DARDEN RESTAURANTS INC, 10-K filed on 7/18/2025
Annual Report
v3.25.2
Cover - USD ($)
$ in Millions
 12 Months Ended
May 25, 2025
Nov. 22, 2024
Cover [Abstract]    
Document Type 10-K  
Document Annual Report true  
Document Period End Date May 25, 2025  
Current Fiscal Year End Date --05-25  
Document Transition Report false  
Entity File Number 1-13666  
Entity Registrant Name DARDEN RESTAURANTS, INC.  
Entity Incorporation, State or Country Code FL  
Entity Tax Identification Number 59-3305930  
Entity Address, Address Line One 1000 Darden Center Drive,  
Entity Address, City or Town Orlando,  
Entity Address, State or Province FL  
Entity Address, Postal Zip Code 32837  
City Area Code 407  
Local Phone Number 245-4000  
Title of 12(b) Security Common Stock, without par value  
Trading Symbol DRI  
Security Exchange Name NYSE  
Entity Well Known Seasoned Issuer Yes  
Entity Voluntary Filer No  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
ICFR Auditor Attestation Flag true  
Document Financial Statement Error Correction [Flag] false  
Entity Shell Company false  
Public Float   $ 19,613.8
Entity Common Stock, Shares Outstanding (in shares) 117,033,830  
Documents Incorporated by Reference
Portions of the Registrant’s Proxy Statement for its Annual Meeting of Shareholders on September 17, 2025, to be filed with the Securities and Exchange Commission no later than 120 days after May 25, 2025, are incorporated by reference into Part III of this Report.
  
Entity Central Index Key 0000940944  
Amendment Flag false  
Document Fiscal Year Focus 2025  
Document Fiscal Period Focus FY  
v3.25.2
Audit Information
 12 Months Ended
May 25, 2025
Audit Information [Abstract]  
Auditor Name KPMG LLP
Auditor Location Orlando, FL
Auditor Firm ID 185
v3.25.2
CONSOLIDATED STATEMENTS OF EARNINGS - USD ($)
shares in Millions, $ in Millions
 12 Months Ended
May 25, 2025
May 26, 2024
May 28, 2023
Sales $ 12,076.7 $ 11,390.0 $ 10,487.8
Costs and expenses:      
Restaurant labor 3,833.1 3,619.3 3,346.3
Marketing expenses 169.9 144.5 118.3
Pre-opening costs 24.8 24.3 25.9
General and administrative expenses 520.3 479.2 386.1
Depreciation and amortization 516.1 459.9 387.8
Impairments and disposal of assets, net 49.2 12.4 (10.6)
Total operating costs and expenses 10,714.4 10,075.8 9,286.0
Operating income 1,362.3 1,314.2 1,201.8
Interest, net 175.1 138.7 81.3
Earnings before income taxes 1,187.2 1,175.5 1,120.5
Income tax expense 136.2 145.0 137.0
Earnings from continuing operations 1,051.0 1,030.5 983.5
Losses from discontinued operations, net of tax benefit of $0.8, $1.7 and $0.8, respectively (1.4) (2.9) (1.6)
Net earnings $ 1,049.6 $ 1,027.6 $ 981.9
Basic net earnings per share:      
Earnings from continuing operations (in dollars per share) $ 8.94 $ 8.59 $ 8.07
Losses from discontinued operations (in dollars per share) (0.01) (0.02) (0.01)
Net earnings (in dollars per share) 8.93 8.57 8.06
Diluted net earnings per share:      
Earnings from continuing operations (in dollars per share) 8.88 8.53 8.00
Losses from discontinued operations (in dollars per share) (0.02) (0.02) (0.01)
Net earnings (in dollars per share) $ 8.86 $ 8.51 $ 7.99
Average number of common shares outstanding:      
Basic (in shares) 117.5 119.9 121.9
Diluted (in shares) 118.4 120.8 122.9
Food and beverage      
Costs and expenses:      
Food and beverage costs and restaurant expenses $ 3,657.0 $ 3,523.9 $ 3,355.9
Restaurant expenses      
Costs and expenses:      
Food and beverage costs and restaurant expenses $ 1,944.0 $ 1,812.3 $ 1,676.3
v3.25.2
CONSOLIDATED STATEMENTS OF EARNINGS (Parenthetical) - USD ($)
$ in Millions
 12 Months Ended
May 25, 2025
May 26, 2024
May 28, 2023
Income Statement [Abstract]      
Tax benefit from discontinued operations $ 0.8 $ 1.7 $ 0.8
v3.25.2
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Millions
 12 Months Ended
May 25, 2025
May 26, 2024
May 28, 2023
Statement of Comprehensive Income [Abstract]      
Net earnings $ 1,049.6 $ 1,027.6 $ 981.9
Foreign currency adjustment 0.0 0.1 (0.3)
Change in fair value of derivatives and amortization of unrecognized gains and losses on derivatives, net of taxes of $(1.0), $9.4 and $(1.5), respectively 5.9 20.6 4.3
Net unamortized gain arising during period, including amortization of unrecognized net actuarial loss, net of taxes of $0.2, $0.6 and $0.4, respectively 0.3 1.7 1.1
Other comprehensive income 6.2 22.4 5.1
Total comprehensive income $ 1,055.8 $ 1,050.0 $ 987.0
v3.25.2
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($)
$ in Millions
 12 Months Ended
May 25, 2025
May 26, 2024
May 28, 2023
Statement of Comprehensive Income [Abstract]      
Change in fair value of derivatives and amortization of unrecognized gain (loss) on derivatives, tax $ (1.0) $ 9.4 $ (1.5)
Amortization of unrecognized net actuarial loss, tax $ 0.2 $ 0.6 $ 0.4
v3.25.2
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
May 25, 2025
May 26, 2024
Current assets:    
Cash and cash equivalents $ 240.0 $ 194.8
Receivables, net 93.8 79.1
Inventories 311.6 290.5
Prepaid income taxes 135.6 121.7
Prepaid expenses and other current assets 156.7 136.7
Total current assets 937.7 822.8
Land, buildings and equipment, net 4,716.0 4,184.3
Operating lease right-of-use assets 3,555.9 3,429.3
Goodwill 1,659.4 1,391.0
Trademarks 1,346.4 1,148.0
Other assets 371.6 347.6
Total assets 12,587.0 11,323.0
Current liabilities:    
Accounts payable 439.6 399.5
Short-term debt 0.0 86.8
Accrued payroll 207.5 190.1
Accrued income taxes 4.7 6.1
Other accrued taxes 83.0 71.0
Unearned revenues 599.4 591.8
Other current liabilities 913.3 847.2
Total current liabilities 2,247.5 2,192.5
Long-term debt 2,128.9 1,370.4
Deferred income taxes 278.8 232.0
Operating lease liabilities - non-current 3,816.9 3,704.7
Other liabilities 1,803.6 1,580.9
Total liabilities 10,275.7 9,080.5
Stockholders’ equity:    
Common stock and surplus, no par value. Authorized 500.0 shares; issued 117.0 and 118.9 shares, respectively; outstanding 117.0 and 118.9 shares, respectively 2,295.6 2,252.4
Preferred stock, no par value. Authorized 25.0 shares; none issued and outstanding 0.0 0.0
Retained earnings (deficit) (16.1) (35.5)
Accumulated other comprehensive income 31.8 25.6
Total stockholders’ equity 2,311.3 2,242.5
Total liabilities and stockholders’ equity $ 12,587.0 $ 11,323.0
v3.25.2
CONSOLIDATED BALANCE SHEETS (Parenthetical) - shares
May 25, 2025
May 26, 2024
Statement of Financial Position [Abstract]    
Common stock, authorized (in shares) 500,000,000.0 500,000,000.0
Common stock, issued (in shares) 117,000,000.0 118,900,000
Common stock, outstanding (in shares) 117,000,000.0 118,900,000
Preferred stock, authorized (in shares) 25,000,000.0 25,000,000.0
Preferred stock, issued (in shares) 0 0
Preferred stock, outstanding (in shares) 0 0
v3.25.2
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($)
shares in Thousands, $ in Millions
Total
Common Stock And Surplus
Retained Earnings (Deficit)
Accumulated Other Comprehensive Income (Loss)
Beginning balance (in shares) at May. 29, 2022   123,900    
Beginning balance at May. 29, 2022 $ 2,198.2 $ 2,226.0 $ (25.9) $ (1.9)
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Net earnings 981.9   981.9  
Other comprehensive income 5.1     5.1
Dividends declared (594.1)   (594.1)  
Stock option exercises (in shares)   400    
Stock option exercises 24.2 $ 24.2    
Stock-based compensation 32.7 $ 32.7    
Repurchases of common stock (in shares)   (3,500)    
Repurchases of common stock (458.7) $ (64.3) (394.4)  
Issuance of stock under Employee Stock Purchase Plan and other plans (in shares)   300    
Issuance of stock under Employee Stock Purchase Plan and other plans 11.2 $ 11.2    
Other 1.0 $ 1.0    
Ending balance (in shares) at May. 28, 2023   121,100    
Ending balance at May. 28, 2023 2,201.5 $ 2,230.8 (32.5) 3.2
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Net earnings 1,027.6   1,027.6  
Other comprehensive income 22.4     22.4
Dividends declared (631.9)   (631.9)  
Stock option exercises (in shares)   400    
Stock option exercises 31.8 $ 31.8    
Stock-based compensation 36.6 $ 36.6    
Repurchases of common stock (in shares)   (2,900)    
Repurchases of common stock (453.9) $ (55.2) (398.7)  
Issuance of stock under Employee Stock Purchase Plan and other plans (in shares)   300    
Issuance of stock under Employee Stock Purchase Plan and other plans 11.8 $ 11.8    
Other $ (3.4) $ (3.4)    
Ending balance (in shares) at May. 26, 2024 118,900 118,900    
Ending balance at May. 26, 2024 $ 2,242.5 $ 2,252.4 (35.5) 25.6
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Net earnings 1,049.6   1,049.6  
Other comprehensive income 6.2     6.2
Dividends declared $ (663.1)   (663.1)  
Stock option exercises (in shares) 480 500    
Stock option exercises $ 42.8 $ 42.8    
Stock-based compensation 41.8 $ 41.8    
Repurchases of common stock (in shares)   (2,600)    
Repurchases of common stock (418.2) $ (51.4) (366.8)  
Issuance of stock under Employee Stock Purchase Plan and other plans (in shares)   200    
Issuance of stock under Employee Stock Purchase Plan and other plans 12.8 $ 12.8    
Other $ (3.1) $ (2.8) (0.3)  
Ending balance (in shares) at May. 25, 2025 117,000 117,000    
Ending balance at May. 25, 2025 $ 2,311.3 $ 2,295.6 $ (16.1) $ 31.8
v3.25.2
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares
 12 Months Ended
May 25, 2025
May 26, 2024
May 28, 2023
Statement of Stockholders' Equity [Abstract]      
Dividends declared (in dollars per share) $ 5.60 $ 5.24 $ 4.84
v3.25.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 12 Months Ended
May 25, 2025
May 26, 2024
May 28, 2023
Cash flows - operating activities      
Net earnings $ 1,049.6 $ 1,027.6 $ 981.9
Losses from discontinued operations, net of tax 1.4 2.9 1.6
Adjustments to reconcile net earnings from continuing operations to cash flows:      
Depreciation and amortization 516.1 459.9 387.8
Impairments and disposal of assets, net 49.2 12.4 (10.6)
Stock-based compensation expense 79.1 68.5 67.5
Change in current assets and liabilities 11.5 95.4 175.7
Contributions to pension and postretirement plans (1.6) (1.7) (2.1)
Deferred income taxes 5.0 (3.2) (59.5)
Change in other assets and liabilities 0.0 (23.4) 9.0
Other, net (3.3) (16.7) 1.5
Net cash provided by operating activities of continuing operations 1,707.0 1,621.7 1,552.8
Cash flows - investing activities      
Purchases of land, buildings and equipment (644.6) (601.2) (564.9)
Proceeds from disposal of land, buildings and equipment 2.5 3.3 25.4
Cash used in business acquisitions, net of cash acquired (613.7) (701.1) 0.0
Purchases of capitalized software and other assets (27.3) (27.1) (29.4)
Other, net 4.8 1.5 0.5
Net cash used in investing activities of continuing operations (1,278.3) (1,324.6) (568.4)
Cash flows - financing activities      
Net proceeds from issuance of common stock 55.6 43.6 35.4
Dividends paid (658.5) (628.4) (589.8)
Repurchases of common stock (418.2) (453.9) (458.7)
(Repayment of) proceeds from commercial paper, net (86.8) 86.8 0.0
Proceeds from the issuance of long-term debt 750.0 1,100.0 0.0
Repayments of long-term debt 0.0 (600.0) 0.0
Principal payments on finance leases, net (21.0) (19.9) (19.8)
Payment of debt issuance costs (6.9) (11.6) (0.2)
Net cash used in financing activities of continuing operations (385.8) (483.4) (1,033.1)
Cash flows - discontinued operations      
Net cash used in operating activities of discontinued operations (8.5) (9.8) (7.2)
Net cash used in discontinued operations (8.5) (9.8) (7.2)
Increase (Decrease) in cash, cash equivalents, and restricted cash 34.4 (196.1) (55.9)
Cash, cash equivalents, and restricted cash - beginning of year 220.1 416.2 472.1
Cash, cash equivalents and restricted cash - end of year 254.5 220.1 416.2
Reconciliation of cash, cash equivalents, and restricted cash:      
Cash and cash equivalents 240.0 194.8 367.8
Restricted cash included in prepaid and other current assets 14.5 25.3 48.4
Total cash, cash equivalents, and restricted cash shown in the statement of cash flows 254.5 220.1 416.2
Cash flows from changes in current assets and liabilities      
Receivables, net (13.2) 9.3 (8.2)
Inventories (20.5) 5.6 (17.3)
Prepaid expenses and other current assets (6.7) (1.4) (24.5)
Accounts payable 26.6 (11.3) 40.9
Accrued payroll 13.3 7.7 (8.4)
Prepaid/accrued income taxes (15.2) 5.1 143.3
Other accrued taxes 8.0 4.6 1.3
Unearned revenues 5.0 12.9 14.0
Other current liabilities 14.2 62.9 34.6
Change in current assets and liabilities $ 11.5 $ 95.4 $ 175.7
v3.25.2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
 12 Months Ended
May 25, 2025
Accounting Policies [Abstract]  
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of Presentation
The accompanying consolidated financial statements include the operations of Darden Restaurants, Inc. and its wholly owned subsidiaries (Darden, the Company, we, us or our). We own and operate the Olive Garden®, LongHorn Steakhouse®, Cheddar’s Scratch Kitchen®, Chuy’s®, Yard House®, Ruth’s Chris Steak House® (“Ruth’s Chris”), The Capital Grille®, Seasons 52®, Eddie V’s Prime Seafood® (Eddie V’s), Bahama Breeze®, and The Capital Burger® restaurant brands located in the United States and Canada. Through subsidiaries, we own and operate all of our restaurants in the United States and Canada, except for 5 restaurants we manage through joint venture or other contractual agreements and 85 franchised restaurants. We also have 69 franchised restaurants located in Canada, Latin America, the Caribbean, Asia, and the Middle East. All significant intercompany balances and transactions have been eliminated in consolidation.

On October 11, 2024, we completed our acquisition of Chuy’s Holdings Inc. (Chuy’s), a Delaware corporation, for $37.50 per share in cash. See Note 2, Acquisition of Chuy’s.

During the fourth quarter of fiscal 2025, we entered into an Asset Purchase Agreement (APA) with Recipe Unlimited Corporation (“Recipe”). Pursuant to the APA, we agreed to sell the assets of all eight Olive Garden restaurants located in Canada and certain operating liabilities related thereto, and Recipe agreed to purchase such assets and liabilities and franchise the operations of the restaurants as part of their current franchise portfolio. The APA was signed on April 25, 2025 for an agreed upon sale price of 60.0 million Canadian dollars less the assumption of certain liabilities as part of the transaction. At closing, Darden and Recipe entered into an area development and franchise agreement, pursuant to which Recipe will operate under the Olive Garden tradename and will pay royalties for use of the tradename.

The sale successfully closed in the first quarter of fiscal 2026, and the gain on the sale will be evaluated and recognized in the first quarter of 2026. All assets and liabilities related to this transaction have been classified as held for sale and are primarily included within prepaid expenses and other current assets and other current liabilities on our consolidated balance sheet.

In our June 2025 earnings call, we announced the decision to explore strategic alternatives for the Bahama Breeze brand, which includes 28 locations owned and operated by Darden and one franchise location. We will be exploring a sale of the brand or conversions of some or all of these locations to other Darden brands. The Bahama Breeze assets did not meet the criteria to be classified as held for sale as of the end of fiscal 2025.
For fiscal 2025, 2024 and 2023, all gains and losses on disposition, impairment charges and disposal costs, along with the sales, costs and expenses and income taxes attributable to the sale of Red Lobster, have been classified as discontinued locations, and have been aggregated in a single caption entitled “Losses from discontinued operations, net of tax benefit” in our consolidated statements of earnings for all periods presented. Neither the pending sale of our eight Olive Garden Canada restaurants nor our recent announcement to explore strategic alternatives for Bahama Breeze meet the requirements to be classified as discontinued operations.
Fiscal Year
We operate on a 52/53-week fiscal year, which ends on the last Sunday in May. Fiscal 2025, which ended May 25, 2025, consisted of 52 weeks. Fiscal 2024, which ended May 26, 2024, consisted of 52 weeks and fiscal 2023, which ended May 28, 2023, consisted of 52 weeks.
Use of Estimates
We prepare our consolidated financial statements in conformity with U.S. generally accepted accounting principles (GAAP). The preparation of these financial statements requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of sales and expenses during the reporting period. Actual results could differ from those estimates.
Cash and Cash Equivalents
Cash equivalents include highly liquid investments such as bank deposits and money market funds that have an original maturity of three months or less. Amounts receivable from credit card companies are also considered cash equivalents because they are both short term and highly liquid in nature and are typically converted to cash within three days of the sales transaction.
The components of cash and cash equivalents are as follows:
(in millions)May 25, 2025May 26, 2024
Short-term investments$21.3 $2.8 
Credit card receivables176.8 153.0 
Depository accounts41.9 39.0 
Total cash and cash equivalents$240.0 $194.8 
As of May 25, 2025, and May 26, 2024, we had cash and cash equivalent accounts in excess of insured limits. We manage the credit risk of our positions through utilizing multiple financial institutions and monitoring the credit quality of those financial institutions that hold our cash and cash equivalents. We had restricted cash of $14.5 million as of May 25, 2025 and $25.3 million as of May 26, 2024, which represents cash held as security for a standby letter of credit. Restricted cash is included in Prepaid Expenses and Other Current Assets on the balance sheet. See Note 16, Commitments and Contingencies.
Receivables, Net
Receivables, net of the allowance for doubtful accounts, represent their estimated net realizable value. Provisions for doubtful accounts are recorded based on historical collection experience and the age of the receivables. Receivables are written off when they are deemed uncollectible. See Note 12 for additional information.
Inventories
Inventories consist of food and beverages and are valued at the lower of weighted-average cost or net realizable value.
Land, Buildings and Equipment, Net
Land, buildings and equipment are recorded at cost less accumulated depreciation. Building components are depreciated over estimated useful lives ranging from 3 to 30 years using the straight-line method. Leasehold improvements, which are reflected on our consolidated balance sheets as a component of buildings in land, buildings and equipment, net, are amortized over the lesser of the expected lease term or the estimated useful lives of the related assets using the straight-line method. Equipment is depreciated over estimated useful lives ranging from 2 to 20 years also using the straight-line method. See Note 5 for additional information. Gains and losses on the disposal of land, buildings and equipment are included in impairments and disposal of assets, net, while the write-off of net book value associated with the replacement of equipment in the normal course of business is recorded as a component of restaurant expenses in our accompanying consolidated statements of earnings. Depreciation and amortization expense from continuing operations associated with buildings and equipment and losses on replacement of equipment were as follows:
Fiscal Year Ended
(in millions)May 25, 2025May 26, 2024May 28, 2023
Depreciation and amortization on buildings and equipment$496.1 $435.1 $367.4 
Losses on replacement of equipment3.9 3.0 2.2 
 
Capitalized Software Costs and Other Definite-Lived Intangibles
Capitalized software, which is a component of other assets, is recorded at cost less accumulated amortization. Capitalized software is amortized using the straight-line method over estimated useful lives ranging from 1 to 10 years. The cost of capitalized software and related accumulated amortization was as follows:
(in millions)May 25, 2025May 26, 2024
Capitalized software$314.8 $292.2 
Accumulated amortization(231.8)(216.5)
Capitalized software, net of accumulated amortization$83.0 $75.7 
We have other definite-lived intangible assets, including assets related to the value of reacquired franchise rights resulting from our acquisitions that are included as a component of other assets and definite-lived intangible liabilities related to the value of below-market agreements resulting from our acquisitions that are included in other liabilities on our consolidated balance sheets. Definite-lived intangibles are amortized on a straight-line basis over estimated useful lives of 1 to 20 years. The cost and related accumulated amortization was as follows:
(in millions)May 25, 2025May 26, 2024
Definite-lived intangible assets$30.7 $30.7 
Accumulated amortization(16.4)(14.5)
Definite-lived intangible assets, net of accumulated amortization$14.3 $16.2 
Definite-lived intangible liabilities$(3.0)$(3.0)
Accumulated amortization2.4 2.1 
Definite-lived intangible liabilities, net of accumulated amortization$(0.6)$(0.9)
Amortization expense from continuing operations associated with capitalized software and other definite-lived intangibles included in depreciation and amortization in our accompanying consolidated statements of earnings was as follows:
Fiscal Year Ended
(in millions)May 25, 2025May 26, 2024May 28, 2023
Amortization expense - capitalized software$18.2 $22.9 $18.6 
Amortization expense - other definite-lived intangibles1.8 1.9 1.8 
Based on the net book values of our definite-lived intangible assets and liabilities at May 25, 2025, we expect amortization of capitalized software and other definite-lived intangible assets will be approximately $25.0 million annually for fiscal 2026 through 2030.

Trust-Owned Life Insurance
We have a trust that purchased life insurance policies covering certain of our officers and other key employees (trust-owned life insurance or TOLI). The trust is the owner and sole beneficiary of the TOLI policies. The policies were purchased to offset a portion of our obligations under our non-qualified deferred compensation plan. The cash surrender value for each policy is included in other assets, while changes in cash surrender values are included in general and administrative expenses.

Liquor Licenses
The costs of obtaining non-transferable liquor licenses that are directly issued by local government agencies for nominal fees are expensed as incurred. The costs of purchasing transferable liquor licenses through open markets in jurisdictions with a limited number of authorized liquor licenses are capitalized as indefinite-lived intangible assets and included in other assets. Liquor licenses are reviewed for impairment annually or more frequently if events or changes in circumstances indicate that the carrying amount may not be recoverable. Annual liquor license renewal fees are expensed over the renewal term.
Goodwill and Intangible Assets
Our goodwill and trademark balances are allocated as follows:
GoodwillTrademarks
(in millions)May 25, 2025May 26, 2024May 25, 2025May 26, 2024
Olive Garden $30.2 $30.2 $0.7 $0.7 
LongHorn Steakhouse49.3 49.3 307.8 307.8 
Cheddar’s Scratch Kitchen165.1 165.1 230.1 230.1 
Chuy’s268.4 — 198.4 — 
Yard House369.2 369.2 109.3 109.3 
Ruth’s Chris353.6 353.6 341.7 341.7 
The Capital Grille401.6 401.6 147.4 147.4 
Seasons 52— — 0.5 0.5 
Eddie V’s22.0 22.0 10.5 10.5 
Total$1,659.4 $1,391.0 $1,346.4 $1,148.0 

We have eleven reporting units, eight of which have goodwill and nine of which have trademarks. Goodwill and trademarks are not subject to amortization and have been assigned to reporting units for purposes of impairment testing. The reporting units are our restaurant brands. A significant amount of judgment is involved in determining if an indicator of impairment has occurred. Such indicators may include, among others: a significant decline in our expected future cash flows; a sustained, significant decline in our stock price and market capitalization; a significant adverse change in legal factors or in the business climate; unanticipated competition; the testing for recoverability of a significant asset group within a reporting unit; and slower growth rates. Any adverse change in these factors could have a significant impact on the recoverability of these assets and could have a material impact on our consolidated financial statements. We review our goodwill and trademarks for impairment annually, as of the first day of our fourth fiscal quarter, or more frequently if indicators of impairment exist.

During fiscal 2025, we elected to perform a qualitative assessment for our annual review of goodwill and trademarks to determine whether or not indicators of impairment exist. In considering the qualitative approach related to goodwill, we evaluated factors including, but not limited to, macro-economic conditions, market and industry conditions, commodity cost fluctuations, competitive environment, share price performance, results of prior impairment tests, operational stability, the overall financial performance of the reporting units and the impacts of discount rates. As it relates to trademarks, we evaluate similar factors from the goodwill assessment, in addition to impacts of royalty rates. As a result of the qualitative assessment, no indicators of impairment were identified, and no additional indicators of impairment were identified through the end of our fourth fiscal quarter that would require us to test further for impairment.

We evaluate the useful lives of our other intangible assets to determine if they are definite or indefinite-lived. A determination on useful life requires significant judgments and assumptions regarding the future effects of obsolescence, demand, competition, other economic factors (such as the stability of the industry, legislative action that results in an uncertain or changing regulatory environment and expected changes in distribution channels), the level of required maintenance expenditures and the expected lives of other related groups of assets.
Impairment or Disposal of Long-Lived Assets
Land, buildings and equipment, operating lease right-of-use assets and certain other assets, including definite-lived intangible assets, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of the assets to the future undiscounted net cash flows expected to be generated by the assets. Identifiable cash flows are measured at the lowest level for which they are largely independent of the cash flows of other groups of assets and liabilities, generally at the restaurant level. If such assets are determined to be impaired, the recognized impairment is measured by the amount by which the carrying amount of the assets exceeds their fair value. Fair value is generally determined based on appraisals, sales prices of comparable assets or discounted future net cash flows expected to be generated by the assets. Restaurant sites and certain other assets to be disposed of are reported at the lower of their carrying amount or fair value, less estimated costs to sell, and are included in assets held for sale on our consolidated balance sheets when certain criteria are met. These criteria include, among other factors, the requirement that the likelihood of disposing of these assets within one year is probable. Assets not meeting the “held for sale” criteria remain in land, buildings and equipment until their disposal is probable within one year.
We account for exit or disposal activities, including restaurant closures, in accordance with Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) Topic 420, Exit or Disposal Cost Obligations. Such costs include the
cost of disposing of the assets as well as other facility-related expenses from previously closed restaurants. These costs are generally expensed as incurred. See Note 4 for additional information. For restaurants operated under non-cancellable leases, on the date we commit to a plan to either abandon the related right-of-use (ROU) asset or sublease the underlying asset, we evaluate the ROU asset for potential impairment and determine the go-forward accounting based on the requirements in FASB ASC Topic 842, Leases.
Insurance Accruals
Through the use of insurance program deductibles and self-insurance, we retain a significant portion of expected losses under our workers’ compensation and general liability programs. Accrued liabilities have been recorded based on our estimates of the anticipated ultimate costs to settle all claims, both reported and not yet reported.
Revenue Recognition
Sales, as presented in our consolidated statements of earnings, includes the sale of food and beverage products, royalties from our franchised restaurants and royalties from the sale of consumer product goods. Revenue from restaurant sales is recognized when food and beverage products are sold and is presented net of discounts, coupons, employee meals and complimentary meals. Revenue is presented net of sales tax. Sales taxes collected from customers are included in other accrued taxes on our consolidated balance sheets until the taxes are remitted to governmental authorities.

During the second quarter of fiscal 2025, we entered into an exclusive multi-year delivery arrangement with Uber Technologies, Inc. (Uber). The agreement enables our guests to order delivery via Darden restaurant channels, with delivery handled by Uber. During fiscal 2025, we rolled the program out to nearly all Olive Garden locations and began the rollout to Cheddar’s Scratch Kitchen. Revenue from orders through Company-owned platforms includes delivery fees and is recognized when the delivery partner transfers the order to the guest as the Company controls the delivery. For these sales, the Company receives payment directly from the guest at the time of sale. For all delivery sales, the Company is considered the principal and recognizes revenue on a gross basis.
Franchise royalties, which are a percentage of net sales of franchised restaurants, are recognized as revenue in the period the related sales occur. Revenue from area development and franchise fees are recognized as the performance obligations are satisfied over the term of the franchise agreement, which is generally 10 years. Advertising contributions, which are a percentage of net sales of franchised restaurants, are recognized in the period the related sales occur. Additionally, franchisee purchases of our inventory through our distribution network are recognized as revenue in the period the purchases are made.
Revenue from the sale of consumer packaged goods includes ongoing royalty fees based on a percentage of licensed retail product sales and is recognized upon the sale of product by our licensed manufacturers to retail outlets.
Unearned Revenues
Unearned revenues primarily represent our liability for gift cards that have been sold but not yet redeemed. We recognize sales from our gift cards when the gift card is redeemed by the customer. Although there are no expiration dates or dormancy fees for our gift cards, based on our analysis of our historical gift card redemption patterns, we can reasonably estimate the amount of gift cards for which redemption is remote, which is referred to as “breakage.” We recognize breakage within sales for unused gift card amounts in proportion to actual gift card redemptions. The estimated value of gift cards expected to remain unused is recognized over the expected period of redemption as the remaining gift card values are redeemed, generally over a period of 12 years. Utilizing this method, we estimate both the amount of breakage and the time period of redemption. If actual redemption patterns vary from our estimates, actual gift card breakage income may differ from the amounts recorded. We update our estimates of our redemption period and our breakage rate periodically and apply that rate prospectively to gift card redemptions. Discounts for gift cards sold by third parties are recorded to unearned revenues and are recognized as a reduction to sales over a period that approximates redemption patterns. 
Food and Beverage Costs
Food and beverage costs include inventory, warehousing, related purchasing and distribution costs, and gains and losses on certain commodity derivative contracts. Vendor allowances received in connection with the purchase of a vendor’s products are recognized as a reduction of the related food and beverage costs as earned. For certain contracts, advance payments are made by the vendors based on estimates of volume to be purchased from the vendors and the terms of the agreement. As we make purchases from the vendors each period, we recognize the pro rata portion of allowances earned as a reduction of food and beverage costs for that period. Differences between estimated and actual purchases are settled in accordance with the terms of the agreements. Vendor agreements are generally for a period of one year or more. Pre-payments received from vendors are initially recorded as long-term liabilities. Amounts expected to be earned within one year are recorded as current liabilities. Certain agreements require payments in arrears and are recorded as current receivables.
Income Taxes
We provide for federal and state income taxes currently payable as well as for those deferred because of temporary differences between reporting income and expenses for financial statement purposes versus tax purposes. Federal income tax credits are recorded as a reduction of income taxes. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in earnings in the period that includes the enactment date. Interest recognized on reserves for uncertain tax positions is included in income tax expense in our consolidated statements of earnings. A corresponding liability for accrued interest is included as a component of other current liabilities on our consolidated balance sheets. Interest accrued for refunds due from the taxing jurisdiction is recognized as a reduction to tax expense and a component of taxes payable. Penalties, when incurred, are recognized in general and administrative expenses.
FASB ASC Topic 740, Income Taxes, requires that a position taken or expected to be taken in a tax return be recognized (or derecognized) in the financial statements when it is more likely than not (i.e., a likelihood of more than 50 percent) that the position would be sustained upon examination by tax authorities. A recognized tax position is then measured at the largest amount of benefit that is greater than 50 percent likely of being realized upon ultimate settlement. See Note 13 for additional information.
Derivative Instruments and Hedging Activities
We enter into derivative instruments for risk management purposes only, including derivatives designated as hedging instruments as required by FASB ASC Topic 815, Derivatives and Hedging, and those utilized as economic hedges. We use financial and commodities derivatives to manage interest rate, compensation and commodity and foreign exchange pricing risks inherent in our business operations. Our use of derivative instruments is currently limited to interest rate hedges, equity forward contracts, commodity swaps and foreign exchange forwards. These instruments are generally structured as hedges of the variability of cash flows related to forecasted transactions (cash flow hedges). However, we do at times enter into instruments designated as fair value hedges to reduce our exposure to changes in fair value of the related hedged item. We do not enter into derivative instruments for trading or speculative purposes, where changes in the cash flows or fair value of the derivative are not expected to offset changes in cash flows or fair value of the hedged item. All derivatives are recognized on the balance sheet at fair value. For those derivative instruments for which we intend to elect hedge accounting, on the date the derivative contract is entered into, we document all relationships between hedging instruments and hedged items, as well as our risk-management objective and strategy for undertaking the various hedge transactions. This process includes linking all derivatives designated as cash flow hedges to specific assets and liabilities on the consolidated balance sheet or to specific forecasted transactions. We also formally assess, both at the hedge’s inception and on an ongoing basis, whether the derivatives used in hedging transactions are highly effective in offsetting changes in cash flows of hedged items.
By using these instruments, we expose ourselves, from time to time, to credit risk and market risk. Credit risk is the failure of the counterparty to perform under the terms of the derivative contract. When the fair value of a derivative contract is positive, the counterparty owes us, which creates credit risk for us. We minimize this credit risk by entering into transactions with high quality counterparties. Market risk is the adverse effect on the value of a financial instrument that results from a change in interest rates, commodity prices, or the market price of our common stock. We minimize this market risk by establishing and monitoring parameters that limit the types and degree of market risk that may be undertaken.
To the extent our derivatives are effective in offsetting the variability of the hedged cash flows, and otherwise meet the cash flow hedge accounting criteria required by FASB ASC Topic 815, changes in the derivatives’ fair value are not included in current earnings but are included in accumulated other comprehensive income (loss), net of tax. These changes in fair value will be reclassified into earnings at the time of the forecasted transaction. Ineffectiveness measured in the hedging relationship is recorded currently in earnings in the period in which it occurs. To the extent our derivatives are effective in mitigating changes in fair value, and otherwise meet the fair value hedge accounting criteria required by FASB ASC Topic 815, gains and losses in the derivatives’ fair value are included in current earnings, as are the gains and losses of the related hedged item. To the extent the hedge accounting criteria are not met, the derivative contracts are utilized as economic hedges, and changes in the fair value of such contracts are recorded currently in earnings in the period in which they occur. Cash flows related to derivatives are included in operating activities. See Note 8 for additional information.
Leases
The majority of our restaurant locations, as well as our restaurant support center, are subject to a lease. We evaluate our leases at the commencement of the lease to determine the classification as an operating or finance lease. Upon adoption of FASB ASC Topic 842, we recognized operating and finance lease liabilities based on the present value of minimum lease payments over the remaining expected lease term and corresponding right-of-use assets. We recognize lease expense related to operating leases
on a straight-line basis. Amortization expense and interest expense related to finance leases are included in depreciation and amortization and interest, net, respectively, in our consolidated statements of earnings. Sale-leasebacks are transactions through which we sell assets (such as restaurant properties) at fair value and subsequently lease them back. The resulting leases qualify and are accounted for as operating leases. Failed sale-leaseback transactions are generally classified as finance leases and result in retention of the “sold” assets within land, buildings and equipment with a finance lease liability equal to the amount of proceeds received recorded as a component of other liabilities on our consolidated balance sheets.

Within the provisions of certain of our leases, there are rent holidays and escalations in payments over the base lease term, as well as renewal periods. The effects of the holidays and escalations have been reflected in lease expense on a straight-line basis for operating leases over the expected lease term. The lease term commences on the date when we have the right to control the use of the leased property, which is typically before lease payments are due under the terms of the lease. Many of our leases have renewal periods totaling 5 to 20 years, exercisable at our option, and require payment of property taxes, insurance and maintenance costs in addition to the lease payments. At lease inception, we include option periods that we are reasonably certain to exercise as failure to renew the lease would impose an economic penalty either from the loss of our investment in leasehold improvements or future cash flows from operating the restaurant. The consolidated financial statements reflect the same lease term for amortizing leasehold improvements as we use to determine finance versus operating lease classifications. Variable lease expense is generally based on sales levels and is accrued at the point in time we determine that it is probable that such sales levels will be achieved. Landlord allowances are recorded as an adjustment to the right-of-use assets. Gains and losses on sale-leaseback transactions are recognized immediately. We elected the practical expedient to not separate lease and non-lease components for real estate leases entered into after adoption. See Note 11 for additional information.
Pre-Opening Expenses
Non-capital expenditures associated with opening new restaurants are expensed as incurred; these costs consist of expense incurred before the opening of a new, relocated or converted restaurant and include occupancy, labor, travel, training, food, beverage and other initial supplies and expenses. These costs are reported as pre-opening costs in our consolidated statements of earnings.
Advertising
Production costs of commercials are expensed in the fiscal period the advertising is first aired while the costs of programming and other advertising, promotion and marketing programs are expensed as incurred. These costs are reported as marketing expenses in our consolidated statements of earnings.
Stock-Based Compensation
We recognize the cost of employee service received in exchange for awards of equity instruments based on the grant date fair value of those awards. We recognize compensation expense, net of estimated forfeitures, on a straight-line basis over the employee service period for awards granted. We utilize the Black-Scholes option pricing model to estimate the fair value of stock option awards. The dividend yield has been estimated based upon our historical results and expectations for changes in dividend rates. The expected volatility was determined using historical stock prices. The risk-free interest rate was the rate available on zero coupon U.S. government obligations with a term approximating the expected life of each grant. The expected life was estimated based on the exercise history of previous grants, taking into consideration the remaining contractual period for outstanding awards. We utilize a Monte Carlo simulation to estimate the fair value of our market-based equity-settled performance awards. The dividend yield assumes reinvestment of dividends. The expected volatility was determined using historical stock prices. The risk-free interest rate was the rate available on zero coupon U.S. government obligations with a term approximating the expected life of each grant. The expected life was estimated based on the performance measurement period for outstanding awards. See Note 15 for further information.

Net Earnings per Share
Basic net earnings per share are computed by dividing net earnings by the weighted-average number of common shares outstanding for the reporting period. Diluted net earnings per share reflect the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock. Outstanding stock options, restricted stock units and equity-settled performance stock units granted by us represent the only dilutive effect reflected in diluted weighted-average shares outstanding. These stock-based compensation instruments do not impact the numerator of the diluted net earnings per share computation.
The following table presents the computation of basic and diluted net earnings per common share:
Fiscal Year Ended
(in millions, except per share data)May 25, 2025May 26, 2024May 28, 2023
Earnings from continuing operations$1,051.0 $1,030.5 $983.5 
Losses from discontinued operations(1.4)(2.9)(1.6)
Net earnings$1,049.6 $1,027.6 $981.9 
Weighted average common shares outstanding – Basic117.5 119.9 121.9 
Effect of dilutive stock-based compensation0.9 0.9 1.0 
Weighted average common shares outstanding – Diluted118.4 120.8 122.9 
Basic net earnings per share:
Earnings from continuing operations$8.94 $8.59 $8.07 
Losses from discontinued operations(0.01)(0.02)(0.01)
Net earnings$8.93 $8.57 $8.06 
Diluted net earnings per share:
Earnings from continuing operations$8.88 $8.53 $8.00 
Losses from discontinued operations(0.02)(0.02)(0.01)
Net earnings$8.86 $8.51 $7.99 
Stock options, restricted stock units and equity-settled performance stock units excluded from the calculation of diluted net earnings per share because the effect would have been anti-dilutive, are as follows:
Fiscal Year Ended
(in millions)May 25, 2025May 26, 2024May 28, 2023
Anti-dilutive stock-based compensation awards0.1 0.1 0.3 
Foreign Currency
The Canadian dollar is the functional currency for our Canadian restaurant operations. Assets and liabilities denominated in foreign currencies are translated into U.S. dollars using the exchange rates in effect at the balance sheet date. Results of operations are translated using the average exchange rates prevailing throughout the period. Translation gains and losses are reported as a separate component of other comprehensive income (loss). Aggregate cumulative translation gains (losses) were $4.6 million at May 25, 2025 and May 26, 2024, respectively. Net gains (losses) from foreign currency transactions recognized in our consolidated statements of earnings were $0.0 million for fiscal 2025, 2024 and 2023, respectively.
Recently Issued Accounting Standards Adopted
As of May 25, 2025, we adopted Accounting Standards Update (ASU) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which updates reportable segment disclosure requirements primarily through enhanced disclosures about significant segment expenses. The adoption of ASU 2023-07 did not impact the Company’s results of operations, cash flow, or financial condition. See Note 6 for the Company’s segment disclosures.
Recently Issued Accounting Standards Not Yet Adopted
In December 2023, the Financial Accounting Standards Board (FASB) issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which updates income tax disclosures related to the rate reconciliation and requires disclosure of income taxes paid by jurisdiction. The amendment also provides further disclosure comparability. The amendments are effective for fiscal years beginning after December 15, 2024. Early adoption is permitted. The amendments should be applied prospectively; however, retrospective application is permitted. Management is currently evaluating this ASU to determine its impact on the Company’s disclosures. We plan to adopt in the fourth quarter of fiscal 2026.

In March 2024, the U.S. Securities and Exchange Commission (SEC) adopted its final rules intended to enhance and standardize climate-related disclosures in registration statements and annual reports. The new rules will require disclosure of material climate-related risks, including disclosure of Board of Directors’ oversight and risk management activities, the material impacts of these risks to the Company and the quantification of material impacts to the Company as a result of severe weather
events and other natural conditions. The rules also require disclosure of material greenhouse gas emissions and any material climate-rated targets and goals. The new rules will be effective for annual reporting periods beginning in fiscal year 2026, except for the greenhouse gas emissions disclosures which will be effective for annual reporting periods beginning in fiscal year 2027. On April 4, 2024, the SEC issued a voluntary stay on its final rules until legal challenges to the rules are addressed, and on March 27, 2025, the SEC voted to end its defense of the rules requiring disclosure of climate-related risk and greenhouse gas emissions and withdrew from the litigation. The Company continues to monitor the status of these rules.

In November 2024, the FASB issued ASU 2024-03, Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses, which requires detailed disclosure amounts for purchases of inventory, employee compensation, depreciation, and intangible asset amortization in each relevant expense caption on the income statement. The ASU requires companies to include amounts already required by GAAP in the same disclosure, provide a qualitative description of remaining amounts not separately disaggregated, and disclose the total selling expenses along with the definition of selling expenses in annual reports. The amendment is effective for fiscal years beginning after December 15, 2026. Early adoption is permitted. The amendment should be applied prospectively; however, retrospective application is permitted. Management is currently evaluating this ASU to determine its impact on the Company’s disclosures. We plan to adopt in in fiscal 2028.
v3.25.2
ACQUISITION OF CHUY’S
 12 Months Ended
May 25, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
ACQUISITION OF CHUY’S ACQUISITION OF CHUY’S
On October 11, 2024, we acquired 100 percent of the equity interest of Chuy’s in an all-cash transaction of $649.1 million in total consideration, $613.7 million in net cash consideration, inclusive of the $35.4 million of cash on Chuy’s Holdings balance sheet at closing. We financed the acquisition with a portion of the proceeds from the issuance of a $400.0 million aggregate principal amount of 4.350 percent senior notes due 2027 and a $350.0 million aggregate principal amount of 4.550 percent senior notes due 2029, which were issued on October 3, 2024. See Note 7 for additional information.

The acquired operations of Chuy’s included 103 company-owned locations. The results of Chuy’s operations are included in our consolidated financial statements from the date of acquisition.

The assets and liabilities of Chuy’s were recorded at their respective fair values as of the date of acquisition. We have determined the fair value of these assets, including land, buildings and equipment, and intangible assets, and liabilities, through internal studies and third-party valuations. The fair values set forth below are based on the results of those valuations. As of fiscal year ended May 25, 2025, we are pending additional information related to income tax assets and liabilities and as a result, those numbers are subject to adjustment in fiscal 2026.

The allocation of the purchase price as of fiscal year ended May 25, 2025 is as follows:
Balances atAdjustments since acquisitionBalances at
(in millions)October 11, 2024May 25, 2025
Cash and cash equivalents$35.4 $— $35.4 
Other current assets10.9 (0.4)10.5 
Land, buildings and equipment204.3 (7.0)197.3 
Operating lease right-of-use assets337.7 (5.8)331.9 
Trademark198.4 — 198.4 
Other assets6.1 — 6.1 
Goodwill262.9 5.5 268.4 
     Total assets acquired$1,055.7 $(7.7)$1,048.0 
Current liabilities35.2 (0.8)34.4 
Deferred income taxes43.0 (0.1)42.9 
Operating lease liabilities - non-current328.4 (6.8)321.6 
     Total liabilities assumed$406.6 $(7.7)$398.9 
Net assets acquired$649.1 $— $649.1 
The excess of the purchase price over the aggregate fair value of net assets acquired was allocated to goodwill in the amount of $268.4 million. The portion of the purchase price attributable to goodwill represents benefits expected because of the acquisition, including sales and unit growth opportunities in addition to supply-chain and support-cost synergies. The trademark has an indefinite life based on the expected use of the asset and the regulatory and economic environment within which it is being used. The trademark represents a highly respected brand with positive connotations, and we intend to cultivate and protect the use of this brand. Goodwill and indefinite-lived trademarks are not amortized but are reviewed annually for impairment or more frequently if indicators of impairment exist. Buildings and equipment will be depreciated over a period of 1-30 years.

As a result of the acquisition and related integration efforts, we incurred expenses of $44.6 million ($36.7 million, net of tax) during the twelve months ended May 25, 2025, which are included in general and administrative expenses and interest expense in our consolidated statements of earnings. Pro-forma financial information of the combined entities for periods prior to the acquisition is not presented due to the immaterial impact of the financial results of Chuy’s on our consolidated financial statements.
v3.25.2
REVENUE RECOGNITION
 12 Months Ended
May 25, 2025
Revenue from Contract with Customer [Abstract]  
REVENUE RECOGNITION REVENUE RECOGNITION
Deferred revenue liabilities from contracts with customers included on our accompanying consolidated balance sheets is comprised of the following:
(in millions)May 25, 2025May 26, 2024
Unearned revenues
Deferred gift card revenue$628.8 $620.6 
Deferred gift card discounts(30.1)(29.5)
Other0.7 0.7 
Total$599.4 $591.8 
Other liabilities
Deferred franchise fees - non-current$5.3 $4.9 
The following table presents a rollforward of deferred gift card revenue: 
Fiscal Year Ended
(in millions)May 25, 2025May 26, 2024
Beginning balance$620.6 $537.0 
Acquired deferred gift card revenue2.6 61.8 
Activations737.0 753.7 
Redemptions and breakage(731.4)(731.9)
Ending balance$628.8 $620.6 
v3.25.2
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.
v3.25.2
LAND, BUILDINGS AND EQUIPMENT, NET
 12 Months Ended
May 25, 2025
Property, Plant and Equipment, Net [Abstract]  
LAND, BUILDINGS AND EQUIPMENT, NET LAND, BUILDINGS AND EQUIPMENT, NET
The components of land, buildings and equipment, net, are as follows:
(in millions)May 25, 2025May 26, 2024
Land$158.8 $132.9 
Buildings4,328.9 4,034.5 
Equipment2,569.6 2,345.4 
Assets under finance leases1,490.3 1,252.3 
Construction in progress234.8 179.1 
Total land, buildings and equipment$8,782.4 $7,944.2 
Less accumulated depreciation and amortization(3,870.3)(3,613.9)
Less amortization associated with assets under finance leases(196.1)(146.0)
Land, buildings and equipment, net$4,716.0 $4,184.3 
v3.25.2
SEGMENT INFORMATION
 12 Months Ended
May 25, 2025
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
We manage our restaurant brands, Olive Garden, LongHorn Steakhouse, Cheddar’s Scratch Kitchen, Chuy’s, Yard House, Ruth’s Chris, The Capital Grille, Seasons 52, Eddie V’s, Bahama Breeze and The Capital Burger in North America as operating segments. The brands operate principally in the U.S. within full-service dining. We aggregate our operating segments into reportable segments based on a combination of the size, economic characteristics and sub-segment of full-service dining within which each brand operates. We have four reportable segments: (1) Olive Garden, (2) LongHorn Steakhouse, (3) Fine Dining and (4) Other Business.

The Olive Garden segment includes the results of our company-owned Olive Garden restaurants in the U.S. and Canada. The LongHorn Steakhouse segment includes the results of our company-owned LongHorn Steakhouse restaurants in the U.S. The Fine Dining segment aggregates our premium brands that operate within the fine-dining sub-segment of full-service dining and includes the results of our company-owned Ruth’s Chris, The Capital Grille and Eddie V’s restaurants in the U.S. The Other Business segment aggregates our remaining brands and includes the results of our company-owned Cheddar’s Scratch Kitchen, Chuy’s, Yard House, Seasons 52, Bahama Breeze and The Capital Burger restaurants in the U.S and ongoing royalties and other fees from our franchise operations and contractually managed locations.

External sales are derived principally from food and beverage sales. We do not rely on any major customers as a source of sales, and the customers and long-lived assets of our reportable segments are predominantly in the U.S. There were no material transactions among reportable segments.

Resources are allocated and performance is assessed by the Company’s President and Chief Executive Officer, whom the Company has determined to be its Chief Operating Decision Maker (CODM). Our CODM uses segment profit as the measure for assessing performance of our segments. Segment profit includes revenues and expenses directly attributable to restaurant-level results of operations (sometimes referred to as restaurant-level earnings). Non-cash lease-related expenses from our operating segments are recorded to the corporate level as restaurant expenses (which is a component of segment profit) and depreciation and amortization. Additionally, our lease-related right-of-use assets are not managed or evaluated at the operating segment level, but
rather at the corporate level.

During the fourth quarter of 2025, we changed our reporting of segment profit to exclude pre-opening costs in order to better align with our internal reporting and provide a better representation of restaurant-level operating costs. Fiscal 2024 and 2023 figures were recast for comparability.

The following tables reconcile our segment results to our consolidated results reported in accordance with GAAP:

(in millions)Olive GardenLongHorn SteakhouseFine DiningOther BusinessCorporateConsolidated
At May 25, 2025 and for the year ended
Sales$5,212.9 $3,025.5 $1,304.8 $2,533.5 $— $12,076.7 
Food and beverage1,253.8 1,244.6 414.5 744.1 — 3,657.0 
Restaurant labor1,822.1 780.7 367.7 862.6 — 3,833.1 
Restaurant expenses846.4 408.2 270.8 504.8 (86.2)1,944.0 
Marketing126.7 9.3 9.3 24.6 — 169.9 
Segment profit$1,163.9 $582.7 $242.5 $397.4 $86.2 $2,472.7 
Depreciation and amortization$186.0 $84.3 $70.0 $119.0 $56.8 $516.1 
Impairments and disposal of assets, net(1.5)— 8.0 42.0 0.7 49.2 
Pre-opening costs6.5 6.1 3.8 5.4 3.0 24.8 
Segment assets2,880.5 2,077.1 2,623.5 3,821.0 1,184.9 12,587.0 
Purchases of land, buildings and equipment252.0 144.7 96.3 146.8 4.8 644.6 
(in millions)Olive GardenLongHorn SteakhouseFine DiningOther BusinessCorporateConsolidated
At May 26, 2024 and for the year ended
Sales$5,067.0 $2,806.2 $1,291.5 $2,225.3 $— $11,390.0 
Food and beverage1,242.7 1,180.6 425.2 675.4 — 3,523.9 
Restaurant labor1,783.1 725.1 351.9 759.2 — 3,619.3 
Restaurant expenses812.6 377.3 259.7 433.2 (70.5)1,812.3 
Marketing111.2 6.4 9.7 17.2 — 144.5 
Segment profit$1,117.4 $516.8 $245.0 $340.3 $70.5 $2,290.0 
Depreciation and amortization$167.7 $75.8 $65.9 $102.5 $48.0 $459.9 
Impairments and disposal of assets, net0.2 0.7 — — 11.5 12.4 
Pre-opening costs7.2 5.7 4.0 3.3 4.1 24.3 
Segment assets2,862.4 2,025.7 2,596.5 2,901.1 937.3 11,323.0 
Purchases of land, buildings and equipment260.7 127.4 118.1 97.9 (2.9)601.2 
(in millions)Olive GardenLongHorn SteakhouseFine DiningOther BusinessCorporateConsolidated
At May 28, 2023 and for the year ended
Sales$4,877.8 $2,612.3 $830.8 $2,166.9 $— $10,487.8 
Food and beverage1,243.1 1,126.8 290.7 695.3 — 3,355.9 
Restaurant labor1,716.8 682.0 217.5 730.0 — 3,346.3 
Restaurant expenses788.1 361.4 159.2 422.5 (54.9)1,676.3 
Marketing96.1 5.1 3.6 13.5 — 118.3 
Segment profit$1,033.7 $437.0 $159.8 $305.6 $54.9 $1,991.0 
Depreciation and amortization$146.5 $67.7 $35.6 $96.8 $41.2 $387.8 
Impairments and disposal of assets, net— (3.3)— — (7.3)(10.6)
Pre-opening costs7.9 6.1 1.3 5.0 5.6 25.9 
Purchases of land, buildings and equipment252.5 114.0 57.2 119.6 21.6 564.9 
Fiscal Year Ended
(in millions)May 25, 2025May 26, 2024May 28, 2023
Segment profit$2,472.7 $2,290.0 $1,991.0 
Less general and administrative expenses(520.3)(479.2)(386.1)
Less depreciation and amortization(516.1)(459.9)(387.8)
Less impairments and disposal of assets, net(49.2)(12.4)10.6 
Less pre-opening costs(24.8)(24.3)(25.9)
Less interest, net(175.1)(138.7)(81.3)
Earnings before income taxes$1,187.2 $1,175.5 $1,120.5 
v3.25.2
DEBT
 12 Months Ended
May 25, 2025
Debt Disclosure [Abstract]  
DEBT DEBT
The components of long-term debt are as follows:
(in millions)May 25, 2025May 26, 2024
3.850% senior notes due May 2027
$500.0 $500.0 
4.350% senior notes due October 2027
400.0 — 
4.550% senior notes due October 2029
350.0 — 
6.300% senior notes due October 2033
500.0 500.0 
6.000% senior notes due August 2035
96.3 96.3 
6.800% senior notes due October 2037
42.8 42.8 
4.550% senior notes due February 2048
300.0 300.0 
Total long-term debt$2,189.1 $1,439.1 
Fair value hedge(40.0)(51.8)
Less unamortized discount and issuance costs(20.2)(16.9)
Total long-term debt less unamortized discount and issuance costs$2,128.9 $1,370.4 

The aggregate contractual maturities of long-term debt for each of the five fiscal years subsequent to May 25, 2025, and thereafter are as follows:
(in millions)
Fiscal Year20262027202820292030Thereafter
Debt repayments$— $500.0 $400.0 $— $350.0 $939.1 
On October 23, 2023, we entered into a $1.25 billion Revolving Credit Agreement (Revolving Credit Agreement) with Bank of America, N.A. (BOA), as administrative agent, and the lenders and other agents party thereto. The Revolving Credit
Agreement is a senior unsecured credit commitment to the Company and contains customary representations and affirmative and negative covenants (including limitations on liens and subsidiary debt and a maximum consolidated lease adjusted total debt to total capitalization ratio of 0.75 to 1.00) and events of default usual for credit facilities of this type, and consistent with our Prior Revolving Credit Agreement. As of May 25, 2025, we had no outstanding balances under the Revolving Credit Agreement. As of May 25, 2025, $0.2 million of letters of credit were outstanding, which are backed by this facility. After consideration of letters of credit backed by the Revolving Credit Agreement, as of May 25, 2025, we had $1.25 billion of credit available under the Revolving Credit Agreement.
Loans under the Revolving Credit Agreement bear interest at a rate of (a) Term SOFR (which is defined, for the applicable interest period, as the Term SOFR Screen Rate two U.S. Government Securities Business Days prior to the commencement of such interest period with a term equivalent to such interest period) plus a Term SOFR adjustment of 0.100 percent plus the relevant margin determined by reference to a ratings-based pricing grid (Applicable Margin), or (b) the base rate (which is defined as the highest of the BOA prime rate, the Federal Funds rate plus 0.500 percent, and the Term SOFR plus 1.000 percent) plus the relevant Applicable Margin. Assuming a “BBB” equivalent credit rating level, the Applicable Margin under the Revolving Credit Agreement is 1.000 percent for Term SOFR loans and 0.000 percent for base rate loans.
On September 16, 2024, we entered into Amendment No. 1 (Amendment) to the Revolving Credit Agreement, which replaced the prior financial covenant (which provided for a maximum consolidated total debt to total capitalization ratio) with a new financial covenant requiring us to maintain, measured as of the end of each fiscal quarter, a maximum consolidated leverage ratio of 3.50 to 1.00 (which may be temporarily increased to 4.00 to 1.00 upon the election as a result of a covered acquisition, subject to customary limitations set forth in the Revolving Credit Agreement). All other material terms and conditions of the Revolving Credit Agreement were unchanged.
The Revolving Credit Agreement matures on October 23, 2028, and the proceeds may be used for working capital and capital expenditures, the refinancing of certain indebtedness, certain acquisitions and general corporate purposes.
On September 16, 2024, we entered into a senior unsecured $600 million 2-year Term Loan Credit Agreement (Term Loan Agreement) with BOA, as administrative agent, the lenders and other agents party thereto, the material terms of which were consistent with the Revolving Credit Agreement. The intended use of the proceeds was to finance our acquisition of Chuy’s, and we subsequently terminated the Term Loan Agreement on October 3, 2024, in connection with the closing of our senior notes issuance discussed below. We did not draw any funds and there were never any outstanding borrowings under the Term Loan Agreement.
On October 3, 2024, we issued and sold $400.0 million aggregate principal amount of 4.350 percent Senior Notes due 2027 (2027 Notes) and $350 million aggregate principal amount of 4.550 percent Senior Notes due 2029 (2029 Notes and, together with the 2027 Notes, the Notes), pursuant to the provisions of the Underwriting Agreement, dated September 30, 2024, among the Company and BofA Securities, Inc., Truist Securities, Inc., U.S. Bancorp Investments, Inc. and Wells Fargo Securities, LLC, as representatives of the several underwriters named therein. The Notes were issued under the Company’s Indenture, dated as of January 1, 1996, between the Company and Computershare Trust Company, National Association (as successor to Wells Fargo Bank, National Association, successor to Wells Fargo Bank Minnesota, National Association, formerly known as Norwest Bank Minnesota, National Association), as trustee (Base Trustee), as amended and supplemented by the Second Supplemental Indenture, dated as of October 4, 2023, among the Company, the Base Trustee and U.S. Bank Trust Company, National Association, as a successor trustee with respect to the Notes. We used the proceeds from our issuance of the Notes to finance our acquisition of Chuy’s and for general corporate purposes.
The 2027 Notes will mature on October 15, 2027, and the 2029 Notes will mature on October 15, 2029. Interest on the Notes will be paid semi-annually in arrears on April 15 and October 15 of each year, commencing on April 15, 2025, to holders of record on the preceding March 31 or September 30, as the case may be.
The interest rate on our $42.8 million 6.800 percent senior notes due October 2037 is subject to adjustment from time to time if the debt rating assigned to such series of notes is downgraded below a certain rating level (or subsequently upgraded). The maximum adjustment is 2.000 percent above the initial interest rate and the interest rate cannot be reduced below the initial interest rate. As of May 25, 2025, no such adjustments are made to this rate.
v3.25.2
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES
 12 Months Ended
May 25, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES
We designate commodity contracts, equity forward contracts and foreign exchange forward contracts as cash flow hedging instruments. Our interest rate swap agreements are designated as fair value hedges of the related debt. During the first quarter of fiscal 2025, we entered into a contract designated as a cash flow hedge of the benchmark interest rate on the debt expected to be
issued during the second quarter of fiscal 2025. Upon issuance of the debt, we settled this contract which resulted in a $1.9 million loss recorded as a component of interest expense due to the immateriality of the loss. Further, we entered into equity forward contracts to hedge the risk of changes in future cash flows associated with recognized, employee-directed investments in our common stock within the non-qualified deferred compensation plan. We did not elect hedge accounting with the expectation that changes in the fair value of the equity forward contracts would offset changes in the fair value of our common stock investments in the non-qualified deferred compensation plan. Refer to Note 1 for further details on the derivative instruments and hedging activities accounting policy.
The notional and fair values of our derivative contracts are as follows:
Fair Values
(in millions, except
per share data)		Number of Shares OutstandingWeighted-Average
 Per Share Forward Rates		Notional ValuesDerivative Assets (1)Derivative Liabilities (1)
May 25, 2025May 25, 2025May 26, 2024May 25, 2025May 26, 2024
Equity Forwards
Designated
0.2 $145.57 $23.7 $— $— $0.8 $0.8 
Not designated
0.4 $139.89 $61.7 — — 2.2 2.4 
Total equity forwards (2)$— $— $3.0 $3.2 
Commodity contracts
     DesignatedN/AN/A$13.8 $— $0.1 $0.9 $0.7 
     Not designatedN/AN/A$— — — — — 
Total commodity contracts (3)$— $0.1 $0.9 $0.7 
Interest rate related
     DesignatedN/AN/A$300.0 $— $— $40.0 $51.8 
     Not designatedN/AN/A$— $— $— $— 
Total interest rate related$— $— $40.0 $51.8 
Foreign Exchange Forwards
DesignatedN/AN/A$18.0 $— $— $0.2 $— 
Not designatedN/AN/A$— $— $— $— 
Total foreign exchange forwards (4)$— $— $0.2 $— 
Total derivative contracts$— $0.1 $44.1 $55.7 
(1)Derivative assets and liabilities are included in receivables, net, and other current liabilities, as applicable, on our consolidated balance sheets.
(2)Designated and undesignated equity forwards extend through July 2028.
(3)Commodity contracts extend through June 2026.
(4)Foreign exchange forwards extend through July 2025.
The effects of derivative instruments in cash flow hedging relationships in the consolidated statements of earnings are as follows:
Amount of Gain (Loss) Recognized in AOCIAmount of Gain (Loss) Reclassified from AOCI to Earnings
Fiscal Year EndedFiscal Year Ended
(in millions)May 25, 2025May 26, 2024May 28, 2023May 25, 2025May 26, 2024May 28, 2023
Equity (1)$9.0 $(6.4)$8.0 $0.1 $1.3 $(0.8)
Commodity (2)(1.9)(1.9)(9.2)(1.6)(6.9)(3.1)
Interest rate (3)— 34.9 — 3.4 2.2 (0.1)
Foreign exchange(0.2)— — — — — 
Total$6.9 $26.6 $(1.2)$1.9 $(3.4)$(4.0)
(1)Location of the gain (loss) reclassified from AOCI to earnings is general and administrative expenses.
(2)Location of the gain (loss) reclassified from AOCI to earnings is food and beverage costs and restaurant expenses.
(3)Location of the gain (loss) reclassified from AOCI to earnings is interest, net.

The effects of derivative instruments in fair value hedging relationships in the consolidated statements of earnings are as follows:

Amount of Gain (Loss) Recognized in Earnings on DerivativesAmount of Gain (Loss) Recognized in Earnings on Related Hedged Item
Fiscal Year EndedFiscal Year Ended
(in millions)May 25, 2025May 26, 2024May 28, 2023May 25, 2025May 26, 2024May 28, 2023
Interest rate (1)(2)$11.8 $(6.4)$(17.4)$(11.8)$6.4 $17.4 

(1) Location of the gain (loss) recognized in earnings on derivatives and related hedged item is interest, net.
(2) Hedged item in fair value hedge relationship is debt.

The effects of derivatives not designated as hedging instruments in the consolidated statements of earnings are as follows:
Amount of Gain (Loss)
Recognized in Earnings
(in millions)Fiscal Year Ended
Location of Gain (Loss) Recognized in Earnings on DerivativesMay 25, 2025May 26, 2024May 28, 2023
General and administrative expenses25.6 (3.1)18.3 
Based on the fair value of our derivative instruments designated as cash flow hedges as of May 25, 2025, we expect to reclassify $3.1 million of net gains on derivative instruments from accumulated other comprehensive income (loss) to earnings during the next 12 months based on the maturity of equity forward, commodity, and interest rate contracts. However, the amounts ultimately realized in earnings will be dependent on the fair value of the contracts on the settlement dates.
v3.25.2
FAIR VALUE MEASUREMENTS
 12 Months Ended
May 25, 2025
Fair Value Disclosures [Abstract]  
FAIR VALUE MEASUREMENTS FAIR VALUE MEASUREMENTS
The fair values of cash equivalents, receivables, net, accounts payable and short-term debt approximate their carrying amounts due to their short duration.
The following tables summarize the fair values of financial instruments measured at fair value on a recurring basis at May 25, 2025 and May 26, 2024:
Items Measured at Fair Value at May 25, 2025
(in millions)Fair Value
of Assets
(Liabilities)		Quoted Prices
in Active
Market for
Identical Assets
(Liabilities)
(Level 1)		Significant
Other
Observable
Inputs
(Level 2)		Significant
Unobservable Inputs
(Level 3)
Derivatives:
Commodities futures, swaps & options(1)$(0.9)$— $(0.9)$— 
Equity forwards(2)(3.0)— (3.0)— 
Interest rate swaps(3)(40.0)— (40.0)— 
Foreign exchange forwards(4)(0.2)(0.2)
Total$(44.1)$— $(44.1)$— 
Items Measured at Fair Value at May 26, 2024
(in millions)Fair Value
of Assets
(Liabilities)		Quoted Prices
in Active
Market for
Identical Assets
(Liabilities)
(Level 1)		Significant
Other
Observable
Inputs
(Level 2)		Significant
Unobservable Inputs
    (Level 3)    
Derivatives:
Commodities futures, swaps & options(1)$(0.6)$— $(0.6)$— 
Equity forwards(2)(3.2)— (3.2)— 
Interest rate swaps(3)(51.8)— (51.8)— 
Total$(55.6)$— $(55.6)$— 
(1)The fair value of our commodities futures, swaps and options is based on closing market prices of the contracts, inclusive of the risk of nonperformance.
(2)The fair value of equity forwards is based on the closing market value of Darden stock, inclusive of the risk of nonperformance.
(3)The fair value of our interest rate swap agreements is based on current and expected market interest rates, inclusive of the risk of nonperformance.
(4)The fair value of our foreign exchange forwards is based on closing forward exchange market prices, inclusive of the risk of nonperformance.

The carrying value and fair value of long-term debt, as of May 25, 2025, was $2.13 billion. The carrying value and fair value of long-term debt as of May 26, 2024, was $1.37 billion. The fair value of long-term debt, which is classified as Level 2 in the fair value hierarchy, is determined based on market prices or, if market prices are not available, the present value of the underlying cash flows discounted at our incremental borrowing rates.

The fair value of non-financial assets measured at fair value on a non-recurring basis, classified as Level 2 in the fair value hierarchy, is generally determined based on third-party market appraisals which includes market data for similar assets. As of May 25, 2025 and May 26, 2024, adjustments to the fair values of non-financial assets measured at fair value on a non-recurring basis, classified as Level 2, were not material.

The fair value of non-financial assets measured at fair value on a non-recurring basis, classified as Level 3 in the fair value hierarchy, is determined based on appraisals, sales prices of comparable assets, or estimates of discounted future cash flows. As of May 25, 2025, adjustments to the fair values of non-financial assets specifically right-of-use assets, classified as Level 3, were determined to have a fair value of $8.0 million. As of May 26, 2024, adjustments to the fair values of long-lived assets held and used were determined to have a fair value of $1.5 million.
v3.25.2
STOCKHOLDERS' EQUITY
 12 Months Ended
May 25, 2025
Stockholders' Equity Note [Abstract]  
STOCKHOLDERS' EQUITY STOCKHOLDERS’ EQUITY
Share Repurchase Program
All of the shares purchased during the fiscal year ended May 25, 2025 were purchased as part of our repurchase program authorized by our Board of Directors. On June 18, 2025, our Board of Directors authorized a new share repurchase program under which we may repurchase up to $1.0 billion of our outstanding common stock. This repurchase program, which was announced publicly in a press release issued on June 20, 2025 does not have an expiration date and replaces the previously existing share repurchase authorization.
Share Retirements
As of May 25, 2025, of the 213.3 million cumulative shares repurchased under the current and previous authorizations, 201.9 million shares were retired and restored to authorized but unissued shares of common stock and there are no remaining treasury shares. We expect that all shares of common stock acquired in the future will also be retired and restored to authorized but unissued shares of common stock.

Accumulated Other Comprehensive Income (Loss)
The components of accumulated other comprehensive income (loss), net of tax, are as follows:
(in millions)Foreign Currency Translation AdjustmentUnrealized Gains (Losses) on DerivativesBenefit Plan Funding PositionAccumulated Other Comprehensive Income (Loss)
Balances at May 28, 2023$4.5 $3.9 $(5.2)$3.2 
Gain (loss)0.1 18.4 1.1 19.6 
Reclassification realized in net earnings— 2.2 0.6 2.8 
Balances at May 26, 2024$4.6 $24.5 $(3.5)$25.6 
Gain (loss)— 7.4 (0.2)7.2 
Reclassification realized in net earnings— (1.5)0.5 (1.0)
Balances at May 25, 2025$4.6 $30.4 $(3.2)$31.8 
The following table presents the amounts and line items in our consolidated statements of earnings where other adjustments reclassified from AOCI into net earnings were recorded:
Fiscal Year Ended
(in millions)
AOCI Components		Location of Gain (Loss) Recognized in EarningsMay 25,
2025		May 26,
2024
Derivatives
Commodity contracts
(1)$(1.6)$(6.9)
Equity contracts
(2)0.1 1.3 
Interest rate contracts
(3)3.4 2.2 
Total before tax$1.9 $(3.4)
Tax benefit(0.4)1.2 
Net of tax$1.5 $(2.2)

Fiscal Year Ended
(in millions)
AOCI Components		Location of Gain (Loss) Recognized in EarningsMay 25,
2025		May 26,
2024
Benefit plan funding position
Pension/postretirement plans- actuarial losses(4)$— $(0.1)
Recognized net actuarial gain (loss) - other plans(5)(0.7)(0.7)
Total before tax$(0.7)$(0.8)
Tax benefit0.2 0.2 
Net of tax$(0.5)$(0.6)

(1)Primarily included in food and beverage costs and restaurant expenses. See Note 8 for additional details.
(2)Included in general and administrative expenses. See Note 8 for additional details.
(3)Included in interest, net, on our consolidated statements of earnings.
(4)Included in the computation of net periodic benefit costs - pension and postretirement plans, which is a component of other (income) expense, net, restaurant labor expenses and general and administrative expenses. See Note 14 for additional details.
(5)Included in the computation of net periodic benefit costs - other plans, which is a component of restaurant labor, and general and administrative expenses.
v3.25.2
LEASES
 12 Months Ended
May 25, 2025
Leases [Abstract]  
LEASES LEASES
The components of lease expense for continuing operations in the consolidated statements of earnings for the fiscal years ended May 25, 2025, May 26, 2024 and May 28, 2023 are as follows:
(in millions)May 25, 2025May 26, 2024May 28, 2023
Operating lease expense$413.7 $404.6 $377.9 
Finance lease expense
Amortization of leased assets57.2 48.1 41.2 
Interest on lease liabilities67.7 54.2 44.3 
Variable lease expense35.6 34.6 22.6 
Total lease expense$574.2 $541.5 $486.0 
The components of lease assets and liabilities on the consolidated balance sheet as of May 25, 2025 and May 26, 2024 are as follows:
(in millions)Balance Sheet ClassificationMay 25, 2025May 26, 2024
Operating lease right-of-use assetsOperating lease right-of-use assets$3,555.9 $3,429.3 
Finance lease right-of-use assetsLand, buildings and equipment, net1,294.2 1,106.3 
Total lease assets, net$4,850.1 $4,535.6 
Operating lease liabilities - currentOther current liabilities$220.1 $198.8 
Finance lease liabilities - currentOther current liabilities23.8 15.3 
Operating lease liabilities - non-currentOperating lease liabilities - non-current3,816.9 3,704.7 
Finance lease liabilities - non-currentOther liabilities1,583.8 1,357.1 
Total lease liabilities$5,644.6 $5,275.9 

Supplemental cash flow information related to leases for the fiscal years ended May 25, 2025, May 26, 2024 and May 28, 2023:
(in millions)May 25, 2025May 26, 2024May 28, 2023
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases (1)$410.4 $397.2 $367.6 
Operating cash flows from finance leases67.7 54.2 44.3 
Financing cash flows from finance leases (1) 22.8 22.0 19.8 
Right-of-use assets obtained in exchange for new operating lease liabilities (2)373.0 341.2 131.5 
Right-of-use assets obtained in exchange for new finance lease liabilities152.8 97.3 75.1 
Net change in right-of-use assets mainly due to lease modifications resulting in reclassification of leases from operating to finance81.5 49.886.3
(1) Excludes cash received for any lease incentives.
(2) Right-of-use assets obtained in fiscal 2025 and fiscal 2024 includes $331.9 million from the acquisition of Chuy’s and $303.4 million from the acquisition of Ruth’s Chris, respectively.
The weighted-average remaining lease terms and discount rates as of May 25, 2025 and May 26, 2024 are as follows:
(in millions)May 25, 2025May 26, 2024
Weighted-Average Remaining Lease Term (Years)
   Operating leases14.814.8
   Finance leases22.322.2
Weighted-Average Discount Rate (1)
   Operating leases4.6 %4.5 %
   Finance leases4.7 %4.4 %
(1)We cannot determine the interest rate implicit in our leases. Therefore, the discount rate represents our incremental borrowing rate and is determined based on the risk-free rate, adjusted for the risk premium attributed to our corporate credit rating for a secured or collateralized instrument.
The annual maturities of our lease liabilities as of May 25, 2025 are as follows:
(in millions)
Fiscal YearOperating LeasesFinance Leases
2026438.0 102.9
2027443.5 107.6
2028435.8 109.4
2029420.0 111.2
2030403.7 113.2
Thereafter3,648.7 2,200.6 
Total future lease commitments (1)$5,789.7 $2,744.9 
Less imputed interest(1,752.7)(1,137.3)
Present value of lease liabilities (2)$4,037.0 $1,607.6 
(1)Of the $5,789.7 million of total future operating lease commitments and $2,744.9 million of total future finance lease commitments, $2,250.1 million and $815.9 million, respectively, are non-cancelable.
(2)Excludes approximately $194.4 million of net present value of lease payments related to 52 real estate leases signed, but not yet commenced.
LEASES LEASES
The components of lease expense for continuing operations in the consolidated statements of earnings for the fiscal years ended May 25, 2025, May 26, 2024 and May 28, 2023 are as follows:
(in millions)May 25, 2025May 26, 2024May 28, 2023
Operating lease expense$413.7 $404.6 $377.9 
Finance lease expense
Amortization of leased assets57.2 48.1 41.2 
Interest on lease liabilities67.7 54.2 44.3 
Variable lease expense35.6 34.6 22.6 
Total lease expense$574.2 $541.5 $486.0 
The components of lease assets and liabilities on the consolidated balance sheet as of May 25, 2025 and May 26, 2024 are as follows:
(in millions)Balance Sheet ClassificationMay 25, 2025May 26, 2024
Operating lease right-of-use assetsOperating lease right-of-use assets$3,555.9 $3,429.3 
Finance lease right-of-use assetsLand, buildings and equipment, net1,294.2 1,106.3 
Total lease assets, net$4,850.1 $4,535.6 
Operating lease liabilities - currentOther current liabilities$220.1 $198.8 
Finance lease liabilities - currentOther current liabilities23.8 15.3 
Operating lease liabilities - non-currentOperating lease liabilities - non-current3,816.9 3,704.7 
Finance lease liabilities - non-currentOther liabilities1,583.8 1,357.1 
Total lease liabilities$5,644.6 $5,275.9 

Supplemental cash flow information related to leases for the fiscal years ended May 25, 2025, May 26, 2024 and May 28, 2023:
(in millions)May 25, 2025May 26, 2024May 28, 2023
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases (1)$410.4 $397.2 $367.6 
Operating cash flows from finance leases67.7 54.2 44.3 
Financing cash flows from finance leases (1) 22.8 22.0 19.8 
Right-of-use assets obtained in exchange for new operating lease liabilities (2)373.0 341.2 131.5 
Right-of-use assets obtained in exchange for new finance lease liabilities152.8 97.3 75.1 
Net change in right-of-use assets mainly due to lease modifications resulting in reclassification of leases from operating to finance81.5 49.886.3
(1) Excludes cash received for any lease incentives.
(2) Right-of-use assets obtained in fiscal 2025 and fiscal 2024 includes $331.9 million from the acquisition of Chuy’s and $303.4 million from the acquisition of Ruth’s Chris, respectively.
The weighted-average remaining lease terms and discount rates as of May 25, 2025 and May 26, 2024 are as follows:
(in millions)May 25, 2025May 26, 2024
Weighted-Average Remaining Lease Term (Years)
   Operating leases14.814.8
   Finance leases22.322.2
Weighted-Average Discount Rate (1)
   Operating leases4.6 %4.5 %
   Finance leases4.7 %4.4 %
(1)We cannot determine the interest rate implicit in our leases. Therefore, the discount rate represents our incremental borrowing rate and is determined based on the risk-free rate, adjusted for the risk premium attributed to our corporate credit rating for a secured or collateralized instrument.
The annual maturities of our lease liabilities as of May 25, 2025 are as follows:
(in millions)
Fiscal YearOperating LeasesFinance Leases
2026438.0 102.9
2027443.5 107.6
2028435.8 109.4
2029420.0 111.2
2030403.7 113.2
Thereafter3,648.7 2,200.6 
Total future lease commitments (1)$5,789.7 $2,744.9 
Less imputed interest(1,752.7)(1,137.3)
Present value of lease liabilities (2)$4,037.0 $1,607.6 
(1)Of the $5,789.7 million of total future operating lease commitments and $2,744.9 million of total future finance lease commitments, $2,250.1 million and $815.9 million, respectively, are non-cancelable.
(2)Excludes approximately $194.4 million of net present value of lease payments related to 52 real estate leases signed, but not yet commenced.
v3.25.2
ADDITIONAL FINANCIAL INFORMATION
 12 Months Ended
May 25, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
ADDITIONAL FINANCIAL INFORMATION ADDITIONAL FINANCIAL INFORMATION
The tables below provide additional financial information related to our consolidated financial statements:
Balance Sheets
(in millions)May 25, 2025May 26, 2024
Receivables, net
Gift card sales
$42.2 $41.8 
Miscellaneous
52.2 37.7 
Allowance for doubtful accounts
(0.6)(0.4)
Total
$93.8 $79.1 
Other Current Liabilities
Non-qualified deferred compensation plan
$301.9 $274.8 
Sales and other taxes
124.3 104.2 
Insurance-related
41.6 44.8 
Employee benefits
59.4 55.1 
Accrued interest
21.4 20.2 
Lease liabilities - current
243.9 214.1 
Derivatives44.1 55.7 
Miscellaneous
76.7 78.3 
Total$913.3 $847.2 
Statements of Earnings
Fiscal Year Ended
(in millions)May 25, 2025May 26, 2024May 28, 2023
Interest, net
Interest expense$115.9 $93.5 $50.2 
Imputed interest on finance leases67.7 54.2 44.3 
Capitalized interest
(5.1)(4.5)(5.4)
Interest income
(3.4)(4.5)(7.8)
Total$175.1 $138.7 $81.3 

Statements of Cash Flows
Fiscal Year Ended
(in millions)May 25, 2025May 26, 2024May 28, 2023
Cash paid during the fiscal year for:
Interest, net of amounts capitalized$171.9 $135.1 $82.4 
Income taxes, net of refunds
$148.5 $136.3 $47.4 
Non-cash investing and financing activities:
Increase in land, buildings and equipment through accrued purchases
$47.0 $40.0 $66.7 
v3.25.2
INCOME TAXES
 12 Months Ended
May 25, 2025
Income Tax Disclosure [Abstract]  
INCOME TAXES INCOME TAXES
Total income tax expense (benefit) was allocated as follows:
Fiscal Year Ended
(in millions)May 25, 2025May 26, 2024May 28, 2023
Earnings from continuing operations$136.2 $145.0 $137.0 
Loss from discontinued operations(0.8)(1.7)(0.8)
Total consolidated income tax expense (benefit)$135.4 $143.3 $136.2 

The components of earnings from continuing operations before income taxes and the provision for income taxes thereon are as follows:
Fiscal Year Ended
(in millions)May 25, 2025May 26, 2024May 28, 2023
Earnings from continuing operations before income taxes:
U.S.$1,180.6 $1,169.2 $1,117.3 
Foreign6.6 6.3 3.2 
Earnings from continuing operations before income taxes$1,187.2 $1,175.5 $1,120.5 
Income taxes:
Current:
Federal$80.9 $99.2 $165.9 
State and local54.4 43.5 25.6 
Foreign— 3.0 1.6 
Total current$135.3 $145.7 $193.1 
Deferred (principally U.S.):
Federal$0.2 $(0.7)$(69.2)
State and local0.7 — 13.1 
Total deferred$0.9 $(0.7)$(56.1)
Total income tax expense$136.2 $145.0 $137.0 
The effective income tax rates for fiscal 2025 and 2024 for continuing operations were 11.5 percent and 12.3 percent, respectively. During fiscal 2025, we had income tax expense of $136.2 million on earnings before income tax of $1.19 billion compared to income tax expense of $145.0 million on earnings before income taxes of $1.18 billion in fiscal 2024. This change was primarily driven by federal tax credits.
The following table is a reconciliation of the U.S. statutory income tax rate to the effective income tax rate from continuing operations included in the accompanying consolidated statements of earnings:
Fiscal Year Ended
May 25, 2025May 26, 2024May 28, 2023
U.S. statutory rate21.0 %21.0 %21.0 %
State and local income taxes, net of federal tax benefits3.8 3.3 3.1 
Benefit of federal income tax credits(11.0)(10.5)(10.4)
Stock-based compensation tax benefit(0.7)(1.1)(0.9)
Other, net(1.6)(0.4)(0.6)
Effective income tax rate11.5 %12.3 %12.2 %

As of May 25, 2025, we had estimated current prepaid state and federal income taxes of $5.3 million and $130.3 million, respectively, which is included on our accompanying consolidated balance sheets as prepaid income taxes and estimated current state income taxes payable of $1.3 million which is included on our accompanying consolidated balance sheets as accrued income taxes.
As of May 25, 2025, we had unrecognized tax benefits of $21.4 million, which represents the aggregate tax effect of the differences between tax return positions and benefits recognized in our consolidated financial statements, all of which would favorably affect the effective tax rate if resolved in our favor. Included in the balance of unrecognized tax benefits at May 25, 2025, is $1.3 million related to tax positions for which it is reasonably possible that the total amounts could change during the next 12 months based on the outcome of examinations. All of the $1.3 million relates to items that would impact our effective income tax rate.
A reconciliation of the beginning and ending amount of unrecognized tax benefits follows:
(in millions)
Balances at May 26, 2024$22.7 
Additions related to current-year tax positions5.6 
Additions related to prior-year tax positions0.7 
Net reductions due to settlements with taxing authorities(4.4)
Reductions to tax positions due to statute expiration(3.2)
Balances at May 25, 2025$21.4 
Interest included in income tax expense in our consolidated statements of earnings is as follows:
Fiscal Year Ended
(in millions)May 25, 2025May 26, 2024May 28, 2023
Interest recorded on unrecognized tax benefits$1.4 $1.7 $2.2 
Interest recorded on income tax receivables$(6.3)$(6.9)$(6.8)
Total (Benefit) Expense$(4.9)$(5.2)$(4.6)

At May 25, 2025, we had $2.3 million accrued for the payment of interest associated with unrecognized tax benefits and $20.6 million accrued as interest receivable on accrued refunds.

For U.S. federal income tax purposes, we participate in the IRS’s Compliance Assurance Process (CAP), whereby our U.S. federal income tax returns are reviewed by the IRS both prior to and after their filing. Income tax returns are subject to audit by state and local governments, generally years after the returns are filed. These returns could be subject to material adjustments or
differing interpretations of the tax laws. The major jurisdictions in which the Company files income tax returns include the U.S. federal jurisdiction, Canada, and all states in the U.S. that have an income tax. With a few exceptions, the Company is no longer subject to U.S. federal income tax examinations by tax authorities for years before fiscal 2024, and state and local, or non-U.S. income tax examinations by tax authorities for years before fiscal 2020.
The tax effects of temporary differences that give rise to deferred tax assets and liabilities are as follows:
(in millions)May 25, 2025May 26, 2024
Accrued liabilities$149.8 $136.4 
Compensation and employee benefits136.2 127.8 
Lease liabilities1,430.1 1,332.4 
Net operating loss, credit and charitable contribution carryforwards84.1 71.8 
Other— 1.0 
Gross deferred tax assets$1,800.2 $1,669.4 
Valuation allowance(19.8)(26.8)
Deferred tax assets, net of valuation allowance$1,780.4 $1,642.6 
Trademarks and other acquisition related intangibles(330.1)(274.6)
Buildings and equipment(409.2)(373.5)
Capitalized software and other assets(33.3)(30.4)
Lease assets(1,266.1)(1,183.8)
Other(20.5)(12.3)
Gross deferred tax liabilities$(2,059.2)$(1,874.6)
Net deferred tax liabilities$(278.8)$(232.0)

We have deferred tax assets of $25.2 million reflecting the benefit of federal credit carryforwards, before valuation allowance, which expire at various dates between fiscal 2026 and fiscal 2045. We have deferred tax assets of $58.9 million reflecting the benefit of state net operating loss, credit, and charitable contribution carryforwards, before federal benefit and valuation allowance, which expire at various dates between fiscal 2026 and fiscal 2045.

We have taken current and potential future expirations into consideration when evaluating the need for valuation allowances against these deferred tax assets. A valuation allowance for deferred tax assets is provided when it is more likely than not that some portion or all of the deferred tax assets will not be realized. Realization is dependent upon the generation of future taxable income or the reversal of deferred tax liabilities during the periods in which those temporary differences become deductible. We consider the scheduled reversal of deferred tax liabilities, projected future taxable income and tax planning strategies in making this assessment. Based upon the level of historical taxable income and projections for future taxable income over the periods in which our deferred tax assets are deductible, we believe it is more likely than not that we will realize the benefits of these deductible differences, net of the existing valuation allowances at May 25, 2025.
v3.25.2
RETIREMENT PLANS
 12 Months Ended
May 25, 2025
Retirement Benefits [Abstract]  
RETIREMENT PLANS RETIREMENT PLANS
Defined Benefit Plan and Postretirement Benefit Plan

We sponsor an unfunded non-contributory postretirement benefit plan that provides health care benefits to certain eligible salaried retirees as a subsidy credit to a health care reimbursement account. This benefit is not impacted by future changes in health care cost trend rates. As of May 25, 2025 and May 26, 2024, the benefit obligation was $10.8 million and $12.3 million, respectively. We fund on a pay-as-you go basis with approximately $1.2 million in annual fundings.

We also sponsor a supplemental defined benefit pension plan, which is an unfunded nonqualified plan separate from our terminated primary pension plan which was settled in fiscal 2020. The supplemental plan is frozen and therefore no longer accruing benefits for participants. As of May 25, 2025 and May 26, 2024, the benefit obligation was approximately $3 million and we fund on a pay-as-you-go basis with $0.4 million funded annually.

Defined Contribution Plan
We have a defined contribution (401(k)) plan (Darden Savings Plan) covering most employees age 18 and older. We match contributions for participants with at least one year of service up to 6 percent of compensation, based on our performance. The
match ranges from a minimum of $0.25 to $1.20 for each dollar contributed by the participant. The Darden Savings Plan also provides for a profit sharing contribution for eligible participants equal to 1.5 percent of the participant’s compensation. Expense recognized in fiscal 2025, 2024 and 2023 was $35.5 million, $45.6 million and $37.7 million, respectively. Employees classified as “highly compensated” under the IRC are not eligible to participate in the Darden Savings Plan. Instead, highly compensated employees are eligible to participate in a separate non-qualified deferred compensation (FlexComp) plan. The FlexComp plan allows eligible employees to defer the payment of part of their annual salary and all or part of their annual bonus and provides for awards that approximate the matching contributions that participants would have received had they been eligible to participate in the Darden Savings Plan, as well as an additional retirement contribution amount. Amounts payable to highly compensated employees under the FlexComp plan totaled $301.9 million and $274.8 million at May 25, 2025 and May 26, 2024, respectively. These amounts are included in other current liabilities on our accompanying consolidated balance sheets.
v3.25.2
STOCK-BASED COMPENSATION
 12 Months Ended
May 25, 2025
Share-Based Payment Arrangement [Abstract]  
STOCK-BASED COMPENSATION STOCK-BASED COMPENSATION
In September 2015, our shareholders approved the Darden Restaurants, Inc. 2015 Omnibus Incentive Plan (2015 Plan). All equity grants subject to FASB ASC Topic 718 after the date of approval are made under the 2015 Plan. No further equity grants after that date are permitted under the Darden Restaurants, Inc. 2002 Stock Incentive Plan, the RARE Hospitality International, Inc. Amended and Restated 2002 Long-Term Incentive Plan or any other prior stock option and/or stock grant plans (collectively, the Prior Plans). The 2015 Plan and the Prior Plans are administered by the Compensation Committee of the Board of Directors. The 2015 Plan provides for the issuance of up to 10.2 million common shares in connection with the granting of non-qualified stock options, restricted stock, restricted stock units (RSUs), performance-based restricted stock units (PRSUs) and other stock-based awards such as Darden stock units to employees, consultants and non-employee directors. As of May 25, 2025, approximately 10.0 thousand shares may be issued under outstanding awards that were granted under the Prior Plans and may still vest and be exercised in accordance with their terms.
Stock-based compensation expense included in continuing operations was as follows:  
Fiscal Year Ended
(in millions)May 25, 2025May 26, 2024May 28, 2023
Stock options$7.5 $6.8 $6.3 
Restricted stock units9.8 8.6 7.4 
Darden stock units37.3 31.9 34.8 
Equity-settled performance-based restricted stock units19.4 16.1 14.3 
Employee stock purchase plan3.2 3.0 2.8 
Director compensation program/other1.9 2.1 1.9 
Total$79.1 $68.5 $67.5 
Excess income tax benefits related to the exercise of stock options and vesting of other equity-settled stock-based compensation recognized in income tax expense from continuing operations was as follows:  
Fiscal Year Ended
(in millions)May 25, 2025May 26, 2024May 28, 2023
Income tax benefits$11.8 $12.7 $6.5 
The weighted-average fair value of non-qualified stock options and the related assumptions used in the Black-Scholes model to record stock-based compensation are as follows:
  
Granted in Fiscal Year Ended
May 25, 2025May 26, 2024May 28, 2023
Weighted-average fair value$44.79 $55.56 $36.20 
Dividend yield3.6 %3.4 %3.8 %
Expected volatility of stock40.8 %42.2 %42.0 %
Risk-free interest rate4.1 %4.0 %2.8 %
Expected option life (in years)6.35.95.9
Weighted-average exercise price per share$139.43 $169.02 $121.47 
The following table presents a summary of our stock option activity as of and for the year ended May 25, 2025:
  Options
(in millions)		Weighted-Average
Exercise Price
Per Share		Weighted-Average
Remaining
Contractual Life (Yrs)		Aggregate
Intrinsic Value
(in millions)
Outstanding beginning of period1.34$111.085.68$51.6
Options granted0.17139.43
Options exercised(0.48)90.10
Options canceled——
Outstanding end of period1.03$125.306.16$80.9
Exercisable0.51$108.754.41$49.0

The total intrinsic value of options exercised during fiscal 2025, 2024 and 2023 was $43.5 million, $33.6 million and $29.7 million, respectively. Cash received from option exercises during fiscal 2025, 2024 and 2023 was $42.8 million, $31.8 million and $24.2 million, respectively. Stock options generally vest over 4 years and have a maximum contractual period of 10 years from the date of grant. We settle employee stock option exercises with authorized but unissued shares of Darden common stock.
As of May 25, 2025, there was $4.5 million of unrecognized compensation cost related to unvested stock options granted under our stock plans. This cost is expected to be recognized over a weighted-average period of 2.3 years. The total fair value of stock options that vested during fiscal 2025 was $7.5 million.
Restricted stock and RSUs are granted at a value equal to the market price of our common stock on the date of grant, and are amortized over their service periods which generally range from one to three years. Restrictions with regard to restricted stock and RSUs lapse at the end of their service periods at which time employees receive unrestricted shares of Darden stock.
The following table presents a summary of our RSU activity as of and for the fiscal year ended May 25, 2025:
  Shares
(in millions)		Weighted-Average
Grant Date Fair
Value Per Share
Outstanding beginning of period0.26$132.38
Shares granted0.08148.94
Shares vested(0.07)136.62
Shares canceled(0.01)158.78
Outstanding end of period0.26$135.67

As of May 25, 2025, there was $7.3 million of unrecognized compensation cost related to unvested RSUs granted under our stock plans. This cost is expected to be recognized over a weighted-average period of 1.8 years. The total fair value of RSUs that vested during fiscal 2025, 2024 and 2023 was $9.9 million, $7.9 million and $6.6 million, respectively.
Darden stock units are granted at a value equal to the market price of our common stock on the date of grant and will be settled in cash at the end of their vesting periods, which typically range from three to five years, at the then market price of our common stock. Compensation expense is measured based on the market price of our common stock each period, is amortized over the vesting period and the vested portion is carried as a liability on our accompanying consolidated balance sheets. We also enter into equity forward contracts to hedge the risk of changes in future cash flows associated with the unvested Darden stock units granted (see Note 8 for additional information).
The following table presents a summary of our Darden stock unit activity as of and for the fiscal year ended May 25, 2025:
(All units settled in cash)Units
(in millions)		Weighted-Average
Fair Value
Per Unit
Outstanding beginning of period0.76$147.60
Units granted0.20145.03
Units vested(0.29)149.87
Units canceled(0.03)139.35
Outstanding end of period0.64$204.02

As of May 25, 2025, our total Darden stock unit liability was $83.5 million, including $40.0 million recorded in other current liabilities and $43.5 million recorded in other liabilities on our consolidated balance sheets. As of May 26, 2024, our total Darden stock unit liability was $75.9 million, including $37.4 million recorded in other current liabilities and $38.5 million recorded in other liabilities on our consolidated balance sheets.

Based on the value of our common stock as of May 25, 2025, there was $29.9 million of unrecognized compensation cost related to Darden stock units granted under our incentive plans. This cost is expected to be recognized over a weighted-average period of 2.1 years but the amount that vests is ultimately dependent on the value of Darden stock at the vesting date. The total fair value of Darden stock units that vested during fiscal 2025 was $42.8 million.

Relative total shareholder return PRSUs are equity-settled awards that vest over the service period which ranges from three to four years, and the number of units that actually vest is determined based on the achievement of performance criteria set forth in the award agreement. The awards vest based on the achievement of market-based targets, are measured based on estimated fair value as of the date of grant using a Monte Carlo simulation, and are amortized over the service period.

The weighted-average grant date fair value of equity-settled PRSUs and the related assumptions used in the Monte Carlo simulation to record stock-based compensation are as follows:
  
Granted in Fiscal Year Ended
May 25, 2025May 26, 2024May 28, 2023
Dividend yield (1)0.0 %0.0 %0.0 %
Expected volatility of stock26.5 %32.3 %55.5 %
Risk-free interest rate4.2 %4.5 %2.9 %
Expected option life (in years)2.92.92.8
Weighted-average grant date fair value per unit$181.65 $217.11 $137.73 
(1)Assumes a reinvestment of dividends.
The following table presents a summary of our equity-settled PRSU activity as of and for the fiscal year ended May 25, 2025:
Units
(in millions)		Weighted-Average
Grant Date
Fair Value
Per Unit
Outstanding beginning of period0.35$152.39
Units granted0.11181.65
Units granted/canceled performance impact0.02158.40
Units vested(0.15)126.63
Units canceled——
Outstanding end of period0.33$175.95

As of May 25, 2025, there was $9.8 million of unrecognized compensation cost related to unvested equity-settled PRSUs granted under our stock plans. This cost is expected to be recognized over a weighted-average period of 2.2 years. The total fair value of equity-settled PRSUs that vested during fiscal 2025 was $18.4 million.
We maintain an Employee Stock Purchase Plan to provide eligible employees who have completed one year of service (excluding certain employees who are employed less than full time or own 5.0 percent or more of our capital stock or that of any subsidiary) an opportunity to invest up to $5.0 thousand per calendar quarter to purchase shares of our common stock, subject to certain limitations. Under the plan, up to an aggregate of 6.2 million shares are available for purchase by employees at a purchase price that is 85.0 percent of the fair market value of our common stock on either the first or last trading day of each calendar quarter, whichever is lower. Cash received from employees pursuant to the plan during fiscal 2025, 2024 and 2023 was $12.8 million, $11.8 million and $11.2 million, respectively. Shares issued to employees under the Employee Stock Purchase Plan during fiscal 2025, 2024 and 2023 were 0.1 million.
v3.25.2
COMMITMENTS AND CONTINGENCIES
 12 Months Ended
May 25, 2025
Commitments and Contingencies Disclosure [Abstract]  
COMMITMENTS AND CONTINGENCIES COMMITMENTS AND CONTINGENCIES
As collateral for performance on contracts and as credit guarantees to banks and insurers, we were contingently liable for guarantees of subsidiary obligations under standby letters of credit. At May 25, 2025 and May 26, 2024, we had $80.0 million and $79.5 million, respectively, of standby letters of credit related to workers’ compensation and general liabilities accrued in our consolidated financial statements. At May 25, 2025 and May 26, 2024, we had $16.7 million and $16.8 million, respectively, of surety bonds related to other payments. Most surety bonds are renewable annually.
At May 25, 2025 and May 26, 2024, we had $76.5 million and $71.0 million, respectively, of guarantees associated with leased properties that have been assigned to third parties, primarily related to the disposition of Red Lobster in fiscal 2015. These amounts represent the maximum potential amount of future payments under the guarantees. The fair value of the maximum potential payments discounted at our weighted-average cost of capital at May 25, 2025 and May 26, 2024, amounted to $61.2 million and $57.7 million, respectively. In the event of default by a third party, the indemnity and default clauses in our assignment agreements govern our ability to recover from and pursue the third party for damages incurred as a result of its default. We do not hold any third-party assets as collateral related to these assignment agreements, except to the extent that the assignment allows us to repossess the building and personal property. At May 25, 2025 and May 26, 2024, the liability recorded for our expected credit losses under these leases was $10.6 million. These guarantees expire over their respective lease terms, which range from fiscal 2026 through fiscal 2034.
We are subject to private lawsuits, administrative proceedings and claims that arise in the ordinary course of our business. A number of these lawsuits, proceedings and claims may exist at any given time. These matters typically involve claims from guests, employees and others related to operational issues common to the restaurant industry, and can also involve infringement of, or challenges to, our trademarks. While the resolution of a lawsuit, proceeding or claim may have an impact on our financial results for the period in which it is resolved, we believe that the final disposition of the lawsuits, proceedings and claims in which we are currently involved, either individually or in the aggregate, will not have a material adverse effect on our financial position, results of operations or liquidity.
v3.25.2
SUBSEQUENT EVENTS
 12 Months Ended
May 25, 2025
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS SUBSEQUENT EVENTS
On June 18, 2025, the Board of Directors declared a cash dividend of $1.50 per share to be paid August 1, 2025 to all shareholders of record as of the close of business on July 10, 2025.
v3.25.2
Pay vs Performance Disclosure - USD ($)
$ in Millions
 12 Months Ended
May 25, 2025
May 26, 2024
May 28, 2023
Pay vs Performance Disclosure      
Net earnings $ 1,049.6 $ 1,027.6 $ 981.9
v3.25.2
Insider Trading Arrangements
 3 Months Ended
May 25, 2025
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.25.2
Insider Trading Policies and Procedures
 12 Months Ended
May 25, 2025
Insider Trading Policies and Procedures [Line Items]  
Insider Trading Policies and Procedures Adopted true
v3.25.2
Cybersecurity Risk Management and Strategy Disclosure
 12 Months Ended
May 25, 2025
Cybersecurity Risk Management, Strategy, and Governance [Line Items]  
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]
We have implemented policies and procedures intended to manage and reduce cybersecurity risk that are integrated with the Enterprise Risk Management (“ERM”) framework utilized by management and the Audit Committee to oversee our various top enterprise risks. We maintain an incident response plan that is designed to protect against, identify, evaluate, respond to and recover from a cybersecurity related incident. The plan provides for the creation of an incident response team in the event of an incident and it is designed to be flexible enough to accommodate a broad array of potential scenarios. The incident response team is a cross-functional group that may be composed of both Company personnel and external service providers, and that is tailored to a particular incident so that individuals with appropriate experience and expertise are available. We conduct regular exercises to help ensure the plan’s effectiveness and our overall response preparedness.
We have also invested in various tools to protect our data and information technology. We maintain a robust system of data protection and cybersecurity resources, technology and processes, and we regularly evaluate new and emerging risks and ever-changing legal and compliance requirements. We make ongoing strategic investments to address these risks, including maintaining insurance coverage to mitigate the potential financial consequences of cybersecurity incidents, and compliance requirements and help keep Company, guest and team member data secure. We monitor risks of sensitive information compromise at our business partners, where relevant, and reevaluate these risks on a periodic basis. In addition, we have a cybersecurity training program designed to educate and train employees how to identify and report cybersecurity threats. Training programs are conducted on a periodic basis and are focused on giving employees the awareness and tools to manage the most relevant and prevalent cybersecurity risks to us. We also provide specialized training for employees in more sensitive roles. For example, we perform annual and ongoing cybersecurity awareness training for our restaurant management and restaurant support center team members. In addition, we provide annual credit card handling training following Payment Card Industry (PCI) guidelines to all team members that handle guest credit cards. We conduct regular drills, such as tabletop exercises led by third party consultants, to support our overall preparedness for a variety of scenarios.

We take measures to regularly update and improve our cybersecurity program, including conducting independent program assessments, penetration testing and scanning of our systems for vulnerabilities. We periodically engage third parties to perform cybersecurity audits to measure the maturity of our cybersecurity program against the National Institute of Standards and Technology (NIST) Framework. We also engage third parties to conduct security reviews of our network, processes and systems on a regular basis to identify opportunities and enhancements to strengthen our policies and practices.

With respect to third-party service providers, our information security program includes conducting due diligence of relevant service providers’ information security programs prior to onboarding and we continue to reassess vendors using a risk-based approach. We also contractually require third-party service providers with access to our information technology systems, sensitive business data or personal information to implement and maintain appropriate security controls and contractually restrict their ability to use our data, including personal information, for purposes other than to provide services to us, except as required by law. To oversee the risks associated with these service providers, we work with them to help ensure that their cybersecurity protocols are appropriate to the risk presented by their access to or use of our systems and/or data, including notification and coordination concerning incidents occurring on third-party systems that may affect us. Our service providers are contractually required to notify us promptly of information security incidents occurring on their systems that may affect our systems or data, including personal information.

Although we have invested in the protection of our data and information technology and monitor our systems on an ongoing basis, there can be no assurance that such efforts will prevent material compromises to our information technology systems in the future that could have a material adverse effect on our business. As of the date of this filing, we are not aware of any current cybersecurity threats or incidents that have materially affected or are reasonably likely to materially affect our business, results of operations or financial condition. For further discussion of the risks related to cybersecurity, see the risk factors discussed under “Risks Relating to Information Technology, Cybersecurity and Privacy” in our Risk Factors in Item 1A of this Form 10-K.
Cybersecurity Risk Management Processes Integrated [Flag] true
Cybersecurity Risk Management Processes Integrated [Text Block] We have implemented policies and procedures intended to manage and reduce cybersecurity risk that are integrated with the Enterprise Risk Management (“ERM”) framework utilized by management and the Audit Committee to oversee our various top enterprise risks.
Cybersecurity Risk Management Third Party Engaged [Flag] true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag] true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] false
Cybersecurity Risk Board of Directors Oversight [Text Block] Our Board of Directors has ultimate risk oversight responsibility for the Company and administers this responsibility both directly and with assistance from its committees. Each of the committees periodically reports to the Board of Directors on its specific risk oversight activities. The Audit Committee, comprised solely of independent directors, oversees our overall ERM program and assists the Board of Directors in fulfilling its oversight responsibility with respect to our information security and technology risks (including cybersecurity), all of which are fully integrated into our ERM program. The Audit Committee actively reviews and discusses our information security and technology risk management programs and regularly reports out to the full Board of Directors on our relevant strengths and opportunities.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block] The Audit Committee, comprised solely of independent directors, oversees our overall ERM program and assists the Board of Directors in fulfilling its oversight responsibility with respect to our information security and technology risks (including cybersecurity), all of which are fully integrated into our ERM program.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block] The Audit Committee actively reviews and discusses our information security and technology risk management programs and regularly reports out to the full Board of Directors on our relevant strengths and opportunities.
Cybersecurity Risk Role of Management [Text Block]
Our cybersecurity program is led by our Chief Information Officer (CIO), who is responsible for identifying, assessing and managing our collective information security and technology risks. Our current CIO has served in that role since 2016 and has more than 20 years of experience in the information security and technology fields. Our CIO holds both bachelor’s and master’s degrees in Electrical Engineering from the Massachusetts Institute of Technology.

The CIO meets regularly with leaders of our various information technology management teams to review and discuss our cybersecurity and other information technology risks and opportunities. Our global incident response plan sets forth a detailed security incident management and reporting protocol, with escalation timelines and responsibilities.
The Audit Committee receives periodic updates from the CIO, the director of our cybersecurity team and a senior attorney, the three most senior leaders with responsibility for oversight of our key cybersecurity program components. These updates include matters such as ongoing changes in our external and internal cybersecurity threat landscape, new technology trends and regulatory developments, evolving internal policies and practices used to manage and mitigate cybersecurity and technology-related risks, and trends in various metrics that are used to help assess our overall cybersecurity program effectiveness. Our CIO also provides updates to the full Board of Directors on such topics at least annually.
Cybersecurity Risk Management Positions or Committees Responsible [Flag] true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block] Our cybersecurity program is led by our Chief Information Officer (CIO), who is responsible for identifying, assessing and managing our collective information security and technology risks.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block] Our current CIO has served in that role since 2016 and has more than 20 years of experience in the information security and technology fields. Our CIO holds both bachelor’s and master’s degrees in Electrical Engineering from the Massachusetts Institute of Technology.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block] The Audit Committee receives periodic updates from the CIO, the director of our cybersecurity team and a senior attorney, the three most senior leaders with responsibility for oversight of our key cybersecurity program components. These updates include matters such as ongoing changes in our external and internal cybersecurity threat landscape, new technology trends and regulatory developments, evolving internal policies and practices used to manage and mitigate cybersecurity and technology-related risks, and trends in various metrics that are used to help assess our overall cybersecurity program effectiveness. Our CIO also provides updates to the full Board of Directors on such topics at least annually.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag] true
v3.25.2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)
 12 Months Ended
May 25, 2025
Accounting Policies [Abstract]  
Basis of Presentation
Basis of Presentation
The accompanying consolidated financial statements include the operations of Darden Restaurants, Inc. and its wholly owned subsidiaries (Darden, the Company, we, us or our). We own and operate the Olive Garden®, LongHorn Steakhouse®, Cheddar’s Scratch Kitchen®, Chuy’s®, Yard House®, Ruth’s Chris Steak House® (“Ruth’s Chris”), The Capital Grille®, Seasons 52®, Eddie V’s Prime Seafood® (Eddie V’s), Bahama Breeze®, and The Capital Burger® restaurant brands located in the United States and Canada. Through subsidiaries, we own and operate all of our restaurants in the United States and Canada, except for 5 restaurants we manage through joint venture or other contractual agreements and 85 franchised restaurants. We also have 69 franchised restaurants located in Canada, Latin America, the Caribbean, Asia, and the Middle East. All significant intercompany balances and transactions have been eliminated in consolidation.
Fiscal Year
Fiscal Year
We operate on a 52/53-week fiscal year, which ends on the last Sunday in May. Fiscal 2025, which ended May 25, 2025, consisted of 52 weeks. Fiscal 2024, which ended May 26, 2024, consisted of 52 weeks and fiscal 2023, which ended May 28, 2023, consisted of 52 weeks.
Use of Estimates
Use of Estimates
We prepare our consolidated financial statements in conformity with U.S. generally accepted accounting principles (GAAP). The preparation of these financial statements requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of sales and expenses during the reporting period. Actual results could differ from those estimates.
Cash and Cash Equivalents
Cash and Cash Equivalents
Cash equivalents include highly liquid investments such as bank deposits and money market funds that have an original maturity of three months or less. Amounts receivable from credit card companies are also considered cash equivalents because they are both short term and highly liquid in nature and are typically converted to cash within three days of the sales transaction.
Receivables, Net
Receivables, Net
Receivables, net of the allowance for doubtful accounts, represent their estimated net realizable value. Provisions for doubtful accounts are recorded based on historical collection experience and the age of the receivables. Receivables are written off when they are deemed uncollectible. See Note 12 for additional information.
Inventories
Inventories
Inventories consist of food and beverages and are valued at the lower of weighted-average cost or net realizable value.
Land, Buildings and Equipment, Net
Land, Buildings and Equipment, Net
Land, buildings and equipment are recorded at cost less accumulated depreciation. Building components are depreciated over estimated useful lives ranging from 3 to 30 years using the straight-line method. Leasehold improvements, which are reflected on our consolidated balance sheets as a component of buildings in land, buildings and equipment, net, are amortized over the lesser of the expected lease term or the estimated useful lives of the related assets using the straight-line method. Equipment is depreciated over estimated useful lives ranging from 2 to 20 years also using the straight-line method. See Note 5 for additional information. Gains and losses on the disposal of land, buildings and equipment are included in impairments and disposal of assets, net, while the write-off of net book value associated with the replacement of equipment in the normal course of business is recorded as a component of restaurant expenses in our accompanying consolidated statements of earnings.
Capitalized Software Costs and Other Definite-Lived Intangibles
Capitalized Software Costs and Other Definite-Lived Intangibles
Capitalized software, which is a component of other assets, is recorded at cost less accumulated amortization. Capitalized software is amortized using the straight-line method over estimated useful lives ranging from 1 to 10 years. We have other definite-lived intangible assets, including assets related to the value of reacquired franchise rights resulting from our acquisitions that are included as a component of other assets and definite-lived intangible liabilities related to the value of below-market agreements resulting from our acquisitions that are included in other liabilities on our consolidated balance sheets. Definite-lived intangibles are amortized on a straight-line basis over estimated useful lives of 1 to 20 years.
Trust-Owned Life Insurance
Trust-Owned Life Insurance
We have a trust that purchased life insurance policies covering certain of our officers and other key employees (trust-owned life insurance or TOLI). The trust is the owner and sole beneficiary of the TOLI policies. The policies were purchased to offset a portion of our obligations under our non-qualified deferred compensation plan. The cash surrender value for each policy is included in other assets, while changes in cash surrender values are included in general and administrative expenses.
Liquor Licenses
Liquor Licenses
The costs of obtaining non-transferable liquor licenses that are directly issued by local government agencies for nominal fees are expensed as incurred. The costs of purchasing transferable liquor licenses through open markets in jurisdictions with a limited number of authorized liquor licenses are capitalized as indefinite-lived intangible assets and included in other assets. Liquor licenses are reviewed for impairment annually or more frequently if events or changes in circumstances indicate that the carrying amount may not be recoverable. Annual liquor license renewal fees are expensed over the renewal term.
Goodwill and Intangible Assets Goodwill and Intangible Assets
We have eleven reporting units, eight of which have goodwill and nine of which have trademarks. Goodwill and trademarks are not subject to amortization and have been assigned to reporting units for purposes of impairment testing. The reporting units are our restaurant brands. A significant amount of judgment is involved in determining if an indicator of impairment has occurred. Such indicators may include, among others: a significant decline in our expected future cash flows; a sustained, significant decline in our stock price and market capitalization; a significant adverse change in legal factors or in the business climate; unanticipated competition; the testing for recoverability of a significant asset group within a reporting unit; and slower growth rates. Any adverse change in these factors could have a significant impact on the recoverability of these assets and could have a material impact on our consolidated financial statements. We review our goodwill and trademarks for impairment annually, as of the first day of our fourth fiscal quarter, or more frequently if indicators of impairment exist.

During fiscal 2025, we elected to perform a qualitative assessment for our annual review of goodwill and trademarks to determine whether or not indicators of impairment exist. In considering the qualitative approach related to goodwill, we evaluated factors including, but not limited to, macro-economic conditions, market and industry conditions, commodity cost fluctuations, competitive environment, share price performance, results of prior impairment tests, operational stability, the overall financial performance of the reporting units and the impacts of discount rates. As it relates to trademarks, we evaluate similar factors from the goodwill assessment, in addition to impacts of royalty rates. As a result of the qualitative assessment, no indicators of impairment were identified, and no additional indicators of impairment were identified through the end of our fourth fiscal quarter that would require us to test further for impairment.

We evaluate the useful lives of our other intangible assets to determine if they are definite or indefinite-lived. A determination on useful life requires significant judgments and assumptions regarding the future effects of obsolescence, demand, competition, other economic factors (such as the stability of the industry, legislative action that results in an uncertain or changing regulatory environment and expected changes in distribution channels), the level of required maintenance expenditures and the expected lives of other related groups of assets.
Impairment or Disposal of Long-Lived Assets
Impairment or Disposal of Long-Lived Assets
Land, buildings and equipment, operating lease right-of-use assets and certain other assets, including definite-lived intangible assets, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of the assets to the future undiscounted net cash flows expected to be generated by the assets. Identifiable cash flows are measured at the lowest level for which they are largely independent of the cash flows of other groups of assets and liabilities, generally at the restaurant level. If such assets are determined to be impaired, the recognized impairment is measured by the amount by which the carrying amount of the assets exceeds their fair value. Fair value is generally determined based on appraisals, sales prices of comparable assets or discounted future net cash flows expected to be generated by the assets. Restaurant sites and certain other assets to be disposed of are reported at the lower of their carrying amount or fair value, less estimated costs to sell, and are included in assets held for sale on our consolidated balance sheets when certain criteria are met. These criteria include, among other factors, the requirement that the likelihood of disposing of these assets within one year is probable. Assets not meeting the “held for sale” criteria remain in land, buildings and equipment until their disposal is probable within one year.
We account for exit or disposal activities, including restaurant closures, in accordance with Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) Topic 420, Exit or Disposal Cost Obligations. Such costs include the
cost of disposing of the assets as well as other facility-related expenses from previously closed restaurants. These costs are generally expensed as incurred. See Note 4 for additional information. For restaurants operated under non-cancellable leases, on the date we commit to a plan to either abandon the related right-of-use (ROU) asset or sublease the underlying asset, we evaluate the ROU asset for potential impairment and determine the go-forward accounting based on the requirements in FASB ASC Topic 842, Leases.
Insurance Accruals
Insurance Accruals
Through the use of insurance program deductibles and self-insurance, we retain a significant portion of expected losses under our workers’ compensation and general liability programs. Accrued liabilities have been recorded based on our estimates of the anticipated ultimate costs to settle all claims, both reported and not yet reported.
Revenue Recognition and Unearned Revenues
Revenue Recognition
Sales, as presented in our consolidated statements of earnings, includes the sale of food and beverage products, royalties from our franchised restaurants and royalties from the sale of consumer product goods. Revenue from restaurant sales is recognized when food and beverage products are sold and is presented net of discounts, coupons, employee meals and complimentary meals. Revenue is presented net of sales tax. Sales taxes collected from customers are included in other accrued taxes on our consolidated balance sheets until the taxes are remitted to governmental authorities.

During the second quarter of fiscal 2025, we entered into an exclusive multi-year delivery arrangement with Uber Technologies, Inc. (Uber). The agreement enables our guests to order delivery via Darden restaurant channels, with delivery handled by Uber. During fiscal 2025, we rolled the program out to nearly all Olive Garden locations and began the rollout to Cheddar’s Scratch Kitchen. Revenue from orders through Company-owned platforms includes delivery fees and is recognized when the delivery partner transfers the order to the guest as the Company controls the delivery. For these sales, the Company receives payment directly from the guest at the time of sale. For all delivery sales, the Company is considered the principal and recognizes revenue on a gross basis.
Franchise royalties, which are a percentage of net sales of franchised restaurants, are recognized as revenue in the period the related sales occur. Revenue from area development and franchise fees are recognized as the performance obligations are satisfied over the term of the franchise agreement, which is generally 10 years. Advertising contributions, which are a percentage of net sales of franchised restaurants, are recognized in the period the related sales occur. Additionally, franchisee purchases of our inventory through our distribution network are recognized as revenue in the period the purchases are made.
Revenue from the sale of consumer packaged goods includes ongoing royalty fees based on a percentage of licensed retail product sales and is recognized upon the sale of product by our licensed manufacturers to retail outlets.
Unearned Revenues
Unearned revenues primarily represent our liability for gift cards that have been sold but not yet redeemed. We recognize sales from our gift cards when the gift card is redeemed by the customer. Although there are no expiration dates or dormancy fees for our gift cards, based on our analysis of our historical gift card redemption patterns, we can reasonably estimate the amount of gift cards for which redemption is remote, which is referred to as “breakage.” We recognize breakage within sales for unused gift card amounts in proportion to actual gift card redemptions. The estimated value of gift cards expected to remain unused is recognized over the expected period of redemption as the remaining gift card values are redeemed, generally over a period of 12 years. Utilizing this method, we estimate both the amount of breakage and the time period of redemption. If actual redemption patterns vary from our estimates, actual gift card breakage income may differ from the amounts recorded. We update our estimates of our redemption period and our breakage rate periodically and apply that rate prospectively to gift card redemptions. Discounts for gift cards sold by third parties are recorded to unearned revenues and are recognized as a reduction to sales over a period that approximates redemption patterns.
Food and Beverage Costs
Food and Beverage Costs
Food and beverage costs include inventory, warehousing, related purchasing and distribution costs, and gains and losses on certain commodity derivative contracts. Vendor allowances received in connection with the purchase of a vendor’s products are recognized as a reduction of the related food and beverage costs as earned. For certain contracts, advance payments are made by the vendors based on estimates of volume to be purchased from the vendors and the terms of the agreement. As we make purchases from the vendors each period, we recognize the pro rata portion of allowances earned as a reduction of food and beverage costs for that period. Differences between estimated and actual purchases are settled in accordance with the terms of the agreements. Vendor agreements are generally for a period of one year or more. Pre-payments received from vendors are initially recorded as long-term liabilities. Amounts expected to be earned within one year are recorded as current liabilities. Certain agreements require payments in arrears and are recorded as current receivables.
Income Taxes
Income Taxes
We provide for federal and state income taxes currently payable as well as for those deferred because of temporary differences between reporting income and expenses for financial statement purposes versus tax purposes. Federal income tax credits are recorded as a reduction of income taxes. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in earnings in the period that includes the enactment date. Interest recognized on reserves for uncertain tax positions is included in income tax expense in our consolidated statements of earnings. A corresponding liability for accrued interest is included as a component of other current liabilities on our consolidated balance sheets. Interest accrued for refunds due from the taxing jurisdiction is recognized as a reduction to tax expense and a component of taxes payable. Penalties, when incurred, are recognized in general and administrative expenses.
FASB ASC Topic 740, Income Taxes, requires that a position taken or expected to be taken in a tax return be recognized (or derecognized) in the financial statements when it is more likely than not (i.e., a likelihood of more than 50 percent) that the position would be sustained upon examination by tax authorities. A recognized tax position is then measured at the largest amount of benefit that is greater than 50 percent likely of being realized upon ultimate settlement.
Derivative Instruments and Hedging Activities
Derivative Instruments and Hedging Activities
We enter into derivative instruments for risk management purposes only, including derivatives designated as hedging instruments as required by FASB ASC Topic 815, Derivatives and Hedging, and those utilized as economic hedges. We use financial and commodities derivatives to manage interest rate, compensation and commodity and foreign exchange pricing risks inherent in our business operations. Our use of derivative instruments is currently limited to interest rate hedges, equity forward contracts, commodity swaps and foreign exchange forwards. These instruments are generally structured as hedges of the variability of cash flows related to forecasted transactions (cash flow hedges). However, we do at times enter into instruments designated as fair value hedges to reduce our exposure to changes in fair value of the related hedged item. We do not enter into derivative instruments for trading or speculative purposes, where changes in the cash flows or fair value of the derivative are not expected to offset changes in cash flows or fair value of the hedged item. All derivatives are recognized on the balance sheet at fair value. For those derivative instruments for which we intend to elect hedge accounting, on the date the derivative contract is entered into, we document all relationships between hedging instruments and hedged items, as well as our risk-management objective and strategy for undertaking the various hedge transactions. This process includes linking all derivatives designated as cash flow hedges to specific assets and liabilities on the consolidated balance sheet or to specific forecasted transactions. We also formally assess, both at the hedge’s inception and on an ongoing basis, whether the derivatives used in hedging transactions are highly effective in offsetting changes in cash flows of hedged items.
By using these instruments, we expose ourselves, from time to time, to credit risk and market risk. Credit risk is the failure of the counterparty to perform under the terms of the derivative contract. When the fair value of a derivative contract is positive, the counterparty owes us, which creates credit risk for us. We minimize this credit risk by entering into transactions with high quality counterparties. Market risk is the adverse effect on the value of a financial instrument that results from a change in interest rates, commodity prices, or the market price of our common stock. We minimize this market risk by establishing and monitoring parameters that limit the types and degree of market risk that may be undertaken.
To the extent our derivatives are effective in offsetting the variability of the hedged cash flows, and otherwise meet the cash flow hedge accounting criteria required by FASB ASC Topic 815, changes in the derivatives’ fair value are not included in current earnings but are included in accumulated other comprehensive income (loss), net of tax. These changes in fair value will be reclassified into earnings at the time of the forecasted transaction. Ineffectiveness measured in the hedging relationship is recorded currently in earnings in the period in which it occurs. To the extent our derivatives are effective in mitigating changes in fair value, and otherwise meet the fair value hedge accounting criteria required by FASB ASC Topic 815, gains and losses in the derivatives’ fair value are included in current earnings, as are the gains and losses of the related hedged item. To the extent the hedge accounting criteria are not met, the derivative contracts are utilized as economic hedges, and changes in the fair value of such contracts are recorded currently in earnings in the period in which they occur. Cash flows related to derivatives are included in operating activities.
Leases
Leases
The majority of our restaurant locations, as well as our restaurant support center, are subject to a lease. We evaluate our leases at the commencement of the lease to determine the classification as an operating or finance lease. Upon adoption of FASB ASC Topic 842, we recognized operating and finance lease liabilities based on the present value of minimum lease payments over the remaining expected lease term and corresponding right-of-use assets. We recognize lease expense related to operating leases
on a straight-line basis. Amortization expense and interest expense related to finance leases are included in depreciation and amortization and interest, net, respectively, in our consolidated statements of earnings. Sale-leasebacks are transactions through which we sell assets (such as restaurant properties) at fair value and subsequently lease them back. The resulting leases qualify and are accounted for as operating leases. Failed sale-leaseback transactions are generally classified as finance leases and result in retention of the “sold” assets within land, buildings and equipment with a finance lease liability equal to the amount of proceeds received recorded as a component of other liabilities on our consolidated balance sheets.
Within the provisions of certain of our leases, there are rent holidays and escalations in payments over the base lease term, as well as renewal periods. The effects of the holidays and escalations have been reflected in lease expense on a straight-line basis for operating leases over the expected lease term. The lease term commences on the date when we have the right to control the use of the leased property, which is typically before lease payments are due under the terms of the lease. Many of our leases have renewal periods totaling 5 to 20 years, exercisable at our option, and require payment of property taxes, insurance and maintenance costs in addition to the lease payments. At lease inception, we include option periods that we are reasonably certain to exercise as failure to renew the lease would impose an economic penalty either from the loss of our investment in leasehold improvements or future cash flows from operating the restaurant. The consolidated financial statements reflect the same lease term for amortizing leasehold improvements as we use to determine finance versus operating lease classifications. Variable lease expense is generally based on sales levels and is accrued at the point in time we determine that it is probable that such sales levels will be achieved. Landlord allowances are recorded as an adjustment to the right-of-use assets. Gains and losses on sale-leaseback transactions are recognized immediately. We elected the practical expedient to not separate lease and non-lease components for real estate leases entered into after adoption.
Pre-Opening Expenses
Pre-Opening Expenses
Non-capital expenditures associated with opening new restaurants are expensed as incurred; these costs consist of expense incurred before the opening of a new, relocated or converted restaurant and include occupancy, labor, travel, training, food, beverage and other initial supplies and expenses. These costs are reported as pre-opening costs in our consolidated statements of earnings.
Advertising
Advertising
Production costs of commercials are expensed in the fiscal period the advertising is first aired while the costs of programming and other advertising, promotion and marketing programs are expensed as incurred. These costs are reported as marketing expenses in our consolidated statements of earnings.
Stock-Based Compensation
Stock-Based Compensation
We recognize the cost of employee service received in exchange for awards of equity instruments based on the grant date fair value of those awards. We recognize compensation expense, net of estimated forfeitures, on a straight-line basis over the employee service period for awards granted. We utilize the Black-Scholes option pricing model to estimate the fair value of stock option awards. The dividend yield has been estimated based upon our historical results and expectations for changes in dividend rates. The expected volatility was determined using historical stock prices. The risk-free interest rate was the rate available on zero coupon U.S. government obligations with a term approximating the expected life of each grant. The expected life was estimated based on the exercise history of previous grants, taking into consideration the remaining contractual period for outstanding awards. We utilize a Monte Carlo simulation to estimate the fair value of our market-based equity-settled performance awards. The dividend yield assumes reinvestment of dividends. The expected volatility was determined using historical stock prices. The risk-free interest rate was the rate available on zero coupon U.S. government obligations with a term approximating the expected life of each grant. The expected life was estimated based on the performance measurement period for outstanding awards.
Net Earnings per Share
Net Earnings per Share
Basic net earnings per share are computed by dividing net earnings by the weighted-average number of common shares outstanding for the reporting period. Diluted net earnings per share reflect the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock. Outstanding stock options, restricted stock units and equity-settled performance stock units granted by us represent the only dilutive effect reflected in diluted weighted-average shares outstanding. These stock-based compensation instruments do not impact the numerator of the diluted net earnings per share computation.
Foreign Currency
Foreign Currency
The Canadian dollar is the functional currency for our Canadian restaurant operations. Assets and liabilities denominated in foreign currencies are translated into U.S. dollars using the exchange rates in effect at the balance sheet date. Results of operations are translated using the average exchange rates prevailing throughout the period. Translation gains and losses are reported as a separate component of other comprehensive income (loss).
Recently Issued Accounting Standards Adopted and Not Yet Adopted
Recently Issued Accounting Standards Adopted
As of May 25, 2025, we adopted Accounting Standards Update (ASU) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which updates reportable segment disclosure requirements primarily through enhanced disclosures about significant segment expenses. The adoption of ASU 2023-07 did not impact the Company’s results of operations, cash flow, or financial condition. See Note 6 for the Company’s segment disclosures.
Recently Issued Accounting Standards Not Yet Adopted
In December 2023, the Financial Accounting Standards Board (FASB) issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which updates income tax disclosures related to the rate reconciliation and requires disclosure of income taxes paid by jurisdiction. The amendment also provides further disclosure comparability. The amendments are effective for fiscal years beginning after December 15, 2024. Early adoption is permitted. The amendments should be applied prospectively; however, retrospective application is permitted. Management is currently evaluating this ASU to determine its impact on the Company’s disclosures. We plan to adopt in the fourth quarter of fiscal 2026.

In March 2024, the U.S. Securities and Exchange Commission (SEC) adopted its final rules intended to enhance and standardize climate-related disclosures in registration statements and annual reports. The new rules will require disclosure of material climate-related risks, including disclosure of Board of Directors’ oversight and risk management activities, the material impacts of these risks to the Company and the quantification of material impacts to the Company as a result of severe weather
events and other natural conditions. The rules also require disclosure of material greenhouse gas emissions and any material climate-rated targets and goals. The new rules will be effective for annual reporting periods beginning in fiscal year 2026, except for the greenhouse gas emissions disclosures which will be effective for annual reporting periods beginning in fiscal year 2027. On April 4, 2024, the SEC issued a voluntary stay on its final rules until legal challenges to the rules are addressed, and on March 27, 2025, the SEC voted to end its defense of the rules requiring disclosure of climate-related risk and greenhouse gas emissions and withdrew from the litigation. The Company continues to monitor the status of these rules.

In November 2024, the FASB issued ASU 2024-03, Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses, which requires detailed disclosure amounts for purchases of inventory, employee compensation, depreciation, and intangible asset amortization in each relevant expense caption on the income statement. The ASU requires companies to include amounts already required by GAAP in the same disclosure, provide a qualitative description of remaining amounts not separately disaggregated, and disclose the total selling expenses along with the definition of selling expenses in annual reports. The amendment is effective for fiscal years beginning after December 15, 2026. Early adoption is permitted. The amendment should be applied prospectively; however, retrospective application is permitted. Management is currently evaluating this ASU to determine its impact on the Company’s disclosures. We plan to adopt in in fiscal 2028.
v3.25.2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 12 Months Ended
May 25, 2025
Accounting Policies [Abstract]  
Schedule of Cash and Cash Equivalents
The components of cash and cash equivalents are as follows:
(in millions)May 25, 2025May 26, 2024
Short-term investments$21.3 $2.8 
Credit card receivables176.8 153.0 
Depository accounts41.9 39.0 
Total cash and cash equivalents$240.0 $194.8 
Schedule of Depreciation And Amortization Expense From Continuing Operations Depreciation and amortization expense from continuing operations associated with buildings and equipment and losses on replacement of equipment were as follows:
Fiscal Year Ended
(in millions)May 25, 2025May 26, 2024May 28, 2023
Depreciation and amortization on buildings and equipment$496.1 $435.1 $367.4 
Losses on replacement of equipment3.9 3.0 2.2 
Schedule of Capitalized Software Costs And Related Accumulated Amortization The cost of capitalized software and related accumulated amortization was as follows:
(in millions)May 25, 2025May 26, 2024
Capitalized software$314.8 $292.2 
Accumulated amortization(231.8)(216.5)
Capitalized software, net of accumulated amortization$83.0 $75.7 
Schedule of Costs And Accumulated Amortization Of Acquired Definite-Lived Intangible Assets The cost and related accumulated amortization was as follows:
(in millions)May 25, 2025May 26, 2024
Definite-lived intangible assets$30.7 $30.7 
Accumulated amortization(16.4)(14.5)
Definite-lived intangible assets, net of accumulated amortization$14.3 $16.2 
Definite-lived intangible liabilities$(3.0)$(3.0)
Accumulated amortization2.4 2.1 
Definite-lived intangible liabilities, net of accumulated amortization$(0.6)$(0.9)
Schedule of Amortization Expense Associated With Capitalized Software And Other Definite Lived Intangibles
Amortization expense from continuing operations associated with capitalized software and other definite-lived intangibles included in depreciation and amortization in our accompanying consolidated statements of earnings was as follows:
Fiscal Year Ended
(in millions)May 25, 2025May 26, 2024May 28, 2023
Amortization expense - capitalized software$18.2 $22.9 $18.6 
Amortization expense - other definite-lived intangibles1.8 1.9 1.8 
Schedule of Goodwill And Trademark Balances
Our goodwill and trademark balances are allocated as follows:
GoodwillTrademarks
(in millions)May 25, 2025May 26, 2024May 25, 2025May 26, 2024
Olive Garden $30.2 $30.2 $0.7 $0.7 
LongHorn Steakhouse49.3 49.3 307.8 307.8 
Cheddar’s Scratch Kitchen165.1 165.1 230.1 230.1 
Chuy’s268.4 — 198.4 — 
Yard House369.2 369.2 109.3 109.3 
Ruth’s Chris353.6 353.6 341.7 341.7 
The Capital Grille401.6 401.6 147.4 147.4 
Seasons 52— — 0.5 0.5 
Eddie V’s22.0 22.0 10.5 10.5 
Total$1,659.4 $1,391.0 $1,346.4 $1,148.0 
Schedule of Basic And Diluted Earnings Per Common Share
The following table presents the computation of basic and diluted net earnings per common share:
Fiscal Year Ended
(in millions, except per share data)May 25, 2025May 26, 2024May 28, 2023
Earnings from continuing operations$1,051.0 $1,030.5 $983.5 
Losses from discontinued operations(1.4)(2.9)(1.6)
Net earnings$1,049.6 $1,027.6 $981.9 
Weighted average common shares outstanding – Basic117.5 119.9 121.9 
Effect of dilutive stock-based compensation0.9 0.9 1.0 
Weighted average common shares outstanding – Diluted118.4 120.8 122.9 
Basic net earnings per share:
Earnings from continuing operations$8.94 $8.59 $8.07 
Losses from discontinued operations(0.01)(0.02)(0.01)
Net earnings$8.93 $8.57 $8.06 
Diluted net earnings per share:
Earnings from continuing operations$8.88 $8.53 $8.00 
Losses from discontinued operations(0.02)(0.02)(0.01)
Net earnings$8.86 $8.51 $7.99 
Schedule of Restricted Stock And Options To Purchase Shares Of Common Stock Excluded From Calculation Of Diluted Earnings Per Share
Stock options, restricted stock units and equity-settled performance stock units excluded from the calculation of diluted net earnings per share because the effect would have been anti-dilutive, are as follows:
Fiscal Year Ended
(in millions)May 25, 2025May 26, 2024May 28, 2023
Anti-dilutive stock-based compensation awards0.1 0.1 0.3 
v3.25.2
ACQUISITION OF CHUY’S (Tables)
 12 Months Ended
May 25, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Schedule of Preliminary Allocation of the Purchase Price The allocation of the purchase price as of fiscal year ended May 25, 2025 is as follows:
Balances atAdjustments since acquisitionBalances at
(in millions)October 11, 2024May 25, 2025
Cash and cash equivalents$35.4 $— $35.4 
Other current assets10.9 (0.4)10.5 
Land, buildings and equipment204.3 (7.0)197.3 
Operating lease right-of-use assets337.7 (5.8)331.9 
Trademark198.4 — 198.4 
Other assets6.1 — 6.1 
Goodwill262.9 5.5 268.4 
     Total assets acquired$1,055.7 $(7.7)$1,048.0 
Current liabilities35.2 (0.8)34.4 
Deferred income taxes43.0 (0.1)42.9 
Operating lease liabilities - non-current328.4 (6.8)321.6 
     Total liabilities assumed$406.6 $(7.7)$398.9 
Net assets acquired$649.1 $— $649.1 
v3.25.2
REVENUE RECOGNITION (Tables)
 12 Months Ended
May 25, 2025
Revenue from Contract with Customer [Abstract]  
Schedule of Contract with Customer
Deferred revenue liabilities from contracts with customers included on our accompanying consolidated balance sheets is comprised of the following:
(in millions)May 25, 2025May 26, 2024
Unearned revenues
Deferred gift card revenue$628.8 $620.6 
Deferred gift card discounts(30.1)(29.5)
Other0.7 0.7 
Total$599.4 $591.8 
Other liabilities
Deferred franchise fees - non-current$5.3 $4.9 
The following table presents a rollforward of deferred gift card revenue: 
Fiscal Year Ended
(in millions)May 25, 2025May 26, 2024
Beginning balance$620.6 $537.0 
Acquired deferred gift card revenue2.6 61.8 
Activations737.0 753.7 
Redemptions and breakage(731.4)(731.9)
Ending balance$628.8 $620.6 
v3.25.2
IMPAIRMENTS AND DISPOSAL OF ASSETS, NET (Tables)
 12 Months Ended
May 25, 2025
Asset Impairment Charges [Abstract]  
Schedule of Impairments and Disposal of Assets
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)
v3.25.2
LAND, BUILDINGS AND EQUIPMENT, NET (Tables)
 12 Months Ended
May 25, 2025
Property, Plant and Equipment, Net [Abstract]  
Schedule of Components Of Land, Buildings And Equipment, Net
The components of land, buildings and equipment, net, are as follows:
(in millions)May 25, 2025May 26, 2024
Land$158.8 $132.9 
Buildings4,328.9 4,034.5 
Equipment2,569.6 2,345.4 
Assets under finance leases1,490.3 1,252.3 
Construction in progress234.8 179.1 
Total land, buildings and equipment$8,782.4 $7,944.2 
Less accumulated depreciation and amortization(3,870.3)(3,613.9)
Less amortization associated with assets under finance leases(196.1)(146.0)
Land, buildings and equipment, net$4,716.0 $4,184.3 
v3.25.2
SEGMENT INFORMATION (Tables)
 12 Months Ended
May 25, 2025
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment
The following tables reconcile our segment results to our consolidated results reported in accordance with GAAP:

(in millions)Olive GardenLongHorn SteakhouseFine DiningOther BusinessCorporateConsolidated
At May 25, 2025 and for the year ended
Sales$5,212.9 $3,025.5 $1,304.8 $2,533.5 $— $12,076.7 
Food and beverage1,253.8 1,244.6 414.5 744.1 — 3,657.0 
Restaurant labor1,822.1 780.7 367.7 862.6 — 3,833.1 
Restaurant expenses846.4 408.2 270.8 504.8 (86.2)1,944.0 
Marketing126.7 9.3 9.3 24.6 — 169.9 
Segment profit$1,163.9 $582.7 $242.5 $397.4 $86.2 $2,472.7 
Depreciation and amortization$186.0 $84.3 $70.0 $119.0 $56.8 $516.1 
Impairments and disposal of assets, net(1.5)— 8.0 42.0 0.7 49.2 
Pre-opening costs6.5 6.1 3.8 5.4 3.0 24.8 
Segment assets2,880.5 2,077.1 2,623.5 3,821.0 1,184.9 12,587.0 
Purchases of land, buildings and equipment252.0 144.7 96.3 146.8 4.8 644.6 
(in millions)Olive GardenLongHorn SteakhouseFine DiningOther BusinessCorporateConsolidated
At May 26, 2024 and for the year ended
Sales$5,067.0 $2,806.2 $1,291.5 $2,225.3 $— $11,390.0 
Food and beverage1,242.7 1,180.6 425.2 675.4 — 3,523.9 
Restaurant labor1,783.1 725.1 351.9 759.2 — 3,619.3 
Restaurant expenses812.6 377.3 259.7 433.2 (70.5)1,812.3 
Marketing111.2 6.4 9.7 17.2 — 144.5 
Segment profit$1,117.4 $516.8 $245.0 $340.3 $70.5 $2,290.0 
Depreciation and amortization$167.7 $75.8 $65.9 $102.5 $48.0 $459.9 
Impairments and disposal of assets, net0.2 0.7 — — 11.5 12.4 
Pre-opening costs7.2 5.7 4.0 3.3 4.1 24.3 
Segment assets2,862.4 2,025.7 2,596.5 2,901.1 937.3 11,323.0 
Purchases of land, buildings and equipment260.7 127.4 118.1 97.9 (2.9)601.2 
(in millions)Olive GardenLongHorn SteakhouseFine DiningOther BusinessCorporateConsolidated
At May 28, 2023 and for the year ended
Sales$4,877.8 $2,612.3 $830.8 $2,166.9 $— $10,487.8 
Food and beverage1,243.1 1,126.8 290.7 695.3 — 3,355.9 
Restaurant labor1,716.8 682.0 217.5 730.0 — 3,346.3 
Restaurant expenses788.1 361.4 159.2 422.5 (54.9)1,676.3 
Marketing96.1 5.1 3.6 13.5 — 118.3 
Segment profit$1,033.7 $437.0 $159.8 $305.6 $54.9 $1,991.0 
Depreciation and amortization$146.5 $67.7 $35.6 $96.8 $41.2 $387.8 
Impairments and disposal of assets, net— (3.3)— — (7.3)(10.6)
Pre-opening costs7.9 6.1 1.3 5.0 5.6 25.9 
Purchases of land, buildings and equipment252.5 114.0 57.2 119.6 21.6 564.9 
Schedule of Reconciliation of Operating Profit (Loss) from Segments to Consolidated
Fiscal Year Ended
(in millions)May 25, 2025May 26, 2024May 28, 2023
Segment profit$2,472.7 $2,290.0 $1,991.0 
Less general and administrative expenses(520.3)(479.2)(386.1)
Less depreciation and amortization(516.1)(459.9)(387.8)
Less impairments and disposal of assets, net(49.2)(12.4)10.6 
Less pre-opening costs(24.8)(24.3)(25.9)
Less interest, net(175.1)(138.7)(81.3)
Earnings before income taxes$1,187.2 $1,175.5 $1,120.5 
v3.25.2
DEBT (Tables)
 12 Months Ended
May 25, 2025
Debt Disclosure [Abstract]  
Schedule of Components of Long-Term Debt
The components of long-term debt are as follows:
(in millions)May 25, 2025May 26, 2024
3.850% senior notes due May 2027
$500.0 $500.0 
4.350% senior notes due October 2027
400.0 — 
4.550% senior notes due October 2029
350.0 — 
6.300% senior notes due October 2033
500.0 500.0 
6.000% senior notes due August 2035
96.3 96.3 
6.800% senior notes due October 2037
42.8 42.8 
4.550% senior notes due February 2048
300.0 300.0 
Total long-term debt$2,189.1 $1,439.1 
Fair value hedge(40.0)(51.8)
Less unamortized discount and issuance costs(20.2)(16.9)
Total long-term debt less unamortized discount and issuance costs$2,128.9 $1,370.4 
Schedule of Maturities of Long-term Debt
The aggregate contractual maturities of long-term debt for each of the five fiscal years subsequent to May 25, 2025, and thereafter are as follows:
(in millions)
Fiscal Year20262027202820292030Thereafter
Debt repayments$— $500.0 $400.0 $— $350.0 $939.1 
v3.25.2
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)
 12 Months Ended
May 25, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Notional and Fair Values of Derivative Contracts
The notional and fair values of our derivative contracts are as follows:
Fair Values
(in millions, except
per share data)		Number of Shares OutstandingWeighted-Average
 Per Share Forward Rates		Notional ValuesDerivative Assets (1)Derivative Liabilities (1)
May 25, 2025May 25, 2025May 26, 2024May 25, 2025May 26, 2024
Equity Forwards
Designated
0.2 $145.57 $23.7 $— $— $0.8 $0.8 
Not designated
0.4 $139.89 $61.7 — — 2.2 2.4 
Total equity forwards (2)$— $— $3.0 $3.2 
Commodity contracts
     DesignatedN/AN/A$13.8 $— $0.1 $0.9 $0.7 
     Not designatedN/AN/A$— — — — — 
Total commodity contracts (3)$— $0.1 $0.9 $0.7 
Interest rate related
     DesignatedN/AN/A$300.0 $— $— $40.0 $51.8 
     Not designatedN/AN/A$— $— $— $— 
Total interest rate related$— $— $40.0 $51.8 
Foreign Exchange Forwards
DesignatedN/AN/A$18.0 $— $— $0.2 $— 
Not designatedN/AN/A$— $— $— $— 
Total foreign exchange forwards (4)$— $— $0.2 $— 
Total derivative contracts$— $0.1 $44.1 $55.7 
(1)Derivative assets and liabilities are included in receivables, net, and other current liabilities, as applicable, on our consolidated balance sheets.
(2)Designated and undesignated equity forwards extend through July 2028.
(3)Commodity contracts extend through June 2026.
(4)Foreign exchange forwards extend through July 2025.
Schedule of Effects of Derivative Instruments in Hedging Relationships
The effects of derivative instruments in cash flow hedging relationships in the consolidated statements of earnings are as follows:
Amount of Gain (Loss) Recognized in AOCIAmount of Gain (Loss) Reclassified from AOCI to Earnings
Fiscal Year EndedFiscal Year Ended
(in millions)May 25, 2025May 26, 2024May 28, 2023May 25, 2025May 26, 2024May 28, 2023
Equity (1)$9.0 $(6.4)$8.0 $0.1 $1.3 $(0.8)
Commodity (2)(1.9)(1.9)(9.2)(1.6)(6.9)(3.1)
Interest rate (3)— 34.9 — 3.4 2.2 (0.1)
Foreign exchange(0.2)— — — — — 
Total$6.9 $26.6 $(1.2)$1.9 $(3.4)$(4.0)
(1)Location of the gain (loss) reclassified from AOCI to earnings is general and administrative expenses.
(2)Location of the gain (loss) reclassified from AOCI to earnings is food and beverage costs and restaurant expenses.
(3)Location of the gain (loss) reclassified from AOCI to earnings is interest, net.

The effects of derivative instruments in fair value hedging relationships in the consolidated statements of earnings are as follows:

Amount of Gain (Loss) Recognized in Earnings on DerivativesAmount of Gain (Loss) Recognized in Earnings on Related Hedged Item
Fiscal Year EndedFiscal Year Ended
(in millions)May 25, 2025May 26, 2024May 28, 2023May 25, 2025May 26, 2024May 28, 2023
Interest rate (1)(2)$11.8 $(6.4)$(17.4)$(11.8)$6.4 $17.4 

(1) Location of the gain (loss) recognized in earnings on derivatives and related hedged item is interest, net.
(2) Hedged item in fair value hedge relationship is debt.

The effects of derivatives not designated as hedging instruments in the consolidated statements of earnings are as follows:
Amount of Gain (Loss)
Recognized in Earnings
(in millions)Fiscal Year Ended
Location of Gain (Loss) Recognized in Earnings on DerivativesMay 25, 2025May 26, 2024May 28, 2023
General and administrative expenses25.6 (3.1)18.3 
v3.25.2
FAIR VALUE MEASUREMENTS (Tables)
 12 Months Ended
May 25, 2025
Fair Value Disclosures [Abstract]  
Schedule of Fair Values Of Financial Instruments Measured At Fair Value On Recurring Basis
The following tables summarize the fair values of financial instruments measured at fair value on a recurring basis at May 25, 2025 and May 26, 2024:
Items Measured at Fair Value at May 25, 2025
(in millions)Fair Value
of Assets
(Liabilities)		Quoted Prices
in Active
Market for
Identical Assets
(Liabilities)
(Level 1)		Significant
Other
Observable
Inputs
(Level 2)		Significant
Unobservable Inputs
(Level 3)
Derivatives:
Commodities futures, swaps & options(1)$(0.9)$— $(0.9)$— 
Equity forwards(2)(3.0)— (3.0)— 
Interest rate swaps(3)(40.0)— (40.0)— 
Foreign exchange forwards(4)(0.2)(0.2)
Total$(44.1)$— $(44.1)$— 
Items Measured at Fair Value at May 26, 2024
(in millions)Fair Value
of Assets
(Liabilities)		Quoted Prices
in Active
Market for
Identical Assets
(Liabilities)
(Level 1)		Significant
Other
Observable
Inputs
(Level 2)		Significant
Unobservable Inputs
    (Level 3)    
Derivatives:
Commodities futures, swaps & options(1)$(0.6)$— $(0.6)$— 
Equity forwards(2)(3.2)— (3.2)— 
Interest rate swaps(3)(51.8)— (51.8)— 
Total$(55.6)$— $(55.6)$— 
(1)The fair value of our commodities futures, swaps and options is based on closing market prices of the contracts, inclusive of the risk of nonperformance.
(2)The fair value of equity forwards is based on the closing market value of Darden stock, inclusive of the risk of nonperformance.
(3)The fair value of our interest rate swap agreements is based on current and expected market interest rates, inclusive of the risk of nonperformance.
(4)The fair value of our foreign exchange forwards is based on closing forward exchange market prices, inclusive of the risk of nonperformance.
v3.25.2
STOCKHOLDERS' EQUITY (Tables)
 12 Months Ended
May 25, 2025
Stockholders' Equity Note [Abstract]  
Schedule of Accumulated Other Comprehensive Income (Loss)
The components of accumulated other comprehensive income (loss), net of tax, are as follows:
(in millions)Foreign Currency Translation AdjustmentUnrealized Gains (Losses) on DerivativesBenefit Plan Funding PositionAccumulated Other Comprehensive Income (Loss)
Balances at May 28, 2023$4.5 $3.9 $(5.2)$3.2 
Gain (loss)0.1 18.4 1.1 19.6 
Reclassification realized in net earnings— 2.2 0.6 2.8 
Balances at May 26, 2024$4.6 $24.5 $(3.5)$25.6 
Gain (loss)— 7.4 (0.2)7.2 
Reclassification realized in net earnings— (1.5)0.5 (1.0)
Balances at May 25, 2025$4.6 $30.4 $(3.2)$31.8 
Schedule of Reclassification out of AOCI
The following table presents the amounts and line items in our consolidated statements of earnings where other adjustments reclassified from AOCI into net earnings were recorded:
Fiscal Year Ended
(in millions)
AOCI Components		Location of Gain (Loss) Recognized in EarningsMay 25,
2025		May 26,
2024
Derivatives
Commodity contracts
(1)$(1.6)$(6.9)
Equity contracts
(2)0.1 1.3 
Interest rate contracts
(3)3.4 2.2 
Total before tax$1.9 $(3.4)
Tax benefit(0.4)1.2 
Net of tax$1.5 $(2.2)

Fiscal Year Ended
(in millions)
AOCI Components		Location of Gain (Loss) Recognized in EarningsMay 25,
2025		May 26,
2024
Benefit plan funding position
Pension/postretirement plans- actuarial losses(4)$— $(0.1)
Recognized net actuarial gain (loss) - other plans(5)(0.7)(0.7)
Total before tax$(0.7)$(0.8)
Tax benefit0.2 0.2 
Net of tax$(0.5)$(0.6)

(1)Primarily included in food and beverage costs and restaurant expenses. See Note 8 for additional details.
(2)Included in general and administrative expenses. See Note 8 for additional details.
(3)Included in interest, net, on our consolidated statements of earnings.
(4)Included in the computation of net periodic benefit costs - pension and postretirement plans, which is a component of other (income) expense, net, restaurant labor expenses and general and administrative expenses. See Note 14 for additional details.
(5)Included in the computation of net periodic benefit costs - other plans, which is a component of restaurant labor, and general and administrative expenses.
v3.25.2
LEASES (Tables)
 12 Months Ended
May 25, 2025
Leases [Abstract]  
Schedule of Components of Lease Expenses and Cash Flow Information
The components of lease expense for continuing operations in the consolidated statements of earnings for the fiscal years ended May 25, 2025, May 26, 2024 and May 28, 2023 are as follows:
(in millions)May 25, 2025May 26, 2024May 28, 2023
Operating lease expense$413.7 $404.6 $377.9 
Finance lease expense
Amortization of leased assets57.2 48.1 41.2 
Interest on lease liabilities67.7 54.2 44.3 
Variable lease expense35.6 34.6 22.6 
Total lease expense$574.2 $541.5 $486.0 
Supplemental cash flow information related to leases for the fiscal years ended May 25, 2025, May 26, 2024 and May 28, 2023:
(in millions)May 25, 2025May 26, 2024May 28, 2023
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases (1)$410.4 $397.2 $367.6 
Operating cash flows from finance leases67.7 54.2 44.3 
Financing cash flows from finance leases (1) 22.8 22.0 19.8 
Right-of-use assets obtained in exchange for new operating lease liabilities (2)373.0 341.2 131.5 
Right-of-use assets obtained in exchange for new finance lease liabilities152.8 97.3 75.1 
Net change in right-of-use assets mainly due to lease modifications resulting in reclassification of leases from operating to finance81.5 49.886.3
(1) Excludes cash received for any lease incentives.
(2) Right-of-use assets obtained in fiscal 2025 and fiscal 2024 includes $331.9 million from the acquisition of Chuy’s and $303.4 million from the acquisition of Ruth’s Chris, respectively.
Schedule of Components of Lease Assets and Liabilities
The components of lease assets and liabilities on the consolidated balance sheet as of May 25, 2025 and May 26, 2024 are as follows:
(in millions)Balance Sheet ClassificationMay 25, 2025May 26, 2024
Operating lease right-of-use assetsOperating lease right-of-use assets$3,555.9 $3,429.3 
Finance lease right-of-use assetsLand, buildings and equipment, net1,294.2 1,106.3 
Total lease assets, net$4,850.1 $4,535.6 
Operating lease liabilities - currentOther current liabilities$220.1 $198.8 
Finance lease liabilities - currentOther current liabilities23.8 15.3 
Operating lease liabilities - non-currentOperating lease liabilities - non-current3,816.9 3,704.7 
Finance lease liabilities - non-currentOther liabilities1,583.8 1,357.1 
Total lease liabilities$5,644.6 $5,275.9 
The weighted-average remaining lease terms and discount rates as of May 25, 2025 and May 26, 2024 are as follows:
(in millions)May 25, 2025May 26, 2024
Weighted-Average Remaining Lease Term (Years)
   Operating leases14.814.8
   Finance leases22.322.2
Weighted-Average Discount Rate (1)
   Operating leases4.6 %4.5 %
   Finance leases4.7 %4.4 %
(1)We cannot determine the interest rate implicit in our leases. Therefore, the discount rate represents our incremental borrowing rate and is determined based on the risk-free rate, adjusted for the risk premium attributed to our corporate credit rating for a secured or collateralized instrument.
Schedule of Maturities of Operating Lease Liabilities
The annual maturities of our lease liabilities as of May 25, 2025 are as follows:
(in millions)
Fiscal YearOperating LeasesFinance Leases
2026438.0 102.9
2027443.5 107.6
2028435.8 109.4
2029420.0 111.2
2030403.7 113.2
Thereafter3,648.7 2,200.6 
Total future lease commitments (1)$5,789.7 $2,744.9 
Less imputed interest(1,752.7)(1,137.3)
Present value of lease liabilities (2)$4,037.0 $1,607.6 
(1)Of the $5,789.7 million of total future operating lease commitments and $2,744.9 million of total future finance lease commitments, $2,250.1 million and $815.9 million, respectively, are non-cancelable.
(2)Excludes approximately $194.4 million of net present value of lease payments related to 52 real estate leases signed, but not yet commenced.
Schedule of Maturities of Financing Lease Liabilities
The annual maturities of our lease liabilities as of May 25, 2025 are as follows:
(in millions)
Fiscal YearOperating LeasesFinance Leases
2026438.0 102.9
2027443.5 107.6
2028435.8 109.4
2029420.0 111.2
2030403.7 113.2
Thereafter3,648.7 2,200.6 
Total future lease commitments (1)$5,789.7 $2,744.9 
Less imputed interest(1,752.7)(1,137.3)
Present value of lease liabilities (2)$4,037.0 $1,607.6 
(1)Of the $5,789.7 million of total future operating lease commitments and $2,744.9 million of total future finance lease commitments, $2,250.1 million and $815.9 million, respectively, are non-cancelable.
(2)Excludes approximately $194.4 million of net present value of lease payments related to 52 real estate leases signed, but not yet commenced.
v3.25.2
ADDITIONAL FINANCIAL INFORMATION (Tables)
 12 Months Ended
May 25, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Receivables From Various Parties
The tables below provide additional financial information related to our consolidated financial statements:
Balance Sheets
(in millions)May 25, 2025May 26, 2024
Receivables, net
Gift card sales
$42.2 $41.8 
Miscellaneous
52.2 37.7 
Allowance for doubtful accounts
(0.6)(0.4)
Total
$93.8 $79.1 
Other Current Liabilities
Non-qualified deferred compensation plan
$301.9 $274.8 
Sales and other taxes
124.3 104.2 
Insurance-related
41.6 44.8 
Employee benefits
59.4 55.1 
Accrued interest
21.4 20.2 
Lease liabilities - current
243.9 214.1 
Derivatives44.1 55.7 
Miscellaneous
76.7 78.3 
Total$913.3 $847.2 
Schedule of Components Of Other Current Liabilities
The tables below provide additional financial information related to our consolidated financial statements:
Balance Sheets
(in millions)May 25, 2025May 26, 2024
Receivables, net
Gift card sales
$42.2 $41.8 
Miscellaneous
52.2 37.7 
Allowance for doubtful accounts
(0.6)(0.4)
Total
$93.8 $79.1 
Other Current Liabilities
Non-qualified deferred compensation plan
$301.9 $274.8 
Sales and other taxes
124.3 104.2 
Insurance-related
41.6 44.8 
Employee benefits
59.4 55.1 
Accrued interest
21.4 20.2 
Lease liabilities - current
243.9 214.1 
Derivatives44.1 55.7 
Miscellaneous
76.7 78.3 
Total$913.3 $847.2 
Schedule of Components Of Interest
Statements of Earnings
Fiscal Year Ended
(in millions)May 25, 2025May 26, 2024May 28, 2023
Interest, net
Interest expense$115.9 $93.5 $50.2 
Imputed interest on finance leases67.7 54.2 44.3 
Capitalized interest
(5.1)(4.5)(5.4)
Interest income
(3.4)(4.5)(7.8)
Total$175.1 $138.7 $81.3 
Schedule of Cash Flow, Supplemental Disclosures
Statements of Cash Flows
Fiscal Year Ended
(in millions)May 25, 2025May 26, 2024May 28, 2023
Cash paid during the fiscal year for:
Interest, net of amounts capitalized$171.9 $135.1 $82.4 
Income taxes, net of refunds
$148.5 $136.3 $47.4 
Non-cash investing and financing activities:
Increase in land, buildings and equipment through accrued purchases
$47.0 $40.0 $66.7 
v3.25.2
INCOME TAXES (Tables)
 12 Months Ended
May 25, 2025
Income Tax Disclosure [Abstract]  
Schedule of Allocation of Total Income Tax Expense
Total income tax expense (benefit) was allocated as follows:
Fiscal Year Ended
(in millions)May 25, 2025May 26, 2024May 28, 2023
Earnings from continuing operations$136.2 $145.0 $137.0 
Loss from discontinued operations(0.8)(1.7)(0.8)
Total consolidated income tax expense (benefit)$135.4 $143.3 $136.2 
Schedule of Components of Earnings Before Income Tax And Provision For Income Taxes
The components of earnings from continuing operations before income taxes and the provision for income taxes thereon are as follows:
Fiscal Year Ended
(in millions)May 25, 2025May 26, 2024May 28, 2023
Earnings from continuing operations before income taxes:
U.S.$1,180.6 $1,169.2 $1,117.3 
Foreign6.6 6.3 3.2 
Earnings from continuing operations before income taxes$1,187.2 $1,175.5 $1,120.5 
Income taxes:
Current:
Federal$80.9 $99.2 $165.9 
State and local54.4 43.5 25.6 
Foreign— 3.0 1.6 
Total current$135.3 $145.7 $193.1 
Deferred (principally U.S.):
Federal$0.2 $(0.7)$(69.2)
State and local0.7 — 13.1 
Total deferred$0.9 $(0.7)$(56.1)
Total income tax expense$136.2 $145.0 $137.0 
Schedule of Effective Income Tax Rate Reconciliation
The following table is a reconciliation of the U.S. statutory income tax rate to the effective income tax rate from continuing operations included in the accompanying consolidated statements of earnings:
Fiscal Year Ended
May 25, 2025May 26, 2024May 28, 2023
U.S. statutory rate21.0 %21.0 %21.0 %
State and local income taxes, net of federal tax benefits3.8 3.3 3.1 
Benefit of federal income tax credits(11.0)(10.5)(10.4)
Stock-based compensation tax benefit(0.7)(1.1)(0.9)
Other, net(1.6)(0.4)(0.6)
Effective income tax rate11.5 %12.3 %12.2 %
Schedule of Unrecognized Tax Benefits
A reconciliation of the beginning and ending amount of unrecognized tax benefits follows:
(in millions)
Balances at May 26, 2024$22.7 
Additions related to current-year tax positions5.6 
Additions related to prior-year tax positions0.7 
Net reductions due to settlements with taxing authorities(4.4)
Reductions to tax positions due to statute expiration(3.2)
Balances at May 25, 2025$21.4 
Schedule of Interest Expense on Income Tax Expense (Benefits)
Interest included in income tax expense in our consolidated statements of earnings is as follows:
Fiscal Year Ended
(in millions)May 25, 2025May 26, 2024May 28, 2023
Interest recorded on unrecognized tax benefits$1.4 $1.7 $2.2 
Interest recorded on income tax receivables$(6.3)$(6.9)$(6.8)
Total (Benefit) Expense$(4.9)$(5.2)$(4.6)
Schedule of Tax Effects on Deferred Tax Assets And Liabilities
The tax effects of temporary differences that give rise to deferred tax assets and liabilities are as follows:
(in millions)May 25, 2025May 26, 2024
Accrued liabilities$149.8 $136.4 
Compensation and employee benefits136.2 127.8 
Lease liabilities1,430.1 1,332.4 
Net operating loss, credit and charitable contribution carryforwards84.1 71.8 
Other— 1.0 
Gross deferred tax assets$1,800.2 $1,669.4 
Valuation allowance(19.8)(26.8)
Deferred tax assets, net of valuation allowance$1,780.4 $1,642.6 
Trademarks and other acquisition related intangibles(330.1)(274.6)
Buildings and equipment(409.2)(373.5)
Capitalized software and other assets(33.3)(30.4)
Lease assets(1,266.1)(1,183.8)
Other(20.5)(12.3)
Gross deferred tax liabilities$(2,059.2)$(1,874.6)
Net deferred tax liabilities$(278.8)$(232.0)
v3.25.2
STOCK-BASED COMPENSATION (Tables)
 12 Months Ended
May 25, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Recognized Stock-Based Compensation Expense
Stock-based compensation expense included in continuing operations was as follows:  
Fiscal Year Ended
(in millions)May 25, 2025May 26, 2024May 28, 2023
Stock options$7.5 $6.8 $6.3 
Restricted stock units9.8 8.6 7.4 
Darden stock units37.3 31.9 34.8 
Equity-settled performance-based restricted stock units19.4 16.1 14.3 
Employee stock purchase plan3.2 3.0 2.8 
Director compensation program/other1.9 2.1 1.9 
Total$79.1 $68.5 $67.5 
Excess income tax benefits related to the exercise of stock options and vesting of other equity-settled stock-based compensation recognized in income tax expense from continuing operations was as follows:  
Fiscal Year Ended
(in millions)May 25, 2025May 26, 2024May 28, 2023
Income tax benefits$11.8 $12.7 $6.5 
Schedule of Weighted-Average Fair Value and Related Assumptions for Stock-Based Compensation
The weighted-average fair value of non-qualified stock options and the related assumptions used in the Black-Scholes model to record stock-based compensation are as follows:
  
Granted in Fiscal Year Ended
May 25, 2025May 26, 2024May 28, 2023
Weighted-average fair value$44.79 $55.56 $36.20 
Dividend yield3.6 %3.4 %3.8 %
Expected volatility of stock40.8 %42.2 %42.0 %
Risk-free interest rate4.1 %4.0 %2.8 %
Expected option life (in years)6.35.95.9
Weighted-average exercise price per share$139.43 $169.02 $121.47 
The weighted-average grant date fair value of equity-settled PRSUs and the related assumptions used in the Monte Carlo simulation to record stock-based compensation are as follows:
  
Granted in Fiscal Year Ended
May 25, 2025May 26, 2024May 28, 2023
Dividend yield (1)0.0 %0.0 %0.0 %
Expected volatility of stock26.5 %32.3 %55.5 %
Risk-free interest rate4.2 %4.5 %2.9 %
Expected option life (in years)2.92.92.8
Weighted-average grant date fair value per unit$181.65 $217.11 $137.73 
(1)Assumes a reinvestment of dividends.
Schedule of Stock Option Activity
The following table presents a summary of our stock option activity as of and for the year ended May 25, 2025:
  Options
(in millions)		Weighted-Average
Exercise Price
Per Share		Weighted-Average
Remaining
Contractual Life (Yrs)		Aggregate
Intrinsic Value
(in millions)
Outstanding beginning of period1.34$111.085.68$51.6
Options granted0.17139.43
Options exercised(0.48)90.10
Options canceled——
Outstanding end of period1.03$125.306.16$80.9
Exercisable0.51$108.754.41$49.0
Schedule of Restricted Stock and RSU Activity
The following table presents a summary of our RSU activity as of and for the fiscal year ended May 25, 2025:
  Shares
(in millions)		Weighted-Average
Grant Date Fair
Value Per Share
Outstanding beginning of period0.26$132.38
Shares granted0.08148.94
Shares vested(0.07)136.62
Shares canceled(0.01)158.78
Outstanding end of period0.26$135.67
Schedule of Darden Stock Unit Activity
The following table presents a summary of our Darden stock unit activity as of and for the fiscal year ended May 25, 2025:
(All units settled in cash)Units
(in millions)		Weighted-Average
Fair Value
Per Unit
Outstanding beginning of period0.76$147.60
Units granted0.20145.03
Units vested(0.29)149.87
Units canceled(0.03)139.35
Outstanding end of period0.64$204.02
Schedule of Performance Stock Unit Activity
The following table presents a summary of our equity-settled PRSU activity as of and for the fiscal year ended May 25, 2025:
Units
(in millions)		Weighted-Average
Grant Date
Fair Value
Per Unit
Outstanding beginning of period0.35$152.39
Units granted0.11181.65
Units granted/canceled performance impact0.02158.40
Units vested(0.15)126.63
Units canceled——
Outstanding end of period0.33$175.95
v3.25.2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details)
$ / shares in Units, $ in Millions, $ in Millions
 12 Months Ended
May 25, 2025
USD ($)
reportingUnit
restaurant
May 26, 2024
USD ($)
May 28, 2023
USD ($)
Apr. 25, 2025
CAD ($)
restaurant
Feb. 23, 2025
restaurant
Oct. 11, 2024
$ / shares
Summary of Significant Accounting Policies [Line Items]            
Restricted cash $ 14.5 $ 25.3 $ 48.4      
Future amortization expense, year one 25.0          
Future amortization expense, year two 25.0          
Future amortization expense, year three 25.0          
Future amortization expense, year four 25.0          
Future amortization expense, year five $ 25.0          
Number of reporting units | reportingUnit 11          
Gift cards breakage redemption period 12 years          
Aggregate cumulative translation gains (losses) $ 4.6 4.6        
Foreign currency transaction gains (losses) $ 0.0 $ 0.0 $ 0.0      
Franchise | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-05-26            
Summary of Significant Accounting Policies [Line Items]            
Revenue recognition term 10 years          
Goodwill            
Summary of Significant Accounting Policies [Line Items]            
Number of reporting units | reportingUnit 8          
Trademarks            
Summary of Significant Accounting Policies [Line Items]            
Number of reporting units | reportingUnit 9          
Minimum            
Summary of Significant Accounting Policies [Line Items]            
Renewal period of lease arrangements 5 years          
Minimum | Capitalized Software            
Summary of Significant Accounting Policies [Line Items]            
Finite-lived intangible asset, useful life 1 year          
Minimum | Definite-Lived Intangible Assets            
Summary of Significant Accounting Policies [Line Items]            
Finite-lived intangible asset, useful life 1 year          
Minimum | Building            
Summary of Significant Accounting Policies [Line Items]            
Estimated useful life of property, plant and equipment 3 years          
Minimum | Equipment            
Summary of Significant Accounting Policies [Line Items]            
Estimated useful life of property, plant and equipment 2 years          
Maximum            
Summary of Significant Accounting Policies [Line Items]            
Renewal period of lease arrangements 20 years          
Maximum | Capitalized Software            
Summary of Significant Accounting Policies [Line Items]            
Finite-lived intangible asset, useful life 10 years          
Maximum | Definite-Lived Intangible Assets            
Summary of Significant Accounting Policies [Line Items]            
Finite-lived intangible asset, useful life 20 years          
Maximum | Building            
Summary of Significant Accounting Policies [Line Items]            
Estimated useful life of property, plant and equipment 30 years          
Maximum | Equipment            
Summary of Significant Accounting Policies [Line Items]            
Estimated useful life of property, plant and equipment 20 years          
Disposal Group, Held-for-Sale, Not Discontinued Operations | Olive Garden Canada            
Summary of Significant Accounting Policies [Line Items]            
Number of restaurants | restaurant       8    
Sale price       $ 60.0    
Chuy’s            
Summary of Significant Accounting Policies [Line Items]            
Acquisition price per share (in dollars per share) | $ / shares           $ 37.50
Chuy’s | Minimum            
Summary of Significant Accounting Policies [Line Items]            
Estimated useful life of property, plant and equipment           1 year
Chuy’s | Maximum            
Summary of Significant Accounting Policies [Line Items]            
Estimated useful life of property, plant and equipment           30 years
Franchised Units | Bahama Breeze Brand            
Summary of Significant Accounting Policies [Line Items]            
Number of restaurants | restaurant 1          
Entity Operated Units | Bahama Breeze Brand            
Summary of Significant Accounting Policies [Line Items]            
Number of restaurants | restaurant 28          
North America | Entity Operated Units, Joint Venture            
Summary of Significant Accounting Policies [Line Items]            
Number of restaurants | restaurant         5  
North America | Franchised Units            
Summary of Significant Accounting Policies [Line Items]            
Number of restaurants | restaurant 85          
Canada, Latin America, Caribbean, Asia And Middle East | Franchised Units            
Summary of Significant Accounting Policies [Line Items]            
Number of restaurants | restaurant 69          
v3.25.2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Cash and Cash Equivalents (Details) - USD ($)
$ in Millions
May 25, 2025
May 26, 2024
May 28, 2023
Cash and Cash Equivalents [Line Items]      
Cash and cash equivalents $ 240.0 $ 194.8 $ 367.8
Short-term investments      
Cash and Cash Equivalents [Line Items]      
Cash and cash equivalents 21.3 2.8  
Credit card receivables      
Cash and Cash Equivalents [Line Items]      
Cash and cash equivalents 176.8 153.0  
Depository accounts      
Cash and Cash Equivalents [Line Items]      
Cash and cash equivalents $ 41.9 $ 39.0  
v3.25.2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Depreciation And Amortization Expense From Continuing Operations Related To Land, Buildings And Equipment (Details) - USD ($)
$ in Millions
 12 Months Ended
May 25, 2025
May 26, 2024
May 28, 2023
Property, Plant and Equipment [Line Items]      
Depreciation and amortization on buildings and equipment $ 516.1 $ 459.9 $ 387.8
Losses on replacement of equipment 3.9 3.0 2.2
Buildings and Equipment      
Property, Plant and Equipment [Line Items]      
Depreciation and amortization on buildings and equipment $ 496.1 $ 435.1 $ 367.4
v3.25.2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Capitalized Software Costs And Related Accumulated Amortization (Details) - USD ($)
$ in Millions
May 25, 2025
May 26, 2024
Accounting Policies [Abstract]    
Capitalized software $ 314.8 $ 292.2
Accumulated amortization (231.8) (216.5)
Capitalized software, net of accumulated amortization $ 83.0 $ 75.7
v3.25.2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Costs And Accumulated Amortization Of Acquired Definite-Lived Intangible Assets (Details) - USD ($)
$ in Millions
May 25, 2025
May 26, 2024
Accounting Policies [Abstract]    
Definite-lived intangible assets $ 30.7 $ 30.7
Accumulated amortization (16.4) (14.5)
Definite-lived intangible assets, net of accumulated amortization 14.3 16.2
Definite-lived intangible liabilities (3.0) (3.0)
Accumulated amortization 2.4 2.1
Definite-lived intangible liabilities, net of accumulated amortization $ (0.6) $ (0.9)
v3.25.2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Amortization Expense Associated With Capitalized Software And Other Definite Lived Intangibles (Details) - USD ($)
$ in Millions
 12 Months Ended
May 25, 2025
May 26, 2024
May 28, 2023
Accounting Policies [Abstract]      
Amortization expense - capitalized software $ 18.2 $ 22.9 $ 18.6
Amortization expense - other definite-lived intangibles $ 1.8 $ 1.9 $ 1.8
v3.25.2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Goodwill and Trademark Balances (Details) - USD ($)
$ in Millions
May 25, 2025
May 26, 2024
Goodwill And Other Intangibles [Line Items]    
Goodwill $ 1,659.4 $ 1,391.0
Trademarks 1,346.4 1,148.0
Olive Garden    
Goodwill And Other Intangibles [Line Items]    
Goodwill 30.2 30.2
Trademarks 0.7 0.7
LongHorn Steakhouse    
Goodwill And Other Intangibles [Line Items]    
Goodwill 49.3 49.3
Trademarks 307.8 307.8
Cheddar’s Scratch Kitchen    
Goodwill And Other Intangibles [Line Items]    
Goodwill 165.1 165.1
Trademarks 230.1 230.1
Chuy’s    
Goodwill And Other Intangibles [Line Items]    
Goodwill 268.4 0.0
Trademarks 198.4 0.0
Yard House    
Goodwill And Other Intangibles [Line Items]    
Goodwill 369.2 369.2
Trademarks 109.3 109.3
Ruth’s Chris    
Goodwill And Other Intangibles [Line Items]    
Goodwill 353.6 353.6
Trademarks 341.7 341.7
The Capital Grille    
Goodwill And Other Intangibles [Line Items]    
Goodwill 401.6 401.6
Trademarks 147.4 147.4
Seasons 52    
Goodwill And Other Intangibles [Line Items]    
Goodwill 0.0 0.0
Trademarks 0.5 0.5
Eddie V’s    
Goodwill And Other Intangibles [Line Items]    
Goodwill 22.0 22.0
Trademarks $ 10.5 $ 10.5
v3.25.2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Basic And Diluted Earnings Per Common Share (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 12 Months Ended
May 25, 2025
May 26, 2024
May 28, 2023
Accounting Policies [Abstract]      
Earnings from continuing operations $ 1,051.0 $ 1,030.5 $ 983.5
Losses from discontinued operations (1.4) (2.9) (1.6)
Net earnings $ 1,049.6 $ 1,027.6 $ 981.9
Weighted average common shares outstanding - Basic (in shares) 117.5 119.9 121.9
Effect of diluted stock-based compensation (in shares) 0.9 0.9 1.0
Weighted average common shares outstanding - Diluted (in shares) 118.4 120.8 122.9
Basic net earnings per share:      
Earnings from continuing operations (in dollars per share) $ 8.94 $ 8.59 $ 8.07
Losses from discontinued operations (in dollars per share) (0.01) (0.02) (0.01)
Net earnings (in dollars per share) 8.93 8.57 8.06
Diluted net earnings per share:      
Earnings from continuing operations (in dollars per share) 8.88 8.53 8.00
Losses from discontinued operations (in dollars per share) (0.02) (0.02) (0.01)
Net earnings (in dollars per share) $ 8.86 $ 8.51 $ 7.99
v3.25.2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Restricted Stock And Options To Purchase Shares Of Common Stock Excluded From Calculation Of Diluted Earnings Per Share (Details) - shares
shares in Millions
 12 Months Ended
May 25, 2025
May 26, 2024
May 28, 2023
Accounting Policies [Abstract]      
Anti-dilutive stock-based compensation awards (in shares) 0.1 0.1 0.3
v3.25.2
ACQUISITION OF CHUY’S - Narrative (Details)
 12 Months Ended
Oct. 11, 2024
USD ($)
location
May 25, 2025
USD ($)
May 26, 2024
USD ($)
May 28, 2023
USD ($)
Oct. 03, 2024
USD ($)
Business Combination [Line Items]          
Net of cash acquired   $ 613,700,000 $ 701,100,000 $ 0  
Goodwill   1,659,400,000 $ 1,391,000,000    
Senior Notes | 4.350% Senior Notes Due 2027          
Business Combination [Line Items]          
Aggregate principal amount of debt issued         $ 400,000,000
Debt instrument, interest rate         4.35%
Senior Notes | 4.550% Senior Notes Due 2029          
Business Combination [Line Items]          
Aggregate principal amount of debt issued         $ 350,000,000
Debt instrument, interest rate         4.55%
Chuy’s          
Business Combination [Line Items]          
Equity interest acquired 100.00%        
All-cash transaction consideration $ 649,100,000        
Net of cash acquired 613,700,000        
Cash acquired from acquisition $ 35,400,000        
Number of restaurant acquired | location 103        
Goodwill $ 262,900,000 268,400,000      
Acquisition and related integration efforts incurred expenses   44,600,000      
Net of tax acquisition and related integration efforts incurred expenses   $ 36,700,000      
Chuy’s | Minimum          
Business Combination [Line Items]          
Depreciation period of buildings and equipment 1 year        
Chuy’s | Maximum          
Business Combination [Line Items]          
Depreciation period of buildings and equipment 30 years        
v3.25.2
ACQUISITION OF CHUY’S - Schedule of Preliminary Allocation of the Purchase Price (Details) - USD ($)
$ in Millions
 7 Months Ended
May 25, 2025
Oct. 11, 2024
May 26, 2024
Business Combination [Line Items]      
Goodwill $ 1,659.4   $ 1,391.0
Chuy’s      
Business Combination [Line Items]      
Cash and cash equivalents 35.4 $ 35.4  
Other current assets 10.5 10.9  
Land, buildings and equipment 197.3 204.3  
Operating lease right-of-use assets 331.9 337.7  
Trademark 198.4 198.4  
Other assets 6.1 6.1  
Goodwill 268.4 262.9  
Total assets acquired 1,048.0 1,055.7  
Current liabilities 34.4 35.2  
Deferred income taxes 42.9 43.0  
Operating lease liabilities - non-current 321.6 328.4  
Total liabilities assumed 398.9 406.6  
Net assets acquired 649.1 $ 649.1  
Adjustments since acquisition      
Other current assets (0.4)    
Land, buildings and equipment (7.0)    
Operating lease right-of-use assets (5.8)    
Goodwill 5.5    
Total assets acquired (7.7)    
Current liabilities (0.8)    
Deferred income taxes (0.1)    
Operating lease liabilities - non-current (6.8)    
Total liabilities assumed (7.7)    
Net assets acquired $ 0.0    
v3.25.2
REVENUE RECOGNITION - Schedule of Deferred Revenue from Contract with Customer (Details) - USD ($)
$ in Millions
May 25, 2025
May 26, 2024
May 28, 2023
Unearned revenues      
Total $ 599.4 $ 591.8  
Other liabilities      
Deferred franchise fees - non-current 5.3 4.9  
Gift Card      
Unearned revenues      
Deferred revenues 628.8 620.6 $ 537.0
Deferred gift card discounts (30.1) (29.5)  
Other      
Unearned revenues      
Deferred revenues $ 0.7 $ 0.7  
v3.25.2
REVENUE RECOGNITION - Schedule of Deferred Gift Card Revenue (Details) - Gift Card - USD ($)
$ in Millions
 12 Months Ended
May 25, 2025
May 26, 2024
Change in Contract with Customer, Liability [Roll Forward]    
Beginning balance $ 620.6 $ 537.0
Acquired deferred gift card revenue 2.6 61.8
Activations 737.0 753.7
Redemptions and breakage (731.4) (731.9)
Ending balance $ 628.8 $ 620.6
v3.25.2
IMPAIRMENTS AND DISPOSAL OF ASSETS, NET - Schedule of Impairments and Disposal of Assets (Details) - USD ($)
$ in Millions
 12 Months Ended
May 25, 2025
May 26, 2024
May 28, 2023
Asset Impairment Charges [Abstract]      
Restaurant impairments $ 0.1 $ 0.3 $ 2.4
Disposal (gains) losses 48.1 13.1 (15.1)
Other 1.0 (1.0) 2.1
Impairments and disposal of assets, net $ 49.2 $ 12.4 $ (10.6)
v3.25.2
IMPAIRMENTS AND DISPOSAL OF ASSETS, NET - Narrative (Details) - restaurant
 12 Months Ended
May 25, 2025
May 26, 2024
May 28, 2023
Asset Impairment Charges [Abstract]      
Number of locations closed 22 9 4
Number of underperforming restaurants     1
v3.25.2
LAND, BUILDINGS AND EQUIPMENT, NET (Details) - USD ($)
$ in Millions
May 25, 2025
May 26, 2024
Property, Plant and Equipment, Net [Abstract]    
Land $ 158.8 $ 132.9
Buildings 4,328.9 4,034.5
Equipment 2,569.6 2,345.4
Assets under finance leases 1,490.3 1,252.3
Construction in progress 234.8 179.1
Total land, buildings and equipment 8,782.4 7,944.2
Less accumulated depreciation and amortization (3,870.3) (3,613.9)
Less amortization associated with assets under finance leases (196.1) (146.0)
Land, buildings and equipment, net $ 4,716.0 $ 4,184.3
v3.25.2
SEGMENT INFORMATION - Narrative (Details)
 12 Months Ended
May 25, 2025
segment
Segment Reporting [Abstract]  
Number of reportable segments 4
v3.25.2
SEGMENT INFORMATION - Schedule of Segment Reporting (Details) - USD ($)
$ in Millions
 12 Months Ended
May 25, 2025
May 26, 2024
May 28, 2023
Segment Reporting Information [Line Items]      
Sales $ 12,076.7 $ 11,390.0 $ 10,487.8
Restaurant labor 3,833.1 3,619.3 3,346.3
Marketing 169.9 144.5 118.3
Segment profit 2,472.7 2,290.0 1,991.0
Depreciation and amortization 516.1 459.9 387.8
Impairments and disposal of assets, net 49.2 12.4 (10.6)
Pre-opening costs 24.8 24.3 25.9
Segment assets 12,587.0 11,323.0  
Purchases of land, buildings and equipment 644.6 601.2 564.9
Food and beverage      
Segment Reporting Information [Line Items]      
Food and beverage costs and restaurant expenses 3,657.0 3,523.9 3,355.9
Restaurant expenses      
Segment Reporting Information [Line Items]      
Food and beverage costs and restaurant expenses 1,944.0 1,812.3 1,676.3
Operating Segments | Olive Garden      
Segment Reporting Information [Line Items]      
Sales 5,212.9 5,067.0 4,877.8
Restaurant labor 1,822.1 1,783.1 1,716.8
Marketing 126.7 111.2 96.1
Segment profit 1,163.9 1,117.4 1,033.7
Depreciation and amortization 186.0 167.7 146.5
Impairments and disposal of assets, net (1.5) 0.2 0.0
Pre-opening costs 6.5 7.2 7.9
Segment assets 2,880.5 2,862.4  
Purchases of land, buildings and equipment 252.0 260.7 252.5
Operating Segments | Olive Garden | Food and beverage      
Segment Reporting Information [Line Items]      
Food and beverage costs and restaurant expenses 1,253.8 1,242.7 1,243.1
Operating Segments | Olive Garden | Restaurant expenses      
Segment Reporting Information [Line Items]      
Food and beverage costs and restaurant expenses 846.4 812.6 788.1
Operating Segments | LongHorn Steakhouse      
Segment Reporting Information [Line Items]      
Sales 3,025.5 2,806.2 2,612.3
Restaurant labor 780.7 725.1 682.0
Marketing 9.3 6.4 5.1
Segment profit 582.7 516.8 437.0
Depreciation and amortization 84.3 75.8 67.7
Impairments and disposal of assets, net 0.0 0.7 (3.3)
Pre-opening costs 6.1 5.7 6.1
Segment assets 2,077.1 2,025.7  
Purchases of land, buildings and equipment 144.7 127.4 114.0
Operating Segments | LongHorn Steakhouse | Food and beverage      
Segment Reporting Information [Line Items]      
Food and beverage costs and restaurant expenses 1,244.6 1,180.6 1,126.8
Operating Segments | LongHorn Steakhouse | Restaurant expenses      
Segment Reporting Information [Line Items]      
Food and beverage costs and restaurant expenses 408.2 377.3 361.4
Operating Segments | Fine Dining      
Segment Reporting Information [Line Items]      
Sales 1,304.8 1,291.5 830.8
Restaurant labor 367.7 351.9 217.5
Marketing 9.3 9.7 3.6
Segment profit 242.5 245.0 159.8
Depreciation and amortization 70.0 65.9 35.6
Impairments and disposal of assets, net 8.0 0.0 0.0
Pre-opening costs 3.8 4.0 1.3
Segment assets 2,623.5 2,596.5  
Purchases of land, buildings and equipment 96.3 118.1 57.2
Operating Segments | Fine Dining | Food and beverage      
Segment Reporting Information [Line Items]      
Food and beverage costs and restaurant expenses 414.5 425.2 290.7
Operating Segments | Fine Dining | Restaurant expenses      
Segment Reporting Information [Line Items]      
Food and beverage costs and restaurant expenses 270.8 259.7 159.2
Operating Segments | Other Business      
Segment Reporting Information [Line Items]      
Sales 2,533.5 2,225.3 2,166.9
Restaurant labor 862.6 759.2 730.0
Marketing 24.6 17.2 13.5
Segment profit 397.4 340.3 305.6
Depreciation and amortization 119.0 102.5 96.8
Impairments and disposal of assets, net 42.0 0.0 0.0
Pre-opening costs 5.4 3.3 5.0
Segment assets 3,821.0 2,901.1  
Purchases of land, buildings and equipment 146.8 97.9 119.6
Operating Segments | Other Business | Food and beverage      
Segment Reporting Information [Line Items]      
Food and beverage costs and restaurant expenses 744.1 675.4 695.3
Operating Segments | Other Business | Restaurant expenses      
Segment Reporting Information [Line Items]      
Food and beverage costs and restaurant expenses 504.8 433.2 422.5
Corporate      
Segment Reporting Information [Line Items]      
Sales 0.0 0.0 0.0
Restaurant labor 0.0 0.0 0.0
Marketing 0.0 0.0 0.0
Segment profit 86.2 70.5 54.9
Depreciation and amortization 56.8 48.0 41.2
Impairments and disposal of assets, net 0.7 11.5 (7.3)
Pre-opening costs 3.0 4.1 5.6
Segment assets 1,184.9 937.3  
Purchases of land, buildings and equipment 4.8 (2.9) 21.6
Corporate | Food and beverage      
Segment Reporting Information [Line Items]      
Food and beverage costs and restaurant expenses 0.0 0.0 0.0
Corporate | Restaurant expenses      
Segment Reporting Information [Line Items]      
Food and beverage costs and restaurant expenses $ (86.2) $ (70.5) $ (54.9)
v3.25.2
SEGMENT INFORMATION - Schedule of Reconciliation of Segment Profit to Earnings (Details) - USD ($)
$ in Millions
 12 Months Ended
May 25, 2025
May 26, 2024
May 28, 2023
Segment Reporting [Abstract]      
Segment profit $ 2,472.7 $ 2,290.0 $ 1,991.0
Less general and administrative expenses (520.3) (479.2) (386.1)
Less depreciation and amortization (516.1) (459.9) (387.8)
Less impairments and disposal of assets, net (49.2) (12.4) 10.6
Less pre-opening costs (24.8) (24.3) (25.9)
Less interest, net (175.1) (138.7) (81.3)
Earnings before income taxes $ 1,187.2 $ 1,175.5 $ 1,120.5
v3.25.2
DEBT - Schedule of Components Of Long-Term Debt (Details) - USD ($)
$ in Millions
May 25, 2025
May 26, 2024
Debt Instruments [Line Items]    
Total long-term debt $ 2,189.1 $ 1,439.1
Fair value hedge $ (40.0) $ (51.8)
Hedged Liability, Statement of Financial Position [Extensible Enumeration] Total long-term debt less unamortized discount and issuance costs Total long-term debt less unamortized discount and issuance costs
Less unamortized discount and issuance costs $ (20.2) $ (16.9)
Total long-term debt less unamortized discount and issuance costs 2,128.9 1,370.4
3.850% senior notes due May 2027    
Debt Instruments [Line Items]    
Total long-term debt $ 500.0 500.0
Debt instrument, interest rate 3.85%  
4.350% senior notes due October 2027    
Debt Instruments [Line Items]    
Total long-term debt $ 400.0 0.0
Debt instrument, interest rate 4.35%  
4.550% senior notes due October 2029    
Debt Instruments [Line Items]    
Total long-term debt $ 350.0 0.0
Debt instrument, interest rate 4.55%  
6.300% senior notes due October 2033    
Debt Instruments [Line Items]    
Total long-term debt $ 500.0 500.0
Debt instrument, interest rate 6.30%  
6.000% senior notes due August 2035    
Debt Instruments [Line Items]    
Total long-term debt $ 96.3 96.3
Debt instrument, interest rate 6.00%  
6.800% senior notes due October 2037    
Debt Instruments [Line Items]    
Total long-term debt $ 42.8 42.8
Debt instrument, interest rate 6.80%  
4.550% senior notes due February 2048    
Debt Instruments [Line Items]    
Total long-term debt $ 300.0 $ 300.0
Debt instrument, interest rate 4.55%  
v3.25.2
DEBT - Schedule of Aggregate Maturities Of Long-Term Debt (Details)
$ in Millions
May 25, 2025
USD ($)
Debt Disclosure [Abstract]  
2026 $ 0.0
2027 500.0
2028 400.0
2029 0.0
2030 350.0
Thereafter $ 939.1
v3.25.2
DEBT - Narrative (Details)
 12 Months Ended
Sep. 16, 2024
USD ($)
May 25, 2025
USD ($)
Oct. 03, 2024
USD ($)
May 26, 2024
USD ($)
Oct. 23, 2023
USD ($)
Debt Instruments [Line Items]          
Total long-term debt   $ 2,189,100,000   $ 1,439,100,000  
Senior Notes | 2027 Notes          
Debt Instruments [Line Items]          
Aggregate principal amount of debt issued     $ 400,000,000.0    
Debt instrument, interest rate     4.35%    
Senior Notes | 2029 Notes          
Debt Instruments [Line Items]          
Aggregate principal amount of debt issued     $ 350,000,000    
Debt instrument, interest rate     4.55%    
Senior Notes | 6.800% senior notes due October 2037          
Debt Instruments [Line Items]          
Debt instrument, interest rate   6.80%      
Total long-term debt   $ 42,800,000      
Adjustments to interest rates on debt   0.00%      
Senior Notes | 6.800% senior notes due October 2037 | Maximum          
Debt Instruments [Line Items]          
Adjustments to interest rates on debt   2.00%      
Revolving Credit Agreement | Line of Credit          
Debt Instruments [Line Items]          
Maximum borrowing available under the credit facility         $ 1,250,000,000
Debt covenant, maximum total debt to total capitalization ratio         0.75
Outstanding balance under debt agreement   $ 0      
Maximum borrowing available under the credit facility   $ 1,250,000,000      
Maximum consolidated leverage ratio 3.50        
Temporarily increased maximum consolidated leverage ratio 4.00        
Revolving Credit Agreement | Line of Credit | Term SOFR          
Debt Instruments [Line Items]          
Adjustment to basis spread on variable rate   0.10%      
Debt instrument, basis spread on variable rate   1.00%      
Revolving Credit Agreement | Line of Credit | Federal Funds Rate          
Debt Instruments [Line Items]          
Debt instrument, basis spread on variable rate   0.50%      
Revolving Credit Agreement | Line of Credit | Base Rate          
Debt Instruments [Line Items]          
Debt instrument, basis spread on variable rate   0.00%      
Letter of Credit | Line of Credit          
Debt Instruments [Line Items]          
Outstanding balance under debt agreement   $ 200,000      
Unsecured Debt | Line of Credit          
Debt Instruments [Line Items]          
Maximum borrowing available under the credit facility $ 600,000,000        
Debt instrument term 2 years        
v3.25.2
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Narrative (Details)
$ in Millions
 12 Months Ended
May 25, 2025
USD ($)
Derivative [Line Items]  
Cash flow hedge gain to be reclassified within twelve months $ 3.1
Designated as Hedging Instruments | Fair Value Hedging | Interest rate contracts  
Derivative [Line Items]  
Loss on derivative contracts exited $ 1.9
v3.25.2
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Schedule of Notional and Fair Value Of Derivative Contracts Designated And Not Designated As Hedging Instruments (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 12 Months Ended
May 25, 2025
May 26, 2024
Derivatives, Fair Value [Line Items]    
Number of Shares Outstanding (in shares) 117.0 118.9
Derivative Assets $ 0.0 $ 0.1
Derivative Liabilities 44.1 55.7
Equity forwards    
Derivatives, Fair Value [Line Items]    
Derivative Assets 0.0 0.0
Derivative Liabilities $ 3.0 3.2
Equity forwards | Derivative contracts designated as hedging instruments:    
Derivatives, Fair Value [Line Items]    
Number of Shares Outstanding (in shares) 0.2  
Weighted-Average Per Share Forward Rates (in dollars per share) $ 145.57  
Notional Values $ 23.7  
Derivative Assets 0.0 0.0
Derivative Liabilities $ 0.8 0.8
Equity forwards | Derivative contracts not designated as hedging instruments:    
Derivatives, Fair Value [Line Items]    
Number of Shares Outstanding (in shares) 0.4  
Weighted-Average Per Share Forward Rates (in dollars per share) $ 139.89  
Notional Values $ 61.7  
Derivative Assets 0.0 0.0
Derivative Liabilities 2.2 2.4
Commodity contracts    
Derivatives, Fair Value [Line Items]    
Derivative Assets 0.0 0.1
Derivative Liabilities 0.9 0.7
Commodity contracts | Derivative contracts designated as hedging instruments:    
Derivatives, Fair Value [Line Items]    
Notional Values 13.8  
Derivative Assets 0.0 0.1
Derivative Liabilities 0.9 0.7
Commodity contracts | Derivative contracts not designated as hedging instruments:    
Derivatives, Fair Value [Line Items]    
Notional Values 0.0  
Derivative Assets 0.0 0.0
Derivative Liabilities 0.0 0.0
Interest rate related    
Derivatives, Fair Value [Line Items]    
Derivative Assets 0.0 0.0
Derivative Liabilities 40.0 51.8
Interest rate related | Derivative contracts designated as hedging instruments:    
Derivatives, Fair Value [Line Items]    
Notional Values 300.0  
Derivative Assets 0.0 0.0
Derivative Liabilities 40.0 51.8
Interest rate related | Derivative contracts not designated as hedging instruments:    
Derivatives, Fair Value [Line Items]    
Notional Values  
Derivative Assets 0.0 0.0
Derivative Liabilities 0.0 0.0
Foreign Exchange Forwards    
Derivatives, Fair Value [Line Items]    
Derivative Assets 0.0 0.0
Derivative Liabilities 0.2 0.0
Foreign Exchange Forwards | Derivative contracts designated as hedging instruments:    
Derivatives, Fair Value [Line Items]    
Notional Values 18.0  
Derivative Assets 0.0 0.0
Derivative Liabilities 0.2 0.0
Foreign Exchange Forwards | Derivative contracts not designated as hedging instruments:    
Derivatives, Fair Value [Line Items]    
Notional Values  
Derivative Assets 0.0 0.0
Derivative Liabilities $ 0.0 $ 0.0
v3.25.2
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Schedule of Effects Of Derivative Instruments In Cash Flow Hedging Relationships (Details) - USD ($)
$ in Millions
 12 Months Ended
May 25, 2025
May 26, 2024
May 28, 2023
Derivative Instruments, Gain (Loss) [Line Items]      
Amount of Gain (Loss) Recognized in AOCI $ 6.9 $ 26.6 $ (1.2)
Amount of Gain (Loss) Reclassified from AOCI to Earnings 1.9 (3.4) (4.0)
Equity      
Derivative Instruments, Gain (Loss) [Line Items]      
Amount of Gain (Loss) Recognized in AOCI 9.0 (6.4) 8.0
Amount of Gain (Loss) Reclassified from AOCI to Earnings 0.1 1.3 (0.8)
Commodity      
Derivative Instruments, Gain (Loss) [Line Items]      
Amount of Gain (Loss) Recognized in AOCI (1.9) (1.9) (9.2)
Amount of Gain (Loss) Reclassified from AOCI to Earnings (1.6) (6.9) (3.1)
Interest rate related      
Derivative Instruments, Gain (Loss) [Line Items]      
Amount of Gain (Loss) Recognized in AOCI 0.0 34.9 0.0
Amount of Gain (Loss) Reclassified from AOCI to Earnings 3.4 2.2 (0.1)
Foreign exchange contracts      
Derivative Instruments, Gain (Loss) [Line Items]      
Amount of Gain (Loss) Recognized in AOCI (0.2) 0.0 0.0
Amount of Gain (Loss) Reclassified from AOCI to Earnings $ 0.0 $ 0.0 $ 0.0
v3.25.2
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Schedule of Effects of Derivative Instruments in Fair Value Hedging Relationships (Details) - Interest rate related - USD ($)
$ in Millions
 12 Months Ended
May 25, 2025
May 26, 2024
May 28, 2023
Derivative Instruments, Gain (Loss) [Line Items]      
Amount of Gain (Loss) Recognized in Earnings on Derivatives $ 11.8 $ (6.4) $ (17.4)
Amount of Gain (Loss) Recognized in Earnings on Related Hedged Item $ (11.8) $ 6.4 $ 17.4
v3.25.2
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Schedule of Effects Of Derivatives Not Designated As Hedging Instruments (Details) - USD ($)
$ in Millions
 12 Months Ended
May 25, 2025
May 26, 2024
May 28, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]      
Amount of Gain (Loss) Recognized in Earnings $ 25.6 $ (3.1) $ 18.3
v3.25.2
FAIR VALUE MEASUREMENTS - Schedule of Fair Values Of Financial Instruments Measured At Fair Value On Recurring Basis (Details) - Fair Value, Measurements, Recurring - USD ($)
$ in Millions
May 25, 2025
May 26, 2024
Fair Value Assets and Liabilities Measured On Recurring Basis [Line Items]    
Total $ (44.1) $ (55.6)
Commodity    
Fair Value Assets and Liabilities Measured On Recurring Basis [Line Items]    
Derivatives (0.9) (0.6)
Equity    
Fair Value Assets and Liabilities Measured On Recurring Basis [Line Items]    
Derivatives (3.0) (3.2)
Interest rate contracts    
Fair Value Assets and Liabilities Measured On Recurring Basis [Line Items]    
Derivatives (40.0) (51.8)
Foreign exchange forwards    
Fair Value Assets and Liabilities Measured On Recurring Basis [Line Items]    
Derivatives (0.2)  
Quoted Prices in Active Market for Identical Assets (Liabilities) (Level 1)    
Fair Value Assets and Liabilities Measured On Recurring Basis [Line Items]    
Total 0.0 0.0
Quoted Prices in Active Market for Identical Assets (Liabilities) (Level 1) | Commodity    
Fair Value Assets and Liabilities Measured On Recurring Basis [Line Items]    
Derivatives 0.0 0.0
Quoted Prices in Active Market for Identical Assets (Liabilities) (Level 1) | Equity    
Fair Value Assets and Liabilities Measured On Recurring Basis [Line Items]    
Derivatives 0.0 0.0
Quoted Prices in Active Market for Identical Assets (Liabilities) (Level 1) | Interest rate contracts    
Fair Value Assets and Liabilities Measured On Recurring Basis [Line Items]    
Derivatives 0.0 0.0
Quoted Prices in Active Market for Identical Assets (Liabilities) (Level 1) | Foreign exchange forwards    
Fair Value Assets and Liabilities Measured On Recurring Basis [Line Items]    
Derivatives  
Significant Other Observable Inputs (Level 2)    
Fair Value Assets and Liabilities Measured On Recurring Basis [Line Items]    
Total (44.1) (55.6)
Significant Other Observable Inputs (Level 2) | Commodity    
Fair Value Assets and Liabilities Measured On Recurring Basis [Line Items]    
Derivatives (0.9) (0.6)
Significant Other Observable Inputs (Level 2) | Equity    
Fair Value Assets and Liabilities Measured On Recurring Basis [Line Items]    
Derivatives (3.0) (3.2)
Significant Other Observable Inputs (Level 2) | Interest rate contracts    
Fair Value Assets and Liabilities Measured On Recurring Basis [Line Items]    
Derivatives (40.0) (51.8)
Significant Other Observable Inputs (Level 2) | Foreign exchange forwards    
Fair Value Assets and Liabilities Measured On Recurring Basis [Line Items]    
Derivatives (0.2)  
Significant Unobservable Inputs (Level 3)    
Fair Value Assets and Liabilities Measured On Recurring Basis [Line Items]    
Total 0.0 0.0
Significant Unobservable Inputs (Level 3) | Commodity    
Fair Value Assets and Liabilities Measured On Recurring Basis [Line Items]    
Derivatives 0.0 0.0
Significant Unobservable Inputs (Level 3) | Equity    
Fair Value Assets and Liabilities Measured On Recurring Basis [Line Items]    
Derivatives 0.0 0.0
Significant Unobservable Inputs (Level 3) | Interest rate contracts    
Fair Value Assets and Liabilities Measured On Recurring Basis [Line Items]    
Derivatives 0.0 $ 0.0
Significant Unobservable Inputs (Level 3) | Foreign exchange forwards    
Fair Value Assets and Liabilities Measured On Recurring Basis [Line Items]    
Derivatives  
v3.25.2
FAIR VALUE MEASUREMENTS - Narrative (Details) - USD ($)
$ in Millions
May 25, 2025
May 26, 2024
Significant Unobservable Inputs (Level 3)    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Fair value of non-financial assets $ 8.0  
Fair value of long-lived assets   $ 1.5
Carring Value    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Long-term debt 2,130.0 1,370.0
Fair Value    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Long-term debt $ 2,130.0 $ 1,370.0
v3.25.2
STOCKHOLDERS' EQUITY - Narrative (Details) - USD ($)
shares in Millions, $ in Billions
Jun. 18, 2025
May 25, 2025
Share Repurchase Program [Line Items]    
Stock repurchase program, cumulative shares repurchased (in shares)   213.3
Stock repurchase program, cumulative shares retired (in shares)   201.9
Subsequent Event    
Share Repurchase Program [Line Items]    
Share repurchase program, authorized amount $ 1.0  
v3.25.2
STOCKHOLDERS' EQUITY - Schedule of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($)
$ in Millions
 12 Months Ended
May 25, 2025
May 26, 2024
AOCI Attributable to Parent, Net of Tax [Roll Forward]    
Beginning balance $ 2,242.5 $ 2,201.5
Gain (loss) 7.2 19.6
Reclassification realized in net earnings (1.0) 2.8
Ending balance 2,311.3 2,242.5
Accumulated Other Comprehensive Income (Loss)    
AOCI Attributable to Parent, Net of Tax [Roll Forward]    
Beginning balance 25.6 3.2
Ending balance 31.8 25.6
Foreign Currency Translation Adjustment    
AOCI Attributable to Parent, Net of Tax [Roll Forward]    
Beginning balance 4.6 4.5
Gain (loss) 0.0 0.1
Reclassification realized in net earnings 0.0 0.0
Ending balance 4.6 4.6
Unrealized Gains (Losses) on Derivatives    
AOCI Attributable to Parent, Net of Tax [Roll Forward]    
Beginning balance 24.5 3.9
Gain (loss) 7.4 18.4
Reclassification realized in net earnings (1.5) 2.2
Ending balance 30.4 24.5
Benefit Plan Funding Position    
AOCI Attributable to Parent, Net of Tax [Roll Forward]    
Beginning balance (3.5) (5.2)
Gain (loss) (0.2) 1.1
Reclassification realized in net earnings 0.5 0.6
Ending balance $ (3.2) $ (3.5)
v3.25.2
STOCKHOLDERS' EQUITY - Schedule of Reclassification Adjustments out of AOCI (Details) - USD ($)
$ in Millions
 12 Months Ended
May 25, 2025
May 26, 2024
May 28, 2023
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]      
General and administrative expenses $ (520.3) $ (479.2) $ (386.1)
Interest, net (175.1) (138.7) (81.3)
Total before tax 1,187.2 1,175.5 1,120.5
Tax benefit (136.2) (145.0) (137.0)
Net earnings 1,049.6 1,027.6 $ 981.9
Amount Reclassified from AOCI into Net Earnings | Derivatives      
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]      
Total before tax 1.9 (3.4)  
Tax benefit (0.4) 1.2  
Net earnings 1.5 (2.2)  
Amount Reclassified from AOCI into Net Earnings | Derivatives | Commodity contracts      
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]      
Food and beverage costs and restaurant expenses (1.6) (6.9)  
Amount Reclassified from AOCI into Net Earnings | Derivatives | Equity contracts      
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]      
General and administrative expenses 0.1 1.3  
Amount Reclassified from AOCI into Net Earnings | Derivatives | Interest rate contracts      
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]      
Interest, net 3.4 2.2  
Amount Reclassified from AOCI into Net Earnings | Benefit plan funding position      
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]      
Total before tax (0.7) (0.8)  
Tax benefit 0.2 0.2  
Net earnings (0.5) (0.6)  
Amount Reclassified from AOCI into Net Earnings | Benefit plan funding position | Pension/postretirement plans- actuarial losses      
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]      
Other (income) expense, net, restaurant labor expenses and general and administrative expenses 0.0 (0.1)  
Amount Reclassified from AOCI into Net Earnings | Benefit plan funding position | Recognized net actuarial gain (loss) - other plans      
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]      
Restaurant labor and general and administrative expenses $ (0.7) $ (0.7)  
v3.25.2
LEASES - Schedule of Components of Lease Expenses (Details) - USD ($)
$ in Millions
 12 Months Ended
May 25, 2025
May 26, 2024
May 28, 2023
Operating Leases      
Operating lease expense $ 413.7 $ 404.6 $ 377.9
Finance lease expense      
Amortization of leased assets 57.2 48.1 41.2
Interest on lease liabilities 67.7 54.2 44.3
Variable lease expense 35.6 34.6 22.6
Total lease expense $ 574.2 $ 541.5 $ 486.0
v3.25.2
LEASES - Schedule of Components of Lease Assets and Liabilities (Details) - USD ($)
$ in Millions
May 25, 2025
May 26, 2024
Leases [Abstract]    
Operating lease right-of-use assets $ 3,555.9 $ 3,429.3
Finance lease right-of-use assets $ 1,294.2 $ 1,106.3
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] Property, Plant, and Equipment and Finance Lease Right-of-Use Asset, after Accumulated Depreciation and Amortization Property, Plant, and Equipment and Finance Lease Right-of-Use Asset, after Accumulated Depreciation and Amortization
Total lease assets, net $ 4,850.1 $ 4,535.6
Operating lease liabilities - current $ 220.1 $ 198.8
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration] Other Liabilities, Current Other Liabilities, Current
Finance lease liabilities - current $ 23.8 $ 15.3
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration] Other Liabilities, Current Other Liabilities, Current
Operating lease liabilities - non-current $ 3,816.9 $ 3,704.7
Finance lease liabilities - non-current $ 1,583.8 $ 1,357.1
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration] Other liabilities Other liabilities
Total lease liabilities $ 5,644.6 $ 5,275.9
v3.25.2
LEASES - Schedule of Supplemental Cash Flow Information (Details) - USD ($)
$ in Millions
 12 Months Ended
May 25, 2025
May 26, 2024
May 28, 2023
Oct. 11, 2024
Cash paid for amounts included in the measurement of lease liabilities        
Operating cash flows from operating leases $ 410.4 $ 397.2 $ 367.6  
Operating cash flows from finance leases 67.7 54.2 44.3  
Financing cash flows from finance leases 22.8 22.0 19.8  
Right-of-use assets obtained in exchange for new operating lease liabilities 373.0 341.2 131.5  
Right-of-use assets obtained in exchange for new finance lease liabilities 152.8 97.3 75.1  
Net change in right-of-use assets mainly due to lease modifications resulting in reclassification of leases from operating to finance $ 81.5 $ 49.8 $ 86.3  
Weighted-Average Remaining Lease Term (Years)        
Operating leases 14 years 9 months 18 days 14 years 9 months 18 days    
Finance leases 22 years 3 months 18 days 22 years 2 months 12 days    
Weighted-Average Discount Rate        
Operating leases 4.60% 4.50%    
Finance leases 4.70% 4.40%    
Chuy’s        
Cash paid for amounts included in the measurement of lease liabilities        
Right-of-use assets obtained $ 331.9     $ 337.7
Ruth’s Chris        
Cash paid for amounts included in the measurement of lease liabilities        
Right-of-use assets obtained   $ 303.4    
v3.25.2
LEASES - Schedule of Maturities of Lease Liabilities (Details)
$ in Millions
May 25, 2025
USD ($)
lease
Operating Leases  
2026 $ 438.0
2027 443.5
2028 435.8
2029 420.0
2030 403.7
Thereafter 3,648.7
Total future lease commitments 5,789.7
Less imputed interest (1,752.7)
Present value of lease liabilities 4,037.0
Finance Leases  
2026 102.9
2027 107.6
2028 109.4
2029 111.2
2030 113.2
Thereafter 2,200.6
Total future lease commitments 2,744.9
Less imputed interest (1,137.3)
Present value of lease liabilities 1,607.6
Noncancelable lease commitments, operating leases 2,250.1
Noncancelable lease commitments, finance leases $ 815.9
Lease payments, not yet commenced, real estate leases | lease 52
Operating Lease, Lease Not yet Commenced  
Finance Leases  
Lease payments, not yet commenced $ 194.4
v3.25.2
ADDITIONAL FINANCIAL INFORMATION - Schedule of Receivables, net and Other Current Liabilities (Details) - USD ($)
$ in Millions
May 25, 2025
May 26, 2024
Receivables, net    
Allowance for doubtful accounts $ (0.6) $ (0.4)
Total 93.8 79.1
Other Current Liabilities    
Non-qualified deferred compensation plan 301.9 274.8
Sales and other taxes 124.3 104.2
Insurance-related 41.6 44.8
Employee benefits 59.4 55.1
Accrued interest 21.4 20.2
Lease liabilities - current 243.9 214.1
Derivatives 44.1 55.7
Miscellaneous 76.7 78.3
Total 913.3 847.2
Gift card sales    
Receivables, net    
Accounts receivable, gross 42.2 41.8
Miscellaneous    
Receivables, net    
Accounts receivable, gross $ 52.2 $ 37.7
v3.25.2
ADDITIONAL FINANCIAL INFORMATION - Schedule of Components of Interest (Details) - USD ($)
$ in Millions
 12 Months Ended
May 25, 2025
May 26, 2024
May 28, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]      
Interest expense $ 115.9 $ 93.5 $ 50.2
Imputed interest on finance leases 67.7 54.2 44.3
Capitalized interest (5.1) (4.5) (5.4)
Interest income (3.4) (4.5) (7.8)
Total $ 175.1 $ 138.7 $ 81.3
v3.25.2
ADDITIONAL FINANCIAL INFORMATION - Schedule of Supplemental Cash Flow Information (Details) - USD ($)
$ in Millions
 12 Months Ended
May 25, 2025
May 26, 2024
May 28, 2023
Cash paid during the fiscal year for:      
Interest, net of amounts capitalized $ 171.9 $ 135.1 $ 82.4
Income taxes, net of refunds 148.5 136.3 47.4
Non-cash investing and financing activities:      
Increase in land, buildings and equipment through accrued purchases $ 47.0 $ 40.0 $ 66.7
v3.25.2
INCOME TAXES - Schedule of Allocation Of Total Income Tax Expense (Details) - USD ($)
$ in Millions
 12 Months Ended
May 25, 2025
May 26, 2024
May 28, 2023
Income Tax Disclosure [Abstract]      
Earnings from continuing operations $ 136.2 $ 145.0 $ 137.0
Loss from discontinued operations (0.8) (1.7) (0.8)
Total consolidated income tax expense (benefit) $ 135.4 $ 143.3 $ 136.2
v3.25.2
INCOME TAXES - Schedule of Components Of Earnings Before Income Tax And Provision For Income Taxes (Details) - USD ($)
$ in Millions
 12 Months Ended
May 25, 2025
May 26, 2024
May 28, 2023
Earnings from continuing operations before income taxes:      
U.S. $ 1,180.6 $ 1,169.2 $ 1,117.3
Foreign 6.6 6.3 3.2
Earnings before income taxes 1,187.2 1,175.5 1,120.5
Current:      
Federal 80.9 99.2 165.9
State and local 54.4 43.5 25.6
Foreign 0.0 3.0 1.6
Total current 135.3 145.7 193.1
Deferred (principally U.S.):      
Federal 0.2 (0.7) (69.2)
State and local 0.7 0.0 13.1
Total deferred 0.9 (0.7) (56.1)
Income tax expense $ 136.2 $ 145.0 $ 137.0
v3.25.2
INCOME TAXES - Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
May 25, 2025
May 26, 2024
May 28, 2023
Income Tax Disclosure [Line Items]      
Effective income tax rate 11.50% 12.30% 12.20%
Income tax expense $ 136.2 $ 145.0 $ 137.0
Earnings before income taxes 1,187.2 1,175.5 $ 1,120.5
Prepaid income taxes 135.6 121.7  
Gross unrecognized tax benefits 21.4 $ 22.7  
Tax position, change is reasonably possible in the next twelve month 1.3    
Unrecognized tax benefits, accrued interest 2.3    
Interest receivable on accrued refunds 20.6    
Expiring Tax Credits      
Income Tax Disclosure [Line Items]      
Federal tax credit carryforwards 25.2    
State loss carryforwards 58.9    
State      
Income Tax Disclosure [Line Items]      
Prepaid income taxes 5.3    
Accrued income taxes 1.3    
Federal      
Income Tax Disclosure [Line Items]      
Prepaid income taxes $ 130.3    
v3.25.2
INCOME TAXES - Schedule of Effective Income Tax Rate Reconciliation (Details)
 12 Months Ended
May 25, 2025
May 26, 2024
May 28, 2023
Income Tax Disclosure [Abstract]      
U.S. statutory rate 21.00% 21.00% 21.00%
State and local income taxes, net of federal tax benefits 3.80% 3.30% 3.10%
Benefit of federal income tax credits (11.00%) (10.50%) (10.40%)
Stock-based compensation tax benefit (0.70%) (1.10%) (0.90%)
Other, net (1.60%) (0.40%) (0.60%)
Effective income tax rate 11.50% 12.30% 12.20%
v3.25.2
INCOME TAXES - Schedule of Reconciliation of Unrecognized Tax Benefits (Details)
$ in Millions
 12 Months Ended
May 25, 2025
USD ($)
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]  
Beginning balance $ 22.7
Additions related to current-year tax positions 5.6
Additions related to prior-year tax positions 0.7
Net reductions due to settlements with taxing authorities (4.4)
Reductions to tax positions due to statute expiration (3.2)
Ending balance $ 21.4
v3.25.2
INCOME TAXES - Schedule of Interest Expense On Income Tax Expense (Benefits) (Details) - USD ($)
$ in Millions
 12 Months Ended
May 25, 2025
May 26, 2024
May 28, 2023
Income Tax Disclosure [Abstract]      
Interest recorded on unrecognized tax benefits $ 1.4 $ 1.7 $ 2.2
Interest recorded on income tax receivables (6.3) (6.9) (6.8)
Total (Benefit) Expense $ (4.9) $ (5.2) $ (4.6)
v3.25.2
INCOME TAXES - Schedule of Tax Effects on Deferred Tax Assets And Liabilities (Details) - USD ($)
$ in Millions
May 25, 2025
May 26, 2024
Income Tax Disclosure [Abstract]    
Accrued liabilities $ 149.8 $ 136.4
Compensation and employee benefits 136.2 127.8
Lease liabilities 1,430.1 1,332.4
Net operating loss, credit and charitable contribution carryforwards 84.1 71.8
Other 0.0 1.0
Gross deferred tax assets 1,800.2 1,669.4
Valuation allowance (19.8) (26.8)
Deferred tax assets, net of valuation allowance 1,780.4 1,642.6
Trademarks and other acquisition related intangibles (330.1) (274.6)
Buildings and equipment (409.2) (373.5)
Capitalized software and other assets (33.3) (30.4)
Lease assets (1,266.1) (1,183.8)
Other (20.5) (12.3)
Gross deferred tax liabilities (2,059.2) (1,874.6)
Net deferred tax liabilities $ (278.8) $ (232.0)
v3.25.2
RETIREMENT PLANS (Details) - USD ($)
 12 Months Ended
May 25, 2025
May 26, 2024
May 28, 2023
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, required minimum age 18 years    
Defined benefit plan, minimum period to perform service requirement 1 year    
Percentage of employer contribution 6.00%    
Defined contribution plan, annual contributions per employee, percent 1.50%    
Defined contribution plan, expense recognized $ 35,500,000 $ 45,600,000 $ 37,700,000
Amounts payable to highly compensated employees under non-qualified deferred compensation plan 301,900,000 274,800,000  
Minimum      
Defined Benefit Plan Disclosure [Line Items]      
Employer contribution, per dollar 0.25    
Maximum      
Defined Benefit Plan Disclosure [Line Items]      
Employer contribution, per dollar 1.20    
Postretirement Benefits Plan      
Defined Benefit Plan Disclosure [Line Items]      
Benefit obligation 10,800,000 12,300,000  
Annual fundings 1,200,000    
Pension Plan      
Defined Benefit Plan Disclosure [Line Items]      
Benefit obligation 3,000,000 $ 3,000,000  
Annual fundings $ 400,000    
v3.25.2
STOCK-BASED COMPENSATION - General (Narrative) (Details) - shares
May 25, 2025
Sep. 30, 2015
2015 Plan    
Schedule of Share-based Compensation Arrangements by Share-based Payment Award [Line Items]    
Shares available for issuance (in shares)   10,200,000
Prior Plans    
Schedule of Share-based Compensation Arrangements by Share-based Payment Award [Line Items]    
Shares available for issuance (in shares) 10,000.0  
v3.25.2
STOCK-BASED COMPENSATION - Schedule of Recognized Stock-Based Compensation Expense (Details) - USD ($)
$ in Millions
 12 Months Ended
May 25, 2025
May 26, 2024
May 28, 2023
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]      
Stock-based compensation expense $ 79.1 $ 68.5 $ 67.5
Income tax benefits 11.8 12.7 6.5
Stock options      
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]      
Stock-based compensation expense 7.5 6.8 6.3
Restricted stock units      
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]      
Stock-based compensation expense 9.8 8.6 7.4
Darden stock units      
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]      
Stock-based compensation expense 37.3 31.9 34.8
Equity-settled performance-based restricted stock units      
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]      
Stock-based compensation expense 19.4 16.1 14.3
Employee stock purchase plan      
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]      
Stock-based compensation expense 3.2 3.0 2.8
Director compensation program/other      
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]      
Stock-based compensation expense $ 1.9 $ 2.1 $ 1.9
v3.25.2
STOCK-BASED COMPENSATION - Schedule of Black-Scholes Model (Details) - $ / shares
 12 Months Ended
May 25, 2025
May 26, 2024
May 28, 2023
Share-Based Payment Arrangement [Abstract]      
Weighted-average fair value (in dollars per share) $ 44.79 $ 55.56 $ 36.20
Dividend yield 3.60% 3.40% 3.80%
Expected volatility of stock 40.80% 42.20% 42.00%
Risk-free interest rate 4.10% 4.00% 2.80%
Expected option life (in years) 6 years 3 months 18 days 5 years 10 months 24 days 5 years 10 months 24 days
Weighted-average exercise price per share (in dollars per share) $ 139.43 $ 169.02 $ 121.47
v3.25.2
STOCK-BASED COMPENSATION - Schedule of Stock Option Activity (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Millions
 12 Months Ended
May 25, 2025
May 26, 2024
May 28, 2023
Options      
Outstanding beginning of period (in shares) 1,340    
Options granted (in shares) 170    
Options exercised (in shares) (480)    
Options canceled (in shares) 0    
Outstanding end of period (in shares) 1,030 1,340  
Exercisable (in shares) 510    
Weighted-Average Exercise Price Per Share      
Outstanding beginning balance (in dollars per share) $ 111.08    
Options granted (in dollars per share) 139.43 $ 169.02 $ 121.47
Options exercised (in dollars per share) 90.10    
Options canceled (in dollars per share) 0    
Outstanding ending balance (in dollars per share) 125.30 $ 111.08  
Exercisable weighted average exercise price per share (in dollars per share) $ 108.75    
Weighted average remaining contractual life outstanding 6 years 1 month 28 days 5 years 8 months 4 days  
Exercisable weighted average remaining contractual life 4 years 4 months 28 days    
Aggregate intrinsic value outstanding, beginning balance $ 51.6    
Aggregate intrinsic value outstanding, ending balance 80.9 $ 51.6  
Exercisable aggregate intrinsic value $ 49.0    
v3.25.2
STOCK-BASED COMPENSATION - Stock Option Activity (Narrative) (Details) - USD ($)
$ in Millions
 12 Months Ended
May 25, 2025
May 26, 2024
May 28, 2023
Schedule of Share-based Compensation Arrangements by Share-based Payment Award [Line Items]      
Total intrinsic value of options exercised $ 43.5 $ 33.6 $ 29.7
Cash received from option exercises $ 42.8 $ 31.8 $ 24.2
Vesting period 4 years    
Maximum terms of awards 10 years    
Stock options      
Schedule of Share-based Compensation Arrangements by Share-based Payment Award [Line Items]      
Unrecognized compensation cost related to unvested stock options granted $ 4.5    
Unrecognized compensation cost, period of recognition 2 years 3 months 18 days    
Fair market value on grant date $ 7.5    
v3.25.2
STOCK-BASED COMPENSATION - Restricted Stock And RSU Activity (Narrative) (Details) - USD ($)
$ in Millions
 12 Months Ended
May 25, 2025
May 26, 2024
May 28, 2023
Schedule of Share-based Compensation Arrangements by Share-based Payment Award [Line Items]      
Vesting period 4 years    
Restricted stock units      
Schedule of Share-based Compensation Arrangements by Share-based Payment Award [Line Items]      
Unrecognized compensation cost related to unvested stock options granted $ 7.3    
Unrecognized compensation cost, period of recognition 1 year 9 months 18 days    
Fair market value on grant date $ 9.9 $ 7.9 $ 6.6
Minimum | Restricted stock units      
Schedule of Share-based Compensation Arrangements by Share-based Payment Award [Line Items]      
Vesting period 1 year    
Maximum | Restricted stock units      
Schedule of Share-based Compensation Arrangements by Share-based Payment Award [Line Items]      
Vesting period 3 years    
v3.25.2
STOCK-BASED COMPENSATION - Schedule of Restricted Stock And RSU Activity (Details) - Restricted stock units
shares in Thousands
 12 Months Ended
May 25, 2025
$ / shares
shares
Shares  
Outstanding beginning of period (in shares) | shares 260
Shares granted (in shares) | shares 80
Shares vested (in shares) | shares (70)
Shares canceled (in shares) | shares (10)
Outstanding end of period (in shares) | shares 260
Weighted-Average Grant Date Fair Value Per Share  
Outstanding beginning of period (in dollars per share) | $ / shares $ 132.38
Shares granted (in dollars per share) | $ / shares 148.94
Shares vested (in dollars per share) | $ / shares 136.62
Shares canceled (in dollars per share) | $ / shares 158.78
Outstanding end of period (in dollars per share) | $ / shares $ 135.67
v3.25.2
STOCK-BASED COMPENSATION - Darden Stock Unit Activity (Narrative) (Details) - USD ($)
$ in Millions
 12 Months Ended
May 25, 2025
May 26, 2024
Schedule of Share-based Compensation Arrangements by Share-based Payment Award [Line Items]    
Vesting period 4 years  
Darden stock units    
Schedule of Share-based Compensation Arrangements by Share-based Payment Award [Line Items]    
Total stock unit liability $ 83.5 $ 75.9
Unrecognized compensation cost related to unvested stock options granted $ 29.9  
Unrecognized compensation cost, period of recognition 2 years 1 month 6 days  
Fair market value on grant date $ 42.8  
Darden stock units | Minimum    
Schedule of Share-based Compensation Arrangements by Share-based Payment Award [Line Items]    
Vesting period 3 years  
Darden stock units | Maximum    
Schedule of Share-based Compensation Arrangements by Share-based Payment Award [Line Items]    
Vesting period 5 years  
Darden stock units | Other Current Liabilities    
Schedule of Share-based Compensation Arrangements by Share-based Payment Award [Line Items]    
Current stock unit liability $ 40.0 37.4
Darden stock units | Other Liabilities    
Schedule of Share-based Compensation Arrangements by Share-based Payment Award [Line Items]    
Noncurrent stock unit liability $ 43.5 $ 38.5
v3.25.2
STOCK-BASED COMPENSATION - Schedule of Darden Stock Unit Activity (Details) - Darden stock units
shares in Thousands
 12 Months Ended
May 25, 2025
$ / shares
shares
Units  
Outstanding beginning of period (in shares) | shares 760
Units granted (in shares) | shares 200
Units vested (in shares) | shares (290)
Units canceled (in shares) | shares (30)
Outstanding end of period (in shares) | shares 640
Weighted-Average Grant Date Fair Value Per Unit  
Outstanding beginning of period (in dollars per share) | $ / shares $ 147.60
Units granted (in dollars per share) | $ / shares 145.03
Units vested (in dollars per share) | $ / shares 149.87
Units canceled (in dollars per share) | $ / shares 139.35
Outstanding end of period (in dollars per share) | $ / shares $ 204.02
v3.25.2
STOCK-BASED COMPENSATION - Performance Stock Unit Activity and Employee Stock Purchase Plan (Narrative) (Details) - USD ($)
 12 Months Ended
May 25, 2025
May 26, 2024
May 28, 2023
Schedule of Share-based Compensation Arrangements by Share-based Payment Award [Line Items]      
Vesting period 4 years    
Common Stock And Surplus      
Schedule of Share-based Compensation Arrangements by Share-based Payment Award [Line Items]      
Issuance of stock under employee stock purchase plan (in shares) 100,000 100,000 100,000
Equity-settled performance-based restricted stock units      
Schedule of Share-based Compensation Arrangements by Share-based Payment Award [Line Items]      
Unrecognized compensation cost related to unvested stock options granted $ 9,800,000    
Unrecognized compensation cost, period of recognition 2 years 2 months 12 days    
Fair market value on grant date $ 18,400,000    
Equity-settled performance-based restricted stock units | Minimum      
Schedule of Share-based Compensation Arrangements by Share-based Payment Award [Line Items]      
Vesting period 3 years    
Equity-settled performance-based restricted stock units | Maximum      
Schedule of Share-based Compensation Arrangements by Share-based Payment Award [Line Items]      
Vesting period 4 years    
Employee stock purchase plan      
Schedule of Share-based Compensation Arrangements by Share-based Payment Award [Line Items]      
Service period 1 year    
Percentage of capital stock 5.00%    
Investment authorized $ 5,000.0    
Shares available for purchase by employees (in shares) 6,200,000    
Percent of fair market value, common stock purchased by employees 85.00%    
Cash received from employees who acquired shares under ESPP $ 12,800,000 $ 11,800,000 $ 11,200,000
v3.25.2
STOCK-BASED COMPENSATION - Schedule of Monte Carlo Simulation (Details) - $ / shares
 12 Months Ended
May 25, 2025
May 26, 2024
May 28, 2023
Schedule of Share-based Compensation Arrangements by Share-based Payment Award [Line Items]      
Dividend yield 3.60% 3.40% 3.80%
Expected volatility of stock 40.80% 42.20% 42.00%
Risk-free interest rate 4.10% 4.00% 2.80%
Expected option life (in years) 6 years 3 months 18 days 5 years 10 months 24 days 5 years 10 months 24 days
Weighted-average grant date fair value per unit (in dollars per share) $ 139.43 $ 169.02 $ 121.47
Equity-settled performance-based restricted stock units      
Schedule of Share-based Compensation Arrangements by Share-based Payment Award [Line Items]      
Dividend yield 0.00% 0.00% 0.00%
Expected volatility of stock 26.50% 32.30% 55.50%
Risk-free interest rate 4.20% 4.50% 2.90%
Expected option life (in years) 2 years 10 months 24 days 2 years 10 months 24 days 2 years 9 months 18 days
Weighted-average grant date fair value per unit (in dollars per share) $ 181.65 $ 217.11 $ 137.73
v3.25.2
STOCK-BASED COMPENSATION - Schedule of Performance Stock Unit Activity (Details) - Equity-settled performance-based restricted stock units
shares in Thousands
 12 Months Ended
May 25, 2025
$ / shares
shares
Units  
Outstanding beginning of period (in shares) | shares 350
Units granted (in shares) | shares 110
Units granted/canceled performance impact (in shares) | shares 20
Units vested (in shares) | shares (150)
Units canceled (in shares) | shares 0
Outstanding end of period (in shares) | shares 330
Weighted-Average Grant Date Fair Value Per Unit  
Outstanding beginning of period (in dollars per share) | $ / shares $ 152.39
Units granted (in dollars per share) | $ / shares 181.65
Units granted/canceled performance impact (in dollars per share) | $ / shares 158.40
Units vested (in dollars per share) | $ / shares 126.63
Units canceled (in dollars per share) | $ / shares 0
Outstanding end of period (in dollars per share) | $ / shares $ 175.95
v3.25.2
COMMITMENTS AND CONTINGENCIES (Details) - USD ($)
$ in Millions
May 25, 2025
May 26, 2024
Workers Compensation And General Liabilities Accrued    
Commitments and Contingencies [Line Items]    
Standby letters of credit $ 80.0 $ 79.5
Surety Bond And Other Payments    
Commitments and Contingencies [Line Items]    
Standby letters of credit 16.7 16.8
Property Lease Guarantee    
Commitments and Contingencies [Line Items]    
Loss contingency, maximum estimate of possible loss 76.5 71.0
Fair value of potential payments discounted at pre-tax cost of capital related to guarantee obligations 61.2 57.7
Loss contingency accrual $ 10.6 $ 10.6
v3.25.2
SUBSEQUENT EVENTS (Details) - $ / shares
 12 Months Ended
Jun. 18, 2025
May 25, 2025
May 26, 2024
May 28, 2023
Subsequent Event [Line Items]        
Cash dividend declared (in dollars per share)   $ 5.60 $ 5.24 $ 4.84
Subsequent Event        
Subsequent Event [Line Items]        
Cash dividend declared (in dollars per share) $ 1.50