Skip to content
OpenCapital
Get started
Income StatementBalance SheetCash FlowSegments
General Mills logo

General Mills Cash Flow Statement

Operating, investing, and financing cash movements

General Mills generated $2.2B in operating cash flow over the trailing twelve months. After $575.7M in capital expenditures, free cash flow was $1.7B. Free cash flow decreased 0.3% year-over-year. Based on the Q1 2026 filing.

Net Cash From Operating (TTM)$2.2BNet Cash From Investing (TTM)$47.9MNet Cash From Financing (TTM)-$3.2BCapital Expenditures (TTM)$575.7MDepreciation And Amortization Cf (TTM)$551.7MNet Change In Cash (TTM)$484.8M
Latest FilingQ1 2026
Report Date2026-03-18
Market Cap$18.4B
P/E Ratio8.29
ROE23.8%

Investing

MetricQ2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Acquired in-process research and development$64.2M$64.2M$64.2M———
Acquisitions, net of cash acquired$0$1.4B$2M$0$0$0
Capital expenditures$160.9M$103.9M$220.2M$109.5M$143.6M$102.4M
Investments in affiliates, net——$6.7M——-$46.9M
Payment for (Proceeds from) Other Investing Activity$3.9M$1.1M$900K$1.9M$18.2M—
Payments To Acquire Businesses Gross$0$1.4B$2M$0$0$0
Proceeds from disposals of property, plant and equipment$300K$100K$100K$2.8M—$2.8M
Net cash from investing activities-$157.9M-$1.3B-$216.3M$1.7B——
Other investing activities$3.9M$1.1M$900K$1.9M$18.2M—
Proceeds from sale of businesses$0$241.8M$0$1.8B—$26.8M
Proceeds from sale of property, plant and equipment$300K$100K$100K$2.8M—$2.8M

Operating

MetricQ2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Change in accounts payable$342.8M-$403.1M$223.4M-$252.5M—-$332.2M
Change in accounts receivable———-$900K$94.6M—
Change in inventories$73.8M-$229M$78M$135.2M$7.8M-$283.6M
Change in other assets-$23.7M-$56.2M—-$36.6M—$44M
Change in other liabilities——$33.3M$409M——
Other working capital changes-$17.7M-$19.2M—$19.3M$60.6M$9M
Deferred income taxes-$27.7M-$2M-$107.4M$10M$41.6M$87.8M
Depreciation and amortization$129.5M$134.3M$135.6M$138.7M$138M$139.4M
Distributions from equity method investments$0$7.8M$13.7M$26.9M—$6M
Net gains (losses) on investments$30M$14.4M—$6.8M-$59.6M-$6.1M
Gain (loss) on sale of assets$0$95.9M$0$1.1B$0-$5M
Impairment charges$0$0—$0$96.8M$12.3M
Net cash from operating activities$1.2B$531.9M$611.6M$397M$819.3M$397.9M
Net income$795.7M$625.6M$294M$1.2B$414.3M$305.5M
Unrealized gain (loss) on debt and equity securities, net$1.2M$1.2M$1.2M———
Distributions of earnings from equity method investees$0$7.8M$13.7M$26.9M—$6M
Unrealized loss on equity security$0$0$0———
Gain on sale of business and assets$0$95.9M$0$1.1B$0-$5M
Equity in earnings (losses) of equity method investees$30M$14.4M—$6.8M-$59.6M-$6.1M
Accounts payable$342.8M-$403.1M$223.4M-$252.5M—-$332.2M
Adjustment to Reconcile Net Income to Cash Provided by (Used in) Operating Activity, Increase (Decrease) in Operating Capital-$279.9M—-$136.6M-$58.8M—$184.5M
Current liabilities——$33.3M$409M——
Increase (Decrease) in Prepaid Expense and Other Assets-$23.7M-$56.2M—-$36.6M—$44M
Non-cash operating lease expense$36.4M$36.4M$36.4M———
Payment for Pension and Other Postretirement Benefits$7.7M$7.8M$7.8M$5.2M$7.8M$8.3M
Restructuring charges, net of cash paid (Note 15)-$1.1M-$2.5M$77.7M-$2.7M$99.5M$12.3M
Pension and postretirement benefit expense-$3.3M-$3.4M-$2.8M-$6.7M-$7M-$6.7M
Pension contributions$7.7M$7.8M$7.8M$5.2M$7.8M$8.3M
Stock-based compensation$26.3M$20.5M$24.6M$15.1M$24.2M$26.3M

Financing

MetricQ2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Proceeds from issuance of debt——$854.9M——$0
Repayments of debt—$500M$800M——$698.7M
Distributions to noncontrolling interests—$4.5M———$1.4M
Dividends paid$338M$332.6M$330.3M$330.9M$327.9M$328.4M
Minority Interest Decrease From Redemptions——$252.8M———
Payments for Repurchase of Redeemable Noncontrolling Interest$63.2M$63.2M$63.2M———
Other, net-$43M-$40.5M-$11.6M-$21.7M-$12.7M-$2M
Proceeds from (Repayments of) Short-Term Debt$16.3M$142.7M$270.1M-$654.8M-$4.7M$820.4M
Net cash from financing activities$851.5M-$1B-$570.4M-$1.5B-$927M-$210.2M
Other financing activities-$43M-$40.5M-$11.6M-$21.7M-$12.7M-$2M
Proceeds from issuance of common stock$24.4M$4.6M$4.6M$200K$100K$100K
Repurchases of common stock$300.4M$301.5M$301M$500M$100K$200K
Net change in short-term borrowings$16.3M$142.7M$270.1M-$654.8M-$4.7M$820.4M

Free Cash Flow

MetricQ2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Free cash flow$989.6M$428M$391.4M$287.5M$675.7M$295.5M

Other

MetricQ2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Effect of exchange rate changes on cash-$19.4M$1.1M$17.7M$4.4M-$5.9M$20.4M
Net increase (decrease) in cash$1.8B-$1.8B-$157.4M$589M—$102.1M
Concentration Risk Credit Risk Financial Instrument Maximum Exposure$1.6M$1.6M$1.6M———
Current Income Tax Expense (Benefit)$173.7M$173.7M$173.7M———
U.S. state and local$20M$20M$20M———
Debt And Equity Securities Unrealized Loss$0$0$0———
Non-U.S.-$13.8M-$13.8M-$13.8M———
Defined Benefit Plan Year Health Care Cost Trend Rate Reaches Ultimate Trend Rate——203400.0%———
Defined Contribution Plan, Cost$24M$24M$24M———
U.S. federal statutory tax——21.0%———
Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost——-0.2%———
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Percent——2.1%———
Effective Income Tax Rate Reconciliation Tax Credits Research——1.5%———
Effectiveincometaxratereconciliationnontaxablegaindivestitures——-0.3%———
Equity Securities Fv Ni Unrealized Gain$1.2M$1.2M$1.2M———
Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Transfers Net$0$0$0———
Gross Profit$1.9B$1.6B$1.5B———
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———
Investment Income Interest$6.2M$6.2M$6.2M———
Marketable Securities Realized Gain Loss Excluding Other Than Temporary Impairments$0$0$0———
Marketing and business development$211.9M$211.9M$211.9M———
Net Earnings For Earnings Per Share Calculation$571.2M$571.2M$571.2M———
Leased assets obtained in exchange for operating lease liabilities$40.9M$40.9M$40.9M———
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period——1.3M———
Short Term Lease Cost$8.2M$8.2M$8.2M———
Unrealized Gain Loss On Interest Rate Cash Flow Hedges Pretax Accumulated Other Comprehensive Income Loss-$3M-$3M-$3M———
Unrecognized Tax Benefits, Decrease Resulting from Prior Period Tax Positions$700K$700K$700K———
Increases based on tax positions related to the current period$12.2M$12.2M$12.2M———
Unrecognized Tax Benefits, Reduction Resulting from Lapse of Applicable Statute of Limitations$1.6M$1.6M$1.6M———
Variable costs$1.9M$1.9M$1.9M———

Supplemental

MetricQ2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Pension And Other Postretirement Benefit Expense-$3.3M-$3.4M-$2.8M-$6.7M-$7M-$6.7M