Exhibit 11
VF CORPORATION
COMPUTATION OF EARNINGS PER SHARE
(UNAUDITED)
(IN THOUSANDS, EXCEPT PER SHARE DATA)
THREE MONTHS ENDED SIX MONTHS ENDED
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JUNE 29 JULY 1 JUNE 29 JULY 1
1996 1995 1996 1995
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PRIMARY EARNINGS PER SHARE
Net income $ 69,892 $ 65,237 $ 125,822 $ 123,190
Less Preferred Stock dividends and redemption
premium 1,127 927 2,251 1,837
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Net income available to common stockholders $ 68,765 $ 64,310 $ 123,571 $ 121,353
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Average number of common shares outstanding 63,719 63,509 63,641 63,765
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Primary earnings per share $ 1.08 $ 1.01 $ 1.94 $ 1.90
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FULLY DILUTED EARNINGS PER SHARE
Net income $ 69,892 $ 65,237 $ 125,822 $ 123,190
Increased ESOP contribution required if Preferred
Stock were converted to Common Stock 334 362 670 725
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Fully diluted earnings $ 69,558 $ 64,875 $ 125,152 $ 122,465
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Average number of common shares outstanding 63,719 63,509 63,641 63,765
Additional common equivalent shares resulting from:
Conversion of Preferred Stock 1,529 1,590 1,546 1,595
Dilutive effect of stock options and restricted
shares 419 425 419 444
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Average number of common and common equivalent
shares 65,667 65,524 65,606 65,804
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Fully diluted earnings per share $ 1.06 $ 0.99 $ 1.91 $ 1.86
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