EARNINGS PER SHARE

9 Months Ended

Feb. 24, 2013

Earnings Per Share [Abstract]

EARNINGS PER SHARE

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 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				Thirty-nine weeks ended
	February 24, 2013		February 26, 2012		February 24, 2013		February 26, 2012
Net income available to ConAgra Foods, Inc. common stockholders:
Income from continuing operations attributable to ConAgra Foods, Inc. common stockholders	$	120.0	$	280.1	$	581.7	$	554.0
Income from discontinued operations, net of tax, attributable to ConAgra Foods, Inc. common stockholders	—		—		—		0.1
Net income attributable to ConAgra Foods, Inc. common stockholders	$	120.0	$	280.1	$	581.7	$	554.1
Less: Increase in redemption value of noncontrolling interests in excess of earnings allocated	0.4		0.1		1.2		1.1
Net income available to ConAgra Foods, Inc. common stockholders	$	119.6	$	280.0	$	580.5	$	553.0
Weighted average shares outstanding:
Basic weighted average shares outstanding	410.7		414.3		408.4		413.6
Add: Dilutive effect of stock options, restricted stock unit awards, and other dilutive securities	7.1		5.7		6.1		5.5
Diluted weighted average shares outstanding	417.8		420.0		414.5		419.1

For the third quarter of fiscal 2013, there were no stock options outstanding excluded from the computation of shares contingently issuable upon exercise of the stock options. For the first three quarters of fiscal 2013, there were 1.9 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 third quarter and first three quarters of fiscal 2012, there were 9.7 million and 13.7 million stock options, respectively, excluded from the calculation.