General Mills (BSP:G1MI34) LT-Debt-to-Total-Asset : 0.36 (As of Feb. 2024)

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What is General Mills LT-Debt-to-Total-Asset?

LT Debt to Total Assets is a measurement representing the percentage of a corporation's assets that are financed with loans and financial obligations lasting more than one year. The ratio provides a general measure of the financial position of a company, including its ability to meet financial requirements for outstanding loans. It is calculated as a company's Long-Term Debt & Capital Lease Obligationdivide by its Total Assets. General Mills's long-term debt to total assests ratio for the quarter that ended in Feb. 2024 was 0.36.

General Mills's long-term debt to total assets ratio increased from Feb. 2023 (0.26) to Feb. 2024 (0.36). It may suggest that General Mills is progressively becoming more dependent on debt to grow their business.

General Mills LT-Debt-to-Total-Asset Historical Data

The historical data trend for General Mills's LT-Debt-to-Total-Asset 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 LT-Debt-to-Total-Asset Chart

General Mills Annual Data

Trend

May14

May15

May16

May17

May18

May19

May20

May21

May22

May23

LT-Debt-to-Total-Asset

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0.39

0.36

0.32

0.30

0.33

General Mills Quarterly Data
	May19	Aug19	Nov19	Feb20	May20	Aug20	Nov20	Feb21	May21	Aug21	Nov21	Feb22	May22	Aug22	Nov22	Feb23	May23	Aug23	Nov23	Feb24
LT-Debt-to-Total-Asset	Get a 7-Day Free Trial															0.26	0.33	0.34	0.34	0.36

General Mills LT-Debt-to-Total-Asset Calculation

General Mills's Long-Term Debt to Total Asset Ratio for the fiscal year that ended in May. 2023 is calculated as

LT Debt to Total Assets (A: May. 2023 )	=	Long-Term Debt & Capital Lease Obligation (A: May. 2023 )	/	Total Assets (A: May. 2023 )
	=	50919.347	/	156670.353
	=	0.33

General Mills's Long-Term Debt to Total Asset Ratio for the quarter that ended in Feb. 2024 is calculated as

LT Debt to Total Assets (Q: Feb. 2024 )	=	Long-Term Debt & Capital Lease Obligation (Q: Feb. 2024 )	/	Total Assets (Q: Feb. 2024 )
	=	54644.81	/	153095.854
	=	0.36

General Mills (BSP:G1MI34) LT-Debt-to-Total-Asset Explanation

LT Debt to Total Asset is a measurement representing the percentage of a corporation's assets that are financed with loans and financial obligations lasting more than one year. The ratio provides a general measure of the financial position of a company, including its ability to meet financial requirements for outstanding loans. A year-over-year decrease in this metric would suggest the company is progressively becoming less dependent on debt to grow their business.

General Mills LT-Debt-to-Total-Asset Related Terms

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General Mills (BSP:G1MI34) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Defensive » Consumer Packaged Goods » General Mills Inc (BSP:G1MI34) » Definitions » LT-Debt-to-Total-Asset

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Traded in Other Exchanges

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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 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.

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