Net Income per Common Share

12 Months Ended

Jun. 03, 2023

Net Income per Common Share [Abstract]

Net Income per Common Share

Note 12 - Net Income per Common Share

Basic net income per share attributable to Cal-Maine Foods, Inc. is based on the weighted average Common Stock and Class A

Common Stock outstanding. Diluted net income per share attributable to Cal-Maine Foods, Inc. 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 attributable to Cal-Maine Foods, Inc. (amounts in thousands, except per share data):

June 3, 2023

May 28, 2022

May 29, 2021

Numerator

Net income

$

756,732

$

132,441

$

2,060

Less: Net loss attributable to noncontrolling interest

(1,292)

(209)

—

Net income attributable to Cal-Maine Foods, Inc.

$

758,024

$

132,650

$

2,060

Denominator

Weighted-average common shares outstanding, basic

48,648

48,581

48,522

Effect of dilutive securities of restricted shares

186

153

134

Weighted-average common shares outstanding, diluted

48,834

48,734

48,656

Net income per common share attributable to Cal-Maine Foods, Inc.

Basic

$

15.58

$

2.73

$

0.04

Diluted

$

15.52

$

2.72

$

0.04