Note 2 - Assets Held for Sale

3 Months Ended

Aug. 28, 2022

Notes to Financial Statements

Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]

2. ASSETS HELD FOR SALE

During fiscal 2022, we initiated a plan to sell businesses with operating results included within our Grocery & Snacks, Refrigerated & Frozen, and Foodservice segments. The assets and liabilities have been reclassified as assets and liabilities held for sale within our Condensed Consolidated Balance Sheets for all periods presented and are expected to be sold within twelve months of initiating our plan. In connection with this activity, we recognized an impairment charge of $26.7 million within selling, general and administrative ("SG&A") expenses during the first quarter of fiscal 2023.

The assets and liabilities classified as held for sale reflected in our Condensed Consolidated Balance Sheets were as follows:

	August 28, 2022		May 29, 2022
Current assets	$	27.0	$	27.0
Noncurrent assets		5.4		31.9
Current liabilities		1.7		1.7
Noncurrent liabilities		2.4		2.4