EXHIBIT 11 VF CORPORATION COMPUTATION OF EARNINGS PER SHARE (IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)
FISCAL YEAR ENDED -------------------------------------- DECEMBER 31 JANUARY 1 JANUARY 2 1994 1994 1993 ----------- --------- --------- PRIMARY EARNINGS PER SHARE Net Income $ 274,536 $ 246,415 $ 237,031 Less preferred stock dividends 3,430 3,094 4,335 --------- --------- --------- Net income available to common stockholders $ 271,106 $ 243,321 $ 232,696 ========= ========= ========= Average number of common shares outstanding 64,620 64,011 58,608 ========= ========= ========= Primary earnings per share $4.20 $3.80 $3.97 ========= ========= ========= FULLY DILUTED EARNINGS PER SHARE Net income $ 274,536 $ 246,415 $ 237,031 Increased ESOP contribution required if preferred stock were converted to common 1,508 1,567 2,488 --------- --------- --------- Fully diluted earnings $ 273,028 $ 244,848 $ 234,543 ========= ========= ========= Average number of common shares outstanding 64,620 64,011 58,608 Additional common equivalent shares resulting from: Conversion of preferred stock 1,623 1,647 1,664 Dilutive effect of stock options 351 367 716 --------- --------- --------- Average number of common and common equivalent shares 66,594 66,025 60,988 ========= ========= ========= Fully diluted earnings per share $4.10 $3.71 $3.85 ========= ========= =========