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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Aug. 25, 2019
Aug. 26, 2018
Cash flows from operating activities    
Net income $ 115.7 $ 111.4
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization of intangibles and debt issuance costs 46.0 38.6
Stock-settled, stock-based compensation expense 5.4 4.2
Earnings of joint ventures in excess of distributions (0.5) (3.2)
Deferred income taxes 10.3 13.9
Other 5.6 3.1
Changes in operating assets and liabilities, net of acquisition:    
Receivables (27.0) (18.6)
Inventories 35.6 33.2
Income taxes payable/receivable, net 24.8 9.5
Prepaid expenses and other current assets 43.3 41.1
Accounts payable 7.7 17.1
Accrued liabilities (28.4) (22.4)
Net cash provided by operating activities 238.5 227.9
Cash flows from investing activities    
Additions to property, plant and equipment (50.3) (87.0)
Acquisition of business, net of cash acquired (116.9)  
Other (9.5) 0.2
Net cash used for investing activities (176.7) (86.8)
Cash flows from financing activities    
Proceeds from issuance of debt 299.3  
Debt repayments (309.0) (10.9)
Dividends paid (29.2) (28.0)
Payments of short-term borrowings (8.3) (1.0)
Repurchase of common stock and common stock withheld to cover taxes (7.4) (3.9)
Cash distributions paid to noncontrolling interest   (2.9)
Other (0.3) 0.8
Net cash used for financing activities (54.9) (45.9)
Effect of exchange rate changes on cash and cash equivalents (0.1) (0.3)
Net increase in cash and cash equivalents 6.8 94.9
Cash and cash equivalents, beginning of the period 12.2 55.6
Cash and cash equivalents, end of period $ 19.0 $ 150.5