Segment Information (Tables)

9 Months Ended

Feb. 25, 2024

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 February 25, 2024
Sales	$	1,310.2	$	730.7	$	372.9	$	561.0	$	—	$	2,974.8
Restaurant and marketing expenses	1,015.5		594.1		291.5		477.3		(17.5)		2,360.9
Segment profit	$	294.7	$	136.6	$	81.4	$	83.7	$	17.5	$	613.9

Depreciation and amortization	$	43.2	$	19.5	$	16.9	$	26.2	$	12.1	$	117.9
Impairments and disposal of assets, net	—		—		—		—		0.4		0.4

1 Includes Ruth’s Chris results for the quarter.

(in millions)	Olive Garden		LongHorn Steakhouse		Fine Dining1		Other Business		Corporate		Consolidated
For the nine months ended February 25, 2024
Sales	$	3,789.5	$	2,043.5	$	964.4	$	1,635.3	$	—	$	8,432.7
Restaurant and marketing expenses	2,970.0		1,677.7		786.7		1,400.8		(48.8)		6,786.4
Segment profit	$	819.5	$	365.8	$	177.7	$	234.5	$	48.8	$	1,646.3

Depreciation and amortization	$	123.2	$	56.0	$	49.1	$	76.7	$	35.2	$	340.2
Impairments and disposal of assets, net	0.2		0.1		—		—		10.7		11.0
Purchases of land, buildings and equipment	198.6		102.7		80.9		73.2		5.4		460.8
1 Results of operations includes Ruth’s Chris from the date of acquisition forward.


(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

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


	Three Months Ended				Nine Months Ended
(in millions)	February 25, 2024		February 26, 2023		February 25, 2024		February 26, 2023
Segment profit	$	613.9	$	556.5	$	1,646.3	$	1,391.3
Less general and administrative expenses	(108.2)		(107.0)		(376.3)		(285.7)
Less depreciation and amortization	(117.9)		(98.3)		(340.2)		(290.7)
Less impairments and disposal of assets, net	(0.4)		(1.3)		(11.0)		12.4
Less interest, net	(36.5)		(19.6)		(103.3)		(59.2)

Earnings from continuing operations before income taxes	$	350.9	$	330.3	$	815.5	$	768.1