XML 30 R14.htm IDEA: XBRL DOCUMENT
v3.24.2

ASSETS HELD FOR SALE | 12 Months Ended
--- | ---
May 26, 2024
ASSETS HELD FOR SALE |
ASSETS HELD FOR SALE | 6. ASSETS HELD FOR SALE During the second quarter of fiscal 2024, we initiated a plan to sell our ownership stake in Agro Tech Foods Limited, which is a majority-owned subsidiary that is consolidated within our International segment. On February 29, 2024, we entered into a definitive agreement to sell this business. The closing of the transaction is subject to certain closing conditions, including the receipt of any applicable regulatory approvals in addition to a mandatory tender offer to minority shareholders, and is expected to be completed by the end of calendar year 2024. We expect to realize proceeds of approximately $78 million from the sale, which will be paid in the local currency (Indian Rupee). The assets and liabilities have been reclassified as assets and liabilities held for sale within our Consolidated Balance Sheets for all periods presented. In connection with this activity, we recognized impairment charges of $36.4 million within SG&A expenses in fiscal 2024. The assets and liabilities classified as held for sale reflected in our Consolidated Balance Sheets were as follows: ​
​ | ​ | ​ | ​ | ​ | ​
​ | ​ | May 26, 2024 | ​ | ​ | May 28, 2023
Current assets | $ | 32.0 | ​ | $ | 34.3
Noncurrent assets (including goodwill of $46.4 million and $68.8 million, respectively) | ​ | 89.2 | ​ | ​ | 123.3
Current liabilities | ​ | 14.8 | ​ | ​ | 16.1
Noncurrent liabilities | ​ | 1.9 | ​ | ​ | 5.3
​

X
- References No definition available. + Details
Name: | us-gaap_DiscontinuedOperationsAndDisposalGroupsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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 -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//205-20/tableOfContent Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//360/tableOfContent + Details
Name: | us-gaap_DisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration