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Short-Term Borrowings and Long-Term Debt (Tables)

12 Months Ended

Jun. 03, 2023

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

Long-term debt consisted of the following obligations:

(In millions)						June 3, 2023						May 28, 2022
Syndicated revolving line of credit, due July 2026						$	426.7					$	413.0
Term Loan A, 7.0179%, due July 2026						370.0						390.0
Term Loan B, 7.2679% due July 2028						615.6						621.8
Supplier financing program						2.1						3.1
Total debt						$	1,414.4					$	1,427.9
Less: Unamortized discount and issuance costs						(15.9)						(19.4)
Less: Current debt						(33.4)						(29.3)
Long-term debt						$	1,365.1					$	1,379.2

Schedule of Line of Credit Facilities

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

(In millions)						June 3, 2023						May 28, 2022
Syndicated revolving line of credit borrowing capacity						$	725.0					$	725.0
Less: Borrowings under the syndicated revolving line of credit						426.7						413.0
Less: Outstanding letters of credit						14.1						15.4
Available borrowings under the syndicated revolving line of credit						$	284.2					$	296.6

Schedule of Maturities of Long-term Debt

Annual maturities of debt for the five fiscal years subsequent to June 3, 2023 are as shown in the table below.

(In millions)
2024			$	33.4
2025			41.3
2026			46.2
2027			703.0
2028			6.2
Thereafter			584.3
Total			$	1,414.4

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