Impairments and Disposal of Assets, Net

9 Months Ended

Feb. 25, 2024

Impairments and disposal of assets, net, in our accompanying consolidated statements of earnings were comprised of the following:


	Three Months Ended				Nine Months Ended
(in millions)	February 25, 2024		February 26, 2023		February 25, 2024		February 26, 2023
Restaurant impairments	$	—	$	1.5	$	0.3	$	1.5
Disposal (gains) losses	—		(2.3)		9.8		(16.0)
Other	0.4		2.1		0.9		2.1
Impairments and disposal of assets, net	$	0.4	$	1.3	$	11.0	$	(12.4)

Restaurant impairments and disposal (gains) losses for the nine months ended February 25, 2024 were related to the decision to close five locations, sale of properties and the write-off of acquired Ruth’s Chris assets. Restaurant impairments for the quarter and nine months ended February 26, 2023 were related to (i) one underperforming restaurant with projected cash flows insufficient to cover its respective carrying values and (ii) three restaurant closures. Disposal gains for the quarter and nine months ended February 26, 2023 were primarily related to the sale of properties. Other impacts for the quarter and nine months ended February 25, 2024 related to right-of-use asset adjustments on early lease terminations, the write-off of capitalized software costs, and liquor license impairment. Other impacts for the quarter and nine months ended February 26, 2023 related to costs associated with cancelled projects.