Net Income per Common Share

9 Months Ended

Feb. 26, 2022

Net Income per Common Share [Abstract]

Net Income per Common Share

Note 9 - Net Income per Common Share

Basic net income per share is based on the weighted average Common Stock and Class A Common Stock outstanding. Diluted

net income per share is based on weighted-average common shares outstanding during the relevant period adjusted for the

dilutive effect of share-based awards.

The following table provides a reconciliation of the numerators and denominators used to determine basic and diluted net

income per common share (amounts in thousands, except per share data):

Thirteen Weeks Ended

Thirty-nine Weeks Ended

February 26, 2022

February 27, 2021

February 26, 2022

February 27, 2021

Numerator

Net income

$

39,454

$

13,548

$

22,573

$

6,304

Less: Loss attributable to noncontrolling

interest

(63)

—

(91)

—

Net income attributable to Cal-Maine

Foods, Inc.

$

39,517

$

13,548

$

22,664

$

6,304

Denominator

Weighted-average common shares

outstanding, basic

48,886

48,530

48,888

48,511

Effect of dilutive restricted shares

150

129

147

138

Weighted-average common shares

outstanding, diluted

49,036

48,659

49,035

48,649

Net income per common share attributable to

Cal-Maine Foods, Inc.

Basic

$

0.81

$

0.28

$

0.46

$

0.13

Diluted

$

0.81

$

0.28

$

0.46

$

0.13