EXHIBIT 11 H. J. Heinz Company and Subsidiaries COMPUTATION OF NET INCOME PER SHARE (Unaudited) Three Months Ended ---------------------- July 27, July 28, 1994 1993 ---------- ---------- FY 1995 FY 1994 Primary income per share: Net income.......................................................................... $ 154,716 $ 152,179 Preferred dividends................................................................. 17 18 ---------- ---------- Net income applicable to common stock............................................... $ 154,699 $ 152,161 ========== ========== Average common shares outstanding and common stock equivalents...................... 251,237 258,710 ========== ========== Net income per share--primary....................................................... $ .62 $ .59 ========== ========== Fully diluted income per share: Net income.......................................................................... $ 154,716 $ 152,179 ========== ========== Average common shares outstanding and common stock equivalents...................... 251,237 258,710 Additional common shares assuming: Conversion of $1.70 third cumulative preferred stock.............................. 360 387 Additional common shares assuming options were exercised at the period-end market price................................................. 124 13 ---------- ---------- Average common shares outstanding and common stock equivalents...................... 251,721 259,110 ========== ========== Net income per share--fully diluted............................................... $ .61 $ .59 ========== ========== All amounts in thousands except per share amounts. ------------------