NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

May 28, 2017

NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Schedule of major classes of inventories

The components of inventories were as follows: (dollars in millions):

	May 28,		May 29,
	2017		2016
Raw materials and packaging	$	84.5	$	86.2
Finished goods		409.7		384.3
Supplies and other		30.8		28.4
Inventories	$	525.0	$	498.9

Schedule of components of property, plant and equipment

The components of property, plant and equipment were as follows (dollars in millions):

	May 28,		May 29,
	2017		2016
Land and land improvements	$	139.8	$	136.5
Buildings, machinery, and equipment		1,917.7		1,776.1
Furniture, fixtures, office equipment, and other		62.6		53.1
Construction in progress		229.4		68.5
Property, plant and equipment, at cost		2,349.5		2,034.2
Less accumulated depreciation		(1,078.3)		(991.1)
Property, plant and equipment, net	$	1,271.2	$	1,043.1

Schedule of estimated useful lives

Land improvements	1-40 years
Buildings	15-40 years
Machinery and equipment	3-20 years
Furniture, fixtures, office equipment, and other	5-15 years