XML 78 R30.htm IDEA: XBRL DOCUMENT v3.20.1
Segment Information (Tables)
 9 Months Ended
Feb. 23, 2020
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 February 23, 2020
 
Sales
 
$
1,169.3

 
$
510.7

 
$
188.4

 
$
478.1

 
$
—

 
$
2,346.5

Restaurant and marketing expenses
 
922.6

 
406.1

 
141.7

 
408.6

 
1.1

 
1,880.1

Segment profit
 
$
246.7

 
$
104.6

 
$
46.7

 
$
69.5

 
$
(1.1
)
 
$
466.4

 
 
 
 
 
 
 
 
 
 
 
 
 
Depreciation and amortization
 
$
35.3

 
$
17.1

 
$
8.0

 
$
24.7

 
$
2.6

 
$
87.7

Impairments and disposal of assets, net
 
0.6

 
0.5

 
—

 
—

 
(1.0
)
 
0.1

 
 
 
 
 
 
 
 
 
 
 
 
 
(in millions)
 
Olive Garden
 
LongHorn Steakhouse
 
Fine Dining
 
Other Business
 
Corporate
 
Consolidated
For the nine months ended February 23, 2020
 
Sales
 
$
3,283.0

 
$
1,408.2

 
$
479.4

 
$
1,366.2

 
$
—

 
$
6,536.8

Restaurant and marketing expenses
 
2,617.1

 
1,157.2

 
381.9

 
1,184.6

 
4.7

 
5,345.5

Segment profit
 
$
665.9

 
$
251.0

 
$
97.5

 
$
181.6

 
$
(4.7
)
 
$
1,191.3

 
 
 
 
 
 
 
 
 
 
 
 
 
Depreciation and amortization
 
$
107.4

 
$
50.9

 
$
23.9

 
$
73.2

 
$
6.1

 
$
261.5

Impairments and disposal of assets, net
 
2.4

 
1.7

 
—

 
—

 
(3.9
)
 
0.2

Purchases of land, buildings and equipment
 
164.1

 
61.8

 
50.5

 
93.4

 
4.7

 
374.5

(in millions)
 
Olive Garden
 
LongHorn Steakhouse
 
Fine Dining
 
Other Business
 
Corporate
 
Consolidated
For the three months ended February 24, 2019
 
Sales
 
$
1,130.2

 
$
483.2

 
$
174.5

 
$
458.6

 
$
—

 
$
2,246.5

Restaurant and marketing expenses
 
884.6

 
385.9

 
131.1

 
389.4

 
0.3

 
1,791.3

Segment profit
 
$
245.6

 
$
97.3

 
$
43.4

 
$
69.2

 
$
(0.3
)
 
$
455.2

 
 
 
 
 
 
 
 
 
 
 
 
 
Depreciation and amortization
 
$
35.5

 
$
17.2

 
$
7.5

 
$
23.8

 
$
1.3

 
$
85.3

Impairments and disposal of assets, net
 
2.2

 
—

 
—

 
—

 
(0.6
)
 
1.6

 
 
 
 
 
 
 
 
 
 
 
 
 
(in millions)
 
Olive Garden
 
LongHorn Steakhouse
 
Fine Dining
 
Other Business
 
Corporate
 
Consolidated
For the nine months ended February 24, 2019
 
Sales
 
$
3,180.3

 
$
1,326.2

 
$
451.2

 
$
1,323.6

 
$
—

 
$
6,281.3

Restaurant and marketing expenses
 
2,534.2

 
1,090.2

 
358.7

 
1,135.5

 
4.4

 
5,123.0

Segment profit
 
$
646.1

 
$
236.0

 
$
92.5

 
$
188.1

 
$
(4.4
)
 
$
1,158.3

 
 
 
 
 
 
 
 
 
 
 
 
 
Depreciation and amortization
 
$
103.8

 
$
50.6

 
$
21.8

 
$
68.3

 
$
4.3

 
$
248.8

Impairments and disposal of assets, net
 
4.6

 
0.3

 
—

 
—

 
(0.5
)
 
4.4

Purchases of land, buildings and equipment
 
146.1

 
50.5

 
31.2

 
116.3

 
2.8

 
346.9
Reconciliation of Operating Profit (Loss) from Segments to Consolidated
Reconciliation of segment profit to earnings from continuing operations before income taxes:
 
 
Three Months Ended
 
Nine Months Ended
(in millions)
 
February 23, 2020
 
February 24, 2019
 
February 23, 2020
 
February 24, 2019
Segment profit
 
$
466.4

 
$
455.2

 
$
1,191.3

 
$
1,158.3

Less general and administrative expenses
 
(100.3
)
 
(102.8
)
 
(289.6
)
 
(302.4
)
Less depreciation and amortization
 
(87.7
)
 
(85.3
)
 
(261.5
)
 
(248.8
)
Less impairments and disposal of assets, net
 
(0.1
)
 
(1.6
)
 
(0.2
)
 
(4.4
)
Less interest, net
 
(13.2
)
 
(12.4
)
 
(37.4
)
 
(38.3
)
Less other (income) expense, net
 
—


—

 
(153.3
)
 
—

Earnings (loss) before income taxes
 
$
265.1

 
$
253.1

 
$
449.3

 
$
564.4