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DERIVATIVE FINANCIAL INSTRUMENTS (Tables) | 12 Months Ended
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May 29, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Derivative assets and liabilities and amounts representing right to reclaim cash collateral were reflected in balance sheets | Derivative assets and liabilities and amounts representing a right to reclaim cash collateral or obligation to return cash collateral were reflected in our Consolidated Balance Sheets as follows:
| May 29, 2016 |  | May 31, 2015
Prepaid expenses and other current assets | $ | 26.1 |  |  | $ | 32.2 |
Other accrued liabilities | 0.7 |  |  | 14.2 |
Schedule of derivative instruments in statement of financial position, gross, fair value | The following table presents our derivative assets and liabilities, at May 29, 2016, on a gross basis, prior to the setoff of $1.8 million to total derivative assets and $2.1 million to total derivative liabilities where legal right of setoff existed:
| Derivative Assets |  | Derivative Liabilities
| Balance Sheet Location |  | Fair Value |  | Balance Sheet Location |  | Fair Value
Commodity contracts | Prepaid expenses and other current assets |  | $ | 6.5 |  |  | Other accrued liabilities |  | $ | 2.3 |
Foreign exchange contracts | Prepaid expenses and other current assets |  | 21.4 |  |  | Other accrued liabilities |  | 0.2 |
Other | Prepaid expenses and other current assets |  | — |  |  | Other accrued liabilities |  | 0.3 |
Total derivatives not designated as hedging instruments |  |  | $ | 27.9 |  |  |  |  | $ | 2.8 |
Total derivatives |  |  | $ | 27.9 |  |  |  |  | $ | 2.8 |
The following table presents our derivative assets and liabilities, at May 31, 2015, on a gross basis, prior to the setoff of $7.3 million to total derivative assets and $13.2 million to total derivative liabilities where legal right of setoff existed:
| Derivative Assets |  | Derivative Liabilities
| Balance Sheet Location |  | Fair Value |  | Balance Sheet Location |  | Fair Value
Commodity contracts | Prepaid expenses and other current assets |  | $ | 20.8 |  |  | Other accrued liabilities |  | $ | 26.9 |
Foreign exchange contracts | Prepaid expenses and other current assets |  | 17.7 |  |  | Other accrued liabilities |  | 0.4 |
Other | Prepaid expenses and other current assets |  | 1.0 |  |  | Other accrued liabilities |  | 0.1 |
Total derivatives not designated as hedging instruments |  |  | $ | 39.5 |  |  |  |  | $ | 27.4 |
Total derivatives |  |  | $ | 39.5 |  |  |  |  | $ | 27.4 |
Location and amount of gains (losses) from derivatives not designated as hedging instruments in condensed consolidated statements of earnings | The location and amount of gains (losses) from derivatives not designated as hedging instruments in our Consolidated Statements of Operations were as follows:
|  | For the Fiscal Year Ended May 29, 2016
Derivatives Not Designated as Hedging Instruments |  | Location in Consolidated Statement of Operations of Gain (Loss) Recognized on Derivatives |  | Amount of Gain (Loss) Recognized on Derivatives in Consolidated Statement of Operations
Commodity contracts |  | Cost of goods sold |  | $ | (13.4 | )
Foreign exchange contracts |  | Cost of goods sold |  | 1.5 |
Foreign exchange contracts |  | Selling, general and administrative expense |  | 2.9 |
Total loss from derivative instruments not designated as hedging instruments |  |  |  | $ | (9.0 | )
|  | For the Fiscal Year Ended May 31, 2015
Derivatives Not Designated as Hedging Instruments |  | Location in Consolidated Statement of Operations of Gain (Loss) Recognized on Derivatives |  | Amount of Gain (Loss) Recognized on Derivatives in Consolidated Statement of Operations
Commodity contracts |  | Cost of goods sold |  | $ | (80.5 | )
Foreign exchange contracts |  | Cost of goods sold |  | 1.3 |
Foreign exchange contracts |  | Selling, general and administrative expense |  | 10.3 |
Interest rate contracts |  | Selling, general and administrative expense |  | (1.4 | )
Total loss from derivative instruments not designated as hedging instruments |  |  |  | $ | (70.3 | )
|  | For the Fiscal Year Ended May 25, 2014
Derivatives Not Designated as Hedging Instruments |  | Location in Consolidated Statement of Operations of Gain (Loss) Recognized on Derivatives |  | Amount of Gain (Loss) Recognized on Derivatives in Consolidated Statement of Operations
Commodity contracts |  | Cost of goods sold |  | $ | 18.9 |
Foreign exchange contracts |  | Cost of goods sold |  | 1.9 |
Commodity contracts |  | Selling, general and administrative expense |  | 7.9 |
Foreign exchange contracts |  | Selling, general and administrative expense |  | (54.9 | )
Total loss from derivative instruments not designated as hedging instruments |  |  |  | $ | (26.2 | )

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- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5624171-113959 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5618551-113959 + Details
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- Definition Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5624163-113959 + Details
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