Exhibit 11 VF CORPORATION COMPUTATION OF EARNINGS PER SHARE (IN THOUSANDS, EXCEPT PER SHARE DATA)
THREE MONTHS ENDED SIX MONTHS ENDED ------------------------------- ------------------------------ JULY 5 JUNE 29 JULY 5 JUNE 29 1997 1996 1997 1996 ------------- ------------- ------------- ----------- PRIMARY EARNINGS PER SHARE Net income $ 78,904 $ 69,892 $ 149,090 $ 125,822 Less Preferred Stock dividends and redemption premium 1,158 1,127 2,268 2,251 ------------- ------------- ------------- ----------- Net income available to common stockholders $ 77,746 $ 68,765 $ 146,822 $ 123,571 ============= ============= ============= =========== Average number of common shares outstanding 63,693 63,719 63,828 63,641 ============= ============= ============= =========== Primary earnings per share $1.22 $1.08 $2.30 $1.94 ============= ============= ============= =========== FULLY DILUTED EARNINGS PER SHARE Net income $ 78,904 $ 69,892 $ 149,090 $ 125,822 Increased ESOP contribution required if Preferred Stock were converted to Common Stock 312 334 624 670 ------------- ------------- ------------- ----------- Fully diluted earnings $ 78,592 $ 69,558 $ 148,466 $ 125,152 ============= ============= ============= =========== Average number of common shares outstanding 63,693 63,719 63,828 63,641 Additional common equivalent shares resulting from: Conversion of Preferred Stock 1,483 1,529 1,489 1,546 Dilutive effect of stock options 784 419 775 419 ------------- ------------- ------------- ----------- Average number of common and common equivalent shares 65,960 65,667 66,092 65,606 ============= ============= ============= =========== Fully diluted earnings per share $1.19 $1.06 $2.25 $1.91 ============= ============= ============= ===========
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