Asset Retirement Obligations

12 Months Ended

May 29, 2011

Asset Retirement Obligations

Asset Retirement Obligations

Note 9. Asset Retirement Obligations

Our asset retirement obligations arise primarily from contractual commitments to decontaminate machinery and equipment used at our manufacturing facilities at the time we dispose of or replace them. We also have leased facilities where we have asset retirement obligations from contractual commitments to remove leasehold improvements and return the property to a specified condition when the lease terminates.

               We have not recognized any asset retirement obligations associated with the closure or abandonment of the manufacturing facilities we own. Our legal asset retirement obligations for manufacturing facilities arise primarily from local laws and statutes that establish minimum standards or requirements in the event a manufacturing facility is shut down, or otherwise exited or abandoned. As a result, we considered the timing and (or) method of settlement for a conditional asset retirement obligation in the measurement of the related liability and determined that the asset retirement obligations related to these facilities were immaterial to our financial condition and results of operations.

               The following table presents the activity for the asset retirement obligations included in other non-current liabilities for the years ended May 29, 2011 and May 30, 2010:

		(In Millions)
Balance at May 31, 2009		$	3.9
	Liability settled		(0.5	)
	Accretion expense		1.1
Balance at May 30, 2010			4.5
	Liability settled		(1.9	)
	Accretion expense		0.1
Balance at May 29, 2011		$	2.7