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

Annual report pursuant to Section 13 and 15(d)

EARNINGS (LOSS) PER SHARE

EARNINGS (LOSS) PER SHARE

12 Months Ended

Mar. 30, 2024


	Year Ended March

(In thousands, except per share amounts)	2024		2023		2022
Earnings (loss) per share — basic:
Income (loss) from continuing operations	$	(968,882)	$	118,584	$	1,216,269
Weighted average common shares outstanding	388,360		387,763		390,291
Earnings (loss) per share from continuing operations	$	(2.49)	$	0.31	$	3.12
Earnings (loss) per share — diluted:
Income (loss) from continuing operations	$	(968,882)	$	118,584	$	1,216,269
Weighted average common shares outstanding	388,360		387,763		390,291
Incremental shares from stock options and other dilutive securities	—		607		2,120
Adjusted weighted average common shares outstanding	388,360		388,370		392,411
Earnings (loss) per share from continuing operations	$	(2.49)	$	0.31	$	3.10

In the year ended March 2024, the dilutive impacts of all outstanding stock options and other dilutive securities were excluded from dilutive shares as a result of the Company's net loss for the period and, as such, their inclusion would have been anti-dilutive. As a result, a total of 19.0 million potentially dilutive shares related to stock options and other dilutive securities were excluded from the diluted loss per share calculation for the year ended March 2024.

Outstanding stock options and other dilutive securities of approximately 9.7 million and 3.3 million shares were excluded

from the calculations of diluted earnings per share for the years ended March 2023 and 2022, respectively, because the effect of their inclusion would have been anti-dilutive to those years. In addition, 0.6 million and 0.5 million shares of performance-based RSUs were excluded from the calculations of diluted earnings per share for the years ended March 2023 and 2022, respectively, because these units were not considered to be contingent outstanding shares in those years.