IMPAIRMENTS AND DISPOSAL OF ASSETS, NET |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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May 31, 2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| 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:
Restaurant impairments for fiscal 2026 were primarily related to the expected closures of restaurants and conversions of certain Bahama Breeze restaurants to other Darden brands. Restaurant impairments and disposal losses for fiscal 2025 were primarily related to the decision to close twenty-two restaurant locations due to underperformance. Restaurant impairments and disposal losses for fiscal 2024 were related to the decision to close nine restaurant locations and the write-off of acquired Ruth’s Chris assets. Disposal (gains) losses for fiscal 2026 were primarily related to the sale of the assets of the Olive Garden Canada Restaurants and certain liabilities related thereto. Other impacts for fiscal 2026, 2025, and 2024 were primarily related to the right-of-use asset adjustments on early lease terminations and write-off of inventory from closed restaurant locations. Impairment charges were measured based on the amount by which the carrying amount of these assets exceeded their fair value. Fair value is generally determined based on appraisals or sales prices of comparable assets and estimates of discounted future cash flows (see Note 9). These amounts are included in impairments and disposal of assets, net as a component of earnings from continuing operations in the accompanying consolidated statements of earnings.
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