Fair Value Measurements (Tables)

9 Months Ended

Feb. 27, 2016

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis

The following tables set forth financial assets and liabilities measured at fair value in the Condensed Consolidated Balance Sheets and the respective pricing levels to which the fair value measurements are classified within the fair value hierarchy as of February 27, 2016 and May 30, 2015.



(In millions)	Fair Value Measurements
	February 27, 2016		May 30, 2015
Financial Assets	Quoted Prices with Other Observable Inputs (Level 2)		Quoted Prices with Other Observable Inputs (Level 2)
Available-for-sale marketable securities:
Asset-backed securities	$	—	$	0.2
Corporate securities	—		0.6
Mortgage-backed securities	—		0.5
Government obligations	0.4		4.4
Mutual funds	6.9		—
Foreign currency forward contracts	0.5		0.7
Deferred compensation plan	7.2		7.9
Total	$	15.0	$	14.3

Financial Liabilities
Foreign currency forward contracts	$	0.7	$	0.2
Total	$	0.7	$	0.2

Unrealized Gain (Loss) on Investments

The following is a summary of the carrying and market values of the company's marketable securities as of the respective dates.



	February 27, 2016
(In millions)	Cost		Unrealized Gain		Unrealized Loss		Market Value
Government obligations	0.4		—		—		0.4
Mutual funds	6.9		$	—	$	—	$	6.9
Total	$	7.3	$	—	$	—	$	7.3

	May 30, 2015
(In millions)	Cost		Unrealized Gain		Unrealized Loss		Market Value
Asset-backed securities	$	0.2	$	—	$	—	$	0.2
Corporate securities	0.6		—		—		0.6
Government obligations	4.4		—		—		4.4
Mortgage-backed securities	0.5		—		—		0.5
Total	$	5.7	$	—	$	—	$	5.7

Investments Classified by Contractual Maturity Date

Maturities of debt securities included in marketable securities as of February 27, 2016, are as follows:



(In millions)	Cost		Fair Value
Due within one year	$	0.4	$	0.4
Total	$	0.4	$	0.4