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Statement of Financial Position, Liabilities and Stockholders' Equity
The statement of financial position provides creditors, investors, and analysts with information on company's resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company's assets as well as an indication of cash flows that may come from receivables and inventories.
Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.
General Mills Inc., Consolidated Statement of Financial Position, Liabilities and Stockholders' Equity
USD $ in thousands
|May 27, 2018||May 28, 2017||May 29, 2016||May 31, 2015||May 25, 2014||May 26, 2013|
|Current portion of long-term debt|
|Accrued trade and consumer promotions|
|Accrued interest, including interest rate swaps|
|Restructuring and other exit costs reserve|
|Other current liabilities|
|Long-term debt, excluding current portion|
|Deferred income taxes|
|Accrued compensation and benefits, including obligations for underfunded other postretirement benefit and postemployment benefit plans|
|Common stock, $0.10 par value|
|Additional paid-in capital|
|Common stock in treasury, at cost|
|Accumulated other comprehensive loss|
|Total liabilities and equity|
|Accounts payable||Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).||General Mills Inc.'s accounts payable increased from 2016 to 2017 and from 2017 to 2018.|
|Current liabilities||Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer.||General Mills Inc.'s current liabilities increased from 2016 to 2017 and from 2017 to 2018.|
|Noncurrent liabilities||Total obligations incurred as part of normal operations that is expected to be repaid beyond the following twelve months or one business cycle.||General Mills Inc.'s noncurrent liabilities increased from 2016 to 2017 and from 2017 to 2018.|
|Total liabilities||Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future.||General Mills Inc.'s total liabilities increased from 2016 to 2017 and from 2017 to 2018.|
|Stockholders' equity||Total of all Stockholders' Equity (deficit) items, net of receivables from officers, directors owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest).||General Mills Inc.'s stockholders' equity declined from 2016 to 2017 but then increased from 2017 to 2018 exceeding 2016 level.|
|Total equity||Total of Stockholders' Equity (deficit) items, net of receivables from officers, directors owners, and affiliates of the entity including portions attributable to both the parent and noncontrolling interests (previously referred to as minority interest), if any. The entity including portions attributable to the parent and noncontrolling interests is sometimes referred to as the economic entity.||General Mills Inc.'s total equity declined from 2016 to 2017 but then increased from 2017 to 2018 exceeding 2016 level.|