XML 29 R8.htm IDEA: XBRL DOCUMENT v3.7.0.1
EARNINGS PER SHARE
 12 Months Ended
May 28, 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):

 

 

 

 

 

 

 

 

 

 

 

 

 

For the Fiscal Years Ended May

 

    

2017

    

2016

    

2015

Numerator:

 

 

  

 

 

  

 

 

  

Net income attributable to Lamb Weston Holdings, Inc.

 

$

326.9

 

$

285.3

 

$

268.3

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

 

 

2.1

 

 

4.8

 

 

1.7

Net income available to Lamb Weston common stockholders

 

$

324.8

 

$

280.5

 

$

266.6

 

 

 

 

 

 

 

 

 

 

Denominator (a):

 

 

  

 

 

  

 

 

  

Basic weighted average common shares outstanding

 

 

146.1

 

 

146.0

 

 

146.0

Add: Dilutive effect of employee incentive plans (b)

 

 

0.5

 

 

 —

 

 

 —

Diluted weighted average common shares outstanding

 

 

146.6

 

 

146.0

 

 

146.0

 

 

 

 

 

 

 

 

 

 

Earnings per share

 

 

 

 

 

 

 

 

 

Basic

 

$

2.22

 

$

1.92

 

$

1.83

Diluted

 

$

2.22

 

$

1.92

 

$

1.83

(a)

Earnings per share for fiscal 2016 and 2015 was calculated based on approximately 146 million shares of Lamb Weston common stock that were distributed to Conagra stockholders on November 9, 2016.

 

(b)

Potentially dilutive shares of common stock from employee incentive plans are determined by applying the treasury stock method to the assumed exercise of outstanding stock options and the assumed vesting of outstanding restricted stock units and performance awards. As of May 28, 2017, we did not have any stock-based awards that were antidilutive. Lamb Weston had no stock-based awards outstanding prior to the Separation.