XML 47 R32.htm IDEA: XBRL DOCUMENT
v3.10.0.1

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 12 Months Ended
--- | ---
May 27, 2018
Accounting Policies [Abstract] |
Balances of Allowance for Doubtful Accounts and Changes Therein | The following table details the balances of our allowance for doubtful accounts and changes therein:
|  | Balance at Beginning of Period |  | Additions Charged to Costs and Expenses |  | Other |  | Deductions from Reserves |  | Balance at Close of Period
Year ended May 27, 2018 |  | $ | 3.1 |  |  | 0.8 |  |  | — |  |  | 1.9 |  | (2) | $ | 2.0 |
Year ended May 28, 2017 |  | $ | 3.2 |  |  | 1.0 |  |  | — |  |  | 1.1 |  | (2) | $ | 3.1 |
Year ended May 29, 2016 |  | $ | 3.0 |  |  | 1.1 |  |  | (0.1 | ) | (1) | 0.8 |  | (2) | $ | 3.2 |
(1) | Primarily translation incurred during fiscal 2016.
(2) | Bad debts charged off and adjustments to previous reserves, less recoveries.
Schedule of Estimated Useful Lives of Property, Plant and Equipment | Depreciation has been calculated using the straight-line method over the estimated useful lives of the respective classes of assets as follows:
Land improvements |  | 1 - 40 years
Buildings |  | 15 - 40 years
Machinery and equipment |  | 3 - 20 years
Furniture, fixtures, office equipment and other |  | 5 - 15 years
Schedule of Accumulated Balances for Each Component of Other Comprehensive Income (Loss), Net of Tax | The following table details the accumulated balances for each component of other comprehensive income (loss), net of tax:
| 2018 |  | 2017 |  | 2016
Currency translation losses, net of reclassification adjustments | $ | (94.7 | ) |  | $ | (98.6 | ) |  | $ | (95.2 | )
Derivative adjustments, net of reclassification adjustments | 1.0 |  |  | (1.1 | ) |  | (0.4 | )
Unrealized gains (losses) on available-for-sale securities | 0.6 |  |  | (0.3 | ) |  | (0.6 | )
Pension and post-employment benefit obligations, net of reclassification adjustments | (17.4 | ) |  | (112.9 | ) |  | (248.3 | )
Accumulated other comprehensive loss 1 | $ | (110.5 | ) |  | $ | (212.9 | ) |  | $ | (344.5 | )
1 Net of stranded tax effects from change in tax rate as a result of the early adoption of ASU 2018-02 in the amount of $17.4 million which has been reclassified to retained earnings.
Summary of Reclassifications from Accumulated Other Comprehensive Loss into Income (Loss) | The following table summarizes the reclassifications from accumulated other comprehensive loss into income (loss):
|  |  |  |  |  |  | Affected Line Item in the Consolidated Statement of Operations 1
| 2018 |  | 2017 |  | 2016 |  |
Net derivative adjustment, net of tax: |  |  |  |  |  |  |
Cash flow hedges | $ | 0.1 |  |  | $ | (0.2 | ) |  | $ | (2.1 | ) |  | Interest expense, net
| 0.1 |  |  | (0.2 | ) |  | (2.1 | ) |  | Total before tax
| — |  |  | 0.1 |  |  | 0.8 |  |  | Income tax expense
| $ | 0.1 |  |  | $ | (0.1 | ) |  | $ | (1.3 | ) |  | Net of tax
Amortization of pension and postretirement healthcare liabilities: |  |  |  |  |  |  |
Net prior service benefit | $ | (0.4 | ) |  | $ | (3.9 | ) |  | $ | (5.1 | ) |  | Selling, general and administrative expenses
Divestiture of Private Brands | — |  |  | — |  |  | (4.3 | ) |  | Income (loss) from discontinued operations, net of tax
Pension settlement of equity method investee | — |  |  | — |  |  | (5.2 | ) |  | Equity method investment earnings
Pension settlement | 1.3 |  |  | 13.8 |  |  | — |  |  | Selling, general and administrative expenses
Net actuarial loss | — |  |  | 0.5 |  |  | 0.1 |  |  | Selling, general and administrative expenses
| 0.9 |  |  | 10.4 |  |  | (14.5 | ) |  | Total before tax
| (0.2 | ) |  | (4.0 | ) |  | 4.9 |  |  | Income tax expense
| $ | 0.7 |  |  | $ | 6.4 |  |  | $ | (9.6 | ) |  | Net of tax
Currency translation losses | $ | — |  |  | $ | — |  |  | $ | 73.4 |  |  | Income (loss) from discontinued operations, net of tax
| — |  |  | — |  |  | 73.4 |  |  | Total before tax
| — |  |  | — |  |  | — |  |  | Income tax expense
| $ | — |  |  | $ | — |  |  | $ | 73.4 |  |  | Net of tax
1 Amounts in parentheses indicate income recognized in the Consolidated Statements of Operations.

X
- References No definition available. + Details
Name: | us-gaap_AccountingPoliciesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of financing receivables (examples of financing receivables include loans, trade accounts receivable and notes receivable) and activity in the allowance for credit losses account. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 11B -URI http://asc.fasb.org/extlink&oid=84173941&loc=SL6953423-111524 + Details
Name: | us-gaap_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(13)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
Name: | us-gaap_PropertyPlantAndEquipmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information about items reclassified out of accumulated other comprehensive income (loss). + References No definition available. + Details
Name: | us-gaap_ReclassificationOutOfAccumulatedOtherComprehensiveIncomeTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of accumulated other comprehensive income (loss). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 14A -URI http://asc.fasb.org/extlink&oid=84228862&loc=SL7669686-108580 + Details
Name: | us-gaap_ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration