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38 DARDEN RESTAURANTS, INC. | 2010 ANNUAL REPORT
Notes to Consolidated Financial Statements
Darden Restaurants
38 DARDEN RESTAURANTS, INC. | 2010 ANNUAL REPORT
The Board of Directors and Stockholders
Darden Restaurants, Inc.
We have audited the accompanying consolidated balance sheets of Darden
Restaurants, Inc. and subsidiaries as of May 30, 2010 and May 31, 2009,
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 30, 2010. These
consolidated financial statements are the responsibility of the Company’s
management. Our responsibility is to express an opinion on these consolidated
financial statements 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 30, 2010 and May 31, 2009,
and the results of their operations and their cash flows for each of the years in
the three-year period ended May 30, 2010, in conformity with U.S. generally
accepted accounting principles.
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 30, 2010, 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 23, 2010 expressed an unqualified
opinion on the effectiveness of Darden Restaurants, Inc.’s internal control
over financial reporting.
Orlando, Florida
July 23, 2010
Certified Public Accountants
Report of Independent Registered Public Accounting Firm
Darden