EXHIBIT 11
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THE LIMITED, INC. AND SUBSIDIARIES
RESTATED COMPUTATION OF PER SHARE EARNINGS
(Thousands except per share amounts)
Quarter Ended
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January 30, January 31,
1999 1998
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Net income $228,174 $67,448
Less: impact of IBI dilutive options and restricted
stock on consolidated income* (2,245) (197)
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Adjusted net income $225,929 $67,251
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Common shares outstanding:
Weighted average 379,454 379,454
Dilutive effect of stock options 5,436 4,165
Weighted average treasury shares (153,107) (106,900)
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Weighted average used to calculate
net income per diluted share 231,783 276,719
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Net income per diluted share $0.97 $0.24
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Year Ended
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January 30, January 31,
1999 1998
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Net income $2,046,494 $211,653
Less: impact of IBI dilutive options and restricted
stock on consolidated income* (4,009) (144)
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Adjusted net income $2,042,485 $211,509
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Common shares outstanding:
Weighted average 379,454 379,454
Dilutive effect of stock options 5,412 2,585
Weighted average treasury shares (138,547) (107,556)
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Weighted average used to calculate
net income per diluted share 246,319 274,483
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Net income per diluted share $8.29 $0.77
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* Represents the impact of dilutive options and restricted stock at Intimate
Brands as a reduction to income.