EXHIBIT 11 VF CORPORATION COMPUTATION OF EARNINGS PER SHARE (IN THOUSANDS, EXCEPT PER SHARE DATA)
THREE MONTHS ENDED SIX MONTHS ENDED ------------------- ------------------ JULY 2 JULY 3 JULY 2 JULY 3 1994 1993 1994 1993 ---------- ---------- ---------- ---------- PRIMARY EARNINGS PER SHARE - - -------------------------- Net income $58,916 $55,731 $111,814 $108,460 Less preferred stock dividends 785 780 1,568 1,556 ------- ------- -------- -------- Net income available to common stockholders $58,131 $54,951 $110,246 $106,904 ======= ======= ======== ======== Average number of common shares outstanding 64,645 64,327 64,589 63,586 ====== ====== ====== ====== Primary earnings per share $0.90 $0.85 $1.71 $1.68 ===== ===== ===== ===== FULLY DILUTED EARNINGS PER SHARE - - -------------------------------- Net income $58,916 $55,731 $111,814 $108,460 Increased ESOP contribution required if preferred stock were converted to common 379 397 758 793 ------- ------- -------- -------- Fully diluted earnings $58,537 $55,334 $111,056 $107,667 ======= ======= ======== ======== Average number of common shares outstanding 64,645 64,327 64,589 63,586 Additional common equivalent shares resulting from: Conversion of preferred stock 1,627 1,650 1,630 1,652 Dilutive effect of stock options 321 381 334 419 ------ ------ ------ ------ Average number of common and common equivalent shares 66,593 66,358 66,553 65,657 ====== ====== ====== ====== Fully diluted earnings per share $0.88 $0.83 $1.67 $1.64 ===== ===== ===== =====
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