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Long-Term Debt (Tables)

12 Months Ended

May 30, 2020

Line of Credit Facility

Schedule of Long-term Debt Instruments

Long-term debt consisted of the following obligations:

(In millions)	May 30, 2020				June 1, 2019
Debt securities, 6.0%, due March 1, 2021	$	50.0			$	50.0
Debt securities, 4.95%, due May 20, 2030	49.9				—
Syndicated Revolving Line of Credit, due August 2024	490.0				225.0
Construction-Type Lease	—				6.9
Supplier financing program	1.4				3.1
Total debt	$	591.3			$	285.0
Less: Current debt	(51.4		)		(3.1		)
Long-term debt	$	539.9			$	281.9

Schedule of Line of Credit Facilities

Available borrowings under the syndicated revolving line of credit were as follows for the periods indicated:

(In millions)	May 30, 2020				June 1, 2019
Syndicated revolving line of credit borrowing capacity	$	500.0			$	400.0
Less: Borrowings under the syndicated revolving line of credit	490.0				225.0
Less: Outstanding letters of credit	9.4				10.0
Available borrowings under the syndicated revolving line of credit	$	0.6			$	165.0

Schedule of Maturities of Long-term Debt

Annual maturities of debt for the five fiscal years subsequent to May 30, 2020 are as shown in the table below.

(In millions)
2021	$	51.4
2022	$	—
2023	$	—
2024	$	—
2025	$	490.0
Thereafter	$	50.0

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