VF Corporation Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

EARNINGS PER SHARE

EARNINGS PER SHARE

12 Months Ended

Apr. 01, 2023


	Year Ended March

(In thousands, except per share amounts)	2023		2022		2021
Earnings per share — basic:
Income from continuing operations	$	118,584	$	1,216,269	$	354,906
Weighted average common shares outstanding	387,763		390,291		389,655
Earnings per share from continuing operations	$	0.31	$	3.12	$	0.91
Earnings per share — diluted:
Income from continuing operations	$	118,584	$	1,216,269	$	354,906
Weighted average common shares outstanding	387,763		390,291		389,655
Incremental shares from stock options and other dilutive securities	607		2,120		2,466
Adjusted weighted average common shares outstanding	388,370		392,411		392,121
Earnings per share from continuing operations	$	0.31	$	3.10	$	0.91

Outstanding options to purchase approximately 9.3 million, 3.2 million and 3.4 million shares of Common Stock were excluded from the calculations of diluted earnings per share in the years ended March 2023, 2022 and 2021, respectively, because the effect of their inclusion would have been antidilutive to those years. In addition, 0.6 million, 0.5 million and 0.6 million shares of performance-based RSUs were excluded from the calculations of diluted earnings per share in the years ended March 2023, 2022 and 2021, respectively, because these units were not considered to be contingent outstanding shares in those years.