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      "text": "(b) Unrealized derivative gains and losses related to mark-to-market adjustments associated with changes in natural gas, electricity, edible oil, and other commodity derivatives.",
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      "text": "(a) In connection with the purchase of the remaining equity interest in LW EMEA, under US GAAP, we are required to value inventory acquired at fair value. This reduced the profit on the sale of the acquired inventory to that portion attributable to the selling and production effort.",
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      "text": "Fiscal Years Ended\nMay 28, 2017\nMay 27, 2018\nMay 26, 2019\nMay 31, 2020\nMay 30, 2021\nMay 29, 2022\nMay 28, 2023\nNet sales\n$3,168.0\n$3,423.7\n$3,756.5\n$3,792.4\n$3,670.9\n$4,098.9\n$5,350.6\nCost of sales\n2,389.2\n2,544.2\n2,753.0\n2,897.2\n2,838.9\n3,266.9\n3,918.5\nGross profit\n778.8\n879.5\n1,003.5\n895.2\n832.0\n832.0\n1,432.1\nGross Margin %\n24.6%\n25.7%\n26.7%\n23.6%\n22.7%\n20.3%\n26.8%\nItem impacting comparability\nInventory step-up (a)\n—\n—\n—\n—\n—\n—\n27.0\nUnrealized derivative losses (b)\n—\n—\n—\n—\n(19.9)\n8.2\n37.5\nAdjusted gross profit\n778.8\n879.5\n1,003.5\n895.2\n812.1\n840.2\n1,496.6\nAdjusted gross margin\n24.6%\n25.7%\n26.7%\n23.6%\n22.1%\n20.5%\n28.0%",
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