EARNINGS PER SHARE

3 Months Ended

Aug. 24, 2014

Earnings Per Share [Abstract]

EARNINGS PER SHARE

EARNINGS PER SHARE

Basic earnings per share is calculated on the basis of weighted average outstanding common shares. Diluted earnings per share is computed on the basis of basic weighted average outstanding common shares adjusted for the dilutive effect of stock options, restricted stock unit awards, and other dilutive securities.

The following table reconciles the income and average share amounts used to compute both basic and diluted earnings per share:

	Thirteen Weeks Ended
	August 24, 2014		August 25, 2013
Net income available to ConAgra Foods, Inc. common stockholders:
Income from continuing operations attributable to ConAgra Foods, Inc. common stockholders	$	109.0	$	130.5
Income from discontinued operations, net of tax, attributable to ConAgra Foods, Inc. common stockholders	373.3		13.8
Net income attributable to ConAgra Foods, Inc. common stockholders	$	482.3	$	144.3
Less: Increase in redemption value of noncontrolling interests in excess of earnings allocated	0.4		0.4
Net income available to ConAgra Foods, Inc. common stockholders	$	481.9	$	143.9
Weighted average shares outstanding:
Basic weighted average shares outstanding	423.9		421.1
Add: Dilutive effect of stock options, restricted stock unit awards, and other dilutive securities	5.4		7.1
Diluted weighted average shares outstanding	429.3		428.2

For the first quarter of fiscal 2015 and 2014, there were 4.8 million and 1.7 million stock options outstanding, respectively, that were excluded from the computation of shares contingently issuable upon the exercise of stock options because exercise prices exceeded the average market value of our common stock during the period.