Segment Information (Tables)

9 Months Ended

Feb. 26, 2023

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 26, 2023
Sales	$	1,301.2	$	695.5	$	235.6	$	553.9	$	—	$	2,786.2
Restaurant and marketing expenses	1,008.2		574.3		184.3		476.1		(13.2)		2,229.7
Segment profit	$	293.0	$	121.2	$	51.3	$	77.8	$	13.2	$	556.5

Depreciation and amortization	$	37.2	$	17.2	$	9.1	$	24.5	$	10.3	$	98.3
Impairments and disposal of assets, net	—		(3.3)		—		(0.1)		4.7		1.3


(in millions)	Olive Garden		LongHorn Steakhouse		Fine Dining		Other Business		Corporate		Consolidated
For the nine months ended February 26, 2023
Sales	$	3,608.6	$	1,900.6	$	621.0	$	1,588.6	$	—	$	7,718.8
Restaurant and marketing expenses	2,880.6		1,601.8		500.8		1,379.5		(35.2)		6,327.5
Segment profit	$	728.0	$	298.8	$	120.2	$	209.1	$	35.2	$	1,391.3

Depreciation and amortization	$	109.3	$	50.5	$	27.0	$	73.4	$	30.5	$	290.7
Impairments and disposal of assets, net	—		(3.3)		—		(0.1)		(9.0)		(12.4)
Purchases of land, buildings and equipment	183.2		77.8		40.2		93.0		16.3		410.5


(in millions)	Olive Garden		LongHorn Steakhouse		Fine Dining		Other Business		Corporate		Consolidated
For the three months ended February 27, 2022
Sales	$	1,142.6	$	612.7	$	208.2	$	485.4	$	—	$	2,448.9
Restaurant and marketing expenses	902.6		501.2		160.5		418.2		(8.2)		1,974.3
Segment profit	$	240.0	$	111.5	$	47.7	$	67.2	$	8.2	$	474.6

Depreciation and amortization	$	34.9	$	16.0	$	8.5	$	24.8	$	10.1	$	94.3
Impairments and disposal of assets, net	(0.1)		0.1		—		—		(3.8)		(3.8)


(in millions)	Olive Garden		LongHorn Steakhouse		Fine Dining		Other Business		Corporate		Consolidated
For the nine months ended February 27, 2022
Sales	$	3,310.2	$	1,727.0	$	565.7	$	1,424.2	$	—	$	7,027.1
Restaurant and marketing expenses	2,581.8		1,424.4		444.7		1,209.9		(17.3)		5,643.5
Segment profit	$	728.4	$	302.6	$	121.0	$	214.3	$	17.3	$	1,383.6

Depreciation and amortization	$	106.2	$	48.3	$	25.2	$	73.4	$	22.3	$	275.4
Impairments and disposal of assets, net	1.0		0.1		—		—		(6.6)		(5.5)
Purchases of land, buildings and equipment	116.1		65.9		31.4		60.6		1.6		275.6

A reconciliation of segment profit to earnings from continuing operations before income taxes is below.


	Three Months Ended				Nine Months Ended
(in millions)	February 26, 2023		February 27, 2022		February 26, 2023		February 27, 2022
Segment profit	$	556.5	$	474.6	$	1,391.3	$	1,383.6
Less general and administrative expenses	(107.0)		(83.3)		(285.7)		(289.7)
Less depreciation and amortization	(98.3)		(94.3)		(290.7)		(275.4)
Less impairments and disposal of assets, net	(1.3)		3.8		12.4		5.5
Less interest, net	(19.6)		(17.5)		(59.2)		(49.8)

Earnings before income taxes	$	330.3	$	283.3	$	768.1	$	774.2