3. RESTRUCTURING ACTIVITIES

See our Consolidated Financial Statements and related notes included in our Annual Report on Form 10-K for the fiscal year ended  May 28, 2023 for additional information on our restructuring activities. 

Conagra Restructuring Plan

In fiscal 2019, senior management initiated a restructuring plan for costs incurred in connection with actions taken to improve SG&A expense effectiveness and efficiencies and to optimize our supply chain network (the "Conagra Restructuring Plan"). As of  February 25, 2024, we had approved the incurrence of $228.8 million ($69.5 million of cash charges and $159.3 million of non-cash charges) for several projects associated with the Conagra Restructuring Plan. In the third quarter and first three quarters of fiscal 2024, we recognized charges of $1.5 million and $28.9 million, respectively, in connection with the Conagra Restructuring Plan. In the third quarter and first three quarters of fiscal 2023, we recognized charges of $1.6 million and $7.5 million, respectively, in connection with the Conagra Restructuring Plan. We have recognized cumulative charges of $181.8 million since the inception of this plan through February 25, 2024. We expect to incur costs related to the Conagra Restructuring Plan over a multi-year period.

During the first three quarters of fiscal 2024, we recognized the following pre-tax expenses for the Conagra Restructuring Plan:

Included in the above results are $6.2 million of charges that have resulted or will result in cash outflows and $22.7 million in non-cash charges.

Liabilities recorded for the Conagra Restructuring Plan and changes therein for the first three quarters of fiscal 2024 were as follows: