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EARNINGS (LOSS) PER SHARE
 6 Months Ended
Nov. 27, 2016
Earnings Per Share [Abstract]  
EARNINGS (LOSS) PER SHARE
EARNINGS (LOSS) PER SHARE
Basic earnings (loss) per share is calculated on the basis of weighted average outstanding common shares. Diluted earnings (loss) 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 (loss) per share:
 
Thirteen weeks ended
 
Twenty-six weeks ended
 
November 27,
2016
 
November 29,
2015
 
November 27,
2016
 
November 29,
2015
Net income (loss) available to Conagra Brands, Inc. common stockholders:
 
 
 
 
 
 
 
Income from continuing operations attributable to Conagra Brands, Inc. common stockholders
$
113.7

 
$
79.4

 
$
212.1

 
$
172.8

Income (loss) from discontinued operations, net of tax, attributable to Conagra Brands, Inc. common stockholders
8.4

 
75.5

 
96.2

 
(1,172.0
)
Net income (loss) attributable to Conagra Brands, Inc. common stockholders
$
122.1

 
$
154.9

 
$
308.3

 
$
(999.2
)
Less: Increase in redemption value of noncontrolling interests in excess of earnings allocated
0.3

 
0.5

 
0.8

 
0.9

Net income (loss) available to Conagra Brands, Inc. common stockholders
$
121.8

 
$
154.4

 
$
307.5

 
$
(1,000.1
)
Weighted average shares outstanding:
 
 
 
 
 
 
 
Basic weighted average shares outstanding
437.7

 
433.8

 
438.4

 
432.1

Add: Dilutive effect of stock options, restricted stock unit awards, and other dilutive securities
3.6

 
4.1

 
3.7

 
4.6

Diluted weighted average shares outstanding
441.3

 
437.9

 
442.1

 
436.7


For the second quarter and first half of fiscal 2017, there were 1.5 million and 1.1 million stock options outstanding, respectively, that were excluded from the computation of shares contingently issuable upon exercise primarily because exercise prices exceeded the average market value of our common stock during the period. For the second quarter and first half of fiscal 2016, there were 1.5 million and 0.9 million stock options outstanding, respectively, that were excluded from the calculation.