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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
12 Months Ended
May 25, 2025
Accounting Policies [Abstract]  
Schedule of allowance for doubtful accounts

Balance at

Additions Charged

Beginning of

to Costs and

Deductions from

Balance at Close

Period

Expenses

Other1

Reserves2

of Period

Year ended May 25, 2025

$

3.0

1.6

1.0

$

3.6

Year ended May 26, 2024

$

2.7

0.6

0.2

0.5

$

3.0

Year ended May 28, 2023

$

2.8

0.1

(0.1)

0.1

$

2.7

1 Primarily relates to translation.

2 Bad debts charged off and adjustments to previous reserves, less recoveries.

Schedule of estimated useful lives

Years

Land improvements

1 - 40

Buildings

15 - 40

Machinery and equipment

3 - 20

Furniture, fixtures, office equipment and other

5 - 15

Schedule of accumulated balances for each component of other comprehensive income (loss)

2025

2024

Currency translation losses, net of reclassification adjustments

$

(65.8)

$

(89.2)

Derivative adjustments, net of reclassification adjustments

22.0

29.2

Pension and postretirement benefit obligations, net of reclassification adjustments

60.1

24.5

Accumulated other comprehensive income (loss)

$

16.3

$

(35.5)

Schedule of reclassifications from AOCI

Affected Line Item in the Consolidated Statement

2025

2024

2023

of Earnings1

Net derivative adjustments:

Cash flow hedges

$

(2.7)

$

(3.5)

$

(3.3)

Interest expense, net

Cash flow hedges

(4.1)

(4.7)

(1.6)

Equity method investment earnings

(6.8)

(8.2)

(4.9)

Total before tax

1.7

2.0

1.2

Income tax expense

$

(5.1)

$

(6.2)

$

(3.7)

Net of tax

Pension and postretirement benefit obligations:

Net prior service benefit

$

(0.1)

$

(0.1)

$

(0.1)

Pension and postretirement non-service income

Net actuarial gain

(5.1)

(4.7)

(4.4)

Pension and postretirement non-service income

Pension settlement

(13.0)

1.1

Pension and postretirement non-service income

(18.2)

(3.7)

(4.5)

Total before tax

4.4

0.9

1.3

Income tax expense

$

(13.8)

$

(2.8)

$

(3.2)

Net of tax

Currency translation losses

$

41.8

$

$

Selling, general and administrative expenses 2

41.8

Total before tax

Income tax expense

$

41.8

$

$

Net of tax

1 Amounts in parentheses indicate income recognized in the Consolidated Statements of Earnings.

2 Amount represents the reclassification for currency translation losses in connection with the sale of ATFL (see Note 7).