v3.25.2
Noncontrolling Interests
3 Months Ended
Aug. 24, 2025
Noncontrolling Interests [Abstract]  
Noncontrolling Interests
 
(8) Noncontrolling Interests
During
 
the
 
fourth
 
quarter
 
of
 
fiscal
 
2025,
 
we
 
purchased
 
the
 
outstanding
 
General
 
Mills
 
Cereals,
 
LLC
 
(GMC)
 
Class
 
A
 
limited
membership interests (GMC Class
 
A Interests) from the
 
third-party holder for $
252.8
 
million. The GMC Class A Interests
 
represented
our
 
principal
 
noncontrolling
 
interest. The
 
third-party
 
holder of
 
the GMC
 
Class A
 
Interests received
 
quarterly
 
preferred distributions
from
 
available
 
net
 
income
 
based
 
on
 
the
 
application
 
of
 
a
 
floating
 
preferred
 
return
 
rate
 
to
 
the
 
holder’s
 
capital
 
account
 
balance
established in the most recent
 
mark-to-market valuation. On June
 
1, 2024, the floating
 
preferred return rate was reset
 
to the sum of the
three-month Term SOFR
 
plus
261
 
basis points.