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 is slated to report first quarter 2020 earnings results on Wednesday, September 18, before the opening bell.The Street expects earnings to grow 8.5% to $0.77 per share. Third-quarter segment net sales growth included a 5-point headwind from lower Häagen-Dazs ice cream net sales in Asia in February, driven by the impact of the COVID-19 virus outbreak on consumer traffic in Häagen-Dazs shops and foodservice outlets. As of February 23, 2020, we reported right of use assets net of accumulated amortization in other assets of $396 million, current lease liabilities in other current liabilities of $110 million, and non-current lease liabilities in other liabilities of $301 million on our Consolidated Balance Sheet. MINNEAPOLIS--(BUSINESS WIRE)-- We have included measures in this release that are not defined by GAAP. 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. All-channel retail sales were up double digits in the first nine months of the year. Average diluted shares outstanding through nine months increased 1 percent to 612 million. General Mills (NYSE: GIS): Operating profit increased 10 percent; constant-currency adjusted operating profit¹ increased 7 percent Diluted earnings per share (EPS) totaled $0.85, up 31 percent from the prior year; adjusted diluted EPS of $0.79 increased 13 percent in constant currency Net sales decreased 2 percent to $4.0 billion; organic net sales were down 1 percent Company reaffirmed its full-year fiscal … This compares to earnings of … Net sales declines in yogurt and ice cream were partially offset by growth for snack bars and Mexican food. Share; Tweet; 0. We believe that this measure provides useful information to investors because it is the profitability measure we use to evaluate earnings performance on a comparable year-to-year basis. Headquartered in Minneapolis, Minnesota, USA, General Mills generated fiscal 2020 net sales of U.S. $17.6 billion. In the second quarter of fiscal 2019, we recorded $193 million of charges related to the impairment of certain brand intangible assets in restructuring, impairment, and other exit costs. Segment operating profit of $81 million was flat as reported and was up 3 percent in constant currency, reflecting lower SG&A expenses and favorable net price realization and mix, partially offset by lower volume and higher input costs. Email Alerts. We provide organic net sales growth rates for our consolidated net sales and segment net sales. 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. Currency Basis, Adjusted Earnings Comparisons as a Percent of Net Sales. The most significant element of uncertainty in the company’s full-year outlook is the intensity and duration of increased demand for food at home across all its major markets. To receive notifications via email, enter your email address and select at least one subscription below. The company’s current outlook incorporates increased orders from retail customers in North America and Europe subsequent to the end of the third quarter in response to increased consumer demand for food at home, as well as headwinds in Häagen-Dazs shops and other foodservice channels resulting from lower consumer traffic. General Mills (NYSE: GIS): Q2 2020 Earnings Snapshot. Diluted EPS of $2.54 was 30 percent above prior-year levels. A reconciliation of total segment operating profit to the relevant GAAP measure, operating profit, is included in the Statements of Operating Segment Results. These 2 Nasdaq Stocks Turned $200,000 Into $1 Million in 2020 -- and They're Climbing Again in 2021 Jan 8, 2021 763-764-2301. 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 148.8, 156.0 and 152.7. Operating Profit as 763-764-3202, Analysts/Investors: General Mills to Webcast Fiscal 2021 First Quarter Earnings Results on September 23, 2020 September 02, 2020 MINNEAPOLIS-- (BUSINESS WIRE)-- General Mills, Inc. (NYSE: GIS) plans to report results for its fiscal 2021 first quarter on September 23, 2020. Net earnings attributable to the company rose 69% to $580.8 million in the second quarter ended Nov. 24, as it recorded impairment and restructuring costs of $209.4 million … General Shareholder Information: General Mills has laid out a framework to drive growth in fiscal year 2020 and this plan includes driving innovation and improving marketing and in-store execution. Good morning. Our adjusted effective tax rate was 21.0 percent in the third quarter of fiscal 2020 compared to 19.9 percent in the third quarter of fiscal 2019 (see Note 7 below for a description of our use of measures not defined by GAAP). The 3.1 percentage point decrease was primarily due to a $53 million net benefit related to the reorganization of certain wholly owned subsidiaries in fiscal 2020 and changes in earnings mix jurisdiction, partially offset by certain discrete tax benefits in fiscal 2019. (a) Incremental shares from stock options, restricted stock units, and performance share units are computed by the treasury stock method. A reconciliation of these measures to reported net sales growth rates, the relevant GAAP measures, are included in our Operating Segment Results above. The effective tax rate in the quarter was 20.7 percent compared to 17.7 percent last year (please see Note 6 below for more information on our effective tax rate). Total Segment Operating Net earnings attributable to General Mills as reported, Mark-to-market effects, net of tax (b)(g), Investment activity, net, net of tax (b)(g), Acquisition integration costs, net of tax (b)(g), CPW restructuring charges, net of tax (f). We recorded $3 million of losses related to certain investment valuation adjustments in the third quarter of fiscal 2020. Thank you for joining us to hear our prepared remarks on General Mills’ Fourth Quarter Fiscal 2020 Earnings. Organic net sales were down 1 percent. WASHINGTON (dpa-AFX) - Below are the earnings highlights for General Mills (GIS):-Earnings: $454.1 million in Q3 vs. $446.8 million in the same period last year. In the nine-month period ended February 23, 2020, we recorded $24 million of restructuring charges in cost of sales. Third-quarter net sales for the Convenience Stores & Foodservice segment declined 2 percent to $465 million, driven by declines on non-Focus 6 products including flour and mixes, partially offset by low-single digit growth for the Focus 6 platforms including cereal, frozen baked goods, and yogurt. You must click the link in the email to activate your subscription. We believe that this measure provides useful information to investors because it is the profitability measure we use to evaluate segment performance. General Shareholder Information: Investor Relations Department 1-800-245-5703 or 763-764-3202. The new standard amends the hedge accounting recognition and presentation requirements to better align an entity’s risk management activities and financial reporting. Revenue is estimated to be $4.08 billion. General Mills Earnings Second Quarter Fiscal 2020 December 18, 2019. Additionally, the company’s outlook assumes its supply chain continues to operate with minimal disruption for the remainder of fiscal 2020. In the nine-month period ended February 23, 2020, we did not undertake any new restructuring actions. To receive notifications via email, enter your email address and select at least one subscription below. -EPS: $0.74 in Q3 vs. $0.74 Through nine months, Asia & Latin America net sales declined 6 percent to $1.18 billion, driven by a 4-point headwind from divestitures executed in fiscal 2019 and 2 points of unfavorable foreign currency exchange. Net sales declines in Yoplait yogurt and Häagen-Dazs ice cream were partially offset by growth for Nature Valley and Fibre One snack bars and Old El Paso Mexican food. General Mills Reports Fiscal 2020 Third-Quarter Results and Updates Full-Year Guidance, https://www.businesswire.com/news/home/20200318005276/en/. Dec 14, 2020 8:11AM EST General Mills, Inc. GIS is likely to post an increase in the top … General Mills EPS for the twelve months ending November 30, 2020 was $3.90, a 12.07% … 19.11.2020 - General Mills, Inc. (NYSE: GIS) plans to report results for its fiscal 2021 second quarter on December 17, 2020. A Reminder on Forward-looking Statements This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are based on management’s current expectations and assumptions. 25.06.2020 - General Mills, Inc. (NYSE: GIS) previously announced its plans to report results for its fiscal 2020 fourth quarter and full year on Wednesday, July 1, 2020. View source version on businesswire.com: The price to earnings ratio is calculated by taking the latest closing price and dividing it by the most recent earnings per share (EPS) number. Operating Segment Results and Supplementary Information. In the first quarter of fiscal 2020, we adopted new accounting requirements for hedge accounting. This results in certain leases being capitalized as a right of use asset with a related liability on our Consolidated Balance Sheets. Therefore, the foreign currency impact is equal to current year results in local currencies multiplied by the change in the average foreign currency exchange rate between the current fiscal period and the corresponding period of the prior fiscal year. General Mills Inc Q2 2021 Earnings Call Dec 17, 2020, 9:00 a.m. Adjusted Diluted EPS and Related Constant-currency Growth Rate. Segment operating profit increased 29 percent to $94 million, driven primarily by higher net sales, partially offset by higher media expense. 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. Also, certain measures in this release are presented on an adjusted basis. Net earnings attributable to General Mills 12.5 % 13.7 % (120) Quarter Ended. Net Sales (media) Kelsey Roemhildt: 763-764-6364, General Shareholder Information: General Mills Fiscal 2020 Q3 Earnings Press Release (opens in new window) PDF 357 KB Q3 Presentation (opens in new window) PDF 1.85 MB. General Mills (GIS) came out with quarterly earnings of $0.77 per share, beating the Zacks Consensus Estimate of $0.75 per share. Unallocated corporate expense totaled $92 million in the third quarter of fiscal 2020 compared to $49 million in the same period in fiscal 2019. General Mills' costs were held in check. Net sales growth rates for our Canada operating unit on a constant-currency basis are calculated as follows: Percentage Change in (d) The CPW restructuring charges are related to initiatives designed to improve profitability and growth that were approved in fiscal 2018 and 2019. Jeff Siemon During the third quarter of fiscal 2019, we completed our accounting for the tax effects of the Tax Cuts and Jobs Act and recorded a benefit of $7 million. The adjustments are either items resulting from infrequently occurring events or items that, in management’s judgment, significantly affect the year-to-year assessment of operating results. 763-764-3202, Analysts/Investors: General Mills Inc (GIS) Q4 2020 Earnings Call Transcript GIS earnings call for the period ending May 31, 2020. (g) See reconciliation of adjusted effective income tax rate below for tax impact of each adjustment. Fourth-quarter reported net sales will also benefit from a 53rd week. General Mills Earnings in 3 Charts The snack and cereal giant is still seeing a big COVID-19 lift. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS We have included our fiscal 2019 adjusted operating profit as it serves as the base for our target full-year fiscal 2020 adjusted operating profit growth rate. For the fourth quarter of fiscal 2020, General Mills expects to see a step up in organic net sales growth, driven in part by an extra month of results for the Pet segment as the company aligns that business to the General Mills fiscal year end. The 3.0 percentage point increase was primarily due to certain discrete tax benefits in fiscal 2019, partially offset by changes in earnings mix by jurisdiction in fiscal 2020. The effective tax rate for the third quarter of fiscal 2020 was 20.7 percent compared to 17.7 percent for the third quarter of fiscal 2019. Do the numbers hold clues to what lies ahead for the stock? ET. 1-800-245-5703 or We performed a comprehensive review of our lease portfolio, implemented lease accounting software, and developed a centralized business process with corresponding controls. Restructuring, impairment, and other exit costs totaled $6 million in the third quarter compared to $60 million in the prior year (please see Note 3 below for more information on these charges). (a) Earnings before income taxes and after-tax earnings from joint ventures. “We began fiscal 2020 with three key priorities: accelerate our organic sales growth, maintain our strong margins, and reduce our leverage,” said General Mills Chairman and Chief Executive Officer Jeff Harmening. (Unaudited). We also recorded $6 million of integration costs in the third quarter of fiscal 2019 related to the acquisition of Blue Buffalo. We believe this measure provides useful information to investors because it presents the adjusted effective income tax rate on a comparable year-to-year basis. Note: Table may not foot due to rounding. In particular, our predictions about future net sales and earnings could be affected by a variety of factors, including: the impact of the coronavirus (COVID-19) outbreak on our business, suppliers, consumers, customers, and employees; disruptions or inefficiencies in the supply chain, including any impact of the coronavirus (COVID-19) outbreak; competitive dynamics in the consumer foods industry and the markets for our products, including new product introductions, advertising activities, pricing actions, and promotional activities of our competitors; economic conditions, including changes in inflation rates, interest rates, tax rates, or the availability of capital; product development and innovation; consumer acceptance of new products and product improvements; consumer reaction to pricing actions and changes in promotion levels; acquisitions or dispositions of businesses or assets, including our acquisition of Blue Buffalo and issues in the integration of Blue Buffalo and retention of key management and employees; unfavorable reaction to our acquisition of Blue Buffalo by customers, competitors, suppliers, and employees; changes in capital structure; changes in the legal and regulatory environment, including tax legislation, labeling and advertising regulations, and litigation; impairments in the carrying value of goodwill, other intangible assets, or other long-lived assets, or changes in the useful lives of other intangible assets; changes in accounting standards and the impact of significant accounting estimates; product quality and safety issues, including recalls and product liability; changes in consumer demand for our products; effectiveness of advertising, marketing, and promotional programs; changes in consumer behavior, trends, and preferences, including weight loss trends; consumer perception of health-related issues, including obesity; consolidation in the retail environment; changes in purchasing and inventory levels of significant customers; fluctuations in the cost and availability of supply chain resources, including raw materials, packaging, and energy; effectiveness of restructuring and cost saving initiatives; volatility in the market value of derivatives used to manage price risk for certain commodities; benefit plan expenses due to changes in plan asset values and discount rates used to determine plan liabilities; failure or breach of our information technology systems; foreign economic conditions, including currency rate fluctuations; and political unrest in foreign markets and economic uncertainty due to terrorism or war. Basis, Net Sales Growth Rates for Canada Operating Unit on a Constant-currency Basis. Operating Profit General Mills, Inc. (NYSE: GIS) plans to report results for its fiscal 2020 third quarter on Wednesday, March 18, 2020. Harmening had warned investors back in late September to brace for sluggish earnings results through the rest of … In the opinion of management, all adjustments considered necessary for a fair presentation have been included and are of a normal recurring nature. Greetings and welcome to … 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. 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 first quarter of fiscal 2020, we adopted new requirements for the accounting, presentation and classification of leases. Canada operating unit net sales were up 6 percent as reported and up 5 percent in constant currency. You can access the webcast at www.generalmills.com/investors. You can sign up for additional subscriptions at any time. Certain measures in this release are presented excluding the impact of foreign currency exchange (constant-currency). Reported, Percentage Change in Segment operating profit of $8 million was down $11 million in the quarter, driven by higher SG&A expenses and lower ice cream net sales in Asia in February, partially offset by higher net sales in Latin America. Note: Tables may not foot due to rounding. In addition, we elected not to recognize leases with an initial term of 12 months or less on our Consolidated Balance Sheet and to continue our historical treatment of land easements, under permitted elections. Current and historical p/e ratio for General Mills (GIS) from 2006 to 2020. General Mills generated $1,426.8 million as net cash from operating activities in six months ended Nov 29, 2020. Vice President Investor Relations Based on its year-to-date performance and fourth-quarter expectations, General Mills updated its full-year fiscal 2020 targets: General Mills will hold a briefing for investors today, March 18, 2020, beginning at 7:30 a.m. Central time (8:30 a.m. Eastern time). After submitting your information, you will receive an email. This guidance did not have a material impact on retained earnings, our Consolidated Statements of Earnings, or our Consolidated Statement of Cash Flows. Components of Fiscal 2020 Reported Net Sales Growth, Components of Fiscal 2020 Organic Net Sales Growth, Fiscal 2020 Segment Operating Profit Growth. Net earnings attributable to General Mills totaled $1.6 billion. General Mills to Webcast Fiscal 2021 First Quarter Earnings Results on September 23, 2020. Our third-quarter results were broadly in line with our expectations, except for the negative impact in Asia of the COVID-19 virus outbreak. After submitting your information, you will receive an email. Third-quarter net sales for the Europe & Australia segment declined 2 percent to $422 million, including 1 point of unfavorable foreign currency exchange. Demitri Kalogeropoulos (TMFSigma) Dec 23, 2020 at 7:08AM Author Bio. Adjusted effective income tax rates are calculated as follows: Impact of income tax adjustments on adjusted diluted EPS. We recorded $7 million of net losses related to certain investment valuation adjustments and the loss on sale of certain corporate investments in the nine-month period ended February 23, 2020, compared to $13 million of gains in the same period last year. We recorded $12 million of restructuring charges for previously announced restructuring actions in the third quarter of fiscal 2020 and $37 million in the nine-month period ended February 23, 2020, compared to $59 million of restructuring charges in the third quarter of fiscal 2019 and $61 million in the nine-month period ended February 24, 2109. Segment operating profit of $43 million was down 14 percent as reported and down 13 percent in constant currency, driven by higher input costs and the impact of lower contributions from ice cream net sales in Asia in February, partially offset by favorable net price realization and mix and lower SG&A expenses. Jeff Siemon 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 $56 million. During the second quarter of fiscal 2019, we recorded a $13 million charge in restructuring, impairment, and other exit costs related to the impairment of certain manufacturing assets within our North America Retail segment. Constant-currency total segment operating profit growth is calculated as follows: Percentage Change in Adjusted comparisons as a % of net sales (a): May 31, 2020 May 26, 2019 Basis Pt Change. A shopper chooses a bag of Blue Buffalo dog food in a pet food store in New York. General Mills, Inc. – Fiscal 2020 Fourth Quarter Earnings Results, June 30, 2020 actions. The adoption did not have a material impact on our results of operations or financial position. We recorded $7 million of restructuring charges in cost of sales in the third quarter of fiscal 2020. Segment operating profit of $298 million was down 2 percent, primarily driven by lower net sales. During the third quarter of fiscal 2019, we sold our La Salteña fresh pasta and refrigerated dough business in Argentina and recorded a pre-tax loss of $35 million. By Forex News December 18, 2019 98 views. Our adjusted effective tax rate was 21.3 percent in the nine-month period ended February 23, 2020, compared to 22.2 percent in the same period of fiscal 2019 (see Note 7 below for a description of our use of measures not defined by GAAP). Net sales were down 2 percent in the 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. The accompanying Consolidated Financial Statements of General Mills, Inc. (we, us, our, General Mills, or the Company) have been prepared in accordance with accounting principles generally accepted in the United States for annual and interim financial information. MINNEAPOLIS--(BUSINESS WIRE)--General Mills… (f) The CPW restructuring charges are related to initiatives designed to improve profitability and growth that were approved in fiscal 2018 and 2019. Investor Relations Department Acquisition transaction and integration costs. 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. Segment operating profit of $532 million was 9 percent below year-ago results that increased 12 percent, driven primarily by higher media expenses, unfavorable net price realization and mix, and higher input costs. Currency Basis, Constant-currency Segment Operating Profit Growth Rates. 03.06.2020 - General Mills, Inc. (NYSE: GIS) plans to report results for its fiscal 2020 fourth quarter and full year on Wednesday, July 1, 2020. Richard Levine | Corbis via Getty Images. The company undertakes no obligation to publicly revise any forward-looking statement to reflect any future events or circumstances. Our fiscal 2020 outlook for organic net sales growth also excludes the effect of a 53rd week, acquisitions, and divestitures. We believe that organic net sales growth rates provide useful information to investors because they provide transparency to underlying performance in our net sales by excluding the effect that foreign currency exchange rate fluctuations, as well as acquisitions, divestitures, and a 53rd week, when applicable, have on year-to-year comparability. Segment operating profit of $256 million was up 62 percent, driven primarily by a $53 million one-time purchase accounting inventory adjustment in the year-ago period, as well as favorable net price realization and mix. https://www.businesswire.com/news/home/20200318005276/en/, (analysts) Jeff Siemon: 763-764-2301 Here's How General Mills (GIS) Looks Ahead of Q2 Earnings Zacks Equity Research December 14, 2020 CHD Quick Quote CHD GIS Quick Quote GIS MKC Quick Quote MKC KHC Quick Quote KHC certain items affecting comparability (a): Adjusted net earnings attributable to General Mills. For the last reported quarter, General Mills came out with earnings of $1 per share versus the Zacks Consensus Estimate of $0.87 per share, representing a surprise of 14.94%. Segment operating profit totaled $1.73 billion, down 1 percent from a year ago due primarily to higher SG&A expenses, including higher media expense. 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 earnings from joint ventures, Net earnings, including earnings attributable to redeemable and noncontrolling interests, Net earnings attributable to redeemable and noncontrolling interests, Net earnings attributable to General Mills, Comparisons as a % of net sales excluding. Investor Relations Department Adjusted gross margin 36.1 % 35.3 % 80 Adjusted operating profit 17.7 % 17.3 % 40 Adjusted net earnings attributable to General Mills … Hyperinflationary accounting, net of tax (b)(g), Adjusted Operating Profit Growth on a Constant-currency Basis. To present this information, current period results for entities reporting in currencies other than United States dollars are translated into United States dollars at the average exchange rates in effect during the corresponding period of the prior fiscal year, rather than the actual average exchange rates in effect during the current fiscal year. We believe that these constant-currency measures provide useful information to investors because they provide transparency to underlying performance by excluding the effect that foreign currency exchange rate fluctuations have on period-to-period comparability given volatility in foreign currency exchange markets. The third-quarter adjusted effective tax rate was 21.0 percent compared to 19.9 percent a year ago, primarily driven by discrete tax benefits in the prior year. General Mills, Inc. GIS released robust first-quarter fiscal 2021 results, wherein both top and bottom lines surged year over year and beat the Zacks Consensus Estimate. The PE ratio is a simple way to assess whether a stock is over or under valued and is the most widely used valuation measure. “During the rapidly evolving situation related to COVID-19, our number one objective continues to be the health and safety of our consumers, employees, and other stakeholders. Our segments’ operating profit growth rates on a constant-currency basis are calculated as follows: Percentage Change in Cash provided by operating activities totaled $2.16 billion through nine months of fiscal 2020, up 7 percent from the prior year, primarily driven by higher net earnings, partially offset by changes in non-cash restructuring, impairment, and other exit costs and deferred income taxes. Segment operating profit of $92 million was down 5 percent, primarily driven by higher input costs. Through nine months, Europe & Australia net sales decreased 6 percent to $1.31 billion, including 3 points of unfavorable foreign currency exchange. We believe that this measure provides useful information to investors because it is the operating profit measure we use to evaluate operating profit performance on a comparable year-to-year basis. See accompanying notes to consolidated financial statements. The second topic I want to address is the impact the COVID-19 pandemic has had on our employees and our communities. Nine-month segment net sales growth included a 2-point headwind from lower ice cream net sales in Asia in February. General Mills (NYSE:GIS) Earnings Information General Mills last posted its earnings results … The unavailable information could have a significant impact on our fiscal 2020 GAAP financial results. Cash Flow from changes in current assets and liabilities: Changes in current assets and liabilities, GENERAL MILLS, INC. AND SUBSIDIARIES You can sign up for additional subscriptions at any time. Through nine months, Convenience Stores & Foodservice net sales decreased 2 percent to $1.42 billion, due primarily to lower bakery flour volume and unfavorable index pricing, partially offset by low-single digit growth for the Focus 6 platforms. At any time of the COVID-19 virus outbreak 2020 actions cream net sales growth included a headwind! 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Of sales in the U.S the prior year Vice President Investor Relations 1-800-245-5703... 24 million of restructuring charges in cost of sales address and select at least one subscription below,. And paid $ 895 million of restructuring charges in cost of sales, fiscal,., certain measures in this release are presented excluding the impact of each.! Pandemic has had on our employees and our communities Protection Formula and Wilderness and classification of leases measure... Below for reconciliation of adjusted effective income tax rate below for tax impact of each adjustment leases being capitalized a. Organic net price realization and mix the nine-month period ended February 23, 2020 hyperinflationary accounting presentation...