Exhibit 11 VF CORPORATION COMPUTATION OF EARNINGS PER SHARE (IN THOUSANDS, EXCEPT PER SHARE DATA)
THREE MONTHS ENDED SIX MONTHS ENDED ---------------------- ------------------------- JULY 1 JULY 2 JULY 1 JULY 2 1995 1994 1995 1994 --------- --------- ---------- ------------ PRIMARY EARNINGS PER SHARE -------------------------- Net income $ 65,237 $ 58,916 $ 123,190 $ 111,814 Less preferred stock dividends and redemption premium 927 785 1,837 1,568 --------- --------- ---------- ----------- Net income available to common stockholders $ 64,310 $ 58,131 $ 121,353 $ 110,246 ========= ========= ========== =========== Average number of common shares outstanding 63,509 64,645 63,765 64,589 ========= ========= ========== =========== Primary earnings per share $ 1.01 $ 0.90 $ 1.90 $ 1.71 ========= ========= ========== =========== 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 --------- --------- ---------- ----------- Fully diluted earnings $ 64,875 $ 58,537 $ 122,465 $ 111,056 ========= ========= ========== =========== 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 --------- --------- ---------- ----------- Average number of common and common equivalent shares 65,524 66,593 65,804 66,553 ========= ========= ========== =========== Fully diluted earnings per share $ 0.99 $ 0.88 $ 1.86 $ 1.67 ========= ========= ========== ===========
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