VF Corporation Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

EARNINGS PER SHARE

EARNINGS PER SHARE

6 Months Ended

Sep. 28, 2019



	Three Months Ended September				Six Months Ended September

(In thousands, except per share amounts)	2019		2018		2019		2018
Earnings per share – basic:
Income from continuing operations	$	649,001	$	416,124	$	746,250	$	477,488
Weighted average common shares outstanding	397,751		395,892		397,239		395,029
Earnings per share from continuing operations	$	1.63	$	1.05	$	1.88	$	1.21
Earnings per share – diluted:
Income from continuing operations	$	649,001	$	416,124	$	746,250	$	477,488
Weighted average common shares outstanding	397,751		395,892		397,239		395,029
Incremental shares from stock options and other dilutive securities	4,510		6,047		4,849		5,715
Adjusted weighted average common shares outstanding	402,261		401,939		402,088		400,744
Earnings per share from continuing operations	$	1.61	$	1.04	$	1.86	$	1.19

Outstanding options to purchase approximately 1.5 million shares were excluded from the calculations of diluted earnings per share for both the three and six-month periods ended September 2019, and outstanding options to purchase approximately 20,000 and 0.9 million shares were excluded from the calculations of diluted earnings per share for the three and six-month periods ended September 2018, respectively, because the effect of their inclusion would have been anti-dilutive.

In addition, 0.8 million shares of performance-based RSUs were excluded from the calculations of diluted earnings per share for both the three and six-month periods ended September 2019, and 0.9 million shares of performance-based RSUs were excluded from the calculations of diluted earnings per share for both the three and six-month periods ended September 2018, because these units were not considered to be contingent outstanding shares in those periods.