EXHIBIT 11 H. J. Heinz Company and Subsidiaries COMPUTATION OF NET INCOME PER SHARE (Unaudited) Nine Months Ended ------------------------ January 31, January 25, 1996 1995 ---- ---- FY 1996 FY 1995 Primary income per share: Net income....................................................................... $ 489,120 $ 432,575 Preferred dividends.............................................................. 44 49 ------------ ------------ Net income applicable to common stock............................................ $ 489,076 $ 432,526 ============ ============ Average common shares outstanding and common stock equivalents....................................................... 376,929 373,399 ============ ============ Net income per share--primary.................................................... $ 1.30 $ 1.16 ============ ============ Fully diluted income per share: Net income....................................................................... $ 489,120 $ 432,575 ============ ============ Average common shares outstanding and common stock equivalents....................................................... 376,929 373,399 Additional common shares assuming: Conversion of $1.70 third cumulative preferred stock........................... 469 519 Additional common shares assuming options were exercised at the period-end market price.............................................. 1,372 1,033 ------------ ------------ Average common shares outstanding and common stock equivalents....................................................... 378,770 374,951 ============ ============ Net income per share--fully diluted............................................ $ 1.29 $ 1.15 ============ ============ All amounts in thousands except per share amounts. Note: Prior year share and per share amounts have been adjusted to reflect the three-for-two stock split, which was effective October 3, 1995. ------------------