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Goodwill and Indefinite-Lived Intangibles | 6 Months Ended
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Nov. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Indefinite-Lived Intangibles | Goodwill and Indefinite-Lived Intangibles Changes in the carrying amount of Goodwill, by reportable segment, were as follows:
(In millions) | Americas Contract(1) |  | International Contract & Specialty |  | Global Retail(2) |  | Total
Balance at June 1, 2024 | $ | 530.1 |  |  | $ | 304.4 |  |  | $ | 391.8 |  |  | $ | 1,226.3 |
Foreign currency translation adjustments | (2.4) |  |  | (2.6) |  |  | (3.1) |  |  | (8.1) |
Balance at November 30, 2024 | $ | 527.7 |  |  | $ | 301.8 |  |  | $ | 388.7 |  |  | $ | 1,218.2 |
(1) Americas Contract segment had accumulated goodwill impairments of $36.7 million as of November 30, 2024, and June 1, 2024. (2) Global Retail segment had accumulated goodwill impairments of $88.8 million as of November 30, 2024, and June 1, 2024. Other indefinite-lived assets included in the Consolidated Balance Sheets consist of the following:
(In millions) |  | Indefinite-lived Intangible Assets
June 1, 2024 |  | $ | 465.5 |
Foreign currency translation adjustments |  | (3.0) |
November 30, 2024 |  | $ | 462.5 |
Goodwill is tested for impairment at the reporting unit level annually, or more frequently when events or changes in circumstances indicate that the fair value of a reporting unit has more likely than not declined below its carrying value. When testing goodwill for impairment, the Company may first assess qualitative factors. If an initial qualitative assessment identifies that it is more likely than not that the carrying value of a reporting unit exceeds its estimated fair value, additional quantitative testing is performed. The Company may also elect to bypass the qualitative testing and proceed directly to the quantitative testing. If the quantitative testing indicates that goodwill is impaired, the carrying value of goodwill is written down to fair value. Each of the reporting units, other than the Global Retail reporting unit, was reviewed for impairment using a qualitative assessment as of March 31, 2024, our annual testing date. The Global Retail reporting unit was reviewed for impairment using a quantitative assessment as of March 31, 2024. In performing the qualitative and quantitative impairment tests for fiscal year 2024, the Company determined that the fair value of its reporting units exceeded the carrying amount and, as such, these reporting units were not impaired. During the second quarter of fiscal year 2025, the Company performed an assessment to determine whether there were indicators of a triggering event which could indicate the carrying amount of the reporting units may not be supported by the fair value. No indicators of a triggering event for potential impairment were noted in the second quarter of fiscal 2025. The Company generally uses the discounted cash flow method under a weighting of the income and market approach to estimate the fair value of our reporting units. These approaches are based on a discounted cash flow analysis and observable comparable company information that use several inputs, including: •actual and forecasted revenue growth rates and operating margins, •discount rates based on the reporting unit's weighted average cost of capital, and •revenue and EBITDA of comparable companies. The Company selected the assumptions used in the financial forecasts using historical data, supplemented by current and anticipated market conditions, management’s long-term strategic plans, and guideline companies. Intangible assets with indefinite useful lives are not subject to amortization and are evaluated annually for impairment, or more frequently when events or changes in circumstances indicate that the fair value of an intangible asset may not be recoverable. Management has not identified any events or changes in circumstances that may indicate an indefinite-lived intangible is more likely than not to be impaired as of the second quarter of fiscal year 2025.

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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