ACCRUED LIABILITIES

12 Months Ended

May 31, 2020

ACCRUED LIABILITIES

ACCRUED LIABILITIES

8.   ACCRUED LIABILITIES

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

	May 31,		May 26,
	2020		2019
Compensation and benefits	$	74.5	$	92.4
Accrued trade promotions		42.5		48.6
Dividends payable to shareholders		33.6		29.2
Current portion of operating lease liabilities (a)		28.4		—
Franchise, property, and sales and use taxes		9.4		8.6
Accrued interest		8.7		7.6
Income taxes payable		1.3		0.5
Other		34.6		30.3
Accrued liabilities	$	233.0	$	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.