GENERAL MILLS INC Leases Disclosure
Fiscal Year | |||
In Millions | 2026 | 2025 | 2024 |
Operating lease cost | $138.5 | $145.7 | $128.9 |
Variable lease cost | 6.8 | 7.5 | 8.9 |
Short-term lease cost | 31.1 | 32.6 | 32.2 |
In Millions | Operating Leases | Finance Leases |
Fiscal 2027 | $118.4 | $0.4 |
Fiscal 2028 | 100.3 | — |
Fiscal 2029 | 78.5 | — |
Fiscal 2030 | 51.4 | — |
Fiscal 2031 | 38.3 | — |
After fiscal 2031 | 69.3 | — |
Total noncancelable future lease obligations | $456.2 | $0.4 |
Less: Interest | (53.8) | — |
$402.4 | $0.4 |
May 31, 2026 | May 25, 2025 | |
Weighted-average remaining lease term | 5.0 years | 5.0 years |
Weighted-average discount rate | 4.7% | 4.9% |
Fiscal Year | ||
In Millions | 2026 | 2025 |
Cash paid for amounts included in the measurement of lease liabilities | $140.6 | $152.7 |
Right of use assets obtained in exchange for new lease liabilities | $97.6 | $163.4 |
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Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2026 | Jul 1, 2026 | Showing above |
| 2025 | Jun 26, 2025 | |
| 2024 | Jun 26, 2024 | |
| 2023 | Jun 28, 2023 | |
| 2022 | Jun 30, 2022 | |
| 2021 | Jun 30, 2021 | |
| 2020 | Jul 2, 2020 | |
| 2019 | Jun 28, 2019 | |
| 2018 | Jun 29, 2018 | |
| 2017 | Jun 29, 2017 | |
| 2016 | Jun 30, 2016 | |
About Leases Disclosures
Lease disclosures under ASC 842 provide a comprehensive view of a company's leased asset portfolio, including the split between operating and finance leases, discount rates used to present-value future payments, and the maturity schedule of lease obligations. This section reveals a significant source of off-balance-sheet commitments that were largely hidden before the current standard.
Key signals: the weighted-average discount rate affects the size of recorded lease liabilities — a higher rate reduces the reported obligation, so compare the chosen rate against the company's incremental borrowing rate. The operating versus finance lease mix affects both EBITDA and operating income presentation. Watch the maturity table for concentration risk: large payment cliffs in specific years may create cash flow pressure. Variable lease payments excluded from the liability measurement represent real obligations that do not appear on the balance sheet. Compare total lease costs against prior-year operating lease expense to assess the true economic burden.