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LONG-TERM DEBT (Tables)
 9 Months Ended
Feb. 24, 2013
Debt Disclosure [Abstract]  
Schedule of Long-term Debt Instruments
Our new senior unsecured notes in an aggregate principal amount of $716.0 million consist of the following:

4.95% senior debt due August 2020
$
282.7

6.625% senior debt due August 2039
433.3

 
February 24, 2013
 
May 27, 2012
  4.65% senior debt due January 2043
$
1,000.0

 
$
—

  6.625% senior debt due August 2039 (including Ralcorp senior notes)
450.0

 
—

  8.25% senior debt due September 2030
300.0

 
300.0

  7.0% senior debt due October 2028
382.2

 
382.2

  6.7% senior debt due August 2027
9.2

 
9.2

  7.125% senior debt due October 2026
372.4

 
372.4

  3.2% senior debt due January 2023
1,225.0

 
—

  3.25% senior debt due September 2022
250.0

 
—

  9.75% subordinated debt due March 2021
195.9

 
195.9

  4.95% senior debt due August 2020 (including Ralcorp senior notes)
300.0

 
—

  7.0% senior debt due April 2019
500.0

 
500.0

  1.9% senior debt due January 2018
1,000.0

 
—

  LIBOR plus 1.75% term loans due January 2018
1,500.0

 
—

  2.1% senior debt due March 2018
250.0

 
—

  5.819% senior debt due June 2017
500.0

 
500.0

  1.3% senior debt due January 2016
750.0

 
—

  1.35% senior debt due September 2015
250.0

 
—

  5.875% senior debt due April 2014
500.0

 
500.0

  Ralcorp Callable Notes (prepaid subsequent to February 24, 2013)
460.7

 
—

  2.00% to 9.59% lease financing obligations due on various dates through 2029
77.3

 
106.0

  Other indebtedness
78.3

 
73.1

    Total debt face value
10,351.0

 
2,938.8

    Fair value adjustment of notes in connection with Ralcorp acquisition
263.2

 
—

    Unamortized discounts/premiums
(60.0
)
 
(59.8
)
    Adjustment due to hedging activity
10.8

 
17.7

    Less current installments
(719.7
)
 
(38.1
)
      Total long-term debt
$
9,845.3

 
$
2,858.6
Schedule of Extinguishment of Debt
On February 28, 2013, subsequent to the third quarter of fiscal 2013, we prepaid the Ralcorp Callable Notes, in addition to the fair value adjustment of $101.8 million.
Ralcorp 5.93% senior notes (Series J) due May 2022
$
100.0

Ralcorp 7.6% senior notes (Series 2009B) due May 2021
50.0

Ralcorp 5.56% senior notes (Series I, Tranche A) due January 2019
75.0

Ralcorp 5.58% senior notes (Series I, Tranche B) due January 2019
25.0

Ralcorp 7.45% senior notes (Series 2009A) due May 2019
50.0

Ralcorp 5.57% senior notes (Series E) due December 2015
100.0

Ralcorp 5.43% senior notes (Series C) due December 2013
50.0

Ralcorp 4.76% senior notes (Series D) due December 2013
10.7

  Total Ralcorp Callable Notes
$
460.7
Net Interest Expense
et interest expense consists of:
 
 
Thirteen weeks ended
 
Thirty-nine weeks ended
 
February 24,
2013
 
February 26,
2012
 
February 24,
2013
 
February 26,
2012
Long-term debt
$
73.1

 
$
51.7

 
$
179.9

 
$
160.5

Short-term debt
—

 
0.2

 
0.3

 
0.3

Interest income
(1.0
)
 
(1.0
)
 
(2.4
)
 
(3.2
)
Interest capitalized
(1.5
)
 
(1.2
)
 
(4.5
)
 
(4.4
)
 
$
70.6

 
$
49.7

 
$
173.3

 
$
153.2