DERIVATIVE FINANCIAL INSTRUMENTS (Tables)

3 Months Ended

Aug. 26, 2012

Derivative Assets and Liabilities and Amounts Representing a Right to Reclaim Cash Collateral were Reflected in Balance sheets

Derivative assets and liabilities and amounts representing a right to reclaim cash collateral or obligation to return cash collateral were reflected in our condensed consolidated balance sheets as follows:

	August 26, 2012		May 27, 2012
Prepaid expenses and other current assets	$	97.3	$	58.7
Other accrued liabilities		221.9		215.4

Schedule of Derivative Instruments in Statement of Financial Position, Gross, Fair Value

The following table presents our derivative assets and liabilities, on a gross basis, prior to the offsetting of amounts where legal right of setoff exists at August 26, 2012:

	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	$	158.3
Total derivatives designated as hedging instruments		$	—		$	158.3
Commodity contracts	Prepaid expenses and other current assets	$	121.8	Other accrued liabilities	$	59.2
Foreign exchange contracts	Prepaid expenses and other current assets		0.9	Other accrued liabilities		12.0
Other	Prepaid expenses and other current assets		0.3	Other accrued liabilities		0.4
Total derivatives not designated as hedging instruments		$	123.0		$	71.6
Total derivatives		$	123.0		$	229.9

The following table presents our derivative assets and liabilities, on a gross basis, prior to the offsetting of amounts where legal right of setoff exists at May 27, 2012:

	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	$	153.9
Total derivatives designated as hedging instruments		$	—		$	153.9
Commodity contracts	Prepaid expenses and other current assets	$	60.3	Other accrued liabilities	$	75.6
Foreign exchange contracts	Prepaid expenses and other current assets		7.3	Other accrued liabilities		8.1
Other	Prepaid expenses and other current assets		0.6	Other accrued liabilities		0.5
Total derivatives not designated as hedging instruments		$	68.2		$	84.2
Total derivatives		$	68.2		$	238.1

Location and Amount of Gains (Losses) from Derivatives Not Designated As Hedging Instruments in Condensed Consolidated Statements of Earnings

The location and amount of gains (losses) from derivatives not designated as hedging instruments in our condensed consolidated statements of earnings were as follows:

	Location in
	Condensed Consolidated
Derivatives Not	Statement
Designated as	of Earnings of Gain	Amount of Gain (Loss) Recognized on Derivatives in Condensed
Hedging	(Loss) Recognized	Consolidated Statement of Earnings for the Thirteen Weeks  Ended
Instruments	on Derivatives	August 26, 2012			August 28, 2011
Commodity contracts	Sales	$	(0.7	)	$	—
Commodity contracts	Cost of goods sold		119.2			42.5
Foreign exchange contracts	Cost of goods sold		(4.1	)		(7.0	)
Commodity contracts	Selling general and administrative expense		0.2			—
Foreign exchange contracts	Selling, general and administrative expenses		(6.0	)		0.3
Total gain from derivative instruments not designated as hedging instruments		$	108.6		$	35.8