Exhibit 11 VF CORPORATION COMPUTATION OF EARNINGS PER SHARE (IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)
FISCAL YEAR ENDED =========================================== JANUARY 4 DECEMBER 30 DECEMBER 31 1997 1995 1994 ============ ============ ============ PRIMARY EARNINGS PER SHARE Net income $299,524 $157,291 $274,536 Less Preferred Stock dividends and redemption premium 4,407 3,683 3,430 -------- -------- -------- Net income available to common stockholders $295,117 $153,608 $271,106 ======== ======== ======== Average number of common shares outstanding 63,646 63,743 64,620 ======== ======== ======== Primary earnings per share $4.64 $2.41 $4.20 ======== ======== ======== FULLY DILUTED EARNINGS PER SHARE Net income $299,524 $157,291 $274,536 Increased ESOP contribution required if Preferred Stock were converted to Common Stock 1,318 1,430 1,508 -------- -------- -------- Fully diluted earnings $298,206 $155,861 $273,028 ======== ======== ======== Average number of common shares outstanding 63,646 63,743 64,620 Additional common equivalent shares resulting from: Conversion of Preferred Stock 1,528 1,586 1,623 Dilutive effect of stock options and restricted shares 533 409 351 -------- -------- -------- Average number of common and common equivalent shares 65,707 65,738 66,594 ======== ======== ======== Fully diluted earnings per share $4.54 $2.37 $4.10 ======== ======== ========