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, -------------------------------- 2003 2002 2001 -------- -------- ------- Basic Earnings per Share: - ------------------------- Net income........................... $328.6 $318.5 $236.2 ======== ======== ======= Weighted average number of shares outstanding.......................... 127.3 128.2 123.2 ======== ======== ======= Basic earnings per share............. $2.58 $2.48 $1.92 ======== ======== ======= Diluted Earnings per Share: - --------------------------- Net income........................... $328.6 $318.5 $236.2 Add: interest expense associated with convertible notes, net of tax benefit.............. 9.5 9.1 7.7 -------- -------- ------- Income available to common shareholders....................... $338.1 $327.6 $243.9 ======== ======== ======= Weighted average number of shares outstanding........................ 127.3 128.2 123.2 Effect of dilutive securities: Employee stock options............. 1.3 2.9 3.3 Assumed conversion of convertible notes............................ 7.9 7.9 7.2 -------- -------- ------- 136.5 139.0 133.7 ======== ======== ======= Diluted earnings per share.......... $2.48 $2.36 $1.82 ======== ======== =======