EXHIBIT 11
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THE LIMITED, INC. AND SUBSIDIARIES
COMPUTATION OF PER SHARE EARNINGS
(Thousands except per share amounts)
Quarter Ended
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February 3, January 29,
2001 2000
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Net income $238,151 $316,464
Less: impact of IBI dilutive options and restricted
stock on consolidated income* (1,958) (3,162)
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Adjusted net income $236,193 $313,302
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Common shares outstanding:
Weighted average basic shares 425,739 429,708
Dilutive effect of stock options and restricted stock 13,548 15,234
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Weighted average used to calculate
net income per diluted share 439,287 444,942
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Net income per diluted share $0.54 $0.70
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Year Ended
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February 3, January 30,
2001 1999
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Net income $427,905 $460,759
Less: impact of IBI dilutive options and restricted
stock on consolidated income* (4,371) (5,636)
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Adjusted net income $423,534 $455,123
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Common shares outstanding:
Weighted average basic shares 427,604 439,164
Dilutive effect of stock options and restricted stock 15,444 16,400
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Weighted average used to calculate
net income per diluted share 443,048 455,564
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Net income per diluted share $0.96 $1.00
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*Represents the impact of dilutive options and restricted stock at Intimate
Brands as a reduction to income.