General Mills (NYSE:GIS) Total Inventories

: $2,229 Mil (As of Aug. 2023)

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General Mills's total inventories for the quarter that ended in Aug. 2023 was $2,229 Mil. General Mills's average total inventories from the quarter that ended in May. 2023 to the quarter that ended in Aug. 2023 was $2,200 Mil.

In Ben Graham's calculation of Net-Net Working Capital, inventory is only considered worth half of its book value. General Mills's Net-Net Working Capital per share for the quarter that ended in Aug. 2023 was $-31.16.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. General Mills's Days Inventory for the three months ended in Aug. 2023 was 64.06.

Inventory Turnover measures how fast the company turns over its inventory within a year. General Mills's Inventory Turnover for the quarter that ended in Aug. 2023 was 1.42.

Inventory-to-Revenue determines the ability of a company to manage their inventory levels. It measures the percentage of Inventories the company currently has on hand to support the current amount of Revenue. General Mills's Inventory-to-Revenue for the quarter that ended in Aug. 2023 was 0.45.

General Mills Total Inventories Historical Data

The historical data trend for General Mills's Total Inventories 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.

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General Mills Annual Data

Trend

May14

May15

May16

May17

May18

May19

May20

May21

May22

May23

Total Inventories

1,559.30

1,426.30

1,820.50

1,867.30

2,172.00

General Mills Quarterly Data
	Nov18	Feb19	May19	Aug19	Nov19	Feb20	May20	Aug20	Nov20	Feb21	May21	Aug21	Nov21	Feb22	May22	Aug22	Nov22	Feb23	May23	Aug23
Total Inventories																2,089.90	2,121.30	2,083.30	2,172.00	2,228.80

General Mills Total Inventories Calculation

Total Inventories includes the raw materials, work-in-process goods and completely finished goods of a company. It is a portion of a company's current assets.

General Mills (NYSE:GIS) Total Inventories Explanation

Inventory control is an important part of business operation. If a company does not have enough inventory, it may not be able to meet customers' required delivery time. If it has too much inventory, the cost of holding the inventory can be high.

1. In Ben Graham's calculation of Net-Net Working Capital (NNWC), inventory is only considered worth half of its book value.

General Mills's Net-Net Working Capital Per Share for the quarter that ended in Aug. 2023 is

	Net-Net Working Capital Per Share (Q: Aug. 2023 )
=	(Cash And Cash Equivalents	+	0.75 * Accounts Receivable	+	0.5 * Total Inventories	-	Total Liabilities
-	Preferred Stock	-	Minority Interest)	/	Shares Outstanding (EOP)
=	(490.9	+	0.75 * 1791.1	+	0.5 * 2228.8	-	20804.3
-	0	-	253)	/	581.2
=	-31.16

2. Days Inventory indicates the number of days of goods in sales that a company has in the inventory.

General Mills's Days Inventory for the three months ended in Aug. 2023 is calculated as:

Days Inventory	=	Average Total Inventories (Q: Aug. 2023 )	/	Cost of Goods Sold (Q: Aug. 2023 )	*	Days in Period
	=	2200.4	/	3134.2	*	365 / 4
	=	64.06

3. Inventory Turnover measures how fast the company turns over its inventory within a year.

General Mills's Inventory Turnover for the quarter that ended in Aug. 2023 is calculated as

Inventory Turnover	=	Cost of Goods Sold (Q: Aug. 2023 )	/	Average Total Inventories (Q: Aug. 2023 )
	=	3134.2	/	2200.4
	=	1.42

4. Inventory-to-Revenue determines the ability of a company to manage their inventory levels. It measures the percentage of Inventories the company currently has on hand to support the current amount of Revenue.

General Mills's Inventory to Revenue for the quarter that ended in Aug. 2023 is calculated as

Inventory-to-Revenue	=	Average Total Inventories (Q: Aug. 2023 )	/	Revenue (Q: Aug. 2023 )
	=	2200.4	/	4904.7
	=	0.45

Be Aware

Manufacturers with durable competitive advantages have the advantage that the products they sell do not change, and therefore will never become obsolete. Buffett likes this advantage.

When identifying manufacturers with durable competitive advantage, look for inventory and net earnings that rise correspondingly. This indicates that the company is finding profitable ways to increase sales which called for an increase in inventory.

Manufacturers with inventories that spike up and down are indicative of competitive industries subject to boom and bust.

General Mills Total Inventories Related Terms

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General Mills (NYSE:GIS) Business Description

Industry

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Comparable Companies

Traded in Other Exchanges

GIS:Mexico GRM:Germany GRM:Germany GRM:Germany G1MI34:Brazil GIS:Austria

Address

Number One General Mills Boulevard, Minneapolis, MN, USA, 55426

Website

https://www.generalmills.com

General Mills is a global packaged food company that produces snacks, cereal, convenient meals, yogurt, dough, baking mixes and ingredients, pet food, and super-premium 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 into the foodservice channel and the commercial baking industry.

Executives

Werner Lanette Shaffer	officer: Chief Innovation Officer	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
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