Earnings Per Share

12 Months Ended

May 27, 2012

Earnings Per Share [Abstract]

EARNINGS PER SHARE

9.  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:

	2012			2011			2010
Net Income available to ConAgra Foods, Inc. common stockholders:
Income from continuing operations attributable to ConAgra Foods, Inc. common stockholders	$	467.8		$	829.1		$	632.8
Income (loss) from discontinued operations, net of tax, attributable to ConAgra Foods, Inc. common stockholders		0.1			(11.5	)		(19.3	)
Net income attributable to ConAgra Foods, Inc. common stockholders		467.9			817.6			613.5
Less: Increase in redemption value of noncontrolling interests in excess of earnings allocated		(1.5	)		(1.9	)		(1.5	)
Net income available to ConAgra Foods, Inc. common stockholders	$	466.4		$	815.7		$	612.0
Weighted Average Shares Outstanding:
Basic weighted average shares outstanding		412.9			429.7			443.6
Add: Dilutive effect of stock options, restricted stock awards, and other dilutive securities		5.4			4.6			3.5
Diluted weighted average shares outstanding		418.3			434.3			447.1

At the end of fiscal 2012, 2011, and 2010, there were 11.3 million, 15.8 million, and 18.8 million stock options outstanding, respectively, that were excluded from the computation of shares contingently issuable upon exercise of the stock options because exercise prices exceeded the annual average market value of our common stock.