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DISCONTINUED OPERATIONS, OTHER ASSETS HELD FOR SALE, AND THE FORMATION OF ARDENT MILLS (Tables) | 9 Months Ended
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Feb. 22, 2015
Discontinued Operations and Disposal Groups [Abstract] |
Schedule of disposal groups, including discontinued operations, income statement, balance sheet and additional disclosures | The summary comparative financial results of discontinued operations were as follows:
| Thirteen weeks ended |  | Thirty-nine weeks ended
| February 22, 2015 |  | February 23, 2014 |  | February 22, 2015 |  | February 23, 2014
Net sales | $ | — |  |  | $ | 459.2 |  |  | $ | 16.2 |  |  | $ | 1,443.6 |
Net gain on sale of businesses | $ | — |  |  | $ | — |  |  | $ | 627.3 |  |  | $ | 32.1 |
Long-lived asset impairment charge | — |  |  | (25.4 | ) |  | — |  |  | (25.4 | )
Income (loss) from operations of discontinued operations before income taxes and equity method investment earnings | 0.3 |  |  | 38.6 |  |  | (10.1 | ) |  | 94.0 |
Income before income taxes | 0.3 |  |  | 13.2 |  |  | 617.2 |  |  | 100.7 |
Income tax expense | 0.9 |  |  | 2.5 |  |  | 255.2 |  |  | 34.3 |
Equity method investment earnings | — |  |  | 0.1 |  |  | — |  |  | 0.2 |
Income (loss) from discontinued operations, net of tax | $ | (0.6 | ) |  | $ | 10.8 |  |  | $ | 362.0 |  |  | $ | 66.6 |
Assets and liabilities classified as held for sale | The assets and liabilities classified as held for sale reflected in our Condensed Consolidated Balance Sheets were as follows:
|  | May 25, 2014
Cash and cash equivalents |  | $ | 41.8 |
Receivables, less allowance for doubtful accounts of $1.2 |  | 172.4 |
Receivable on sale of flour milling assets |  | 162.4 |
Inventories |  | 215.6 |
Prepaid expenses and other current assets |  | 39.5 |
Current assets held for sale |  | $ | 631.7 |
Property, plant and equipment, net |  | $ | 186.8 |
Goodwill |  | 8.0 |
Brands, trademarks and other intangibles, net |  | 0.9 |
Other assets |  | 3.2 |
Noncurrent assets held for sale |  | $ | 198.9 |
Current installments of long-term debt |  | $ | 0.1 |
Accounts payable |  | 143.1 |
Accrued payroll |  | 2.3 |
Other accrued liabilities |  | 19.3 |
Current liabilities held for sale |  | $ | 164.8 |
Senior long-term debt, excluding current installments |  | $ | 0.1 |
Other noncurrent liabilities |  | 1.9 |
Noncurrent liabilities held for sale |  | $ | 2.0 |

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- Definition Tabular disclosure of long lived assets held for sale. Disclosure may include the description of the facts and circumstances leading to the expected disposal, manner and timing of disposal, the carrying value of the assets held for sale, the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6391110&loc=d3e2941-110230 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1361-107760 + Details
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- Definition Tabular disclosure of disposal groups, which may include the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the classification and carrying value of the assets and liabilities comprising the disposal group, and the segment in which the disposal group was reported. Also may include the amount of adjustments to amounts previously reported in discontinued operations such as resolution of contingencies arising from the disposal transaction or the operations of the component prior to disposal. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1361-107760 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e957-107759 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1510-107760 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1474-107760 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 45 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=8077374&loc=d3e2443-110228 + Details
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