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Short-Term Borrowings and Long-Term Debt (Tables)

6 Months Ended

Nov. 28, 2020

Short-term borrowings and long-term debt as of November 28, 2020 and May 30, 2020 consisted of the following obligations:


(In millions)	November 28, 2020		May 30, 2020

Debt securities, 6.0%, due March 1, 2021	$	50.0	$	50.0
Debt securities, 4.95%, due May 20, 2030	49.9		49.9
Syndicated revolving line of credit, due August 2024	225.0		490.0

Supplier financing program	2.3		1.4
Total debt	$	327.2	$	591.3
Less: Current debt	(52.3)		(51.4)
Long-term debt	$	274.9	$	539.9

Schedule of Line of Credit Facilities

Available borrowings under the syndicated revolving line of credit were as follows for the periods indicated:


(In millions)	November 28, 2020		May 30, 2020
Syndicated revolving line of credit borrowing capacity	$	500.0	$	500.0
Less: Borrowings under the syndicated revolving line of credit	225.0		490.0
Less: Outstanding letters of credit	9.8		9.4
Available borrowings under the syndicated revolving line of credit	$	265.2	$	0.6

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

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+ Details