XML 21 R10.htm IDEA: XBRL DOCUMENT v3.8.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Nov. 26, 2017
Nov. 27, 2016
Cash flows—operating activities    
Net earnings $ 203.7 $ 189.7
Losses from discontinued operations, net of tax 6.2 1.1
Adjustments to reconcile net earnings from continuing operations to cash flows:    
Depreciation and amortization 154.9 134.6
Impairments and disposal of assets, net (0.8) (7.7)
Amortization of loan costs and losses on interest-rate related derivatives 0.9 0.5
Stock-based compensation expense 18.1 18.0
Change in current assets and liabilities (98.9) (72.6)
Contributions to pension and postretirement plans (0.8) (0.8)
Change in cash surrender value of trust-owned life insurance (6.9) (3.5)
Deferred income taxes 18.1 (5.8)
Change in deferred rent 19.1 15.9
Change in other assets and liabilities (1.5) 15.1
Other, net 2.0 9.8
Net cash provided by operating activities of continuing operations 314.1 294.3
Cash flows—investing activities    
Purchases of land, buildings and equipment (197.7) (135.3)
Proceeds from disposal of land, buildings and equipment 3.1 6.9
Purchases of marketable securities 0.0 (0.9)
Proceeds from sale of marketable securities 4.4 2.0
Cash used in business acquisitions, net of cash acquired (40.4) 0.0
Purchases of capitalized software and other assets (10.2) (13.4)
Net cash used in investing activities of continuing operations (240.8) (140.7)
Cash flows—financing activities    
Proceeds from issuance of common stock 17.4 46.0
Income tax benefits credited to equity 0.0 8.3
Dividends paid (157.0) (139.5)
Repurchases of common stock (188.9) (214.7)
Proceeds from issuance of short-term debt 593.6 0.0
Repayments of short-term debt (440.1) 0.0
Principal payments on capital and financing leases (2.3) (1.8)
Other, net (8.2) 0.5
Net cash used in financing activities of continuing operations (185.5) (301.2)
Cash flows—discontinued operations    
Net cash used in operating activities of discontinued operations (6.2) (10.4)
Net cash used in discontinued operations (6.2) (10.4)
Decrease in cash and cash equivalents (118.4) (158.0)
Cash and cash equivalents - beginning of period 233.1 274.8
Cash and cash equivalents - end of period 114.7 116.8
Cash flows from changes in current assets and liabilities    
Receivables, net 9.5 (1.7)
Inventories (20.1) (8.3)
Prepaid expenses and other current assets (12.8) (5.3)
Accounts payable (9.0) (3.5)
Accrued payroll (20.1) (26.1)
Prepaid/accrued income taxes 1.0 1.4
Other accrued taxes 2.3 (0.2)
Unearned revenues (16.9) (12.9)
Other current liabilities (32.8) (16.0)
Change in current assets and liabilities $ (98.9) $ (72.6)