EARNINGS (LOSS) PER SHARE

3 Months Ended

Aug. 28, 2016

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
	August 28, 2016		August 30, 2015
Net income (loss) available to ConAgra Foods, Inc. common stockholders:
Income from continuing operations attributable to ConAgra Foods, Inc. common stockholders	$	184.7	$	165.7
Income (loss) from discontinued operations, net of tax, attributable to ConAgra Foods, Inc. common stockholders	1.5		(1,319.8		)
Net income (loss) attributable to ConAgra Foods, Inc. common stockholders	$	186.2	$	(1,154.1	)
Less: Increase in redemption value of noncontrolling interests in excess of earnings allocated	0.5		0.4
Net income (loss) available to ConAgra Foods, Inc. common stockholders	$	185.7	$	(1,154.5	)
Weighted average shares outstanding:
Basic weighted average shares outstanding	439.0		430.7
Add: Dilutive effect of stock options, restricted stock unit awards, and other dilutive securities	3.7		5.0
Diluted weighted average shares outstanding	442.7		435.7

For the first quarter of fiscal 2017 and 2016, there were 0.7 million and 0.4 million stock options outstanding, respectively, that were excluded from the computation of shares contingently issuable upon exercise primarily because exercise prices exceeded the average market value of our common stock during the period.