2024 Q2 Form 10-K Financial Statement

#000094094424000035 Filed on July 19, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 2023
Revenue $2.957B $11.39B $10.49B
YoY Change 6.8% 8.6% 8.91%
Cost Of Revenue $2.301B $8.980B $8.404B
YoY Change 6.19% 6.85% 10.08%
Gross Profit $656.7M $2.410B $2.083B
YoY Change 9.0% 15.69% 9.55%
Gross Profit Margin 22.21% 21.16% 19.86%
Selling, General & Admin $140.2M $623.7M $504.4M
YoY Change 8.6% 23.65% 8.15%
% of Gross Profit 21.35% 25.88% 24.21%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $119.7M $459.9M $387.8M
YoY Change 23.27% 18.59% 5.27%
% of Gross Profit 18.23% 19.08% 18.61%
Operating Expenses $259.9M $1.084B $892.2M
YoY Change 14.9% 21.45% 91.3%
Operating Profit $396.8M $1.327B $1.191B
YoY Change 5.45% 11.37% 2.5%
Interest Expense -$35.40M -$138.7M -$81.30M
YoY Change 60.18% 70.6% -298.78%
% of Operating Profit -8.92% -10.46% -6.83%
Other Income/Expense, Net $0.00
YoY Change
Pretax Income $360.0M $1.176B $1.121B
YoY Change 2.16% 4.91% 2.8%
Income Tax $50.00M $145.0M $137.0M
% Of Pretax Income 13.89% 12.34% 12.23%
Net Earnings $308.1M $1.028B $981.9M
YoY Change -2.22% 4.65% 3.05%
Net Earnings / Revenue 10.42% 9.02% 9.36%
Basic Earnings Per Share $8.57 $8.06
Diluted Earnings Per Share $2.58 $8.50 $8.00
COMMON SHARES
Basic Shares Outstanding 118.9M shares 119.9M shares 121.9M shares
Diluted Shares Outstanding 120.8M shares 122.9M shares

Balance Sheet

Concept 2024 Q2 2024 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $194.8M $194.8M $367.8M
YoY Change -47.04% -47.04% -12.55%
Cash & Equivalents $194.8M $194.8M $367.8M
Short-Term Investments
Other Short-Term Assets $258.4M $258.4M $261.8M
YoY Change -1.3% -1.3% -37.1%
Inventory $290.5M $290.5M $287.9M
Prepaid Expenses
Receivables $79.10M $79.10M $80.20M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $822.8M $822.8M $997.7M
YoY Change -17.53% -17.53% -15.41%
LONG-TERM ASSETS
Property, Plant & Equipment $7.614B $7.614B $7.099B
YoY Change 7.25% 7.25% 4.07%
Goodwill $1.391B
YoY Change 34.09%
Intangibles $1.148B
YoY Change 42.38%
Long-Term Investments
YoY Change
Other Assets $347.6M $347.6M $222.8M
YoY Change 15.44% 56.01% 1.83%
Total Long-Term Assets $10.50B $10.50B $9.244B
YoY Change 13.59% 13.59% 3.21%
TOTAL ASSETS
Total Short-Term Assets $822.8M $822.8M $997.7M
Total Long-Term Assets $10.50B $10.50B $9.244B
Total Assets $11.32B $11.32B $10.24B
YoY Change 10.56% 10.56% 1.04%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $399.5M $399.5M $426.2M
YoY Change -6.26% -6.26% 16.16%
Accrued Expenses $261.1M $261.1M $618.8M
YoY Change -38.04% -57.81% 2.55%
Deferred Revenue
YoY Change
Short-Term Debt $86.80M $86.80M $0.00
YoY Change
Long-Term Debt Due $15.30M $15.30M $13.50M
YoY Change 13.33% 13.33% -18.67%
Total Short-Term Liabilities $2.193B $2.193B $1.937B
YoY Change 13.17% 13.17% 4.87%
LONG-TERM LIABILITIES
Long-Term Debt $1.370B $1.370B $2.058B
YoY Change -33.39% -33.39% 7.18%
Other Long-Term Liabilities $5.286B $5.286B $3.903B
YoY Change 35.43% 35.43% -1.68%
Total Long-Term Liabilities $6.656B $6.656B $5.960B
YoY Change 11.67% 11.67% 1.21%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.193B $2.193B $1.937B
Total Long-Term Liabilities $6.656B $6.656B $5.960B
Total Liabilities $9.081B $9.081B $8.040B
YoY Change 12.94% 12.94% 1.29%
SHAREHOLDERS EQUITY
Retained Earnings -$35.50M
YoY Change 9.23%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.243B $2.243B $2.202B
YoY Change
Total Liabilities & Shareholders Equity $11.32B $11.32B $10.24B
YoY Change 10.56% 10.56% 1.04%

Cashflow Statement

Concept 2024 Q2 2024 2023
OPERATING ACTIVITIES
Net Income $308.1M $1.028B $981.9M
YoY Change -2.22% 4.65% 3.05%
Depreciation, Depletion And Amortization $119.7M $459.9M $387.8M
YoY Change 23.27% 18.59% 5.27%
Cash From Operating Activities $425.5M $1.612B $1.546B
YoY Change 3.63% 4.29% 23.05%
INVESTING ACTIVITIES
Capital Expenditures $147.1M $626.8M $594.3M
YoY Change -9.7% 5.47% 57.68%
Acquisitions $701.1M $0.00
YoY Change
Other Investing Activities -$1.500M -$697.8M $25.90M
YoY Change -137.5% -2794.21% -861.76%
Cash From Investing Activities -$148.6M -$1.325B -$568.4M
YoY Change -6.48% 133.04% 46.12%
FINANCING ACTIVITIES
Cash Dividend Paid $628.4M $589.8M
YoY Change 6.54% 4.76%
Common Stock Issuance & Retirement, Net -$90.70M -$410.3M -$423.3M
YoY Change 401.1% -3.07% -141.05%
Debt Paid & Issued, Net $600.0M $0.00
YoY Change
Cash From Financing Activities -324.9M -483.4M -1.033B
YoY Change 90.67% -53.21% -35.82%
NET CHANGE
Cash From Operating Activities 425.5M 1.612B 1.546B
Cash From Investing Activities -148.6M -1.325B -568.4M
Cash From Financing Activities -324.9M -483.4M -1.033B
Net Change In Cash -48.00M -196.1M -55.90M
YoY Change -159.04% 250.81% -92.47%
FREE CASH FLOW
Cash From Operating Activities $425.5M $1.612B $1.546B
Capital Expenditures $147.1M $626.8M $594.3M
Free Cash Flow $278.4M $985.1M $951.3M
YoY Change 12.39% 3.55% 8.2%

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CY2023Q2 us-gaap Finance Lease Liability Noncurrent Statement Of Financial Position Extensible List
FinanceLeaseLiabilityNoncurrentStatementOfFinancialPositionExtensibleList
http://fasb.org/us-gaap/2024#OtherLiabilitiesNoncurrent
CY2024 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--05-26
CY2024 dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
CY2024 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1175500000 usd
CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1120500000 usd
CY2024 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
145000000.0 usd
CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
137000000.0 usd
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
138800000 usd
CY2024 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
1030500000 usd
CY2023 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
983500000 usd
CY2022 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
954700000 usd
CY2024 us-gaap Discontinued Operation Tax Effect Of Discontinued Operation
DiscontinuedOperationTaxEffectOfDiscontinuedOperation
-1700000 usd
CY2023 us-gaap Discontinued Operation Tax Effect Of Discontinued Operation
DiscontinuedOperationTaxEffectOfDiscontinuedOperation
-800000 usd
CY2022 us-gaap Discontinued Operation Tax Effect Of Discontinued Operation
DiscontinuedOperationTaxEffectOfDiscontinuedOperation
-200000 usd
CY2024 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
-2900000 usd
CY2023 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
-1600000 usd
CY2022 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
-1900000 usd
CY2024 us-gaap Net Income Loss
NetIncomeLoss
1027600000 usd
CY2023 us-gaap Net Income Loss
NetIncomeLoss
981900000 usd
CY2022 us-gaap Net Income Loss
NetIncomeLoss
952800000 usd
CY2024 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
8.59
CY2023 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
8.07
CY2022 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
7.47
CY2024 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
-0.02
CY2023 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
-0.01
CY2022 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
-0.01
CY2024 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
8.57
CY2023 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
8.06
CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
7.46
CY2024 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
8.53
CY2023 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
8.00
CY2022 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
7.40
CY2024 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
-0.02
CY2023 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
-0.01
CY2022 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
-0.01
CY2024 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
8.51
CY2023 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
7.99
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
7.39
CY2024 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
119900000 shares
CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
121900000 shares
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
127800000 shares
CY2024 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
120800000 shares
CY2023 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
122900000 shares
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
129000000.0 shares
CY2024 us-gaap Net Income Loss
NetIncomeLoss
1027600000 usd
CY2023 us-gaap Net Income Loss
NetIncomeLoss
981900000 usd
CY2022 us-gaap Net Income Loss
NetIncomeLoss
952800000 usd
CY2024 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
100000 usd
CY2023 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-300000 usd
CY2022 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-400000 usd
CY2024 dri Other Comprehensive Income Loss Unrecognized Gain Loss On Derivatives Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossUnrecognizedGainLossOnDerivativesTaxPortionAttributableToParent
9400000 usd
CY2023 dri Other Comprehensive Income Loss Unrecognized Gain Loss On Derivatives Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossUnrecognizedGainLossOnDerivativesTaxPortionAttributableToParent
-1500000 usd
CY2022 dri Other Comprehensive Income Loss Unrecognized Gain Loss On Derivatives Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossUnrecognizedGainLossOnDerivativesTaxPortionAttributableToParent
200000 usd
CY2024 dri Other Comprehensive Income Loss Unrecognized Gain Loss On Derivatives Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossUnrecognizedGainLossOnDerivativesNetOfTaxPortionAttributableToParent
20600000 usd
CY2023 dri Other Comprehensive Income Loss Unrecognized Gain Loss On Derivatives Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossUnrecognizedGainLossOnDerivativesNetOfTaxPortionAttributableToParent
4300000 usd
CY2022 dri Other Comprehensive Income Loss Unrecognized Gain Loss On Derivatives Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossUnrecognizedGainLossOnDerivativesNetOfTaxPortionAttributableToParent
-8300000 usd
CY2024 us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Tax
OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodTax
600000 usd
CY2023 us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Tax
OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodTax
400000 usd
CY2022 us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Tax
OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodTax
900000 usd
CY2024 us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodNetOfTax
1700000 usd
CY2023 us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodNetOfTax
1100000 usd
CY2022 us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodNetOfTax
2600000 usd
CY2024 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
22400000 usd
CY2023 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
5100000 usd
CY2022 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-6100000 usd
CY2024 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
1050000000 usd
CY2023 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
987000000.0 usd
CY2022 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
946700000 usd
CY2024Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
194800000 usd
CY2024Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
194800000 usd
CY2023Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
367800000 usd
CY2024Q2 us-gaap Receivables Net Current
ReceivablesNetCurrent
79100000 usd
CY2023Q2 us-gaap Receivables Net Current
ReceivablesNetCurrent
80200000 usd
CY2024Q2 us-gaap Inventory Net
InventoryNet
290500000 usd
CY2023Q2 us-gaap Inventory Net
InventoryNet
287900000 usd
CY2024Q2 us-gaap Prepaid Taxes
PrepaidTaxes
121700000 usd
CY2023Q2 us-gaap Prepaid Taxes
PrepaidTaxes
107300000 usd
CY2024Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
136700000 usd
CY2023Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
154500000 usd
CY2024Q2 us-gaap Assets Current
AssetsCurrent
822800000 usd
CY2023Q2 us-gaap Assets Current
AssetsCurrent
997700000 usd
CY2024Q2 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
4184300000 usd
CY2023Q2 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
3725100000 usd
CY2024Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
3429300000 usd
CY2023Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
3373900000 usd
CY2024Q2 us-gaap Goodwill
Goodwill
1391000000 usd
CY2023Q2 us-gaap Goodwill
Goodwill
1037400000 usd
CY2024Q2 us-gaap Indefinite Lived Trademarks
IndefiniteLivedTrademarks
1148000000 usd
CY2023Q2 us-gaap Indefinite Lived Trademarks
IndefiniteLivedTrademarks
806300000 usd
CY2024Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
347600000 usd
CY2023Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
301100000 usd
CY2024Q2 us-gaap Assets
Assets
11323000000 usd
CY2023Q2 us-gaap Assets
Assets
10241500000 usd
CY2024Q2 us-gaap Accounts Payable Current
AccountsPayableCurrent
399500000 usd
CY2023Q2 us-gaap Accounts Payable Current
AccountsPayableCurrent
426200000 usd
CY2024Q2 us-gaap Short Term Borrowings
ShortTermBorrowings
86800000 usd
CY2023Q2 us-gaap Short Term Borrowings
ShortTermBorrowings
0 usd
CY2024Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
190100000 usd
CY2024Q2 us-gaap Accrual For Taxes Other Than Income Taxes Current
AccrualForTaxesOtherThanIncomeTaxesCurrent
71000000.0 usd
CY2024Q2 us-gaap Deferred Income Tax Liabilities Net
DeferredIncomeTaxLiabilitiesNet
232000000.0 usd
CY2024Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
500000000.0 shares
CY2023Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
500000000.0 shares
CY2024Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
118900000 shares
CY2023Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
121100000 shares
CY2024Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
118900000 shares
CY2023Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
121100000 shares
CY2024Q2 us-gaap Common Stocks Including Additional Paid In Capital
CommonStocksIncludingAdditionalPaidInCapital
2252400000 usd
CY2023Q2 us-gaap Common Stocks Including Additional Paid In Capital
CommonStocksIncludingAdditionalPaidInCapital
2230800000 usd
CY2024Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
25000000.0 shares
CY2023Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
25000000.0 shares
CY2024Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2023Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2024Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2023Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2024Q2 us-gaap Preferred Stock Value
PreferredStockValue
0 usd
CY2023Q2 us-gaap Preferred Stock Value
PreferredStockValue
0 usd
CY2024Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
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CY2023Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-32500000 usd
CY2024Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
25600000 usd
CY2023Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
3200000 usd
CY2024Q2 us-gaap Stockholders Equity
StockholdersEquity
2242500000 usd
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
2201500000 usd
CY2024Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
11323000000 usd
CY2023Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
10241500000 usd
CY2022 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-6100000 usd
CY2022 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
4.40
CY2022 us-gaap Dividends
Dividends
565400000 usd
CY2022 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
29700000 usd
CY2022 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
33600000 usd
CY2022 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
1071300000 usd
CY2022 dri Stock Issued During Period Value Espp And Other Plans
StockIssuedDuringPeriodValueESPPAndOtherPlans
10500000 usd
CY2022 us-gaap Stockholders Equity Other
StockholdersEquityOther
-1300000 usd
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
2198200000 usd
CY2023 us-gaap Net Income Loss
NetIncomeLoss
981900000 usd
CY2023 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
5100000 usd
CY2023 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
4.84
CY2023 us-gaap Dividends
Dividends
594100000 usd
CY2023 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
24200000 usd
CY2023 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
32700000 usd
CY2023 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
458700000 usd
CY2023 dri Stock Issued During Period Value Espp And Other Plans
StockIssuedDuringPeriodValueESPPAndOtherPlans
11200000 usd
CY2023 us-gaap Stockholders Equity Other
StockholdersEquityOther
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CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
2201500000 usd
CY2024 us-gaap Net Income Loss
NetIncomeLoss
1027600000 usd
CY2024 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
22400000 usd
CY2024 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
5.24
CY2024 us-gaap Dividends
Dividends
631900000 usd
CY2024 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
31800000 usd
CY2024 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
36600000 usd
CY2024 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
453900000 usd
CY2024 dri Stock Issued During Period Value Espp And Other Plans
StockIssuedDuringPeriodValueESPPAndOtherPlans
11800000 usd
CY2024 us-gaap Stockholders Equity Other
StockholdersEquityOther
3400000 usd
CY2024Q2 us-gaap Stockholders Equity
StockholdersEquity
2242500000 usd
CY2024 us-gaap Net Income Loss
NetIncomeLoss
1027600000 usd
CY2023 us-gaap Net Income Loss
NetIncomeLoss
981900000 usd
CY2022 us-gaap Net Income Loss
NetIncomeLoss
952800000 usd
CY2024 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
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CY2023 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
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CY2022 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
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CY2024 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
459900000 usd
CY2023 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
387800000 usd
CY2022 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
368400000 usd
CY2024 us-gaap Gain Loss On Sales Of Assets And Asset Impairment Charges
GainLossOnSalesOfAssetsAndAssetImpairmentCharges
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CY2023 us-gaap Gain Loss On Sales Of Assets And Asset Impairment Charges
GainLossOnSalesOfAssetsAndAssetImpairmentCharges
10600000 usd
CY2022 us-gaap Gain Loss On Sales Of Assets And Asset Impairment Charges
GainLossOnSalesOfAssetsAndAssetImpairmentCharges
2000000.0 usd
CY2024 us-gaap Share Based Compensation
ShareBasedCompensation
68500000 usd
CY2023 us-gaap Share Based Compensation
ShareBasedCompensation
67500000 usd
CY2022 us-gaap Share Based Compensation
ShareBasedCompensation
60500000 usd
CY2024 us-gaap Increase Decrease In Operating Capital
IncreaseDecreaseInOperatingCapital
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CY2023 us-gaap Increase Decrease In Operating Capital
IncreaseDecreaseInOperatingCapital
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CY2022 us-gaap Increase Decrease In Operating Capital
IncreaseDecreaseInOperatingCapital
96700000 usd
CY2024 us-gaap Pension And Other Postretirement Benefit Contributions
PensionAndOtherPostretirementBenefitContributions
1700000 usd
CY2023 us-gaap Pension And Other Postretirement Benefit Contributions
PensionAndOtherPostretirementBenefitContributions
2100000 usd
CY2022 us-gaap Pension And Other Postretirement Benefit Contributions
PensionAndOtherPostretirementBenefitContributions
2200000 usd
CY2024 us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
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CY2023 us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
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CY2022 us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
-23700000 usd
CY2024 dri Increase Decrease In Other Operating Capital
IncreaseDecreaseInOtherOperatingCapital
23400000 usd
CY2023 dri Increase Decrease In Other Operating Capital
IncreaseDecreaseInOtherOperatingCapital
-9000000.0 usd
CY2022 dri Increase Decrease In Other Operating Capital
IncreaseDecreaseInOtherOperatingCapital
7400000 usd
CY2024 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
16700000 usd
CY2023 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
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CY2022 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
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CY2024 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
1621700000 usd
CY2023 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
1552800000 usd
CY2022 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
1264600000 usd
CY2024 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
601200000 usd
CY2023 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
564900000 usd
CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
376900000 usd
CY2024 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
3300000 usd
CY2023 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
25400000 usd
CY2022 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
10100000 usd
CY2024 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
701100000 usd
CY2023 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0 usd
CY2022 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0 usd
CY2024 us-gaap Payments To Acquire Other Productive Assets
PaymentsToAcquireOtherProductiveAssets
27100000 usd
CY2023 us-gaap Payments To Acquire Other Productive Assets
PaymentsToAcquireOtherProductiveAssets
29400000 usd
CY2022 us-gaap Payments To Acquire Other Productive Assets
PaymentsToAcquireOtherProductiveAssets
25600000 usd
CY2024 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
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CY2023 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-500000 usd
CY2024 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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CY2023 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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CY2024 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
43600000 usd
CY2023 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
35400000 usd
CY2024 us-gaap Payments Of Dividends
PaymentsOfDividends
628400000 usd
CY2023 us-gaap Payments Of Dividends
PaymentsOfDividends
589800000 usd
CY2024 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
453900000 usd
CY2023 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
458700000 usd
CY2024 us-gaap Proceeds From Issuance Of Commercial Paper
ProceedsFromIssuanceOfCommercialPaper
86800000 usd
CY2023 us-gaap Proceeds From Issuance Of Commercial Paper
ProceedsFromIssuanceOfCommercialPaper
0 usd
CY2022 us-gaap Proceeds From Issuance Of Commercial Paper
ProceedsFromIssuanceOfCommercialPaper
0 usd
CY2024 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
1100000000 usd
CY2023 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
0 usd
CY2022 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
0 usd
CY2024 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
600000000.0 usd
CY2023 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
0 usd
CY2022 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
0 usd
CY2024 dri Finance Lease Principal Payments Net Of Tenant Incentive Cash Received
FinanceLeasePrincipalPaymentsNetOfTenantIncentiveCashReceived
19900000 usd
CY2023 dri Finance Lease Principal Payments Net Of Tenant Incentive Cash Received
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CY2022 dri Finance Lease Principal Payments Net Of Tenant Incentive Cash Received
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CY2024 us-gaap Payments Of Debt Issuance Costs
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CY2023 us-gaap Payments Of Debt Issuance Costs
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CY2022 us-gaap Payments Of Debt Issuance Costs
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CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2023Q2 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2022Q2 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2023Q2 us-gaap Restricted Cash And Cash Equivalents
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CY2022Q2 us-gaap Restricted Cash And Cash Equivalents
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CY2022 us-gaap Increase Decrease In Receivables
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CY2023 us-gaap Increase Decrease In Inventories
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CY2022 us-gaap Increase Decrease In Inventories
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CY2023 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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CY2022 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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CY2023 us-gaap Increase Decrease In Accounts Payable
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CY2022 us-gaap Increase Decrease In Accounts Payable
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CY2023 us-gaap Increase Decrease In Employee Related Liabilities
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CY2022 us-gaap Increase Decrease In Employee Related Liabilities
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CY2023 us-gaap Increase Decrease In Accrued Income Taxes Payable
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CY2022 us-gaap Increase Decrease In Accrued Income Taxes Payable
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CY2023 us-gaap Increase Decrease In Property And Other Taxes Payable
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CY2023 us-gaap Increase Decrease In Operating Capital
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CY2022 us-gaap Increase Decrease In Operating Capital
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CY2024 us-gaap Fiscal Period
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<div style="margin-top:12pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Fiscal Year </span></div>We operate on a 52/53-week fiscal year, which ends on the last Sunday in May. Fiscal 2024, which ended May 26, 2024, consisted of 52 weeks. Fiscal 2023, which ended May 28, 2023, consisted of 52 weeks and fiscal 2022, which ended May 29, 2022, consisted of 52 weeks.
CY2024 us-gaap Use Of Estimates
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<div style="margin-top:12pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates </span></div>We prepare our consolidated financial statements in conformity with U.S. generally accepted accounting principles (GAAP). The preparation of these financial statements requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of sales and expenses during the reporting period. Actual results could differ from those estimates.
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
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CY2024Q2 us-gaap Goodwill
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CY2023Q2 us-gaap Goodwill
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CY2024Q2 us-gaap Indefinite Lived Trademarks
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CY2023Q2 us-gaap Indefinite Lived Trademarks
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CY2024 us-gaap Number Of Reporting Units
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10 reportingunit
CY2024 dri Revenue Recognition Gift Card Breakage Redemption Period
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P12Y
CY2024 us-gaap Derivatives Reporting Of Derivative Activity
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<div style="margin-top:12pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Derivative Instruments and Hedging Activities </span></div><div style="text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We enter into derivative instruments for risk management purposes only, including derivatives designated as hedging instruments as required by FASB ASC Topic 815, Derivatives and Hedging, and those utilized as economic hedges. We use financial and commodities derivatives to manage interest rate, compensation and commodities pricing risks inherent in our business operations. Our use of derivative instruments is currently limited to interest rate hedges, equity forward contracts and commodity swaps. These instruments are generally structured as hedges of the variability of cash flows related to forecasted transactions (cash flow hedges). However, we do at times enter into instruments designated as fair value hedges to reduce our exposure to changes in fair value of the related hedged item. We do not enter into derivative instruments for trading or speculative purposes, where changes in the cash flows or fair value of the derivative are not expected to offset changes in cash flows or fair value of the hedged item. However, we have entered into equity forwards to economically hedge changes in the fair value of employee investments in our non-qualified deferred compensation plan. All derivatives are recognized on the balance sheet at fair value. For those derivative instruments for which we intend to elect hedge accounting, on the date the derivative contract is entered into, we document all relationships between hedging instruments and hedged items, as well as our risk-management objective and strategy for undertaking the various hedge transactions. This process includes linking all derivatives designated as cash flow hedges to specific assets and liabilities on the consolidated balance sheet or to specific forecasted transactions. We also formally assess, both at the hedge’s inception and on an ongoing basis, whether the derivatives used in hedging transactions are highly effective in offsetting changes in cash flows of hedged items. </span></div>To the extent our derivatives are effective in offsetting the variability of the hedged cash flows, and otherwise meet the cash flow hedge accounting criteria required by FASB ASC Topic 815, changes in the derivatives’ fair value are not included in current earnings but are included in accumulated other comprehensive income (loss), net of tax. These changes in fair value will be reclassified into earnings at the time of the forecasted transaction. Ineffectiveness measured in the hedging relationship is recorded currently in earnings in the period in which it occurs. To the extent our derivatives are effective in mitigating changes in fair value, and otherwise meet the fair value hedge accounting criteria required by FASB ASC Topic 815, gains and losses in the derivatives’ fair value are included in current earnings, as are the gains and losses of the related hedged item. To the extent the hedge accounting criteria are not met, the derivative contracts are utilized as economic hedges, and changes in the fair value of such contracts are recorded currently in earnings in the period in which they occur. Cash flows related to derivatives are included in operating activities.
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CY2023 us-gaap Income Loss From Continuing Operations
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CY2022 us-gaap Net Income Loss
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CY2024 dri Number Of Location Closures
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CY2024Q2 us-gaap Construction In Progress Gross
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CY2023Q2 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Before Accumulated Depreciation And Amortization
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CY2024Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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CY2024Q2 us-gaap Finance Lease Right Of Use Asset Accumulated Amortization
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CY2023Q2 us-gaap Finance Lease Right Of Use Asset Accumulated Amortization
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CY2024Q2 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization
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CY2023Q2 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization
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3725100000 usd
CY2024 us-gaap Number Of Reportable Segments
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CY2024Q2 us-gaap Assets
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CY2023Q2 us-gaap Assets
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CY2024 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2023Q2 us-gaap Hedged Liability Fair Value Hedge
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CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
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CY2023Q2 us-gaap Derivative Fair Value Of Derivative Asset
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CY2023Q2 us-gaap Derivative Fair Value Of Derivative Liability
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CY2024 us-gaap Cash Flow Hedge Gain Loss To Be Reclassified Within Twelve Months
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CY2024Q2 us-gaap Debt Instrument Fair Value
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CY2023Q2 us-gaap Long Term Debt
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CY2023Q2 us-gaap Debt Instrument Fair Value
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CY2024Q1 srt Stock Repurchase Program Authorized Amount1
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1000000000 usd
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CY2024Q2 dri Stock Repurchase Program Cumulative Shares Retired
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199300000 shares
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CY2024Q2 us-gaap Unrecognized Tax Benefits
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CY2024 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Expense
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