| Earnings Per Share |
Note L — Earnings Per Share
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Three Months |
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Nine Months |
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Ended September |
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Ended September |
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| In thousands, except per share amounts |
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2011 |
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2010 |
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2011 |
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2010 |
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Earnings per share – basic:
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Net income
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$ |
301,412 |
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$ |
243,254 |
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$ |
632,399 |
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$ |
518,203 |
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Net income (loss) attributable to noncontrolling interests
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(712 |
) |
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(467 |
) |
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(1,628 |
) |
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(1,065 |
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Net income attributable to VF Corporation
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$ |
300,700 |
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$ |
242,787 |
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$ |
630,771 |
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$ |
517,138 |
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Weighted average Common Stock outstanding
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109,643 |
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107,881 |
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108,982 |
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109,093 |
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Earnings per common share attributable to VF Corporation common stockholders
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$ |
2.74 |
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$ |
2.25 |
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$ |
5.79 |
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$ |
4.74 |
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Earnings per common share – diluted:
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Net income attributable to VF Corporation
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$ |
300,700 |
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$ |
242,787 |
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$ |
630,771 |
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$ |
517,138 |
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Weighted average Common Stock outstanding
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109,643 |
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107,881 |
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108,982 |
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109,093 |
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Incremental shares from stock options and other dilutive securities
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1,939 |
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1,309 |
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1,847 |
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1,399 |
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Adjusted weighted average Common Stock outstanding
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111,582 |
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109,190 |
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110,829 |
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110,492 |
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Earnings per common share attributable to VF Corporation common stockholders
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$ |
2.69 |
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$ |
2.22 |
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$ |
5.69 |
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$ |
4.68 |
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Outstanding options to purchase approximately 20,000 and 600,000 shares of Common Stock for the three and nine months ended September 2011, respectively, and outstanding options to purchase 2.4 million shares and 2.5 million shares of Common Stock for the three and nine months ended September 2010, respectively, were excluded from the computations of diluted earnings per share because the effect of their inclusion would have been antidilutive. In addition, approximately 300,000 performance-based restricted stock units were excluded from the computation of diluted earnings per share for each of the three and nine month periods ended September 2011 and 2010 because these units have not been earned yet in accordance with the vesting conditions of the plan.
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