FAIR VALUE MEASUREMENTS (Tables)

6 Months Ended

Nov. 27, 2016

FAIR VALUE MEASUREMENTS

Schedule of financial assets and liabilities measured at fair value on recurring basis

	As of November 27, 2016
	Level 1		Level 2		Level 3		Total
Assets:
Deferred compensation assets	$	0.7	$	—	$	—	$	0.7
Total assets		0.7		—		—		0.7
Liabilities:
Derivative liabilities		—		0.6		—		0.6
Deferred compensation liabilities		6.8		—		—		6.8
Total liabilities	$	6.8	$	0.6	$	—	$	7.4

The following table presents Lamb Weston’s financial assets and liabilities measured at fair value on a recurring basis based upon the level within the fair value hierarchy in which the fair value measurements fall, as of May 29, 2016 (dollars in millions):

	As of May 29, 2016
	Level 1		Level 2		Level 3		Total
Assets:
Derivative assets	$	1.5	$	0.6	$	—	$	2.1
Deferred compensation assets		0.7		—		—		0.7
Total assets		2.2		0.6		—		2.8
Liabilities:
Derivative liabilities		—		0.2		—		0.2
Deferred compensation liabilities		6.5		—		—		6.5
Total liabilities	$	6.5	$	0.2	$	—	$	6.7