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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 12 Months Ended
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May 26, 2024
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES |
Schedule of allowance for doubtful accounts | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Balance at | ​ | ​ | Additions Charged | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Beginning of | ​ | ​ | to Costs and | ​ | ​ | ​ | ​ | Deductions from | ​ | Balance at Close
​ | ​ | Period | ​ | ​ | Expenses | ​ | ​ | Other1 | ​ | Reserves2 | ​ | of Period
Year ended May 26, 2024 | ​ | $ | 2.7 | ​ | ​ | 0.6 | ​ | ​ | 0.2 | ​ | 0.5 | ​ | $ | 3.0
Year ended May 28, 20233 | ​ | $ | 2.8 | ​ | ​ | 0.1 | ​ | ​ | (0.1) | ​ | 0.1 | ​ | $ | 2.7
Year ended May 29, 20223 | ​ | $ | 2.0 | ​ | ​ | 1.4 | ​ | ​ | — | ​ | 0.6 | ​ | $ | 2.8
1 Primarily relates to translation. 2 Bad debts charged off and adjustments to previous reserves, less recoveries. 3 Prior year amounts have been adjusted to remove the activity of a business held for sale.
Schedule of estimated useful lives | ​
​ | ​ | ​ | ​
​ | ​ | Years
Land improvements | ​ | ​ | 1 - 40
Buildings | ​ | ​ | 15 - 40
Machinery and equipment | ​ | ​ | 3 - 20
Furniture, fixtures, office equipment and other | ​ | ​ | 5 - 15
Schedule of Accumulated balances for each component | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2024 | ​ | 2023 | ​ | 2022
Currency translation losses, net of reclassification adjustments | ​ | $ | (89.2) | ​ | $ | (99.7) | ​ | $ | (95.1)
Derivative adjustments, net of reclassification adjustments | ​ | ​ | 29.2 | ​ | ​ | 29.2 | ​ | ​ | 29.8
Pension and postretirement benefit obligations, net of reclassification adjustments | ​ | ​ | 24.5 | ​ | ​ | 26.1 | ​ | ​ | 54.1
Accumulated other comprehensive loss | ​ | $ | (35.5) | ​ | $ | (44.4) | ​ | $ | (11.2)
Schedule of reclassifications from AOCI | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Affected Line Item in the Consolidated Statement
​ | ​ | 2024 | ​ | 2023 | ​ | 2022 | ​ | of Earnings1
Net derivative adjustments: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash flow hedges | ​ | $ | (3.5) | ​ | $ | (3.3) | ​ | $ | (3.1) | ​ | Interest expense, net
Cash flow hedges | ​ | ​ | (4.7) | ​ | ​ | (1.6) | ​ | ​ | 1.8 | ​ | Equity method investment earnings
​ | ​ | ​ | (8.2) | ​ | ​ | (4.9) | ​ | ​ | (1.3) | ​ | Total before tax
​ | ​ | ​ | 2.0 | ​ | ​ | 1.2 | ​ | ​ | 0.4 | ​ | Income tax expense
​ | ​ | $ | (6.2) | ​ | $ | (3.7) | ​ | $ | (0.9) | ​ | Net of tax
Amortization of pension and postretirement benefit obligations: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net prior service cost (benefit) | ​ | $ | (0.1) | ​ | $ | (0.1) | ​ | $ | 0.1 | ​ | Pension and postretirement non-service income
Net actuarial gain | ​ | ​ | (4.7) | ​ | ​ | (4.4) | ​ | ​ | (3.6) | ​ | Pension and postretirement non-service income
Pension settlement | ​ | ​ | 1.1 | ​ | ​ | — | ​ | ​ | — | ​ | Pension and postretirement non-service income
​ | ​ | ​ | (3.7) | ​ | ​ | (4.5) | ​ | ​ | (3.5) | ​ | Total before tax
​ | ​ | ​ | 0.9 | ​ | ​ | 1.3 | ​ | ​ | 1.0 | ​ | Income tax expense
​ | ​ | $ | (2.8) | ​ | $ | (3.2) | ​ | $ | (2.5) | ​ | Net of tax
​ 1 Amounts in parentheses indicate income recognized in the Consolidated Statements of Earnings.

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