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NEW ACCOUNTING PRONOUNCEMENTS
3 Months Ended
Aug. 27, 2017
New Accounting Pronouncements [Abstract]  
New Accounting Pronouncements

(16) New Accounting Pronouncements

In the first quarter of fiscal 2018, we adopted new requirements for the accounting and presentation of stock-based payments. The adoption of this guidance resulted in the prospective recognition of realized windfall and shortfall tax benefits related to the exercise or vesting of stock-based awards in our Consolidated Statements of Earnings instead of additional paid-in capital within our Consolidated Balance Sheets. We recognized a windfall tax benefit of $17.7 million in income tax expense in our Consolidated Statements of Earnings for the quarter ended August 27, 2017. We retrospectively adopted the guidance related to reclassification of realized windfall tax benefits in our Consolidated Statements of Cash Flows. This resulted in a reclassification of $17.7 million and $53.0 million of cash provided by financing activities to operating activities for the quarters ended August 27, 2017 and August 28, 2016, respectively. Additionally, we retrospectively adopted the guidance related to reclassification of employee tax withholdings in our Consolidated Statements of Cash Flows. This resulted in a reclassification of $19.9 million and $29.5 million of cash used by operating activities to financing activities for the quarters ended August 27, 2017 and August 28, 2016, respectively. Stock-based compensation expense continues to reflect estimated forfeitures.

In the first quarter of fiscal 2018, we adopted new accounting requirements which permit reporting entities to measure a goodwill impairment loss by the amount by which a reporting unit’s carrying value exceeds the reporting unit’s fair value. Previously, goodwill impairment losses were required to be measured by determining the implied fair value of goodwill. The adoption of this guidance did not impact our result of operations or financial position.