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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Nov. 24, 2019
Nov. 25, 2018
Cash flows—operating activities    
Net earnings $ 195.3 $ 281.8
Losses from discontinued operations, net of tax 1.9 3.0
Adjustments to reconcile net earnings from continuing operations to cash flows:    
Depreciation and amortization 173.8 163.5
Impairments and disposal of assets, net 0.1 2.8
Stock-based compensation expense 28.0 31.6
Change in current assets and liabilities (86.8) (90.0)
Contributions to pension and postretirement plans (13.1) (0.9)
Deferred income taxes (8.4) 10.8
Change in deferred rent 0.0 18.7
Change in other assets and liabilities 6.8 3.2
Pension settlement charge 147.1 0.0
Other, net (1.6) 9.4
Net cash provided by operating activities of continuing operations 443.1 433.9
Cash flows—investing activities    
Purchases of land, buildings and equipment (256.5) (233.0)
Proceeds from disposal of land, buildings and equipment 4.3 0.8
Cash used in business acquisitions, net of cash acquired (37.0) 0.0
Purchases of capitalized software and other assets (10.8) (11.5)
Other, net (9.7) 1.9
Net cash used in investing activities of continuing operations (309.7) (241.8)
Cash flows—financing activities    
Proceeds from issuance of common stock 14.8 41.7
Dividends paid (215.7) (186.0)
Repurchases of common stock (230.9) (92.3)
Proceeds from issuance of short-term debt 0.0 132.0
Repayments of short-term debt 0.0 (87.0)
Principal payments on capital and financing leases (2.5) (3.2)
Other, net 0.5 0.1
Net cash used in financing activities of continuing operations (433.8) (194.7)
Cash flows—discontinued operations    
Net cash provided by (used in) operating activities of discontinued operations 0.4 (4.6)
Net cash provided by (used in) discontinued operations 0.4 (4.6)
Decrease in cash and cash equivalents (300.0) (7.2)
Cash and cash equivalents - beginning of period 457.3 146.9
Cash and cash equivalents - end of period 157.3 139.7
Cash flows from changes in current assets and liabilities    
Receivables, net 7.3 3.2
Inventories (4.8) (4.1)
Prepaid expenses and other current assets (5.0) (9.9)
Accounts payable (5.2) 10.5
Accrued payroll (38.2) (37.7)
Prepaid/accrued income taxes (1.9) (0.4)
Other accrued taxes 6.4 0.2
Unearned revenues (38.2) (28.5)
Other current liabilities (7.2) (23.3)
Change in current assets and liabilities $ (86.8) $ (90.0)