DISCONTINUED OPERATIONS (Tables)

12 Months Ended

May. 31, 2015

Discontinued Operations and Disposal Groups [Abstract]

Comparative financial results of the discontinued operations

The summary comparative financial results of discontinued operations were as follows:

	2015			2014			2013
Net sales	$	16.2		$	1,929.3		$	2,014.9
Net gain on sale of businesses	$	627.3		$	116.6		$	—
Long-lived asset impairment charge	—			(25.4		)	—
Income (loss) from operations of discontinued operations before income taxes	(9.9		)	132.6			126.0
Income before income taxes	617.4			223.8			126.0
Income tax expense	250.8			82.7			38.3
Equity method investment earnings	—			0.3			—
Income from discontinued operations, net of tax	$	366.6		$	141.4		$	87.7

Assets and liabilities classified as held for sale

The assets and liabilities classified as held for sale reflected in our Consolidated Balance Sheets were as follows:

	May 25, 2014
Cash and cash equivalents	$	41.8
Receivables, less allowance for doubtful accounts of $1.2	172.4
Receivable on sale of flour milling assets	162.4
Inventories	215.6
Prepaids and other current assets	39.5
Current assets held for sale	$	631.7
Property, plant and equipment, net	$	186.8
Goodwill	8.0
Brands, trademarks and other intangibles, net	0.9
Other assets	3.2
Noncurrent assets held for sale	$	198.9
Current installments of long-term debt	$	0.1
Accounts payable	143.1
Accrued payroll	2.3
Other accrued liabilities	19.3
Current liabilities held for sale	$	164.8
Senior long-term debt, excluding current installments	$	0.1
Other noncurrent liabilities	1.9
Noncurrent liabilities held for sale	$	2.0