LEASES (Tables)

3 Months Ended

Aug. 25, 2019

Leases [Abstract]

Schedule of Operating and Finance Leases Reported in Balance Sheet Excluding Balances Related to Assets and Liabilities Classified as Held for Sale

Leases reported in our Condensed Consolidated Balance Sheet as of August 25, 2019, are as follows, excluding balances related to assets and liabilities classified as held for sale:

	Operating Leases
	Balance Sheet Location	August 25, 2019
ROU assets, net	Other assets	$	229.3
Lease liabilities (current)	Other accrued liabilities		53.1
Lease liabilities (noncurrent)	Other noncurrent liabilities		212.4

	Finance Leases
	Balance Sheet Location	August 25, 2019
ROU assets, at cost	Property, plant and equipment	$	213.2
Less accumulated depreciation	Less accumulated depreciation		(44.6	)
ROU assets, net	Property, plant and equipment, net		168.6
Lease liabilities (current)	Current installments of long-term debt		20.1
Lease liabilities (noncurrent)	Senior long-term debt, excluding current installments		140.8

Components of Total Lease Cost

The components of total lease cost for the first quarter of fiscal 2020 were as follows:

Lease cost	Thirteen weeks ended August 25, 2019
Operating lease cost	$	18.0
Finance lease cost
Depreciation of leased assets		3.8
Interest on lease liabilities		2.3
Short-term lease costs		0.7
Total lease cost	$	24.8

Schedule of Weighted-Average Remaining Lease Terms and Weighted-Average Discount Rate for Leases

The weighted-average remaining lease terms and weighted-average discount rate for our leases as of August 25, 2019, are as follows:

	Operating Leases			Finance Leases
Weighted-average remaining lease term (in years)		8.2			8.6
Weighted-average discount rate		3.62	%		5.40	%

Schedule of Cash Flows Arising from Lease Transactions

Cash flows arising from lease transactions for the first quarter of fiscal 2020 were as follows:

	Thirteen weeks ended August 25, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows from operating leases	$	13.9
Operating cash outflows from finance leases		2.8
Financing cash outflows from finance leases		5.8
ROU assets obtained in exchange for new lease liabilities:
Operating leases		16.6
Finance leases		1.3

Schedule of Maturities of Lease Liabilities

Maturities of lease liabilities by fiscal year as of August 25, 2019, are as follows (inclusive of amounts classified as held for sale):

	Operating Leases			Finance Leases			Total
2020 (remaining year)	$	42.5		$	21.3		$	63.8
2021		54.5			28.8			83.3
2022		41.0			27.4			68.4
2023		34.4			22.3			56.7
2024		26.0			17.9			43.9
Later years		125.1			90.1			215.2
Total lease payments		323.5			207.8			531.3
Less: Imputed interest		(50.9	)		(46.9	)		(97.8	)
Total lease liabilities	$	272.6		$	160.9		$	433.5

Summary of Non-Cancellable Operating Lease Commitments

A summary of non-cancelable operating lease commitments as of May 26, 2019 is as follows:

2020	$	52.1
2021		48.4
2022		38.0
2023		34.1
2024		25.6
Later years		114.4
	$	312.6