DERIVATIVE FINANCIAL INSTRUMENTS (Tables)

6 Months Ended

Nov. 25, 2012

Derivative Assets and Liabilities and Amounts Representing 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:

	November 25, 2012		May 27, 2012
Prepaid expenses and other current assets	$	72.2	$	58.7
Other accrued liabilities		192.7		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 existed at November 25, 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	$	158.9
Total derivatives designated as hedging instruments		$	—		$	158.9
Commodity contracts	Prepaid expenses and other current assets	$	77.6	Other accrued liabilities	$	34.7
Foreign exchange contracts	Prepaid expenses and other current assets		3.0	Other accrued liabilities		7.9
Other	Prepaid expenses and other current assets		1.3	Other accrued liabilities		0.1
Total derivatives not designated as hedging instruments		$	81.9		$	42.7
Total derivatives		$	81.9		$	201.6

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

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 25, 2012			November 27, 2011
Commodity contracts	Cost of goods sold	$	7.1		$	30.6
Foreign exchange contracts	Cost of goods sold		5.4			6.0
Commodity contracts	Selling, general and administrative expense		(0.1	)		(0.1	)
Foreign exchange contracts	Selling, general and administrative expense		(0.5	)		6.2
Total gain from derivative instruments not designated as hedging instruments		$	11.9		$	42.7
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 25, 2012			November 27, 2011
Commodity contracts	Sales	$	(0.7	)	$	—
Commodity contracts	Cost of goods sold		126.3			73.1
Foreign exchange contracts	Cost of goods sold		1.3			(1.0	)
Commodity contracts	Selling, general and administrative expense		0.1			(0.1	)
Foreign exchange contracts	Selling, general and administrative expense		(6.5	)		6.5
Total gain from derivative instruments not designated as hedging instruments		$	120.5		$	78.5