The following table sets forth selected financial data for each of the fiscal years in the five-year period ended May 30, 2010: Financial Summary (a) Fiscal 2009 was a 53-week year; all other fiscal years were 52 weeks. (b)See Glossary on page 85 for definition. (c) In fiscal 2010, we adopted new accounting guidance on noncontrolling interests in financial statements. To conform to the current year’s presentation, we made certain reclassifications in our Consolidated Statements of Earnings and our Consolidated Balance Sheets as described in Notes 1 and 16 to the Consolidated Financial Statements. Prior year ratios affected by the reclassifications were updated accordingly. (d)See page 87 of this report for our discussion of this measure not defined by generally accepted accounting principles. (e) All shares and per share amounts have been adjusted for the two-for-one stock split effected in the form of a 100 percent stock dividend distributed on June 8, 2010, to shareholders of record on May 28, 2010. General Mills 18 In Millions, Except Per Share Data, Percentages and Ratios 2010 2009 (a) 2008 2007 2006 Fiscal Year ........................................................................................................................................................ ............................................................................................................................................................................................................................................................................................................................................................................................ Operating data: Net sales $14,796.5 $14,691.3 $13,652.1 $12,441.5 $11,711.3 Gross margin (b) 5,873.6 5,233.5 4,873.8 4,486.4 4,166.5 Selling, general, and administrative expenses (c) 3,236.1 2,951.8 2,623.6 2,388.2 2,176.5 Segment operating profit (c)(d) 2,861.3 2,643.0 2,406.9 2,261.2 2,112.8 Divestures (gain) — (84.9) — — — After-tax earnings from joint ventures 101.7 91.9 110.8 72.7 69.2 Net earnings attributable to General Mills 1,530.5 1,304.4 1,294.7 1,143.9 1,090.3 Depreciation and amortization 457.1 453.6 459.2 417.8 423.9 Advertising and media expense 908.5 732.1 587.2 491.4 471.4 Research and development expense 218.3 208.2 204.7 191.1 178.4 Average shares outstanding$^{(e)}$: Basic 659.6 663.7 665.9 693.1 715.5 Diluted 683.3 687.1 693.8 720.4 757.6 Earnings per share$^{(e)}$: Basic $ 2.32 $ 1.96 $ 1.93 $ 1.65 $ 1.52 Diluted $ 2.24 $ 1.90 $ 1.85 $ 1.59 $ 1.45 Operating ratios: Gross margin as a percentage of net sales 39.7% 35.6% 35.7% 36.1% 35.6% Selling, general, and administrative expenses as a percentage of net sales (c) 21.9% 20.1% 19.2% 19.2% 18.6% Segment operating profit as a percentage of net sales (c)(d) 19.3% 18.0% 17.6% 18.2% 18.0% Effective income tax rate (c) 35.0% 37.1% 34.0% 33.0% 33.2% Return on average total capital (b)(c)(d) 13.8% 12.3% 11.7% 11.0% 10.4% Balance sheet data: Land, buildings, and equipment $ 3,127.7 $ 3,034.9 $ 3,108.1 $ 3,013.9 $ 2,997.1 Total assets 17,678.9 17,874.8 19,041.6 18,183.7 18,075.3 Long-term debt, excluding current portion 5,268.5 5,754.8 4,348.7 3,217.7 2,414.7 Total debt (b) 6,425.9 7,075.5 6,999.5 6,206.1 6,049.3 Noncontrolling interests (c) 245.1 244.2 246.6 1,139.2 1,136.2 Stockholders’ equity (c) 5,402.9 5,172.3 6,212.2 5,318.7 5,772.3 Cash flow data: Net cash provided by operating activities $ 2,181.2 $ 1,828.2 $ 1,729.9 $ 1,751.2 $ 1,843.5 Capital expenditures 649.9 562.6 522.0 460.2 360.0 Net cash used by investing activities 721.2 288.9 442.4 597.1 370.0 Net cash used by financing activities 1,503.8 1,404.5 1,093.0 1,398.1 1,404.3 Fixed charge coverage ratio (c) 6.42 5.33 4.91 4.51 4.67 Operating cash flow to debt ratio (b) 33.9% 25.8% 24.7% 28.2% 30.5% Share data: (e) Low stock price $ 25.59 $ 23.61 $ 25.72 $ 24.64 $ 22.34 High stock price 36.96 35.08 31.25 30.56 26.08 Closing stock price 35.62 25.59 30.54 30.08 25.90 Cash dividends per common share 0.96 0.86 0.78 0.72 0.67 Number of full- and part-time employees 33,000 30,000 29,500 28,580 28,147