Stockholders' Equity

9 Months Ended

Feb. 28, 2021

Stockholders' Equity Note [Abstract]

Stockholders’ Equity

Accumulated Other Comprehensive Income (Loss) (AOCI)

The components of accumulated other comprehensive income (loss), net of tax, for the quarter and nine months ended February 28, 2021 are as follows:


(in millions)	Foreign Currency Translation Adjustment		Unrealized Gains (Losses) on Derivatives		Benefit Plan Funding Position		Accumulated Other Comprehensive Income (Loss)
Balance at November 29, 2020	$	4.7	$	0.9	$	(12.7)	$	(7.1)
Gain (loss)	0.2		8.2		—		8.4
Reclassification realized in net earnings	—		(1.1)		0.5		(0.6)
Balance at February 28, 2021	$	4.9	$	8.0	$	(12.2)	$	0.7

Balance at May 31, 2020	$	4.5	$	(8.6)	$	(13.5)	$	(17.6)
Gain (loss)	0.4		17.2		—		17.6
Reclassification realized in net earnings	—		(0.6)		1.3		0.7
Balance at February 28, 2021	$	4.9	$	8.0	$	(12.2)	$	0.7

The components of accumulated other comprehensive income (loss), net of tax, for the quarter and nine months ended February 23, 2020 are as follows:


(in millions)	Foreign Currency Translation Adjustment		Unrealized Gains (Losses) on Derivatives		Benefit Plan Funding Position		Accumulated Other Comprehensive Income (Loss)
Balance at November 24, 2019	$	4.5	$	3.4	$	(8.4)	$	(0.5)
Gain (loss)	—		0.2		—		0.2
Reclassification realized in net earnings	—		0.5		(0.6)		(0.1)
Balance at February 23, 2020	$	4.5	$	4.1	$	(9.0)	$	(0.4)

Balance at May 26, 2019	$	(1.0)	$	9.0	$	(106.2)	$	(98.2)
Gain (loss)	5.5		(4.9)		(12.7)		(12.1)
Reclassification realized in net earnings	—		—		109.9		109.9
Balance at February 23, 2020	$	4.5	$	4.1	$	(9.0)	$	(0.4)

The following table presents the amounts and line items in our consolidated statements of earnings where adjustments reclassified from AOCI into net earnings were recorded.


		Amount Reclassified from AOCI into Net Earnings
		Three Months Ended				Nine Months Ended
(in millions) AOCI Components	Location of Gain (Loss) Recognized in Earnings	February 28, 2021		February 23, 2020		February 28, 2021		February 23, 2020
Derivatives
Commodity contracts	(1)	$	(0.2)	$	(0.5)	$	(1.1)	$	(1.1)
Equity contracts	(2)	1.3		—		1.6		1.0
Interest rate contracts	(3)	—		—		(0.1)		(0.1)
Total before tax		$	1.1	(0.5)		$	0.4	$	(0.2)
Tax (expense) benefit		—		—		0.2		0.2
Net of tax		$	1.1	$	(0.5)	$	0.6	$	—

Benefit plan funding position
Recognized net actuarial loss - pension/postretirement plans	(4)	$	—	$	(0.1)	$	(0.1)	$	(148.9)
Recognized net actuarial gain (loss) - other plans	(5)	(0.6)		0.8		(1.6)		2.4
Total before tax		$	(0.6)	$	0.7	$	(1.7)	$	(146.5)
Tax (expense) benefit		0.1		(0.1)		0.4		36.6
Net of tax		$	(0.5)	$	0.6	$	(1.3)	$	(109.9)

(1)Primarily included in food and beverage costs and restaurant expenses. See Note 9 for additional details.

(2)Included in general and administrative expenses. See Note 9 for additional details.

(3)Included in interest, net on our consolidated statements of earnings.

(4)Included in the computation of net periodic benefit costs - pension and postretirement plans, which, for fiscal 2021, is a component of general and administrative expenses and other (income) expense, net, and for fiscal 2020, is a component of restaurant labor expenses, general and administrative expenses and other (income) expense, net.

(5)Included in the computation of net periodic benefit costs - other plans, which, for fiscal 2021, is a component of restaurant labor, general and administrative expenses and other (income) expense, net, and for fiscal 2020, is a component of general and administrative expenses.