Revenue Recognition

9 Months Ended

Feb. 26, 2023

Revenue from Contract with Customer [Abstract]

Revenue Recognition

Revenue Recognition  

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

(in millions)	February 26, 2023		May 29, 2022
Unearned revenues
Deferred gift card revenue	$	577.9	$	521.1
Deferred gift card discounts	(30.4)		(23.5)
Other	0.5		0.4
Total	$	548.0	$	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				Nine Months Ended
(in millions)	February 26, 2023		February 27, 2022		February 26, 2023		February 27, 2022
Beginning balance	$	484.9	$	476.9	$	521.1	$	494.3
Activations	343.1		318.6		577.4		552.9
Redemptions and breakage	(250.1)		(231.2)		(520.6)		(482.9)
Ending balance	$	577.9	$	564.3	$	577.9	$	564.3