EARNINGS PER SHARE (Tables)

12 Months Ended

May 29, 2022

Schedule of computation of basic and diluted earnings per common share


	For the Fiscal Years Ended May
(in millions, except per share amounts)	2022		2021		2020
Numerator:
Net income	$	200.9	$	317.8	$	365.9

Denominator:
Basic weighted average common shares outstanding		145.5		146.4		146.2
Add: Dilutive effect of employee incentive plans (a)		0.4		0.7		0.9
Diluted weighted average common shares outstanding		145.9		147.1		147.1

Earnings per share:
Basic	$	1.38	$	2.17	$	2.50
Diluted	$	1.38	$	2.16	$	2.49

(a)

Potential 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 29, 2022 and May 30, 2021, we did not have any stock-based awards that were antidilutive. As of May 31, 2020, an insignificant number of stock-based awards were excluded from the computation of diluted earnings per share because they would be antidilutive.