EARNINGS PER SHARE (Tables)

6 Months Ended

Nov. 24, 2019

Schedule of computation of basic and diluted earnings per common


	Thirteen Weeks Ended				Twenty-Six Weeks Ended
	November 24,		November 25,		November 24,		November 25,
	2019		2018		2019		2018
Numerator:
Net income attributable to Lamb Weston Holdings, Inc.	$	140.4	$	119.0	$	256.1	$	226.8
Less: Increase in redemption value of noncontrolling interests in excess of earnings allocated, net of tax benefits (a)		—		10.0		—		10.9
Net income available to Lamb Weston common stockholders	$	140.4	$	109.0	$	256.1	$	215.9

Denominator:
Basic weighted average common shares outstanding		146.2		146.6		146.2		146.5
Add: Dilutive effect of employee incentive plans (b)		0.9		0.8		0.9		0.8
Diluted weighted average common shares outstanding		147.1		147.4		147.1		147.3

Earnings per share (a)
Basic	$	0.96	$	0.74	$	1.75	$	1.47
Diluted	$	0.95	$	0.74	$	1.74	$	1.47

(a)

In November 2018, we entered into an agreement to acquire the remaining 50.01% interest in Lamb Weston BSW, LLC (“Lamb Weston BSW”). Our Consolidated Statements of Earnings includes 100% of Lamb Weston BSW’s earnings beginning November 2, 2018. During the thirteen and twenty-six weeks ended November 25, 2018, net income available to common stockholders and earnings per share included accretion expense, net of estimated tax benefits, of $9.5 million, or $0.06 per share, to increase the redeemable noncontrolling interest to the amount we agreed to pay to acquire the remaining interest in Lamb Weston BSW. While the accretion, net of estimated tax benefits, reduced net income available to Lamb Weston common stockholders and earnings per share, it did not impact net income in the Consolidated Statements of Earnings.

(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 November 24, 2019 and November 25, 2018, we did not have any stock-based awards that were antidilutive.