Preferred stock, authorized (in shares)

  
DARDEN RESTAURANTS, INC.CONSOLIDATED BALANCE SHEETS(In millions)  

|  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |
|  | May 29, 2022 |  | May 30, 2021 |
| ASSETS |  |  |  |
| Current assets: |  |  |  |
| Cash and cash equivalents | $ | 420.6  |  |  | $ | 1,214.7  |  |
| Receivables, net | 72.0  |  |  | 68.2  |  |
| Inventories | 270.6  |  |  | 190.8  |  |
| Prepaid income taxes | 274.8  |  |  | 337.2  |  |
| Prepaid expenses and other current assets | 141.4  |  |  | 60.2  |  |
|  |  |  |  |
| Total current assets | $ | 1,179.4  |  |  | $ | 1,871.1  |  |
| Land, buildings and equipment, net | 3,356.0  |  |  | 2,869.2  |  |
| Operating lease right-of-use assets | 3,465.1  |  |  | 3,776.4  |  |
| Goodwill | 1,037.4  |  |  | 1,037.4  |  |
| Trademarks | 806.3  |  |  | 806.3  |  |
| Other assets | 291.6  |  |  | 295.7  |  |
| Total assets | $ | 10,135.8  |  |  | $ | 10,656.1  |  |
|  |  |  |  |
| LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |
| Current liabilities: |  |  |  |
| Accounts payable | $ | 366.9  |  |  | $ | 304.5  |  |
|  |  |  |  |
| Accrued payroll | 181.5  |  |  | 177.4  |  |
| Accrued income taxes | 32.1  |  |  | 35.9  |  |
| Other accrued taxes | 64.5  |  |  | 60.5  |  |
| Unearned revenues | 498.0  |  |  | 474.2  |  |
|  |  |  |  |
| Other current liabilities | 704.5  |  |  | 795.8  |  |
|  |  |  |  |
| Total current liabilities | $ | 1,847.5  |  |  | $ | 1,848.3  |  |
| Long-term debt | 901.0  |  |  | 929.8  |  |
| Deferred income taxes | 201.1  |  |  | 221.6  |  |
| Operating lease liabilities - non-current | 3,755.8  |  |  | 4,088.5  |  |
|  |  |  |  |
| Other liabilities | 1,232.2  |  |  | 754.8  |  |
| Total liabilities | $ | 7,937.6  |  |  | $ | 7,843.0  |  |
| Stockholders’ equity: |  |  |  |
| Common stock and surplus, no par value. Authorized 500.0 shares; issued 123.9 and 130.8 shares, respectively; outstanding 123.9 and 130.8 shares, respectively | 2,226.0  |  |  | 2,286.6  |  |
| Preferred stock, no par value. Authorized 25.0 shares; none issued and outstanding | —  |  |  | —  |  |
| Retained earnings (deficit) | (25.9) |  |  | 522.3  |  |
| Accumulated other comprehensive income (loss) | (1.9) |  |  | 4.2  |  |
|  |  |  |  |
| Total stockholders’ equity | $ | 2,198.2  |  |  | $ | 2,813.1  |  |
| Total liabilities and stockholders’ equity | $ | 10,135.8  |  |  | $ | 10,656.1  |  |

  
See accompanying notes to consolidated financial statements. 45
