Revenue Recognition

6 Months Ended

Nov. 27, 2022

Revenue from Contract with Customer [Abstract]

Revenue Recognition

Revenue Recognition  

Deferred revenue liabilities from contracts with customers included on our accompanying consolidated balance sheets is comprised of the following:

(in millions)	November 27, 2022		May 29, 2022
Unearned revenues
Deferred gift card revenue	$	484.9	$	521.1
Deferred gift card discounts	(21.5)		(23.5)
Other	0.4		0.4
Total	$	463.8	$	498.0
Other liabilities
Deferred franchise fees - non-current	$	2.6	$	2.8

The following table presents a rollforward of deferred gift card revenue.

	Three Months Ended				Six Months Ended
(in millions)	November 27, 2022		November 28, 2021		November 27, 2022		November 28, 2021
Beginning balance	$	488.5	$	465.0	$	521.1	$	494.3
Activations	119.9		127.7		234.3		234.3
Redemptions and breakage	(123.5)		(115.8)		(270.5)		(251.7)
Ending balance	$	484.9	$	476.9	$	484.9	$	476.9