v3.26.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Feb. 22, 2026
Feb. 23, 2025
Cash flows from operating activities    
Net income $ 180.4 $ 237.3
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization of intangibles and debt issuance costs 291.8 279.8
Stock-settled, stock-based compensation expense 30.6 31.0
Equity method investment (earnings) loss, net of distributions (2.5) 10.1
Deferred income taxes 15.1 (3.1)
Cost Savings Program and Restructuring expenses 46.4 49.2
Blue chip swap transaction gains 0.0 (20.5)
Other (8.0) (10.3)
Changes in operating assets and liabilities:    
Receivables 53.6 18.1
Inventories (45.2) (120.6)
Income taxes payable/receivable, net (1.7) (0.2)
Prepaid expenses and other current assets (13.8) (17.9)
Accounts payable (8.1) 45.4
Accrued liabilities 57.0 (13.0)
Net cash provided by operating activities 595.6 485.3
Cash flows from investing activities    
Additions to property, plant and equipment (256.5) (550.4)
Additions to other long-term assets (0.1) (33.2)
Proceeds from sale of property, plant and equipment 14.9 1.8
Proceeds from blue chip swap transactions, net of purchases 0.0 20.5
Other 3.7 2.3
Net cash used for investing activities (238.0) (559.0)
Cash flows from financing activities    
Proceeds from short-term borrowings 753.8 1,286.9
Repayments of short-term borrowings (862.6) (1,124.7)
Proceeds from issuance of debt 0.0 525.3
Repayments of debt and financing obligations (54.9) (255.5)
Dividends paid (154.7) (154.7)
Repurchase of common stock and common stock withheld to cover taxes (59.2) (193.8)
Other 3.5 (14.1)
Net cash (used for) provided by financing activities (374.1) 69.4
Effect of exchange rate changes on cash and cash equivalents 3.3 0.4
Net decrease in cash and cash equivalents (13.2) (3.9)
Cash and cash equivalents, beginning of period 70.7 71.4
Cash and cash equivalents, end of period $ 57.5 $ 67.5