Discontinued Operations and Assets Held for Sale

3 Months Ended

Aug. 28, 2016

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations and Assets Held for Sale

Discontinued Operations and Assets Held for Sale

Discontinued Operations

Earnings (loss) from discontinued operations, net of taxes in our accompanying consolidated statements of earnings is primarily related to the Red Lobster disposition and is comprised of the following:

	Three Months Ended
(in millions)	August 28, 2016			August 30, 2015
Costs and expenses:
Restaurant and marketing expenses	$	0.2		$	0.3
Other income and expenses (1)	1.4			(8.8		)
Earnings (loss) before income taxes	(1.6		)	8.5
Income tax expense (benefit)	(0.7		)	3.1
Earnings (loss) from discontinued operations, net of tax	$	(0.9	)	$	5.4

(1) Amounts for the quarter ended August 30, 2015 include gains recognized upon satisfaction of landlord consents.

Assets Held For Sale

Assets classified as held for sale on our accompanying consolidated balance sheets as of August 28, 2016 and May 29, 2016, consisted of land, buildings and equipment with carrying amounts of $16.9 million and $20.3 million, respectively, primarily related to excess land parcels adjacent to our corporate headquarters.