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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Aug. 25, 2019
Aug. 26, 2018
Cash flows from operating activities:    
Net income $ 174.3 $ 178.2
Adjustments to reconcile net income to net cash flows from operating activities:    
Depreciation and amortization 96.7 63.7
Asset impairment charges 67.0 0.5
Loss (gain) on divestiture (1.7) 13.3
Earnings of affiliates less than (in excess of) distributions (0.2) 3.0
Stock-settled share-based payments expense 10.2 11.4
Contributions to pension plans (3.4) (4.2)
Pension benefit (5.7) (6.9)
Other items (2.6) 7.4
Change in operating assets and liabilities excluding effects of business acquisitions and dispositions:    
Receivables 41.7 (18.9)
Inventories (198.0) (115.1)
Deferred income taxes and income taxes payable, net (23.9) 49.4
Prepaid expenses and other current assets (16.1) (24.1)
Accounts payable 94.3 50.4
Accrued payroll (77.6) (70.0)
Other accrued liabilities 48.2 (10.8)
Net cash flows from operating activities 207.0 94.7
Cash flows from investing activities:    
Additions to property, plant and equipment (106.6) (86.1)
Sale of property, plant and equipment 1.0 17.2
Purchase of marketable securities 16.9 0.0
Sale of marketable securities 18.2 0.0
Proceeds from divestiture 0.0 30.3
Other items (3.2) 0.1
Net cash flows from investing activities (107.5) (38.5)
Cash flows from financing activities:    
Net short-term borrowings 55.0 26.8
Repayment of long-term debt (205.8) 0.0
Bridge financing fees and other 0.0 35.1
Payment of intangible asset financing arrangement (13.6) (14.0)
Cash dividends paid (103.3) (83.0)
Exercise of stock options and issuance of other stock awards, including tax withholdings (3.1) (2.4)
Other items 0.0 (1.9)
Net cash flows from financing activities (270.8) (109.6)
Effect of exchange rate changes on cash and cash equivalents and restricted cash (0.6) 0.2
Net change in cash and cash equivalents and restricted cash (171.9) (53.2)
Cash and cash equivalents and restricted cash at beginning of period 237.6 129.0
Cash and cash equivalents and restricted cash at end of period $ 65.7 $ 75.8