DEBT AND FINANCING OBLIGATIONS (Tables)

3 Months Ended

Aug. 28, 2022

DEBT AND FINANCING OBLIGATIONS

Schedule of debt, including financing obligations

	August 28,		May 29,
(in millions)	2022		2022
Short-term borrowings:
Other credit facilities	$	9.1	$	—
Long-term debt:
Term A-1 loan facility, due June 2024		255.0		258.7
Term A-2 loan facility, due April 2025		292.5		296.6
RMB loan facility, due February 2027 (a)		31.0		19.7
4.875% senior notes, due May 2028		500.0		500.0
4.125% senior notes, due January 2030		970.0		970.0
4.375% senior notes, due January 2032		700.0		700.0
		2,748.5		2,745.0
Financing obligations:
Lease financing obligations due on various dates through 2040 (b)		7.0		7.0
Total debt and financing obligations		2,764.6		2,752.0
Debt issuance costs (c)		(23.2)		(24.0)
Short-term borrowings		(9.1)		—
Current portion of long-term debt and financing obligations		(32.2)		(32.2)
Long-term debt and financing obligations, excluding current portion	$	2,700.1	$	2,695.8

(a) The effective average interest rate on this facility was 4.60% as of August 28, 2022.

(b) The interest rates on our lease financing obligations ranged from 2.08% to 3.32% as of August 28, 2022 and May 29, 2022.

(c) Excludes debt issuance costs of $3.1 million and $3.3 million as of August 28, 2022 and May 29, 2022, respectively, related to our revolving credit facility, which are recorded in “Other assets” on our Consolidated Balance Sheets.