XML 17 R3.htm IDEA: XBRL DOCUMENT v3.23.2
CONSOLIDATED STATEMENTS OF EARNINGS - USD ($)
shares in Millions, $ in Millions
12 Months Ended
May 28, 2023
May 29, 2022
May 30, 2021
Sales $ 10,487.8 $ 9,630.0 $ 7,196.1
Costs and expenses:      
Restaurant labor 3,346.3 3,108.8 2,286.3
Marketing expenses 118.3 93.2 91.1
General and administrative expenses 386.1 373.2 396.2
Depreciation and amortization 387.8 368.4 350.9
Impairments and disposal of assets, net (10.6) (2.0) 6.6
Total operating costs and expenses 9,286.0 8,467.8 6,547.4
Operating income 1,201.8 1,162.2 648.7
Interest, net 81.3 68.7 63.5
Other (income) expense, net 0.0 0.0 8.7
Earnings before income taxes 1,120.5 1,093.5 576.5
Income tax expense (benefit) 137.0 138.8 (55.9)
Earnings from continuing operations 983.5 954.7 632.4
Losses from discontinued operations, net of tax benefit of $0.8, $0.2 and $3.2, respectively (1.6) (1.9) (3.1)
Net earnings $ 981.9 $ 952.8 $ 629.3
Basic net earnings per share:      
Earnings from continuing operations (in dollars per share) $ 8.07 $ 7.47 $ 4.85
Losses from discontinued operations (in dollars per share) (0.01) (0.01) (0.02)
Net earnings (in dollars per share) 8.06 7.46 4.83
Diluted net earnings per share:      
Earnings from continuing operations (in dollars per share) 8.00 7.40 4.80
Losses from discontinued operations (in dollars per share) (0.01) (0.01) (0.03)
Net earnings (in dollars per share) $ 7.99 $ 7.39 $ 4.77
Average number of common shares outstanding:      
Basic (in shares) 121.9 127.8 130.4
Diluted (in shares) 122.9 129.0 131.8
Food and beverage      
Costs and expenses:      
Food and beverage costs and restaurant expenses $ 3,355.9 $ 2,943.6 $ 2,072.1
Restaurant expenses      
Costs and expenses:      
Food and beverage costs and restaurant expenses $ 1,702.2 $ 1,582.6 $ 1,344.2