NOTE 5. INVESTMENTS IN JOINT VENTURES NOTE 6. GOODWILL AND OTHER INTANGIBLE ASSETS General Mills 58 Summary combined financial information for the joint ventures on a 100 percent basis follows: Joint venture earnings and cash flow activity follows: Results from our CPW and HDJ joint ventures are reported for the 12 months ended March 31. During fiscal 2008, the 8th Continent soy milk business was sold, and our 50 percent share of the after-tax gain on the sale was $2.2 million, of which $1.7 million was recorded in fiscal 2008. In fiscal 2010 we recorded an additional gain of $0.6 million when certain conditions related to the sale were satisfied. Joint venture balance sheet activity follows: The components of goodwill and other intangible assets are as follows: CPW reclassified certain expenses as a reduction to net sales. To conform to the current period presentation, CPW reduced its previously reported net sales by approximately $150 million in fiscal 2009 and $200 million in 2008. There was no effect on after- tax earnings from joint ventures in our Consolidated Statements of Earnings. We have a 50 percent equity interest in Cereal Partners World- wide (CPW), which manufactures and markets ready-to-eat cereal products in more than 130 countries and republics outside the United States and Canada. CPW also markets cereal bars in several European countries and manufactures private label cere- als for customers in the United Kingdom. We have guaranteed a portion of CPW’s debt and its pension obligation in the United Kingdom. We also have a 50 percent equity interest in Ha ¨agen-Dazs Japan, Inc. (HDJ). This joint venture manufactures, distributes, and markets Ha ¨agen-Dazs ice cream products and frozen novelties. In Millions May 30, 2010 May 31, 2009 ......................................................................................................................................................................................... Cumulative investments $ 398.1 $ 283.3 Goodwill and other intangibles 512.6 593.9 Aggregate advances 238.2 114.8 In Millions 2010 2009 2008 Fiscal Year ............................................................... ......................................................................................................................................................................................... Sales to joint ventures $ 10.7 $14.2 $ 12.8 Net advances (repayments) 128.1 (8.2) (75.2) Dividends received 88.0 68.5 108.7 In Millions 2010 2009 2008 Fiscal Year ............................................................................... ......................................................................................................................................................................................... Net sales $2,360.0 $2,280.0 $2,207.7 Gross margin 1,053.2 873.5 906.6 Earnings before income taxes 251.2 234.7 231.7 Earnings after income taxes 202.3 175.3 190.4 In Millions May 30, 2010 May 31, 2009 ......................................................................................................................................................................................... Goodwill $ 6,592.8 $ 6,663.0 ......................................................................................................................................................................................... Other intangible assets: Intangible assets not subject to amortization: Brands 3,679.6 3,705.3 Intangible assets subject to amortization: Patents, trademarks, and other finite-lived intangibles 54.4 56.1 ......................................................................................................................................................................................... Less accumulated amortization (19.0) (14.4) ......................................................................................................................................................................................... Intangible assets subject to amortization 35.4 41.7 ......................................................................................................................................................................................... Other intangible assets 3,715.0 3,747.0 ......................................................................................................................................................................................... Total $10,307.8 $10,410.0 In Millions May 30, 2010 May 31, 2009 ......................................................................................................................................................................................... Current assets $ 731.7 $ 835.4 Noncurrent assets 907.3 895.0 Current liabilities 1,322.0 1,394.6 Noncurrent liabilities 112.1 66.9