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

Mar. 30, 2019



	Year Ended March		Three Months Ended March (Transition Period)		Year Ended December
(In thousands, except per share amounts)	2019		2018		2017		2016
Earnings per share — basic:
Income from continuing operations	$	1,259,004	$	261,164	$	721,209	$	1,078,854
Weighted average common shares outstanding	395,189		395,253		399,223		416,103
Earnings per share from continuing operations	$	3.19	$	0.66	$	1.81	$	2.59
Earnings per share — diluted:
Income from continuing operations	$	1,259,004	$	261,164	$	721,209	$	1,078,854
Weighted average common shares outstanding	395,189		395,253		399,223		416,103
Incremental shares from stock options and other dilutive securities	5,307		6,023		4,336		5,978
Adjusted weighted average common shares outstanding	400,496		401,276		403,559		422,081
Earnings per share from continuing operations	$	3.14	$	0.65	$	1.79	$	2.56

Outstanding options to purchase 0.5 million, 6.9 million and 5.8 million shares of Common Stock were excluded from the calculations of diluted earnings per share in the years ended March 2019, December 2017 and December 2016, respectively, because the effect of their inclusion would have been antidilutive to those years. For the three months ended March 2018, all outstanding options to purchase shares were dilutive and included in the calculation of diluted earnings per share. In addition, 0.8 million shares of performance-based RSUs were excluded from the calculations of diluted earnings per share in the year ended March 2019, and 0.9 million shares were excluded in each of the three months ended March 2018 and the years ended December 2017 and 2016 because these units were not considered to be contingent outstanding shares.