GOODWILL AND OTHER IDENTIFIABLE INTANGIBLE ASSETS (Tables)

12 Months Ended

May 31, 2020

GOODWILL AND OTHER IDENTIFIABLE INTANGIBLE ASSETS

Schedule of changes in the carrying amount of goodwill

	Global		Foodservice		Retail		Other		Total
Balance at May 27, 2018	$	76.9	$	42.8	$	10.9	$	4.5	$	135.1
Acquisition (a)		75.1		—		—		—		75.1
Foreign currency translation adjustment		(4.3)		—		—		—		(4.3)
Balance at May 26, 2019	$	147.7	$	42.8	$	10.9	$	4.5	$	205.9
Acquisition (b)		106.1		—		—		—		106.1
Foreign currency translation adjustment		(8.2)		—		—		—		(8.2)
Balance at May 31, 2020	$	245.6	$	42.8	$	10.9	$	4.5	$	303.8

(a) In December 2018, we acquired a frozen potato processor in Australia and recorded $75.1 million of goodwill in our Global segment. See Note 5, Acquisitions, for more information.

(b) In July 2019, we acquired another frozen potato processor in Australia and recorded $106.1 million of goodwill in our Global segment. See Note 5, Acquisitions, for more information.

Schedule of other identifiable intangible assets, non-amortizing intangible assets

	May 31, 2020							May 26, 2019
	Weighted							Weighted
	Average	Gross						Average	Gross
	Useful Life	Carrying		Accumulated		Intangible		Useful Life	Carrying		Accumulated		Intangible
	(in years)	Amount		Amortization		Assets, Net		(in years)	Amount		Amortization		Assets, Net
Non-amortizing intangible assets (a)	n/a	$	18.0	$	—	$	18.0	n/a	$	18.0	$	—	$	18.0
Amortizing intangible assets (b)	11		42.4		22.1		20.3	14		39.1		19.5		19.6
		$	60.4	$	22.1	$	38.3		$	57.1	$	19.5	$	37.6

(a) Non-amortizing intangible assets represent brands and trademarks.

(b) Amortizing intangible assets are principally composed of licensing agreements, brands, and customer relationships. Amortization expense was $2.5 million, $2.2 million, and $2.4 million in fiscal 2020, 2019, and 2018, respectively.

Schedule of other identifiable intangible assets, amortizing intangible assets

	May 31, 2020							May 26, 2019
	Weighted							Weighted
	Average	Gross						Average	Gross
	Useful Life	Carrying		Accumulated		Intangible		Useful Life	Carrying		Accumulated		Intangible
	(in years)	Amount		Amortization		Assets, Net		(in years)	Amount		Amortization		Assets, Net
Non-amortizing intangible assets (a)	n/a	$	18.0	$	—	$	18.0	n/a	$	18.0	$	—	$	18.0
Amortizing intangible assets (b)	11		42.4		22.1		20.3	14		39.1		19.5		19.6
		$	60.4	$	22.1	$	38.3		$	57.1	$	19.5	$	37.6

(a) Non-amortizing intangible assets represent brands and trademarks.

(b) Amortizing intangible assets are principally composed of licensing agreements, brands, and customer relationships. Amortization expense was $2.5 million, $2.2 million, and $2.4 million in fiscal 2020, 2019, and 2018, respectively.