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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 12 Months Ended
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May 31, 2026
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 31, 2026 | ​ | $ | 3.6 | ​ | ​ | 0.4 | ​ | ​ | — | ​ | 0.1 | ​ | $ | 3.9
Year ended May 25, 2025 | ​ | $ | 3.0 | ​ | ​ | 1.6 | ​ | ​ | — | ​ | 1.0 | ​ | $ | 3.6
Year ended May 26, 2024 | ​ | $ | 2.7 | ​ | ​ | 0.6 | ​ | ​ | 0.2 | ​ | 0.5 | ​ | $ | 3.0
1 Primarily relates to translation. 2 Bad debts charged off and adjustments to previous reserves, less recoveries.
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 of other comprehensive income | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2026 | ​ | 2025
Currency translation losses, net of reclassification adjustments | ​ | $ | (50.3) | ​ | $ | (65.8)
Derivative adjustments, net of reclassification adjustments | ​ | ​ | 19.8 | ​ | ​ | 22.0
Pension and postretirement benefit obligations, net of reclassification adjustments | ​ | ​ | 37.9 | ​ | ​ | 60.1
Accumulated other comprehensive income | ​ | $ | 7.4 | ​ | $ | 16.3
Schedule of reclassifications from AOCI | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Affected Line Item in the Consolidated Statement | ​
​ | ​ | 2026 | ​ | 2025 | ​ | 2024 | ​ | of Operations1 | ​
Net derivative adjustments: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash flow hedges | ​ | $ | (2.3) | ​ | $ | (2.7) | ​ | $ | (3.5) | ​ | Interest expense, net | ​
Cash flow hedges | ​ | ​ | (2.5) | ​ | ​ | (4.1) | ​ | ​ | (4.7) | ​ | Equity method investment earnings | ​
​ | ​ | ​ | (4.8) | ​ | ​ | (6.8) | ​ | ​ | (8.2) | ​ | Total before tax | ​
​ | ​ | ​ | 1.2 | ​ | ​ | 1.7 | ​ | ​ | 2.0 | ​ | Income tax expense | ​
​ | ​ | $ | (3.6) | ​ | $ | (5.1) | ​ | $ | (6.2) | ​ | Net of tax | ​
Pension and postretirement benefit obligations: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net prior service benefit | ​ | $ | (0.2) | ​ | $ | (0.1) | ​ | $ | (0.1) | ​ | Pension and postretirement non-service income | ​
Net actuarial gain | ​ | ​ | (3.4) | ​ | ​ | (5.1) | ​ | ​ | (4.7) | ​ | Pension and postretirement non-service income | ​
Pension settlement | ​ | ​ | 2.7 | ​ | ​ | (13.0) | ​ | ​ | 1.1 | ​ | Pension and postretirement non-service income | ​
​ | ​ | ​ | (0.9) | ​ | ​ | (18.2) | ​ | ​ | (3.7) | ​ | Total before tax | ​
​ | ​ | ​ | 0.3 | ​ | ​ | 4.4 | ​ | ​ | 0.9 | ​ | Income tax expense | ​
​ | ​ | $ | (0.6) | ​ | $ | (13.8) | ​ | $ | (2.8) | ​ | Net of tax | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Currency translation losses | ​ | $ | — | ​ | $ | 41.8 | ​ | $ | — | ​ | Selling, general and administrative expenses 2 | ​
​ | ​ | ​ | — | ​ | ​ | 41.8 | ​ | ​ | — | ​ | Total before tax | ​
​ | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | Income tax expense | ​
​ | ​ | $ | — | ​ | $ | 41.8 | ​ | $ | — | ​ | Net of tax | ​
​ 1 Amounts in parentheses indicate income recognized in the Consolidated Statements of Operations. 2 Amount represents the reclassification for currency translation losses in connection with the sale of ATFL (see Note 7).

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