INVESTMENTS IN JOINT VENTURES (Tables)

12 Months Ended

May 28, 2017

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 Combined and Consolidated Balance Sheets (dollars in millions):


	May 28,		May 29,
	2017		2016
Cash and equivalents	$	10.9	$	4.3
Receivables, less allowance for doubtful accounts (a)		0.1		0.1
Inventories		1.9		1.2
Prepaid expenses and other current assets		0.4		0.4
Property, plant and equipment, net		49.4		52.2
Goodwill		18.8		18.8
Intangible assets, net		4.5		5.2
Total assets	$	86.0	$	82.2
Notes payable	$	—	$	1.0
Current portion of long-term debt		1.5		0.5
Accounts payable		11.6		10.9
Accrued liabilities		2.0		1.7
Long-term debt, excluding current portion		28.0		29.5
Total liabilities	$	43.1	$	43.6
Redeemable noncontrolling interest (b)	$	50.7	$	47.4

(a)

As of May 28, 2017 and May 29, 2016, affiliate receivables of $24.0 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 May 28, 2017 and May 29, 2016.