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PRE-TAX INCOME AND INCOME TAXES (Tables) | 12 Months Ended
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May 29, 2016
Income Tax Disclosure [Abstract] |
Pre-tax income from continuing operations (including equity method investment earnings) | Pre-tax income from continuing operations (including equity method investment earnings) consisted of the following:
| 2016 |  | 2015 |  | 2014
United States | $ | 629.1 |  |  | $ | 1,015.7 |  |  | $ | 704.4 |
Canada | 20.3 |  |  | 36.6 |  |  | 42.9 |
Foreign - other | 72.0 |  |  | 70.1 |  |  | 56.2 |
| $ | 721.4 |  |  | $ | 1,122.4 |  |  | $ | 803.5 |
Provision for income taxes from continuing operations | The provision for income taxes included the following:
| 2016 |  | 2015 |  | 2014
Current |  |  |  |  |
Federal | $ | 338.2 |  |  | $ | 284.6 |  |  | $ | 280.0 |
State | 39.4 |  |  | 26.4 |  |  | 26.0 |
Canada | 5.3 |  |  | 5.7 |  |  | 10.2 |
Foreign - other | 15.2 |  |  | 23.4 |  |  | 10.9 |
| 398.1 |  |  | 340.1 |  |  | 327.1 |
Deferred |  |  |  |  |
Federal | (139.7 | ) |  | 22.7 |  |  | (67.4 | )
State | (38.1 | ) |  | 6.1 |  |  | (67.0 | )
Canada | (0.8 | ) |  | 1.1 |  |  | 1.0 |
Foreign - other | 5.9 |  |  | (7.9 | ) |  | (15.4 | )
| (172.7 | ) |  | 22.0 |  |  | (148.8 | )
| $ | 225.4 |  |  | $ | 362.1 |  |  | $ | 178.3 |
Income tax reconciliation | Income taxes computed by applying the U.S. Federal statutory rates to income from continuing operations before income taxes are reconciled to the provision for income taxes set forth in the Consolidated Statements of Operations as follows:
| 2016 |  | 2015 |  | 2014
Computed U.S. Federal income taxes | $ | 252.5 |  |  | $ | 392.8 |  |  | $ | 281.2 |
State income taxes, net of U.S. Federal tax impact | 1.2 |  |  | 22.1 |  |  | 10.9 |
Tax credits and domestic manufacturing deduction | (29.3 | ) |  | (31.4 | ) |  | (27.9 | )
Audit adjustments and settlements | (2.3 | ) |  | — |  |  | (15.3 | )
Effect of taxes booked on foreign operations | (6.4 | ) |  | (11.7 | ) |  | (19.7 | )
Statute lapses on previously reserved items | (3.0 | ) |  | (5.2 | ) |  | (5.1 | )
Goodwill and intangible impairments | — |  |  | 6.6 |  |  | 4.1 |
Change in legal structure and other state elections | — |  |  | — |  |  | (23.5 | )
Change in estimate related to tax methods used for certain international sales, federal credits, and state credits | 6.0 |  |  | (2.4 | ) |  | (20.9 | )
Other | 6.7 |  |  | (8.7 | ) |  | (5.5 | )
| $ | 225.4 |  |  | $ | 362.1 |  |  | $ | 178.3 |
Tax effect of temporary differences and carryforwards | The tax effect of temporary differences and carryforwards that give rise to significant portions of deferred tax assets and liabilities consisted of the following:
| May 29, 2016 |  | May 31, 2015
| Assets |  | Liabilities |  | Assets |  | Liabilities
Property, plant and equipment | $ | — |  |  | $ | 411.6 |  |  | $ | — |  |  | $ | 392.1 |
Goodwill, trademarks and other intangible assets | — |  |  | 698.8 |  |  | — |  |  | 699.0 |
Accrued expenses | 20.4 |  |  | — |  |  | 20.7 |  |  | — |
Compensation related liabilities | 88.7 |  |  | — |  |  | 78.1 |  |  | — |
Pension and other postretirement benefits | 437.6 |  |  | — |  |  | 290.9 |  |  | — |
Investment in unconsolidated subsidiaries | — |  |  | 256.8 |  |  | — |  |  | 211.6 |
Other liabilities that will give rise to future tax deductions | 147.5 |  |  | — |  |  | 109.0 |  |  | — |
Net capital and operating loss carryforwards | 1,595.7 |  |  | — |  |  | 34.1 |  |  | — |
Other | 78.3 |  |  | 10.0 |  |  | 71.0 |  |  | 63.1 |
| 2,368.2 |  |  | 1,377.2 |  |  | 603.8 |  |  | 1,365.8 |
Less: Valuation allowance | (1,448.0 | ) |  | — |  |  | (38.0 | ) |  | — |
Net deferred taxes | $ | 920.2 |  |  | $ | 1,377.2 |  |  | $ | 565.8 |  |  | $ | 1,365.8 |
Change in the unrecognized tax benefits | The change in the unrecognized tax benefits for the year ended May 29, 2016 was:
Beginning balance on May 31, 2015 | $ | 35.3 |
Increases from positions established during prior periods | 1.9 |
Decreases from positions established during prior periods | (2.3 | )
Increases from positions established during the current period | 11.4 |
Decreases relating to settlements with taxing authorities | (4.0 | )
Reductions resulting from lapse of applicable statute of limitation | (3.5 | )
Other adjustments to liability | (0.4 | )
Ending balance on May 29, 2016 | $ | 38.4 |

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