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Quarterly Data (Unaudited)
 12 Months Ended
May 31, 2020
Quarterly Financial Data [Abstract]  
Quarterly Data (Unaudited) QUARTERLY DATA (UNAUDITED)
The following table summarizes unaudited quarterly data for fiscal 2020 and fiscal 2019:  
 
Fiscal 2020 - Quarters Ended
(in millions, except per share data)
Aug. 25
 
Nov. 24 (1)
 
Feb. 23
 
May 31 (2)
 
Total (3)
Sales
$
2,133.9

 
$
2,056.4

 
$
2,346.5

 
$
1,270.1

 
$
7,806.9

Earnings (loss) before income taxes
190.4

 
(6.2
)
 
265.1

 
(610.3
)
 
(161.0
)
Earnings (loss) from continuing operations
171.8

 
25.4

 
233.3

 
(479.7
)
 
(49.2
)
Losses from discontinued operations, net of tax
(1.2
)
 
(0.7
)
 
(1.0
)
 
(0.3
)
 
(3.2
)
Net earnings (loss)
170.6

 
24.7

 
232.3

 
(480.0
)
 
(52.4
)
Basic net earnings per share:
 
 
 
 
 
 
 
 
 
Earnings (loss) from continuing operations
1.40

 
0.21

 
1.92

 
(3.85
)
 
(0.40
)
Losses from discontinued operations
(0.01
)
 
(0.01
)
 
—

 
(0.01
)
 
(0.03
)
Net earnings (loss)
1.39

 
0.20

 
1.92

 
(3.86
)
 
(0.43
)
Diluted net earnings per share:
 
 
 
 
 
 
 
 
 
Earnings (loss) from continuing operations
1.38

 
0.21

 
1.90

 
(3.85
)
 
(0.40
)
Losses from discontinued operations
(0.01
)
 
(0.01
)
 
(0.01
)
 
(0.01
)
 
(0.03
)
Net earnings (loss)
1.37

 
0.20

 
1.89

 
(3.86
)
 
(0.43
)
 
 
 
 
 
 
 
 
 
 
 
Fiscal 2019 - Quarters Ended
(in millions, except per share data)
Aug. 26
 
Nov. 25
 
Feb. 24
 
May 26
 
Total
Sales
$
2,061.4

 
$
1,973.4

 
$
2,246.5

 
$
2,229.1

 
$
8,510.4

Earnings before income taxes
176.0

 
135.3

 
253.1

 
217.9

 
782.3

Earnings from continuing operations
168.9

 
115.9

 
225.1

 
208.7

 
718.6

Losses from discontinued operations, net of tax
(2.7
)
 
(0.3
)
 
(1.5
)
 
(0.7
)
 
(5.2
)
Net earnings
166.2

 
115.6

 
223.6

 
208.0

 
713.4

Basic net earnings per share:
 
 
 
 
 
 
 
 
 
Earnings from continuing operations
1.36

 
0.94

 
1.83

 
1.70

 
5.82

Losses from discontinued operations
(0.02
)
 
(0.01
)
 
(0.02
)
 
(0.01
)
 
(0.04
)
Net earnings
1.34

 
0.93

 
1.81

 
1.69

 
5.78

Diluted net earnings per share:
 
 
 
 
 
 
 
 
 
Earnings from continuing operations
1.34

 
0.92

 
1.80

 
1.67

 
5.73

Losses from discontinued operations
(0.02
)
 
—

 
(0.01
)
 
—

 
(0.04
)
Net earnings
1.32

 
0.92

 
1.79

 
1.67

 
5.69

 
 
 
 
 
 
 
 
 
 

(1)
The quarter ended November 24, 2019 included a pre-tax pension settlement charge of $147.1 million.
(2)
The quarter ended May 31, 2020 consisted of 14 weeks while all other quarters consisted of 13 weeks. Additionally, the quarter ended May 31, 2020 included impairment charges of $390.0 million related to the economic impact of COVID-19.
(3)
The year ended May 31, 2020 consisted of 53 weeks while the year ended May 26, 2019 consisted of 52 weeks.