XML 57 R8.htm IDEA: XBRL DOCUMENT v3.25.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
 3 Months Ended
Aug. 24, 2025
Aug. 25, 2024
Cash flows from operating activities    
Net income $ 64.3 $ 127.4
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization of intangibles and debt issuance costs 95.3 90.5
Stock-settled, stock-based compensation expense 10.6 9.5
Equity method investment (earnings) loss, net of distributions 0.2 (0.1)
Deferred income taxes 14.5 (2.9)
Pension expense, net of contributions 13.1 0.6
Blue chip swap transaction gains 0.0 (16.6)
Other (1.5) (15.0)
Changes in operating assets and liabilities:    
Receivables 17.6 31.9
Inventories 136.3 10.2
Income taxes payable/receivable, net 22.8 49.1
Prepaid expenses and other current assets 40.2 50.1
Accounts payable (47.7) 9.5
Accrued liabilities (13.7) (14.0)
Net cash provided by operating activities 352.0 330.2
Cash flows from investing activities    
Additions to property, plant and equipment (77.6) (325.9)
Additions to other long-term assets (1.6) (26.3)
Proceeds from blue chip swap transactions, net of purchases 0.0 16.6
Other 2.9 0.0
Net cash used for investing activities (76.3) (335.6)
Cash flows from financing activities    
Proceeds from short-term borrowings 305.0 398.0
Repayments of short-term borrowings (466.9) (194.4)
Proceeds from issuance of debt 0.0 3.3
Repayments of debt and financing obligations (16.2) (10.2)
Dividends paid (51.7) (51.7)
Repurchase of common stock and common stock withheld to cover taxes (18.7) (92.2)
Other 0.0 (0.6)
Net cash (used for) provided by financing activities (248.5) 52.2
Effect of exchange rate changes on cash and cash equivalents 0.7 2.6
Net increase in cash and cash equivalents 27.9 49.4
Cash and cash equivalents, beginning of period 70.7 71.4
Cash and cash equivalents, end of period $ 98.6 $ 120.8