Darden Restaurants, Inc. (DRI) Financial Statements (2023 and earlier)
Company Profile
| Business Address |
1000 DARDEN CENTER DRIVE ORLANDO, FL 32837 |
| State of Incorp. | FL |
| Fiscal Year End | May 31 |
| Industry (SIC) | 5812 - Eating Places (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in millions)
| 5/31/2023 | 11/30/2022 MRQ | 5/31/2022 | 5/31/2021 | 5/31/2020 | 5/31/2019 | 5/31/2018 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 241 | 421 | 1,215 | 763 | 457 | 147 | |||
| Cash and cash equivalents | 241 | 421 | 1,215 | 763 | 457 | 147 | |||
| Receivables | 72 | 72 | 68 | 50 | 88 | 84 | |||
| Inventory, net of allowances, customer advances and progress billings | 296 | 271 | 191 | 207 | 207 | 205 | |||
| Inventory | 296 | 271 | 191 | 207 | 207 | 205 | |||
| Prepaid expense | 116 | 275 | 337 | 18 | 42 | 90 | |||
| Disposal group, including discontinued operation | 12 | ||||||||
| Other undisclosed current assets | 168 | 141 | 60 | 63 | 98 | 16 | |||
| Total current assets: | 892 | 1,179 | 1,871 | 1,101 | 893 | 554 | |||
| Noncurrent Assets | |||||||||
| Finance lease, right-of-use asset, after accumulated amortization | 893 | ✕ | ✕ | ||||||
| Operating lease, right-of-use asset | 3,435 | 3,465 | 3,776 | 3,969 | ✕ | ✕ | |||
| Property, plant and equipment | 2,518 | 2,464 | 2,757 | 2,553 | 2,430 | ||||
| Intangible assets, net (including goodwill) | 1,844 | 1,844 | 1,844 | 1,843 | 2,135 | 2,135 | |||
| Goodwill | 1,037 | 1,037 | 1,037 | 1,037 | 1,184 | 1,184 | |||
| Intangible assets, net (excluding goodwill) | 806 | 806 | 806 | 806 | 951 | 951 | |||
| Other noncurrent assets | 296 | 292 | 296 | 275 | 313 | 352 | |||
| Other undisclosed noncurrent assets | 2,665 | 838 | 406 | ||||||
| Total noncurrent assets: | 9,133 | 8,956 | 8,785 | 8,845 | 5,000 | 4,916 | |||
| TOTAL ASSETS: | 10,025 | 10,136 | 10,656 | 9,946 | 5,893 | 5,470 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 660 | 923 | 578 | 449 | 574 | 575 | |||
| Interest and dividends payable | ✕ | ✕ | 8 | ||||||
| Taxes payable | ✕ | ✕ | 97 | 96 | 50 | 66 | 73 | ||
| Employee-related liabilities | ✕ | ✕ | 182 | 177 | 150 | 175 | 178 | ||
| Accounts payable | 435 | 367 | 305 | 249 | 333 | 277 | |||
| Accrued liabilities | 224 | 278 | 40 | ||||||
| Deferred revenue | 474 | 468 | ✕ | ✕ | |||||
| Debt | 76 | 17 | 270 | 4 | |||||
| Deferred compensation liability | 228 | ||||||||
| Contract with customer, liability | ✕ | ✕ | ✕ | ✕ | ✕ | 429 | ✕ | ||
| Other liabilities | 725 | 705 | 796 | 606 | 472 | 458 | |||
| Other undisclosed current liabilities | 446 | 203 | 120 | ||||||
| Total current liabilities: | 1,906 | 1,848 | 1,848 | 1,793 | 1,474 | 1,385 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 886 | 4,657 | 5,018 | 5,205 | 1,008 | 927 | |||
| Long-term debt, excluding current maturities | 886 | 901 | 930 | 929 | 928 | 927 | |||
| Capital lease obligations | ✕ | ✕ | ✕ | ✕ | ✕ | 80 | |||
| Liabilities, other than long-term debt | 5,212 | 1,433 | 976 | 617 | 591 | 964 | |||
| Contract with customer, liability | ✕ | ✕ | ✕ | ✕ | ✕ | 4 | ✕ | ||
| Deferred rent credit | 318 | ||||||||
| Deferred tax liabilities, net | ✕ | ✕ | ✕ | ✕ | ✕ | 114 | |||
| Deferred income tax liabilities | 178 | 201 | 222 | 56 | ✕ | ✕ | |||
| Other liabilities | 1,304 | 1,232 | 755 | 561 | 587 | 532 | |||
| Operating lease, liability | 3,731 | 3,756 | 4,089 | 4,276 | ✕ | ✕ | |||
| Other undisclosed noncurrent liabilities | 428 | ||||||||
| Total noncurrent liabilities: | 6,098 | 6,090 | 5,995 | 5,822 | 2,026 | 1,890 | |||
| Total liabilities: | 8,004 | 7,938 | 7,843 | 7,615 | 3,500 | 3,275 | |||
| Equity | |||||||||
| Equity, attributable to parent, including: | 2,021 | 2,198 | 2,813 | 2,331 | 2,393 | 2,195 | |||
| Treasury stock, value | (8) | ||||||||
| Deferred compensation equity | (1) | (2) | |||||||
| Accumulated other comprehensive income (loss) | 6 | (2) | 4 | (18) | (98) | (85) | |||
| Retained earnings (accumulated deficit) | (200) | (26) | 522 | 144 | 807 | 658 | |||
| Other undisclosed equity, attributable to parent | 2,215 | 2,226 | 2,287 | 2,205 | 1,685 | 1,632 | |||
| Total equity: | 2,021 | 2,198 | 2,813 | 2,331 | 2,393 | 2,195 | |||
| TOTAL LIABILITIES AND EQUITY: | 10,025 | 10,136 | 10,656 | 9,946 | 5,893 | 5,470 | |||
Income Statement (P&L) ($ in millions)
| 5/31/2023 | 11/30/2022 TTM | 5/31/2022 | 5/31/2021 | 5/31/2020 | 5/31/2019 | 5/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 9,984 | 9,630 | 7,196 | 7,807 | 8,510 | 8,080 | ||
| Cost of revenue | (8,407) | (7,995) | (6,055) | (6,924) | (6,998) | (6,648) | ||
| Cost of goods and services sold | (3,230) | (3,109) | (2,286) | (2,683) | (2,771) | |||
| Other undisclosed gross profit | 250 | 266 | 261 | 288 | 81 | 61 | ||
| Gross profit: | 1,828 | 1,902 | 1,402 | 1,170 | 1,594 | 1,493 | ||
| Operating expenses | (462) | (473) | (493) | (835) | (680) | (666) | ||
| Other undisclosed operating income (loss) | 16 | (261) | (288) | (81) | (61) | |||
| Operating income: | 1,382 | 1,429 | 649 | 48 | 833 | 767 | ||
| Nonoperating income (expense) | 1 | (9) | (152) | |||||
| Other nonoperating expense | (0) | (9) | (152) | |||||
| Interest and debt expense | (41) | (48) | (49) | (44) | (152) | |||
| Other undisclosed loss from continuing operations before equity method investments, income taxes | (41) | (16) | (8) | (6) | (9) | |||
| Income (loss) from continuing operations before equity method investments, income taxes: | 1,342 | 1,388 | 577 | (161) | 782 | 606 | ||
| Other undisclosed loss from continuing operations before income taxes | (302) | (294) | ||||||
| Income (loss) from continuing operations before income taxes: | 1,040 | 1,094 | 577 | (161) | 782 | 606 | ||
| Income tax expense (benefit) | (130) | (139) | 56 | 112 | (64) | (2) | ||
| Income (loss) from continuing operations: | 911 | 955 | 632 | (49) | 719 | 604 | ||
| Income (loss) before gain (loss) on sale of properties: | ✕ | 722 | 953 | 629 | (52) | 713 | 596 | |
| Loss from discontinued operations | (2) | (2) | (3) | (3) | (5) | (8) | ||
| Net income (loss) available to common stockholders, diluted: | 909 | 953 | 629 | (52) | 713 | 596 | ||
Comprehensive Income ($ in millions)
| 5/31/2023 | 11/30/2022 TTM | 5/31/2022 | 5/31/2021 | 5/31/2020 | 5/31/2019 | 5/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | 909 | 953 | 629 | (52) | 713 | 596 | ||
| Other comprehensive income (loss) | (1) | (1) | (2) | (31) | 6 | (22) | ||
| Comprehensive income (loss): | 908 | 952 | 628 | (83) | 720 | 574 | ||
| Other undisclosed comprehensive income (loss), net of tax, attributable to parent | 6 | (5) | 23 | 111 | (19) | |||
| Comprehensive income, net of tax, attributable to parent: | 914 | 947 | 651 | 28 | 700 | 574 | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.