ACCRUED LIABILITIES

9 Months Ended

Feb. 23, 2020

ACCRUED LIABILITIES

ACCRUED LIABILITIES

10.   ACCRUED LIABILITIES

The components of accrued liabilities were as follows (dollars in millions):

	February 23,		May 26,
	2020		2019
Compensation and benefits	$	75.8	$	92.4
Accrued trade promotions		53.7		48.6
Dividends payable		33.6		29.2
Accrued interest		26.5		7.6
Current portion of operating lease liabilities (a)		24.3		—
Franchise, property, and sales and use taxes		9.9		8.6
Income taxes payable		1.5		0.5
Other		18.9		30.3
Accrued liabilities	$	244.2	$	217.2

(a) Effective May 27, 2019, we adopted ASC 842, using the modified retrospective transition method and as a result we did not recast our prior period financial statements. See Note 1, Nature of Operations and Summary of Significant Accounting Policies, for more information.