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LONG-TERM DEBT (Tables) | 12 Months Ended
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May 30, 2021
Debt Disclosure [Abstract] |
Schedule of Long-Term Debt Instruments |
|  | May 30, 2021 |  |  | May 31, 2020 |
5.4% senior debt due November 2048 |  | $ | 1,000.0 |  |  | $ | 1,000.0 |
4.65% senior debt due January 2043 |  |  | 176.7 |  |  |  | 176.7 |
6.625% senior debt due August 2039 |  |  | 91.4 |  |  |  | 91.4 |
5.3% senior debt due November 2038 |  |  | 1,000.0 |  |  |  | 1,000.0 |
8.25% senior debt due September 2030 |  |  | 300.0 |  |  |  | 300.0 |
4.85% senior debt due November 2028 |  |  | 1,300.0 |  |  |  | 1,300.0 |
7.0% senior debt due October 2028 |  |  | 382.2 |  |  |  | 382.2 |
1.375% senior debt due November 2027 |  |  | 1,000.0 |  |  |  | — |
6.7% senior debt due August 2027 |  |  | 9.2 |  |  |  | 9.2 |
7.125% senior debt due October 2026 |  |  | 262.5 |  |  |  | 262.5 |
4.6% senior debt due November 2025 |  |  | 1,000.0 |  |  |  | 1,000.0 |
4.3% senior debt due May 2024 |  |  | 1,000.0 |  |  |  | 1,000.0 |
3.2% senior debt due January 2023 |  |  | 437.0 |  |  |  | 837.0 |
3.25% senior debt due September 2022 |  |  | 250.0 |  |  |  | 250.0 |
3.8% senior debt due October 2021 |  |  | — |  |  |  | 1,200.0 |
9.75% subordinated debt due March 2021 |  |  | — |  |  |  | 195.9 |
LIBOR plus 0.50% senior debt due October 2020 |  |  | — |  |  |  | 500.0 |
4.95% senior debt due August 2020 |  |  | — |  |  |  | 126.6 |
0.45% to 9.59% lease financing obligations due on various dates through 2035 |  |  | 139.1 |  |  |  | 155.1 |
Other indebtedness |  |  | 0.1 |  |  |  | 0.1 |
Total face value of debt |  |  | 8,348.2 |  |  |  | 9,786.7 |
Unamortized fair value adjustment |  |  | 19.9 |  |  |  | 21.2 |
Unamortized discounts |  |  | (25.8 | ) |  |  | (17.2 | )
Unamortized debt issuance costs |  |  | (44.0 | ) |  |  | (44.6 | )
Adjustment due to hedging activity |  |  | — |  |  |  | 0.2 |
Less current installments |  |  | (23.1 | ) |  |  | (845.5 | )
Total long-term debt |  | $ | 8,275.2 |  |  | $ | 8,900.8 |
Schedule of Aggregate Minimum Principal Maturities of Long-Term Debt | The aggregate minimum principal maturities of the long-term debt for each of the five fiscal years following May 30, 2021, are as follows:
2022 |  | $ | 23.1 |
2023 |  |  | 706.8 |
2024 |  |  | 1,015.8 |
2025 |  |  | 14.3 |
2026 |  |  | 1,020.8 |
Schedule of Net Interest Expense | Net interest expense consists of:
|  | 2021 |  |  | 2020 |  |  | 2019 |
Long-term debt |  | $ | 430.0 |  |  | $ | 495.9 |  |  | $ | 385.9 |
Short-term debt |  |  | 2.5 |  |  |  | 0.9 |  |  |  | 15.0 |
Interest income |  |  | (1.9 | ) |  |  | (3.1 | ) |  |  | (6.8 | )
Interest capitalized |  |  | (10.2 | ) |  |  | (6.6 | ) |  |  | (2.7 | )
|  | $ | 420.4 |  |  | $ | 487.1 |  |  | $ | 391.4 |

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- Definition Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=119993939&loc=d3e28541-108399 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21506-112644 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(e),(f)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=119993939&loc=d3e28551-108399 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21521-112644 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21538-112644 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 55 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644 + Details
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