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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July 31, August 1,
1999 1998
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Net income $52,365 $1,684,338
Less: impact of IBI dilutive options and restricted
shares on consolidated income* (1,339) (480)
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Adjusted net income $51,026 $1,683,858
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Weighted average common shares outstanding:
Common shares issued 379,454 379,454
Dilutive effect of stock options and restricted shares 9,197 6,947
Treasury shares (158,425) (143,322)
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Diluted shares 230,226 243,079
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Net income per diluted share $0.22 $6.93
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Twenty-six weeks Ended
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July 31, August 1,
1999 1998
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Net income $85,911 $1,763,807
Less: impact of IBI dilutive options and restricted
shares on consolidated income* (1,783) (760)
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Adjusted net income $84,128 $1,763,047
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Weighted average common shares outstanding:
Common shares issued 379,454 379,454
Dilutive effect of stock options and restricted shares 8,506 6,236
Treasury shares (155,073) (124,469)
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Diluted shares 232,887 261,221
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Net income per diluted share $0.36 $6.75
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*Represents the impact of dilutive options and restricted shares at Intimate
Brands as a reduction to income.