Exhibit 11 VF CORPORATION COMPUTATION OF EARNINGS PER SHARE (UNAUDITED) (IN THOUSANDS, EXCEPT PER SHARE DATA)
THREE MONTHS ENDED SIX MONTHS ENDED ----------------------------- ------------------------------- JUNE 29 JULY 1 JUNE 29 JULY 1 1996 1995 1996 1995 ------------ ------------ ------------ ------------- 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 ------------ ------------ ------------ ------------- Net income available to common stockholders $ 68,765 $ 64,310 $ 123,571 $ 121,353 ============ ============ ============ ============= Average number of common shares outstanding 63,719 63,509 63,641 63,765 ============ ============ ============ ============= Primary earnings per share $ 1.08 $ 1.01 $ 1.94 $ 1.90 ============ ============ ============ ============= 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 ------------ ------------ ------------ ------------- Fully diluted earnings $ 69,558 $ 64,875 $ 125,152 $ 122,465 ============ ============ ============ ============= 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 ------------ ------------ ------------ ------------- Average number of common and common equivalent shares 65,667 65,524 65,606 65,804 ============ ============ ============ ============= Fully diluted earnings per share $ 1.06 $ 0.99 $ 1.91 $ 1.86 ============ ============ ============ =============
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