EARNINGS PER SHARE

9 Months Ended

Feb. 28, 2021

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				Thirty-Nine Weeks Ended
	February 28,		February 23,		February 28,		February 23,
	2021		2020		2021		2020
Numerator:
Net income	$	66.1	$	111.4	$	252.3	$	367.5

Denominator:
Basic weighted average common shares outstanding		146.5		146.2		146.4		146.2
Add: Dilutive effect of employee incentive plans (a)		0.7		1.0		0.7		0.9
Diluted weighted average common shares outstanding		147.2		147.2		147.1		147.1

Earnings per share
Basic	$	0.45	$	0.76	$	1.72	$	2.51
Diluted	$	0.45	$	0.76	$	1.72	$	2.50

(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 February 28, 2021, we did not have any stock-based awards that were antidilutive. As of February 23, 2020, an insignificant number of stock-based awards were excluded from the computation of diluted earnings per share because they would be antidilutive.