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

Oct. 02, 2021


	Three Months Ended September				Six Months Ended September

(In thousands, except per share amounts)	2021		2020		2021		2020
Earnings (loss) per share – basic:
Income (loss) from continuing operations	$	464,053	$	243,246	$	618,025	$	(34,496)
Weighted average common shares outstanding	391,779		389,219		391,565		388,957
Earnings (loss) per share from continuing operations	$	1.18	$	0.62	$	1.58	$	(0.09)
Earnings (loss) per share – diluted:
Income (loss) from continuing operations	$	464,053	$	243,246	$	618,025	$	(34,496)
Weighted average common shares outstanding	391,779		389,219		391,565		388,957
Incremental shares from stock options and other dilutive securities	2,238		1,961		2,507		2,029
Adjusted weighted average common shares outstanding	394,017		391,180		394,072		390,986
Earnings (loss) per share from continuing operations	$	1.18	$	0.62	$	1.57	$	(0.09)

Outstanding options to purchase approximately 2.8 million shares were excluded from the calculations of diluted earnings per share for both the three and six-month periods ended September 2021, and outstanding options to purchase approximately 5.4 million shares were excluded from the calculations of diluted earnings per share for both the three and six-month periods ended September 2020, because the effect of their inclusion would have been anti-dilutive.

In addition, 0.6 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 2021, and 0.8 million and 0.6 million shares of performance-based RSUs were excluded from the calculations of diluted earnings per share for the three and six-month periods ended September 2020, respectively, because these units were not considered to be contingent outstanding shares in those periods.