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40 Darden Restaurants, Inc. 2009 Annual Report
e Board of Directors and Stockholders
Darden Restaurants, Inc.
We have audited the accompanying consolidated balance sheets of
Darden Restaurants, Inc. and subsidiaries (the Company) as of May 31,
2009 and May 25, 2008, and the related consolidated statements of
earnings, changes in stockholders’ equity and accumulated other
comprehensive income (loss), and cash flows for each of the years in the
three year period ended May 31, 2009. These consolidated financial
statements are the responsibility of the Company’s management. Our
responsibility is to express an opinion on these consolidated financial
statements and financial statement schedules based on our audits.
We conducted our audits in accordance with the standards of
the Public Company Accounting Oversight Board (United States).
Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statements are
free of material misstatement. An audit includes examining, on a
test basis, evidence supporting the amounts and disclosures in the
financial statements. An audit also includes assessing the accounting
principles used and significant estimates made by management, as
well as evaluating the overall financial statement presentation. We
believe that our audits provide a reasonable basis for our opinion.
In our opinion, the consolidated financial statements referred
to above present fairly, in all material respects, the financial position
of Darden Restaurants, Inc. and subsidiaries as of May 31, 2009 and
May 25, 2008, and the results of their operations and their cash flows
for each of the years in the three year period ended May 31, 2009,
in conformity with U.S. generally accepted accounting principles.
As discussed in Note 1 to the consolidated financial statements,
the Company changed its method of accounting for uncertainty
in income taxes in 2008 by adopting FASB Interpretation No. 48,
Accounting for Uncertainty in Income Taxes an interpretation of
FASB Statement No. 109, and changed its method of accounting
for share-based compensation by adopting Statement of Financial
Accounting Standards No. 123(R), Share-Based Payment, and
accounting for defined benefit pension and other postretirement
plans by adopting Statement of Financial Accounting Standards
No. 158, Employers’ Accounting for Defined Benefit Pension and
Other Postretirement Plans, in 2007.
We have also audited, in accordance with the standards of the
Public Company Accounting Oversight Board (United States),
Darden Restaurants, Inc.’s internal control over financial reporting
as of May 31, 2009, based on criteria established in Internal Control –
Integrated Framework issued by the Committee of Sponsoring
Organizations of the Treadway Commission (COSO), and our report
dated July 24, 2009 expressed an unqualified opinion on the effectiveness
of Darden Restaurants, Inc.’s internal control over financial reporting.
Orlando, FL
July 24, 2009
Certified Public Accountants
Report of
Independent Registered Public Accounting Firm