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Derivative Financial Instruments (Tables)
6 Months Ended
Nov. 27, 2011
Derivative Financial Instruments [Abstract]  
Derivative assets and liabilities and amounts representing a right to reclaim cash collateral were reflected in balance sheets
                 
    November 27,
2011
    May 29,
2011
 

Prepaid expenses and other current assets

  $ 99.5     $ 71.5  

Other accrued liabilities

    186.9       92.2  
Schedule of derivative instruments in statement of financial position, gross, fair value
                         
   

Derivative Assets

   

Derivative Liabilities

 
   

Balance Sheet

Location

  Fair Value    

Balance Sheet

Location

  Fair Value  

Interest rate contracts

  Prepaid expenses and other current assets   $ —       Other accrued liabilities   $ 139.4  
       

 

 

       

 

 

 

Total derivatives designated as hedging instruments

      $ —           $ 139.4  
       

 

 

       

 

 

 
         

Commodity contracts

  Prepaid expenses and other current assets   $ 95.8     Other accrued liabilities   $ 68.6  

Foreign exchange contracts

  Prepaid expenses and other current assets     7.5     Other accrued liabilities     16.4  

Other

  Prepaid expenses and other current assets     2.4     Other accrued liabilities     0.7  
       

 

 

       

 

 

 

Total derivatives not designated as hedging instruments

      $ 105.7         $ 85.7  
       

 

 

       

 

 

 

Total derivatives

      $ 105.7         $ 225.1  
       

 

 

       

 

 

 
                         
   

Derivative Assets

   

Derivative Liabilities

 
   

Balance Sheet

Location

  Fair Value    

Balance Sheet

Location

  Fair Value  

Interest rate contracts

  Prepaid expenses and other current assets   $ —       Other accrued liabilities   $ 11.8  
       

 

 

       

 

 

 

Total derivatives designated as hedging instruments

      $ —           $ 11.8  
       

 

 

       

 

 

 
         

Commodity contracts

  Prepaid expenses and other current assets   $ 85.4     Other accrued liabilities   $ 84.4  

Foreign exchange contracts

  Prepaid expenses and other current assets     1.0     Other accrued liabilities     19.2  

Other

  Prepaid expenses and other current assets     0.7     Other accrued liabilities     0.2  
       

 

 

       

 

 

 

Total derivatives not designated as hedging instruments

      $ 87.1         $ 103.8  
       

 

 

       

 

 

 

Total derivatives

      $ 87.1         $ 115.6  
       

 

 

       

 

 

 
Location and amount of gains and losses from derivatives reported in condensed consolidated statements of earnings
    $30.8     $30.8       $30.8  

Derivatives Not Designated as Hedging Instruments

 

Location in Condensed Consolidated Statement of Earnings of
Gain (Loss) Recognized on Derivatives

  Amount of Gain (Loss)
Recognized on Derivatives
in Condensed Consolidated
Statement of Earnings for
the Thirteen Weeks Ended
 
    November 27,
2011
    November 28,
2010
 

Commodity contracts

  Cost of goods sold   $ 30.6     $ 35.4  

Foreign exchange contracts

  Cost of goods sold     6.0       (2.6
       

Commodity contracts

  Selling, general and administrative expense     (0.1     —    

Foreign exchange contracts

  Selling, general and administrative expense     6.2       (2.0
       

 

 

   

 

 

 

Total gain from derivative instruments not designated as hedging instruments

      $ 42.7     $ 30.8  
       

 

 

   

 

 

 

 

    $30.8     $30.8       $30.8  

Derivatives Not Designated as Hedging Instruments

 

Location in Condensed Consolidated Statement of Earnings of

Gain (Loss) Recognized on Derivatives

  Amount of Gain (Loss)
Recognized on Derivatives

in Condensed Consolidated
Statement of Earnings for
the Twenty-six Weeks Ended
 
    November 27,
2011
    November 28,
2010
 

Commodity contracts

  Cost of goods sold   $ 73.1     $ 9.7  

Foreign exchange contracts

  Cost of goods sold     (1.0     (12.2
       

Commodity contracts

  Selling, general and administrative expense     (0.1     —    

Foreign exchange contracts

  Selling, general and administrative expense     6.5       (2.4
       

 

 

   

 

 

 

Total gain from derivative instruments not designated as hedging instruments

      $ 78.5     $ (4.9