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v3.24.2

LEASES (Tables) | 12 Months Ended
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May 26, 2024
LEASES |
Schedule of Operating and Finance Leases Reported In Balance Sheet | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Operating Leases
​ |  | Balance Sheet Location |  | May 26, 2024 |  | May 28, 2023
ROU assets, net | ​ | Other assets | ​ | $ | 176.8 | ​ | $ | 197.5
Lease liabilities (current) | ​ | Other accrued liabilities | ​ | ​ | 39.4 | ​ | ​ | 42.1
Lease liabilities (noncurrent) | ​ | Other noncurrent liabilities | ​ | ​ | 172.2 | ​ | ​ | 185.6
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Finance Leases
​ |  | Balance Sheet Location |  | May 26, 2024 |  | May 28, 2023
ROU assets, at cost | ​ | Property, plant and equipment | ​ | $ | 377.0 | ​ | $ | 203.5
Less accumulated depreciation | ​ | Less accumulated depreciation | ​ | ​ | (97.5) | ​ | ​ | (77.2)
ROU assets, net | ​ | Property, plant and equipment, net | ​ | ​ | 279.5 | ​ | ​ | 126.3
Lease liabilities (current) | ​ | Current installments of long-term debt | ​ | ​ | 20.2 | ​ | ​ | 17.4
Lease liabilities (noncurrent) | ​ | Senior long-term debt, excluding current installments | ​ | ​ | 253.5 | ​ | ​ | 95.2
​ The components of total lease cost were as follows:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2024 |  | 2023 |  | 2022
Operating lease cost | ​ | $ | 53.1 | ​ | $ | 55.3 | ​ | $ | 52.9
Finance lease cost | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Depreciation of leased assets | ​ | ​ | 23.2 | ​ | ​ | 16.8 | ​ | ​ | 16.4
Interest on lease liabilities | ​ | ​ | 12.0 | ​ | ​ | 5.3 | ​ | ​ | 6.5
Short-term lease cost | ​ | ​ | 11.2 | ​ | ​ | 11.0 | ​ | ​ | 7.3
Total lease cost | ​ | $ | 99.5 | ​ | $ | 88.4 | ​ | $ | 83.1
Schedule Of Weighted Average Remaining Lease Terms and Weighted Average Discount Rate For Leases | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Operating Leases | ​ | Finance Leases
​ |  | 2024 |  | 2023 |  | 2024 |  | 2023
Weighted-average remaining lease term (in years) | ​ | 6.5 | ​ | 6.7 | ​ | 14.8 | ​ | 6.9
Weighted-average discount rate | ​ | 3.87% | ​ | 3.55% | ​ | 5.25% | ​ | 4.24%
Schedule of Cash Flows Arising From Lease Transactions | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2024 |  | 2023 |  | 2022
Cash paid for amounts included in the measurement of lease liabilities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Operating cash outflows from operating leases | ​ | $ | 52.1 | ​ | $ | 57.7 | ​ | $ | 55.7
Operating cash outflows from finance leases | ​ | ​ | 5.8 | ​ | ​ | 5.3 | ​ | ​ | 6.5
Financing cash outflows from finance leases | ​ | ​ | 22.7 | ​ | ​ | 25.0 | ​ | ​ | 31.2
ROU assets obtained in exchange for new lease liabilities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Operating leases | ​ | ​ | 27.5 | ​ | ​ | 34.2 | ​ | ​ | 68.5
Finance leases | ​ | ​ | 177.3 | ​ | ​ | 7.8 | ​ | ​ | 23.6
Schedule of Operating and Finance Lease Liabilities Maturities | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Operating Leases |  | Finance Leases |  | Total
2025 | ​ | $ | 47.1 | ​ | $ | 40.6 | ​ | $ | 87.7
2026 | ​ | ​ | 42.4 | ​ | ​ | 35.5 | ​ | ​ | 77.9
2027 | ​ | ​ | 35.0 | ​ | ​ | 42.3 | ​ | ​ | 77.3
2028 | ​ | ​ | 32.2 | ​ | ​ | 24.7 | ​ | ​ | 56.9
2029 | ​ | ​ | 23.2 | ​ | ​ | 25.9 | ​ | ​ | 49.1
Later years | ​ | ​ | 63.6 | ​ | ​ | 257.8 | ​ | ​ | 321.4
Total lease payments | ​ | ​ | 243.5 | ​ | ​ | 426.8 | ​ | ​ | 670.3
Less: Imputed interest | ​ | ​ | (31.9) | ​ | ​ | (153.1) | ​ | ​ | (185.0)
Total lease liabilities | ​ | $ | 211.6 | ​ | $ | 273.7 | ​ | $ | 485.3

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