Restructuring, Transformation, Impairment, and Other Exit Costs |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Aug. 30, 2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Restructuring and Related Activities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Restructuring, Transformation, Impairment, and Other Exit Costs | Restructuring, Transformation, Impairment, and Other Exit Costs Restructuring, transformation, and impairment charges were as follows:
In the first quarter of fiscal 2027, we recorded an additional $23.7 million non-cash pre-tax valuation loss related to the planned divestiture of our Brazil business. Please see Note 2 for additional information. In the first quarter of fiscal 2027, we did not undertake any new restructuring or transformation actions. We recorded $0.2 million of restructuring and transformation charges in the first quarter of fiscal 2027 and $18.3 million of restructuring and transformation charges in the first quarter of fiscal 2026 related to actions previously announced. We expect these actions to be completed by the end of fiscal 2030. We paid net $2.9 million of cash in the first quarter of fiscal 2027 related to restructuring and transformation actions. We paid net $21.0 million of cash in the same period of fiscal 2026. Restructuring, transformation, and impairment charges are recorded in our Consolidated Statements of Earnings as follows:
The roll forward of our restructuring, transformation, and other exit cost reserves, included in other current liabilities, is as follows:
The restructuring, transformation, and other exit cost reserves balance as of August 30, 2026, is primarily related to severance costs. The charges recognized in the roll forward of our reserves for restructuring, transformation, and other exit costs do not include items charged directly to expense (e.g., asset write-offs, asset impairment charges, and the gain or loss on the sale of restructured assets) and other periodic exit costs recognized as incurred, as those items are not reflected in our restructuring, transformation, and other exit cost reserves on our Consolidated Balance Sheets.
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