SEGMENTS - Tabular Disclosure (Details) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | ||
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Nov. 28, 2021 |
Nov. 29, 2020 |
Nov. 28, 2021 |
Nov. 29, 2020 |
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Segment information | ||||
Net sales | $ 1,006.6 | $ 896.1 | $ 1,990.8 | $ 1,767.6 |
Product contribution margin | 200.5 | 221.0 | 347.7 | 433.6 |
Advertising and promotion expenses | 5.0 | 2.5 | 9.1 | 3.7 |
Gross profit | 205.5 | 223.5 | 356.8 | 437.3 |
Selling, general and administrative expenses | 91.1 | 83.9 | 182.2 | 162.0 |
Income from operations | 114.4 | 139.6 | 174.6 | 275.3 |
Interest expense, net | 82.4 | 30.0 | 110.3 | 60.3 |
Income tax expense | 9.6 | 31.9 | 18.3 | 59.9 |
Equity method investment earnings | 10.1 | 19.2 | 16.3 | 31.1 |
Net income | 32.5 | 96.9 | 62.3 | 186.2 |
Global | ||||
Segment information | ||||
Net sales | 516.7 | 475.9 | 1,017.9 | 923.4 |
Product contribution margin | 80.9 | 92.7 | 123.5 | 170.5 |
Foodservice | ||||
Segment information | ||||
Net sales | 313.9 | 241.1 | 635.3 | 477.8 |
Product contribution margin | 104.4 | 87.7 | 200.8 | 173.5 |
Retail | ||||
Segment information | ||||
Net sales | 142.6 | 140.7 | 275.1 | 294.6 |
Product contribution margin | 21.4 | 30.1 | 36.2 | 65.9 |
Other | ||||
Segment information | ||||
Net sales | 33.4 | 38.4 | 62.5 | 71.8 |
Product contribution margin | $ (6.2) | $ 10.5 | $ (12.8) | $ 23.7 |
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- Definition Represents the product contribution margin defined as net sales, less cost of sales and advertising and promotion expenses. No definition available.
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- Definition Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of income (loss) for proportionate share of equity method investee's income (loss). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The net amount of nonoperating interest income (expense). No definition available.
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- Definition The total expense recognized in the period for promotion, public relations, and brand or product advertising. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The net result for the period of deducting operating expenses from operating revenues. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition The aggregate total costs related to selling a firm's product and services, as well as all other general and administrative expenses. Direct selling expenses (for example, credit, warranty, and advertising) are expenses that can be directly linked to the sale of specific products. Indirect selling expenses are expenses that cannot be directly linked to the sale of specific products, for example telephone expenses, Internet, and postal charges. General and administrative expenses include salaries of non-sales personnel, rent, utilities, communication, etc. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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