Darden Restaurants (DRI) 10-Q 4 Oct 22 2023 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Aug. 28, 2022	Sep. 15, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Aug. 28, 2022
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 Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		122,387,059
Entity Central Index Key	0000940944
Amendment Flag	false
Current Fiscal Year End Date	--05-28
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1

CONSOLIDATED STATEMENTS OF EARN

CONSOLIDATED STATEMENTS OF EARNINGS (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Aug. 28, 2022	Aug. 29, 2021
Sales	$ 2,446.1	$ 2,306
Costs and expenses:
Restaurant labor	793.8	736
Marketing expenses	30.3	23.9
General and administrative expenses	88.3	113
Depreciation and amortization	95.6	89
Impairments and disposal of assets, net	(4.9)	0
Total operating costs and expenses	2,201.9	2,025.4
Operating income	244.2	280.6
Interest, net	19.8	15.6
Earnings before income taxes	224.4	265
Income tax expense	30.8	33.3
Earnings from continuing operations	193.6	231.7
Losses from discontinued operations, net of tax benefit of $0.0 and $0.5, respectively	(0.6)	(0.8)
Net earnings	$ 193	$ 230.9
Basic net earnings per share:
Earnings from continuing operations (in dollars per share)	$ 1.58	$ 1.78
Losses from discontinued operations (in dollars per share)	(0.01)	(0.01)
Net earnings (in dollars per share)	1.57	1.77
Diluted net earnings per share:
Earnings from continuing operations (in dollars per share)	1.56	1.76
Losses from discontinued operations (in dollars per share)	0	(0.01)
Net earnings (in dollars per share)	$ 1.56	$ 1.75
Average number of common shares outstanding:
Basic (in shares)	122.9	130.3
Diluted (in shares)	123.9	131.7
Food and beverage
Costs and expenses:
Food and beverage costs and restaurant expenses	$ 795.3	$ 685.4
Restaurant expenses
Costs and expenses:
Food and beverage costs and restaurant expenses	$ 403.5	$ 378.1

CONSOLIDATED STATEMENTS OF EA_2

CONSOLIDATED STATEMENTS OF EARNINGS (Unaudited) (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Aug. 28, 2022	Aug. 29, 2021
Income Statement [Abstract]
Tax expense (benefit) of discontinued operations	$ 0	$ 0.5

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Aug. 28, 2022	Aug. 29, 2021
Statement of Comprehensive Income [Abstract]
Net earnings	$ 193	$ 230.9
Foreign currency adjustment	0	(0.4)
Change in fair value of derivatives and amortization of unrecognized gains and losses on derivatives, net of taxes of $0.6 and $0.0, respectively	2.2	1.8
Net unamortized gain (loss) arising during the period, including amortization of unrecognized net actuarial gain (loss), net of taxes of $0.1 and $0.1, respectively, related to pension and other post-employment benefits	0.1	0.2
Other comprehensive income	2.3	1.6
Total comprehensive income	$ 195.3	$ 232.5

CONSOLIDATED STATEMENTS OF CO_2

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Aug. 28, 2022	Aug. 29, 2021
Statement of Comprehensive Income [Abstract]
Change in fair value of derivatives and amortization of unrecognized gain (loss) on derivatives, tax	$ 0.6	$ 0
Amortization of unrecognized net actuarial gain (loss), tax	$ 0.1	$ 0.1

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Aug. 28, 2022	May 29, 2022
Current assets:
Cash and cash equivalents	$ 377.5	$ 420.6
Receivables, net	50.7	72
Inventories	273.1	270.6
Prepaid income taxes	68.8	274.8
Prepaid expenses and other current assets	170.9	141.4
Total current assets	941	1,179.4
Land, buildings and equipment, net of accumulated depreciation and amortization of $3,215.2 and $3,140.9, respectively	3,485.8	3,356
Operating lease right-of-use assets	3,452.8	3,465.1
Goodwill	1,037.4	1,037.4
Trademarks	806.3	806.3
Other assets	291.2	291.6
Total assets	10,014.5	10,135.8
Current liabilities:
Accounts payable	406.9	366.9
Accrued payroll	137.2	181.5
Accrued income taxes	43	32.1
Other accrued taxes	70.8	64.5
Unearned revenues	467.9	498
Other current liabilities	699.5	704.5
Total current liabilities	1,825.3	1,847.5
Long-term debt	895.1	901
Deferred income taxes	192.4	201.1
Operating lease liabilities - non-current	3,745.5	3,755.8
Other liabilities	1,292.1	1,232.2
Total liabilities	7,950.4	7,937.6
Stockholders’ equity:
Common stock and surplus	2,215.4	2,226
Retained earnings (deficit)	(151.7)	(25.9)
Accumulated other comprehensive income (loss)	0.4	(1.9)
Total stockholders’ equity	2,064.1	2,198.2
Total liabilities and stockholders’ equity	$ 10,014.5	$ 10,135.8

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Aug. 28, 2022	May 29, 2022
Statement of Financial Position [Abstract]
Land, buildings and equipment, net of accumulated depreciation and amortization	$ 3,215.2	$ 3,140.9

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Unaudited) - USD ($) shares in Thousands, $ in Millions	Total	Common Stock And Surplus	Retained Earnings	Accumulated Other Comprehensive Income (Loss)
Beginning balance (in shares) at May. 30, 2021		130,800
Beginning balance at May. 30, 2021	$ 2,813.1	$ 2,286.6	$ 522.3	$ 4.2
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	230.9		230.9
Other comprehensive income	1.6			1.6
Dividends declared	(144.1)		(144.1)
Stock option exercises (in shares)		300
Stock option exercises	17	$ 17
Stock-based compensation	16.3	$ 16.3
Repurchases of common stock (in shares)		(1,300)
Repurchases of common stock	(186.3)	$ (23.1)	(163.2)
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	2.6	$ 2.6
Other	1.3	$ 1.3	0
Ending balance (in shares) at Aug. 29, 2021		130,000
Ending balance at Aug. 29, 2021	2,752.4	$ 2,300.7	445.9	5.8
Beginning balance (in shares) at May. 29, 2022		123,900
Beginning balance at May. 29, 2022	2,198.2	$ 2,226	(25.9)	(1.9)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	193		193
Other comprehensive income	2.3			2.3
Dividends declared	$ (150)		(150)
Stock option exercises (in shares)	70	100
Stock option exercises	$ 3.6	$ 3.6
Stock-based compensation	12.1	$ 12.1
Repurchases of common stock (in shares)		(1,700)
Repurchases of common stock	(199)	$ (30.2)	(168.8)
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	2.8	$ 2.8
Other	1.1	$ 1.1
Ending balance (in shares) at Aug. 28, 2022		122,500
Ending balance at Aug. 28, 2022	$ 2,064.1	$ 2,215.4	$ (151.7)	$ 0.4

CONSOLIDATED STATEMENTS OF CH_2

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Unaudited) (Parenthetical) - $ / shares	3 Months Ended
	Aug. 28, 2022	Aug. 29, 2021
Statement of Stockholders' Equity [Abstract]
Dividends declared (in dollars per share)	$ 1.21	$ 1.10

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Aug. 28, 2022	Aug. 29, 2021
Cash flows—operating activities
Net earnings	$ 193	$ 230.9
Losses from discontinued operations, net of tax	0.6	0.8
Adjustments to reconcile net earnings from continuing operations to cash flows:
Depreciation and amortization	95.6	89
Impairments and disposal of assets, net	(4.9)	0
Stock-based compensation expense	20.3	27.6
Change in current assets and liabilities	133.5	(151.8)
Contributions to pension and postretirement plans	(0.5)	(0.5)
Deferred income taxes	(9.6)	(5.4)
Change in other assets and liabilities	(4.2)	(5.4)
Other, net	4	(4.9)
Net cash provided by operating activities of continuing operations	427.8	180.3
Cash flows—investing activities
Purchases of land, buildings and equipment	(122.8)	(82.7)
Proceeds from disposal of land, buildings and equipment	10.4	3.4
Purchases of capitalized software and other assets	(5.8)	(5.5)
Other, net	0.1	1.1
Net cash used in investing activities of continuing operations	(118.1)	(83.7)
Cash flows—financing activities
Proceeds from issuance of common stock	6.4	19.6
Dividends paid	(148.5)	(143.5)
Repurchases of common stock	(199)	(186.3)
Principal payments on finance leases	(4.3)	(2.6)
Net cash used in financing activities of continuing operations	(345.4)	(312.8)
Cash flows—discontinued operations
Net cash (used in) provided by operating activities of discontinued operations	(0.5)	0.8
Net cash (used in) provided by discontinued operations	(0.5)	0.8
Decrease in cash, cash equivalents, and restricted cash	(36.2)	(215.4)
Cash, cash equivalents, and restricted cash - beginning of period	472.1	1,214.7
Cash, cash equivalents, and restricted cash - end of period	435.9	999.3
Reconciliation of cash, cash equivalents, and restricted cash:
Cash and cash equivalents	377.5	947.8
Restricted cash included in prepaid expenses and other current assets	58.4	51.5
Total cash, cash equivalents, and restricted cash shown in the statement of cash flows	435.9	999.3
Cash flows from changes in current assets and liabilities
Receivables, net	21.3	0.8
Inventories	(2.5)	(20)
Prepaid expenses and other current assets	(28)	(11.8)
Accounts payable	12.6	14.7
Accrued payroll	(44.3)	(23.1)
Prepaid/accrued income taxes	217	33
Other accrued taxes	6.3	7.4
Unearned revenues	(30.2)	(27.1)
Other current liabilities	(18.7)	(125.7)
Change in current assets and liabilities	$ 133.5	$ (151.8)

Basis of Presentation

Basis of Presentation	3 Months Ended
	Aug. 28, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation Darden Restaurants, Inc. (we, our, Darden or the Company) owns and operates full-service dining restaurants in the United States and Canada under the trade names Olive Garden ® , LongHorn Steakhouse ® , Cheddar’s Scratch Kitchen ® , Yard House ® , The Capital Grille ® , Seasons 52 ® , Bahama Breeze ® , Eddie V’s Prime Seafood ® and The Capital Burger ® . As of August 28, 2022, through subsidiaries, we own and operate all of our restaurants in the United States and Canada, except for 2 joint venture restaurants managed by us and 34 franchised restaurants. We also have 28 franchised restaurants in operation located in Latin America and the Caribbean. We have prepared these consolidated financial statements pursuant to the rules and regulations of the Securities and Exchange Commission (SEC). Certain information and footnote disclosures normally presented in annual financial statements prepared in accordance with U.S. generally accepted accounting principles (GAAP) have been condensed or omitted pursuant to such rules and regulations. In the opinion of management, all adjustments considered necessary for a fair presentation have been included and are of a normal recurring nature. We operate on a 52/53-week fiscal year which ends on the last Sunday in May. Our fiscal year ending May 28, 2023 will contain 52 weeks of operation. Operating results for interim periods presented are not necessarily indicative of results that may be expected for the full fiscal year. These statements should be read in conjunction with the consolidated financial statements and related notes to consolidated financial statements included in our Annual Report on Form 10-K for the fiscal year ended May 29, 2022. We prepare our consolidated financial statements in conformity with 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 costs and expenses during the reporting period. Actual results could differ from those estimates. We have reclassified certain amounts in prior-period financial statements to conform to the current period’s presentation. COVID-19 Pandemic and Other Impacts to our Operating Environment During fiscal 2022, increasing numbers of COVID-19 cases throughout the United States including the Omicron variant which significantly impacted our restaurants in the third quarter, mostly in January 2022, subjected some of our restaurants to COVID-19-related restrictions such as mask and/or vaccine requirements for team members, guests or both. Exclusions and quarantines of restaurant team members or groups thereof disrupt an individual restaurant’s operations and often come with little or no notice to the local restaurant management. During fiscal 2022, along with COVID-19, our operating results were impacted by geopolitical and other macroeconomic events, leading to higher than usual inflation on wages and other cost of goods sold. These events further impacted the availability of team members needed to staff our restaurants and caused additional disruptions in our product supply chain. The ongoing effects of COVID-19 and its variants, along with other geopolitical and macroeconomic events could lead to further capacity restrictions, mask and vaccination mandates, wage inflation, staffing challenges, product cost inflation and disruptions in the supply chain that impact our restaurants’ ability to obtain the products needed to support their operations. Recently Adopted Accounting Standards In November 2021, the FASB issued ASU 2021-10, Government Assistance (Topic 832), which requires annual disclosures that increase the transparency of transactions involving government grants, including (i) information about the nature of the transactions and related accounting policy used to account for the transactions; (ii) the line items on the balance sheet and income statement affected by these transactions including amounts applicable to each line; and (iii) significant terms and conditions of the transactions, including commitments and contingencies. The guidance is effective for annual periods beginning after December 15, 2021. The Company adopted this guidance in the first quarter of fiscal 2023, but the adoption did not have a material impact on our financial statements.

Revenue Recognition

Revenue Recognition	3 Months Ended
	Aug. 28, 2022
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) August 28, 2022 May 29, 2022 Unearned revenues Deferred gift card revenue $ 488.5 $ 521.1 Deferred gift card discounts (21.1) (23.5) Other 0.5 0.4 Total $ 467.9 $ 498.0 Other liabilities Deferred franchise fees - non-current $ 2.7 $ 2.8 The following table presents a rollforward of deferred gift card revenue. Three Months Ended (in millions) August 28, 2022 August 29, 2021 Beginning balance $ 521.1 $ 494.3 Activations 114.4 106.6 Redemptions and breakage (147.0) (135.9) Ending balance $ 488.5 $ 465.0

Additional Financial Informatio

Additional Financial Information	3 Months Ended
	Aug. 28, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Additional Financial Information	Additional Financial Information Supplemental Balance Sheet Information The components of lease assets and liabilities on the consolidated balance sheet are as follows: (in millions) Balance Sheet Classification August 28, 2022 May 29, 2022 Operating lease right-of-use assets Operating lease right-of-use assets $ 3,452.8 $ 3,465.1 Finance lease right-of-use assets Land, buildings and equipment, net 898.8 838.1 Total lease assets, net $ 4,351.6 $ 4,303.2 Operating lease liabilities - current Other current liabilities $ 181.1 $ 185.8 Finance lease liabilities - current Other current liabilities 17.5 16.6 Operating lease liabilities - non-current Operating lease liabilities - non-current 3,745.5 3,755.8 Finance lease liabilities - non-current Other liabilities 1,087.7 1,018.6 Total lease liabilities $ 5,031.8 $ 4,976.8 Supplemental Cash Flow Information Cash paid for interest and income taxes are as follows: Three Months Ended (in millions) August 28, 2022 August 29, 2021 Interest, net of amounts capitalized $ 21.1 $ 15.3 Income taxes, net of refunds (176.7) 4.2 Non-cash investing and financing activities are as follows: Three Months Ended (in millions) August 28, 2022 August 29, 2021 Increase in land, buildings and equipment through accrued purchases $ 75.9 $ 35.0 Right-of-use assets obtained in exchange for new operating lease liabilities 49.6 3.6 Right-of-use assets obtained in exchange for new finance lease liabilities 41.5 67.8 Net change in right-of-use assets mainly due to lease modifications resulting in reclassification of leases from operating to finance 25.3 73.5

Income Taxes

Income Taxes	3 Months Ended
	Aug. 28, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The effective income tax rate for continuing operations for the quarter ended August 28, 2022 was 13.7 percent compared to an effective income tax rate for the quarter ended August 29, 2021 of 12.6 percent. The change was primarily driven by a decrease in excess tax benefits related to option exercises and equity vesting, offset by lower net earnings from continuing operations for the quarter ended August 28, 2022 compared to the quarter ended August 29, 2021. Included in our remaining balance of unrecognized tax benefits is $7.9 million related to tax positions for which it is reasonably possible that the total amounts could change within the next twelve months based on the outcome of examinations or as a result of the expiration of the statute of limitations for specific jurisdictions.

Net Earnings per Share

Net Earnings per Share	3 Months Ended
	Aug. 28, 2022
Earnings Per Share [Abstract]
Net Earnings per Share	Net Earnings per Share Outstanding stock options, restricted stock and equity-settled performance stock units granted by us represent the only dilutive effect reflected in diluted weighted average shares outstanding, none of which impact the numerator of the diluted net earnings per share computation. Stock options, restricted stock 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: Three Months Ended (in millions) August 28, August 29, Anti-dilutive stock-based compensation awards 0.5 —

Segment Information

Segment Information	3 Months Ended
	Aug. 28, 2022
Segment Reporting [Abstract]
Segment Information	Segment Information We manage our restaurant brands, Olive Garden, LongHorn Steakhouse, Cheddar’s Scratch Kitchen, Yard House, The Capital Grille, Seasons 52, Bahama Breeze, Eddie V’s 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 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, Yard House, Seasons 52, Bahama Breeze and The Capital Burger restaurants in the U.S and results from our franchise operations. 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. Our management 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). These expenses include food and beverage costs, restaurant labor costs, restaurant expenses and marketing expenses (collectively “restaurant and marketing expenses”). Non-cash lease-related expenses included in restaurant expenses (which is a component of segment profit) and lease-related depreciation and amortization are reported at the corporate level as these are expenses for which our operating segments are not being evaluated. Additionally, our lease-related right-of-use assets are not managed or evaluated at the operating segment level, but rather at the corporate level. The following tables reconcile our segment results to our consolidated results reported in accordance with GAAP. (in millions) Olive Garden LongHorn Steakhouse Fine Dining Other Business Corporate Consolidated For the three months ended August 28, 2022 Sales $ 1,130.7 $ 604.6 $ 183.4 $ 527.4 $ — $ 2,446.1 Restaurant and marketing expenses 914.6 512.6 153.4 455.1 (12.8) 2,022.9 Segment profit $ 216.1 $ 92.0 $ 30.0 $ 72.3 $ 12.8 $ 423.2 Depreciation and amortization $ 35.8 $ 16.8 $ 8.9 $ 24.3 $ 9.8 $ 95.6 Impairments and disposal of assets, net — — — — (4.9) (4.9) Purchases of land, buildings and equipment 56.1 28.0 11.3 25.6 1.8 122.8 (in millions) Olive Garden LongHorn Steakhouse Fine Dining Other Business Corporate Consolidated For the three months ended August 29, 2021 Sales $ 1,090.4 $ 567.1 $ 168.8 $ 479.7 $ — $ 2,306.0 Restaurant and marketing expenses 837.1 459.6 135.3 394.9 (3.5) 1,823.4 Segment profit $ 253.3 $ 107.5 $ 33.5 $ 84.8 $ 3.5 $ 482.6 Depreciation and amortization $ 35.3 $ 16.0 $ 8.2 $ 24.1 $ 5.4 $ 89.0 Purchases of land, buildings and equipment 35.3 20.1 8.7 17.9 0.7 82.7 A reconciliation of segment profit to earnings from continuing operations before income taxes is below. Three Months Ended (in millions) August 28, 2022 August 29, 2021 Segment profit $ 423.2 $ 482.6 Less general and administrative expenses (88.3) (113.0) Less depreciation and amortization (95.6) (89.0) Less impairments and disposal of assets, net 4.9 — Less interest, net (19.8) (15.6) Earnings before income taxes $ 224.4 $ 265.0

Impairments and Disposal of Ass

Impairments and Disposal of Assets, Net	3 Months Ended
	Aug. 28, 2022
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: Three Months Ended (in millions) August 28, 2022 August 29, 2021 Restaurant impairments $ — $ — Disposal (gains) losses (4.9) — Other — — Impairments and disposal of assets, net $ (4.9) $ — Disposal gains for the quarter ended August 28, 2022 were primarily related to the sale of properties.

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Aug. 28, 2022
Stockholders' Equity Note [Abstract]
Stockholders' Equity	Stockholders’ Equity Accumulated Other Comprehensive Income (Loss) (AOCI) The components of accumulated other comprehensive income (loss), net of tax, for the quarter ended August 28, 2022 are as follows: (in millions) Foreign Currency Translation Adjustment Unrealized Gains (Losses) on Derivatives Benefit Plan Funding Position Accumulated Other Comprehensive Income (Loss) Balance at May 29, 2022 $ 4.8 $ (0.4) $ (6.3) $ (1.9) Gain (loss) — 1.5 — 1.5 Reclassification realized in net earnings — 0.7 0.1 0.8 Balance at August 28, 2022 $ 4.8 $ 1.8 $ (6.2) $ 0.4 The components of accumulated other comprehensive income (loss), net of tax, for the quarter ended August 29, 2021 are as follows: (in millions) Foreign Currency Translation Adjustment Unrealized Gains (Losses) on Derivatives Benefit Plan Funding Position Accumulated Other Comprehensive Income (Loss) Balances at May 30, 2021 $ 5.2 $ 7.9 $ (8.9) $ 4.2 Gain (loss) (0.4) 2.6 — 2.2 Reclassification realized in net earnings — (0.8) 0.2 (0.6) Balance at August 29, 2021 $ 4.8 $ 9.7 $ (8.7) $ 5.8 The following table presents the amounts and line items in our consolidated statements of earnings where adjustments reclassified from AOCI into net earnings were recorded. Amount Reclassified from AOCI into Net Earnings Three Months Ended (in millions) AOCI Components Location of Gain (Loss) Recognized in Earnings August 28, August 29, Derivatives Commodity contracts (1) $ 0.1 $ — Equity contracts (2) (0.8) 0.8 Total before tax $ (0.7) $ 0.8 Tax (expense) benefit — — Net of tax $ (0.7) $ 0.8 Benefit plan funding position Recognized net actuarial loss - pension/postretirement plans (3) $ — $ (0.1) Recognized net actuarial gain (loss) - other plans (3) (0.2) (0.2) Total before tax $ (0.2) $ (0.3) Tax (expense) benefit 0.1 0.1 Net of tax $ (0.1) $ (0.2) (1) Primarily included in food and beverage costs and restaurant expenses. See Note 10 for additional details. (2) Included in general and administrative expenses. See Note 10 for additional details. (3) Included in the computation of net periodic benefit costs, which is a component of general and administrative expenses.

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Aug. 28, 2022
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation We grant stock options for a fixed number of shares to certain employees with an exercise price equal to the fair value of the shares at the date of grant. We also grant restricted stock, restricted stock units and performance stock units with a fair value generally determined based on our closing stock price on the date of grant. In addition, we grant cash settled stock units (Darden stock units) which are classified as liabilities and are marked to market as of the end of each period. The weighted-average fair value of non-qualified stock options and the related assumptions used in the Black-Scholes option pricing model for options granted during the periods presented, were as follows: Three Months Ended August 28, 2022 August 29, 2021 Weighted-average fair value $ 36.20 $ 41.02 Dividend yield 3.8 % 3.2 % Expected volatility of stock 42.0 % 39.6 % Risk-free interest rate 2.8 % 0.9 % Expected option life (in years) 5.9 6.3 Weighted-average exercise price per share $ 121.47 $ 148.20 The weighted-average grant date fair value of market-based performance stock units and the related assumptions used in the Monte Carlo simulation to record stock-based compensation for units granted during the periods presented, were as follows: Three Months Ended August 28, 2022 August 29, 2021 Dividend yield (1) 0.0 % 0.0 % Expected volatility of stock 55.5 % 53.4 % Risk-free interest rate 2.9 % 0.4 % Expected life (in years) 2.8 2.8 Weighted-average grant date fair value per unit $ 137.73 $ 172.34 (1) Assumes a reinvestment of dividends. The following table presents a summary of our stock-based compensation activity for the three months ended August 28, 2022. (in millions) Stock Restricted Equity-Settled Cash-Settled Darden Outstanding beginning of period 1.81 0.25 0.41 0.82 Awards granted 0.18 0.05 0.10 0.20 Awards granted performance impact — — (0.04) — Awards exercised/vested (0.07) (0.04) (0.11) (0.14) Awards forfeited — — — (0.02) Outstanding end of period 1.92 0.26 0.36 0.86 We recognized expense from stock-based compensation as follows: Three Months Ended (in millions) August 28, August 29, Stock options $ 2.6 $ 3.4 Restricted stock/restricted stock units 2.8 3.8 Equity-settled performance stock units 5.6 8.1 Cash-settled Darden stock units 8.2 11.3 Employee stock purchase plan 0.7 0.7 Director compensation program/other 0.4 0.3 Total stock-based compensation expense $ 20.3 $ 27.6

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	3 Months Ended
	Aug. 28, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
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 provided by FASB ASC Topic 815, Derivatives and Hedging, and those utilized as economic hedges. We use financial derivatives to manage interest rate and compensation risks inherent in our business operations. Cash flows related to derivatives are included in operating activities. 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. We designate commodity contracts and equity forward contracts as cash flow hedging instruments. Our interest rate swap agreements are designated as fair value hedges of the related debt. Further, we entered into equity forward contracts to hedge the risk of changes in future cash flows associated with recognized, employee-directed investments in Darden 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 Darden stock investments in the non-qualified deferred compensation plan. The notional and fair values of our derivative contracts are as follows: Fair Values (in millions, except Number of Shares Outstanding Weighted-Average Notional Values Derivative Assets (1) Derivative Liabilities (1) August 28, 2022 August 28, May 29, August 28, May 29, Equity forwards: Designated 0.4 $125.13 $ 44.4 $ — $ — $ 2.6 $ 0.1 Not designated 0.4 125.28 52.8 — — 3.0 0.2 Total equity forwards (2) $ — $ — $ 5.6 $ 0.3 Commodity contracts: Designated N/A N/A $ 9.1 $ 3.1 $ 0.6 $ — $ — Not designated N/A N/A — — — — — Total commodity contracts (3) $ 3.1 $ 0.6 $ — $ — Interest rate related Designated N/A N/A $ 300.0 $ — $ — $ 34.2 $ 28.0 Not designated N/A N/A — — — — Total interest rate related $ — $ — $ 34.2 $ 28.0 Total derivative contracts $ 3.1 $ 0.6 $ 39.8 $ 28.3 (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 2026 and April 2027, respectively. (3) Commodity contracts extend through May 2023. The effects of derivative instruments accounted for as cash flow hedging instruments in the consolidated statements of earnings are as follows: Amount of Gain (Loss) Recognized in AOCI Amount of Gain (Loss) Reclassified from AOCI to Earnings Three Months Ended Three Months Ended (in millions) August 28, August 29, August 28, August 29, Equity (1) $ (0.5) $ 2.7 $ (0.8) $ 0.8 Commodity (2) 2.6 (0.1) 0.1 — Total $ 2.1 $ 2.6 $ (0.7) $ 0.8 (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. The effects of derivative instruments in fair value hedging relationships in the consolidated statement of earnings are as follows: Amount of Gain (Loss) Recognized in Earnings on Derivatives Amount of Gain (Loss) Recognized in Earnings on Related Hedged Item Three Months Ended Three Months Ended (in millions) August 28, August 29, August 28, August 29, Interest rate (1)(2) $ (6.3) $ 6.7 $ 6.3 $ (6.7) (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) Three Months Ended Location of Gain (Loss) Recognized in Earnings on Derivatives August 28, 2022 August 29, 2021 Food and beverage costs and restaurant expenses $ — $ 0.1 General and administrative expenses (1.1) 5.1 Total $ (1.1) $ 5.2

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Aug. 28, 2022
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 as of August 28, 2022 and May 29, 2022 . Items Measured at Fair Value at August 28, 2022 (in millions) Fair value Quoted prices Significant Significant Derivatives: Commodities futures, swaps & options (1) $ 3.1 $ — $ 3.1 $ — Equity forwards (2) $ (5.6) $ — $ (5.6) $ — Interest rate swaps (3) (34.2) — (34.2) — Total $ (36.7) $ — $ (36.7) $ — Items Measured at Fair Value at May 29, 2022 (in millions) Fair value Quoted prices Significant Significant Derivatives: Commodities futures, swaps & options (1) $ 0.6 $ — $ 0.6 $ — Equity forwards (2) (0.3) — (0.3) — Interest rate swaps (3) (28.0) — (28.0) — Total $ (27.7) $ — $ (27.7) $ — (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. The carrying value and fair value of long-term debt as of August 28, 2022, was $895.1 million and $872.7 million, respectively. The carrying value and fair value of long-term debt as of May 29, 2022, was $901.0 million and $896.9 billion, respectively. 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 determined based on third-party market appraisals. As of August 28, 2022 and May 29, 2022, 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.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Aug. 28, 2022
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 are contingently liable for guarantees of subsidiary obligations under standby letters of credit. As of August 28, 2022 and May 29, 2022, we had $85.4 million and $104.8 million, respectively, of standby letters of credit related to workers’ compensation and general liabilities accrued in our consolidated financial statements. As of August 28, 2022 and May 29, 2022, we had $18.7 million and $18.8 million, respectively, of surety bonds related to other payments. Most surety bonds are renewable annually. As of August 28, 2022 and May 29, 2022, we had $94.1 million and $101.0 million, respectively, of guarantees associated with leased properties that have been assigned to third parties. These amounts represent the maximum potential amount of future payments under the guarantees. The fair value of the maximum potential future payments discounted at our weighted-average cost of capital as of August 28, 2022 and May 29, 2022, amounted to $78.1 million and $83.6 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. These guarantees expire over their respective lease terms, which range from fiscal 2023 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

Subsequent Events

Subsequent Events	3 Months Ended
	Aug. 28, 2022
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On September 20, 2022, the Board of Directors declared a cash dividend of $1.21 per share to be paid November 1, 2022 to all shareholders of record as of the close of business on October 10, 2022.

Basis of Presentation (Policies

Basis of Presentation (Policies)	3 Months Ended
	Aug. 28, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	We have prepared these consolidated financial statements pursuant to the rules and regulations of the Securities and Exchange Commission (SEC). Certain information and footnote disclosures normally presented in annual financial statements prepared in accordance with U.S. generally accepted accounting principles (GAAP) have been condensed or omitted pursuant to such rules and regulations. In the opinion of management, all adjustments considered necessary for a fair presentation have been included and are of a normal recurring nature. We operate on a 52/53-week fiscal year which ends on the last Sunday in May. Our fiscal year ending May 28, 2023 will contain 52 weeks of operation. Operating results for interim periods presented are not necessarily indicative of results that may be expected for the full fiscal year.These statements should be read in conjunction with the consolidated financial statements and related notes to consolidated financial statements included in our Annual Report on Form 10-K for the fiscal year ended May 29, 2022. We prepare our consolidated financial statements in conformity with 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 costs and expenses during the reporting period. Actual results could differ from those estimates.
Reclassification	We have reclassified certain amounts in prior-period financial statements to conform to the current period’s presentation.
COVID-19 Pandemic and Other Impacts to our Operating Environment	COVID-19 Pandemic and Other Impacts to our Operating Environment During fiscal 2022, increasing numbers of COVID-19 cases throughout the United States including the Omicron variant which significantly impacted our restaurants in the third quarter, mostly in January 2022, subjected some of our restaurants to COVID-19-related restrictions such as mask and/or vaccine requirements for team members, guests or both. Exclusions and quarantines of restaurant team members or groups thereof disrupt an individual restaurant’s operations and often come with little or no notice to the local restaurant management. During fiscal 2022, along with COVID-19, our operating results were impacted by geopolitical and other macroeconomic events, leading to higher than usual inflation on wages and other cost of goods sold. These events further impacted the availability of team members needed to staff our restaurants and caused additional disruptions in our product supply chain.
Recently Adopted Accounting Standards	Recently Adopted Accounting Standards In November 2021, the FASB issued ASU 2021-10, Government Assistance (Topic 832), which requires annual disclosures that increase the transparency of transactions involving government grants, including (i) information about the nature of the transactions and related accounting policy used to account for the transactions; (ii) the line items on the balance sheet and income statement affected by these transactions including amounts applicable to each line; and (iii) significant terms and conditions of the transactions, including commitments and contingencies. The guidance is effective for annual periods beginning after December 15, 2021. The Company adopted this guidance in the first quarter of fiscal 2023, but the adoption did not have a material impact on our financial statements.
Derivative Instruments and Hedging Activities	We enter into derivative instruments for risk management purposes only, including derivatives designated as hedging instruments as provided by FASB ASC Topic 815, Derivatives and Hedging, and those utilized as economic hedges. We use financial derivatives to manage interest rate and compensation risks inherent in our business operations. Cash flows related to derivatives are included in operating activities. 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. We designate commodity contracts and equity forward contracts as cash flow hedging instruments. Our interest rate swap agreements are designated as fair value hedges of the related debt. Further, we entered into equity forward contracts to hedge the risk of changes in future cash flows associated with recognized, employee-directed investments in Darden 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 Darden stock investments in the non-qualified deferred compensation plan.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	Aug. 28, 2022
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) August 28, 2022 May 29, 2022 Unearned revenues Deferred gift card revenue $ 488.5 $ 521.1 Deferred gift card discounts (21.1) (23.5) Other 0.5 0.4 Total $ 467.9 $ 498.0 Other liabilities Deferred franchise fees - non-current $ 2.7 $ 2.8 The following table presents a rollforward of deferred gift card revenue. Three Months Ended (in millions) August 28, 2022 August 29, 2021 Beginning balance $ 521.1 $ 494.3 Activations 114.4 106.6 Redemptions and breakage (147.0) (135.9) Ending balance $ 488.5 $ 465.0

Additional Financial Informat_2

Additional Financial Information (Tables)	3 Months Ended
	Aug. 28, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Components of Lease Assets and Liabilities	The components of lease assets and liabilities on the consolidated balance sheet are as follows: (in millions) Balance Sheet Classification August 28, 2022 May 29, 2022 Operating lease right-of-use assets Operating lease right-of-use assets $ 3,452.8 $ 3,465.1 Finance lease right-of-use assets Land, buildings and equipment, net 898.8 838.1 Total lease assets, net $ 4,351.6 $ 4,303.2 Operating lease liabilities - current Other current liabilities $ 181.1 $ 185.8 Finance lease liabilities - current Other current liabilities 17.5 16.6 Operating lease liabilities - non-current Operating lease liabilities - non-current 3,745.5 3,755.8 Finance lease liabilities - non-current Other liabilities 1,087.7 1,018.6 Total lease liabilities $ 5,031.8 $ 4,976.8
Schedule of Cash Flow, Supplemental Disclosures	Cash paid for interest and income taxes are as follows: Three Months Ended (in millions) August 28, 2022 August 29, 2021 Interest, net of amounts capitalized $ 21.1 $ 15.3 Income taxes, net of refunds (176.7) 4.2 Non-cash investing and financing activities are as follows: Three Months Ended (in millions) August 28, 2022 August 29, 2021 Increase in land, buildings and equipment through accrued purchases $ 75.9 $ 35.0 Right-of-use assets obtained in exchange for new operating lease liabilities 49.6 3.6 Right-of-use assets obtained in exchange for new finance lease liabilities 41.5 67.8 Net change in right-of-use assets mainly due to lease modifications resulting in reclassification of leases from operating to finance 25.3 73.5

Net Earnings per Share (Tables)

Net Earnings per Share (Tables)	3 Months Ended
	Aug. 28, 2022
Earnings Per Share [Abstract]
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	Stock options, restricted stock 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: Three Months Ended (in millions) August 28, August 29, Anti-dilutive stock-based compensation awards 0.5 —

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Aug. 28, 2022
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 Garden LongHorn Steakhouse Fine Dining Other Business Corporate Consolidated For the three months ended August 28, 2022 Sales $ 1,130.7 $ 604.6 $ 183.4 $ 527.4 $ — $ 2,446.1 Restaurant and marketing expenses 914.6 512.6 153.4 455.1 (12.8) 2,022.9 Segment profit $ 216.1 $ 92.0 $ 30.0 $ 72.3 $ 12.8 $ 423.2 Depreciation and amortization $ 35.8 $ 16.8 $ 8.9 $ 24.3 $ 9.8 $ 95.6 Impairments and disposal of assets, net — — — — (4.9) (4.9) Purchases of land, buildings and equipment 56.1 28.0 11.3 25.6 1.8 122.8 (in millions) Olive Garden LongHorn Steakhouse Fine Dining Other Business Corporate Consolidated For the three months ended August 29, 2021 Sales $ 1,090.4 $ 567.1 $ 168.8 $ 479.7 $ — $ 2,306.0 Restaurant and marketing expenses 837.1 459.6 135.3 394.9 (3.5) 1,823.4 Segment profit $ 253.3 $ 107.5 $ 33.5 $ 84.8 $ 3.5 $ 482.6 Depreciation and amortization $ 35.3 $ 16.0 $ 8.2 $ 24.1 $ 5.4 $ 89.0 Purchases of land, buildings and equipment 35.3 20.1 8.7 17.9 0.7 82.7
Reconciliation of Operating Profit (Loss) from Segments to Consolidated	A reconciliation of segment profit to earnings from continuing operations before income taxes is below. Three Months Ended (in millions) August 28, 2022 August 29, 2021 Segment profit $ 423.2 $ 482.6 Less general and administrative expenses (88.3) (113.0) Less depreciation and amortization (95.6) (89.0) Less impairments and disposal of assets, net 4.9 — Less interest, net (19.8) (15.6) Earnings before income taxes $ 224.4 $ 265.0

Impairments and Disposal of A_2

Impairments and Disposal of Assets, Net (Tables)	3 Months Ended
	Aug. 28, 2022
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: Three Months Ended (in millions) August 28, 2022 August 29, 2021 Restaurant impairments $ — $ — Disposal (gains) losses (4.9) — Other — — Impairments and disposal of assets, net $ (4.9) $ —

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	3 Months Ended
	Aug. 28, 2022
Stockholders' Equity Note [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The components of accumulated other comprehensive income (loss), net of tax, for the quarter ended August 28, 2022 are as follows: (in millions) Foreign Currency Translation Adjustment Unrealized Gains (Losses) on Derivatives Benefit Plan Funding Position Accumulated Other Comprehensive Income (Loss) Balance at May 29, 2022 $ 4.8 $ (0.4) $ (6.3) $ (1.9) Gain (loss) — 1.5 — 1.5 Reclassification realized in net earnings — 0.7 0.1 0.8 Balance at August 28, 2022 $ 4.8 $ 1.8 $ (6.2) $ 0.4 The components of accumulated other comprehensive income (loss), net of tax, for the quarter ended August 29, 2021 are as follows: (in millions) Foreign Currency Translation Adjustment Unrealized Gains (Losses) on Derivatives Benefit Plan Funding Position Accumulated Other Comprehensive Income (Loss) Balances at May 30, 2021 $ 5.2 $ 7.9 $ (8.9) $ 4.2 Gain (loss) (0.4) 2.6 — 2.2 Reclassification realized in net earnings — (0.8) 0.2 (0.6) Balance at August 29, 2021 $ 4.8 $ 9.7 $ (8.7) $ 5.8
Reclassification out of Accumulated Other Comprehensive Income	The following table presents the amounts and line items in our consolidated statements of earnings where adjustments reclassified from AOCI into net earnings were recorded. Amount Reclassified from AOCI into Net Earnings Three Months Ended (in millions) AOCI Components Location of Gain (Loss) Recognized in Earnings August 28, August 29, Derivatives Commodity contracts (1) $ 0.1 $ — Equity contracts (2) (0.8) 0.8 Total before tax $ (0.7) $ 0.8 Tax (expense) benefit — — Net of tax $ (0.7) $ 0.8 Benefit plan funding position Recognized net actuarial loss - pension/postretirement plans (3) $ — $ (0.1) Recognized net actuarial gain (loss) - other plans (3) (0.2) (0.2) Total before tax $ (0.2) $ (0.3) Tax (expense) benefit 0.1 0.1 Net of tax $ (0.1) $ (0.2) (1) Primarily included in food and beverage costs and restaurant expenses. See Note 10 for additional details. (2) Included in general and administrative expenses. See Note 10 for additional details. (3) Included in the computation of net periodic benefit costs, which is a component of general and administrative expenses.

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Aug. 28, 2022
Share-Based Payment Arrangement [Abstract]
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions	The weighted-average fair value of non-qualified stock options and the related assumptions used in the Black-Scholes option pricing model for options granted during the periods presented, were as follows: Three Months Ended August 28, 2022 August 29, 2021 Weighted-average fair value $ 36.20 $ 41.02 Dividend yield 3.8 % 3.2 % Expected volatility of stock 42.0 % 39.6 % Risk-free interest rate 2.8 % 0.9 % Expected option life (in years) 5.9 6.3 Weighted-average exercise price per share $ 121.47 $ 148.20 The weighted-average grant date fair value of market-based performance stock units and the related assumptions used in the Monte Carlo simulation to record stock-based compensation for units granted during the periods presented, were as follows: Three Months Ended August 28, 2022 August 29, 2021 Dividend yield (1) 0.0 % 0.0 % Expected volatility of stock 55.5 % 53.4 % Risk-free interest rate 2.9 % 0.4 % Expected life (in years) 2.8 2.8 Weighted-average grant date fair value per unit $ 137.73 $ 172.34 (1) Assumes a reinvestment of dividends.
Schedule of Nonvested Share Activity	The following table presents a summary of our stock-based compensation activity for the three months ended August 28, 2022. (in millions) Stock Restricted Equity-Settled Cash-Settled Darden Outstanding beginning of period 1.81 0.25 0.41 0.82 Awards granted 0.18 0.05 0.10 0.20 Awards granted performance impact — — (0.04) — Awards exercised/vested (0.07) (0.04) (0.11) (0.14) Awards forfeited — — — (0.02) Outstanding end of period 1.92 0.26 0.36 0.86
Schedule of Recognized Expense From Stock-Based Compensation	We recognized expense from stock-based compensation as follows: Three Months Ended (in millions) August 28, August 29, Stock options $ 2.6 $ 3.4 Restricted stock/restricted stock units 2.8 3.8 Equity-settled performance stock units 5.6 8.1 Cash-settled Darden stock units 8.2 11.3 Employee stock purchase plan 0.7 0.7 Director compensation program/other 0.4 0.3 Total stock-based compensation expense $ 20.3 $ 27.6

Derivative Instruments and He_2

Derivative Instruments and Hedging Activities (Tables)	3 Months Ended
	Aug. 28, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Notional and Fair Values of Derivative Contracts	The notional and fair values of our derivative contracts are as follows: Fair Values (in millions, except Number of Shares Outstanding Weighted-Average Notional Values Derivative Assets (1) Derivative Liabilities (1) August 28, 2022 August 28, May 29, August 28, May 29, Equity forwards: Designated 0.4 $125.13 $ 44.4 $ — $ — $ 2.6 $ 0.1 Not designated 0.4 125.28 52.8 — — 3.0 0.2 Total equity forwards (2) $ — $ — $ 5.6 $ 0.3 Commodity contracts: Designated N/A N/A $ 9.1 $ 3.1 $ 0.6 $ — $ — Not designated N/A N/A — — — — — Total commodity contracts (3) $ 3.1 $ 0.6 $ — $ — Interest rate related Designated N/A N/A $ 300.0 $ — $ — $ 34.2 $ 28.0 Not designated N/A N/A — — — — Total interest rate related $ — $ — $ 34.2 $ 28.0 Total derivative contracts $ 3.1 $ 0.6 $ 39.8 $ 28.3 (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 2026 and April 2027, respectively. (3) Commodity contracts extend through May 2023.
Effects of Derivative Instruments in Hedging Relationships	The effects of derivative instruments accounted for as cash flow hedging instruments in the consolidated statements of earnings are as follows: Amount of Gain (Loss) Recognized in AOCI Amount of Gain (Loss) Reclassified from AOCI to Earnings Three Months Ended Three Months Ended (in millions) August 28, August 29, August 28, August 29, Equity (1) $ (0.5) $ 2.7 $ (0.8) $ 0.8 Commodity (2) 2.6 (0.1) 0.1 — Total $ 2.1 $ 2.6 $ (0.7) $ 0.8 (1) Location of the gain (loss) reclassified from AOCI to earnings is general and administrative expenses. The effects of derivative instruments in fair value hedging relationships in the consolidated statement of earnings are as follows: Amount of Gain (Loss) Recognized in Earnings on Derivatives Amount of Gain (Loss) Recognized in Earnings on Related Hedged Item Three Months Ended Three Months Ended (in millions) August 28, August 29, August 28, August 29, Interest rate (1)(2) $ (6.3) $ 6.7 $ 6.3 $ (6.7) (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) Three Months Ended Location of Gain (Loss) Recognized in Earnings on Derivatives August 28, 2022 August 29, 2021 Food and beverage costs and restaurant expenses $ — $ 0.1 General and administrative expenses (1.1) 5.1 Total $ (1.1) $ 5.2

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Aug. 28, 2022
Fair Value Disclosures [Abstract]
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 as of August 28, 2022 and May 29, 2022 . Items Measured at Fair Value at August 28, 2022 (in millions) Fair value Quoted prices Significant Significant Derivatives: Commodities futures, swaps & options (1) $ 3.1 $ — $ 3.1 $ — Equity forwards (2) $ (5.6) $ — $ (5.6) $ — Interest rate swaps (3) (34.2) — (34.2) — Total $ (36.7) $ — $ (36.7) $ — Items Measured at Fair Value at May 29, 2022 (in millions) Fair value Quoted prices Significant Significant Derivatives: Commodities futures, swaps & options (1) $ 0.6 $ — $ 0.6 $ — Equity forwards (2) (0.3) — (0.3) — Interest rate swaps (3) (28.0) — (28.0) — Total $ (27.7) $ — $ (27.7) $ — (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.

Basis of Presentation (Details)

Basis of Presentation (Details)	Aug. 28, 2022 restaurant
Entity Operated Units | North America
Summary Of Significant Accounting Policies [Line Items]
Number of restaurants	2
Franchised Units | North America
Summary Of Significant Accounting Policies [Line Items]
Number of restaurants	34
Franchised Units | Latin America And Caribbean
Summary Of Significant Accounting Policies [Line Items]
Number of restaurants	28

Revenue Recognition - Deferred

Revenue Recognition - Deferred Revenue from Contract with Customer (Details) - USD ($) $ in Millions	Aug. 28, 2022	May 29, 2022	Aug. 29, 2021	May 30, 2021
Unearned revenues
Total	$ 467.9	$ 498
Other liabilities
Deferred franchise fees - non-current	2.7	2.8
Gift Card
Unearned revenues
Unearned revenues	488.5	521.1	$ 465	$ 494.3
Deferred gift card discounts	(21.1)	(23.5)
Other
Unearned revenues
Unearned revenues	$ 0.5	$ 0.4

Revenue Recognition - Deferre_2

Revenue Recognition - Deferred Gift Card Revenue (Details) - Gift Card - USD ($) $ in Millions	3 Months Ended
	Aug. 28, 2022	Aug. 29, 2021
Change in Contract with Customer, Liability [Roll Forward]
Beginning balance	$ 521.1	$ 494.3
Activations	114.4	106.6
Redemptions and breakage	(147)	(135.9)
Ending balance	$ 488.5	$ 465

Additional Financial Informat_3

Additional Financial Information - Supplemental Balance Sheet Information (Details) - USD ($) $ in Millions	Aug. 28, 2022	May 29, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Operating lease right-of-use assets	$ 3,452.8	$ 3,465.1
Finance lease right-of-use assets	$ 898.8	$ 838.1
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Carrying amount of long-lived assets held and used	Carrying amount of long-lived assets held and used
Total lease assets, net	$ 4,351.6	$ 4,303.2
Operating lease liabilities - current	$ 181.1	$ 185.8
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Other Liabilities, Current	Other Liabilities, Current
Finance lease liabilities - current	$ 17.5	$ 16.6
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List]	Other Liabilities, Current	Other Liabilities, Current
Operating lease liabilities - non-current	$ 3,745.5	$ 3,755.8
Finance lease liabilities - non-current	$ 1,087.7	$ 1,018.6
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Other liabilities	Other liabilities
Total lease liabilities	$ 5,031.8	$ 4,976.8

Additional Financial Informat_4

Additional Financial Information - Supplemental Cash Flow Information (Details) - USD ($) $ in Millions	3 Months Ended
	Aug. 28, 2022	Aug. 29, 2021	May 29, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Interest, net of amounts capitalized	$ 21.1	$ 15.3
Income taxes, net of refunds	(176.7)	4.2
Increase in land, buildings and equipment through accrued purchases	75.9	35
Right-of-use assets obtained in exchange for new operating lease liabilities	49.6	3.6
Right-of-use assets obtained in exchange for new finance lease liabilities	41.5	67.8
Net change in right-of-use assets mainly due to lease modifications resulting in reclassification of leases from operating to finance	25.3	73.5
Restricted cash	$ 58.4	$ 51.5	$ 51.5

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended
	Aug. 28, 2022	Aug. 29, 2021
Income Tax Disclosure [Abstract]
Effective income tax rate	13.70%	12.60%
Tax position, change is reasonably possible in the next twelve months	$ 7.9

Net Earnings per Share (Details

Net Earnings per Share (Details) - shares shares in Millions	3 Months Ended
	Aug. 28, 2022	Aug. 29, 2021
Earnings Per Share [Abstract]
Anti-dilutive stock-based compensation awards (in shares)	0.5	0

Segment Information - Narrative

Segment Information - Narrative (Details)	3 Months Ended
	Aug. 28, 2022 segment
Segment Reporting [Abstract]
Number of reportable segments	4

Segment Information - Schedule

Segment Information - Schedule of Segment Reporting (Details) - USD ($) $ in Millions	3 Months Ended
	Aug. 28, 2022	Aug. 29, 2021
Segment Reporting Information [Line Items]
Sales	$ 2,446.1	$ 2,306
Restaurant and marketing expenses	2,022.9	1,823.4
Segment profit	423.2	482.6
Depreciation and amortization	95.6	89
Impairments and disposal of assets, net	(4.9)	0
Purchases of land, buildings and equipment	122.8	82.7
Operating Segments | Olive Garden
Segment Reporting Information [Line Items]
Sales	1,130.7	1,090.4
Restaurant and marketing expenses	914.6	837.1
Segment profit	216.1	253.3
Depreciation and amortization	35.8	35.3
Impairments and disposal of assets, net	0
Purchases of land, buildings and equipment	56.1	35.3
Operating Segments | LongHorn Steakhouse
Segment Reporting Information [Line Items]
Sales	604.6	567.1
Restaurant and marketing expenses	512.6	459.6
Segment profit	92	107.5
Depreciation and amortization	16.8	16
Impairments and disposal of assets, net	0
Purchases of land, buildings and equipment	28	20.1
Operating Segments | Fine Dining
Segment Reporting Information [Line Items]
Sales	183.4	168.8
Restaurant and marketing expenses	153.4	135.3
Segment profit	30	33.5
Depreciation and amortization	8.9	8.2
Impairments and disposal of assets, net	0
Purchases of land, buildings and equipment	11.3	8.7
Operating Segments | Other Business
Segment Reporting Information [Line Items]
Sales	527.4	479.7
Restaurant and marketing expenses	455.1	394.9
Segment profit	72.3	84.8
Depreciation and amortization	24.3	24.1
Impairments and disposal of assets, net	0
Purchases of land, buildings and equipment	25.6	17.9
Corporate
Segment Reporting Information [Line Items]
Sales	0	0
Restaurant and marketing expenses	(12.8)	(3.5)
Segment profit	12.8	3.5
Depreciation and amortization	9.8	5.4
Impairments and disposal of assets, net	(4.9)
Purchases of land, buildings and equipment	$ 1.8	$ 0.7

Segment Information - Reconcili

Segment Information - Reconciliation of Segment Profit to Earnings (Details) - USD ($) $ in Millions	3 Months Ended
	Aug. 28, 2022	Aug. 29, 2021
Segment Reporting [Abstract]
Segment profit	$ 423.2	$ 482.6
Less general and administrative expenses	(88.3)	(113)
Less depreciation and amortization	(95.6)	(89)
Less impairments and disposal of assets, net	4.9	0
Less interest, net	(19.8)	(15.6)
Earnings before income taxes	$ 224.4	$ 265

Impairments and Disposal of A_3

Impairments and Disposal of Assets, Net (Details) - USD ($) $ in Millions	3 Months Ended
	Aug. 28, 2022	Aug. 29, 2021
Asset Impairment Charges [Abstract]
Restaurant impairments	$ 0	$ 0
Disposal (gains) losses	(4.9)	0
Other	0	0
Impairments and disposal of assets, net	$ (4.9)	$ 0

Stockholders' Equity - Schedule

Stockholders' Equity - Schedule of Components of Accumulated Other Comprehensive Income (Details) - USD ($) $ in Millions	3 Months Ended
	Aug. 28, 2022	Aug. 29, 2021
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 2,198.2	$ 2,813.1
Gain (loss)	1.5	2.2
Reclassification realized in net earnings	0.8	(0.6)
Ending balance	2,064.1	2,752.4
Foreign Currency Translation Adjustment
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	4.8	5.2
Gain (loss)	0	(0.4)
Reclassification realized in net earnings	0	0
Ending balance	4.8	4.8
Unrealized Gains (Losses) on Derivatives
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(0.4)	7.9
Gain (loss)	1.5	2.6
Reclassification realized in net earnings	0.7	(0.8)
Ending balance	1.8	9.7
Benefit Plan Funding Position
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(6.3)	(8.9)
Gain (loss)	0	0
Reclassification realized in net earnings	0.1	0.2
Ending balance	(6.2)	(8.7)
Accumulated Other Comprehensive Income (Loss)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(1.9)	4.2
Ending balance	$ 0.4	$ 5.8

Stockholders' Equity - Schedu_2

Stockholders' Equity - Schedule of Reclassification Adjustments out of Accumulated Other Comprehensive Income (Details) - USD ($) $ in Millions	3 Months Ended
	Aug. 28, 2022	Aug. 29, 2021
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Less general and administrative expenses	$ (88.3)	$ (113)
Total before tax	224.4	265
Tax (expense) benefit	(30.8)	(33.3)
Net earnings	193	230.9
Amount Reclassified from AOCI into Net Earnings | Derivatives
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Total before tax	(0.7)	0.8
Tax (expense) benefit	0	0
Net earnings	(0.7)	0.8
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	0.1	0
Amount Reclassified from AOCI into Net Earnings | Derivatives | Equity contracts
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Restaurant labor costs and general and administrative expenses	(0.8)	0.8
Amount Reclassified from AOCI into Net Earnings | Benefit plan funding position
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Total before tax	(0.2)	(0.3)
Tax (expense) benefit	0.1	0.1
Net earnings	(0.1)	(0.2)
Amount Reclassified from AOCI into Net Earnings | Benefit plan funding position | Pension/postretirement plans
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Restaurant labor costs and general and administrative expenses	0	(0.1)
Amount Reclassified from AOCI into Net Earnings | Benefit plan funding position | Other plans
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Less general and administrative expenses	$ (0.2)	$ (0.2)

Stock-Based Compensation - Opti

Stock-Based Compensation - Option Pricing Assumptions (Details) - $ / shares	3 Months Ended
	Aug. 28, 2022	Aug. 29, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average fair value (in dollars per share)	$ 36.20	$ 41.02
Weighted-average exercise price per share (in dollars per share)	$ 121.47	$ 148.20
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield	3.80%	3.20%
Expected volatility of stock	42%	39.60%
Risk-free interest rate	2.80%	0.90%
Expected option life (in years)	5 years 10 months 24 days	6 years 3 months 18 days
Equity-Settled Performance Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield	0%	0%
Expected volatility of stock	55.50%	53.40%
Risk-free interest rate	2.90%	0.40%
Expected option life (in years)	2 years 9 months 18 days	2 years 9 months 18 days
Weighted-average exercise price per share (in dollars per share)	$ 137.73	$ 172.34

Stock-Based Compensation - Shar

Stock-Based Compensation - Share Activity (Details) shares in Thousands	3 Months Ended
	Aug. 28, 2022 shares
Stock Options
Outstanding shares beginning of period (in shares)	1,810
Awards granted (in shares)	180
Awards exercised/vested (in shares)	(70)
Awards forfeited (in shares)	0
Outstanding shares end of period (in shares)	1,920
Restricted Stock/ Restricted Stock Units
Non-Option Awards
Outstanding shares beginning of period (in shares)	250
Awards granted (in shares)	50
Awards exercised/vested (in shares)	(40)
Awards forfeited (in shares)	0
Outstanding shares end of period (in shares)	260
Equity-Settled Performance Stock Units
Non-Option Awards
Outstanding shares beginning of period (in shares)	410
Awards granted (in shares)	100
Awards granted performance impact (in shares)	(40)
Awards exercised/vested (in shares)	(110)
Awards forfeited (in shares)	0
Outstanding shares end of period (in shares)	360
Cash-Settled Darden Stock Units
Non-Option Awards
Outstanding shares beginning of period (in shares)	820
Awards granted (in shares)	200
Awards exercised/vested (in shares)	(140)
Awards forfeited (in shares)	(20)
Outstanding shares end of period (in shares)	860

Stock-Based Compensation - Reco

Stock-Based Compensation - Recognized Stock-Based Compensation Expense (Details) - USD ($) $ in Millions	3 Months Ended
	Aug. 28, 2022	Aug. 29, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 20.3	$ 27.6
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	2.6	3.4
Restricted stock/restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	2.8	3.8
Equity-settled performance stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	5.6	8.1
Cash-settled Darden stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	8.2	11.3
Employee stock purchase plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	0.7	0.7
Director compensation program/other
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 0.4	$ 0.3

Derivative Instruments and He_3

Derivative Instruments and Hedging Activities - Notional and Fair Values of Derivative Contracts Designated and Not Designated as Hedging Instruments (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Aug. 28, 2022	May 29, 2022
Derivatives, Fair Value [Line Items]
Derivative assets	$ 3.1	$ 0.6
Derivative liabilities	39.8	28.3
Equity forwards:
Derivatives, Fair Value [Line Items]
Derivative assets	0	0
Derivative liabilities	$ 5.6	0.3
Equity forwards: | 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)	$ 125.13
Notional Values	$ 44.4
Derivative assets	0	0
Derivative liabilities	$ 2.6	0.1
Equity forwards: | 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)	$ 125.28
Notional Values	$ 52.8
Derivative assets	0	0
Derivative liabilities	3	0.2
Commodity contracts
Derivatives, Fair Value [Line Items]
Derivative assets	3.1	0.6
Derivative liabilities	0	0
Commodity contracts | Designated as Hedging Instruments
Derivatives, Fair Value [Line Items]
Notional Values	9.1
Derivative assets	3.1	0.6
Derivative liabilities	0	0
Commodity contracts | Not Designated as Hedging Instruments
Derivatives, Fair Value [Line Items]
Notional Values	0
Derivative assets	0	0
Derivative liabilities	0	0
Interest rate contracts
Derivatives, Fair Value [Line Items]
Derivative assets	0	0
Derivative liabilities	34.2	28
Interest rate contracts | Designated as Hedging Instruments
Derivatives, Fair Value [Line Items]
Notional Values	300
Derivative assets	0	0
Derivative liabilities	34.2	28
Interest rate contracts | Not Designated as Hedging Instruments
Derivatives, Fair Value [Line Items]
Derivative assets	0	0
Derivative liabilities	$ 0	$ 0

Derivative Instruments and He_4

Derivative Instruments and Hedging Activities - Effects of Derivative Instruments in Cash Flow Hedging Relationships (Details) - USD ($) $ in Millions	3 Months Ended
	Aug. 28, 2022	Aug. 29, 2021
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in AOCI	$ 2.1	$ 2.6
Amount of Gain (Loss) Reclassified from AOCI to Earnings	(0.7)	0.8
Equity forwards: | Cost of sales and selling general and administrative expense
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in AOCI	(0.5)	2.7
Amount of Gain (Loss) Reclassified from AOCI to Earnings	(0.8)	0.8
Commodity contracts | Food and beverage costs and restaurant expenses
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in AOCI	2.6	(0.1)
Amount of Gain (Loss) Reclassified from AOCI to Earnings	$ 0.1	$ 0

Derivative Instruments and He_5

Derivative Instruments and Hedging Activities - Effects of Derivative Instruments in Fair Value Hedging Relationships (Details) - Interest rate contracts - Interest, Net - USD ($) $ in Millions	3 Months Ended
	Aug. 28, 2022	Aug. 29, 2021
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Earnings on Derivatives	$ (6.3)	$ 6.7
Amount of Gain (Loss) Recognized in Earnings on Related Hedged Item	$ 6.3	$ (6.7)

Derivative Instruments and He_6

Derivative Instruments and Hedging Activities - Effects of Derivatives Not Designated as Hedging Instruments (Details) - USD ($) $ in Millions	3 Months Ended
	Aug. 28, 2022	Aug. 29, 2021
Derivative [Line Items]
Amount of Gain (Loss) Recognized in Earnings	$ (1.1)	$ 5.2
Food and beverage costs and restaurant expenses
Derivative [Line Items]
Amount of Gain (Loss) Recognized in Earnings	0	0.1
General and administrative expenses
Derivative [Line Items]
Amount of Gain (Loss) Recognized in Earnings	$ (1.1)	$ 5.1

Derivative Instruments and He_7

Derivative Instruments and Hedging Activities - Narrative (Details) $ in Millions	3 Months Ended
	Aug. 28, 2022 USD ($)
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Cash flow hedge gain to be reclassified within twelve months	$ 3.3

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Financial Instruments Measured at Fair Value on Recurring Basis (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Millions	Aug. 28, 2022	May 29, 2022
Fair Value Assets and Liabilities Measured On Recurring Basis [Line Items]
Total	$ (36.7)	$ (27.7)
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
Significant other observable inputs (Level 2)
Fair Value Assets and Liabilities Measured On Recurring Basis [Line Items]
Total	(36.7)	(27.7)
Significant unobservable inputs (Level 3)
Fair Value Assets and Liabilities Measured On Recurring Basis [Line Items]
Total	0	0
Commodities futures, swaps & options
Fair Value Assets and Liabilities Measured On Recurring Basis [Line Items]
Derivatives	3.1	0.6
Commodities futures, swaps & options | Quoted prices in active market for identical assets (liabilities) (Level 1)
Fair Value Assets and Liabilities Measured On Recurring Basis [Line Items]
Derivatives	0	0
Commodities futures, swaps & options | Significant other observable inputs (Level 2)
Fair Value Assets and Liabilities Measured On Recurring Basis [Line Items]
Derivatives	3.1	0.6
Commodities futures, swaps & options | Significant unobservable inputs (Level 3)
Fair Value Assets and Liabilities Measured On Recurring Basis [Line Items]
Derivatives	0	0
Equity forwards
Fair Value Assets and Liabilities Measured On Recurring Basis [Line Items]
Derivatives	(5.6)	(0.3)
Equity forwards | Quoted prices in active market for identical assets (liabilities) (Level 1)
Fair Value Assets and Liabilities Measured On Recurring Basis [Line Items]
Derivatives	0	0
Equity forwards | Significant other observable inputs (Level 2)
Fair Value Assets and Liabilities Measured On Recurring Basis [Line Items]
Derivatives	(5.6)	(0.3)
Equity forwards | Significant unobservable inputs (Level 3)
Fair Value Assets and Liabilities Measured On Recurring Basis [Line Items]
Derivatives	0	0
Interest rate swaps
Fair Value Assets and Liabilities Measured On Recurring Basis [Line Items]
Derivatives	(34.2)	(28)
Interest rate swaps | Quoted prices in active market for identical assets (liabilities) (Level 1)
Fair Value Assets and Liabilities Measured On Recurring Basis [Line Items]
Derivatives	0	0
Interest rate swaps | Significant other observable inputs (Level 2)
Fair Value Assets and Liabilities Measured On Recurring Basis [Line Items]
Derivatives	(34.2)	(28)
Interest rate swaps | Significant unobservable inputs (Level 3)
Fair Value Assets and Liabilities Measured On Recurring Basis [Line Items]
Derivatives	$ 0	$ 0

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) $ in Millions	3 Months Ended		12 Months Ended
	Aug. 28, 2022 USD ($)	Aug. 29, 2021 USD ($)	May 29, 2022 USD ($) restaurant
Impaired Long-Lived Assets Held and Used [Line Items]
Carrying value of long-term debt	$ 895.1		$ 901
Fair value of long-term debt	872.7		896,900
Carrying amount of long-lived assets held and used	3,485.8		3,356
Asset impairment	$ 0	$ 0
Underperforming Restaurants
Impaired Long-Lived Assets Held and Used [Line Items]
Asset impairment			4
Significant unobservable inputs (Level 3) | Underperforming Restaurants
Impaired Long-Lived Assets Held and Used [Line Items]
Carrying amount of long-lived assets held and used			$ 4.9
Number of underperforming restaurants | restaurant			1
Assets held-for-sale, long-lived, fair value			$ 0.9

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Millions	Aug. 28, 2022	May 29, 2022
Workers Compensation and General Liabilities Accrued
Loss Contingencies [Line Items]
Standby letters of credit	$ 85.4	$ 104.8
Surety Bonds and Other Payments
Loss Contingencies [Line Items]
Standby letters of credit	18.7	18.8
Property Lease Guarantee
Loss Contingencies [Line Items]
Loss contingency, estimate of possible loss	94.1	101
Fair value of potential payments discounted at pre-tax cost of capital related to guarantee obligations	$ 78.1	$ 83.6

Subsequent Events (Details)

Subsequent Events (Details) - $ / shares		3 Months Ended
	Sep. 20, 2022	Aug. 28, 2022	Aug. 29, 2021
Subsequent Event [Line Items]
Dividends declared (in dollars per share)		$ 1.21	$ 1.10
Subsequent Event
Subsequent Event [Line Items]
Dividends declared (in dollars per share)	$ 1.21