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Note 13 - Pre-tax Income and Income Taxes - Schedule of the Tax Effect of Temporary Differences and Carryforwards (Details) - USD ($)
$ in Millions
May 28, 2023
May 29, 2022
Property, plant and equipment $ 306.2 $ 327.2
Inventory 20.1 30.5
Goodwill, trademarks and other intangible assets 437.3 405.8
Goodwill, trademarks and other intangible assets 941.1 1,066.6
Right-of-use assets 47.0 47.9
Accrued expenses 16.5 12.7
Compensation related liabilities 31.9 29.3
Pension and other postretirement benefits 0.0 0.0
Pension and other postretirement benefits 23.7 25.1
Investment in unconsolidated subsidiaries 19.1 9.4
Lease liabilities 54.6 56.1
Other liabilities that will give rise to future tax deductions 59.6 73.2
Net capital and operating loss carryforwards 34.7 46.4
Research Expenditures 20.6 0.0
Research Expenditures 0.0 0.0
Federal credits 10.7 12.0
Other 34.9 32.0
Other 32.8 38.6
Deferred Tax Assets, Gross 720.9 698.0
Deferred Tax Liabilities, Gross 1,369.9 1,514.8
Less: Valuation allowance (457.6) (455.5)
Net deferred taxes 263.3 242.5
Net deferred taxes $ 1,369.9 $ 1,514.8