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Fair Value Measurements (Tables)
 6 Months Ended
Dec. 01, 2018
Fair Value Disclosures [Abstract]  
Schedule of Long-term Debt Instruments The carrying value and fair value of the Company's long-term debt, including current maturities, is as follows for the periods indicated:
(In millions)
December 1, 2018
 
June 2, 2018
Carrying value
$
285.3

 
$
285.8

Fair value
$
288.0

 
$
288.6

Long-term debt as of December 1, 2018 and June 2, 2018 consisted of the following obligations:
(In millions)
December 1, 2018
 
June 2, 2018
Debt securities, due March 1, 2021
$
50.0

 
$
50.0

Syndicated revolving line of credit, due September 2021
225.0

 
225.0

Construction-Type Lease
6.9

 
7.0

Supplier financing program
3.4

 
3.8

Total debt
$
285.3

 
$
285.8

Less: Current debt
(3.4
)
 
(10.8
)
Long-term debt
$
281.9

 
$
275.0
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis The following table sets forth financial assets and liabilities measured at fair value through net income and the respective pricing levels to which the fair value measurements are classified within the fair value hierarchy as of December 1, 2018 and June 2, 2018.
(In millions)
December 1, 2018
 
June 2, 2018


Financial Assets
Quoted Prices with
Other Observable Inputs (Level 2)
 
Management Estimate (Level 3)
 
Quoted Prices with
Other Observable Inputs (Level 2)
 
Management Estimate (Level 3)
Cash equivalents:
 
 
 
 
 
 
 
Money market funds
$
38.0

 
$
—

 
$
121.0

 
$
—

Mutual funds - equity
0.8

 
—

 
0.9

 
—

Foreign currency forward contracts
0.4

 
—

 
0.4

 
—

Deferred compensation plan
15.6

 
—

 
15.1

 
—

Total
$
54.8

 
$
—

 
$
137.4

 
$
—

 
 
 
 
 
 
 
 
Financial Liabilities
 
 
 
 
 
 
 
Foreign currency forward contracts
$
0.4

 
$
—

 
$
0.3

 
$
—

Contingent consideration
—

 
0.4

 
—

 
0.5

Total
$
0.4

 
$
0.4

 
$
0.3

 
$
0.5
Fair Value, Assets Measured on Recurring Basis The following table sets forth financial assets measured at fair value through other comprehensive income and the respective pricing levels to which the fair value measurements are classified within the fair value hierarchy as of December 1, 2018 and June 2, 2018.
(In millions)
December 1, 2018
 
June 2, 2018


Financial Assets
Quoted Prices with
Other Observable Inputs (Level 2)
 
Management Estimate (Level 3)
 
Quoted Prices with
Other Observable Inputs (Level 2)
 
Management Estimate (Level 3)
Mutual funds - fixed income
7.4

 
—

 
7.7

 
—

Interest rate swap agreement
11.9

 
—

 
15.0

 
—

Total
$
19.3

 
$
—

 
$
22.7

 
$
—
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation The table below presents a reconciliation for liabilities measured at fair value using significant unobservable inputs (Level 3) for the six months ended ended (in millions).
Contingent Consideration
December 1, 2018
 
December 2, 2017
Beginning balance
$
0.5

 
$
0.5

Net realized losses (gains)
—

 
0.1

Payments
(0.1
)
 
(0.1
)
Ending balance
$
0.4

 
$
0.5
Unrealized Gain (Loss) on Investments The following is a summary of the carrying and market values of the Company's fixed income mutual funds and equity mutual funds as of the respective dates:
 
December 1, 2018
 
June 2, 2018
(In millions)
Cost
 
Unrealized
Gain/(loss)
 
Market
Value
 
Cost
 
Unrealized
Gain/(Loss)
 
Market
Value
Mutual funds - fixed income
$
7.5

 
$
(0.1
)
 
$
7.4

 
$
7.8

 
$
(0.1
)
 
$
7.7

Mutual funds - equity
0.7

 
0.1

 
0.8

 
0.7

 
0.2

 
0.9

Total
$
8.2

 
$
—

 
$
8.2

 
$
8.5

 
$
0.1

 
$
8.6