A Dark Vector Cognition product

Item 6. SELECTED FINANCIAL DATA

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Item 6. SELECTED FINANCIAL DATA

Fiscal Year Ended
(Dollars in millions, except per share data)May 26, 2019May 27, 2018May 28, 2017May 29, 2016May 31, 2015 (2)
Operating Results (1) Sales$8,510.4$8,080.1$7,170.2$6,933.5$6,764.0
Costs and expenses:
Food and beverage2,412.52,303.12,070.32,039.72,085.1
Restaurant labor2,771.12,614.52,265.32,189.22,135.6
Restaurant expenses1,477.81,417.11,265.21,163.51,120.8
Marketing expenses255.3252.3239.7238.0243.3
General and administrative405.5409.8387.7384.9430.2
Depreciation and amortization336.7313.1272.9290.2319.3
Impairments and disposal of assets, net19.03.4(8.4)5.862.1
Total operating costs and expenses$7,677.9$7,313.3$6,492.7$6,311.3$6,396.4
Operating income832.5766.8677.5622.2367.6
Interest, net50.2161.140.2172.5192.3
Earnings before income taxes782.3605.7637.3449.7175.3
Income tax expense (benefit)63.71.9154.890.0(21.1)
Earnings from continuing operations$718.6$603.8$482.5$359.7$196.4
Earnings (loss) from discontinued operations, net of tax expense (benefit) of $(1.8), $(4.8), $(4.2), $3.4 and $344.8(5.2)(7.8)(3.4)15.3513.1
Net earnings$713.4$596.0$479.1$375.0$709.5
Basic net earnings per share:
Earnings from continuing operations$5.82$4.87$3.88$2.82$1.54
Earnings (loss) from discontinued operations$(0.04)$(0.06)$(0.03)$0.12$4.02
Net earnings$5.78$4.81$3.85$2.94$5.56
Diluted net earnings per share:
Earnings from continuing operations$5.73$4.79$3.83$2.78$1.51
Earnings (loss) from discontinued operations$(0.04)$(0.06)$(0.03)$0.12$3.96
Net earnings$5.69$4.73$3.80$2.90$5.47
Average number of common shares outstanding:
Basic123.5124.0124.3127.4127.7
Diluted125.4126.0126.0129.3129.7
Financial Position
Total assets$5,892.8$5,469.6$5,292.3$4,419.4$5,837.3
Land, buildings and equipment, net$2,552.6$2,429.8$2,272.3$2,041.6$3,215.8
Working capital (deficit)$(581.5)$(830.9)$(701.3)$(530.0)$(297.7)
Long-term debt, less current portion$927.7$926.5$936.6$440.0$1,452.3
Stockholders’ equity$2,392.6$2,194.8$2,101.7$1,952.0$2,333.5
Stockholders’ equity per outstanding share$19.44$17.77$16.76$15.47$18.42
Item 6. SELECTED FINANCIAL DATA (continued)
Fiscal Year Ended
(Dollars in millions, except per share data)May 26, 2019May 27, 2018May 28, 2017May 29, 2016May 31, 2015 (2)
Other Statistics
Cash flows from operations (1)$1,267.6$1,019.8$916.3$820.4$874.3
Capital expenditures (1)$452.0$396.0$293.0$228.3$296.5
Dividends paid$370.8$313.5$279.1$268.2$278.9
Dividends paid per share$3.00$2.52$2.24$2.10$2.20
Number of employees184,514180,656178,729150,942148,892
Number of restaurants (1)1,7851,7461,6951,5361,534
(1)Consistent with our consolidated financial statements, information has been presented on a continuing operations basis. Accordingly, all discontinued operations have been excluded.
(2)Fiscal year 2015 consisted of 53 weeks, while all other fiscal years consisted of 52 weeks.

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