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Stock-Based Compensation
 6 Months Ended
Nov. 24, 2013
Share-based Compensation [Abstract]  
Stock-Based Compensation
Stock-Based Compensation
We grant stock options for a fixed number of shares to certain employees and directors with an exercise price equal to the fair value of the shares at the date of grant. We also grant restricted stock, restricted stock units, and performance stock units with a fair value determined based on our closing stock price on the date of grant. In addition, we also grant cash settled stock units (Darden Stock Units) and cash settled performance stock units, which are classified as liabilities and are marked to market as of the end of each period. The weighted-average fair value of non-qualified stock options and the related assumptions used in the Black-Scholes option pricing model were as follows: 
 
Stock Options Granted
During the Six Months Ended
 
November 24, 2013
 
November 25, 2012
Weighted-average fair value
$
12.05

 
$
12.24

Dividend yield
4.4
%
 
4.0
%
Expected volatility of stock
39.6
%
 
39.7
%
Risk-free interest rate
1.9
%
 
0.8
%
Expected option life (in years)
6.4

 
6.5


 
The following table presents a summary of our stock-based compensation activity for the six months ended November 24, 2013: 
(in millions)
 
Stock
Options
 
Restricted
Stock/
Restricted
Stock
Units
 
Darden
Stock
Units
 
Performance
Stock Units
Outstanding beginning of period
 
11.6

 
0.2

 
2.2

 
0.9

Awards granted
 
1.7

 
0.1

 
0.6

 
0.3

Awards exercised
 
(0.8
)
 
(0.1
)
 
(0.4
)
 
(0.2
)
Awards forfeited
 
(0.1
)
 
—

 
(0.1
)
 
(0.2
)
Outstanding end of period
 
12.4

 
0.2

 
2.3

 
0.8


We recognized expense from stock-based compensation as follows: 
 
 
Three Months Ended
 
Six Months Ended
(in millions)
 
November 24,
2013
 
November 25,
2012
 
November 24,
2013
 
November 25,
2012
Stock options (1)
 
$
7.8

 
$
4.7

 
$
12.5

 
$
9.5

Restricted stock/restricted stock units
 
0.4

 
0.8

 
0.9

 
1.4

Darden stock units
 
7.6

 
5.7

 
11.0

 
10.5

Performance stock units (1)
 
2.3

 
1.5

 
4.3

 
5.2

Employee stock purchase plan
 
0.4

 
0.5

 
0.9

 
0.9

Director compensation program/other
 
1.7

 
1.1

 
1.7

 
1.2

Total stock-based compensation expense
 
$
20.2

 
$
14.3

 
$
31.3

 
$
28.7


(1)
The increase for the three months ended November 24, 2013 is primarily attributable to the workforce reduction efforts further discussed in Note 11.