DARDEN RESTAURANTS INC Revenue Disclosure
| (in millions) | May 25, 2025 | May 26, 2024 | ||||||||||||
| Unearned revenues | ||||||||||||||
| Deferred gift card revenue | $ | 628.8 | $ | 620.6 | ||||||||||
| Deferred gift card discounts | (30.1) | (29.5) | ||||||||||||
| Other | 0.7 | 0.7 | ||||||||||||
| Total | $ | 599.4 | $ | 591.8 | ||||||||||
| Other liabilities | ||||||||||||||
| Deferred franchise fees - non-current | $ | 5.3 | $ | 4.9 | ||||||||||
| Fiscal Year Ended | ||||||||||||||
| (in millions) | May 25, 2025 | May 26, 2024 | ||||||||||||
| Beginning balance | $ | 620.6 | $ | 537.0 | ||||||||||
| Acquired deferred gift card revenue | 2.6 | 61.8 | ||||||||||||
| Activations | 737.0 | 753.7 | ||||||||||||
| Redemptions and breakage | (731.4) | (731.9) | ||||||||||||
| Ending balance | $ | 628.8 | $ | 620.6 | ||||||||||
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Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Jul 18, 2025 | Showing above |
| 2024 | Jul 19, 2024 | |
| 2023 | Jul 21, 2023 | |
| 2022 | Jul 22, 2022 | |
| 2021 | Jul 23, 2021 | |
| 2020 | Jul 24, 2020 | |
| 2019 | Jul 19, 2019 | |
About Revenue Disclosures
Revenue disclosures under ASC 606 explain how a company identifies performance obligations, allocates transaction prices, and determines when revenue is recognized. This section is essential for understanding whether reported revenue reflects genuine economic activity or aggressive accounting choices. Analysts examine the mix of point-in-time versus over-time recognition, which directly affects revenue timing and comparability.
Key signals: rising contract liabilities (deferred revenue) suggest strong future revenue visibility, while declining contract assets may indicate slowing project milestones. Watch for variable consideration estimates — rebates, returns, and performance bonuses that require management judgment. Significant changes in disaggregated revenue by geography or product line can reveal shifting business mix before it appears in headline numbers. Compare revenue growth against contract liability growth to assess sustainability, and scrutinize any changes in the timing of recognition that coincide with earnings pressure.