DEBT AND FINANCING OBLIGATIONS (Tables)

3 Months Ended

Aug. 25, 2019

DEBT AND FINANCING OBLIGATIONS

Schedule of debt, including financing obligations

	August 25,		May 26,
	2019		2019
Short-term borrowings:
Revolving credit facility	$	—	$	7.2
Other credit facilities		—		1.2
		—		8.4
Long-term debt:
Term loan facility, due 2021		290.6		599.1
Term loan facility, due 2024		300.0		—
4.625% senior notes, due 2024		833.0		833.0
4.875% senior notes, due 2026		833.0		833.0
		2,256.6		2,265.1
Financing obligations:
4.35% lease financing obligation due May 2030 (a)		—		65.3
Lease financing obligations due on various dates through 2040 (b)		14.0		13.6
		14.0		78.9
Total debt and financing obligations		2,270.6		2,352.4
Debt issuance costs		(24.0)		(25.8)
Short-term borrowings		—		(8.4)
Current portion of long-term debt and financing obligations		(36.5)		(38.0)
Long-term debt, excluding current portion	$	2,210.1	$	2,280.2

(a) On May 27, 2019, we adopted ASC 842 and we eliminated this financing obligation, related to a sale leaseback, as part of the cumulative effect transition adjustment. See Note 1, Nature of Operations and Summary of Significant Accounting Policies, for more information.

(b) The interest rates on our lease financing obligations range from 2.95% to 3.93% as of August 25, 2019, and 2.72% to 4.33% as of May 26, 2019.