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Note 2 - Restructuring Activities (Tables) | 12 Months Ended
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May 28, 2023
Notes Tables |
Restructuring and Related Costs [Table Text Block] |
|  | Grocery & Snacks |  |  | Refrigerated & Frozen |  |  | International |  |  | Foodservice |  |  | Corporate |  |  | Total |
Accelerated depreciation |  | $ | 33.2 |  |  | $ | 40.5 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 73.7 |
Other cost of goods sold |  |  | 8.7 |  |  |  | 2.8 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 11.5 |
Total cost of goods sold |  |  | 41.9 |  |  |  | 43.3 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 85.2 |
Severance and related costs |  |  | 11.5 |  |  |  | 1.2 |  |  |  | 1.3 |  |  |  | 0.3 |  |  |  | 6.3 |  |  |  | 20.6 |
Asset impairment (net of gains on disposal) |  |  | 21.9 |  |  |  | 0.9 |  |  |  | 0.1 |  |  |  | — |  |  |  | — |  |  |  | 22.9 |
Contract/lease termination |  |  | 0.5 |  |  |  | 0.1 |  |  |  | — |  |  |  | — |  |  |  | 0.1 |  |  |  | 0.7 |
Consulting/professional fees |  |  | 0.6 |  |  |  | 2.4 |  |  |  | — |  |  |  | — |  |  |  | 5.7 |  |  |  | 8.7 |
Other selling, general and administrative expenses |  |  | 12.9 |  |  |  | 4.1 |  |  |  | — |  |  |  | — |  |  |  | 0.6 |  |  |  | 17.6 |
Total selling, general and administrative expenses |  |  | 47.4 |  |  |  | 8.7 |  |  |  | 1.4 |  |  |  | 0.3 |  |  |  | 12.7 |  |  |  | 70.5 |
Total |  | $ | 89.3 |  |  | $ | 52.0 |  |  | $ | 1.4 |  |  | $ | 0.3 |  |  | $ | 12.7 |  |  | $ | 155.7 |
Pension and postretirement non-service income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 0.6 |
Consolidated total |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 156.3 |
|  | Grocery & Snacks |  |  | Refrigerated & Frozen |  |  | Corporate |  |  | Total |
Accelerated depreciation |  | $ | — |  |  | $ | 0.7 |  |  | $ | — |  |  | $ | 0.7 |
Other cost of goods sold |  |  | — |  |  |  | 0.5 |  |  |  | — |  |  |  | 0.5 |
Total cost of goods sold |  |  | — |  |  |  | 1.2 |  |  |  | — |  |  |  | 1.2 |
Severance and related costs |  |  | (0.2 | ) |  |  | — |  |  |  | 1.9 |  |  |  | 1.7 |
Asset impairment (net of gains on disposal) |  |  | — |  |  |  | 0.1 |  |  |  | — |  |  |  | 0.1 |
Contract/lease termination |  |  | 0.1 |  |  |  | 0.1 |  |  |  | — |  |  |  | 0.2 |
Consulting/professional fees |  |  | 0.3 |  |  |  | 0.4 |  |  |  | 3.5 |  |  |  | 4.2 |
Other selling, general and administrative expenses |  |  | 0.3 |  |  |  | 2.8 |  |  |  | 0.2 |  |  |  | 3.3 |
Total selling, general and administrative expenses |  |  | 0.5 |  |  |  | 3.4 |  |  |  | 5.6 |  |  |  | 9.5 |
Total |  | $ | 0.5 |  |  | $ | 4.6 |  |  | $ | 5.6 |  |  | $ | 10.7 |
|  | Grocery & Snacks |  |  | Refrigerated & Frozen |  |  | International |  |  | Foodservice |  |  | Corporate |  |  | Total |
Accelerated depreciation |  | $ | 33.2 |  |  | $ | 40.3 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 73.5 |
Other cost of goods sold |  |  | 8.7 |  |  |  | 2.8 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 11.5 |
Total cost of goods sold |  |  | 41.9 |  |  |  | 43.1 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 85.0 |
Severance and related costs |  |  | 11.4 |  |  |  | 1.2 |  |  |  | 1.3 |  |  |  | 0.3 |  |  |  | 6.3 |  |  |  | 20.5 |
Asset impairment (net of gains on disposal) |  |  | 21.9 |  |  |  | 0.9 |  |  |  | 0.1 |  |  |  | — |  |  |  | — |  |  |  | 22.9 |
Contract/lease termination |  |  | 0.5 |  |  |  | 0.1 |  |  |  | — |  |  |  | — |  |  |  | 0.1 |  |  |  | 0.7 |
Consulting/professional fees |  |  | 0.3 |  |  |  | 0.4 |  |  |  | — |  |  |  | — |  |  |  | 5.2 |  |  |  | 5.9 |
Other selling, general and administrative expenses |  |  | 12.9 |  |  |  | 3.9 |  |  |  | — |  |  |  | — |  |  |  | 0.5 |  |  |  | 17.3 |
Total selling, general and administrative expenses |  |  | 47.0 |  |  |  | 6.5 |  |  |  | 1.4 |  |  |  | 0.3 |  |  |  | 12.1 |  |  |  | 67.3 |
Total |  | $ | 88.9 |  |  | $ | 49.6 |  |  | $ | 1.4 |  |  | $ | 0.3 |  |  | $ | 12.1 |  |  | $ | 152.3 |
Pension and postretirement non-service income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 0.6 |
Consolidated total |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 152.9 |
|  |  |  |  |  | Costs |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Balance at |  |  | Incurred |  |  | Costs Paid |  |  |  |  |  |  | Balance at |
|  | May 29, |  |  | and Charged |  |  | or Otherwise |  |  | Changes in |  |  | May 28, |
|  | 2022 |  |  | to Expense |  |  | Settled |  |  | Estimates |  |  | 2023 |
Severance and related costs |  | $ | 3.2 |  |  | $ | 2.6 |  |  | $ | (3.2 | ) |  | $ | (0.9 | ) |  | $ | 1.7 |
Contract/lease termination |  |  | — |  |  |  | 0.2 |  |  |  | (0.2 | ) |  |  | — |  |  |  | — |
Consulting/professional fees |  |  | 1.7 |  |  |  | 4.2 |  |  |  | (5.7 | ) |  |  | — |  |  |  | 0.2 |
Other costs |  |  | 0.2 |  |  |  | 3.5 |  |  |  | (3.7 | ) |  |  | — |  |  |  | — |
Total |  | $ | 5.1 |  |  | $ | 10.5 |  |  | $ | (12.8 | ) |  | $ | (0.9 | ) |  | $ | 1.9 |

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- Definition Tabular disclosure of costs incurred for restructuring including, but not limited to, exit and disposal activities, remediation, implementation, integration, asset impairment, and charges against earnings from the write-down of assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB TOPIC 5.P.3) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479823/420-10-S99-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482017/420-10-50-1 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB TOPIC 5.P.4) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479823/420-10-S99-2 + Details
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