Exhibit 11
CONAGRA, INC. AND SUBSIDIARIES
Computation of Income Per Share
(In millions, except per share amounts)
Fiscal Year Ended
52/53
May 31, May 30, May 29, May 28, May 26,
1992 1993 1994 1995 1996
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Computation of income per
common and common
equivalent share:
Income before cumulative
effect of change in
accounting principle $372.4 $391.5 $437.1 $495.6 $188.9
Less preferred dividends 24.5 24.0 24.0 24.0 8.6
------ ------ ------ ------ ------
Income available to common
stock before cumulative
effect of change
in accounting principle 347.9 367.5 413.1 471.6 180.3
Cumulative effect of change
in accounting principle - (121.2) - - -
------ ------ ------ ------ ------
Income available to common
stock $347.9 $246.3 $413.1 $471.6 $180.3
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Weighted average common
shares outstanding 227.9 230.3 226.7 226.5 225.7
Add shares applicable to
stock options using
average market price 4.0 2.7 1.8 2.5 3.8
------ ------ ------ ------ ------
Average common and common
equivalent shares
outstanding 231.9 233.0 228.5 229.0 229.5
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Income per common and common
equivalent share:
Before cumulative effect of
change in accounting
principle $ 1.50 $ 1.58 $ 1.81 $ 2.06 $ .79
Cumulative effect of
change in
accounting principle - (0.52) - - -
------ ------ ------ ------ ------
Net Income $ 1.50 $ 1.06 $ 1.81 $ 2.06 $ .79
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Computation of income
per common share
assuming full dilution:
Income available to
common stock before
cumulative effect of
change in accounting
principle $347.9 $367.5 $413.1 $471.6 $180.3
Add dividends on
convertible preferred
stock 24.5 24.0 24.0 24.0 8.6
------ ------ ------ ------ ------
Net income available to
common stock before
cumulative effect of
change in accounting
principle assuming
full dilution 372.4 391.5 437.1 495.6 188.9
Cumulative effect of
change in accounting
principle - (121.2) - - -
------ ------ ------ ------ ------
Net income applicable
to common stock assuming
full dilution $372.4 $270.3 $437.1 $495.6 $188.9
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Exhibit 11 (Continued)
Fiscal Year Ended
52/53 Weeks
May 31, May 30, May 29, May 28, May 26,
1992 1993 1994 1995 1996
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Weighted average common
shares outstanding 227.9 230.3 226.7 226.5 225.7
Add shares assumed
issued for convertible
preferred stock 14.8 14.7 14.6 14.6 5.6
Add shares applicable to
stock options using
the period-end market
price if higher than
average market price 4.0 2.8 1.9 3.1 4.0
------ ------ ------ ------ ------
Average common and common
equivalent shares
assuming full dilution 246.7 247.8 243.2 244.2 235.3
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Income per common share
assuming full dilution:
Before cumulative effect
of change in accounting
principle $ 1.51 $ 1.58 $ 1.80 $ 2.03 $ .80
Cumulative effect of
change in accounting
principle - (0.49) - - -
------ ------ ------ ------ ------
Net Income $ 1.51 $ 1.09 $ 1.80 $ 2.03 $ .80
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