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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
May 29, 2022
May 30, 2021
May 31, 2020
Cash flows - operating activities      
Net earnings (loss) $ 952,800,000 $ 629,300,000 $ (52,400,000)
Losses from discontinued operations, net of tax 1,900,000 3,100,000 3,200,000
Adjustments to reconcile net earnings (loss) from continuing operations to cash flows:      
Depreciation and amortization 368,400,000 350,900,000 355,900,000
Goodwill and other impairments and disposal of assets, net (2,000,000.0) 6,600,000 390,200,000
Stock-based compensation expense 60,500,000 72,400,000 53,000,000.0
Change in current assets and liabilities (96,700,000) (25,900,000) (73,300,000)
Contributions to pension and postretirement plans (2,200,000) (1,800,000) (14,400,000)
Deferred income taxes (23,700,000) 169,200,000 (133,600,000)
Change in other assets and liabilities (7,400,000) 23,000,000.0 38,300,000
Pension settlement charge 0 0 145,500,000
Other, net 13,000,000.0 (33,300,000) 5,000,000.0
Net cash provided by operating activities of continuing operations 1,264,600,000 1,193,500,000 717,400,000
Cash flows - investing activities      
Purchases of land, buildings and equipment (376,900,000) (254,900,000) (459,900,000)
Proceeds from disposal of land, buildings and equipment 10,100,000 5,400,000 5,800,000
Cash used in business acquisitions, net of cash acquired 0 0 (55,800,000)
Purchases of capitalized software and other assets (25,600,000) (15,400,000) (24,600,000)
Other, net 3,400,000 1,200,000 (9,500,000)
Net cash used in investing activities of continuing operations (389,000,000.0) (263,700,000) (544,000,000.0)
Cash flows - financing activities      
Net proceeds from issuance of common stock 40,200,000 46,200,000 525,900,000
Dividends paid (563,000,000.0) (202,600,000) (322,300,000)
Repurchases of common stock (1,071,300,000) (45,400,000) (330,300,000)
Proceeds from issuance of short-term debt 0 0 1,020,000,000
Repayments of short-term debt 0 (270,000,000.0) (750,000,000.0)
Principal payments on finance leases (12,900,000) (7,100,000) (5,200,000)
Other, net (2,700,000) 0 600,000
Net cash provided by (used in) financing activities of continuing operations (1,609,700,000) (478,900,000) 138,700,000
Cash flows - discontinued operations      
Net cash provided by (used in) operating activities of discontinued operations (8,500,000) 500,000 (6,100,000)
Net cash provided by (used in) discontinued operations (8,500,000) 500,000 (6,100,000)
(Decrease) increase in cash and cash equivalents (742,600,000) 451,400,000 306,000,000.0
Cash and cash equivalents - beginning of year 1,214,700,000 763,300,000 457,300,000
Cash and cash equivalents - end of year 472,100,000 1,214,700,000 763,300,000
Reconciliation of cash, cash equivalents, and restricted cash:      
Cash and cash equivalents 420,600,000 1,214,700,000 763,300,000
Restricted cash included in prepaid and other current assets 51,500,000 0 0
Total cash, cash equivalents, and restricted cash shown in the statement of cash flows 472,100,000 1,214,700,000 763,300,000
Cash flows from changes in current assets and liabilities      
Receivables, net (3,900,000) (18,400,000) 13,700,000
Inventories (79,800,000) 16,100,000 (13,900,000)
Prepaid expenses and other current assets (22,600,000) 3,100,000 (2,800,000)
Accounts payable 43,200,000 48,900,000 (68,500,000)
Accrued payroll 4,100,000 27,400,000 (25,300,000)
Prepaid/accrued income taxes 58,500,000 (289,100,000) 17,800,000
Other accrued taxes 4,100,000 17,100,000 (10,900,000)
Unearned revenues 23,800,000 6,200,000 39,400,000
Other current liabilities (124,100,000) 162,800,000 (22,800,000)
Change in current assets and liabilities $ (96,700,000) $ (25,900,000) $ (73,300,000)