EXHIBIT 11 H. J. Heinz Company and Subsidiaries COMPUTATION OF NET INCOME PER SHARE (Unaudited) Six Months Ended ------------------------ October 26, October 27, 1994 1993 ---- ---- FY 1995 FY 1994 Primary income per share: Net income........................................................................ $ 294,308 $ 345,304 Preferred dividends............................................................... 33 36 ----------- ----------- Net income applicable to common stock............................................. $ 294,275 $ 345,268 =========== =========== Average common shares outstanding and common stock equivalents.................... 249,960 257,946 =========== =========== Net income per share--primary..................................................... $ 1.18 $ 1.34 =========== =========== Fully diluted income per share: Net income........................................................................ $ 294,308 $ 345,304 =========== =========== Average common shares outstanding and common stock equivalents.................... 249,960 257,946 Additional common shares assuming: Conversion of $1.70 third cumulative preferred stock............................ 351 380 Additional common shares assuming options were exercised at the period-end market price............................................... 536 105 ----------- ----------- Average common shares outstanding and common stock equivalents.................... 250,847 258,431 =========== =========== Net income per share--fully diluted............................................. $ 1.17 $ 1.34 =========== =========== All amounts in thousands except per share amounts. ------------------