Balance Sheet: Assets

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

General Mills Inc., consolidated balance sheet: assets

US$ in thousands

	May 26, 2019	May 27, 2018	May 28, 2017	May 29, 2016	May 31, 2015	May 25, 2014
Cash and cash equivalents	450,000)	399,000)	766,100)	763,700)	334,200)	867,300)
Receivables	1,679,700)	1,684,200)	1,430,100)	1,360,800)	1,386,700)	1,483,600)
Inventories	1,559,300)	1,642,200)	1,483,600)	1,413,700)	1,540,900)	1,559,400)
Deferred income taxes	—)	—)	—)	—)	100,100)	74,100)
Other receivables	250,200)	174,400)	163,700)	159,300)	148,800)	153,900)
Prepaid expenses	189,000)	165,600)	168,900)	177,900)	169,300)	187,200)
Derivative receivables, primarily commodity-related	42,200)	40,500)	35,000)	44,600)	80,900)	33,300)
Grain contracts	6,700)	7,100)	2,700)	1,800)	3,300)	7,500)
Miscellaneous	9,400)	10,700)	11,300)	15,400)	21,500)	27,200)
Prepaid expenses and other current assets	497,500)	398,300)	381,600)	399,000)	423,800)	409,100)
Current assets	4,186,500)	4,123,700)	4,061,400)	3,937,200)	3,785,700)	4,393,500)
Land, buildings, and equipment	3,787,200)	4,047,200)	3,687,700)	3,743,600)	3,783,300)	3,941,900)
Goodwill	13,995,800)	14,065,000)	8,747,200)	8,741,200)	8,874,900)	8,650,500)
Other intangible assets	7,166,800)	7,445,100)	4,530,400)	4,538,600)	4,677,000)	5,014,300)
Investments in and advances to joint ventures	452,900)	499,600)	505,300)	518,900)	530,600)	507,500)
Pension assets	323,500)	309,900)	144,900)	90,900)	138,200)	432,200)
Exchangeable note with related party	—)	—)	—)	12,700)	30,700)	68,200)
Life insurance	22,700)	26,900)	25,600)	26,300)	26,600)	25,800)
Miscellaneous	175,800)	106,600)	110,100)	102,900)	117,500)	111,800)
Other assets	974,900)	943,000)	785,900)	751,700)	843,600)	1,145,500)
Noncurrent assets	25,924,700)	26,500,300)	17,751,200)	17,775,100)	18,178,800)	18,752,200)
Total assets	30,111,200)	30,624,000)	21,812,600)	21,712,300)	21,964,500)	23,145,700)

Based on: 10-K (reporting date: 2019-05-26), 10-K (reporting date: 2018-05-27), 10-K (reporting date: 2017-05-28), 10-K (reporting date: 2016-05-29), 10-K (reporting date: 2015-05-31), 10-K (reporting date: 2014-05-25).

Assets: Selected Items

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Balance sheet item	Description	The company
Current assets	Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.	General Mills Inc. current assets increased from 2017 to 2018 and from 2018 to 2019.
Land, buildings, and equipment	Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.	General Mills Inc. land, buildings, and equipment increased from 2017 to 2018 but then slightly decreased from 2018 to 2019 not reaching 2017 level.
Noncurrent assets	Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold or consumed after one year or beyond the normal operating cycle, if longer.	General Mills Inc. noncurrent assets increased from 2017 to 2018 but then slightly decreased from 2018 to 2019.
Total assets	Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.	General Mills Inc. total assets increased from 2017 to 2018 but then slightly decreased from 2018 to 2019.

Current Assets: Selected Items

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Balance sheet item	Description	The company
Cash and cash equivalents	Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.	General Mills Inc. cash and cash equivalents decreased from 2017 to 2018 but then slightly increased from 2018 to 2019.
Receivables	Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection.	General Mills Inc. receivables increased from 2017 to 2018 but then slightly decreased from 2018 to 2019.
Inventories	Amount after valuation and LIFO reserves of inventory expected to be sold, or consumed within one year or operating cycle, if longer.	General Mills Inc. inventories increased from 2017 to 2018 but then slightly decreased from 2018 to 2019 not reaching 2017 level.

General Mills Inc. (NYSE:GIS)

Balance Sheet: Assets

Assets: Selected Items

Current Assets: Selected Items