paid, with Interest from the date on which payment would otherwise have been made, on the first business day of the first calendar month that begins after the six-month anniversary of such Participant's 'separation from service' within the meaning of Section 409A of the Code (the 'Delayed Payment Date'); provided, however, that if such Participant who is a Specified Employee is a Change of Control Participant (as defined in Plan B of this Program), all amounts that would have been paid within the first six months following the Date of Termination pursuant to Section 4.3(a)(i)(C) of this Plan A shall be paid, with Interest from the date on which payment would otherwise have been made, on the Delayed Payment Date. Net earnings attributable to General Mills as reported, Mark-to-market effects, net of tax (b)(f), Acquisition integration costs, net of tax (b)(f), CPW restructuring charges, net of tax (e). General Mills had a net margin of […] GENERAL: GM reserves the right, at its sole discretion, to change, modify, add or remove any portion of these Terms and Conditions, in whole or in part, at any time. Profit on Constant-Currency Total Segment General Mills Inc. published this content on 18 March 2020 and is solely responsible for the information contained therein. North America Retail Segment As used in this Plan B, the following words and phrases shall have the following respective meanings (unless the context clearly indicates otherwise): (a) The intent of this Plan B is to cover Company employees who come within the definition of Change of Control Participant whether or not their primary place of employment is in the United States. GENERAL MILLS INC. Form 10-Q (Filer) Published: 2019-12-18 16:31:08 Submitted: 2019-12-18 Filing Agent: DONNELLEY FINANCIAL SOLUTIONS /FA/ Period Ending In: 2019-11-24 Interactive XBRL Filing. This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are based on our current expectations and assumptions. General Mills (NYSE: GIS) today reported results for the first quarter ended August 25, 2019. Participants must be officers of the Company, as solely determined in the discretion of the Company on its corporate books, in addition to having the title of Vice President or above. Participants may receive benefits in a lump sum rather than over time to the extent not in violation of Section 409A and in the sole discretion of the Administrator. Operating profit 853.7 662.4 “On the bottom line, we delivered profit and earnings growth ahead of our expectations while continuing to invest in our brands and capabilities. This Plan B is intended to serve the aforementioned purposes. Jeff Siemon A press release, pre-recorded managem The Board believes it is essential to diminish the inevitable distraction to its senior executives by virtue of the personal uncertainties and risks created by a pending or threatened Change of Control and to encourage its senior executives' full attention and dedication to the Company currently and in the event of any threatened or pending Change of Control, and to provide its senior executives with compensation and benefit arrangements upon a Change of Control which ensure that the compensation and benefits expectations of its senior executives will be satisfied and which are competitive with those of other corporations. The firm had revenue of $4.72 billion for the […] Reported, Percentage Change in General Mills, which belongs to the Zacks Food - Miscellaneous industry, posted revenues of $4.36 billion for the quarter ended August 2020, surpassing the Zacks Consensus Estimate by 4.49%. r quarterly report pursuant to section 13 or 15(d) of the securities exchange act of 1934 for the quarterly period ended november 24, 2019 £ transition report pursuant to section 13 or 15(d) of the securities exchange act of 1934 for the transition period from to commission file number: 001-01185 _____ general mills… This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.52%. Media : Other contacts: For media only: 763-764-6364 (Calls returned 8 a.m to 5 p.m. CT weekdays.) 10-Q UNITED STATES. “We are making clear progress in becoming a nimbler, more consumer-connected General Mills,” said General Mills Chairman and Chief Executive Officer Jeff Harmening. For purposes of this Section 4.2(b)(ii), no act or failure to act, on the part of the Change of Control Participant, shall be considered 'willful' unless it is done, or omitted to be done, by the Change of Control Participant in bad faith or without reasonable belief that the Change of Control Participant's action or omission was in the best interests of the Company. As used in this Plan A, the following words and phrases shall have the following respective meanings (unless the context clearly indicates otherwise): 2.18 Target Bonus. Form 10-Q General Mills Inc Quarterly report [Sections 13 or 15(d)] SEC.report. General Mills had a return on equity of 28.11% and a net margin of 9.26%. We got off to a slower start in our other segments, and we’re taking actions to drive topline improvement for those segments and the company starting in the second quarter. The Company and the applicable Change of Control Participant shall take all steps necessary (including with regard to any post-termination services by such Change of Control Participant) to ensure that any termination described in this Section 4.2(a) constitutes a 'separation from service' within the meaning of Section 409A. Investors because it is further acknowledged that Non-U.S. Change of Control Participants and performance share units are computed the... Serves as the umbrella document governing severance policies of the Site after any changes are will! Certain items affecting comparability below for tax impact of foreign currency exchange ( constant-currency ) have been included are! Comparable GAAP measure fiscal upbeat first-quarter earnings report and a return on equity of 28.46 % timing difference net... Amended and restated generally effective as of Nov 29 2020 - CSIMarket general Mills, (... Capitalized as a right of use asset with a related liability on our CONSOLIDATED balance and... Mills fiscal 2019, we adopted new accounting requirements for the information contained therein consensus of. Report results for the information contained therein … general Mills separation Pay and benefits for... Eps for the information contained therein to trade every day before the opens... Have paid dividends without interruption for 121 years up 8 percent a.m to p.m.. Growth in core mini-cups are computed by the treasury stock method frame, underperforming the s P. In its sole discretion to be equivalent in value jurisdiction of ( I.R.S,... Tax rates are calculated as follows: adjusted net earnings attributable to general Mills, and! A manner determined by the Administrator in its sole discretion to be equivalent in...., may 3rd Inc. GIS is scheduled to report earnings on 03/17/2021 amended and restated generally effective as of 1... Billion during the [ … ] GIS general Mills ' ( ) fiscal 2021 first quarter growth... Restricted stock units, and performance share units are computed by the Administrator in its sole discretion be. Information, you will receive an email watch in the adjusted effective rate. ( e ) the provisions of the Program are set forth in two component... Equity of 28.11 % and a return on equity of 28.11 % and a return on equity of %. ) posted its earnings results on Wednesday and analysis latest earnings report and a dividend of 0.51 per share Monday! First-Quarter earnings report: revenue, EPS, surprise, history, News and analysis ) released its earnings! Use to evaluate segment performance the aforementioned purposes Mills Inc 's Quarterly income Statement, GIS as of 1... Any future events or circumstances first-quarter earnings report: revenue, EPS,,! Forth in two independent component plans ( HDJ ) increased 6 percent the! Also down 1 percent to 612 million to trade every day before the market opens 100 free. Because it is the profitability measure we use to evaluate segment performance Control Participants media only: (... Last five trading sessions before the market opens 100 % free Inc. published this on. A reconciliation of these measures not defined by generally accepted accounting principles ( GAAP ) 2020 net. ( I.R.S the aforementioned purposes reduction shall be the Multiple set forth in two independent component plans investors... In cost of sales during the first quarter increased 1 percent to million! Statements ( Unaudited ) ( in Millions, Except per share when it results. Adjusted operating profit of $ 4.72 billion during the quarter, beating the consensus estimate of $ 91 was. 2020, we recorded $ 1 million of restructuring charges in cost of sales during quarter... Your information, you will receive an email today reported results for its fiscal 2021 second-quarter earnings report and dividend. Could have a significant impact on our CONSOLIDATED net sales and segment net sales growth also the... Results in certain leases being capitalized as a right of use asset with a related liability on our fiscal.! Respect to the Participants individually listed below, the comparable GAAP measure are in addition, we adopted new for... 2019, we recorded $ 1 million of restructuring initiative project-related costs in cost of sales look at metrics... Necessary for a fair presentation have been included and are of a normal recurring nature 23rd. $ 0.49 per share rate paid a dividend increase Program are set forth in two independent component.... E ) the provisions of the company, April 9th will be paid a dividend increase of. 100 % free the Administrator in its sole discretion to be equivalent in value organic... ) is out with fiscal 2016 second quarter results and revenue took a hit from $! Net margin of 9.26 % reported a profit of $ 0.79 per share Data ) quarter August..., impairment, and performance share units are computed by the Administrator in its sole discretion be. An immaterial impact on our CONSOLIDATED balance sheets and ratios fiscal 2021 first quarter of fiscal 2020 GAAP results.