Stockholders' Equity

9 Months Ended

Feb. 25, 2024

Stockholders' Equity Note [Abstract]

Stockholders' Equity

Stockholders’ Equity

Accumulated Other Comprehensive Income (Loss) (AOCI)

The components of AOCI, net of tax, for the quarter and nine months ended February 25, 2024 were 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 26, 2023	$	4.5	$	27.8	$	(4.9)	$	27.4
Gain (loss)	0.1		0.8		—		0.9
Reclassification realized in net earnings	—		1.2		0.2		1.4
Balance at February 25, 2024	$	4.6	$	29.8	$	(4.7)	$	29.7
Balance at May 28, 2023	$	4.5	$	3.9	$	(5.2)	$	3.2
Gain (loss)	0.1		24.0		—		24.1
Reclassification realized in net earnings	—		1.9		0.5		2.4
Balance at February 25, 2024	$	4.6	$	29.8	$	(4.7)	$	29.7

The components of AOCI, net of tax, for the quarter and nine months ended February 26, 2023 were 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 27, 2022	$	4.6	$	7.4	$	(6.0)	$	6.0
Gain (loss)	(0.1)		(7.8)		—		(7.9)
Reclassification realized in net earnings	—		1.9		0.1		2.0
Balance at February 26, 2023	$	4.5	$	1.5	$	(5.9)	$	0.1
Balances at May 29, 2022	$	4.8	$	(0.4)	$	(6.3)	$	(1.9)
Gain (loss)	(0.3)		(0.2)		—		(0.5)
Reclassification realized in net earnings	—		2.1		0.4		2.5
Balance at February 26, 2023	$	4.5	$	1.5	$	(5.9)	$	0.1

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 25, 2024		February 26, 2023		February 25, 2024		February 26, 2023
Derivatives
Commodity contracts	(1)	$	(2.5)	$	(2.3)	$	(5.6)	$	(1.5)
Equity contracts	(2)	—		—		1.3		(0.8)
Interest rate contracts	(3)	0.9		—		1.3		(0.1)
Total before tax		$	(1.6)	$	(2.3)	$	(3.0)	$	(2.4)
Tax benefit		0.4		0.4		1.1		0.3
Net of tax		$	(1.2)	$	(1.9)	$	(1.9)	$	(2.1)
Benefit plan funding position
Recognized net actuarial loss - pension/postretirement plans	(4)	$	—	$	—	$	(0.1)	$	(0.1)
Recognized net actuarial gain (loss) - other plans	(4)	(0.2)		(0.2)		(0.5)		(0.5)
Total before tax		$	(0.2)	$	(0.2)	$	(0.6)	$	(0.6)
Tax benefit		—		0.1		0.1		0.2
Net of tax		$	(0.2)	$	(0.1)	$	(0.5)	$	(0.4)

(1)Primarily included in food and beverage costs and restaurant expenses. See Note 11 for additional details.

(2)Included in general and administrative expenses. See Note 11 for additional details.

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

(4)Included in the computation of net periodic benefit costs, which is a component of general and administrative expenses.