EXHIBIT 11
VF CORPORATION
COMPUTATION OF EARNINGS PER SHARE
(IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)
FISCAL YEAR ENDED
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DECEMBER 31 JANUARY 1 JANUARY 2
1994 1994 1993
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PRIMARY EARNINGS PER SHARE
Net Income $ 274,536 $ 246,415 $ 237,031
Less preferred stock dividends 3,430 3,094 4,335
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Net income available to
common stockholders $ 271,106 $ 243,321 $ 232,696
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Average number of common
shares outstanding 64,620 64,011 58,608
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Primary earnings per share $4.20 $3.80 $3.97
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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
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Fully diluted earnings $ 273,028 $ 244,848 $ 234,543
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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
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Average number of common and common
equivalent shares 66,594 66,025 60,988
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Fully diluted earnings per share $4.10 $3.71 $3.85
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