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EARNINGS PER SHARE
 9 Months Ended
Feb. 22, 2015
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. In periods when we recognize a net loss, we exclude the impact of outstanding stock awards from the diluted loss per share calculation, as their inclusion would have an anti-dilutive effect.
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 22,
2015
 
February 23,
2014
 
February 22,
2015
 
February 23,
2014
Net income (loss) available to ConAgra Foods, Inc. common stockholders:
 
 
 
 
 
 
 
Income (loss) from continuing operations attributable to ConAgra Foods, Inc. common stockholders
$
(953.5
)
 
$
223.5

 
$
(823.8
)
 
$
560.7

Income (loss) from discontinued operations, net of tax, attributable to ConAgra Foods, Inc. common stockholders
(0.6
)
 
10.8

 
362.0

 
66.6

Net income (loss) attributable to ConAgra Foods, Inc. common stockholders
$
(954.1
)
 
$
234.3

 
$
(461.8
)
 
$
627.3

Less: Increase in redemption value of noncontrolling interests in excess of earnings allocated
0.4

 
0.5

 
1.3

 
1.3

Net income (loss) available to ConAgra Foods, Inc. common stockholders
$
(954.5
)
 
$
233.8

 
$
(463.1
)
 
$
626.0

Weighted average shares outstanding:
 
 
 
 
 
 
 
Basic weighted average shares outstanding
427.1

 
421.2

 
425.5

 
421.1

Add: Dilutive effect of stock options, restricted stock unit awards, and other dilutive securities
—

 
6.1

 
—

 
6.3

Diluted weighted average shares outstanding
427.1

 
427.3

 
425.5

 
427.4


For the third quarter and first three quarters of fiscal 2014, there were 3.6 million and 3.0 million stock options outstanding, respectively, that were excluded from the computation of shares contingently issuable upon exercise because exercise prices exceeded the average market value of our common stock during the period.