DERIVATIVE FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

May 26, 2013

Derivative Instruments and Hedging Activities Disclosure [Abstract]

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 consolidated balance sheets as follows:

	May 26, 2013		May 27, 2012
Prepaid expenses and other current assets	$	78.6	$	58.7
Other accrued liabilities	137.9		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 May 26, 2013:

	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	$	104.5
Total derivatives designated as hedging instruments		$	—		$	104.5
Commodity contracts	Prepaid expenses and other current assets	$	70.7	Other accrued liabilities	$	53.7
Foreign exchange contracts	Prepaid expenses and other current assets	18.4		Other accrued liabilities	2.4
Other	Prepaid expenses and other current assets	2.0		Other accrued liabilities	—
Total derivatives not designated as hedging instruments		$	91.1		$	56.1
Total derivatives		$	91.1		$	160.6

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 consolidated statements of earnings were as follows:

	For the Fiscal Year Ended May 26, 2013
Derivatives Not Designated as Hedging Instruments	Location in Consolidated Statement of Earnings of Gain (Loss) Recognized  on Derivatives	Amount of Gain (Loss) Recognized on Derivatives in Consolidated Statement of Earnings
Commodity contracts	Net sales	$	(11.5	)
Commodity contracts	Cost of goods sold	142.2
Foreign exchange contracts	Cost of goods sold	20.3
Commodity contracts	Selling, general and administrative expense	0.1
Foreign exchange contracts	Selling, general and administrative expense	0.1
Total gain from derivative instruments not designated as hedging instruments		$	151.2

	For the Fiscal Year Ended May 27, 2012
Derivatives Not Designated as Hedging Instruments	Location in Consolidated Statement of Earnings of Gain (Loss) Recognized on Derivatives	Amount of Gain (Loss) Recognized on Derivatives in Consolidated Statement of Earnings
Commodity contracts	Net sales	$	(6.4	)
Commodity contracts	Cost of goods sold	58.5
Foreign exchange contracts	Cost of goods sold	5.4
Commodity contracts	Selling, general and administrative expense	(0.1		)
Foreign exchange contracts	Selling, general and administrative expense	8.7
Total gain from derivative instruments not designated as hedging instruments		$	66.1

	For the Fiscal Year Ended May 29, 2011
Derivatives Not Designated as Hedging Instruments	Location in Consolidated Statement of Earnings of Gain (Loss) Recognized on Derivatives	Amount of Gain (Loss) Recognized on Derivatives in Consolidated Statement of Earnings
Commodity contracts	Net sales	$	3.8
Commodity contracts	Cost of goods sold	54.3
Foreign exchange contracts	Cost of goods sold	(20.2		)
Commodity contracts	Selling, general and administrative expense	2.1
Foreign exchange contracts	Selling, general and administrative expense	(7.9		)
Total gain from derivative instruments not designated as hedging instruments		$	32.1