Stock-Based Compensation (Tables)

12 Months Ended

May 27, 2018

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

Recognized Stock-Based Compensation Expense

Stock-based compensation expense and the associated income tax benefit included in continuing operations was as follows:

	Fiscal Year
(in millions)	2018		2017		2016
Stock options	$	4.6	$	6.0	$	7.8
Restricted stock/restricted stock units	3.9		1.9		1.6
Darden stock units	20.1		20.9		15.9
Cash-settled performance stock units	—		4.2		6.5
Equity-settled performance-based restricted stock units	11.7		5.3		2.7
Employee stock purchase plan	1.3		1.1		1.1
Director compensation program/other	1.2		1.3		1.7
Total	$	42.8	$	40.7	$	37.3
Income tax benefits (1)	$	12.0	$	—	$	—

(1) In accordance with the fiscal 2018 adoption of ASU 2016-09, excess tax benefits are recognized in our provision for income taxes rather than in equity as previously recognized.

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
	2018			2017			2016
Weighted-average fair value	$	14.63		$	9.08		$	12.72
Dividend yield	3.0		%	3.5		%	3.3		%
Expected volatility of stock	23.5		%	24.3		%	28.0		%
Risk-free interest rate	2.0		%	1.4		%	1.9		%
Expected option life (in years)	6.4			6.5			6.5
Weighted-average exercise price per share	$	85.83		$	59.70		$	64.85

Summary Of Stock Option Activity

The following table presents a summary of our stock option activity as of and for the year ended May 27, 2018:

	Options (in millions)	Weighted-Average Exercise Price Per Share	Weighted-Average Remaining Contractual Life (Yrs)	Aggregate Intrinsic Value (in millions)
Outstanding beginning of period	4.01	$45.81	6.09	$168.9
Options granted	0.35	85.83
Options exercised	(0.80)	40.07
Options canceled	(0.03)	66.15
Outstanding end of period	3.53	$50.92	5.89	$130.6
Exercisable	2.09	$41.87	4.53	$96.2

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 27, 2018:

	Shares (in millions)	Weighted-Average Grant Date Fair Value Per Share
Outstanding beginning of period	0.19	$57.44
Shares granted	0.11	87.09
Shares vested	(0.05)	51.72
Shares canceled	(0.01)	69.76
Outstanding end of period	0.24	$71.99

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 27, 2018:

(All units settled in cash)	Units (in millions)	Weighted-Average Fair Value Per Unit
Outstanding beginning of period	1.35	$87.95
Units granted	0.42	91.18
Units vested	(0.30)	85.76
Units canceled	(0.08)	63.58
Outstanding end of period	1.39	$87.88

Cash-settled performance stock units

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 27, 2018:

(All units settled in cash)	Units (in millions)	Weighted-Average Fair Value Per Unit
Outstanding beginning of period	0.09	$87.95
Units vested	(0.09)	83.85
Outstanding end of period	—	$—

Equity-settled performance-based restricted stock units

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 PRSU activity as of and for the fiscal year ended May 27, 2018:

	Units (in millions)	Weighted-Average Grant Date Fair Value Per Unit
Outstanding beginning of period	0.33	$62.40
Units granted	0.24	90.51
Units canceled	(0.02)	78.12
Outstanding end of period	0.55	$74.04