XML 29 R18.htm IDEA: XBRL DOCUMENT v3.6.0.2
Stockholders' Equity
 6 Months Ended
Nov. 27, 2016
Stockholders' Equity Note [Abstract]  
Stockholders' Equity
Stockholders' Equity

Accumulated Other Comprehensive Income (Loss) (AOCI)
The components of accumulated other comprehensive income (loss), net of tax, for the quarters ended November 27, 2016 and November 29, 2015 are as follows:
(in millions)
 
Foreign Currency Translation Adjustment
 
Unrealized Gains (Losses) on Marketable Securities
 
Unrealized Gains (Losses) on Derivatives
 
Benefit Plan Funding Position
 
Accumulated Other Comprehensive Income (Loss)
Balances at August 28, 2016
 
$
(1.2
)
 
$
0.1

 
$
1.4

 
$
(89.7
)
 
$
(89.4
)
Gain (loss)
 
0.6

 
—

 
5.3

 
—

 
5.9

Reclassification realized in net earnings
 
—

 
—

 
—

 
0.2

 
0.2

Balance at November 27, 2016
 
$
(0.6
)
 
$
0.1

 
$
6.7

 
$
(89.5
)
 
$
(83.3
)
 
 
 
 
 
 
 
 
 
 
 
Balance at August 30, 2015
 
$
(0.9
)
 
$
0.1

 
$
(18.4
)
 
$
(66.0
)
 
$
(85.2
)
Gain (loss)
 
0.1

 
—

 
(2.1
)
 
—

 
(2.0
)
Reclassification realized in net earnings
 
—

 
—

 
22.3

 
(0.1
)
 
22.2

Balance at November 29, 2015
 
$
(0.8
)
 
$
0.1

 
$
1.8

 
$
(66.1
)
 
$
(65.0
)


The components of accumulated other comprehensive income (loss), net of tax, for the six months ended November 27, 2016 and November 29, 2015 are as follows:
(in millions)
 
Foreign Currency Translation Adjustment
 
Unrealized Gains (Losses) on Marketable Securities
 
Unrealized Gains (Losses) on Derivatives
 
Benefit Plan Funding Position
 
Accumulated Other Comprehensive Income (Loss)
Balances at May 29, 2016
 
$
(1.2
)
 
$
0.1

 
$
3.9

 
$
(89.8
)
 
$
(87.0
)
Gain (loss)
 
0.6

 
—

 
1.4

 
—

 
2.0

Reclassification realized in net earnings
 
—

 
—

 
1.4

 
0.3

 
1.7

Balance at November 27, 2016
 
$
(0.6
)
 
$
0.1

 
$
6.7

 
$
(89.5
)
 
$
(83.3
)
 
 
 
 
 
 
 
 
 
 
 
Balance at May 31, 2015
 
$
(1.7
)
 
$
0.1

 
$
(19.1
)
 
$
(65.9
)
 
$
(86.6
)
Gain (loss)
 
0.9

 
—

 
(0.1
)
 
—

 
0.8

Reclassification realized in net earnings
 
—

 
—

 
21.0

 
(0.2
)
 
20.8

Balance at November 29, 2015
 
$
(0.8
)
 
$
0.1

 
$
1.8

 
$
(66.1
)
 
$
(65.0
)

The following table presents the amounts and line items in our consolidated statements of earnings where adjustments reclassified from AOCI into net earnings were recorded.
 
 
 
Amount Reclassified from AOCI into Net Earnings
 
 
 
Three Months Ended
 
Six Months Ended
(in millions)
AOCI Components
Location of Gain (Loss) Recognized in Earnings
 
November 27,
2016
 
November 29,
2015
 
November 27,
2016
 
November 29,
2015
Derivatives
 
 
 
 
 
 
 
 
 
Equity contracts
(1)
 
$
—

 
$
—

 
$
(1.4
)
 
$
2.1

Interest rate contracts
(2)
 
—

 
(36.1
)
 
—

 
(37.4
)
Total before tax
 
 
$
—

 
$
(36.1
)
 
$
(1.4
)
 
$
(35.3
)
Tax benefit
 
 
—

 
13.8

 
—

 
14.3

Net of tax
 
 
$
—

 
$
(22.3
)
 
$
(1.4
)
 
$
(21.0
)
 
 
 
 
 
 
 
 
 
 
Benefit plan funding position
 
 
 
 
 
 
 
 
 
Recognized net actuarial loss - pension/postretirement plans
(3)
 
$
(0.8
)
 
$
(0.8
)
 
$
(1.6
)
 
$
(1.4
)
Recognized net actuarial gain - other plans
(4)
 
0.5

 
0.9

 
1.1

 
1.7

Total before tax
 
 
$
(0.3
)
 
$
0.1

 
$
(0.5
)
 
$
0.3

Tax benefit (expense)
 
 
0.1

 
—

 
0.2

 
(0.1
)
Net of tax
 
 
$
(0.2
)
 
$
0.1

 
$
(0.3
)
 
$
0.2



(1)
Primarily included in restaurant labor costs and general and administrative expenses. See Note 11 for additional details.
(2)
Included in interest, net, on our consolidated statements of earnings. Reclassifications for the quarter and six months ended November 29, 2015 primarily related to the acceleration of hedge loss amortization resulting from the pay down of debt.
(3)
Included in the computation of net periodic benefit costs - pension and postretirement plans, which is a component of restaurant labor expenses and general and administrative expenses. See Note 9 for additional details.
(4)
Included in the computation of net periodic benefit costs - other plans, which is a component of general and administrative expenses.