RESTRUCTURING ACTIVITIES (Tables)

6 Months Ended

Nov. 25, 2018

Restructuring and Related Activities [Abstract]

Schedule of Pre-Tax Expenses in Association with the Restructuring Plan

During the second quarter and first half of fiscal 2019, we recognized the following pre-tax expenses within our Corporate segment for the Pinnacle Integration Restructuring Plan:

	Total
Severance and related costs	$	93.0
Accelerated depreciation	0.3
Consulting/professional fees	9.1
Other selling, general and administrative expenses	0.2
Total selling, general and administrative expenses	102.6
Consolidated total	$	102.6

Although we remain unable to make good faith estimates relating to the entire Pinnacle Integration Restructuring Plan, we are reporting on actions initiated through the end of the second quarter of fiscal 2019, including the estimated amounts or range of amounts for each major type of costs expected to be incurred, and the charges that have resulted or will result in cash outflows. Our Board has approved the incurrence of up to $290.0 million ($215.0 million of cash charges and $75.0 million of non-cash charges) in relation to the Pinnacle Integration Restructuring Plan. We have incurred or expect to incur approximately $190.6 million of charges ($188.7 million of cash charges and $1.9 million of non-cash charges) for actions identified to date under the Pinnacle Integration Restructuring Plan. We expect to incur costs related to the Pinnacle Integration Restructuring Plan over a three-year period.

We anticipate that we will recognize the following pre-tax expenses within our Corporate segment in association with the Pinnacle Integration Restructuring Plan (amounts include charges recognized from plan inception through the second quarter of fiscal 2019):

	Total
Severance and related costs	$	112.0
Accelerated depreciation	1.9
Contract/lease termination	12.0
Consulting/professional fees	44.6
Other selling, general and administrative expenses	20.1
Total selling, general and administrative expenses	190.6
Consolidated total	$	190.6

Schedule of Liabilities Recorded for the Restructuring Plan

Liabilities recorded for the Pinnacle Integration Restructuring Plan and changes therein for the second quarter and first half of fiscal 2019 were as follows:

	Balance at May 27, 2018		Costs Incurred and Charged to Expense		Costs Paid or Otherwise Settled			Changes in Estimates		Balance at November 25, 2018
Severance and related costs	$	—	$	93.0	$	(20.5	)	$	—	$	72.5
Consulting/professional fees	—		9.1		(0.3		)	—		8.8
Other costs	—		0.2		—			—		0.2
Total	$	—	$	102.3	$	(20.8	)	$	—	$	81.5