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 2, February 3,
2002 2001
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Net income $326,529 $238,151
Less: impact of IBI dilutive options and restricted
stock on consolidated income* (1,243) (1,958)
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Adjusted net income $325,286 $236,193
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Common shares outstanding:
Weighted average basic shares 428,859 425,739
Dilutive effect of stock options and restricted stock 6,430 13,548
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Weighted average used to calculate
net income per diluted share 435,289 439,287
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Net income per diluted share $0.75 $0.54
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Year Ended
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February 2, February 3,
2002 2001
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Net income $518,921 $427,905
Less: impact of IBI dilutive options and restricted
stock on consolidated income* (1,451) (4,371)
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Adjusted net income $517,470 $423,534
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Common shares outstanding:
Weighted average basic shares 427,844 427,604
Dilutive effect of stock options and restricted stock 7,057 15,444
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Weighted average used to calculate
net income per diluted share 434,901 443,048
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Net income per diluted share $1.19 $0.96
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*Represents the impact of dilutive options and restricted stock at Intimate
Brands as a reduction to income.