EXHIBIT 11 H. J. Heinz Company and Subsidiaries COMPUTATION OF NET INCOME PER SHARE (Unaudited) Nine Months Ended January 25, January 26, ---------- ----------- 1995 1994 FY 1995 FY 1994 Primary income per share: Net income....................................................................... $432,575 $473,871 Preferred dividends.............................................................. 49 53 -------- -------- Net income applicable to common stock............................................ $432,526 $473,818 ======== ======== Average common shares outstanding and common stock equivalents....................................................... 248,933 257,527 ======== ======== Net income per share--primary.................................................... $ 1.74 $ 1.84 ======== ======== Fully diluted income per share: Net income....................................................................... $432,575 $473,871 ======== ======== Average common shares outstanding and common stock equivalents....................................................... 248,933 257,527 Additional common shares assuming: Conversion of $1.70 third cumulative preferred stock........................... 346 377 Additional common shares assuming options were exercised at the period-end market price.............................................. 688 96 -------- -------- Average common shares outstanding and common stock equivalents....................................................... 249,967 258,000 ======== ======== Net income per share--fully diluted............................................ $ 1.73 $ 1.84 ======== ======== All amounts in thousands except per share amounts. ------------------