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Subsequent Events (Tables) | 9 Months Ended
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Feb. 28, 2017
Subsequent Events [Abstract] |
Summary of G&K Acquisition Debt Incurred | The following table summarizes the new debt and the debt acquired:
|  | Amount (in millions) |  | Issue Date |  | Maturity |  | Interest Rate |
Senior notes |  | $ | 650.0 |  |  | March 9, 2017 |  | April 1, 2022 |  | 2.90 | % |
Senior notes |  | 50.0 |  |  | March 9, 2017 |  | June 1, 2022 |  | 3.25 | % |
Senior notes |  | 1,000.0 |  |  | March 9, 2017 |  | April 1, 2027 |  | 3.70 | % |
Term loan |  | 250.0 |  |  | March 21, 2017 |  | September 15, 2021 |  | 1.91 | % | *
Commercial paper |  | 159.0 |  |  | Various |  | Various |  | 1.25 | % |
Total debt issued |  | 2,109.0 |  |  |  |  |  |  |  |
Debt issuance costs |  | (10.7 | ) |  |  |  |  |  |  |
Net proceeds from new debt |  | $ | 2,098.3 |  |  |  |  |  |  |  |
G&K senior notes |  | $ | 50.0 |  |  |  |  | April 15, 2023 |  | 3.73 | % |
G&K senior notes |  | 50.0 |  |  |  |  | April 15, 2025 |  | 3.88 | % |
Total debt acquired |  | $ | 100.0 |  |  |  |  |  |  |  |
* The term loan is a variable rate debt instrument. The rate presented is the variable borrowing rate on the date the term loan was funded.

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- Definition Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=65885119&loc=d3e1486-128463 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=65885119&loc=d3e1392-128463 + Details
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