Note 2 - Assets Held for Sale

6 Months Ended

Nov. 26, 2023

Notes to Financial Statements

Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]

2. ASSETS HELD FOR SALE

During the second quarter of fiscal 2024, we initiated a plan to sell a business with operating results included within our International segment. The assets and liabilities have been reclassified as assets and liabilities held for sale within our Condensed Consolidated Balance Sheets for all periods presented and are expected to be sold within twelve months of initiating our plan. In connection with this activity, we recognized an impairment charge of $34.2 million within selling, general and administrative ("SG&A") expenses in the second quarter of fiscal 2024. 

The assets and liabilities classified as held for sale reflected in our Condensed Consolidated Balance Sheets were as follows:

	November 26, 2023		May 28, 2023
Current assets	$	30.2	$	34.3
Noncurrent assets (including goodwill of $47.4 million and $68.8 million, respectively)		89.5		123.3
Current liabilities		13.1		16.1
Noncurrent liabilities		1.9		5.3