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

Jan. 01, 2022


	Three Months Ended December				Nine Months Ended December

(In thousands, except per share amounts)	2021		2020		2021		2020
Earnings per share – basic:
Income from continuing operations	$	517,801	$	327,659	$	1,135,826	$	293,163
Weighted average common shares outstanding	390,430		389,872		391,187		389,262
Earnings per share from continuing operations	$	1.33	$	0.84	$	2.90	$	0.75
Earnings per share – diluted:
Income from continuing operations	$	517,801	$	327,659	$	1,135,826	$	293,163
Weighted average common shares outstanding	390,430		389,872		391,187		389,262
Incremental shares from stock options and other dilutive securities	2,065		2,979		2,360		2,345
Adjusted weighted average common shares outstanding	392,495		392,851		393,547		391,607
Earnings per share from continuing operations	$	1.32	$	0.83	$	2.89	$	0.75

Outstanding options to purchase approximately 2.8 million shares were excluded from the calculations of diluted earnings per share for both the three and nine-month periods ended December 2021, and outstanding options to purchase approximately 1.5 million and 4.1 million shares were excluded from the calculations of diluted earnings per share for the three and nine-month periods ended December 2020, respectively, because the effect of their inclusion would have been anti-dilutive.

In addition, 0.6 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 2021, and 0.8 million and 0.6 million shares of performance-based RSUs were excluded from the calculations of diluted earnings per share for the three and nine-month periods ended December 2020, respectively, because these units were not considered to be contingent outstanding shares in those periods.