Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

v2.4.0.8
Earnings Per Share
 6 Months Ended
Jun. 29, 2013
Earnings Per Share

Note M — Earnings Per Share

 

In thousands, except per share amounts    Three Months Ended June     Six Months Ended June  
     2013      2012     2013      2012  

Earnings per share – basic:

           

Net income

    $ 138,274       $ 155,425      $ 408,691       $ 370,652   

Net (income) loss attributable to noncontrolling interests

      —           (128 )      —           (139 ) 
  

 

 

     

 

 

    

 

 

     

 

 

  

Net income attributable to VF Corporation

    $ 138,274       $ 155,297      $ 408,691       $ 370,513   
  

 

 

     

 

 

    

 

 

     

 

 

  

Weighted average common shares outstanding

      109,274         109,216        109,671         109,874   
  

 

 

     

 

 

    

 

 

     

 

 

  

Earnings per common share attributable to VF Corporation common stockholders

    $ 1.27       $ 1.42      $ 3.73       $ 3.37   
  

 

 

     

 

 

    

 

 

     

 

 

  

Earnings per share – diluted:

           

Net income attributable to VF Corporation

    $ 138,274       $ 155,297      $ 408,691       $ 370,513   
  

 

 

     

 

 

    

 

 

     

 

 

  

Weighted average common shares outstanding

      109,274         109,216        109,671         109,874   

Incremental shares from stock options and other dilutive securities

      2,205         2,012        2,055         2,118   
  

 

 

     

 

 

    

 

 

     

 

 

  

Adjusted weighted average common shares outstanding

      111,479         111,228        111,726         111,992   
  

 

 

     

 

 

    

 

 

     

 

 

  

Earnings per common share attributable to VF Corporation common stockholders

    $ 1.24       $ 1.40      $ 3.66       $ 3.31   
  

 

 

     

 

 

    

 

 

     

 

 

  

For the quarter ended June 2013, all outstanding options to purchase Common Stock were dilutive and included in the calculation of diluted earnings per share. For the quarter ended June 2012, outstanding options to purchase 0.9 million shares of Common Stock were excluded from the computations of diluted earnings per share because the effect of their inclusion would have been antidilutive. Outstanding options to purchase 0.5 and 0.9 million shares of Common Stock for the six month periods ended June 2013 and 2012, respectively, were excluded from the computations of diluted earnings per share because the effect of their inclusion would have been antidilutive. In addition, 0.4 million performance-based restricted stock units were excluded from the computation of diluted earnings per share for the three and six month periods ended June 2013 and June 2012 because these units have not yet been earned in accordance with the vesting conditions of the plan.