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Segment Information | 3 Months Ended
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Aug. 24, 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, Yard House, Chuy’s, 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. 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 2025 figures were recast for comparability. The following tables reconcile our segment results to our consolidated results reported in accordance with GAAP.
(in millions) |  | Olive Garden 1 |  | LongHorn Steakhouse |  | Fine Dining |  | Other Business |  | Corporate |  | Consolidated
For the three months ended August 24, 2025 |
Sales |  | $ | 1,301.1 |  |  | $ | 776.4 |  |  | $ | 286.5 |  |  | $ | 680.7 |  |  | $ | — |  |  | $ | 3,044.7 |
Food and beverage |  | 309.9 |  |  | 328.6 |  |  | 92.5 |  |  | 198.1 |  |  | — |  |  | $ | 929.1 |
Restaurant labor |  | 464.1 |  |  | 204.3 |  |  | 88.5 |  |  | 231.1 |  |  | — |  |  | $ | 988.0 |
Restaurant expenses |  | 222.7 |  |  | 105.3 |  |  | 64.6 |  |  | 135.4 |  |  | (23.8) |  |  | $ | 504.2 |
Marketing |  | 36.8 |  |  | 3.3 |  |  | 2.2 |  |  | 6.8 |  |  | — |  |  | 49.1 |
Segment profit |  | $ | 267.6 |  |  | $ | 134.9 |  |  | $ | 38.7 |  |  | $ | 109.3 |  |  | $ | 23.8 |  |  | $ | 574.3 |
Depreciation and amortization |  | $ | 48.3 |  |  | $ | 22.7 |  |  | $ | 17.3 |  |  | $ | 31.3 |  |  | $ | 15.5 |  |  | $ | 135.1 |
Impairments and (gain) loss on disposal of assets, net |  | (42.0) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (42.0) |
Pre-opening costs |  | 1.5 |  |  | 1.1 |  |  | 1.3 |  |  | 1.0 |  |  | 1.0 |  |  | 5.9 |
Purchases of land, buildings and equipment |  | 63.2 |  |  | 48.9 |  |  | 22.0 |  |  | 39.5 |  |  | 0.5 |  |  | 174.1 |
(in millions) |  | Olive Garden 1 |  | LongHorn Steakhouse |  | Fine Dining |  | Other Business |  | Corporate |  | Consolidated
For the three months ended August 25, 2024 |
Sales |  | $ | 1,209.1 |  |  | $ | 713.5 |  |  | $ | 278.9 |  |  | $ | 555.5 |  |  | $ | — |  |  | $ | 2,757.0 |
Food and beverage |  | 291.5 |  |  | 298.2 |  |  | 90.5 |  |  | 166.5 |  |  | — |  |  | 846.7 |
Restaurant labor |  | 429.6 |  |  | 185.6 |  |  | 84.2 |  |  | 189.9 |  |  | — |  |  | 889.3 |
Restaurant expenses |  | 203.4 |  |  | 97.9 |  |  | 63.2 |  |  | 110.1 |  |  | (20.9) |  |  | 453.7 |
Marketing |  | 34.5 |  |  | 3.4 |  |  | 2.1 |  |  | 4.7 |  |  | — |  |  | 44.7 |
Segment profit |  | $ | 250.1 |  |  | $ | 128.4 |  |  | $ | 38.9 |  |  | $ | 84.3 |  |  | $ | 20.9 |  |  | $ | 522.6 |
Depreciation and amortization |  | $ | 45.3 |  |  | $ | 20.3 |  |  | $ | 16.8 |  |  | $ | 25.7 |  |  | $ | 13.4 |  |  | $ | 121.5 |
Impairments and (gain) loss on disposal of assets, net |  | — |  |  | — |  |  | — |  |  | — |  |  | 1.0 |  |  | 1.0 |
Pre-opening costs |  | 1.1 |  |  | 0.8 |  |  | 1.3 |  |  | 0.6 |  |  | 0.7 |  |  | 4.5 |
Purchases of land, buildings and equipment |  | 55.7 |  |  | 36.0 |  |  | 26.6 |  |  | 27.0 |  |  | (0.1) |  |  | 145.2 |
1 Segment results include sales from the eight Olive Garden Canada locations sold on July 14, 2025.
(in millions) |  | August 24, 2025 |  | May 25, 2025
Segment Assets |  |  |  |
Olive Garden |  | $ | 2,930.3 |  |  | $ | 2,880.5 |
LongHorn Steakhouse |  | 2,145.9 |  |  | 2,077.1 |
Fine Dining |  | 2,645.1 |  |  | 2,623.5 |
Other Business |  | 3,819.6 |  |  | 3,821.0 |
Corporate |  | 1,218.7 |  |  | 1,184.9 |
Consolidated |  | $ | 12,759.6 |  |  | $ | 12,587.0 |
A reconciliation of segment profit to earnings from continuing operations before income taxes is below.
|  |  |  | Three Months Ended
(in millions) |  |  |  |  |  | August 24, 2025 |  | August 25, 2024
Segment profit |  |  |  |  |  | $ | 574.3 |  |  | $ | 522.6 |
Less general and administrative expenses |  |  |  |  |  | (136.1) |  |  | (126.4) |
Less depreciation and amortization |  |  |  |  |  | (135.1) |  |  | (121.5) |
Less impairments and gain (loss) on disposal of assets, net |  |  |  |  |  | 42.0 |  |  | (1.0) |
Less pre-opening costs |  |  |  |  |  | (5.9) |  |  | (4.5) |
Less interest, net |  |  |  |  |  | (45.4) |  |  | (37.1) |
Earnings before income taxes |  |  |  |  |  | $ | 293.8 |  |  | $ | 232.1 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name 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