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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended 12 Months Ended
Aug. 30, 2020
Aug. 25, 2019
May 31, 2020
Cash flows from operating activities:      
Net income $ 329.8 $ 174.3  
Adjustments to reconcile net income to net cash flows from operating activities:      
Depreciation and amortization 95.2 96.7  
Asset impairment charges 3.4 67.0  
Loss on divestiture 0.0 1.7  
Distributions in excess of earnings of affiliates 4.0 0.2  
Stock-settled share-based payments expense 16.5 10.2  
Contributions to pension plans (5.9) (3.4)  
Pension benefit (9.6) (5.7)  
Other items 24.3 (2.6)  
Change in operating assets and liabilities excluding effects of business acquisitions and dispositions:      
Receivables 52.4 41.7  
Inventories (202.8) (198.0)  
Deferred income taxes and income taxes payable, net 15.6 (23.9)  
Prepaid expenses and other current assets (16.7) (16.1)  
Accounts payable 20.8 94.3  
Accrued payroll (79.1) (77.6)  
Other accrued liabilities 36.6 48.2  
Net cash flows from operating activities 284.5 207.0  
Cash flows from investing activities:      
Additions to property, plant and equipment (145.5) (106.6)  
Sale of property, plant and equipment 0.6 1.0  
Purchase of marketable securities (1.5) (16.9)  
Sale of marketable securities 3.4 18.2  
Other items 0.1 (3.2)  
Net cash flows from investing activities (142.9) (107.5)  
Cash flows from financing activities:      
Net short-term borrowings (0.5) 55.0  
Repayment of long-term debt (133.4) (205.8)  
Payment of intangible asset financing arrangement (12.9) (13.6)  
Cash dividends paid (103.5) (103.3)  
Exercise of stock options and issuance of other stock awards, including tax withholdings (9.3) (3.1)  
Net cash flows from financing activities (259.6) (270.8)  
Effect of exchange rate changes on cash and cash equivalents and restricted cash 2.9 (0.6)  
Net change in cash and cash equivalents and restricted cash (115.1) (171.9)  
Cash and cash equivalents and restricted cash at beginning of period 554.3 237.6 $ 237.6
Cash and cash equivalents and restricted cash at end of period $ 439.2 $ 65.7 $ 554.3