DERIVATIVE FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

May 29, 2016

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative assets and liabilities and amounts representing right to reclaim cash collateral were reflected in balance sheets

Derivative assets and liabilities and amounts representing a right to reclaim cash collateral or obligation to return cash collateral were reflected in our Consolidated Balance Sheets as follows:

	May 29, 2016		May 31, 2015
Prepaid expenses and other current assets	$	26.1	$	32.2
Other accrued liabilities	0.7		14.2

Schedule of derivative instruments in statement of financial position, gross, fair value

The following table presents our derivative assets and liabilities, at May 29, 2016, on a gross basis, prior to the setoff of $1.8 million to total derivative assets and $2.1 million to total derivative liabilities where legal right of setoff existed:

	Derivative Assets			Derivative Liabilities
	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Commodity contracts	Prepaid expenses and other current assets	$	6.5	Other accrued liabilities	$	2.3
Foreign exchange contracts	Prepaid expenses and other current assets	21.4		Other accrued liabilities	0.2
Other	Prepaid expenses and other current assets	—		Other accrued liabilities	0.3
Total derivatives not designated as hedging instruments		$	27.9		$	2.8
Total derivatives		$	27.9		$	2.8

The following table presents our derivative assets and liabilities, at May 31, 2015, on a gross basis, prior to the setoff of $7.3 million to total derivative assets and $13.2 million to total derivative liabilities where legal right of setoff existed:

	Derivative Assets			Derivative Liabilities
	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Commodity contracts	Prepaid expenses and other current assets	$	20.8	Other accrued liabilities	$	26.9
Foreign exchange contracts	Prepaid expenses and other current assets	17.7		Other accrued liabilities	0.4
Other	Prepaid expenses and other current assets	1.0		Other accrued liabilities	0.1
Total derivatives not designated as hedging instruments		$	39.5		$	27.4
Total derivatives		$	39.5		$	27.4

Location and amount of gains (losses) from derivatives not designated as hedging instruments in condensed consolidated statements of earnings

The location and amount of gains (losses) from derivatives not designated as hedging instruments in our Consolidated Statements of Operations were as follows:

	For the Fiscal Year Ended May 29, 2016
Derivatives Not Designated as Hedging Instruments	Location in Consolidated Statement of Operations of Gain (Loss) Recognized  on Derivatives	Amount of Gain (Loss) Recognized on Derivatives in Consolidated Statement of Operations
Commodity contracts	Cost of goods sold	$	(13.4	)
Foreign exchange contracts	Cost of goods sold	1.5
Foreign exchange contracts	Selling, general and administrative expense	2.9
Total loss from derivative instruments not designated as hedging instruments		$	(9.0	)

	For the Fiscal Year Ended May 31, 2015
Derivatives Not Designated as Hedging Instruments	Location in Consolidated Statement of Operations of Gain (Loss) Recognized on Derivatives	Amount of Gain (Loss) Recognized on Derivatives in Consolidated Statement of Operations
Commodity contracts	Cost of goods sold	$	(80.5	)
Foreign exchange contracts	Cost of goods sold	1.3
Foreign exchange contracts	Selling, general and administrative expense	10.3
Interest rate contracts	Selling, general and administrative expense	(1.4		)
Total loss from derivative instruments not designated as hedging instruments		$	(70.3	)

	For the Fiscal Year Ended May 25, 2014
Derivatives Not Designated as Hedging Instruments	Location in Consolidated Statement of Operations of Gain (Loss) Recognized on Derivatives	Amount of Gain (Loss) Recognized on Derivatives in Consolidated Statement of Operations
Commodity contracts	Cost of goods sold	$	18.9
Foreign exchange contracts	Cost of goods sold	1.9
Commodity contracts	Selling, general and administrative expense	7.9
Foreign exchange contracts	Selling, general and administrative expense	(54.9		)
Total loss from derivative instruments not designated as hedging instruments		$	(26.2	)