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

6 Months Ended

Jul. 02, 2016

Note M – Earnings Per Share


	Three Months Ended June				Six Months Ended June
In thousands, except per share amounts	2016		2015		2016		2015
Earnings per share – basic:
Net income from continuing operations	$	148,294	$	167,842	$	405,160	$	450,967

Weighted average common shares outstanding		415,991		424,349		418,870		425,305

Earnings per share from continuing operations	$	0.35	$	0.39	$	0.96	$	1.06

Earnings per share – diluted:
Net income from continuing operations	$	148,294	$	167,842	$	405,160	$	450,967

Weighted average common shares outstanding		415,991		424,349		418,870		425,305
Incremental shares from stock options and other dilutive securities		6,068		6,354		6,726		7,102

Adjusted weighted average common shares outstanding		422,059		430,703		425,596		432,407

Earnings per share from continuing operations	$	0.35	$	0.39	$	0.95	$	1.04

Outstanding options to purchase 5.4 million shares of Common Stock were excluded from the calculations of diluted earnings per share for both the three and six-month periods ended June 2016, and options to purchase 2.4 million shares were excluded from the calculations of diluted earnings per share for both the three and six-month periods ended June 2015, because the effect of their inclusion would have been antidilutive to those periods. In addition, 1.0 million and 1.1 million shares of performance-based RSUs were excluded from the calculations of diluted earnings per share for the three and six-month periods ended June 2016, respectively, and 1.0 million shares of performance-based RSUs were excluded from the calculations of diluted earnings per share for both the three and six-month periods ended June 2015, because these units were not considered to be contingent outstanding shares in those periods.