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General Mills (NYSE:GIS) Effective Interest Rate on Debt %

: 3.87% (As of Feb. 2024)
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Effective Interest Rate on Debt % is the usage rate that a borrower actually pays on a debt. It is calculated as the positive value of Interest Expense divided by its average total debt. Total debt equals to Long-Term Debt & Capital Lease Obligation plus Short-Term Debt & Capital Lease Obligation. General Mills's annualized positive value of Interest Expense for the quarter that ended in Feb. 2024 was $487 Mil. General Mills's average total debt for the quarter that ended in Feb. 2024 was $12,582 Mil. Therefore, General Mills's annualized Effective Interest Rate on Debt % for the quarter that ended in Feb. 2024 was 3.87%.


General Mills Effective Interest Rate on Debt % Historical Data

The historical data trend for General Mills's Effective Interest Rate on Debt % 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 May14 May15 May16 May17 May18 May19 May20 May21 May22 May23
Effective Interest Rate on Debt %
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 3.48 3.33 3.18 3.07 3.30

General Mills Quarterly Data
May19 Aug19 Nov19 Feb20 May20 Aug20 Nov20 Feb21 May21 Aug21 Nov21 Feb22 May22 Aug22 Nov22 Feb23 May23 Aug23 Nov23 Feb24
Effective Interest Rate on Debt % 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 3.37 3.54 3.84 3.78 3.87

Competitive Comparison

For the Packaged Foods subindustry, General Mills's Effective Interest Rate on Debt %, along with its competitors' market caps and Effective Interest Rate on Debt % data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


General Mills Effective Interest Rate on Debt % Distribution

For the Consumer Packaged Goods industry and Consumer Defensive sector, General Mills's Effective Interest Rate on Debt % distribution charts can be found below:

* The bar in red indicates where General Mills's Effective Interest Rate on Debt % falls into.



General Mills Effective Interest Rate on Debt % Calculation

General Mills's annualized Effective Interest Rate on Debt % for the fiscal year that ended in May. 2023 is calculated as

Effective Interest Rate on Debt %
=-1  *  Interest Expense/( (Total Debt  (A: May. 2022 )+Total Debt  (A: May. 2023 ))/ count )
=-1  *  -396.1/( (11975.4+12064.8)/ 2 )
=-1  *  -396.1/12020.1
=3.30 %

where

Total Debt  (A: May. 2022 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=9383.1 + 2592.3
=11975.4

Total Debt  (A: May. 2023 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=10222.1 + 1842.7
=12064.8

General Mills's annualized Effective Interest Rate on Debt % for the quarter that ended in Feb. 2024 is calculated as

Effective Interest Rate on Debt %
=-1  *  Interest Expense/( (Total Debt  (Q: Nov. 2023 )+Total Debt  (Q: Feb. 2024 ))/ count )
=-1  *  -486.8/( (12650.7+12514)/ 2 )
=-1  *  -486.8/12582.35
=3.87 %

where

Total Debt  (Q: Nov. 2023 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=10530.5 + 2120.2
=12650.7

Total Debt  (Q: Feb. 2024 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=11015.1 + 1498.9
=12514

* 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.

In the calculation of annual Effective Interest Rate on Debt %, the Interest Expense of the last fiscal year and the average total debt over the fiscal year are used. In calculating the quarterly data, the Interest Expense data used here is four times the quarterly (Feb. 2024) interest expense data. Effective Interest Rate on Debt % is displayed in the 30-year financial page.


General Mills  (NYSE:GIS) Effective Interest Rate on Debt % Explanation

Effective Interest Rate on Debt % measures the usage rate that a borrower actually pays on a debt.


General Mills Effective Interest Rate on Debt % Related Terms

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General Mills (NYSE:GIS) Business Description

Address
Number One General Mills Boulevard, Minneapolis, MN, USA, 55426
General Mills is a 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 Buffalo, and Haagen-Dazs. In fiscal 2023, 81% 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 to the foodservice channel and the commercial baking industry.
Executives
Werner Lanette Shaffer officer: Chief Innovation Officer ONE GENERAL MILLS BLVD., MINNEAPOLIS MN 55426
David Cordani director THE CIGNA GROUP, 900 COTTAGE GROVE ROAD, BLOOMFIELD CT 06002
Mark A Pallot officer: Chief Accounting Officer NUMBER ONE GENERAL MILLS BLVD, MINNEAPOLIS MN 55426
Jodi J Benson officer: Chief Innovation Officer GENERAL MILLS, INC., ONE GENERAL MILLS BLVD, MINNEAPOLIS MN 55426
Jacqueline Williams-roll officer: Senior Vice President GENERAL MILLS, INC., ONE GENERAL MILLS BLVD, MINNEAPOLIS MN 55426
Bethany C. Quam officer: Group President GENERAL MILLS, INC., ONE GENERAL MILLS BLVD., MINNEAPOLIS MN 55426
Jonathon Nudi officer: Senior Vice President GENERAL MILLS, INC., ONE GENERAL MILLS BLVD, MINNEAPOLIS MN 55426
Sean N Walker officer: Group President NUMBER ONE GENERAL MILLS BLVD, MINNEAPOLIS MN 55426
Shawn P Ogrady officer: SVP, Pres, Consumer Food Sales ONE GENERAL MILLS BLVD, MINNEAPOLIS MN 55426
Jeffrey L Harmening officer: Executive Vice President ONE GENERAL MILLS BLVD, MINNEAPOLIS MN 55426
Dana M Mcnabb officer: Group President NUMBER ONE GENERAL MILLS BLVD, MINNEAPOLIS MN 55426
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
John R Church officer: SVP, Supply Chain ONE GENERAL MILLS BLVD, MINNEAPOLIS MN 55426
Richard C Allendorf officer: Senior Vice President GENERAL MILLS, INC., ONE GENERAL MILLS BLVD., MINNEAPOLIS MN 55426