SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

6 Months Ended

Nov. 28, 2021

Accounting Policies [Abstract]

Schedule of Accumulated Balances for Each Component of Other Comprehensive Income (Loss), Net of Tax

The following table details the accumulated balances for each component of other comprehensive income (loss), net of tax:

	November 28, 2021			May 30, 2021
Currency translation losses, net of reclassification adjustments	$	(107.7	)	$	(77.1	)
Derivative adjustments, net of reclassification adjustments		23.6			24.3
Pension and postretirement benefit obligations, net of reclassification adjustments		59.3			58.6
Accumulated other comprehensive income (loss)	$	(24.8	)	$	5.8

Summary of Reclassifications from Accumulated Other Comprehensive Income (Loss) into Income

The following table summarizes the reclassifications from accumulated other comprehensive income (loss) into income:

	Thirteen Weeks Ended						Affected Line Item in the Condensed Consolidated Statement of Earnings1
	November 28, 2021			November 29, 2020
Net derivative adjustments:
Cash flow hedges	$	(0.7	)	$	(0.7	)	Interest expense, net
Cash flow hedges		—			(0.5	)	Selling, general and administrative expenses
Cash flow hedges		0.4			—		Equity method investment earnings
		(0.3	)		(1.2	)	Total before tax
		—			0.3		Income tax expense
	$	(0.3	)	$	(0.9	)	Net of tax
Pension and postretirement liabilities:
Net prior service cost	$	0.1		$	0.1		Pension and postretirement non-service income
Net actuarial gain		(1.0	)		(0.9	)	Pension and postretirement non-service income
		(0.9	)		(0.8	)	Total before tax
		0.3			0.2		Income tax expense
	$	(0.6	)	$	(0.6	)	Net of tax

	Twenty-Six Weeks Ended						Affected Line Item in the Condensed Consolidated Statement of Earnings1
	November 28, 2021			November 29, 2020
Net derivative adjustment, net of tax:
Cash flow hedges	$	(1.5	)	$	(1.6	)	Interest expense, net
Cash flow hedges		—			(0.5	)	Selling, general and administrative expenses
Cash flow hedges		0.9			—		Equity method investment earnings
		(0.6	)		(2.1	)	Total before tax
		0.1			0.5		Income tax expense
	$	(0.5	)	$	(1.6	)	Net of tax
Pension and postretirement liabilities:
Net prior service cost	$	0.1		$	0.2		Pension and postretirement non-service income
Net actuarial gain		(1.8	)		(1.8	)	Pension and postretirement non-service income
		(1.7	)		(1.6	)	Total before tax
		0.5			0.4		Income tax expense
	$	(1.2	)	$	(1.2	)	Net of tax

¹Amounts in parentheses indicate income recognized in the Condensed Consolidated Statements of Earnings.