EARNINGS PER SHARE (Tables)

3 Months Ended

Aug. 28, 2022

Schedule of computation of basic and diluted earnings per common share


	Thirteen Weeks Ended
	August 28,		August 29,
(in millions, except per share amounts)	2022		2021
Numerator:
Net income	$	231.9	$	29.8

Denominator:
Basic weighted average common shares outstanding		144.0		146.3
Add: Dilutive effect of employee incentive plans (a)		0.6		0.6
Diluted weighted average common shares outstanding		144.6		146.9

Earnings per share:
Basic	$	1.61	$	0.20
Diluted	$	1.60	$	0.20

(a)

Potential dilutive shares of common stock under 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 August 28, 2022, 0.6 million shares of stock-based awards were excluded from the computation of diluted earnings per share because they would be antidilutive. As of August 29, 2021, an insignificant number of stock-based awards were excluded from the computation of diluted earnings per share because they would be antidilutive.