General Mills, Inc. · NYSE:GIS
General Mills — Investor Day (July 2015)
10 slides from General Mills's investor day presentation, Jul 14, 2015
Slide 1: Reconciliation of Total International Segment Net Sales
Reconciliation of Total International Segment Net _ Sales, Including Proportionate Share of J V Net. Sales (Fiscal Years, $ in Billions) 2015 2005 JV Net Sales $1.1 $0.9 International Segment Net Sales $5.1 $1.7 Total International Net Sales, Including Proportionate Share of JV net sales $6.2 $2.6 F
Slide 2: Reconciliation of Adjusted Gross Margin
Reconciliation of Adjusted Gross ss Margin (Fiscal Years, $ in Mill in Mi llions) 2015 2014 2013 2012 2011 2010 2009 2008 _ Net Sales $17,630 $17,910 $17,774 $16,658 $14,880 $14,636 $14,556 $13,548 Gross Margin as Reported $5,949 $6,370 $6,424 $6,045 $5,954 $5,800 $5,175 $4,816 Mark-to-market Effect
Slide 3: Reconciliation of Free Cash Flow
Reconciliation of Free Cash F low (Fiscal Years, $ in Mill in Millions) 2015 2014 2013 2012 2011 Net Earnings, Including Earnings Attributable to Redeemable and Noncontrolling Interests $1,259 $1,861 $1,893 $1,589 $1,804 Net Cash Provided by Operating Activities, As Reported $2,543 $2,541 $2,926 $2,
Slide 4: Return on Average Total Capital
Reconciliation of Return on Average Total Capital ($ in Millions) Fiscal Year 2015 2014 2013 2012 2011 Net Earnings, Including Earnings Attributable to Redeemable and Noncontrolling Interests $1,259 $1,861 $1,892 $1,589 Interest, Net, After-tax 200 191 201 239 Earnings Before Interest, After-tax 1,4
Slide 5: Full Year Constant-currency International Segment Operating Profit Growth
Reconciliation of Full Year Constant-currency International Segment Operating Profit Growth Fiscal 2015 % Change % Change Impact of Foreign on a Constant- as Reported Currency Exchange currency Basis International Segment Operating Profit -2% -11 pts +9% 7990-129
Slide 6: Cereal Business Net Sales
Reconciliation of Cereal Business Net Sales —— =~ —EEE (Fiscal Year) 2015 Consolidated Cereal Net Sales $2,770 Share of CPW Net Sales $950 Total Cereal Net Sales $3,720 SS Seema — = ~ ec 7990-130
Slide 7: Tax Rate Excluding Items
Reconciliation of Tax Rate Excluding Items _ (Fiscal Year, $ in Millions) 2015 Pre-tax Income Earnings* Taxes As Reported $1,762 $587 Mark-to-market effects 90 33: Restructuring Charges 344 126 Project-related Costs 13 5 Venezuela Currency Devaluation 8 -- Acquisition Integration Costs 16 6 Tax Item
Slide 8: Total Segment Operating Profit Dollars and Margin
(Fiscal Year, $ in Mi llions) U.S. Retail International Convenience Stores & Foodservice Total Segment Operating Profit Unallocated Corporate Items Restructuring, Impairment, and Other Exit Costs Operating Profit Reconciliation of Full Year Total Segment Operating Profit Dollars and Margin % of Net
Slide 9: Full Year Constant-currency International Net Sales Growth
Reconciliation of Full Year Constant-currency International Net Sales Growth (Fiscal Year) 2015 % Change in % Change in Net Sales Net Sales Impact of Foreign on a Constant- as Reported Currency Exchange currency Basis Europe -3% -8 pts 5% anada -8 -8 Flat sia/Pacific 4 -] 5 5 atin America -14 -3] 17
Slide 10: Full Year Adjusted Diluted EPS
Reconciliation of Full Year Adjusted Diluted EPS i — (Fiscal Year) 2015 Diluted EPS $1.97 Mark-to-market Effects 09 Intangible Asset Impairment 28 Tax Item ald Restructuring Costs 35 Project-related Costs 01 Venezuela Currency Devaluation 01 Acquisition Integration Costs 02 Adjusted Diluted EPS $2.8