SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
AMENDED FORM 10-Q
(Mark One)
/X/ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED NOVEMBER 29, 1998
/ / TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM _____ TO _____
Commission file number: 1-1185
GENERAL MILLS, INC.
(Exact name of registrant as specified in its charter)
Delaware 41-0274440
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
Number One General Mills Boulevard
Minneapolis, MN 55426
(Mail: P.O. Box 1113) (Mail: 55440)
(Address of principal executive offices) (Zip Code)
(612) 540-2311
(Registrant's telephone number, including area code)
Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the registrant was
required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days. Yes X No ___
Item 5. Other Information.
This report contains certain forward-looking statements which are based on
management's current views and assumptions regarding future events and financial
performance. These statements are qualified by reference to the section
"Cautionary Statement Relevant to Forward-Looking Information" in Item 1 of our
Annual Report on Form 10-K for the fiscal year ended May 31, 1998, which lists
important factors that could cause actual results to differ materially from
those discussed in this report.
Item 6. Exhibits and Reports on Form 8-K.
(a) Exhibits
Exhibit 11 Statement of Computation of Earnings per Share.
Exhibit 12 Statement of Ratio of Earnings to Fixed Charges.
Exhibit 27 Financial Data Schedule.
(b) Reports on Form 8-K
The Company did not file any reports on Form 8-K during the second
quarter of fiscal 1999.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
GENERAL MILLS, INC.
(Registrant)
Date January 8, 1999 /s/ S. S. Marshall
--------------- -------------------------------------
S. S. Marshall
Senior Vice President,
General Counsel
Date January 8, 1999 /s/ K. L. Thome
--------------- -------------------------------------
K. L. Thome
Senior Vice President,
Financial Operations
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from our
Form 10-Q for the twenty-six week period ended November 29, 1998, and is
qualified in its entirety by reference to such financial statements.
</LEGEND>
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> MAY-30-1999
<PERIOD-START> JUN-1-1998
<PERIOD-END> NOV-29-1998
<CASH> 9,500,000
<SECURITIES> 0
<RECEIVABLES> 468,400,000
<ALLOWANCES> 0
<INVENTORY> 438,400,000
<CURRENT-ASSETS> 1,113,600,000
<PP&E> 2,592,000,000
<DEPRECIATION> (1,367,200,000)
<TOTAL-ASSETS> 4,020,800,000
<CURRENT-LIABILITIES> 1,650,700,000
<BONDS> 1,592,800,000
0
0
<COMMON> 626,800,000
<OTHER-SE> (429,500,000)
<TOTAL-LIABILITY-AND-EQUITY> 4,020,800,000
<SALES> 3,150,500,000
<TOTAL-REVENUES> 3,150,500,000
<CGS> 1,282,700,000
<TOTAL-COSTS> 1,282,700,000
<OTHER-EXPENSES> 0
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 59,200,000
<INCOME-PRETAX> 455,100,000
<INCOME-TAX> 166,800,000
<INCOME-CONTINUING> 288,600,000
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 288,600,000
<EPS-PRIMARY> 1.88
<EPS-DILUTED> 1.84
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from our
Form 10-Q for the twenty-six week period ended November 23, 1997, and is
qualified in its entirety by reference to such financial statements.
</LEGEND>
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> MAY-31-1998
<PERIOD-START> MAY-26-1997
<PERIOD-END> NOV-23-1997
<CASH> 29,900,000
<SECURITIES> 0
<RECEIVABLES> 442,800,000
<ALLOWANCES> 0
<INVENTORY> 471,600,000
<CURRENT-ASSETS> 1,159,600,000
<PP&E> 2,416,800,000
<DEPRECIATION> (1,243,900,000)
<TOTAL-ASSETS> 3,949,100,000
<CURRENT-LIABILITIES> 1,384,900,000
<BONDS> 1,596,900,000
0
0
<COMMON> 596,800,000
<OTHER-SE> (207,600,000)
<TOTAL-LIABILITY-AND-EQUITY> 3,949,100,000
<SALES> 3,054,800,000
<TOTAL-REVENUES> 3,054,800,000
<CGS> 1,272,100,000
<TOTAL-COSTS> 1,272,100,000
<OTHER-EXPENSES> 0
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 58,500,000
<INCOME-PRETAX> 311,900,000
<INCOME-TAX> 113,100,000
<INCOME-CONTINUING> 198,900,000
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 198,900,000
<EPS-PRIMARY> 1.25
<EPS-DILUTED> 1.22
</TABLE>
