v3.25.4

Fair Value Measurements (Tables)

6 Months Ended

Nov. 29, 2025

Fair Value Disclosures [Abstract]

Schedule of Carrying Value and Fair Value of Long-Term Debt, Including Current Maturities

The carrying value and fair value of the Company's long-term debt, including current maturities, is as follows for the periods indicated:

(In millions)			November 29, 2025						May 31, 2025
Carrying value			$	1,350.2					$	1,337.0
Fair value			$	1,295.6					$	1,330.7

Schedule of Financial Assets and Liabilities Measured at Fair Value Classified Within Fair Value Hierarchy

The following table sets forth financial assets and liabilities measured at fair value through net income and the respective pricing levels to which the fair value measurements are classified within the fair value hierarchy as of November 29, 2025, and May 31, 2025.

(In millions)			November 29, 2025															May 31, 2025
Financial Assets			NAV									Quoted prices with other observable inputs (Level 2)						NAV									Quoted prices with other observable inputs (Level 2)
Cash equivalents:
Money market funds			$	2.9								$	—					$	10.8								$	—
Other current assets:
Foreign currency forward contracts			—									1.0						—									0.8
Other noncurrent assets:
Deferred compensation plan			—									26.1						—									22.0
Total			$	2.9								$	27.1					$	10.8								$	22.8
Financial Liabilities
Other accrued liabilities:
Foreign currency forward contracts			$	—								$	1.0					$	—								$	0.2
Total			$	—								$	1.0					$	—								$	0.2

The following table sets forth financial assets and liabilities measured at fair value through other comprehensive income and the respective pricing levels to which the fair value measurements are classified within the fair value hierarchy as of November 29, 2025, and May 31, 2025.

(In millions)						November 29, 2025						May 31, 2025
Financial Assets			Balance Sheet Location			Quoted Prices with Other Observable Inputs (Level 2)						Quoted Prices with Other Observable Inputs (Level 2)
Interest rate swap agreement			Other noncurrent assets			$	17.3					$	28.1
Total						$	17.3					$	28.1
Financial Liabilities
Interest rate swap agreement			Other liabilities			$	3.2					$	2.0
Total						$	3.2					$	2.0

Schedule of Interest Rate Swap

(In millions)			Notional Amount						Forward Start Date						Termination Date						Effective Fixed Interest Rate
September 2016 Interest Rate Swap			$	150.0					January 3, 2018						January 3, 2028						1.910		%
June 2017 Interest Rate Swap			$	75.0					January 3, 2018						January 3, 2028						2.348		%
January 2022 Interest Rate Swap			$	575.0					January 31, 2022						January 29, 2027						1.650		%
March 2023 Interest Rate Swap			$	150.0					March 3, 2023						January 3, 2029						3.950		%

The following table summarizes the effects of the interest rate swap agreements for the three and six months ended:

			Three Months Ended												Six Months Ended
(In millions)			November 29, 2025						November 30, 2024						November 29, 2025						November 30, 2024
(Loss) gain recognized in Other comprehensive loss (income) (effective portion)			$	(3.2)					$	3.6					$	(9.0)					$	(17.7)
Gain reclassified from Accumulated other comprehensive loss into earnings			$	4.9					$	6.8					$	10.3					$	14.5

Schedule of Changes in Redeemable Noncontrolling Interests

Changes in the Company's redeemable noncontrolling interest in HAY for the six months ended November 29, 2025, and November 30, 2024, are as follows:

(In millions)			November 29, 2025						November 30, 2024
Beginning Balance			$	59.3					$	73.9
Net income attributable to redeemable noncontrolling interests			1.9						1.8
Cumulative translation adjustments attributable to redeemable noncontrolling interests			0.7						(0.4)
Foreign currency translation adjustments			1.2						(1.9)
Ending Balance			$	63.1					$	73.4

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Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

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Tabular disclosure of redeemable noncontrolling interest (as defined) included in the statement of financial position as either a liability or temporary equity. As of the date of the statement of financial position, such redeemable noncontrolling interest is currently redeemable, as defined, for cash or other assets of the entity at (1) at a fixed or determinable price on a fixed or determinable date, (2) at the option of the holder of the noncontrolling interest, or (3) upon occurrence of an event that is not solely within the control of the entity.

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