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, -------------------------------- 2002 2001 2000 -------- -------- ------- Basic Earnings per Share: - ------------------------- Net income........................... $318.5 $236.2 $301.9 ======== ======== ======= Weighted average number of shares outstanding.......................... 128.2 123.2 119.0 ======== ======== ======= Basic earnings per share............. $2.48 $1.92 $2.54 ======== ======== ======= Diluted Earnings per Share: - --------------------------- Net income........................... $318.5 $236.2 $301.9 Add: interest expense associated with convertible notes, net of tax benefit.............. 9.1 7.7 - -------- -------- ------- Income available to common shareholders....................... $327.6 $243.9 $301.9 ======== ======== ======= Weighted average number of shares outstanding........................ 128.2 123.2 119.0 Effect of dilutive securities: Employee stock options............. 2.9 3.3 2.9 Assumed conversion of convertible notes............................ 7.9 7.2 - -------- -------- ------- 139.0 133.7 121.9 ======== ======== ======= Diluted earnings per share.......... $2.36 $1.82 $2.48 ======== ======== =======