XML 51 R22.htm IDEA: XBRL DOCUMENT v3.10.0.1
Redeemable Noncontrolling Interests
 6 Months Ended
Dec. 01, 2018
Redeemable Noncontrolling Interest, Equity, Fair Value [Abstract]  
Redeemable Noncontrolling Interests Redeemable Noncontrolling Interests
Redeemable noncontrolling interests are reported on the Consolidated Balance Sheets in mezzanine equity in “Redeemable noncontrolling interests.” The Company recognizes changes to the redemption value of redeemable noncontrolling interests as they occur and adjusts the carrying value to equal the redemption value at the end of each reporting period. The redemption amounts have been estimated based on the fair value of the subsidiary, determined based on a weighting of the discounted cash flow and market methods. This represents a level 3 fair value measurement.

Changes in the Company’s redeemable noncontrolling interests for the six months ended December 1, 2018 and December 2, 2017 are as follows:
(In millions)
December 1, 2018
 
December 2, 2017
Beginning Balance
$
30.5

 
$
24.6

Purchase of redeemable noncontrolling interests
(10.1
)
 
(1.0
)
Net income attributable to redeemable noncontrolling interests
0.1

 
—

Exercised options
0.2

 
—

Redemption value adjustment
—

 
0.2

Other adjustments
—

 
0.1

Ending Balance
$
20.7

 
$
23.9