DARDEN RESTAURANTS INC DRI Income Statement

Darden restaurants inc (DRI)

Income statement / Quarterly

Feb'20	Nov'19	Aug'19	May'19	Feb'19	Nov'18	Aug'18	May'18	Feb'18	Nov'17	Aug'17	May'17	Feb'17	Nov'16	Aug'16	May'16	Feb'16	Nov'15	Aug'15	May'15	Feb'15	Nov'14	Aug'14	May'14	Feb'14	Nov'13	Aug'13	May'13	Feb'13	Nov'12	Aug'12	May'12	Feb'12	Nov'11	Aug'11	May'11	Feb'11	Nov'10	Aug'10	May'10	Feb'10	Nov'09	Aug'09	Feb'09
Sales
2,346	2,056	2,133	2,229	2,246	1,973	2,061	2,134	2,128	1,881	1,936	1,934	1,878	1,642	1,714	1,790	1,847	1,608	1,687	1,878	1,730	1,559	1,595	1,650	1,618	1,485	1,531	-332	2,258	1,960	2,034	-606	2,159	1,831	1,942	1,990	1,976	1,726	1,806	1,863	1,874	1,641	1,734	1,798
Costs and expenses:
Food and beverage costs and restaurant expenses
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,265	1,200	1,208	-	1,752	1,568	1,549	-506	1,627	1,460	1,506	1,514	1,478	1,341	1,365	1,425	1,430	1,292	1,335	1,394
Restaurant labor
753	692	703	718	711	662	679	684	683	622	624	603	578	538	545	556	572	523	536	584	535	506	508	525	508	491	491	-78	709	635	626	-180	657	594	613	625	621	571	578	605	613	563	568	569
Marketing expenses
71	66	68	68	62	58	66	69	58	58	66	64	54	57	63	63	50	58	65	65	51	61	64	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
General and administrative expenses
100	91	98	103	102	95	104	102	110	98	98	133	87	79	87	90	95	101	97	119	86	128	95	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Selling, general and administrative
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	154	174	165	-	199	216	218	-28	198	187	182	187	194	180	180	179	169	169	171	159
Depreciation and amortization
87	87	86	87	85	82	80	79	79	78	76	70	67	67	66	66	67	75	81	80	79	80	78	78	76	75	74	-14	101	99	92	-17	88	85	84	81	80	78	76	76	78	73	72	71
Asset Impairment Charges And Disposal Group, Not Discontinued Operation, Loss (Gain) On Disposal
-0	-0	0	23	-1	-2	-0	2	0	0	0	-16	0	-0	7	9	2	-7	1	15	0	39	7	15	0	0	1	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total operating costs and expenses
2,068	1,896	1,932	1,999	1,981	1,825	1,872	1,904	1,895	1,752	1,761	1,764	1,649	1,526	1,553	1,605	1,626	1,527	1,552	1,727	1,560	1,579	1,528	1,481	1,529	1,483	1,481	-369	2,085	1,916	1,888	-523	1,941	1,759	1,795	1,804	1,777	1,623	1,647	1,706	1,698	1,560	1,603	1,650
Operating income
278	160	201	229	265	148	189	230	233	128	174	170	229	116	161	185	221	81	134	150	170	-20	67	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest, net
-13	-13	-11	-11	-12	-12	-13	-13	-117	-15	-15	-11	-9	-9	-9	-9	-83	-57	-22	-24	-23	-33	-111	-35	-33	-32	-32	-33	-31	-32	-27	-27	-27	-25	-21	-21	-24	-23	-24	-24	-20	-24	-23	-25
Other (income) expense, net
0	-153	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Earnings (loss) before income taxes
265	-6	190	217	253	135	176	216	116	113	159	158	220	107	151	175	138	24	111	126	147	-54	-43	33	89	1	49	-88	173	43	146	-82	217	72	147	186	199	103	159	157	175	80	130	148
Income tax expense
31	-31	18	9	28	19	7	41	-102	24	38	33	53	27	40	35	29	-5	30	8	18	-23	-24	-14	2	-4	7	-46	38	9	35	-36	53	18	40	48	47	27	45	41	40	19	35	40
Earnings from continuing operations
233	25	171	208	225	115	168	175	218	88	121	125	166	79	111	140	108	30	81	118	128	-30	-19	48	86	6	42	-41	134	33	111	-45	164	54	106	137	151	75	113	116	134	61	95	108
Losses from discontinued operations, net of tax benefit of $0.7, $0.8, $1.6 and $1.3, respectively
-1	-0	-1	-0	-1	-0	-2	-0	-0	-3	-2	-1	-0	-0	-0	-0	-2	13	5	-12	5	-2	522	38	23	13	28	175	-0	-0	-0	196	0	-0	-0	-0	-0	-1	-0	-0	-0	-0	-0	-0
Net earnings
232	24	170	208	223	115	166	174	217	84	119	123	165	79	110	139	105	43	86	105	133	-32	503	86	109	19	70	133	134	33	110	151	164	53	106	137	151	74	113	115	134	60	94	107
Basic net earnings per share:
Earnings from continuing operations (in dollars per share)
1.92	0.21	1.40	1.69	1.83	0.94	1.36	1.41	1.77	0.72	0.97	1.00	1.34	0.65	0.89	1.10	0.85	0.23	0.64	0.89	1.03	-0.24	-0.14	0.37	0.66	0.05	0.32	-0.33	1.04	0.26	0.87	-0.35	1.28	0.42	0.80	1.02	1.11	0.55	0.82	0.83	0.97	0.44	0.68	0.79
Losses from discontinued operations (in dollars per share)
0.00	-0.01	-0.01	0.01	-0.02	-0.01	-0.02	0.00	-0.01	-0.03	-0.02	-0.01	-0.01	0.00	-0.01	-0.01	-0.02	0.11	0.04	0.05	0.04	-0.02	3.95	0.28	0.18	0.10	0.22	1.36	0.00	0.00	-0.01	1.51	0.00	-0.01	0.00	-0.01	0.00	-0.01	0.00	0.00	-0.01	-0.01	0.00	0.00
Net earnings (in dollars per share)
1.92	0.20	1.39	1.70	1.81	0.93	1.34	1.41	1.76	0.69	0.95	0.99	1.33	0.65	0.88	1.09	0.83	0.34	0.68	0.94	1.07	-0.26	3.81	0.65	0.84	0.15	0.54	1.03	1.04	0.26	0.86	1.16	1.28	0.41	0.80	1.01	1.11	0.54	0.82	0.83	0.96	0.43	0.68	0.79
Diluted net earnings per share:
Earnings from continuing operations (in dollars per share)
1.90	0.21	1.38	1.67	1.80	0.92	1.34	1.39	1.74	0.71	0.95	0.99	1.32	0.64	0.88	1.08	0.84	0.23	0.63	0.88	1.01	-0.24	-0.14	0.36	0.65	0.05	0.32	-0.33	1.02	0.26	0.85	-0.34	1.25	0.41	0.78	0.99	1.08	0.54	0.80	0.81	0.95	0.43	0.67	0.78
Losses from discontinued operations (in dollars per share)
-0.01	-0.01	-0.01	-0.01	-0.01	0.00	-0.02	0.01	-0.01	-0.04	-0.02	-0.02	0.00	0.00	-0.01	0.00	-0.02	0.10	0.04	-0.01	0.04	-0.02	3.95	0.29	0.17	0.10	0.21	1.33	0.00	0.00	0.00	1.48	0.00	-0.01	0.00	-0.01	0.00	-0.01	0.00	-0.01	-0.01	0.00	0.00	0.00
Net earnings (in dollars per share)
1.89	0.20	1.37	1.66	1.79	0.92	1.32	1.40	1.73	0.67	0.93	0.97	1.32	0.64	0.87	1.08	0.82	0.33	0.67	0.87	1.05	-0.26	3.81	0.65	0.82	0.15	0.53	1.00	1.02	0.26	0.85	1.14	1.25	0.40	0.78	0.98	1.08	0.53	0.80	0.80	0.94	0.43	0.67	0.78
Average number of common shares outstanding:
Basic (in shares)
121	122	122	123	123	123	123	123	123	123	125	125	124	123	124	126	127	128	127	126	124	127	132	131	131	130	130	129	129	128	128	128	128	130	133	134	136	137	138	140	139	139	138	136
Diluted (in shares)
122	123	124	125	125	125	125	125	125	125	127	126	125	124	126	128	129	129	129	132	126	127	132	134	133	132	132	132	131	131	131	131	130	133	137	138	140	141	141	144	142	141	141	138
Dividends declared per common share (in dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	0.56	0.56	0.56	0.50	0.50	0.55	0.55	0.55	0.55	0.55	0.55	0.55	0.55	0.55	0.55	0.50	0.50	0.50	0.50	0.43	0.43	0.43	0.43	0.32	0.32	0.32	0.32	-	0.25	0.25	-	-
Food and beverage
Food and beverage costs and restaurant expenses
658	583	603	627	638	563	583	601	603	542	555	557	541	478	493	517	537	482	502	566	530	485	502	505	485	447	454	-177	695	607	618	-274	661	573	593	600	571	494	507	540	539	471	500	548
Restaurant expenses
Food and beverage costs and restaurant expenses
396	375	372	379	379	361	357	361	360	351	342	335	320	305	303	308	305	278	271	295	276	277	272	284	271	261	262	2	348	325	304	-50	308	293	299	289	285	274	279	279	277	257	267	276