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

9 Months Ended

Dec. 28, 2019



	Three Months Ended December				Nine Months Ended December

(In thousands, except per share amounts)	2019		2018		2019		2018
Earnings per share – basic:
Income from continuing operations	$	452,747	$	409,120	$	1,198,997	$	886,608
Weighted average common shares outstanding	395,940		395,294		396,806		395,117
Earnings per share from continuing operations	$	1.14	$	1.03	$	3.02	$	2.24
Earnings per share – diluted:
Income from continuing operations	$	452,747	$	409,120	$	1,198,997	$	886,608
Weighted average common shares outstanding	395,940		395,294		396,806		395,117
Incremental shares from stock options and other dilutive securities	4,382		4,473		4,693		5,301
Adjusted weighted average common shares outstanding	400,322		399,767		401,499		400,418
Earnings per share from continuing operations	$	1.13	$	1.02	$	2.99	$	2.21

Outstanding options to purchase approximately 1.5 million shares were excluded from the calculations of diluted earnings per share for both the three and nine-month periods ended December 2019, and outstanding options to purchase approximately 0.1 million and 0.6 million shares were excluded from the calculations of diluted earnings per share for the three and nine-month periods ended December 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 nine-month periods ended December 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 nine-month periods ended December 2018, because these units were not considered to be contingent outstanding shares in those periods.