Net Income per Common Share

12 Months Ended

May 28, 2022

Net Income per Common Share [Abstract]

Net Income per Common Share

Note 13 - Net Income per Common Share

Basic net income per share attributable to Cal-Maine Foods, Inc. is based on the weighted average Common Stock and Class A

Common Stock outstanding. Diluted net income per share attributable to Cal-Maine Foods, Inc. is based on weighted-average

common shares outstanding during the relevant period adjusted for the dilutive effect of share-based awards. 

The following table provides a reconciliation of the numerators and denominators used to determine basic and diluted net income

per common share attributable to Cal-Maine Foods, Inc. (amounts in thousands, except per share data):

May 28, 2022

May 29, 2021

May 30, 2020

Numerator

Net income

$

132,441

$

2,060

$

18,328

Less: Net income (loss) attributable to noncontrolling interest

(209)

—

(63)

Net income attributable to Cal-Maine Foods, Inc.

$

132,650

$

2,060

$

18,391

Denominator

Weighted-average common shares outstanding, basic

48,581

48,522

48,467

Effect of dilutive securities of restricted shares

153

134

117

Weighted-average common shares outstanding, diluted

48,734

48,656

48,584

Net income per common share attributable to Cal-Maine Foods, Inc.

Basic

$

2.73

$

0.04

$

0.38

Diluted

$

2.72

$

0.04

$

0.38