XML 16 R30.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Segment Information (Tables)
 6 Months Ended
Nov. 24, 2019
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment
The following tables reconcile our segment results to our consolidated results reported in accordance with GAAP.
(in millions)
 
Olive Garden
 
LongHorn Steakhouse
 
Fine Dining
 
Other Business
 
Corporate
 
Consolidated
For the three months ended November 24, 2019
 
Sales
 
$
1,023.6

 
$
447.3

 
$
154.8

 
$
430.7

 
$
—

 
$
2,056.4

Restaurant and marketing expenses
 
833.3

 
375.4

 
124.4

 
383.0

 
1.1

 
1,717.2

Segment profit
 
$
190.3

 
$
71.9

 
$
30.4

 
$
47.7

 
$
(1.1
)
 
$
339.2

 
 
 
 
 
 
 
 
 
 
 
 
 
Depreciation and amortization
 
$
36.0

 
$
17.0

 
$
8.1

 
$
24.5

 
$
2.0

 
$
87.6

Impairments and disposal of assets, net
 
0.4

 
1.2

 
—

 
—

 
(1.5
)
 
0.1

 
 
 
 
 
 
 
 
 
 
 
 
 
(in millions)
 
Olive Garden
 
LongHorn Steakhouse
 
Fine Dining
 
Other Business
 
Corporate
 
Consolidated
For the six months ended November 24, 2019
 
Sales
 
$
2,113.8

 
$
897.5

 
$
291.1

 
$
887.9

 
$
—

 
$
4,190.3

Restaurant and marketing expenses
 
1,694.6

 
751.1

 
240.4

 
775.8

 
3.5

 
3,465.4

Segment profit
 
$
419.2

 
$
146.4

 
$
50.7

 
$
112.1

 
$
(3.5
)
 
$
724.9

 
 
 
 
 
 
 
 
 
 
 
 
 
Depreciation and amortization
 
$
72.1

 
$
33.8

 
$
15.9

 
$
48.5

 
$
3.5

 
$
173.8

Impairments and disposal of assets, net
 
1.8

 
1.2

 
—

 
—

 
(2.9
)
 
0.1

Purchases of land, buildings and equipment
 
112.1

 
41.7

 
35.5

 
64.0

 
3.2

 
256.5

(in millions)
 
Olive Garden
 
LongHorn Steakhouse
 
Fine Dining
 
Other Business
 
Corporate
 
Consolidated
For the three months ended November 25, 2018
 
Sales
 
$
998.1

 
$
412.6

 
$
146.7

 
$
416.0

 
$
—

 
$
1,973.4

Restaurant and marketing expenses
 
814.6

 
345.5

 
117.8

 
365.0

 
1.8

 
1,644.7

Segment profit
 
$
183.5

 
$
67.1

 
$
28.9

 
$
51.0

 
$
(1.8
)
 
$
328.7

 
 
 
 
 
 
 
 
 
 
 
 
 
Depreciation and amortization
 
$
34.7

 
$
16.8

 
$
7.2

 
$
22.6

 
$
1.5

 
$
82.8

Impairments and disposal of assets, net
 
2.4

 
0.3

 
—

 
—

 
—

 
2.7

 
 
 
 
 
 
 
 
 
 
 
 
 
(in millions)
 
Olive Garden
 
LongHorn Steakhouse
 
Fine Dining
 
Other Business
 
Corporate
 
Consolidated
For the six months ended November 25, 2018
 
Sales
 
$
2,050.1

 
$
842.9

 
$
276.7

 
$
865.1

 
$
—

 
$
4,034.8

Restaurant and marketing expenses
 
1,649.6

 
704.3

 
227.6

 
746.1

 
4.1

 
3,331.7

Segment profit
 
$
400.5

 
$
138.6

 
$
49.1

 
$
119.0

 
$
(4.1
)
 
$
703.1

 
 
 
 
 
 
 
 
 
 
 
 
 
Depreciation and amortization
 
$
68.3

 
$
33.5

 
$
14.4

 
$
44.5

 
$
2.8

 
$
163.5

Impairments and disposal of assets, net
 
2.5

 
0.3

 
—

 
—

 
—

 
2.8

Purchases of land, buildings and equipment
 
96.3

 
38.3

 
17.9

 
78.7

 
1.8

 
233.0
Reconciliation of Operating Profit (Loss) from Segments to Consolidated
Reconciliation of segment profit to earnings from continuing operations before income taxes:
 
 
Three Months Ended
 
Six Months Ended
(in millions)
 
November 24, 2019
 
November 25, 2018
 
November 24, 2019
 
November 25, 2018
Segment profit
 
$
339.2

 
$
328.7

 
$
724.9

 
$
703.1

Less general and administrative expenses
 
(91.3
)
 
(95.1
)
 
(189.3
)
 
(199.6
)
Less depreciation and amortization
 
(87.6
)
 
(82.8
)
 
(173.8
)
 
(163.5
)
Less impairments and disposal of assets, net
 
(0.1
)
 
(2.7
)
 
(0.1
)
 
(2.8
)
Less interest, net
 
(13.1
)
 
(12.8
)
 
(24.2
)
 
(25.9
)
Less other (income) expense, net
 
(153.3
)

—

 
(153.3
)
 
—

Earnings (loss) before income taxes
 
$
(6.2
)
 
$
135.3

 
$
184.2

 
$
311.3