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Debt | 6 Months Ended
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Nov. 28, 2015
Debt Disclosure [Abstract] |
Debt Disclosure | Debt Long-term debt as of November 28, 2015 and May 30, 2015 consisted of the following obligations:
(In millions) | November 28, 2015 |  | May 30, 2015
Series B senior notes, due January 3, 2018 | $ | 149.8 |  |  | $ | 149.8 |
Debt securities, due March 1, 2021 | 50.0 |  |  | 50.0 |
Syndicated revolving line of credit, due July 2019 | 57.0 |  |  | 90.0 |
Total | $ | 256.8 |  |  | $ | 289.8 |
On July 21, 2014, the company entered into a third amendment and restatement of its syndicated revolving line of credit, which provides the company with up to $250 million in revolving variable interest borrowing capacity and includes an "accordion feature" allowing the company to increase, at its option and subject to the approval of the participating banks, the aggregate borrowing capacity of the facility by $125 million. The facility expires in July 2019 and outstanding borrowings bear interest at rates based on the prime rate, federal funds rate, LIBOR, or negotiated rates as outlined in the agreement. Interest is payable periodically throughout the period if borrowings are outstanding. As of November 28, 2015, the total debt outstanding related to borrowings against this facility was $57.0 million. These borrowings are included within Long-term debt in the Condensed Consolidated Balance Sheet. As of November 28, 2015, the total usage against the facility was $65.6 million, of which $8.6 million related to outstanding letters of credit. As of May 30, 2015, total usage against this facility was $98.3 million, $8.3 million of which related to outstanding letters of credit.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19,20,22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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