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EARNINGS PER SHARE (Tables)
 6 Months Ended
Nov. 27, 2016
EARNINGS PER SHARE  
Schedule of computation of basic and diluted earnings per common

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Thirteen Weeks Ended

 

Twenty-Six Weeks Ended

 

 

    

November 27,

    

November 29,

    

November 27,

    

November 29,

 

 

 

2016

 

2015

 

2016

 

2015

 

Numerator:

 

 

  

 

 

  

 

 

  

 

 

  

 

Net income attributable to Lamb Weston Holdings, Inc.

 

$
87.2

 

$
73.3

 

$
166.8

 

$
135.3

 

Less: Increase in redemption value of noncontrolling interests in excess of earnings allocated

 

 
0.5

 

 
0.4

 

 
0.9

 

 
0.9

 

Net income available to Lamb Weston common stockholders

 

$
86.7

 

$
72.9

 

$
165.9

 

$
134.4

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator (a):

 

 

  

 

 

  

 

 

  

 

 

  

 

Basic weighted average common shares outstanding

 

 
146.0

 

 
146.0

 

 
146.0

 

 
146.0

 

Add: Dilutive effect of stock options, restricted stock units, and other dilutive securities (b)

 

 
0.3

 

 

 —

 

 
0.3

 

 

 —

 

Diluted weighted average common shares outstanding

 

 
146.3

 

 
146.0

 

 
146.3

 

 
146.0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings per share

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$
0.59

 

$
0.50

 

$
1.14

 

$
0.92

 

Diluted

 

$
0.59

 

$
0.50

 

$
1.13

 

$
0.92

 

(a)

Earnings per share was calculated based on 146 million shares of Lamb Weston common shares that were distributed to Conagra shareholders on November 9, 2016. 

 

Diluted earnings per share is calculated using net income available to common shareholders divided by diluted weighted-average shares of common shares outstanding during each period, which includes unvested share-based awards that are dilutive. For the thirteen and twenty-six weeks ended November 27, 2016, 0.3 million share-based awards were excluded from the computation of diluted EPS because they would be antidilutive. Lamb Weston had no share-based awards outstanding prior to the Separation.