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Earnings Per Share
 3 Months Ended
Aug. 28, 2011
Earnings Per Share [Abstract]  
EARNINGS PER SHARE
8. 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 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 28,     August 29,  
    2011     2010  
Net income attributable to ConAgra Foods, Inc. common stockholders:
               
Income from continuing operations attributable to ConAgra Foods, Inc. common stockholders
  $ 85.2     $ 143.4  
Income from discontinued operations, net of tax, attributable to ConAgra Foods, Inc. common stockholders
    0.1       3.0  
 
           
Net income attributable to ConAgra Foods, Inc. common stockholders
    85.3       146.4  
Less: Increase in redemption value of noncontrolling interests in excess of earnings allocated
    0.3       1.4  
 
           
Net income attributable to ConAgra Foods, Inc. common stockholders
  $ 85.0     $ 145.0  
 
           
Weighted average shares outstanding:
               
Basic weighted average shares outstanding
    412.7       441.5  
Add: Dilutive effect of stock options, restricted stock awards, and other dilutive securities
    5.4       4.5  
 
           
Diluted weighted average shares outstanding
    418.1       446.0  
 
           
For the thirteen weeks ended August 28, 2011, there were 13.5 million stock options outstanding that were excluded from the computation of shares contingently issuable upon exercise of the stock options because exercise prices exceeded the average market value of our common stock during the period. For the thirteen weeks ended August 29, 2010, there were 35.7 million stock options excluded from the calculation.
The decline in the diluted weighted average shares outstanding from the first quarter of fiscal 2011 resulted principally from our repurchase of 36.1 million shares during fiscal 2011 under our share repurchase plan.