DEBT AND FINANCING OBLIGATIONS (Tables)

6 Months Ended

Nov. 26, 2023

DEBT AND FINANCING OBLIGATIONS

Schedule of debt, including financing obligations

(in millions)	November 26, 2023				May 28, 2023
		Amount	Interest Rate			Amount	Interest Rate
Short-term borrowings:
U.S. revolving credit facility	$	175.0	6.682	%	$	—	7.710	%
Euro revolving credit facility		98.5	4.695			149.2	4.230
Other credit facilities		23.5	(a)			11.4	(a)
		297.0				160.6
Long-term debt:
Term A-1 loan facility, due June 2026 (b)		236.2	7.203			243.8	5.210
Term A-2 loan facility, due April 2025 (b)		272.2	7.203			280.3	5.380
Term A-3 loan facility, due January 2030 (b)		438.8	7.353			450.0	6.850
RMB loan facility, due February 2027		122.3	4.545			94.7	4.600
Euro loan facility, due December 2024		82.0	4.101			80.4	2.010
4.875% senior notes, due May 2028		500.0	4.875			500.0	4.875
4.125% senior notes, due January 2030		970.0	4.125			970.0	4.125
4.375% senior notes, due January 2032		700.0	4.375			700.0	4.375
		3,321.5				3,319.2
Financing obligations:
Lease financing obligations due on various dates through 2040		6.9				7.7
Total debt and financing obligations		3,625.4				3,487.5
Debt issuance costs and debt discounts (c)		(23.6)				(25.3)
Short-term borrowings, net of debt discounts		(294.3)				(158.5)
Current portion of long-term debt and financing obligations		(55.0)				(55.3)
Long-term debt and financing obligations, excluding current portion	$	3,252.5			$	3,248.4

(a) Other credit facilities consist of several short-term facilities at one of our subsidiaries used for working capital needs and have various interest rates.

(b) The interest rates on the Term A-1, A-2, and A-3 loans do not include anticipated patronage dividends. We have received and expect to continue receiving patronage dividends under all three term loan facilities.

(c) Excludes debt issuance costs of $2.1 million and $2.5 million as of November 26, 2023 and May 28, 2023, respectively, related to our U.S. revolving credit facility, which are recorded in “Other assets” on our Consolidated Balance Sheets.