EXHIBIT 11
JONES APPAREL GROUP, INC. Computation of Basic and Diluted Earnings per Share (In millions except per share amounts)
For the Year Ended December 31, -------------------------------- 2001 2000 1999 -------- -------- ------- Basic Earnings per Share: - ------------------------- Net income........................... $236.2 $301.9 $188.4 ======== ======== ======= Weighted average number of shares outstanding.......................... 123.2 119.0 114.1 ======== ======== ======= Basic earnings per share............. $1.92 $2.54 $1.65 ======== ======== ======= Diluted Earnings per Share: - --------------------------- Net income........................... $236.2 $301.9 $188.4 Add: interest expense associated with convertible notes, net of tax benefit.............. 7.7 - - -------- -------- ------- Income available to common shareholders....................... $243.9 $301.9 $188.4 ======== ======== ======= Weighted average number of shares outstanding........................ 123.2 119.0 114.1 Effect of dilutive securities: Employee stock options............. 3.3 2.9 3.9 Assumed conversion of convertible notes............................ 7.2 - - -------- -------- ------- 133.7 121.9 118.0 ======== ======== ======= Diluted earnings per share.......... $1.82 $2.48 $1.60 ======== ======== =======