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PRE-TAX INCOME AND INCOME TAXES (Tables) | 12 Months Ended
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May 27, 2018
Income Tax Disclosure [Abstract] |
Schedule of Pre-Tax Income from Continuing Operations | Pre-tax income from continuing operations (including equity method investment earnings) consisted of the following:
| 2018 |  | 2017 |  | 2016
United States | $ | 902.5 |  |  | $ | 883.5 |  |  | $ | 136.9 |
Foreign | 69.6 |  |  | (82.8 | ) |  | 38.0 |
| $ | 972.1 |  |  | $ | 800.7 |  |  | $ | 174.9 |
Schedule of the Provision for Income Taxes | The provision for income taxes included the following:
| 2018 |  | 2017 |  | 2016
Current |  |  |  |  |
Federal | $ | 153.1 |  |  | $ | 201.5 |  |  | $ | 206.5 |
State | 17.8 |  |  | 6.7 |  |  | 31.0 |
Foreign | 32.5 |  |  | 6.5 |  |  | 8.6 |
| 203.4 |  |  | 214.7 |  |  | 246.1 |
Deferred |  |  |  |  |
Federal | (43.7 | ) |  | 62.1 |  |  | (161.5 | )
State | 17.4 |  |  | (5.3 | ) |  | (38.9 | )
Foreign | (2.5 | ) |  | (16.8 | ) |  | 0.7 |
| (28.8 | ) |  | 40.0 |  |  | (199.7 | )
| $ | 174.6 |  |  | $ | 254.7 |  |  | $ | 46.4 |
Reconciliation of Income Taxes to the Provision for Income Taxes | 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:
| 2018 |  | 2017 |  | 2016
Computed U.S. Federal income taxes | $ | 285.3 |  |  | $ | 280.2 |  |  | $ | 61.2 |
State income taxes, net of U.S. Federal tax impact | 18.0 |  |  | 22.4 |  |  | (6.4 | )
Remeasurement of U.S. deferred taxes | (241.6 | ) |  | — |  |  | — |
Transition tax on foreign earnings | 19.8 |  |  | — |  |  | — |
Tax credits and domestic manufacturing deduction | (20.6 | ) |  | (19.8 | ) |  | (16.5 | )
Federal rate differential on legal reserve | 12.6 |  |  | — |  |  | — |
Goodwill and intangible impairments | — |  |  | 104.7 |  |  | — |
Stock compensation | (5.7 | ) |  | (18.8 | ) |  | — |
Change of valuation allowance on capital loss carryforward | 78.6 |  |  | (84.1 | ) |  | — |
Change in estimate related to tax methods used for certain international sales, federal credits, and state credits | — |  |  | (8.0 | ) |  | 6.0 |
Other | 28.2 |  |  | (21.9 | ) |  | 2.1 |
| $ | 174.6 |  |  | $ | 254.7 |  |  | $ | 46.4 |
Schedule of the 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 27, 2018 |  | May 28, 2017
| Assets |  | Liabilities |  | Assets |  | Liabilities
Property, plant and equipment | $ | — |  |  | $ | 141.0 |  |  | $ | — |  |  | $ | 216.6 |
Goodwill, trademarks and other intangible assets | — |  |  | 406.2 |  |  | — |  |  | 623.4 |
Accrued expenses | 15.5 |  |  | — |  |  | 20.2 |  |  | — |
Compensation related liabilities | 34.1 |  |  | — |  |  | 63.9 |  |  | — |
Pension and other postretirement benefits | 45.8 |  |  | — |  |  | 275.2 |  |  | — |
Investment in unconsolidated subsidiaries | — |  |  | 165.8 |  |  | — |  |  | 237.8 |
Other liabilities that will give rise to future tax deductions | 109.7 |  |  | — |  |  | 117.9 |  |  | — |
Net capital and operating loss carryforwards | 762.5 |  |  | — |  |  | 1,112.5 |  |  | — |
Other | 26.3 |  |  | 6.1 |  |  | 60.0 |  |  | 6.3 |
| 993.9 |  |  | 719.1 |  |  | 1,649.7 |  |  | 1,084.1 |
Less: Valuation allowance | (739.6 | ) |  | — |  |  | (1,013.4 | ) |  | — |
Net deferred taxes | $ | 254.3 |  |  | $ | 719.1 |  |  | $ | 636.3 |  |  | $ | 1,084.1 |
Schedule of Change in Unrecognized Tax Benefits | The change in the unrecognized tax benefits for the year ended May 27, 2018 was:
Beginning balance on May 28, 2017 | $ | 39.3 |
Increases from positions established during prior periods | 14.5 |
Decreases from positions established during prior periods | (11.5 | )
Increases from positions established during the current period | 3.5 |
Decreases relating to settlements with taxing authorities | (10.3 | )
Reductions resulting from lapse of applicable statute of limitation | (2.9 | )
Other adjustments to liability | (0.1 | )
Ending balance on May 27, 2018 | $ | 32.5 |

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- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319 + Details
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