| May 26, 2013 | May 26, 2013 | ||||||||||||||||
| Fair Values of Assets | Fair Values of Liabilities | ||||||||||||||||
| In Millions | Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | Total | |||||||||
| Derivatives designated as hedging instruments: | |||||||||||||||||
| Interest rate contracts (a) (b) | $ | - | $ | 10.3 | $ | - | $ | 10.3 | $ | - | $ | - | $ | - | $ | - | |
| Foreign exchange contracts (c) (d) | - | 15.7 | - | 15.7 | - | (1.6) | - | (1.6) | |||||||||
| Total | - | 26.0 | - | 26.0 | - | (1.6) | - | (1.6) | |||||||||
| Derivatives not designated as hedging instruments: | |||||||||||||||||
| Foreign exchange contracts (c) (d) | - | 6.7 | - | 6.7 | - | (0.1) | - | (0.1) | |||||||||
| Equity contracts (a) (e) | - | - | - | - | - | (0.2) | - | (0.2) | |||||||||
| Commodity contracts (c) (e) | 10.3 | 3.1 | - | 13.4 | - | (3.9) | - | (3.9) | |||||||||
| Grain contracts (c) (e) | - | 7.5 | - | 7.5 | - | (30.4) | - | (30.4) | |||||||||
| Total | 10.3 | 17.3 | - | 27.6 | - | (34.6) | - | (34.6) | |||||||||
| Other assets and liabilities reported at fair value: | |||||||||||||||||
| Marketable investments (a) (f) | 6.4 | 134.1 | - | 140.5 | - | - | - | - | |||||||||
| Total | 6.4 | 134.1 | - | 140.5 | - | - | - | - | |||||||||
| Total assets, liabilities, and derivative positions recorded at fair value | $ | 16.7 | $ | 177.4 | $ | - | $ | 194.1 | $ | - | $ | (36.2) | $ | - | $ | (36.2) | |
(a) These contracts and investments are recorded as prepaid expenses and other current assets, other assets, other current liabilities or other liabilities, as appropriate, based on whether in a gain or loss position. Certain marketable investments are recorded as cash and cash equivalents.
(b) Based on LIBOR and swap rates.
(c) These contracts are recorded as prepaid expenses and other current assets or as other current liabilities, as appropriate, based on whether in a gain or loss position.
(d) Based on observable market transactions of spot currency rates and forward currency prices.
(e) Based on prices of futures exchanges and recently reported transactions in the marketplace.
(f) Based on prices of common stock and bond matrix pricing.
| May 27, 2012 | May 27, 2012 | ||||||||||||||||
| Fair Values of Assets | Fair Values of Liabilities | ||||||||||||||||
| In Millions | Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | Total | |||||||||
| Derivatives designated as hedging instruments: | |||||||||||||||||
| Interest rate contracts (a) (b) | $ | - | $ | 5.7 | $ | - | $ | 5.7 | $ | - | $ | - | $ | - | $ | - | |
| Foreign exchange contracts (c) (d) | - | 11.5 | - | 11.5 | - | (18.8) | - | (18.8) | |||||||||
| Total | - | 17.2 | - | 17.2 | - | (18.8) | - | (18.8) | |||||||||
| Derivatives not designated as hedging instruments: | |||||||||||||||||
| Interest rate contracts (a) (b) | - | 0.5 | - | 0.5 | - | - | - | - | |||||||||
| Foreign exchange contracts (c) (d) | - | 6.6 | - | 6.6 | - | (1.1) | - | (1.1) | |||||||||
| Equity contracts (a) (e) | - | - | - | - | - | (0.1) | - | (0.1) | |||||||||
| Commodity contracts (c) (e) | 8.0 | 1.0 | - | 9.0 | - | (15.1) | - | (15.1) | |||||||||
| Grain contracts (c) (e) | - | 8.3 | - | 8.3 | - | (20.6) | - | (20.6) | |||||||||
| Total | 8.0 | 16.4 | - | 24.4 | - | (36.9) | - | (36.9) | |||||||||
| Other assets and liabilities reported at fair value: | |||||||||||||||||
| Marketable investments (a) (f) | 5.3 | 52.3 | - | 57.6 | - | - | - | - | |||||||||
| Total | 5.3 | 52.3 | - | 57.6 | - | - | - | - | |||||||||
| Total assets, liabilities, and derivative positions recorded at fair value | $ | 13.3 | $ | 85.9 | $ | - | $ | 99.2 | $ | - | $ | (55.7) | $ | - | $ | (55.7) | |
(a) These contracts and investments are recorded as prepaid expenses and other current assets, other assets, other current liabilities or other liabilities, as appropriate, based on whether in a gain or loss position. Certain marketable investments are recorded as cash and cash equivalents.
(b) Based on LIBOR and swap rates.
(c) These contracts are recorded as prepaid expenses and other current assets or as other current liabilities, as appropriate, based on whether in a gain or loss position.
(d) Based on observable market transactions of spot currency rates and forward currency prices.
(e) Based on prices of futures exchanges and recently reported transactions in the marketplace.
(f) Based on prices of common stock and bond matrix pricing.