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EARNINGS (LOSS) PER SHARE
 9 Months Ended
Feb. 28, 2016
Earnings Per Share [Abstract]  
EARNINGS (LOSS) PER SHARE
EARNINGS (LOSS) PER SHARE
Basic earnings (loss) per share is calculated on the basis of weighted average outstanding common shares. Diluted earnings (loss) 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 (loss) per share:
 
Thirteen weeks ended
 
Thirty-nine weeks ended
 
February 28,
2016
 
February 22,
2015
 
February 28,
2016
 
February 22,
2015
Net income (loss) available to ConAgra Foods, Inc. common stockholders:
 
 
 
 
 
 
 
Income from continuing operations attributable to ConAgra Foods, Inc. common stockholders
$
185.9

 
$
210.9

 
$
513.3

 
$
516.3

Income (loss) from discontinued operations, net of tax, attributable to ConAgra Foods, Inc. common stockholders
18.7

 
(1,165.0
)
 
(1,307.9
)
 
(978.1
)
Net income (loss) attributable to ConAgra Foods, Inc. common stockholders
$
204.6

 
$
(954.1
)
 
$
(794.6
)
 
$
(461.8
)
Less: Increase in redemption value of noncontrolling interests in excess of earnings allocated
3.5

 
0.4

 
4.4

 
1.3

Net income (loss) available to ConAgra Foods, Inc. common stockholders
$
201.1

 
$
(954.5
)
 
$
(799.0
)
 
$
(463.1
)
Weighted average shares outstanding:
 
 
 
 
 
 
 
Basic weighted average shares outstanding
435.7

 
427.1

 
433.3

 
425.5

Add: Dilutive effect of stock options, restricted stock unit awards, and other dilutive securities
3.9

 
5.2

 
4.3

 
5.3

Diluted weighted average shares outstanding
439.6

 
432.3

 
437.6

 
430.8


For the third quarter and first three quarters of fiscal 2016, there were 1.2 million and 0.9 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. For the third quarter and first three quarters of fiscal 2015, there were no stock options outstanding excluded from the calculation.