RESTRUCTURING (Tables)

3 Months Ended

Aug. 26, 2012

Summary of Expected Realization and Incurred Restructuring Pre Tax Expenses

We anticipate that we will recognize the following pre-tax cash acquisition-related exit costs, all within our Consumer Foods reporting segment, in selling, general and administrative expenses during fiscal 2012 to 2014 (amounts include charges recognized in fiscal 2012 and the first quarter of fiscal 2013):

	Total
Severance and related costs	$	9.4
Other, net		0.5
Total selling, general and administrative expenses		9.9
Consolidated total	$	9.9

During the first quarter of fiscal 2013, we recognized the following pre-tax charges in our consolidated statement of earnings, all within our Consumer Foods reporting segment, for acquisition-related exit costs:

	Total
Accelerated depreciation	$	(0.2	)
Total cost of goods sold		(0.2	)
Severance and related costs		1.7
Other, net		0.3
Total selling, general and administrative expenses		2.0
Consolidated total	$	1.8

	Total
Severance and related costs	$	5.8
Other, net		0.5
Total selling, general and administrative expenses		6.3
Consolidated total	$	6.3

	Consumer Foods		Commercial Foods		Corporate		Total
Accelerated depreciation	$	—	$	—	$	1.5	$	1.5
Severance and related costs		6.8		—		2.7		9.5
Other, net		7.3		1.1		1.7		10.1
Total selling, general and administrative expenses		14.1		1.1		5.9		21.1
Consolidated total	$	14.1	$	1.1	$	5.9	$	21.1

	Consumer Foods		Corporate		Total
Accelerated depreciation	$	—	$	0.1	$	0.1
Severance and related costs		0.2		0.3		0.5
Total selling, general and administrative expenses		0.2		0.4		0.6
Consolidated total	$	0.2	$	0.4	$	0.6

	Consumer Foods		Commercial Foods		Corporate		Total
Accelerated depreciation	$	—	$	—	$	1.2	$	1.2
Severance and related costs		6.4		—		2.5		8.9
Other, net		6.0		1.0		0.2		7.2
Total selling, general and administrative expenses		12.4		1.0		3.9		17.3
Consolidated total	$	12.4	$	1.0	$	3.9	$	17.3

	Consumer Foods		Commercial Foods		Corporate		Total
Accelerated depreciation	$	22.6	$	—	$	—	$	22.6
Inventory write-offs and related costs		10.1		0.4		—		10.5
Total cost of goods sold		32.7		0.4		—		33.1
Asset impairment		13.0		14.0		—		27.0
Severance and related costs		9.6		0.1		—		9.7
Other, net		9.9		1.5		0.8		12.2
Total selling, general and administrative expenses		32.5		15.6		0.8		48.9
Consolidated total	$	65.2	$	16.0	$	0.8	$	82.0

	Consumer Foods			Corporate		Total
Accelerated depreciation	$	1.6		$	—	$	1.6
Total cost of goods sold		1.6			—		1.6
Asset impairment		(0.3	)		—		(0.3	)
Other, net		1.7			0.8		2.5
Total selling, general and administrative expenses		1.4			0.8		2.2
Consolidated total	$	3.0		$	0.8	$	3.8

	Consumer Foods		Commercial Foods		Corporate		Total
Accelerated depreciation	$	22.1	$	—	$	—	$	22.1
Inventory write-offs and related costs		6.9		0.4		—		7.3
Total cost of goods sold		29.0		0.4		—		29.4
Asset impairment		13.0		14.0		—		27.0
Severance and related costs		9.5		0.1		—		9.6
Other, net		7.9		1.5		0.8		10.2
Total selling, general and administrative expenses		30.4		15.6		0.8		46.8
Consolidated total	$	59.4	$	16.0	$	0.8	$	76.2

Liability for Initiatives and Changes

Liabilities recorded for acquisition-related exit costs and changes therein for the first quarter of fiscal 2013 were as follows:

	Balance at May  27, 2012		Costs Incurred and Charged to Expense		Costs Paid or Otherwise Settled			Changes  in Estimates		Balance at August 26, 2012
Total—Severance and related costs	$	4.3	$	1.6	$	(1.6	)	$	0.3	$	4.6
Total	$	4.3	$	1.6	$	(1.6	)	$	0.3	$	4.6

	Balance at May  27, 2012		Costs Incurred and Charged to Expense		Costs Paid or Otherwise Settled			Changes  in Estimates		Balance at August 26, 2012
Severance and related costs	$	2.1	$	0.4	$	(1.0	)	$	0.1	$	1.6
Plan implementation costs		0.3		—		(0.3	)		—		—
Total	$	2.4	$	0.4	$	(1.3	)	$	0.1	$	1.6

	Balance at May  27, 2012		Costs Incurred and Charged to Expense		Costs Paid or Otherwise  Settled			Changes  in Estimates			Balance at August 26, 2012
Severance and related costs	$	7.0	$	—	$	(3.1	)	$	(0.3	)	$	3.6
Plan implementation costs		0.8		1.8		(2.0	)		—			0.6
Total	$	7.8	$	1.8	$	(5.1	)	$	(0.3	)	$	4.2