QUARTERLY DATA (UNAUDITED) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
May 31, 2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Quarterly Financial Information Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| QUARTERLY DATA (UNAUDITED) | QUARTERLY DATA (UNAUDITED) Summarized quarterly data for fiscal 2026 and fiscal 2025 follows:
In the fourth quarter of fiscal 2026, we recorded a $1,500.0 million non-cash goodwill impairment charge related to our North America Pet reporting unit and $250.0 million of non-cash impairment charges related to our Nudges and True Chews brand intangible assets. Also, we recorded a $1,031.8 million non-cash pre-tax valuation loss related to the planned divestiture of our Brazil business. Additionally, we recorded $20.0 million of restructuring charges related to the multi-year organizational initiative to increase the competitiveness of our supply chain and $12.2 million of restructuring and transformation charges related to actions previously announced. In addition, after-tax loss from joint ventures was $17.6 million, primarily driven by our share of losses related to the sale of certain assets at CPW. We also recorded $14.8 million of transaction costs, primarily related to the definitive agreement to sell our Brazil business. In the fourth quarter of fiscal 2025, we approved a multi-year global transformation initiative to drive increased productivity by enhancing end-to-end business processes and recorded $70.1 million of charges. We also recorded $17.4 million of restructuring charges related to actions previously announced. Additionally, we purchased the outstanding GMC Class A Interests from the third- party holder for $252.8 million, which reflected an original capital account balance of $242.3 million and $10.5 million primarily related to capital account appreciation. We also recorded $16.2 million of transaction costs, primarily related to the definitive agreement to sell our U.S. yogurt business, and $6.7 million of integration costs related to the fiscal 2025 acquisition of Whitebridge Pet Brands and the fiscal 2024 acquisition of a pet food business in Europe.
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||