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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Nov. 28, 2021
Nov. 29, 2020
Cash flows—operating activities    
Net earnings $ 424.1 $ 132.1
Losses from discontinued operations, net of tax 1.0 2.1
Adjustments to reconcile net earnings from continuing operations to cash flows:    
Depreciation and amortization 181.1 173.6
Stock-based compensation expense 38.1 41.4
Change in current assets and liabilities (156.2) (6.9)
Contributions to pension and postretirement plans (1.1) (0.7)
Deferred income taxes 7.5 (8.0)
Change in other assets and liabilities (9.4) 118.4
Other, net (3.6) (23.4)
Net cash provided by operating activities of continuing operations 481.5 428.6
Cash flows—investing activities    
Purchases of land, buildings and equipment (173.3) (108.2)
Proceeds from disposal of land, buildings and equipment 6.0 5.4
Purchases of capitalized software and other assets (11.8) (6.6)
Other, net 1.3 (0.3)
Net cash used in investing activities of continuing operations (177.8) (109.7)
Cash flows—financing activities    
Proceeds from issuance of common stock 25.7 10.4
Dividends paid (286.1) (39.1)
Repurchases of common stock (452.3) (6.8)
Repayments of short-term debt 0.0 (270.0)
Principal payments on finance leases (5.6) (2.9)
Payments of debt issuance costs (2.7) 0.0
Net cash used in financing activities of continuing operations (721.0) (308.4)
Cash flows—discontinued operations    
Net cash provided by operating activities of discontinued operations 0.4 3.5
Net cash provided by discontinued operations 0.4 3.5
(Decrease) increase in cash, cash equivalents, and restricted cash (416.9) 14.0
Cash, cash equivalents, and restricted cash - beginning of period 1,214.7 763.3
Cash, cash equivalents, and restricted cash - end of period 797.8 777.3
Reconciliation of cash, cash equivalents, and restricted cash:    
Cash and cash equivalents 746.3 777.3
Restricted cash included in prepaid expenses and other current assets 51.5 0.0
Total cash, cash equivalents, and restricted cash shown in the statement of cash flows 797.8 777.3
Cash flows from changes in current assets and liabilities    
Receivables, net (0.9) 3.6
Inventories (39.4) 3.9
Prepaid expenses and other current assets (16.8) 1.3
Accounts payable 36.8 (24.8)
Accrued payroll (16.7) (20.1)
Prepaid/accrued income taxes (2.3) (3.5)
Other accrued taxes 3.4 4.2
Unearned revenues (16.7) (28.1)
Other current liabilities (103.6) 56.6
Change in current assets and liabilities $ (156.2) $ (6.9)