DERIVATIVE FINANCIAL INSTRUMENTS (Tables)

3 Months Ended

Aug. 27, 2017

Schedule of derivative assets and liabilities

The following table presents the fair value of derivatives at August 27, 2017 and May 28, 2017 (dollars in millions) in our Condensed Consolidated Balance Sheets:


	August 27, 2017
					Net Amounts
	Gross Amounts		Gross Amounts Offset		Presented in the
Derivative subject to master netting arrangements	Recognized		in the Balance Sheet		Balance Sheet
Assets:
Commodity contracts	$	2.2	$	0.8	$	1.4
Prepaid expenses and other current assets	$	2.2	$	0.8	$	1.4
Liabilities:
Commodity contracts	$	0.1	$	—	$	0.1
Accrued liabilities	$	0.1	$	—	$	0.1


	May 28, 2017
					Net Amounts
	Gross Amounts		Gross Amounts Offset		Presented in the
Derivative subject to master netting arrangements	Recognized		in the Balance Sheet		Balance Sheet
Liabilities:
Commodity contracts	$	3.8	$	1.4	$	2.4
Accrued liabilities	$	3.8	$	1.4	$	2.4

Schedule of location and amount of gains (losses) from derivatives not designated as hedging instruments

The location and amount of gains (losses) from derivatives in our Condensed Combined and Consolidated Statements of Earnings were as follows (dollars in millions):


		Amount of Gain Recognized on
		Derivatives in Condensed Combined
		and Consolidated Statement of Earnings
	Location in Condensed Combined and	for the Thirteen Weeks Ended
Derivatives Not Designated as Hedging	Consolidated Statement of Earnings of Gain	August 27,		August 28,
Instruments	Recognized on Derivatives	2017		2016
Commodity contracts	Cost of sales	$	3.2	$	0.5
Total gains from derivative instruments not designed as hedging instruments		$	3.2	$	0.5

Commodity contracts

DERIVATIVE FINANCIAL INSTRUMENTS

Schedule of location and amount of gains (losses) from derivatives not designated as hedging instruments


	Thirteen Weeks Ended
	August 27,		August 28,
	2017		2016
Net derivative gains (losses) incurred	$	3.2	$	0.5
Less: Net derivative losses allocated to reportable segments		(0.3)		0.2
Net derivative gains (losses) recognized in our Other segment	$	3.5	$	0.3