GOODWILL AND OTHER IDENTIFIABLE INTANGIBLE ASSETS (Tables)

9 Months Ended

Feb. 28, 2021

GOODWILL AND OTHER IDENTIFIABLE INTANGIBLE ASSETS

Schedule of changes in the carrying amount of goodwill

	Global		Foodservice		Retail		Other		Total
Balance at May 31, 2020	$	245.6	$	42.8	$	10.9	$	4.5	$	303.8
Foreign currency translation adjustment		29.9		—		—		—		29.9
Balance at February 28, 2021	$	275.5	$	42.8	$	10.9	$	4.5	$	333.7

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

	February 28, 2021							May 31, 2020
	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		43.9		(24.4)		19.5	11		42.4		(22.1)		20.3
		$	61.9	$	(24.4)	$	37.5		$	60.4	$	(22.1)	$	38.3

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

(b) Amortizing intangible assets are principally composed of licensing agreements, brands, and customer relationships. In addition, developed technology is recorded as “Other assets” on our Consolidated Balance Sheet. Amortization expense was $1.5 million and $0.6 million for the thirteen weeks ended February 28, 2021 and February 23, 2020, respectively; and $3.6 million and $1.9 million for the thirty-nine weeks ended February 28, 2021 and February 23, 2020, respectively. Foreign intangible assets are affected by foreign currency translation.

Schedule of other identifiable intangible assets, amortizing intangible assets

	February 28, 2021							May 31, 2020
	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		43.9		(24.4)		19.5	11		42.4		(22.1)		20.3
		$	61.9	$	(24.4)	$	37.5		$	60.4	$	(22.1)	$	38.3

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

(b) Amortizing intangible assets are principally composed of licensing agreements, brands, and customer relationships. In addition, developed technology is recorded as “Other assets” on our Consolidated Balance Sheet. Amortization expense was $1.5 million and $0.6 million for the thirteen weeks ended February 28, 2021 and February 23, 2020, respectively; and $3.6 million and $1.9 million for the thirty-nine weeks ended February 28, 2021 and February 23, 2020, respectively. Foreign intangible assets are affected by foreign currency translation.