EXHIBIT 11 H. J. Heinz Company and Subsidiaries COMPUTATION OF NET INCOME PER SHARE (Unaudited) Six Months Ended ------------------------ November 1, October 26, 1995 1994 ---- ---- FY 1996 FY 1995 Primary income per share: Net income....................................................................... $ 332,636 $ 294,308 Preferred dividends.............................................................. 30 33 ------------ ----------- Net income applicable to common stock............................................ $ 332,606 $ 294,275 ============ =========== Average common shares outstanding and common stock equivalents................... 376,436 374,940 ============ =========== Net income per share--primary.................................................... $ .88 $ .78 ============ =========== Fully diluted income per share: Net income....................................................................... $ 332,636 $ 294,308 ============ =========== Average common shares outstanding and common stock equivalents................... 376,436 374,940 Additional common shares assuming: Conversion of $1.70 third cumulative preferred stock........................... 479 527 Additional common shares assuming options were exercised at the period-end market price.............................................. 1,193 804 ------------ ----------- Average common shares outstanding and common stock equivalents................... 378,108 376,271 ============ =========== Net income per share--fully diluted............................................ $ .88 $ .78 ============ =========== All amounts in thousands except per share amounts. Note: Share and per share amounts have been adjusted to reflect the three-for-two stock split, which was effective October 3, 1995. ------------------