Segment Information (Tables)

6 Months Ended

Nov. 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 Dining1		Other Business		Corporate		Consolidated
For the three months ended November 26, 2023
Sales	$	1,251.4	$	643.0	$	318.0	$	514.9	$	—	$	2,727.3
Restaurant and marketing expenses	988.9		531.2		261.4		448.4		(15.9)		2,214.0
Segment profit	$	262.5	$	111.8	$	56.6	$	66.5	$	15.9	$	513.3

Depreciation and amortization	$	40.5	$	18.3	$	16.6	$	25.4	$	11.7	$	112.5
Impairments and disposal of assets, net	—		0.1		—		—		7.4		7.5

1 Includes Ruth’s Chris results from the date of acquisition forward.

(in millions)	Olive Garden		LongHorn Steakhouse		Fine Dining1		Other Business		Corporate		Consolidated
For the six months ended November 26, 2023
Sales	$	2,479.3	$	1,312.8	$	591.5	$	1,074.3	$	—	$	5,457.9
Restaurant and marketing expenses	1,954.5		1,083.6		495.2		923.5		(31.3)		4,425.5
Segment profit	$	524.8	$	229.2	$	96.3	$	150.8	$	31.3	$	1,032.4

Depreciation and amortization	$	80.1	$	36.5	$	32.2	$	50.5	$	23.0	$	222.3
Impairments and disposal of assets, net	0.2		0.1		—		—		10.3		10.6
Purchases of land, buildings and equipment	135.6		69.9		52.0		52.3		2.6		312.4
1 Includes Ruth’s Chris results from the date of acquisition forward.


(in millions)	Olive Garden		LongHorn Steakhouse		Fine Dining		Other Business		Corporate		Consolidated
For the three months ended November 27, 2022
Sales	$	1,176.7	$	600.5	$	202.0	$	507.3	$	—	$	2,486.5
Restaurant and marketing expenses	957.8		514.9		163.1		448.3		(9.2)		2,074.9
Segment profit	$	218.9	$	85.6	$	38.9	$	59.0	$	9.2	$	411.6

Depreciation and amortization	$	36.2	$	16.6	$	9.0	$	24.6	$	10.4	$	96.8
Impairments and disposal of assets, net	—		—		—		—		(8.8)		(8.8)



(in millions)	Olive Garden		LongHorn Steakhouse		Fine Dining		Other Business		Corporate		Consolidated
For the six months ended November 27, 2022
Sales	$	2,307.4	$	1,205.1	$	385.4	$	1,034.7	$	—	$	4,932.6
Restaurant and marketing expenses	1,872.4		1,027.5		316.5		903.4		(22.0)		4,097.8
Segment profit	$	435.0	$	177.6	$	68.9	$	131.3	$	22.0	$	834.8

Depreciation and amortization	$	72.1	$	33.3	$	17.9	$	48.9	$	20.2	$	192.4
Impairments and disposal of assets, net	—		—		—		—		(13.7)		(13.7)
Purchases of land, buildings and equipment	123.5		56.1		24.5		62.3		13.9		280.3

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


	Three Months Ended				Six Months Ended
(in millions)	November 26, 2023		November 27, 2022		November 26, 2023		November 27, 2022
Segment profit	$	513.3	$	411.6	$	1,032.4	$	834.8
Less general and administrative expenses	(114.8)		(90.4)		(268.1)		(178.7)
Less depreciation and amortization	(112.5)		(96.8)		(222.3)		(192.4)
Less impairments and disposal of assets, net	(7.5)		8.8		(10.6)		13.7
Less interest, net	(37.1)		(19.8)		(66.8)		(39.6)

Earnings before income taxes	$	241.4	$	213.4	$	464.6	$	437.8