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

Sep. 29, 2018



	Three Months Ended September				Six Months Ended September

(In thousands, except per share amounts)	2018		2017		2018		2017
Earnings per share – basic:
Income from continuing operations	$	507,121	$	473,820	$	667,074	$	580,912
Weighted average common shares outstanding	395,892		393,258		395,029		395,161
Earnings per share from continuing operations	$	1.28	$	1.20	$	1.69	$	1.47
Earnings per share – diluted:
Income from continuing operations	$	507,121	$	473,820	$	667,074	$	580,912
Weighted average common shares outstanding	395,892		393,258		395,029		395,161
Incremental shares from stock options and other dilutive securities	6,047		4,126		5,715		3,787
Adjusted weighted average common shares outstanding	401,939		397,384		400,744		398,948
Earnings per share from continuing operations	$	1.26	$	1.19	$	1.66	$	1.46

Outstanding options to purchase approximately 20,000 and 10,000 shares were excluded from the calculations of diluted earnings per share for the three and six-month periods ended September 2018, respectively, and outstanding options to purchase 4.9 million and 7.6 million shares were excluded from the calculations of diluted earnings per share for the three and six-month periods ended September 2017, respectively, because the effect of their inclusion would have been antidilutive.

In addition, 0.9 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 September 2018, and 1.1 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 September 2017, because these units were not considered to be contingent outstanding shares in those periods.