Fair Value Measurements (Tables)

6 Months Ended

Nov. 30, 2019

Fair Value Disclosures [Abstract]

Schedule of Long-term Debt Instruments

The carrying value and fair value of the Company's long-term debt, including current maturities, is as follows for the periods indicated:

(In millions)	November 30, 2019		June 1, 2019
Carrying value	$	278.3	$	285.0
Fair value	$	280.9	$	287.8

Assets and Liabilities Measured at Fair Value and Recorded in Net Earnings

The following table sets forth financial assets and liabilities measured at fair value and recorded in net earnings and the respective pricing levels to which the fair value measurements are classified within the fair value hierarchy as of November 30, 2019 and June 1, 2019.

(In millions)	November 30, 2019						June 1, 2019
Financial Assets	NAV		Quoted Prices with Other Observable Inputs (Level 2)		Management Estimate (Level 3)		NAV		Quoted Prices with Other Observable Inputs (Level 2)		Management Estimate (Level 3)
Cash equivalents:
Money market funds	$	6.7	$	—	$	—	$	69.5	$	—	$	—
Mutual funds - equity	—		0.9		—		—		0.9		—
Deferred compensation plan	—		14.2		—		—		12.5		—
Total	$	6.7	$	15.1	$	—	$	69.5	$	13.4	$	—
Financial Liabilities
Foreign currency forward contracts	$	—	$	—	$	—	$	—	$	1.4	$	—
Total	$	—	$	—	$	—	$	—	$	1.4	$	—

Assets and Liabilities Measured at Fair Value and Recorded in Other Comprehensive Income

The following table sets forth financial assets and liabilities measured at fair value and recorded in other comprehensive income and the respective pricing levels to which the fair value measurements are classified within the fair value hierarchy as of November 30, 2019 and June 1, 2019.

(In millions)	November 30, 2019		June 1, 2019
Financial Assets	Quoted Prices with Other Observable Inputs (Level 2)		Quoted Prices with Other Observable Inputs (Level 2)
Mutual funds - fixed income	$	8.1	$	7.9
Interest rate swap agreement	—		1.0
Total	$	8.1	$	8.9
Financial Liabilities
Interest rate swap agreement	$	8.3	$	2.2
Total	$	8.3	$	2.2

Unrealized Gain (Loss) on Investments

The following is a summary of the carrying and market values of the Company's fixed income mutual funds and equity mutual funds as of the respective dates:

	November 30, 2019						June 1, 2019
(In millions)	Cost		Unrealized Gain/(Loss)		Market Value		Cost		Unrealized Gain/(Loss)		Market Value
Mutual funds - fixed income	$	8.0	$	0.1	$	8.1	$	7.9	$	—	$	7.9
Mutual funds - equity	0.8		0.1		0.9		0.8		0.1		0.9
Total	$	8.8	$	0.2	$	9.0	$	8.7	$	0.1	$	8.8