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IMPAIRMENTS AND DISPOSAL OF ASSETS, NET
12 Months Ended
May 25, 2025
Asset Impairment Charges [Abstract]  
IMPAIRMENTS AND DISPOSAL OF ASSETS, NET IMPAIRMENTS AND DISPOSAL OF ASSETS, NET
Impairments and disposal of assets, net, in our accompanying consolidated statements of earnings are comprised of the following:
Fiscal Year Ended
(in millions)May 25, 2025May 26, 2024May 28, 2023
Restaurant impairments$0.1 $0.3 $2.4 
Disposal (gains) losses48.1 13.1 (15.1)
Other1.0 (1.0)2.1 
Impairments and disposal of assets, net$49.2 $12.4 $(10.6)
Restaurant impairments and disposal losses for fiscal 2025 were mainly related to the decision to close twenty-two restaurant locations due to underperformance. Restaurant impairments and disposal losses for fiscal 2024 were related to the decision to close nine locations and the write-off of acquired Ruth’s Chris assets. Restaurant impairments for fiscal 2023 were primarily related to one underperforming restaurant whose projected cash flows were not sufficient to cover its respective carrying values and four restaurant closures. Disposal gains for fiscal 2023 were primarily related to sale of properties, sale-leasebacks, disposal of closed locations, and the sale of liquor licenses. Other impacts for fiscal 2025, 2024 and 2023 were primarily related to the write-off of inventory from closed locations, right-of-use asset adjustments on early lease terminations and cancelled projects, respectively.
Impairment charges were measured based on the amount by which the carrying amount of these assets exceeded their fair value. Fair value is generally determined based on appraisals or sales prices of comparable assets and estimates of discounted future cash flows (see Note 9). These amounts are included in impairments and disposal of assets, net as a component of earnings from continuing operations in the accompanying consolidated statements of earnings.