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Consolidated Statements Of Cash Flows - USD ($)
$ in Millions
12 Months Ended
May 31, 2020
May 26, 2019
May 27, 2018
Cash flows - operating activities      
Net earnings (loss) $ (52.4) $ 713.4 $ 596.0
Losses from discontinued operations, net of tax 3.2 5.2 7.8
Adjustments to reconcile net earnings (loss) from continuing operations to cash flows:      
Depreciation and amortization 355.9 336.7 313.1
Goodwill and other impairments and disposal of assets, net (390.2) (19.0) (3.4)
Stock-based compensation expense 53.0 59.8 42.8
Change in current assets and liabilities (73.3) 36.4 (8.0)
Contributions to pension and postretirement plans (14.4) (1.7) (62.0)
Deferred income taxes (133.6) 47.5 (20.6)
Change in deferred rent 0.0 34.3 36.6
Change in other assets and liabilities 38.3 9.5 14.6
Pension settlement charge 145.5 0.0 0.0
Loss on extinguishment of debt 0.0 0.0 102.2
Other, net 5.0 7.5 (6.1)
Net cash provided by operating activities of continuing operations 717.4 1,267.6 1,019.8
Cash flows - investing activities      
Purchases of land, buildings and equipment (459.9) (452.0) (396.0)
Proceeds from disposal of land, buildings and equipment 5.8 13.2 3.3
Cash used in business acquisitions, net of cash acquired (55.8) 0.0 (40.4)
Purchases of capitalized software and other assets (24.6) (25.9) (22.8)
Other, net (9.5) 2.1 4.8
Net cash used in investing activities of continuing operations (544.0) (462.6) (451.1)
Cash flows - financing activities      
Net proceeds from issuance of common stock 525.9 59.3 37.8
Dividends paid (322.3) (370.8) (313.5)
Repurchases of common stock (330.3) (207.5) (234.8)
Proceeds from issuance of short-term debt 1,020.0 137.5 960.0
Repayments of short-term debt (750.0) (137.5) (960.0)
Repayments of long-term debt 0.0 0.0 (408.2)
Proceeds from issuance of long-term debt 0.0 0.0 300.0
Principal payments on capital and financing leases (5.2) (6.2) (5.4)
Proceeds from financing lease obligation 0.0 40.9 0.0
Other, net 0.6 0.1 (12.5)
Net cash provided by (used) in financing activities of continuing operations 138.7 (484.2) (636.6)
Cash flows - discontinued operations      
Net cash used in operating activities of discontinued operations (6.1) (10.4) (18.5)
Net cash provided by investing activities of discontinued operations 0.0 0.0 0.2
Net cash used in discontinued operations (6.1) (10.4) (18.3)
Increase (decrease) in cash and cash equivalents 306.0 310.4 (86.2)
Cash and cash equivalents - beginning of year 457.3 146.9 233.1
Cash and cash equivalents - end of year 763.3 457.3 146.9
Cash flows from changes in current assets and liabilities      
Receivables, net 13.7 2.1 (7.2)
Inventories (13.9) (2.1) (26.6)
Prepaid expenses and other current assets (2.8) (8.2) (12.5)
Accounts payable (68.5) 55.0 12.6
Accrued payroll (25.3) (2.2) 25.9
Prepaid/accrued income taxes 17.8 (14.2) (9.9)
Other accrued taxes (10.9) (2.4) 1.6
Unearned revenues 39.4 11.3 33.5
Other current liabilities (22.8) (2.9) (25.4)
Change in current assets and liabilities $ (73.3) $ 36.4 $ (8.0)