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DERIVATIVE FINANCIAL INSTRUMENTS (Tables) | 12 Months Ended
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May 26, 2024
DERIVATIVE FINANCIAL INSTRUMENTS |
Schedule of net derivative gains (losses) from economic hedges | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2024 |  | 2023 |  | 2022
Net derivative gains (losses) incurred | ​ | $ | 2.9 | ​ | $ | (17.6) | ​ | $ | 37.1
Less: Net derivative gains (losses) allocated to reporting segments | ​ | ​ | (13.2) | ​ | ​ | 19.5 | ​ | ​ | 32.7
Net derivative gains (losses) recognized in general corporate expenses | ​ | $ | 16.1 | ​ | $ | (37.1) | ​ | $ | 4.4
Net derivative gains (losses) allocated to Grocery & Snacks | ​ | $ | (6.1) | ​ | $ | 6.0 | ​ | $ | 17.3
Net derivative gains (losses) allocated to Refrigerated & Frozen | ​ | ​ | (1.2) | ​ | ​ | 9.6 | ​ | ​ | 17.4
Net derivative gains (losses) allocated to International | ​ | ​ | (5.6) | ​ | ​ | 2.5 | ​ | ​ | (3.6)
Net derivative gains (losses) allocated to Foodservice | ​ | ​ | (0.3) | ​ | ​ | 1.4 | ​ | ​ | 1.6
Net derivative gains (losses) included in segment operating profit | ​ | $ | (13.2) | ​ | $ | 19.5 | ​ | $ | 32.7
Schedule of Derivative Assets and Liabilities Representing a Right to Reclaim, or Obligation to Return, Cash Collateral | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | May 26, 2024 |  | May 28, 2023
Prepaid expenses and other current assets | ​ | $ | 3.0 | ​ | $ | 10.0
Other accrued liabilities | ​ | ​ | 3.6 | ​ | ​ | 3.6
Schedule of Derivative Instruments In Statement of Financial Position Gross Fair Value | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Derivative Assets | ​ | Derivative Liabilities
​ |  | Balance Sheet Location |  | Fair Value |  | Balance Sheet Location |  | Fair Value
Commodity contracts | ​ | Prepaid expenses and other current assets | ​ | $ | 3.8 | ​ | Other accrued liabilities | ​ | $ | 2.6
Foreign exchange contracts | ​ | Prepaid expenses and other current assets | ​ | ​ | 0.7 | ​ | Other accrued liabilities | ​ | ​ | 1.3
Total derivatives not designated as hedging instruments | ​ | ​ | ​ | $ | 4.5 | ​ | ​ | ​ | $ | 3.9
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Derivative Assets | ​ | Derivative Liabilities
​ |  | Balance Sheet Location |  | Fair Value |  | Balance Sheet Location |  | Fair Value
Commodity contracts | ​ | Prepaid expenses and other current assets | ​ | $ | 1.1 | ​ | Other accrued liabilities | ​ | $ | 14.4
Foreign exchange contracts | ​ | Prepaid expenses and other current assets | ​ | ​ | 0.6 | ​ | Other accrued liabilities | ​ | ​ | 2.2
Total derivatives not designated as hedging instruments | ​ | ​ | ​ | $ | 1.7 | ​ | ​ | ​ | $ | 16.6
Schedule of Derivatives Not Designated as Hedging Instruments | ​
​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the Fiscal Year Ended May 26, 2024
Derivatives Not Designated as Hedging Instruments |  | Location in Consolidated Statement of Earnings of Gains (Losses) Recognized on Derivatives |  | Amount of Gains (Losses) Recognized on Derivatives in Consolidated Statement of Earnings
Commodity contracts | ​ | Cost of goods sold | ​ | $ | 6.9
Foreign exchange contracts | ​ | Cost of goods sold | ​ | ​ | (4.0)
Total gains from derivative instruments not designated as hedging instruments | ​ | ​ | ​ | $ | 2.9
​
​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the Fiscal Year Ended May 28, 2023
Derivatives Not Designated as Hedging Instruments |  | Location in Consolidated Statement of Earnings of Gains (Losses) Recognized on Derivatives |  | Amount of Gains (Losses) Recognized on Derivatives in Consolidated Statement of Earnings
Commodity contracts | ​ | Cost of goods sold | ​ | $ | (19.7)
Foreign exchange contracts | ​ | Cost of goods sold | ​ | ​ | 2.1
Total losses from derivative instruments not designated as hedging instruments | ​ | ​ | ​ | $ | (17.6)
​
​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the Fiscal Year Ended May 29, 2022
Derivatives Not Designated as Hedging Instruments |  | Location in Consolidated Statement of Earnings of Gains (Losses) Recognized on Derivatives |  | Amount of Gains (Losses) Recognized on Derivatives in Consolidated Statement of Earnings
Commodity contracts | ​ | Cost of goods sold | ​ | $ | 33.4
Foreign exchange contracts | ​ | Cost of goods sold | ​ | ​ | 3.7
Total gains from derivative instruments not designated as hedging instruments | ​ | ​ | ​ | $ | 37.1

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