Exhibit 11
VF CORPORATION
COMPUTATION OF EARNINGS PER SHARE
(IN THOUSANDS, EXCEPT PER SHARE DATA)
THREE MONTHS ENDED SIX MONTHS ENDED
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JULY 1 JULY 2 JULY 1 JULY 2
1995 1994 1995 1994
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PRIMARY EARNINGS PER SHARE
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Net income $ 65,237 $ 58,916 $ 123,190 $ 111,814
Less preferred stock dividends and redemption premium 927 785 1,837 1,568
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Net income available to common stockholders $ 64,310 $ 58,131 $ 121,353 $ 110,246
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Average number of common shares outstanding 63,509 64,645 63,765 64,589
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Primary earnings per share $ 1.01 $ 0.90 $ 1.90 $ 1.71
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FULLY DILUTED EARNINGS PER SHARE
--------------------------------
Net income $ 65,237 $ 58,916 $ 123,190 $ 111,814
Increased ESOP contribution required if preferred stock
were converted to common 362 379 725 758
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Fully diluted earnings $ 64,875 $ 58,537 $ 122,465 $ 111,056
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Average number of common shares outstanding 63,509 64,645 63,765 64,589
Additional common equivalent shares resulting from:
Conversion of preferred stock 1,590 1,627 1,595 1,630
Dilutive effect of stock options and restricted shares 425 321 444 334
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Average number of common and common equivalent
shares 65,524 66,593 65,804 66,553
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Fully diluted earnings per share $ 0.99 $ 0.88 $ 1.86 $ 1.67
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11