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INVESTMENTS IN JOINT VENTURES (Tables)
 9 Months Ended
Feb. 26, 2017
INVESTMENTS IN JOINT VENTURES  
Schedule of condensed combined and consolidated balance sheets

The amounts presented for Lamb Weston BSW in the table below exclude intercompany balances eliminated in consolidation and include the non-controlling interest at redemption value as reported in the Condensed Combined and Consolidated Balance Sheets (dollars in millions):  

 

 

 

 

 

 

 

 

 

 

    

February 26,

    

May 29,

 

 

 

2017

 

2016

 

Cash and equivalents

 

$
10.0

 

$
4.3

 

Receivables, less allowance for doubtful accounts (a)

 

 

 —

 

 
0.1

 

Inventories

 

 
1.8

 

 
1.2

 

Prepaid expenses and other current assets

 

 
0.5

 

 
0.4

 

Property, plant and equipment, net

 

 
49.3

 

 
52.2

 

Goodwill

 

 
18.8

 

 
18.8

 

Intangible assets, net

 

 
4.7

 

 
5.2

 

Total assets

 

$
85.1

 

$
82.2

 

Notes payable

 

$

 —

 

$
1.0

 

Current portion of long-term debt

 

 
1.5

 

 
0.5

 

Accounts payable

 

 
9.6

 

 
10.9

 

Accrued liabilities

 

 
1.6

 

 
1.7

 

Long-term debt, excluding current portion

 

 
28.0

 

 
29.5

 

Total liabilities

 

$
40.7

 

$
43.6

 

Redeemable noncontrolling interest (b)

 

$
50.7

 

$
47.4

 

 

 

 

 

 

 

 

 

(a)

As of February 26, 2017 and May 29, 2016, affiliate receivables of $23.6 million and $25.8 million, respectively, are not included above as they are eliminated in consolidation.

(b)

Represents the amount that our joint venture partner, Ochoa, had the right to put its equity interest to Lamb Weston on February 26, 2017 and May 29, 2016.