v3.26.1
Consolidated Statement of Cash Flows - USD ($)
$ in Millions
12 Months Ended
May 30, 2026
May 31, 2025
Jun. 01, 2024
Cash Flows from Operating Activities:      
Net earnings (loss) $ 95.7 $ (33.2) $ 84.6
Adjustments to reconcile net earnings (loss) to net cash provided by operating activities:      
Depreciation expense 110.3 102.6 117.5
Amortization expense 38.0 37.9 37.6
Deferred taxes (11.6) (45.0) (38.8)
Pension contributions (0.9) (0.3) (1.8)
Loss on extinguishment of debt 8.0 0.0 0.0
Impairment charges 0.0 130.0 16.8
Restructuring expenses 1.9 14.8 30.8
Stock-based compensation 26.0 31.8 20.7
Amortization of deferred financing costs 2.7 4.6 4.6
Bad debt expense 1.6 5.1 3.3
Operating leases (4.3) 4.7 (4.3)
(Increase) decrease in long-term assets (0.6) 2.0 2.4
Changes in current assets and liabilities:      
Decrease (increase) in accounts receivable & unbilled accounts receivable 1.2 (41.9) 35.2
(Increase) decrease in inventories (37.5) (16.9) 59.0
(Increase) decrease in prepaid expenses and other (13.9) (13.9) 25.6
Increase (decrease) in accounts payable 1.7 26.7 (28.9)
(Decrease) increase in accrued liabilities (14.0) 1.0 (7.5)
Other, net (4.4) (0.7) (4.5)
Net Cash Provided by Operating Activities 199.9 209.3 352.3
Cash Flows from Investing Activities:      
Advances of notes receivable 0.0 (3.3) (14.7)
Collection of notes receivable 6.9 6.8 2.8
Capital expenditures (122.3) (107.6) (78.4)
Proceeds from sale of property 0.2 6.5 0.0
Proceeds from the sale of equity method investment 0.0 0.0 3.5
Other, net (0.4) (3.3) 0.5
Net Cash Used in Investing Activities (115.6) (100.9) (86.3)
Cash Flows from Financing Activities:      
Proceeds from issuance of debt, net of discounts 561.8 123.1 0.0
Payments of deferred financing costs (2.2) (0.3) 0.0
Repayments of long-term debt (631.3) (75.7) (31.3)
Proceeds from credit facility 1,107.5 1,101.8 833.2
Repayments of credit facility (1,129.1) (1,163.5) (869.9)
Proceeds from securitization facility 113.1 0.0 0.0
Repayments to securitization facility (70.2) 0.0 0.0
Dividends paid (51.1) (51.7) (55.6)
Common stock issued 4.5 6.0 5.9
Common stock repurchases and payments for taxes related to net share settlement of equity awards (16.3) (84.9) (138.2)
Distribution to noncontrolling interest (3.1) (4.4) (2.8)
Other, net (0.6) (0.7) (0.1)
Net Cash Used in Financing Activities (117.0) (150.3) (258.8)
Effect of exchange rate changes on cash and cash equivalents 6.7 5.2 (0.3)
Net (Decrease) Increase In Cash and Cash Equivalents (26.0) (36.7) 6.9
Cash and cash equivalents, Beginning of Year 193.7 230.4 223.5
Cash and Cash Equivalents, End of Year $ 167.7 $ 193.7 $ 230.4