CONSOLIDATED BALANCE SHEETS May 28, 2017 May 29, 2016 Net sales by class of similar products were as follows: In Millions Inventories: Fiscal Year GENERAL MILLS, INC. AND SUBSIDIARIES Raw materials and packaging Finished goods In Millions 2017 2016 2015 395.4 397.3 1,224.3 1,163.1 $ 3,302.2 $ 3,297.2 $ 3,392.0 Snacks Grain 73.0 72.6 Cereal 2,673.2 2,731.5 2,771.3 (209.1) 1,483.6 $1,413.7 (219.3) In Millions, Except Par Value May 29, 2016 Excess of FIFO over LIFO cost (a) May 28, 2017 Convenient meals 2,653.6 2,779.0 2,810.3 Total Yogurt Dough Baking mixes and ingredients 1,654.1 Super-premium ice cream 2,403.5 2,760.9 2,938.3 ASSETS (a) Inventories of $893.8 million as of May 28, 2017, and $8410 million as of May 29, 2016, were valued at LIFO. The difference between replacement cost and the stated LIFO inventory value is not materially different from the reserve for the LIFO valuation method. 1,690.6 1,820.0 1,877.0 Current assets: 1,867.7 1,704.3 Cash and cash equivalents $ 763.7 1,360.8 $ 766.1 738.4 731.2 769.5 Receivables 1,430.1 Vegetables 310.5 532.3 937.3 Мay 29, 2016 Inventories 1,483.6 1,413.7 Мay 28, 2017 Other 193.7 206.7 266.9 In Millions $15,619.8 $16,563.1 $17,630.3 Total Prepaid expenses and other current assets 381.6 399.0 Prepaid expenses and other current assets: Total current assets 4,061.4 3,937.2 163.7 Other receivables 159.3 The following table provides financial information by geographic area: Land, buildings, and equipment 3,687.7 3,743.6 Prepaid expenses 168.9 177.9 Goodwill 8,747.2 8,741.2 Derivative receivables, primarily commodity-related Grain contracts Other intangible assets 35.0 44.6 4,530.4 4,538.6 Fiscal Year 2.7 1.8 In Millions 2017 2016 2015 Other assets 785.9 751.7 Miscellaneous 11.3 15.4 Net sales: Total assets $ 21,812.6 $ 21,712.3 381.6 $ Total 399.0 $11,160.9 $11,930.9 $12,501.8 United States 4,632.2 LIABILITIES AND EQUITY Non-United States 4,458.9 5,128.5 May 28, 2017 Мay 29, 2016 $15,619.8 $16,563.1 $17,630.3 Total In Millions Current liabilities: Land, buildings, and equipment Accounts payable $ 2,119.8 2,046.5 Мay 28, 2017 May 29, 2016 $ Land 79.8 92.9 In Millions Current portion of long-term debt Notes payable 604.7 1,103.4 2,236.0 Buildings Buildings under capital lease Equipment Equipment under capital lease Capitalized software Construction in progress Total land, buildings, and equipment Less accumulated depreciation 2,249.2 Cash and cash equivalents: 1,234.1 269.8 0.3 0.3 United States $ 62.9 $ 118.5 Other current liabilities 1,372.2 1,595.0 6,095.9 5,945.6 Non-United States 703.2 645.2 Total current liabilities 5,330.8 5,014.7 3.0 3.0 Total 766.1 763.7 Long-term debt 7,057.7 7,642.9 545.4 523.0 553.0 702.7 Мay 28, 2017 Deferred income taxes 1,719.4 1,399.6 Мay 29, 2016 In Millions 9,526.6 9,503.5 Other liabilities 2,087.6 1,523.1 Land, buildings, and equipment: (5,838.9) (5,759.9) Total liabilities 16,216.2 15,559.6 $ 2,704.0 $ 2,755.1 Total 3,687.7 3,743.6 United States Redeemable interest 910.9 845.6 Non-United States 983.7 988.5 May 28, 2017 May 29, 2016 Stockholders' equity: $ 3,687.7 $ 3,743.6 Total In Millions Common stock, 754.6 shares issued, $0.10 par value Additional paid-in capital 75.5 75.5 Other assets: 1,120.9 1,177.0 Investments in and advances NOTE 17. SUPPLEMENTAL INFORMATION Retained earnings 13,138.9 12,616.5 505.3 $ to joint ventures 518.9 (6,326.6) (2,612.2) Pension assets (7,762.9) 144.9 90.9 Common stock in treasury, at cost, shares of 177.7 and 157.8 The components of certain Consolidated Balance Sheet accounts are as follows: Exchangeable note with related party 12.7 (2,244.5) Accumulated other comprehensive loss Total stockholders' equity Life insurance 25.6 26.3 4,327.9 4,930.2 Miscellaneous 110.1 102.9 Noncontrolling interests Total equity Total liabilities and equity Мay 28, 2017 357.6 376.9 May 29, 2016 Total 785.9 751.7 In Millions 4,685.5 5,307.1 Receivables: $ 21,712.3 $21,812.6 $ 1,454.4 (24.3) $ 1,430.1 $ 1,360.8 $ 1,390.4 Customers (29.6) Less allowance for doubtful accounts See accompanying notes to consolidated financial statements. Total