Note 7 - Earnings Per Share

6 Months Ended

Nov. 27, 2022

Notes to Financial Statements

Earnings Per Share [Text Block]

7. EARNINGS PER SHARE

Basic earnings per share is calculated on the basis of weighted average outstanding shares of common stock. Diluted earnings per share is computed on the basis of basic weighted average outstanding shares of common stock 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 per share:

	Thirteen Weeks Ended				Twenty-Six Weeks Ended
	November 27, 2022		November 28, 2021		November 27, 2022		November 28, 2021
Net income attributable to Conagra Brands, Inc. common stockholders:	$	381.9	$	275.5	$	304.4	$	510.9
Weighted average shares outstanding:
Basic weighted average shares outstanding		479.4		480.2		480.0		480.3
Add: Dilutive effect of stock options, restricted stock unit awards, and other dilutive securities		1.5		1.7		1.6		1.8
Diluted weighted average shares outstanding		480.9		481.9		481.6		482.1

For the second quarter and first half of fiscal 2023, there were 0.8 million and 0.9 million stock options outstanding, respectively, that were excluded from the computation of diluted weighted average shares because the effect was antidilutive. For the second quarter and first half of fiscal 2022, there were 1.0 million and 0.7 million stock options outstanding, respectively, that were excluded from the calculation.