Income StatementBalance SheetCash FlowSegments
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General Mills Income Statement

Revenue, expenses, and profitability over time

General Mills generated $18.4B in trailing twelve-month revenue, down 0.1% year-over-year. Net income was $2.2B with a 12.05% net margin. Gross margin stands at 33.02% and operating margin at 18.96%. Diluted EPS is $4.09, which declined 0.1% year-over-year. Based on the Q1 2026 filing.

Total Revenue (TTM)$18.4BGross Profit (TTM)$6.1BOperating Income (TTM)$3.5BNet Income (TTM)$2.2BEps Diluted (TTM)$4.09
Latest FilingQ1 2026
Report Date2026-03-18
Market Cap$18.1B
P/E Ratio8.17
ROE23.8%

Operating Expenses

MetricQ2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Acquisition and integration costs——$6.7M———
Restructuring and Asset Impairment Charges-$1.1M-$2.5M$77.7M-$2.7M$99.5M$12.3M
Stock-Based Compensation Expense$26.3M$20.5M$24.6M$15.1M$24.2M$26.3M
Share-Based Compensation Expense$26.3M$20.5M$24.6M$15.1M$24.2M$26.3M
Defined Contribution Plan Cost$24.0M$24.0M$24.0M———
Operating Lease Cost$36.4M$36.4M$36.4M———
Short-term Lease Cost$8.2M$8.2M$8.2M———
Depreciation and amortization$129.5M$134.3M$135.6M$138.7M$138.0M$139.4M
Defined Contribution Plan Cost$24.0M$24.0M$24.0M———
Defined Contribution Plan Cost$24.0M$24.0M$24.0M———
Operating Lease Cost$36.4M$36.4M$36.4M———
Operating Lease Cost$36.4M$36.4M$36.4M———
Stock-based compensation expense$26.3M$20.5M$24.6M$15.1M$24.2M$26.3M
Variable Lease Cost$1.9M$1.9M$1.9M———
Defined Contribution Plan Expense$24.0M$24.0M$24.0M———
Occupancy and equipment$36.4M$36.4M$36.4M———
Research and development$64.2M$64.2M$64.2M———
Selling and marketing$211.9M$211.9M$211.9M———
Share-Based Compensation$26.3M$20.5M$24.6M$15.1M$24.2M$26.3M
Variable Lease Expense$1.9M$1.9M$1.9M———
Variable Lease Cost$1.9M$1.9M$1.9M———
Operating Lease Cost$36.4M$36.4M$36.4M———
Variable Lease Cost$1.9M$1.9M$1.9M———
Variable Lease Cost$1.9M$1.9M$1.9M———

Tax

MetricQ2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Effective Tax Rate Statutory Reconciliation$0.1$0.1$0.1———
Unrecognized Tax Benefits Current Period Increases$12.2M$12.2M$12.2M———
Unrecognized Tax Benefits Prior Period Decreases$700.0K$700.0K$700.0K———
Effective Tax Rate (Continuing Operations)$0.1$0.1$0.1———
Effective Tax Rate$0.1$0.1$0.1———
Current income tax expense (benefit)$173.7M$173.7M$173.7M———
Deferred Foreign Tax Expense (Benefit)-$13.8M-$13.8M-$13.8M———
Effective Tax Rate, Continuing Operations$0.1$0.1$0.1———
Income Tax at U.S. Statutory Rate5.3%5.3%5.3%———
State and Local Income Taxes, Net2002500000.0%2002500000.0%2002500000.0%———
Tax Reconciliation: Other Adjustments0.2%0.2%0.2%———
Tax Reconciliation: Research and Other Credits0.4%0.4%0.4%———
Current State Tax Expense$20.0M$20.0M$20.0M———
Deferred Foreign Tax Expense-$13.8M-$13.8M-$13.8M———
Effective Income Tax Rate, Continuing Operations$0.1$0.1$0.1———
Tax Reconciliation, Federal Statutory Amount$0.1$0.1$0.1———
Tax Reconciliation, Foreign Rate Differential-0.4%-0.4%-0.4%———
Tax Reconciliation, Other Items$0.0$0.0$0.0———
Tax Reconciliation, State and Local Taxes$0.0$0.0$0.0———
Effective Tax Rate$0.1$0.1$0.1———
Current State and Local Tax Expense (Benefit)$20.0M$20.0M$20.0M———
Deferred Foreign Tax Expense (Benefit)-$13.8M-$13.8M-$13.8M———
Effective Tax Rate (Continuing Operations)$0.1$0.1$0.1———
Current State and Local Tax Expense$20.0M$20.0M$20.0M———
Deferred Foreign Tax Expense-$13.8M-$13.8M-$13.8M———
Effective Tax Rate (Continuing Operations)$0.1$0.1$0.1———
Tax Reconciliation at Federal Statutory Rate$0.1$0.1$0.1———
Unrecognized Tax Benefits Reevaluation (Statute Lapse)$1.6M$1.6M$1.6M———
Current Income Tax Expense$173.7M$173.7M$173.7M———
Current State and Local Tax Expense (Benefit)$20.0M$20.0M$20.0M———
Deferred Income Tax Expense-$27.7M-$2.0M-$107.4M$10.0M$41.6M$87.8M
Tax Reconciliation - Federal Statutory Rate$0.1$0.1$0.1———
Current Federal Tax Expense$137.3M$137.3M$137.3M———
Current Foreign Tax Expense$16.4M$16.4M$16.4M———
Current State and Local Tax Expense$20.0M$20.0M$20.0M———
Deferred Federal Tax Expense-$15.7M-$15.7M-$15.7M———
Deferred Foreign Tax Expense-$13.8M-$13.8M-$13.8M———
Deferred State and Local Tax Expense-$825.0K-$825.0K-$825.0K———
Effective Tax Rate (Continuing Operations)$0.1$0.1$0.1———
Effective Income Tax Rate$0.1$0.1$0.1———
Statutory Federal Income Tax Rate$0.1$0.1$0.1———
Current State and Local Tax Expense (Benefit)$20.0M$20.0M$20.0M———
Deferred Foreign Tax Expense (Benefit)-$13.8M-$13.8M-$13.8M———
Effective Tax Rate, Continuing Operations$0.1$0.1$0.1———
Current State and Local Tax Expense (Benefit)$20.0M$20.0M$20.0M———
Deferred and Other Income Taxes-$27.7M-$2.0M-$107.4M$10.0M$41.6M$87.8M
Deferred Foreign Tax Expense (Benefit)-$13.8M-$13.8M-$13.8M———
Current State and Local Tax Expense$20.0M$20.0M$20.0M———
Deferred Foreign Tax Expense-$13.8M-$13.8M-$13.8M———
Effective Tax Rate Continuing Operations$0.1$0.1$0.1———
Tax Reconciliation Federal Statutory Rate$0.1$0.1$0.1———
Tax Reconciliation Other Adjustments$0.0$0.0$0.0———
Tax Reconciliation State and Local Taxes$0.0$0.0$0.0———

Other

MetricQ2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Capital Expenditures$160.9M$103.9M$220.2M$109.5M$143.6M$102.4M
Change in Accounts Receivable———-$900.0K$94.6M—
Operating Lease Payments$38.2M$38.2M$38.2M———
ROU Asset Obtained - Operating Lease$40.9M$40.9M$40.9M———
Business Combination, Integration-Related Cost, Expense——$6.7M———
Concentration Risk Credit Risk Financial Instrument Maximum Exposure$1.6M$1.6M$1.6M———
Federal$137.3M$137.3M$137.3M———
Foreign$16.4M$16.4M$16.4M———
Debt And Equity Securities Unrealized Loss$0.0$0.0$0.0———
Federal-$15.7M-$15.7M-$15.7M———
Deferred and other income taxes-$27.7M-$2.0M-$107.4M$10.0M$41.6M$87.8M
State-$825.0K-$825.0K-$825.0K———
Defined Benefit Plan Year Health Care Cost Trend Rate Reaches Ultimate Trend Rate50850.0%50850.0%50850.0%———
Depreciation, Amortization and Accretion, Net$134.8M$134.8M$134.8M———
Effect of currency exchange rate changes on cash, cash equivalents, and restricted cash-$19.4M$1.1M$17.7M$4.4M-$5.9M$20.4M
Foreign operations-$0.0-$0.0-$0.0———
Share-based compensation-0.1%-0.1%-0.1%———
Effectiveincometaxratereconciliationnontaxablegaindivestitures-0.1%-0.1%-0.1%———
Distributions of earnings from equity method investees$0.0$7.8M$13.7M$26.9M—$6.0M
Gross Unrealized Gains$1.2M$1.2M$1.2M———
Equity Securities, FV-NI, Unrealized Loss$0.0$0.0$0.0———
Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Into Level3$8.6M$8.6M$8.6M———
Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Transfers Net$0.0$0.0$0.0———
Gain on sale of business and assets$0.0$95.9M$0.0$1.1B$0.0-$5.0M
Increase (Decrease) in Accounts Payable, Trade$342.8M-$403.1M$223.4M-$252.5M—-$332.2M
Increase (Decrease) in Accounts Receivable———-$900.0K$94.6M—
Increase (Decrease) in Inventories$73.8M-$229.0M$78.0M$135.2M$7.8M-$283.6M
Increase (decrease) in other current liabilities——$33.3M$409.0M——
Increase (Decrease) in Prepaid Expense and Other Assets-$23.7M-$56.2M—-$36.6M—$44.0M
Interest Costs Capitalized Adjustment$2.7M$2.7M$2.7M———
Cash Provided by (Used in) Financing Activity, Including Discontinued Operation$851.5M-$1.0B-$570.4M-$1.5B-$927.0M-$210.2M
Cash Provided by (Used in) Investing Activity, Including Discontinued Operation-$157.9M-$1.3B-$216.3M$1.7B——
Cash Provided by (Used in) Operating Activity, Including Discontinued Operation$1.2B$531.9M$611.6M$397.0M$819.3M$397.9M
Net Earnings For Earnings Per Share Calculation$571.2M$571.2M$571.2M———
Operating Lease Payments$38.2M$38.2M$38.2M———
All other operating activities-$17.7M-$19.2M—$19.3M$60.6M$9.0M
Payment for (Proceeds from) Other Investing Activity$3.9M$1.1M$900.0K$1.9M$18.2M—
Payments for Repurchase of Common Stock$300.4M$301.5M$301.0M$500.0M$100.0K$200.0K
Payments For Repurchase Of Redeemable Noncontrolling Interest$63.2M$63.2M$63.2M———
Payment related to business acquisition$0.0$1.4B$2.0M$0.0$0.0$0.0
Payments to Acquire Property, Plant, and Equipment$160.9M$103.9M$220.2M$109.5M$143.6M$102.4M
Payment for Pension and Other Postretirement Benefits$7.7M$7.8M$7.8M$5.2M$7.8M$8.3M
Proceeds from principal business dispositions$0.0$241.8M$0.0$1.8B—$26.8M
Debt issued (Note 13)——$854.9M——$0.0
Financing — other-$43.0M-$40.5M-$11.6M-$21.7M-$12.7M-$2.0M
Proceeds from (Repayments of) Short-Term Debt$16.3M$142.7M$270.1M-$654.8M-$4.7M$820.4M
Dispositions of property, plant, and equipment$300.0K$100.0K$100.0K$2.8M—$2.8M
Cash received from option exercises$24.4M$4.6M$4.6M$200.0K$100.0K$100.0K
Repayments of Long-Term Debt—$500.0M$800.0M——$698.7M
Stock-based compensation$26.3M$20.5M$24.6M$15.1M$24.2M$26.3M
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Forfeitures and Expirations in Period38.1K38.1K38.1K———
Forfeited or expired (in shares)$16.82$16.82$16.82———
Options granted (in shares)330.6K330.6K330.6K———
Granted (in shares)$15.88$15.88$15.88———
Exercised (in shares)$13.64$13.64$13.64———
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period195.2K195.2K195.2K———
Supply chain finance program, payments$1.0B$1.0B$1.0B———
Invoices confirmed during the period$1.0B$1.0B$1.0B———
Unrealized Gain Loss On Interest Rate Cash Flow Hedges Pretax Accumulated Other Comprehensive Income Loss-$3.0M-$3.0M-$3.0M———
Unrecognized tax benefits, settlements$650.0K$650.0K$650.0K———
Interest expense and penalties, net (benefit)/charge recognized$675.0K$675.0K$675.0K———
Additions for tax positions of prior years$3.3M$3.3M$3.3M———

Other Income & Expense

MetricQ2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Realized Gain (Loss) on Marketable Securities (Excl. OTTI)$0.0$0.0$0.0———
Income from equity method investments$30.0M$14.4M—$6.8M-$59.6M-$6.1M
Gain on Sale of Business$0.0$95.9M$0.0$1.1B$0.0-$5.0M
Gain (loss) on disposal of assets$0.0$95.9M$0.0$1.1B$0.0-$5.0M
Net Unrealized Gain on Equity Securities$1.2M$1.2M$1.2M———
Net Unrealized Loss on Equity Securities$0.0$0.0$0.0———
Equity Method Investment Dividends$0.0$7.8M$13.7M$26.9M—$6.0M
Retirement Related Income (Expense)-$3.3M-$3.4M-$2.8M-$6.7M-$7.0M-$6.7M
Interest income$6.2M$6.2M$6.2M———
Net investment gains (losses)$0.0$0.0$0.0———
Interest Expense, Borrowings$139.9M$139.9M$139.9M———
Distributions of earnings from equity method investees$0.0$7.8M$13.7M$26.9M—$6.0M
Interest costs capitalized adjustment$2.7M$2.7M$2.7M———

Income Before Tax

MetricQ2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Income (Loss) from Continuing Operations Before Income Taxes, Domestic$623.3M$623.3M$623.3M———
Income (Loss) from Continuing Operations Before Income Taxes, Foreign$85.5M$85.5M$85.5M———
Income Before Tax, Domestic$623.3M$623.3M$623.3M———
Income Before Tax, Foreign$85.5M$85.5M$85.5M———

Net Income

MetricQ2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Net income$795.7M$625.6M$294.0M$1.2B$413.0M$303.1M
Noncontrolling Interest Redemptions——$252.8M———

Revenue

MetricQ2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Debt and Equity Securities, Unrealized Gain (Loss)$1.2M$1.2M$1.2M———