DERIVATIVE FINANCIAL INSTRUMENTS (Tables)

6 Months Ended

Nov. 29, 2015

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative assets and liabilities and amounts representing right to reclaim cash collateral were reflected in balance sheets

Derivative assets and liabilities and amounts representing a right to reclaim cash collateral or an obligation to return cash collateral were reflected in our Condensed Consolidated Balance Sheets as follows:

	November 29, 2015		May 31, 2015
Prepaid expenses and other current assets	$	28.3	$	32.2
Other accrued liabilities	13.7		14.2

Schedule of derivative instruments in statement of financial position, gross, fair value

The following table presents our derivative assets and liabilities, at November 29, 2015, on a gross basis, prior to the setoff of $18.1 million to total derivative assets and $25.6 million to total derivative liabilities where legal right of setoff existed:

	Derivative Assets			Derivative Liabilities
	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Commodity contracts	Prepaid expenses and other current assets	$	23.2	Other accrued liabilities	$	39.1
Foreign exchange contracts	Prepaid expenses and other current assets	22.1		Other accrued liabilities	—
Other	Prepaid expenses and other current assets	1.1		Other accrued liabilities	0.2
Total derivatives not designated as hedging instruments		$	46.4		$	39.3

The following table presents our derivative assets and liabilities at May 31, 2015, on a gross basis, prior to the setoff of $7.3 million to total derivative assets and $13.2 million to total derivative liabilities where legal right of setoff existed:

	Derivative Assets			Derivative Liabilities
	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Commodity contracts	Prepaid expenses and other current assets	$	20.8	Other accrued liabilities	$	26.9
Foreign exchange contracts	Prepaid expenses and other current assets	17.7		Other accrued liabilities	0.4
Other	Prepaid expenses and other current assets	1.0		Other accrued liabilities	0.1
Total derivatives not designated as hedging instruments		$	39.5		$	27.4

Location and amount of gains (losses) from derivatives not designated as hedging instruments in condensed consolidated statements of earnings

The location and amount of gains (losses) from derivatives not designated as hedging instruments in our Condensed Consolidated Statements of Operations were as follows:

Derivatives Not Designated as Hedging Instruments	Location in Condensed Consolidated Statement of Operations of Gain (Loss) Recognized on Derivatives	Amount of Gain (Loss) Recognized on Derivatives in Condensed Consolidated Statement of Operations for the Thirteen Weeks Ended
		November 29, 2015			November 23, 2014
Commodity contracts	Cost of goods sold	$	(5.7	)	$	(19.2	)
Foreign exchange contracts	Cost of goods sold	—			1.0
Foreign exchange contracts	Selling, general and administrative expense	0.3			2.3
Total loss from derivative instruments not designated as hedging instruments		$	(5.4	)	$	(15.9	)

Derivatives Not Designated as Hedging Instruments	Location in Condensed Consolidated Statement of Operations of Gain (Loss) Recognized on Derivatives	Amount of Gain (Loss) Recognized on Derivatives in Condensed Consolidated Statement of Operations for the Twenty-six Weeks Ended
		November 29, 2015			November 23, 2014
Commodity contracts	Cost of goods sold	$	(15.0	)	$	(46.1	)
Foreign exchange contracts	Cost of goods sold	—			1.3
Foreign exchange contracts	Selling, general and administrative expense	4.7			2.5
Interest rate contracts	Selling, general and administrative expense	—			(1.4		)
Total loss from derivative instruments not designated as hedging instruments		$	(10.3	)	$	(43.7	)