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Fair Value Measurements (Tables) | 3 Months Ended
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Aug. 31, 2019
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) | August 31, 2019 |  | June 1, 2019
Carrying value | $ | 278.3 |  |  | $ | 285.0 |
Fair value | $ | 280.8 |  |  | $ | 287.8 |
Assets and Liabilities Measured at Fair Value and Recorded in Net Earnings | The following table sets forth financial assets and liabilities measured at fair value and recorded in net earnings and the respective pricing levels to which the fair value measurements are classified within the fair value hierarchy as of August 31, 2019 and June 1, 2019.
(In millions) | August 31, 2019 |  | June 1, 2019
Financial Assets | NAV |  | Quoted Prices with Other Observable Inputs (Level 2) |  | Management Estimate (Level 3) |  | NAV |  | Quoted Prices with Other Observable Inputs (Level 2) |  | Management Estimate (Level 3)
Cash equivalents: |  |  |  |  |  |  |  |  |  |  |
Money market funds | $ | 60.6 |  |  | $ | — |  |  | $ | — |  |  | $ | 69.5 |  |  | $ | — |  |  | $ | — |
Mutual funds - equity | — |  |  | 0.9 |  |  | — |  |  | — |  |  | 0.9 |  |  | — |
Deferred compensation plan | — |  |  | 13.5 |  |  | — |  |  | — |  |  | 12.5 |  |  | — |
Total | $ | 60.6 |  |  | $ | 14.4 |  |  | $ | — |  |  | $ | 69.5 |  |  | $ | 13.4 |  |  | $ | — |
Financial Liabilities |  |  |  |  |  |  |  |  |  |  |
Foreign currency forward contracts | $ | — |  |  | $ | 0.1 |  |  | $ | — |  |  | $ | — |  |  | $ | 1.4 |  |  | $ | — |
Total | $ | — |  |  | $ | 0.1 |  |  | $ | — |  |  | $ | — |  |  | $ | 1.4 |  |  | $ | — |
Assets and Liabilities Measured at Fair Value and Recorded in Other Comprehensive Income | The following table sets forth financial assets and liabilities measured at fair value and recorded in other comprehensive income and the respective pricing levels to which the fair value measurements are classified within the fair value hierarchy as of August 31, 2019 and June 1, 2019.
(In millions) | August 31, 2019 |  | June 1, 2019
Financial Assets | Quoted Prices with Other Observable Inputs (Level 2) |  | Quoted Prices with Other Observable Inputs (Level 2)
Mutual funds - fixed income | $ | 8.1 |  |  | $ | 7.9 |
Interest rate swap agreement | — |  |  | 1.0 |
Total | $ | 8.1 |  |  | $ | 8.9 |
Financial Liabilities |  |  |
Interest rate swap agreement | $ | 12.7 |  |  | $ | 2.2 |
Total | $ | 12.7 |  |  | $ | 2.2 |
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:
| August 31, 2019 |  | June 1, 2019
(In millions) | Cost |  | Unrealized Gain/(Loss) |  | Market Value |  | Cost |  | Unrealized Gain/(Loss) |  | Market Value
Mutual funds - fixed income | $ | 8.0 |  |  | $ | 0.1 |  |  | $ | 8.1 |  |  | $ | 7.9 |  |  | $ | — |  |  | $ | 7.9 |
Mutual funds - equity | 0.7 |  |  | 0.2 |  |  | 0.9 |  |  | 0.8 |  |  | 0.1 |  |  | 0.9 |
Total | $ | 8.7 |  |  | $ | 0.3 |  |  | $ | 9.0 |  |  | $ | 8.7 |  |  | $ | 0.1 |  |  | $ | 8.8 |

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- Definition Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19190-110258 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=109250915&loc=d3e13467-108611 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19190-110258 + Details
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