LEASES (Tables)

6 Months Ended

Nov. 24, 2019

Leases [Abstract]

Schedule of Operating and Finance Leases Reported in Balance Sheet

Leases reported in our Condensed Consolidated Balance Sheet as of November 24, 2019 were as follows:

	Operating Leases
	Balance Sheet Location	November 24, 2019
ROU assets, net	Other assets	$	235.0
Lease liabilities (current)	Other accrued liabilities		46.9
Lease liabilities (noncurrent)	Other noncurrent liabilities		228.5

	Finance Leases
	Balance Sheet Location	November 24, 2019
ROU assets, at cost	Property, plant and equipment	$	212.9
Less accumulated depreciation	Less accumulated depreciation		(47.8	)
ROU assets, net	Property, plant and equipment, net		165.1
Lease liabilities (current)	Current installments of long-term debt		20.3
Lease liabilities (noncurrent)	Senior long-term debt, excluding current installments		135.6

Components of Total Lease Cost

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

Lease cost	Thirteen weeks ended November 24, 2019		Twenty-six weeks ended November 24, 2019
Operating lease cost	$	18.8	$	36.8
Finance lease cost
Depreciation of leased assets		3.9		7.7
Interest on lease liabilities		2.2		4.5
Short-term lease costs		0.7		1.4
Total lease cost	$	25.6	$	50.4

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 November 24, 2019 were as follows:

	Operating Leases			Finance Leases
Weighted-average remaining lease term (in years)		8.5			8.4
Weighted-average discount rate		3.60	%		5.42	%

Schedule of Cash Flows Arising from Lease Transactions

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

	Twenty-Six Weeks Ended November 24, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows from operating leases	$	27.8
Operating cash outflows from finance leases		4.8
Financing cash outflows from finance leases		10.9
ROU assets obtained in exchange for new lease liabilities:
Operating leases		38.4
Finance leases		1.4

Schedule of Maturities of Lease Liabilities

Maturities of lease liabilities by fiscal year as of November 24, 2019 were as follows:

	Operating Leases			Finance Leases			Total
2020 (remaining year)	$	27.9		$	13.8		$	41.7
2021		54.8			28.5			83.3
2022		41.6			27.0			68.6
2023		35.1			21.9			57.0
2024		27.5			17.7			45.2
Later years		137.4			90.1			227.5
Total lease payments		324.3			199.0			523.3
Less: Imputed interest		(48.9	)		(43.1	)		(92.0	)
Total lease liabilities	$	275.4		$	155.9		$	431.3

Summary of Non-Cancellable Operating Lease Commitments

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