EARNINGS PER SHARE

9 Months Ended

Feb. 26, 2017

EARNINGS PER SHARE

EARNINGS PER SHARE

2.    EARNINGS PER SHARE

The following table sets forth the computation of basic and diluted earnings per common share for the periods presented (dollars and shares in millions): 

	Thirteen Weeks Ended				Thirty-Nine Weeks Ended
	February 26,		February 28,		February 26,		February 28,
	2017		2016		2017		2016
Numerator:
Net income attributable to Lamb Weston Holdings, Inc.	$	84.2	$	107.4	$	251.0	$	242.7
Less: Increase in redemption value of noncontrolling interests in excess of earnings allocated		0.7		3.5		1.6		4.4
Net income available to Lamb Weston common stockholders	$	83.5	$	103.9	$	249.4	$	238.3
Denominator (a):
Basic weighted average common shares outstanding		146.1		146.0		146.1		146.0
Add: Dilutive effect of stock options, restricted stock units, and other dilutive securities (b)		0.4		—		0.4		—
Diluted weighted average common shares outstanding		146.5		146.0		146.5		146.0
Earnings per share
Basic	$	0.57	$	0.71	$	1.71	$	1.63
Diluted	$	0.57	$	0.71	$	1.70	$	1.63

(a) Earnings per share for the thirteen and thirty-nine weeks ended February 26, 2016 was calculated based on approximately 146 million shares of Lamb Weston common stock that were distributed to Conagra stockholders on November 9, 2016. 

(b) Diluted earnings per share is calculated using net income available to common stockholders divided by diluted weighted-average shares of common stock outstanding during each period, which includes unvested share-based awards that are dilutive. For both the thirteen and thirty-nine weeks ended February 26, 2017,  0.1 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.