Company: CAG
Filing Date: 2025-03-26
Form Type: CORRESP
Source: 0000023217-25-000006
Chunk: 0

Company: CONAGRA BRANDS INC.
Filing Date: 2025-03-26
Form: CORRESP
Chunk 0
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222 W. Merchandise Mart Plaza, Suite 1300 Chicago, Illinois 60654 March 26, 2025 VIA EDGAR Ms. Eiko Yaoita Pyles Ms. Melissa Gilmore Division of Corporate Finance Office of Manufacturing U.S. Securities and Exchange Commission Washington, D.C. 20549 RE: Conagra Brands, Inc. Form 10-K for the fiscal year ended May 26, 2024 Filed July 11, 2024 Form 8-K furnished on December 19, 2024 File No. 001-07275 Dear Ms. Pyles and Ms. Gilmore: This letter sets forth the response of Conagra Brands, Inc. (“we” or “our”) to the Staff's comment letter dated March 17, 2025, on the above referenced Form 10-K and Form 8-K. We have also included the comment along with our response to aid in the review process. Form 10-K for the fiscal year ended May 26, 2024 Consolidated Statements of Earnings, page 38

| 1. | We note that you included the impairment charges in the Selling, General and Administrative expenses line item of the statement of earnings.  Please present the charges related to impairments in a separate line item with charges related to goodwill presented separately from other impairment charges in accordance with ASC 350-20-45-2. |

Response: In response to the Staff’s comment, in future filings, in the cost and expenses itemization in the statement of earnings, we will present charges related to impairments in a separate line item and we will separately present charges related to goodwill, if recognized. As disclosed in Note 8 – Goodwill and Other Identifiable Intangible Assets, we recognized goodwill and intangible impairment charges of $526.5 million and $430.2 million, respectively in fiscal year 2024. We respectfully submit that the requested change would not materially change a reader’s understanding of the Company’s results of operations, as the nature and amount of the impairment charges is reflected within Note 8 and in our Critical Accounting Estimates. * * *

Form 8-K furnished on December 19, 2024 Exhibit 99.1

| 2. | We note in your earnings releases, you removed advertising and promotion expenses from adjusted selling, general and administrative expense, a non-GAAP measure, because this metric is used in reporting to management, and management believes this adjusted measure provides useful supplemental information to assess the company