Exhibit 11 VF CORPORATION COMPUTATION OF EARNINGS PER SHARE (UNAUDITED) (IN THOUSANDS, EXCEPT PER SHARE DATA)
THREE MONTHS ENDED NINE MONTHS ENDED ---------------------------- ---------------------------- SEPTEMBER 28 SEPTEMBER 30 SEPTEMBER 28 SEPTEMBER 30 1996 1995 1996 1995 ------------ ------------ ------------ ------------ PRIMARY EARNINGS PER SHARE - -------------------------- Net income $ 91,048 $ 69,718 $ 216,870 $ 192,908 Less Preferred Stock dividends and redemption premium 1,054 931 3,305 2,768 ---------- ---------- ---------- ---------- Net income available to common stockholders $ 89,994 $ 68,787 $ 213,565 $ 190,140 ========== ========== ========== ========== Average number of common shares outstanding 63,512 63,891 63,598 63,789 ========== ========== ========== ========== Primary earnings per share $ 1.42 $ 1.08 $ 3.36 $ 2.98 ========== ========== ========== ========== FULLY DILUTED EARNINGS PER SHARE - -------------------------------- Net income $ 91,048 $ 69,718 $ 216,870 $ 192,908 Increased ESOP contribution required if Preferred Stock were converted to Common Stock 334 364 1,004 1,090 ---------- ---------- ---------- ---------- Fully diluted earnings $ 90,714 $ 69,354 $ 215,866 $ 191,818 ========== ========== ========== ========== Average number of common shares outstanding 63,512 63,891 63,598 63,789 Additional common equivalent shares resulting from: Conversion of Preferred Stock 1,516 1,582 1,536 1,591 Dilutive effect of stock options and restricted shares 413 372 433 445 ---------- ---------- ---------- ---------- Average number of common and common equivalent shares 65,441 65,845 65,567 65,825 ========== ========== ========== ========== Fully diluted earnings per share $ 1.39 $ 1.05 $ 3.29 $ 2.91 ========== ========== ========== ==========
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