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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
9 Months Ended
Feb. 27, 2022
Feb. 28, 2021
Cash flows—operating activities    
Net earnings $ 671.1 $ 260.8
Losses from discontinued operations, net of tax 1.9 2.6
Adjustments to reconcile net earnings from continuing operations to cash flows:    
Depreciation and amortization 275.4 261.8
Impairments and disposal of assets, net (5.5) 1.4
Stock-based compensation expense 49.8 60.0
Change in current assets and liabilities (83.0) 128.2
Contributions to pension and postretirement plans (1.7) (1.3)
Deferred income taxes 10.0 (12.3)
Change in other assets and liabilities (6.0) 71.2
Other, net 4.5 (26.4)
Net cash provided by operating activities of continuing operations 916.5 746.0
Cash flows—investing activities    
Purchases of land, buildings and equipment (275.6) (177.3)
Proceeds from disposal of land, buildings and equipment 10.1 5.4
Purchases of capitalized software and other assets (18.3) (10.6)
Other, net 2.9 1.1
Net cash used in investing activities of continuing operations (280.9) (181.4)
Cash flows—financing activities    
Proceeds from issuance of common stock 36.4 34.2
Dividends paid (426.2) (87.3)
Repurchases of common stock (834.1) (7.2)
Repayments of short-term debt 0.0 (270.0)
Principal payments on finance leases (9.0) (5.0)
Payments of debt issuance costs (2.5) (0.2)
Net cash used in financing activities of continuing operations (1,235.4) (335.5)
Cash flows—discontinued operations    
Net cash (used in) provided by operating activities of discontinued operations (8.1) 1.5
Net cash (used in) provided by discontinued operations (8.1) 1.5
(Decrease) increase in cash, cash equivalents, and restricted cash (607.9) 230.6
Cash, cash equivalents, and restricted cash - beginning of period 1,214.7 763.3
Cash, cash equivalents, and restricted cash - end of period 606.8 993.9
Reconciliation of cash, cash equivalents, and restricted cash:    
Cash and cash equivalents 555.3 993.9
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 606.8 993.9
Cash flows from changes in current assets and liabilities    
Receivables, net 15.6 5.8
Inventories (52.9) 18.7
Prepaid expenses and other current assets (19.3) 3.9
Accounts payable 31.7 (17.5)
Accrued payroll 0.1 12.2
Prepaid/accrued income taxes 8.1 3.0
Other accrued taxes (0.8) 3.6
Unearned revenues 63.1 25.8
Other current liabilities (128.6) 72.7
Change in current assets and liabilities $ (83.0) $ 128.2