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Leases (Tables)
 12 Months Ended
May 28, 2022
Leases [Abstract]  
Summary of Lease Expense Components
The Company's lease costs recognized in the Consolidated Statement of Income consist of the following:
Year EndedYear Ended
(In millions)May 28, 2022May 29, 2021
Operating lease costs$89.4 $50.3 
Short-term lease costs10.4 3.2 
Variable lease costs10.3 8.3 
Total$110.1 $61.8 
Included in the Company's Right-of-use assets and Lease liabilities are variable lease costs, not included in the table above, for raw material purchases under certain supply arrangements that the Company has determined to meet the definition of a lease:
Year EndedYear Ended
May 28, 2022May 29, 2021
Variable lease costs$95.6 $84.5 
Supplemental cash flow and other lease information as of and for periods indicated, includes (dollars in millions):
Year EndedYear Ended
May 28, 2022May 29, 2021
Weighted-average remaining lease term (in years)
Operating leases7.17
Weighted-average discount rate
Operating leases1.9 %2.8 %
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flow from operating leases$85.7 $45.3 
ROU assets obtained in exchange for new operating lease liabilities
Operating leases$89.1 $58.1 
Summary of Future Estimated Minimum Lease Payments The undiscounted annual future minimum lease payments related to the Company's right-of-use assets are summarized by fiscal year in the following table:
(In millions)
2023$95.8 
202488.0 
202578.7 
202661.8 
202750.6 
Thereafter160.4 
Total lease payments*$535.3 
Less interest57.2 
Present value of lease liabilities$478.1 
*Lease payments exclude $9.8 million of legally binding minimum lease payments for leases signed but not yet commenced.