v3.24.3
DEBT AND FINANCING OBLIGATIONS (Tables)
 3 Months Ended
Aug. 25, 2024
Debt Disclosure [Abstract]  
Schedule of Debt, Including Financing Obligations
The components of our debt, including financing obligations, were as follows:
(in millions)August 25, 2024May 26, 2024
AmountInterest RateAmountInterest Rate
Short-term borrowings:
Global revolving credit facility$490.6 6.620 %$291.3 6.580 %
Other credit facilities (a)39.8 35.0 
530.4 326.3 
Long-term debt:
Term A-1 loan facility, due June 2026 (b)225.0 7.290 228.8 7.240 
Term A-3 loan facility, due January 2030 (b)421.9 7.440 427.5 7.390 
Term A-4 loan facility, due May 2029 (b)325.0 6.540 325.0 6.540 
RMB loan facility, due February 2027147.6 4.240 142.2 4.450 
Euro term loan facility, due May 2029223.8 5.030 216.9 5.080 
4.875% senior notes, due May 2028500.0 4.875 500.0 4.875 
4.125% senior notes, due January 2030970.0 4.125 970.0 4.125 
4.375% senior notes, due January 2032700.0 4.375 700.0 4.375 
3,513.3 3,510.4 
Financing obligations:
Lease financing obligations due on various dates through 20405.2 5.7 
Total debt and financing obligations4,048.9 3,842.4 
Debt issuance costs (c)(18.0)(19.0)
Short-term borrowings(530.4)(326.3)
Current portion of long-term debt and financing obligations(63.2)(56.4)
Long-term debt and financing obligations, excluding current portion$3,437.3 $3,440.7 
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(a)Other credit facilities consist of short-term facilities at our subsidiaries used for working capital purposes. Borrowings under these facilities bear interest at various rates.
(b)The interest rates applicable to the Term A-1, A-3, and A-4 loans do not include anticipated patronage dividends. We have received and expect to continue receiving patronage dividends under all three term loan facilities.
(c)Excludes debt issuance costs of $4.7 million and $4.9 million as of August 25, 2024 and May 26, 2024, respectively, related to our Global revolving credit facility, which are recorded in “Other assets” on our Consolidated Balance Sheets.