Assets and Liabilities Held for Sale

6 Months Ended

Nov. 30, 2025

Discontinued Operations and Disposal Groups [Abstract]

4. ASSETS AND LIABILITIES HELD FOR SALE

During the second quarter of fiscal 2026, the Company committed to a plan to sell the buildings located at 555-557 Broadway in New York, NY (SoHo), which comprise the Company's headquarters, and its primary distribution facility in Jefferson City, MO. Refer to Note 19, "Subsequent Events," for details regarding the sale-leaseback agreements entered into subsequent to November 30, 2025.

At November 30, 2025, the Company determined that the criteria has been met for classification as held for sale in accordance with ASC 360, Property, Plant, and Equipment. Upon classification, the assets held for sale were measured at the lower of carrying value or fair value less costs to sell and no further depreciation is recorded. Based on the Company's assessment, the fair value less costs to sell exceeded the carrying value and therefore no impairment loss was recognized. These assets are included in Overhead. The Company expects the sale of each of these facilities to result in a gain on sale.

The following tables present the assets and liabilities held for sale by major asset class for each disposal group as of November 30, 2025:


	SoHo Headquarters		Jefferson City Distribution Facility		Total
Land	$	67.9	$	4.6	$	72.5
Building and improvements		240.6		10.8		251.4
Equipment		0.1		0.1		0.2
Prepaid expenses and other current assets (1)		1.4		—		1.4
Other assets and deferred charges (1)		25.2		—		25.2
Total Assets held for sale	$	335.2	$	15.5	$	350.7
Deferred tax liabilities	$	17.6	$	0.9	$	18.5
Total Liabilities held for sale	$	17.6	$	0.9	$	18.5
(1) Includes current and noncurrent deferred lease income and deferred lease costs.