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Leases (Tables)
9 Months Ended
Feb. 26, 2022
Leases [Abstract]  
Summary of Lease Expense Components
The components of lease expense are provided in the table below:
Three Months EndedNine Months Ended
(In millions)February 26, 2022February 27, 2021February 26, 2022February 27, 2021
Operating lease costs$23.7 $13.3 $64.8 $36.8 
Short-term lease costs3.0 0.9 7.4 2.4 
Variable lease costs*2.4 2.3 7.3 5.9 
Total$29.1 $16.5 $79.5 $45.1 
*Not included in the table above for the three and nine months ended February 26, 2022 are variable lease costs of $22.7 million and $68.4 million, respectively, for raw material purchases under certain supply arrangements that the Company has determined meet the definition of a lease. This compares to purchases of $22.8 million and $61.40 million for the three and nine months ended February 27, 2021, respectively.
Supplemental cash flow and other information related to leases are provided in the table below:
Three Months EndedNine Months Ended
(In millions)February 26, 2022February 27, 2021February 26, 2022February 27, 2021
Operating cash flows used in operating leases$28.9 $13.5 $62.6 $36.3 
Right-of-use assets obtained in exchange for new liabilities$28.4 $7.1 $54.3 $55.7 
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)
2022$75.5 
202383.4 
202474.0 
202563.3 
202650.4 
Thereafter145.7 
Total lease payments*$492.3 
Less interest21.2 
Present value of lease liabilities$471.1 
*Lease payments exclude $1.8 million of legally binding minimum lease payments for leases signed but not yet commenced.