v3.24.3
EARNINGS PER SHARE
3 Months Ended
Aug. 25, 2024
Earnings Per Share [Abstract]  
EARNINGS PER SHARE EARNINGS PER SHARE
The following table sets forth the computation of basic and diluted earnings per common share for the periods presented:
Thirteen Weeks Ended
(in millions, except per share amounts)August 25,
2024
August 27,
2023
Numerator:
Net income$127.4 $234.8 
Denominator:
Basic weighted average common shares outstanding143.6 145.7
Add: Dilutive effect of employee incentive plans (a)0.6 0.9
Diluted weighted average common shares outstanding144.2 146.6
Earnings per share:
Basic$0.89 $1.61 
Diluted$0.88 $1.60 
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(a)Potential dilutive shares of common stock under employee incentive plans are determined by applying the treasury stock method to the assumed exercise of outstanding stock options and the assumed vesting of outstanding restricted stock units and performance awards. As of August 25, 2024, 0.8 million shares of stock-based awards were excluded from the computation of diluted earnings per share because they would be antidilutive. As of August 27, 2023, 0.2 million shares of stock-based awards were excluded from the computation of diluted earnings per share because they would be antidilutive.