v3.26.1
Segment Information
 9 Months Ended
Feb. 22, 2026
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 the full-service dining segment. 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 (through the disposition date of all Olive Garden Canada Restaurants). 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 during the quarter and nine months ended February 22, 2026.
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), pre-opening costs 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 for the three and nine months ended February 23, 2025 were recast for comparability.
The following tables reconcile our segment results to our consolidated results reported in accordance with GAAP.
(in millions)Olive GardenLongHorn SteakhouseFine DiningOther BusinessCorporateConsolidated
For the three months ended February 22, 2026
Sales$1,393.0 $854.2 $402.0 $696.1 $— $3,345.3 
Food and beverage332.7 360.5 128.9 204.6 — 1,026.7 
Restaurant labor482.7 218.7 106.6 238.9 — 1,046.9 
Restaurant expenses230.7 113.2 75.3 136.8 (27.3)528.7 
Marketing26.9 2.8 2.7 7.0 — 39.4 
Segment profit$320.0 $159.0 $88.5 $108.8 $27.3 $703.6 
Depreciation and amortization$50.5 $24.6 $18.0 $31.4 $17.3 $141.8 
Impairments and (gain) loss on disposal of assets, net— — — — 25.1 25.1 
Pre-opening costs2.7 3.0 0.5 1.3 1.3 8.8 
(in millions)
Olive Garden1
LongHorn SteakhouseFine DiningOther BusinessCorporateConsolidated
For the nine months ended February 22, 2026
Sales$4,056.8 $2,406.5 $1,004.7 $2,024.1 $— $9,492.1 
Food and beverage971.3 1,026.7 326.3 595.2 — 2,919.5 
Restaurant labor1,423.2 626.7 288.6 696.5 — 3,035.0 
Restaurant expenses677.5 323.8 208.7 406.7 (75.5)1,541.2 
Marketing99.9 9.4 7.0 20.9 — 137.2 
Segment profit$884.9 $419.9 $174.1 $304.8 $75.5 $1,859.2 
Depreciation and amortization$148.2 $70.7 $53.0 $94.1 $48.8 $414.8 
Impairments and (gain) loss on disposal of assets, net— — — — (19.8)(19.8)
Pre-opening costs6.1 6.1 2.1 5.0 3.5 22.8 
Purchases of land, buildings and equipment188.3 149.8 71.0 131.8 — 540.9 
(in millions)
Olive Garden1
LongHorn SteakhouseFine DiningOther BusinessCorporateConsolidated
For the three months ended February 23, 2025
Sales$1,330.3 $768.1 $385.3 $674.3 $— $3,158.0 
Food and beverage320.0 315.0 122.4 196.2 — 953.6 
Restaurant labor464.1 198.7 101.1 231.1 — 995.0 
Restaurant expenses214.1 101.5 72.3 134.7 (21.6)501.0 
Marketing24.6 1.3 2.7 6.8 — 35.4 
Segment profit$307.5 $151.6 $86.8 $105.5 $21.6 $673.0 
Depreciation and amortization$46.9 $21.3 $17.6 $32.1 $14.0 $131.9 
Impairments and (gain) loss on disposal of assets, net— — — — 0.1 $0.1 
Pre-opening costs0.9 2.3 0.7 1.5 0.7 6.1 
(in millions)
Olive Garden1
LongHorn SteakhouseFine DiningOther BusinessCorporateConsolidated
For the nine months ended February 23, 2025
Sales$3,831.9 $2,191.7 $970.2 $1,811.2 $— $8,805.0 
Food and beverage926.8 902.3 309.1 534.9 — 2,673.1 
Restaurant labor1,346.4 570.1 272.7 621.9 — 2,811.1 
Restaurant expenses626.2 297.3 201.8 365.6 (64.0)1,426.9 
Marketing97.1 7.1 7.0 17.7 — 128.9 
Segment profit$835.4 $414.9 $179.6 $271.1 $64.0 $1,765.0 
Depreciation and amortization$138.4 $62.2 $51.8 $87.1 $41.6 $381.1 
Impairments and (gain) loss on disposal of assets, net— — — — 1.1 1.1 
Pre-opening costs2.7 3.8 3.2 4.2 2.2 16.1 
Purchases of land, buildings and equipment187.4 109.2 73.3 102.7 — 472.6 
1 Segment results include sales from the Olive Garden Canada Restaurants sold on July 14, 2025.
(in millions)February 22, 2026May 25, 2025
Segment Assets
Olive Garden$2,920.5 $2,880.5 
LongHorn Steakhouse2,206.1 2,077.1 
Fine Dining2,661.6 2,623.5 
Other Business3,809.9 3,821.0 
Corporate1,290.7 1,184.9 
Consolidated$12,888.8 $12,587.0 
A reconciliation of segment profit to earnings from continuing operations before income taxes is below.
Three Months EndedNine Months Ended
(in millions)February 22, 2026February 23, 2025February 22, 2026February 23, 2025
Segment profit$703.6 $673.0 $1,859.2 $1,765.0 
Less pre-opening costs(8.8)(6.1)(22.8)(16.1)
Less general and administrative expenses(121.5)(116.7)(375.4)(387.2)
Less depreciation and amortization(141.8)(131.9)(414.8)(381.1)
Less impairments and gain (loss) on disposal of assets, net(25.1)(0.1)19.8 (1.1)
Less interest, net(49.6)(45.5)(143.0)(128.8)
Earnings before income taxes$356.8 $372.7 $923.0 $850.7