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Combined and Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
May 28, 2017
May 29, 2016
May 31, 2015
Cash flows from operating activities      
Net income $ 340.2 $ 294.6 $ 277.6
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization of intangibles and debt issuance costs 109.1 95.9 96.4
Stock-based compensation expense 15.4 8.9 6.9
Earnings of joint ventures in excess of distributions (22.3) (33.8) (30.7)
Deferred income taxes 14.8 20.7 23.7
Other (4.8) (12.2) (5.9)
Changes in operating assets and liabilities, net of acquisitions:      
Receivables 1.2 (15.1) 3.5
Inventories (26.1) (10.7) (43.8)
Income taxes payable/receivable, net (16.1)    
Prepaid expenses and other current assets (11.9) 3.5 7.6
Accounts payable 12.1 7.5 1.3
Accrued liabilities 35.3 23.0 17.1
Net cash provided by operating activities 446.9 382.3 353.7
Cash flows from investing activities      
Additions to property, plant and equipment (287.4) (152.3) (114.7)
Acquisition of business, net of cash acquired     (74.9)
Proceeds from sale of assets 2.1 8.0 18.4
Net cash used for investing activities (285.3) (144.3) (171.2)
Cash flows from financing activities      
Proceeds from short-term borrowings, net   21.4  
(Repayments) of short-term borrowings, net (2.8)   (12.6)
Proceeds from issuance of debt 798.1 30.0  
Debt repayments (23.8) (39.1) (3.1)
Payments of debt issuance costs (12.3)    
Net transfers (to) from Conagra (38.8) (236.8) (150.7)
Cash distribution to Conagra at Separation (823.5)    
Dividends paid (27.4)    
Cash distributions paid to noncontrolling interest (12.2) (8.3) (11.3)
Other 0.7    
Net cash used for financing activities (142.0) (232.8) (177.7)
Effect of exchange rate changes on cash and cash equivalents 1.1 0.6 (1.2)
Net increase (decrease) in cash and cash equivalents 20.7 5.8 3.6
Cash and cash equivalents, beginning of the period 36.4 30.6  
Cash and cash equivalents, end of period $ 57.1 $ 36.4 $ 30.6