Table of Contents Our Strategic Building Blocks 2004 Financial Highlights Operating Company Overviews Letter to Shareholders Leadership Defined    Inspiration    Motivation    Trust    Passion    Vision    Innovation Corporate Responsibility Financial Review 2004   Management’s Discussion and Analysis...   Report of Management Responsibilities   Report of Independent Registered...   Consolidated Statements of Earnings   Consolidated Balance Sheets   Consolidated Statements of Changes...   Consolidated Statements of Cash Flows   Notes to Consolidated Financial Statements   Five-Year Financial Summary Shareholder Information Board of Directors Corporate Officers
Financial Review 2004 Consolidated Statements of Earnings   Fiscal Year Ended (In thousands, except per share data)   May 30, 2004     May 25, 2003     May 26, 2002   Sales    $ 5,003,355         $ 4,654,971         $ 4,366,911      Costs and expenses:    Cost of sales:       Food and beverage   1,526,875     1,449,162     1,384,481         Restaurant labor   1,601,258     1,485,046     1,373,416         Restaurant expenses   767,584     703,554     628,701            Total cost of sales, excluding restaurant depreciation             and amortization of $195,486, $177,127, and                $155,837, respectively $ 3,895,717   $ 3,637,762   $ 3,386,598      Selling, general, and administrative   472,109     431,722     417,158      Depreciation and amortization   210,004     191,218     165,829      Interest, net   43,659     42,597     36,585      Asset impairment and restructuring charges (credits), net   41,868     3,924     (2,568 )           Total costs and expenses $ 4,663,357   $ 4,307,223   $ 4,003,602   Earnings before income taxes   339,998     347,748     363,309   Income taxes   108,536     115,488     125,521   Net earnings $ 231,462   $ 232,260   $ 237,788   Net earnings per share:    Basic $ 1.42   $ 1.36   $ 1.36      Diluted $ 1.36   $ 1.31   $ 1.30   Average number of common shares outstanding:    Basic   163,500     170,300     174,700      Diluted   169,700     177,400     183,500   See accompanying notes to consolidated financial statements.