Exhibit 11
VF CORPORATION
COMPUTATION OF EARNINGS PER SHARE
(IN THOUSANDS, EXCEPT PER SHARE DATA)
THREE MONTHS ENDED SIX MONTHS ENDED
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JULY 5 JUNE 29 JULY 5 JUNE 29
1997 1996 1997 1996
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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
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Net income available to
common stockholders $ 77,746 $ 68,765 $ 146,822 $ 123,571
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Average number of common
shares outstanding 63,693 63,719 63,828 63,641
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Primary earnings per share $1.22 $1.08 $2.30 $1.94
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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
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Fully diluted earnings $ 78,592 $ 69,558 $ 148,466 $ 125,152
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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
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Average number of common and
common equivalent shares 65,960 65,667 66,092 65,606
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Fully diluted earnings per share $1.19 $1.06 $2.25 $1.91
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11