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DIVESTITURES AND ASSETS HELD FOR SALE | 3 Months Ended
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Aug. 29, 2021
Discontinued Operations And Disposal Groups [Abstract] |
DIVESTITURES AND ASSETS HELD FOR SALE | 2. DIVESTITURES AND ASSETS HELD FOR SALE Divestitures During the fourth quarter of fiscal 2021, we completed the sale of our Egg Beaters® business for net proceeds of $50.6 million, subject to final working capital adjustments. The business results were previously reported primarily within our Refrigerated & Frozen segment, and to a lesser extent within our International and Foodservice segments. During the third quarter of fiscal 2021, we completed the sale of our Peter Pan® peanut butter business for net proceeds of $101.5 million, including working capital adjustments but subject to final adjustments for certain tax benefits. The business results were previously reported primarily within our Grocery & Snacks segment, and to a lesser extent within our International and Foodservice segments. During the second quarter of fiscal 2021, we completed the sale of our H.K. Anderson® business for net proceeds of $8.7 million, including working capital adjustments. The business results were previously reported primarily within our Grocery & Snacks segment, and to a lesser extent within our Foodservice segment. Other Assets Held for Sale From time to time, we actively market certain other assets. Balances totaling $4.6 million at both August 29, 2021 and May 30, 2021 have been reclassified as noncurrent assets held for sale within our Condensed Consolidated Balance Sheets.

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- Definition The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=2122178 + Details
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