EARNINGS PER SHARE

6 Months Ended

Nov. 29, 2020

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, except per share amounts):


	Thirteen Weeks Ended				Twenty-Six Weeks Ended
	November 29,		November 24,		November 29,		November 24,
	2020		2019		2020		2019
Numerator:
Net income	$	96.9	$	140.4	$	186.2	$	256.1

Denominator:
Basic weighted average common shares outstanding		146.5		146.2		146.4		146.2
Add: Dilutive effect of employee incentive plans (a)		0.6		0.9		0.7		0.9
Diluted weighted average common shares outstanding		147.1		147.1		147.1		147.1

Earnings per share
Basic	$	0.66	$	0.96	$	1.27	$	1.75
Diluted	$	0.66	$	0.95	$	1.27	$	1.74

(a)

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 29, 2020, an insignificant number of stock-based awards were excluded from the computation of diluted earnings per share because they would be antidilutive. As of November 24, 2019, we did not have any stock-based awards that were antidilutive.