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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended
Aug. 25, 2024
Aug. 27, 2023
Cash flows—operating activities    
Net earnings $ 207.2 $ 194.5
Losses from discontinued operations, net of tax 0.4 0.3
Adjustments to reconcile net earnings from continuing operations to cash flows:    
Depreciation and amortization 121.5 109.8
Impairments and disposal of assets, net 1.0 3.1
Stock-based compensation expense 34.7 30.3
Change in current assets and liabilities (77.8) (59.5)
Contributions to pension and postretirement plans (0.4) (0.4)
Deferred income taxes 5.0 4.2
Change in other assets and liabilities (11.0) (10.4)
Other, net (7.4) (2.8)
Net cash provided by operating activities of continuing operations 273.2 269.1
Cash flows—investing activities    
Purchases of land, buildings and equipment (145.2) (150.9)
Proceeds from disposal of land, buildings and equipment 0.0 1.6
Cash used in business acquisitions, net of cash acquired 0.0 (699.9)
Purchases of capitalized software and other assets (6.3) (5.2)
Other, net 1.8 0.2
Net cash used in investing activities of continuing operations (149.7) (854.2)
Cash flows—financing activities    
Proceeds from issuance of common stock 9.7 22.3
Dividends paid (166.0) (158.5)
Repurchases of common stock (172.4) (142.9)
Proceeds from the issuance of commercial paper, net 207.1 95.4
Proceeds from issuance of long-term debt 0.0 600.0
Principal payments on finance leases (5.1) (5.5)
Payments of debt issuance costs 0.0 (1.4)
Net cash (used in) provided by financing activities of continuing operations (126.7) 409.4
Cash flows—discontinued operations    
Net cash provided by operating activities of discontinued operations 0.0 0.0
Net cash provided by discontinued operations 0.0 0.0
Decrease in cash, cash equivalents, and restricted cash (3.2) (175.7)
Cash, cash equivalents, and restricted cash - beginning of period 220.1 416.2
Cash, cash equivalents, and restricted cash - end of period 216.9 240.5
Reconciliation of cash, cash equivalents, and restricted cash:    
Cash and cash equivalents 192.5 192.1
Restricted cash included in prepaid expenses and other current assets 24.4 48.4
Total cash, cash equivalents, and restricted cash shown in the statement of cash flows 216.9 240.5
Cash flows from changes in current assets and liabilities    
Receivables, net 15.3 29.5
Inventories (7.7) 9.4
Prepaid expenses and other current assets (26.2) (40.1)
Accounts payable 8.0 (16.0)
Accrued payroll (29.1) (13.7)
Prepaid/accrued income taxes 13.7 20.8
Other accrued taxes 10.5 7.8
Unearned revenues (37.1) (32.1)
Other current liabilities (25.2) (25.1)
Change in current assets and liabilities $ (77.8) $ (59.5)