Conagra Foods Inc/DE – ‘10-K’ for 5/31/98 – EX-11

As of:  Friday, 8/28/98   ·   For:  5/31/98   ·   Accession #:  1047469-98-33094   ·   File #:  1-07275

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Annual Report   —   Form 10-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Annual Report                                         21     86K 
 2: EX-4.3      Instrument Defining the Rights of Security Holders     3     13K 
 4: EX-10.14    Material Contract                                      1      8K 
 5: EX-10.19    Material Contract                                      2±    10K 
 6: EX-10.20    Material Contract                                      3     12K 
 3: EX-10.3     Material Contract                                      8     37K 
 7: EX-11       Statement re: Computation of Earnings Per Share        2     15K 
 8: EX-12       Statement re: Computation of Ratios                    2±    12K 
 9: EX-13       Annual or Quarterly Report to Security Holders        79    350K 
10: EX-21       Subsidiaries of the Registrant                         3     15K 
11: EX-23       Consent of Experts or Counsel                          1      7K 
12: EX-24       Power of Attorney                                     14     22K 
13: EX-27       EX-27 Financial Data Schedule                          2      8K 

EX-11   —   Statement re: Computation of Earnings Per Share

EX-11
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                                                          Exhibit 11
                                                          ----------

    CONAGRA, INC. AND SUBSIDIARIES

   Computation of Income Per Share

     (In millions, except per share amounts)

                                                        [Enlarge/Download Table]


                                                                                       Fiscal Year Ended                        
                                                            ------------------------------------------------------------------- 
                                                                                          52/53 Weeks                           
                                                            ------------------------------------------------------------------- 
                                                            May 29,        May 28,        May 26,        May 25,        May 31, 
                                                             1994           1995           1996           1997           1998   
                                                             ----           ----           ----           ----           ----   
                                                                                                                                
Income per share - basic:                                                                                                       

     Income before cumulative effect of change                                                                                  
          in accounting                                      $437.1         $495.6         $188.9         $615.0         $628.0 
     Less preferred dividends                                  24.0           24.0            8.6            -              -   
                                                             ------         ------         ------         ------         ------ 
     Income available for common stock                                                                                          
          before cumulative effect of change in accounting    413.1          471.6          180.3          615.0          628.0 
     Cumulative effect of change in accounting                  -              -              -              -            (14.8)
                                                             ------         ------         ------         ------         ------ 
     Net income available for common stock                   $413.1         $471.6         $180.3         $615.0         $613.2 
                                                             ------         ------         ------         ------         ------ 
                                                             ------         ------         ------         ------         ------ 

     Weighted average shares outstanding -                                                                                      
          basic                                               453.3          453.0          451.3          451.3          451.8 
                                                             ------         ------         ------         ------         ------ 
                                                             ------         ------         ------         ------         ------ 

     Income per share - basic:                                                                                                  
     Income before cumulative effect                                                                                            
          of change in accounting                            $ 0.91         $ 1.04         $ 0.40         $ 1.36          $1.39 
     Cumulative effect of change in accounting                  -              -              -              -            (0.03)
                                                             ------         ------         ------         ------         ------ 
     Basic income per share                                  $ 0.91         $ 1.04         $ 0.40         $ 1.36          $1.36 
                                                             ------         ------         ------         ------         ------ 
                                                             ------         ------         ------         ------         ------ 

Income per share - diluted:                                                                                                     

     Income available for common stock                                                                                          
          before cumulative effect of change in accounting   $413.1         $471.6         $180.3         $615.0         $628.0 
     Add dividends on convertible preferred                                                                                     
          stock where dilutive                                 24.0           24.0            -              -              -   
                                                             ------         ------         ------         ------         ------ 
     Income available for common stock                                                                                          
          before cumulative effect of change                                                                                    
          in accounting assuming full dilution                437.1          495.6          180.3          615.0          628.0 
     Cumulative effect of change in accounting                  -              -              -              -            (14.8)
                                                             ------         ------         ------         ------         ------ 
     Net income assuming full dilution                       $437.1         $495.6         $180.3         $615.0         $613.2 
                                                             ------         ------         ------         ------         ------ 
                                                             ------         ------         ------         ------         ------ 

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EX-11
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                                                  Exhibit 11 (Continued)
                                                 ---------------------

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                                                                      Fiscal Year Ended                        
                                           ------------------------------------------------------------------- 
                                                                         52/53 Weeks                           
                                           ------------------------------------------------------------------- 
                                           May 29,        May 28,        May 26,        May 25,        May 31, 
                                            1994           1995           1996           1997           1998   
                                            ----           ----           ----           ----           ----   
                                                                                                               
Weighted average shares                                                                                        
     outstanding - basic                     453.3          453.0          451.3          451.3          451.8 
Add shares contingently issuable upon                                                                          
     exercise of stock options                 3.7            4.9            7.6            7.7            9.5 
Add shares assumed issued for                                                                                  
     convertible preferred stock where                                                                         
     dilutive                                 29.3           29.3            -              -              -   
                                            ------         ------         ------         ------         ------ 
Weighted average shares                                                                                        
     outstanding - diluted                   486.3          487.2          458.9          459.0          461.3 
                                            ------         ------         ------         ------         ------ 
                                            ------         ------         ------         ------         ------ 

Income per share - diluted:                                                                                    
Income before cumulative effect of change                                                                      
     in accounting                          $ 0.90         $ 1.02         $ 0.39         $ 1.34         $ 1.36 
Cumulative effect of change in accounting      -              -              -              -            (0.03)
                                            ------         ------         ------         ------         ------ 
Diluted income per share                    $ 0.90         $ 1.02         $ 0.39         $ 1.34         $ 1.33 
                                            ------         ------         ------         ------         ------ 
                                            ------         ------         ------         ------         ------ 

Note 1:   1996 includes nonrecurring charges of $.79 and $.78 for basic and     
diluted income per share, respectively.                     

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