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

Dec. 31, 2016



	2016		2015		2014
	In thousands, except per share amounts
Earnings per share — basic:
Income from continuing operations	$	1,172,527	$	1,315,131	$	1,327,749
Weighted average common shares outstanding	416,103		425,408		432,611
Earnings per share from continuing operations	$	2.82	$	3.09	$	3.07
Earnings per share — diluted:
Income from continuing operations	$	1,172,527	$	1,315,131	$	1,327,749
Weighted average common shares outstanding	416,103		425,408		432,611
Incremental shares from stock options and other dilutive securities	5,978		6,671		7,542
Adjusted weighted average common shares outstanding	422,081		432,079		440,153
Earnings per share from continuing operations	$	2.78	$	3.04	$	3.02

Outstanding options to purchase 5.8 million, 2.4 million and 1.4 million shares of Common Stock were excluded from the calculations of diluted earnings per share in 2016, 2015 and 2014, respectively, because the effect of their inclusion would have been antidilutive to those years. In addition, 0.9 million, 0.9 million and 1.1 million shares of performance-based RSUs were excluded from the calculations of diluted earnings per share in 2016, 2015 and 2014, respectively, because these units were not considered to be contingent outstanding shares.