Red Lobster 2000 Annual Report Download - page 30

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DARDEN RESTAURANTS 2000 ANNUAL REPORT 27
CONSOLIDATED STATEMENTS OF EARNINGS
DARDEN RESTAURANTS
Fiscal Year Ended
(In thousands, except per share data) May 28, 2000 May 30, 1999 May 31, 1998
Sales $3,701,256 $3,458,107 $3,287,017
Costs and Expenses:
Cost of sales:
Food and beverage 1,199,709 1,133,705 1,083,629
Restaurant labor 1,180,090 1,117,401 1,062,490
Restaurant expenses 521,159 493,811 482,311
Total Cost of Sales $2,900,958 $2,744,917 $2,628,430
Selling, general and administrative 379,470 360,909 358,542
Depreciation and amortization 130,464 125,327 126,289
Interest, net 22,388 19,540 20,084
Restructuring and asset impairment credit, net (5,931) (8,461)
Total Costs and Expenses $3,427,349 $3,242,232 $3,133,345
Earnings before Income Taxes 273,907 215,875 153,672
Income Taxes 97,202 75,337 51,958
Net Earnings $ 176,705 $ 140,538 $ 101,714
Net Earnings per Share:
Basic $ 1.38 $ 1.02 $ 0.69
Diluted $ 1.34 $ 0.99 $ 0.67
Average Number of Common Shares Outstanding:
Basic 128,500 137,300 148,300
Diluted 131,900 141,400 151,400
See accompanying notes to consolidated financial statements.