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Employee Benefit Plans (Tables)

12 Months Ended

Jun. 01, 2024

Retirement Benefits [Abstract]

Schedule of Funded Status and Amounts Recognized in the Balance Sheet

The following table presents, for the fiscal years noted, a summary of the changes in the projected benefit obligation, plan assets and funded status of the Company's pension plans:

									Pension Benefits
(In millions)									2024															2023
									Domestic			International												Domestic			International
Change in benefit obligation:
Benefit obligation at beginning of year									$	123.8		$	76.0											$	152.6		$	104.5
Interest cost									6.1			4.1												6.1			3.1
Expected Administrative Expenses									—			—												0.6			—
Loss related to settlement									—			—												4.7			—
Foreign exchange impact									—			1.8												—			(2.5)
Actuarial loss (gain) (1)									4.4			2.6												(18.2)			(26.2)
Administrative expenses paid									—			—												(0.7)			—
Benefits paid									(8.4)			(3.3)												(7.2)			(2.9)
Benefits paid related to settlement									—			—												(14.1)			—
Benefit obligation at end of year									$	125.9		$	81.2											$	123.8		$	76.0
Change in plan assets:
Fair value of plan assets at beginning of year									$	126.3		$	84.4											$	144.0		$	93.5
Actual return on plan assets									5.7			4.5												(2.9)			(9.1)
Foreign exchange impact									—			2.0												—			(1.6)
Employer contributions									0.1			1.7												7.2			4.5
Actual expenses paid									(0.6)			—												(0.7)			—
Benefits paid									(8.4)			(3.3)												(21.3)			(2.9)
Fair value of plan assets at end of year									$	123.1		$	89.3											$	126.3		$	84.4
Funded status:
Over (under) funded status at end of year									$	(2.8)		$	8.1											$	2.5		$	8.4
Components of the amounts recognized in the Consolidated Balance Sheets:
Current assets									$	—		$	—											$	—		$	—
Non-current assets									$	—		$	8.1											$	2.5		$	8.4
Current liabilities									$	—		$	—											$	—		$	—
Non-current liabilities									$	2.8		$	—											$	—		$	—
Components of the amounts recognized in Accumulated other comprehensive loss before the effect of income taxes:
Prior service cost									$	—		$	0.4											$	—		$	0.4
Unrecognized net actuarial loss (gain)									3.5			29.2												(4.4)			25.7
Accumulated other comprehensive loss (gain)									$	3.5		$	29.6											$	(4.4)		$	26.1

(1) In fiscal 2024 and 2023, the net actuarial loss (gain) includes amounts resulting from changes in actuarial assumptions utilized to calculate our benefit plan obligations such as the weighted-average discount rate.

Schedule of Net Benefit Costs

The following table is a summary of the annual cost of the Company's pension plans:

Components of Net Periodic Benefit Costs and Other Changes Recognized in Other Comprehensive Income (Loss):
(In millions)			2024									2023									2022
			Domestic			International						Domestic			International						Domestic			International
Interest cost			$	6.1		$	4.1					$	6.1		$	3.1					$	3.9		$	2.4
Expected return on plan assets			(9.1)			(5.0)						(8.3)			(4.7)						(7.3)			(5.1)
Expected administrative expenses			0.7			—						0.6			—						0.5			—
Settlement related expenses			—			—						(0.6)			—						(0.1)			—
Amortization of prior service cost			—			0.1						—			0.1						—			0.1
Amortization of net (gain) loss			(0.1)			—						(0.1)			2.2						—			4.5
Net periodic benefit (income) cost			$	(2.4)		$	(0.8)					$	(2.3)		$	0.7					$	(3.0)		$	1.9

Schedule of Amounts Recognized in Other Comprehensive Income (Loss)

Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income (Loss):
(In millions)			2024									2023
			Domestic			International						Domestic			International
Net actuarial loss (gain)			$	7.8		$	3.1					$	(2.2)		$	(12.4)
Net amortization			0.1			(0.1)						0.1			(2.3)
Settlement charge			—			—						0.6			—
Effect of exchange rates			—			0.7						—			(1.1)
Total recognized in other comprehensive loss			$	7.9		$	3.7					$	(1.5)		$	(15.8)

Schedule of Assumptions Used

The weighted-average actuarial assumptions used to determine the benefit obligation amounts and the net periodic benefit cost for the Company's pension plans are as follows:

Weighted-average assumptions used in the determination of net periodic benefit cost:
(Percentages)									2024															2023															2022
									Domestic			International												Domestic			International												Domestic			International
Discount rate(1)									5.17			5.34												varies			3.33												varies			1.99
Compensation increase rate									N/A			3.00												N/A			4.45												N/A			3.20
Expected return on plan assets									6.80			4.80												6.80			4.80												5.10			4.80
(1) Due to settlement activity during FYE 2023 in the domestic plan, there were two remeasurements as of 3/4/2023 and 6/3/2023. The discount rate for beginning of period in fiscal 2023 is 4.40% and 5.18%, respectively. Due to settlement activity during fiscal year 2022, there were four remeasurements as of 8/28/2021, 11/27/2021, 2/26/2022, and 5/28/2022. The discount rate for beginning of period in fiscal 2022 is 2.90%, 2.89%, 3.00%, and 3.52% respectively.
Weighted-average assumptions used in the determination of the projected benefit obligations:
Discount rate									5.10			5.18												5.17			5.34												4.40			3.33
Compensation increase rate									N/A			3.15												N/A			3.00												N/A			4.45

Schedule of Fair Value and Allocation of Plan Assets

The target asset allocation at the end of fiscal 2024 and asset categories for the Company's pension plans for fiscal 2024 and 2023 are as follows:

			Targeted Asset Allocation Percentage
Asset Category			2024												2023
			Domestic						International						Domestic						International
Fixed income			61%						76%						70%						33%
Cash			39%						1%						—%						—%
Common collective trusts			—%						23%						30%						67%
Total			100%						100%						100%						100%
			Percentage of Plan Assets at Year End
			2024												2023
			Domestic						International						Domestic						International
Fixed income			61%						69%						70%						38%
Cash			39%						9%						—%						—%
Common collective trusts			—%						22%						30%						62%
Total			100%						100%						100%						100%
									Domestic
(In millions)									June 1, 2024
Asset Category									Level 1						Level 2						Total
Cash and cash equivalents									$	47.5					$	—					$	47.5
U.S. government securities									—						10.0						10.0
Corporate bonds									—						65.6						65.6
Common collective trusts-balanced									—						—						—
Total									$	47.5					$	75.6					$	123.1
									International
(In millions)									June 1, 2024
Asset Category									Level 1						Level 2						Total
Cash and cash equivalents									$	8.3					$	—					$	8.3
Foreign government obligations									—						61.4						61.4
Common collective trusts-balanced									—						19.6						19.6
Total									$	8.3					$	81.0					$	89.3
									June 3, 2023
(In millions)									Domestic
Asset Category									Level 1						Level 2						Total
Cash and cash equivalents									$	2.1					$	—					$	2.1
U.S. government securities									—						17.5						17.5
Foreign government obligations									—						68.8						68.8
Common collective trusts-balanced									—						37.9						37.9
Total									$	2.1					$	124.2					$	126.3
									June 3, 2023
(In millions)									International
Asset Category									Level 1						Level 2						Total
Cash and cash equivalents									$	5.6					$	—					$	5.6
Foreign government obligations									—						26.1						26.1
Common collective trusts-balanced									—						52.7						52.7
Total									$	5.6					$	78.8					$	84.4

Schedule of Expected Benefit Payments

The following represents a summary of the benefits expected to be paid by the plans in future fiscal years including the projected disbursement required for the termination of the domestic plan. These expected benefits were estimated based on the same actuarial valuation assumptions used to determine benefit obligations at June 1, 2024.

(In millions)									Pension Benefits
									Domestic			International
2025									$	129.2		$	3.3
2026									$	—		$	3.1
2027									$	—		$	5.2
2028									$	—		$	4.0
2029									$	—		$	4.6
2030 - 2034									$	—		$	26.2

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Tabular disclosure of the major categories of plan assets of pension plans and/or other employee benefit plans. This information may include, but is not limited to, the target allocation of plan assets, the fair value of each major category of plan assets, and the level within the fair value hierarchy in which the fair value measurements fall.

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Tabular disclosure of the net gain (loss) and net prior service cost or credit recognized in other comprehensive income (loss) for the period for pension plans and/or other employee benefit plans, and reclassification adjustments of other comprehensive income (loss) for the period, as those amounts, including amortization of the net transition asset or obligation, are recognized as components of net periodic benefit cost.

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Tabular disclosure of assumption used to determine benefit obligation and net periodic benefit cost of defined benefit plan. Includes, but is not limited to, discount rate, rate of compensation increase, expected long-term rate of return on plan assets and interest crediting rate.

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