PENSION AND POSTRETIREMENT BENEFITS (Tables)
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12 Months Ended |
May 31, 2026 |
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| PENSION AND POSTRETIREMENT BENEFITS |
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| Schedule Of Changes in Projected Benefit Obligations |
| | | | | | | | | | | | | | | Pension Plans | | Postretirement Plans | | | 2026 | | 2025 | | 2026 | | 2025 | Change in Benefit Obligation | | | | | | | | | | | | | Benefit obligation at beginning of year | | $ | 1,693.8 | | $ | 2,574.7 | | $ | 48.3 | | $ | 48.1 | Service cost | | | 5.4 | | | 5.5 | | | 0.1 | | | 0.1 | Interest cost | | | 87.8 | | | 136.1 | | | 2.2 | | | 2.4 | Amendments | | | 1.5 | | | 0.1 | | | — | | | — | Actuarial loss (gain) | | | 66.5 | | | (148.6) | | | (0.4) | | | 4.4 | Plan settlements | | | (40.3) | | | (679.4) | | | — | | | — | Benefits paid | | | (138.9) | | | (194.6) | | | (5.9) | | | (6.7) | Benefit obligation at end of year | | $ | 1,675.8 | | $ | 1,693.8 | | $ | 44.3 | | $ | 48.3 | Change in Plan Assets | | | | | | | | | | | | | Fair value of plan assets at beginning of year | | $ | 1,946.8 | | $ | 2,738.9 | | $ | — | | $ | 3.7 | Actual return on plan assets | | | 173.5 | | | 70.0 | | | — | | | (3.7) | Employer contributions | | | 11.4 | | | 11.9 | | | 5.9 | | | 6.7 | Plan settlements | | | (40.3) | | | (679.4) | | | — | | | — | Benefits paid | | | (138.9) | | | (194.6) | | | (5.9) | | | (6.7) | Fair value of plan assets at end of year | | $ | 1,952.5 | | $ | 1,946.8 | | $ | — | | $ | — |
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| Schedule of Net Funded Status |
| | | | | | | | | | | | | | | Pension Plans | | Postretirement Plans | | | 2026 | | 2025 | | 2026 | | 2025 | Funded Status | | $ | 276.7 | | $ | 253.0 | | $ | (44.3) | | $ | (48.3) | Amounts Recognized in Consolidated Balance Sheets | | | | | | | | | | | | | Other assets | | $ | 359.5 | | $ | 342.8 | | $ | — | | $ | — | Other accrued liabilities | | | (8.5) | | | (9.4) | | | (6.1) | | | (6.6) | Other noncurrent liabilities | | | (74.3) | | | (80.4) | | | (38.2) | | | (41.7) | Net Amount Recognized | | $ | 276.7 | | $ | 253.0 | | $ | (44.3) | | $ | (48.3) | Amounts Recognized in Accumulated Other Comprehensive Income (Pre-tax) | | | | | | | | | | | | | Actuarial net gain | | $ | (24.6) | | $ | (49.6) | | $ | (29.9) | | $ | (33.1) | Net prior service cost (benefit) | | | 6.8 | | | 6.8 | | | (4.0) | | | (5.7) | Total | | $ | (17.8) | | $ | (42.8) | | $ | (33.9) | | $ | (38.8) | Weighted-Average Actuarial Assumptions Used to Determine Benefit Obligations at May 31, 2026 and May 25, 2025 | | | | | | | | | | | | | Discount rate | | | 5.65% | | | 5.91% | | | 5.32% | | | 5.43% | Long-term rate of compensation increase | | | N/A | | | N/A | | | N/A | | | N/A |
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| Schedule of Defined Benefit Plans Disclosures |
| | | | | | | | | 2026 | | 2025 | Projected benefit obligation | | $ | 82.7 | | $ | 89.8 | Accumulated benefit obligation | | | 82.7 | | | 89.8 |
| | | | | | | | | | | | | | | | | | | | | Pension Plans | | Postretirement Plans | | | 2026 | | 2025 | | 2024 | | 2026 | | 2025 | | 2024 | Service cost | | $ | 5.4 | | $ | 5.5 | | $ | 5.8 | | $ | 0.1 | | $ | 0.1 | | $ | 0.1 | Interest cost | | | 87.8 | | | 136.1 | | | 144.7 | | | 2.2 | | | 2.4 | | | 2.5 | Expected return on plan assets | | | (109.6) | | | (146.3) | | | (141.3) | | | — | | | — | | | — | Amortization of prior service cost (benefit) | | | 1.5 | | | 1.6 | | | 1.6 | | | (1.7) | | | (1.7) | | | (1.7) | Recognized net actuarial gain | | | (25.2) | | | (3.5) | | | (12.5) | | | (3.6) | | | (1.5) | | | (4.7) | Settlement loss (gain) | | | 2.7 | | | (13.0) | | | 1.1 | | | — | | | — | | | — | Pension and postretirement cost (benefit) — Company plans | | | (37.4) | | | (19.6) | | | (0.6) | | | (3.0) | | | (0.7) | | | (3.8) | Pension cost (benefit) — multi-employer plans | | | 9.1 | | | 9.5 | | | 9.0 | | | — | | | — | | | — | Total pension and postretirement cost (benefit) | | $ | (28.3) | | $ | (10.1) | | $ | 8.4 | | $ | (3.0) | | $ | (0.7) | | $ | (3.8) |
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| Schedule of Amounts Recognized in Other Comprehensive Income |
| | | | | | | | | | | | | | | Pension Plans | | Postretirement Plans | | | 2026 | | 2025 | | 2026 | | 2025 | Net actuarial gain (loss) | | $ | (2.5) | | $ | 72.3 | | $ | 0.4 | | $ | (8.2) | Amendments | | | (1.5) | | | (0.1) | | | — | | | — | Amortization of prior service cost (benefit) | | | 1.5 | | | 1.6 | | | (1.7) | | | (1.7) | Settlement loss (gain) | | | 2.7 | | | (13.0) | | | — | | | — | Recognized net actuarial gain | | | (25.2) | | | (3.5) | | | (3.6) | | | (1.5) | Net amount recognized | | $ | (25.0) | | $ | 57.3 | | $ | (4.9) | | $ | (11.4) |
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| Schedule of Defined Benefit Plan |
| | | | | | | | | | | | | | | | | | | | | Pension Plans | | Postretirement Plans | | | 2026 | | 2025 | | 2024 | | 2026 | | 2025 | | 2024 | Discount rate - interest cost | | | 5.41% | | | 5.51% | | | 5.41% | | | 4.97% | | | 5.38% | | | 5.36% | Discount rate - service cost | | | 6.17% | | | 5.72% | | | 5.60% | | | 5.53% | | | 5.22% | | | 5.31% | Long-term rate of return on plan assets | | | 5.89% | | | 5.53% | | | 5.00% | | | N/A | | | N/A | | | N/A | Long-term rate of compensation increase | | | N/A | | | N/A | | | N/A | | | N/A | | | N/A | | | N/A |
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| Schedule of Allocation of Plan Assets |
| | | | | | | | | | | | | | | Level 1 | | Level 2 | | Level 3 | | Total | Cash and cash equivalents | | $ | 8.6 | | $ | 83.3 | | $ | — | | $ | 91.9 | Equity securities: | | | | | | | | | | | | | U.S. equity securities | | | 87.7 | | | 9.5 | | | — | | | 97.2 | International equity securities | | | 45.0 | | | — | | | — | | | 45.0 | Fixed income securities: | | | | | | | | | | | | | Government bonds | | | — | | | 736.3 | | | — | | | 736.3 | Corporate bonds | | | — | | | 816.6 | | | — | | | 816.6 | Mortgage-backed bonds | | | — | | | 81.5 | | | — | | | 81.5 | Net payables for unsettled transactions | | | (60.7) | | | — | | | — | | | (60.7) | Fair value measurement of pension plan assets in the fair value hierarchy | | $ | 80.6 | | $ | 1,727.2 | | $ | — | | $ | 1,807.8 | Investments measured at net asset value | | | | | | | | | | | | 144.7 | Total pension plan assets | | | | | | | | | | | $ | 1,952.5 |
| | | | | | | | | | | | | | | Level 1 | | Level 2 | | Level 3 | | Total | Cash and cash equivalents | | $ | (0.3) | | $ | 93.4 | | $ | — | | $ | 93.1 | Equity securities: | | | | | | | | | | | | | U.S. equity securities | | | 73.6 | | | 25.3 | | | — | | | 98.9 | International equity securities | | | 38.3 | | | — | | | — | | | 38.3 | Fixed income securities: | | | | | | | | | | | | | Government bonds | | | — | | | 373.5 | | | — | | | 373.5 | Corporate bonds | | | — | | | 1,145.9 | | | — | | | 1,145.9 | Mortgage-backed bonds | | | — | | | 78.0 | | | — | | | 78.0 | Net payables for unsettled transactions | | | (43.0) | | | — | | | — | | | (43.0) | Fair value measurement of pension plan assets in the fair value hierarchy | | $ | 68.6 | | $ | 1,716.1 | | $ | — | | $ | 1,784.7 | Investments measured at net asset value | | | | | | | | | | | | 162.1 | Total pension plan assets | | | | | | | | | | | $ | 1,946.8 |
| | | | | | | | | May 31, 2026 | | | May 25, 2025 | Equity securities | | | 8% | | | 7% | Debt securities | | | 82% | | | 81% | Real estate funds | | | 1% | | | 1% | Private equity | | | 3% | | | 4% | Other | | | 6% | | | 7% | Total | | | 100% | | | 100% |
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| Schedule of Health Care Cost Trend Rates |
| | | | | | | Assumed Health Care Cost Trend Rates at: | | | May 31, 2026 | | | May 25, 2025 | Initial health care cost trend rate | | | 6.82% | | | 6.67% | Ultimate health care cost trend rate | | | 4.00% | | | 4.42% | Year that the rate reaches the ultimate trend rate | | | 2050 | | | 2033 |
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| Schedule of Expected Benefit Payments |
| | | | | | | | | Pension | | Postretirement | | | Plans | | Plans | 2027 | | $ | 133.8 | | $ | 6.1 | 2028 | | | 125.4 | | | 5.5 | 2029 | | | 126.2 | | | 5.0 | 2030 | | | 126.8 | | | 4.6 | 2031 | | | 127.0 | | | 4.2 | Succeeding 5 years | | | 628.5 | | | 16.1 |
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| Schedule of Multiemployer Plan |
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| | | | | | Expiration | | | | | | | Pension Protection | | | FIP / | | | Contributions by the | | | | | | Dates of | | | | | | | Act Zone Status | | | RP Status | | | Company (millions) | | | | | | Collective | | | | | | | | | | | | | Pending / | | | | | | | | | | | | | | | Surcharge | | | Bargaining | Pension Fund | | | EIN / PN | | | 2025 | | | 2024 | | | Implemented | | | FY26 | | | FY25 | | | FY24 | | | Imposed | | | Agreements | Central States, Southeast and Southwest Areas Pension Fund | | | 36-6044243/ 001 | | | Red, Critical and Declining | | | Red, Critical and Declining | | | RP Implemented | | | | 2.5 | | | | 2.5 | | | | 2.4 | | | No | | | 5/31/2029 | Western Conference of Teamsters Pension Plan | | | 91-6145047/ 001 | | | Green | | | Green | | | N/A | | | | 4.5 | | | | 4.7 | | | | 4.3 | | | No | | | 4/30/2028 | Other Plans | | | | | | | | | | | | | | | | 2.1 | | | | 2.3 | | | | 2.3 | | | | | | | Total Contributions | | | | | | | | | | | | | | | $ | 9.1 | | | $ | 9.5 | | | $ | 9.0 | | | | | | |
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