Discontinued Operations and Assets Held for Sale

12 Months Ended

May 26, 2019

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations and Assets Held for Sale

DISCONTINUED OPERATIONS AND ASSETS HELD FOR SALE

Discontinued Operations

Losses from discontinued operations, net of taxes in our accompanying consolidated statements of earnings is primarily related to the run-off of retained rights and obligations from the Red Lobster disposition and is comprised of the following:

	Fiscal Year Ended
(in millions)	May 26, 2019			May 27, 2018			May 28, 2017
Costs and expenses:
Restaurant and marketing expenses	4.2			1.4			1.6
Other income and expenses	2.8			11.2			6.0
Losses before income taxes	(7.0		)	(12.6		)	(7.6		)
Income tax benefit	(1.8		)	(4.8		)	(4.2		)
Losses from discontinued operations, net of tax	$	(5.2	)	$	(7.8	)	$	(3.4	)

Assets Held For Sale

Assets classified as held for sale on our accompanying consolidated balance sheet as of May 27, 2018, primarily related to excess land parcels adjacent to our corporate headquarters with a carrying amount of $11.9 million and were sold in the third quarter of fiscal 2019. See Note 4.