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General Mills (NYSE:GIS) Cost of Goods Sold

: $13,041 Mil (TTM As of Nov. 2022)
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General Mills's cost of goods sold for the three months ended in Nov. 2022 was $3,516 Mil. Its cost of goods sold for the trailing twelve months (TTM) ended in Nov. 2022 was $13,041 Mil.

Cost of Goods Sold is directly linked to profitability of the company through Gross Margin. General Mills's Gross Margin % for the three months ended in Nov. 2022 was 32.66%.

Cost of Goods Sold is also directly linked to Inventory Turnover. General Mills's Inventory Turnover for the three months ended in Nov. 2022 was 1.67.


General Mills Cost of Goods Sold Historical Data

The historical data trend for General Mills's Cost of Goods Sold can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

General Mills Annual Data
Trend May13 May14 May15 May16 May17 May18 May19 May20 May21 May22
Cost of Goods Sold
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 10,304.80 11,108.40 11,496.70 11,678.70 12,590.60

General Mills Quarterly Data
Feb18 May18 Aug18 Nov18 Feb19 May19 Aug19 Nov19 Feb20 May20 Aug20 Nov20 Feb21 May21 Aug21 Nov21 Feb22 May22 Aug22 Nov22
Cost of Goods Sold Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 3,392.80 3,134.00 3,121.30 3,269.90 3,515.60

General Mills Cost of Goods Sold Calculation

Cost of Goods Sold is the aggregate cost of goods produced and sold, and services rendered during the reporting period. It excludes Total Operating Expense, such as Depreciation, Depletion and Amortization and Selling, General, & Admin. Expense.

Cost of Goods Sold for the trailing twelve months (TTM) ended in Nov. 2022 adds up the quarterly data reported by the company within the most recent 12 months, which was $13,041 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.


General Mills  (NYSE:GIS) Cost of Goods Sold Explanation

Cost of Goods Sold is directly linked to profitability of the company through Gross Margin.

General Mills's Gross Margin % for the three months ended in Nov. 2022 is calculated as:

Gross Margin %=(Revenue - Cost of Goods Sold) / Revenue
=(5220.7 - 3515.6) / 5220.7
=32.66 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

A company that has a moat can usually maintain or even expand their Gross Margin. A company can increase its Gross Margin in two ways. It can increase the prices of the goods it sells and keeps its Cost of Goods Sold unchanged. Or it can keep the sales price unchanged and squeeze its suppliers to reduce the Cost of Goods Sold. Warren Buffett believes businesses with the power to raise prices have moats.

Cost of Goods Sold is also directly linked to another concept called Inventory Turnover:

General Mills's Inventory Turnover for the three months ended in Nov. 2022 is calculated as:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Inventory Turnover measures how fast the company turns over its inventory within a year. A higher inventory turnover means the company has light inventory. Therefore the company spends less money on storage, write downs, and obsolete inventory. If the inventory is too light, it may affect sales because the company may not have enough to meet demand.

Usually retailers pile up their inventories at holiday seasons to meet the stronger demand. Therefore, the inventory of a particular quarter of a year should not be used to calculate inventory turnover. An average inventory is a better indication.


General Mills Cost of Goods Sold Related Terms

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General Mills (NYSE:GIS) Business Description

General Mills logo
Traded in Other Exchanges
Address
Number One General Mills Boulevard, Minneapolis, MN, USA, 55426
General Mills is a leading global packaged food company that produces snacks, cereal, convenient meals, yogurt, dough, baking mixes and ingredients, pet food, and superpremium ice cream. Its largest brands are Nature Valley, Cheerios, Old El Paso, Yoplait, Pillsbury, Betty Crocker, BLUE, and Haagen-Dazs. In fiscal 2022, 77% of its revenue was derived from the United States, although the company also operates in Canada, Europe, Australia, Asia, and Latin America. While most of General Mills' products are sold through retail stores to consumers, the company also sells products into the food-service channel and the commercial baking industry.
Executives
C Kim Goodwin director C/O AKAMAI TECHNOLOGIES, INC., 8 CAMBRIDGE CENTER, CAMBRIDGE MA 02142
Karen Wilson Thissen officer: General Counsel & Secretary 1098 AMERIPRISE FINANCIAL CENTER, MINNEAPOLIS MN 55474
Paul Joseph Gallagher officer: Chief Supply Chain Officer 1 GENERAL MILLS BLVD, MINNEAPOLIS MN 55426
Jaime Montemayor officer: Chief Technology Officer NUMBER ONE GENERAL MILLS BLVD, MINNEAPOLIS MN 55426
Mark A Pallot officer: Chief Accounting Officer NUMBER ONE GENERAL MILLS BLVD, MINNEAPOLIS MN 55426
Jo Ann Jenkins director 2211 SOUTH 47TH STREET, PHOENIX AZ 85034
Dana M Mcnabb officer: Group President NUMBER ONE GENERAL MILLS BLVD, MINNEAPOLIS MN 55426
Elizabeth Cahill Lempres director TWO COMMERCE SQUARE, 2001 MARKET STREET, SUITE 3600, PHILADELPHIA PA 19103
Sean N Walker officer: Group President NUMBER ONE GENERAL MILLS BLVD, MINNEAPOLIS MN 55426
Diane L Neal director
Jodi J Benson officer: Chief Innovation Officer GENERAL MILLS, INC., ONE GENERAL MILLS BLVD, MINNEAPOLIS MN 55426
Maria Sastre director C/O DARDEN RESTAURANTS, INC., 1000 DARDEN CENTER DRIVE, ORLANDO FL 32837
Bishop William W Jr officer: Group President C/O BLUE BUFFALO PET PRODUCTS, INC., 11 RIVER ROAD, WILTON CT 06897
Kofi A Bruce officer: Vice President GENERAL MILLS, INC., ONE GENERAL MILLS BLVD., MINNEAPOLIS MN 55426
Ivan Pollard officer: Senior Vice President GENERAL MILLS, INC., ONE GENERAL MILLS BLVD., MINNEAPOLIS MN 55426

General Mills (NYSE:GIS) Headlines

Other Sources

General Mills Quarterly Dividend Declared

By Yahoo Finance 2023-01-30

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