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Revenue Recognition (Tables) | 6 Months Ended
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Nov. 24, 2024
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 was comprised of the following:
(in millions) |  | November 24, 2024 |  | May 26, 2024
Unearned revenues |  |  |  |
Deferred gift card revenue |  | $ | 576.9 |  |  | $ | 620.6 |
Deferred gift card discounts |  | (25.5) |  |  | (29.5) |
Other |  | 0.6 |  |  | 0.7 |
Total |  | $ | 552.0 |  |  | $ | 591.8 |
Other liabilities |  |  |  |
Deferred franchise fees - non-current |  | $ | 4.9 |  |  | $ | 4.9 |
The following table presents a rollforward of deferred gift card revenue.
|  | Three Months Ended |  | Six Months Ended
(in millions) |  | November 24, 2024 |  | November 26, 2023 |  | November 24, 2024 |  | November 26, 2023
Beginning balance |  | $ | 579.5 |  |  | $ | 563.4 |  |  | $ | 620.6 |  |  | $ | 537.0 |
Acquired deferred gift card revenue |  | 2.6 |  |  | — |  |  | 2.6 |  |  | 61.8 |
Activations |  | 131.0 |  |  | 145.7 |  |  | 253.4 |  |  | 275.8 |
Redemptions and breakage |  | (136.2) |  |  | (128.4) |  |  | (299.7) |  |  | (293.9) |
Ending balance |  | $ | 576.9 |  |  | $ | 580.7 |  |  | $ | 576.9 |  |  | $ | 580.7 |

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- Definition Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 + Details
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- References No definition available. + Details
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