Annual report pursuant to Section 13 and 15(d)

Short-term Financing (Narrative) (Details)

v3.21.2
Short-term Financing (Narrative) (Details) - USD ($)
$ in Millions
 12 Months Ended
Jun. 01, 2021
Mar. 17, 2016
May 31, 2021
May 31, 2020
Revolving Credit Facility [Member]        
Financing [Line Items]        
Maximum borrowing capacity     $ 1,700.0  
Revolving Credit Facility [Member] | JPM $1 Billion Credit Facility [Member] | JP Morgan Chase Bank, N.A. [Member]        
Financing [Line Items]        
Maximum borrowing capacity [1]     $ 1,000.0  
Expiration date [1]     Jul. 31, 2024  
Revolving Credit Facility [Member] | JPM $500 Million Credit Facility [Member] | JP Morgan Chase Bank, N.A. [Member]        
Financing [Line Items]        
Maximum borrowing capacity [1]     $ 500.0  
Expiration date [1]     Aug. 17, 2022  
Revolving Credit Facility [Member] | PNC $250 Million Credit Facility [Member] | PNC Bank, National Association [Member]        
Financing [Line Items]        
Maximum borrowing capacity [2]     $ 250.0  
Expiration date [2]     Feb. 06, 2023  
Weighted-average interest rate     1.16%  
Revolving Credit Facility [Member] | PNC $150 Million Credit Facility [Member] | PNC Bank, National Association [Member]        
Financing [Line Items]        
Maximum borrowing capacity   $ 150.0    
Term   4 years    
Expiration date   Feb. 06, 2020    
Standby Letters of Credit [Member]        
Financing [Line Items]        
Maximum borrowing capacity     $ 180.4 $ 147.9
Expiration date     Jun. 26, 2021  
Amounts outstanding     $ 0.0 $ 0.0
Standby Letters of Credit [Member] | Subsequent Event [Member]        
Financing [Line Items]        
Expiration date Jun. 26, 2022      
Letter of credit cancelled $ 41.2      
Minimum [Member] | Revolving Credit Facility [Member]        
Financing [Line Items]        
Commitment fee, percentage     0.05%  
Minimum [Member] | Standby Letters of Credit [Member]        
Financing [Line Items]        
Expiration date     Jun. 26, 2021  
Maximum [Member] | Revolving Credit Facility [Member]        
Financing [Line Items]        
Commitment fee, percentage     0.15%  
Maximum [Member] | Standby Letters of Credit [Member]        
Financing [Line Items]        
Expiration date     Jul. 15, 2022  
[1]

Maximum

Amount Outstanding

Amount

May 31,

$ in millions

Expiration Date

Available

2021

2020

Credit facilities:

JP Morgan Chase Bank, N.A. ("JPM") (1)

July 31, 2024

$

1,000.0

$

—

$

—

JPM (1)

August 17, 2022

$

500.0

—

—

PNC Bank, National Association (“PNC”) (weighted-average interest rate of 1.16% at May 31, 2021 (2)

February 6, 2023

$

250.0

7.4

5.1

Outstanding short-term financing (3)

$

7.4

$

5.1

(1)JPM acts as the administrative agent for this syndicated credit facility.
[2] This agreement replaced the Company’s predecessor four year unsecured $150.0 million credit facility dated March 17, 2016, which was terminated on February 6, 2020.