v3.26.3
Fair Value Measurements (Tables)
 3 Months Ended
Aug. 29, 2026
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 total debt is as follows for the periods indicated:
(In millions)
August 29, 2026
May 30, 2026
Carrying value
$
1,307.4 
$
1,294.6 
Fair value
$
1,317.5 
$
1,294.7 
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 August 29, 2026, and May 30, 2026.
(In millions)
August 29, 2026
May 30, 2026
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
$
5.5 
$
— 
$
8.4 
$
— 
Other current assets:
Foreign currency forward contracts
— 
0.4 
— 
0.5 
Other noncurrent assets:
Deferred compensation plan
— 
29.0 
— 
27.3 
Total
$
5.5 
$
29.4 
$
8.4 
$
27.8 
Financial Liabilities
Other accrued liabilities:
Foreign currency forward contracts
$
— 
$
0.5 
$
— 
$
0.7 
Total
$
— 
$
0.5 
$
— 
$
0.7 
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 August 29, 2026, and May 30, 2026.
(In millions)
August 29, 2026
May 30, 2026
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
$
16.8 
$
16.7 
Total
$
16.8 
$
16.7 
Financial Liabilities
Interest rate swap agreement
Other liabilities
$
— 
$
0.5 
Total
$
— 
$
0.5 
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 
%
February 2026 Interest Rate Swap
$
200.0 
January 29, 2027
January 31, 2030
3.380 
%
The following table summarizes the effects of the interest rate swap agreements for the three months ended:
Three Months Ended
(In millions)
August 29, 2026
August 30, 2025
Gain (loss) recognized in Other comprehensive income (loss) (effective portion)
$
0.2 
$
(5.8)
Gain reclassified from Accumulated other comprehensive loss into earnings
$
3.8 
$
5.4 
Schedule of Changes in Redeemable Noncontrolling Interests
Changes in the Company's redeemable noncontrolling interest in HAY for the three months ended August 29, 2026, and August 30, 2025, are as follows:
(In millions)
August 29, 2026
August 30, 2025
Beginning Balance
$
63.3 
$
59.3 
Net income attributable to redeemable noncontrolling interests
1.0 
0.9 
Cumulative translation adjustments attributable to redeemable noncontrolling interests
(0.1)
1.0 
Foreign currency translation adjustments
(0.4)
1.7 
Ending Balance
$
63.8 
$
62.9