STOCKHOLDERS' EQUITY

9 Months Ended

Feb. 25, 2024

Stockholders' Equity Note [Abstract]

STOCKHOLDERS' EQUITY

STOCKHOLDERS’ EQUITY

Share Repurchase Program

On October 11, 2023, we announced that our Board of Directors increased our share repurchase authorization to an aggregate amount of $500.0 million. The program has no expiration date. During the thirteen weeks ended February 25, 2024, we did not repurchase any shares under the program. During the thirty-nine weeks ended February 25, 2024, we repurchased 1,564,351 shares for an aggregate purchase price of $150.0 million, or a weighted-average price of $95.89 per share. As of February 25, 2024, $450.0 million remained authorized for repurchase under the program.

Dividends

During the thirty-nine weeks ended February 25, 2024, we paid $122.0 million of cash dividends to our common stockholders. In addition, on March 1, 2024, we paid $52.0 million of cash dividends to common stockholders of record as of the close of business on February 2, 2024. On March 20, 2024, our Board of Directors declared a cash dividend of $0.36 per share of our common stock. This dividend will be paid on May 31, 2024, to common stockholders of record as of the close of business on May 3, 2024.

Accumulated Other Comprehensive Income (Loss)

Changes in accumulated other comprehensive income (loss), net of taxes, as of February 25, 2024 were as follows:

(in millions)	Foreign Currency Translation Gain (Loss)		Pension and Post-Retirement Benefits		Other		Accumulated Other Comprehensive Income (Loss)
Balance as of May 28, 2023	$	(27.1)	$	(0.7)	$	1.0	$	(26.8)
Other comprehensive income before reclassifications, net of tax	14.0		(0.4)		(0.3)		13.3
Net current-period other comprehensive income	14.0		(0.4)		(0.3)		13.3
Balance as of February 25, 2024	$	(13.1)	$	(1.1)	$	0.7	$	(13.5)