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Consolidated Statement of Cash Flows - USD ($)
$ in Millions
12 Months Ended
May 30, 2020
Jun. 01, 2019
Jun. 02, 2018
Cash Flows from Operating Activities:      
Net (loss) earnings $ (14.4) $ 160.5 $ 128.7
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Depreciation expense 68.1 65.9 60.9
Amortization expense 11.4 6.2 6.0
Earnings from nonconsolidated affiliates net of dividends received (4.8) (2.1) (0.2)
Investment fair value adjustment 0.0 (2.1) 0.0
Gain on consolidation of equity method investments 36.2 0.0 0.0
Deferred taxes (25.2) 0.8 (0.8)
Pension contributions (0.9) (0.9) (13.4)
Pension and post-retirement expenses 1.6 1.2 2.9
Impairment charges 205.4 0.0 0.0
Restructuring expenses 26.4 10.2 5.7
Stock-based compensation 2.7 7.3 7.7
Increase in long-term assets (4.7) (0.4) (2.2)
Increase in long-term liabilities 5.8 1.6 3.4
Decrease (increase) in accounts receivable & unbilled accounts receivable 68.6 (24.8) (33.1)
Decrease (increase) in inventories 6.0 (31.9) (12.4)
(Decrease) increase in prepaid expenses and other (2.2) (0.6) (3.0)
(Decrease) increase in accounts payable (59.5) 0.5 16.0
(Decrease) increase in accrued liabilities (32.0) 22.7 (0.3)
Other, net 5.7 2.3 0.6
Net Cash Provided by Operating Activities 221.8 216.4 166.5
Cash Flows from Investing Activities:      
Marketable securities purchases (3.1) (1.9) (1.0)
Marketable securities sales 5.0 1.7 1.0
Capital expenditures (69.0) (85.8) (70.6)
Proceeds from sales of property and dealers 0.2 0.5 2.1
Proceeds from life insurance policy 0.0 0.0 8.1
Purchase of HAY licensing agreement 0.0 (4.8) 0.0
Acquisitions, net of cash received (111.2) 0.0 0.0
Equity investment in non-controlled entities (3.3) (73.6) 0.0
Other, net 13.3 (1.1) (2.3)
Net Cash Used in Investing Activities (168.1) (165.0) (62.7)
Cash Flows from Financing Activities:      
Borrowings of long-term debt 50.0 0.0 0.0
Repayments of long-term debt 0.0 0.0 (150.0)
Proceeds from credit facility 265.0 0.0 340.4
Repayments of credit facility 0.0 0.0 (115.4)
Dividends paid (36.4) (45.6) (42.4)
Common stock issued 15.6 12.3 17.0
Common stock repurchased and retired (26.6) (47.9) (46.5)
Purchase of redeemable noncontrolling interests (20.3) (10.1) (1.0)
Other, net (3.3) (0.6) 0.4
Net Cash Provided by (Used in) Financing Activities 244.0 (91.9) 2.5
Effect of exchange rate changes on cash and cash equivalents (2.9) (4.2) 1.4
Net Increase In Cash and Cash Equivalents 294.8 (44.7) 107.7
Cash and cash equivalents, Beginning of Year 159.2 203.9 96.2
Cash and Cash Equivalents, End of Year 454.0 159.2 203.9
Other Cash Flow Information      
Interest paid 11.4 11.5 16.4
Income taxes paid, net of cash received $ 39.6 $ 41.0 $ 34.2