Conagra Brands Files 2024 10-K
Ticker: CAG · Form: 10-K · Filed: Jul 11, 2024 · CIK: 23217
Sentiment: neutral
Topics: 10-K, annual-report, financials
TL;DR
Conagra Brands filed its 2024 10-K, detailing financials for the year ending May 26.
AI Summary
Conagra Brands Inc. filed its 10-K for the fiscal year ending May 26, 2024, reporting on its financial performance and business operations. The company, headquartered at 222 W. Merchandise Mart Plaza, Suite 1300, Chicago, IL 60654, is a major player in the Food & Kindred Products industry. This filing provides a comprehensive overview of its financial health and strategic direction for investors and stakeholders.
Why It Matters
This 10-K filing provides crucial financial details and operational insights for Conagra Brands, impacting investor decisions and market analysis for its stock.
Risk Assessment
Risk Level: medium — This is a standard annual financial filing providing historical data and forward-looking statements, typical for a publicly traded company.
Key Players & Entities
- CONAGRA BRANDS INC. (company) — Filer
- 20240526 (date) — Fiscal Year End
- 222 W. MERCHANDISE MART PLAZA (address) — Business Address
- CHICAGO (location) — Business City
- IL (location) — Business State
- 60654 (zip_code) — Business Zip
- 312-549-5000 (phone_number) — Business Phone
FAQ
What is Conagra Brands Inc.'s fiscal year end?
Conagra Brands Inc.'s fiscal year ends on 0526.
What is the SEC file number for Conagra Brands Inc.'s 10-K?
The SEC file number is 001-07275.
What is the primary industry classification for Conagra Brands Inc.?
The primary industry classification is FOOD & KINDRED PRODUCTS [2000].
Where is Conagra Brands Inc. headquartered?
Conagra Brands Inc. is headquartered at 222 W. Merchandise Mart Plaza, Suite 1300, Chicago, IL 60654.
When was the current 10-K filing submitted?
The filing was submitted on 20240711.
Filing Stats: 4,405 words · 18 min read · ~15 pages · Grade level 15.3 · Accepted 2024-07-11 16:30:44
Key Financial Figures
- $5.00 — nge on which registered Common Stock, $5.00 par value CAG New York Stock Exchan
Filing Documents
- tmb-20240526x10k.htm (10-K) — 4193KB
- tmb-20240526xex19.htm (EX-19) — 75KB
- tmb-20240526xex21.htm (EX-21) — 14KB
- tmb-20240526xex23.htm (EX-23) — 2KB
- tmb-20240526xex31d1.htm (EX-31.1) — 10KB
- tmb-20240526xex31d2.htm (EX-31.2) — 10KB
- tmb-20240526xex32.htm (EX-32) — 10KB
- tmb-20240526xex97.htm (EX-97) — 44KB
- tmb-20240526xex19001.jpg (GRAPHIC) — 7KB
- tmb-20240526xex19002.jpg (GRAPHIC) — 8KB
- 0001558370-24-009764.txt ( ) — 20783KB
- tmb-20240526.xsd (EX-101.SCH) — 101KB
- tmb-20240526_cal.xml (EX-101.CAL) — 105KB
- tmb-20240526_def.xml (EX-101.DEF) — 438KB
- tmb-20240526_lab.xml (EX-101.LAB) — 913KB
- tmb-20240526_pre.xml (EX-101.PRE) — 775KB
- tmb-20240526x10k_htm.xml (XML) — 5131KB
Business
Business 1 Item 1A
Risk Factors
Risk Factors 7 Item 1B Unresolved Staff Comments 20 Item 1C Cybersecurity 20 Item 2
Properties
Properties 22 Item 3
Legal Proceedings
Legal Proceedings 23 Item 4 Mine Safety Disclosures 23 PART II 24 Item 5 Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 24 Item 6 [Reserved] 24 Item 7
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 24 Item 7A
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 36 Item 8
Financial Statements and Supplementary Data
Financial Statements and Supplementary Data 38 Consolidated Statements of Earnings for the Fiscal Years Ended May 2024, 2023, and 2022 38 Consolidated Statements of Comprehensive Income for the Fiscal Years Ended May 2024, 2023, and 2022 39 Consolidated Balance Sheets as of May 26, 2024 and May 28, 2023 40 Consolidated Statements of Common Stockholders' Equity for the Fiscal Years Ended May 2024, 2023 and 2022 41 Consolidated Statements of Cash Flows for the Fiscal Years Ended May 2024, 2023, and 2022 42
Notes to Consolidated Financial Statements
Notes to Consolidated Financial Statements 43 Item 9 Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 81 Item 9A
Controls and Procedures
Controls and Procedures 81 Item 9B Other Information 82 Item 9C Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 82 PART III 83 Item 10 Directors, Executive Officers and Corporate Governance 83 Item 11
Executive Compensation
Executive Compensation 83 Item 12
Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters
Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 83 Item 13 Certain Relationships and Related Transactions, and Director Independence 84 Item 14 Principal Accountant Fees and Services 84 PART IV 85 Item 15 Exhibits and Financial Statement Schedules 85 Item 16 Form 10-K Summary 89
Signatures
Signatures 90 Table of Contents PART I This annual report on Form 10-K contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Actual results, performance, or achievements could differ materially from those projected in the forward-looking statements as a result of a number of risks, uncertainties, and other factors. For a discussion of important factors that could cause our results, performance, or achievements to differ materially from any future results, performance, or achievements expressed or implied by our forward-looking statements, please refer to Item 1A, Risk Factors and Item 7, Management's Discussion and Analysis of Financial Condition and Results of Operations below.
BUSINESS
ITEM 1. BUSINESS General Development of Business Conagra Brands, Inc. (the "Company", "Conagra Brands", "we", "us", or "our"), headquartered in Chicago, is one of North America's leading branded food companies. We combine a 100-year history of making quality food with agility and a relentless focus on collaboration and innovation. The company's portfolio is continuously evolving to satisfy consumers' ever-changing food preferences. Conagra's brands include Birds Eye , Duncan Hines , Healthy Choice , Marie Callender's , Reddi-wip , Slim Jim , Angie's BOOMCHICKAPOP , and many more. We began as a Midwestern flour-milling company and entered other commodity-based businesses throughout our history. We were initially incorporated as a Nebraska corporation in 1919 and reincorporated as a Delaware corporation in 1976. Over time, we transformed into the branded, pure-play consumer packaged goods food company we are today. Growing our food businesses has also been fueled by innovation, organic growth of our brands, and expansion into adjacent categories, including through acquisitions. We are focused on delivering sustainable, profitable growth with strong and improving returns on our invested capital. Narrative Description of Business We compete throughout the food industry and focus on adding value for our customers who operate in the retail food and foodservice channels. Our operations, including our reporting segments, are described below. Our locations, including manufacturing facilities, within each reporting segment, are described in Item 2, Properties . Reporting Segments Our reporting segments are as follows: Grocery & Snacks The Grocery & Snacks reporting segment principally includes branded, shelf-stable food products sold in various retail channels in the United States. Refrigerated & Frozen The Refrigerated & Frozen reporting segment principally includes branded, temperature-controlled food products sold in various retail channels in the United State