STOCK-BASED COMPENSATION (Tables)

12 Months Ended

May 31, 2020

STOCK-BASED COMPENSATION

The schedule of RSU and Performance Share activity

	Stock-Settled				Performance Shares				Cash-Settled
			Weighted-				Weighted-				Weighted-
			Average				Average				Average
			Grant-				Grant-				Grant-
			Date Fair				Date Fair				Date Fair
	Shares		Value		Shares		Value		Shares		Value
Outstanding at May 26, 2019		641,020	$	49.17		314,281	$	51.06		120,810	$	28.33
Granted (a)		232,471		68.69		104,250		67.90		—		—
Performance condition adjustment (b)		—		—		67,224		60.66		—		—
Vested (c)		(180,895)		31.57		(36,532)		30.80		(120,810)		28.33
Forfeited/expired/cancelled		(30,391)		61.16		(4,766)		66.87		—		—
Outstanding at May 31, 2020		662,205	$	60.28		444,457	$	57.96		—	$	—

(a) Granted represents new grants and dividend equivalents accrued.

(b) Amount represents the adjustment to Performance Shares based on performance results attained in excess of target.

(c) The aggregate fair value of awards that vested in fiscal 2020, 2019, and 2018 was $24.9 million, $24.7 million, and $16.6 million, respectively, which represents the market value of our common stock on the date that the RSUs and Performance Shares vested. The number of RSUs and Performance Shares vested includes shares of common stock that we withheld on behalf of employees to satisfy the minimum statutory tax withholding requirements. RSUs that are expected to vest are net of estimated future forfeitures.

Schedule of compensation expenses for stock-based awards recognized, net of forfeitures

	For the Fiscal Years Ended May
	2020		2019		2018
Stock-settled RSUs	$	12.9	$	10.2	$	7.9
Performance Shares		9.8		8.3		4.4
Stock options		0.1		0.3		1.2
Stock-settled compensation expense		22.8		18.8		13.5
Cash-settled RSUs (a)		1.0		3.3		8.8
Total compensation expense		23.8		22.1		22.3
Income tax benefit (b)		(4.6)		(4.4)		(5.6)
Total compensation expense, net of tax benefit	$	19.2	$	17.7	$	16.7

(a) As of May 31, 2020, there were no outstanding cash-settled RSUs. During fiscal 2020-2018, cash-settled RSUs were marked-to-market and presented within “Accrued liabilities” and “Other noncurrent liabilities” in our Consolidated Balance Sheets.

(b) Income tax benefit represents the marginal tax rate, excluding non-deductible compensation.

Schedule of total unrecognized compensation expense, net of estimated forfeitures, related to stock-based payments

			Remaining
			Weighted
	Unrecognized		Average
	Compensation		Recognition
	Expense		Period (in years)
Stock-settled RSUs	$	15.9		1.7
Performance Shares		7.7		1.5
Total unrecognized stock-based expense	$	23.6		1.6