Stock-Based Compensation (Tables)

12 Months Ended

May 28, 2017

Schedule of Share-based Compensation Arrangements by Share-based Payment Award [Line Items]

Recognized Stock-Based Compensation Expense

Stock-based compensation expense included in continuing operations was as follows:

	Fiscal Year
(in millions)	2017		2016		2015
Stock options (1)	$	6.0	$	7.8	$	20.9
Restricted stock/restricted stock units	1.9		1.6		2.0
Darden stock units	20.9		15.9		13.3
Cash-settled performance stock units (2)	4.2		6.5		14.5
Equity-settled performance stock units	5.3		2.7		—
Employee stock purchase plan	1.1		1.1		1.3
Director compensation program/other	1.3		1.7		1.7
Total	$	40.7	$	37.3	$	53.7

(1) The higher expense in fiscal 2015 is primarily attributable to the workforce reduction efforts and a change in mix of equity awards granted.

(2) The higher expense in fiscal 2015 is primarily attributable to the workforce reduction efforts and the impact of improved financial performance.

Stock-Based Compensation

The weighted-average fair value of non-qualified stock options and the related assumptions used in the Black-Scholes model to record stock-based compensation are as follows:

	Stock Options Granted in Fiscal Year
	2017			2016			2015
Weighted-average fair value	$	9.08		$	12.72		$	9.41
Dividend yield	3.5		%	3.3		%	4.5		%
Expected volatility of stock	24.3		%	28.0		%	37.3		%
Risk-free interest rate	1.4		%	1.9		%	2.1		%
Expected option life (in years)	6.5			6.5			6.5
Weighted-average exercise price per share	$	59.70		$	64.85		$	40.43

Summary Of Stock Option Activity

The following table presents a summary of our stock option activity as of and for the year ended May 28, 2017:

	Options (in millions)	Weighted-Average Exercise Price Per Share	Weighted-Average Remaining Contractual Life (Yrs)	Aggregate Intrinsic Value (in millions)
Outstanding beginning of period	6.32	$42.04	6.00	$160.6
Options granted	0.58	59.70
Options exercised	(2.72)	39.67
Options canceled	(0.17)	51.57
Outstanding end of period	4.01	$45.81	6.09	$168.9
Exercisable	2.47	$41.29	4.91	$115.5

Summary Of Restricted Stock And RSU Activity

The following table presents a summary of our restricted stock and RSU activity as of and for the fiscal year ended May 28, 2017:

	Shares (in millions)	Weighted-Average Grant Date Fair Value Per Share
Outstanding beginning of period	0.11	$55.46
Shares granted	0.12	57.64
Shares vested	(0.03)	52.30
Shares canceled	(0.01)	53.26
Outstanding end of period	0.19	$57.44

Summary Of Darden Stock Unit Activity

The following table presents a summary of our Darden stock unit activity as of and for the fiscal year ended May 28, 2017:

(All units settled in cash)	Units (in millions)	Weighted-Average Fair Value Per Unit
Outstanding beginning of period	1.43	$67.48
Units granted	0.31	59.66
Units vested	(0.29)	63.15
Units canceled	(0.10)	51.19
Outstanding end of period	1.35	$87.95

Performance Stock Units, Cash Settled

Schedule of Share-based Compensation Arrangements by Share-based Payment Award [Line Items]

Summary Of Performance Stock Unit Activity

The following table presents a summary of our cash-settled performance stock unit activity as of and for the fiscal year ended May 28, 2017:

(All units settled in cash)	Units (in millions)	Weighted-Average Fair Value Per Unit
Outstanding beginning of period	0.21	$67.48
Units vested	(0.11)	61.51
Units canceled	(0.03)	42.19
Performance unit adjustment	0.02	40.47
Outstanding end of period	0.09	$87.95

Performance Stock Units, Equity Settled

Schedule of Share-based Compensation Arrangements by Share-based Payment Award [Line Items]

Summary Of Performance Stock Unit Activity

The following table presents a summary of our equity-settled performance stock unit activity as of and for the fiscal year ended May 28, 2017:

	Units (in millions)	Weighted-Average Grant Date Fair Value Per Unit
Outstanding beginning of period	0.17	$65.21
Units granted	0.19	60.05
Units canceled	(0.03)	63.84
Outstanding end of period	0.33	$62.40