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PRE-TAX INCOME AND INCOME TAXES (Tables)
 12 Months Ended
May. 31, 2015
Income Tax Disclosure [Abstract]  
Pre-tax income from continuing operations (including equity method investment earnings)
Pre-tax income from continuing operations (including equity method investment earnings) consisted of the following:
 
2015
 
2014
 
2013
United States
$
(444.5
)
 
$
276.9

 
$
962.6

Canada
9.1

 
57.2

 
49.2

Foreign - other
62.0

 
59.7

 
48.5

 
$
(373.4
)
 
$
393.8

 
$
1,060.3
Provision for income taxes from continuing operations
The provision for income taxes included the following:
 
2015
 
2014
 
2013
Current
 
 
 
 
 
Federal
$
301.4

 
$
312.1

 
$
149.0

State
28.3

 
29.2

 
23.5

Canada
8.1

 
11.4

 
11.4

Foreign - other
21.2

 
10.9

 
12.4

 
359.0

 
363.6

 
196.3

Deferred
 
 
 
 
 
Federal
(88.6
)
 
(76.1
)
 
160.9

State
(31.2
)
 
(56.7
)
 
4.5

Canada
2.8

 
3.3

 
1.6

Foreign - other
(8.0
)
 
(14.0
)
 
(1.4
)
 
(125.0
)
 
(143.5
)
 
165.6

 
$
234.0

 
$
220.1

 
$
361.9
Income tax reconciliation
Income taxes computed by applying the U.S. Federal statutory rates to income from continuing operations before income taxes are reconciled to the provision for income taxes set forth in the Consolidated Statements of Operations as follows:
 
2015
 
2014
 
2013
Computed U.S. Federal income taxes
$
(130.7
)
 
$
137.8

 
$
371.1

State income taxes, net of U.S. Federal tax impact
23.2

 
19.3

 
17.1

Tax credits and domestic manufacturing deduction
(35.6
)
 
(27.5
)
 
(20.4
)
Audit adjustments and settlements
(5.2
)
 
(19.1
)
 
0.5

Effect of taxes booked on foreign operations
(13.7
)
 
(20.6
)
 
(11.5
)
Statute lapses on previously reserved items
(9.4
)
 
(7.4
)
 
(4.8
)
Goodwill and intangible impairments
429.1

 
185.2

 
—

Change in legal structure and other state elections
—

 
(23.5
)
 
—

Change in estimate related to tax methods used for certain international sales, federal credits, and state credits.
(11.1
)
 
(20.9
)
 
—

Other
(12.6
)
 
(3.2
)
 
9.9

 
$
234.0

 
$
220.1

 
$
361.9
Tax effect of temporary differences and carryforwards
The tax effect of temporary differences and carryforwards that give rise to significant portions of deferred tax assets and liabilities consisted of the following:
 
May 31, 2015
 
May 25, 2014
 
Assets
 
Liabilities
 
Assets
 
Liabilities
Property, plant and equipment
$
—

 
$
546.9

 
$
—

 
$
553.6

Goodwill, trademarks and other intangible assets
—

 
1,218.5

 
—

 
1,345.4

Accrued expenses
27.8

 
—

 
34.8

 
—

Compensation related liabilities
81.7

 
—

 
69.2

 
—

Pension and other postretirement benefits
306.2

 
—

 
279.2

 
—

Investment in unconsolidated subsidiaries
—

 
211.6

 
—

 
7.7

Derivative cash flow hedge
—

 
0.6

 
—

 
0.8

Other liabilities that will give rise to future tax deductions
135.5

 
—

 
150.7

 
—

Net operating loss carryforwards
43.0

 
—

 
56.0

 
—

Other
117.2

 
60.2

 
124.7

 
25.7

 
711.4

 
2,037.8

 
714.6

 
1,933.2

Less: Valuation allowance
(41.5
)
 
—

 
(43.3
)
 
—

Net deferred taxes
$
669.9

 
$
2,037.8

 
$
671.3

 
$
1,933.2
Change in the unrecognized tax benefits
The change in the unrecognized tax benefits for the year ended May 31, 2015 was:
Beginning balance on May 25, 2014
$
84.9

Increases from positions established during prior periods
4.1

Decreases from positions established during prior periods
(1.7
)
Increases from positions established during the current period
4.4

Decreases relating to settlements with taxing authorities
(6.3
)
Reductions resulting from lapse of applicable statute of limitation
(10.0
)
Other adjustments to liability
(1.7
)
Ending balance on May 31, 2015
$
73.7