EARNINGS PER SHARE

3 Months Ended

Aug. 27, 2023

EARNINGS PER SHARE

EARNINGS PER SHARE

2.    EARNINGS PER SHARE

The following table sets forth the computation of basic and diluted earnings per common share for the periods presented:

	Thirteen Weeks Ended
	August 27,		August 28,
(in millions, except per share amounts)	2023		2022
Numerator:
Net income	$	234.8	$	231.9
Denominator:
Basic weighted average common shares outstanding		145.7		144.0
Add: Dilutive effect of employee incentive plans (a)		0.9		0.6
Diluted weighted average common shares outstanding		146.6		144.6
Earnings per share:
Basic	$	1.61	$	1.61
Diluted	$	1.60	$	1.60

(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 27, 2023, 0.2 million shares of stock-based awards were excluded from the computation of diluted earnings per share because they would be antidilutive. 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.