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. 01, 2022


	Three Months Ended September				Six Months Ended September

(In thousands, except per share amounts)	2022		2021		2022		2021
Earnings (loss) per share – basic:
Income (loss) from continuing operations	$	(118,432)	$	464,053	$	(174,392)	$	618,025
Weighted average common shares outstanding	387,688		391,779		387,625		391,565
Earnings (loss) per share from continuing operations	$	(0.31)	$	1.18	$	(0.45)	$	1.58
Earnings (loss) per share – diluted:
Income (loss) from continuing operations	$	(118,432)	$	464,053	$	(174,392)	$	618,025
Weighted average common shares outstanding	387,688		391,779		387,625		391,565
Incremental shares from stock options and other dilutive securities	—		2,238		—		2,507
Adjusted weighted average common shares outstanding	387,688		394,017		387,625		394,072
Earnings (loss) per share from continuing operations	$	(0.31)	$	1.18	$	(0.45)	$	1.57

In both the three and six-month periods ended September 2022, the dilutive impact of outstanding options and other securities were excluded from dilutive shares as a result of the Company's net loss for the periods and, as such, their inclusion would have been anti-dilutive. 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, 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, because these units were not considered to be contingent outstanding shares in those periods.