EXHIBIT 11 H. J. Heinz Company and Subsidiaries COMPUTATION OF NET INCOME PER SHARE (Unaudited) Three Months Ended ------------------------ July 31, August 2, 1996 1995 ---- ---- FY 1997 FY 1996 Primary income per share: Net income......................................................................... $ 179,530 $ 174,469 Preferred dividends................................................................ 11 15 ----------- ----------- Net income applicable to common stock.............................................. $ 179,519 $ 174,454 =========== =========== Average common shares outstanding and common stock equivalents..................... 376,578 375,914 =========== =========== Net income per share--primary...................................................... $ .48 $ .46 =========== =========== Fully diluted income per share: Net income......................................................................... $ 179,530 $ 174,469 =========== =========== Average common shares outstanding and common stock equivalents..................... 376,578 375,914 Additional common shares assuming: Conversion of $1.70 third cumulative preferred stock............................. 359 483 Additional common shares assuming options were exercised at the period-end market price................................................ 548 1,449 ----------- ----------- Average common shares outstanding and common stock equivalents..................... 377,485 377,846 =========== =========== Net income per share--fully diluted.............................................. $ .48 $ .46 =========== =========== 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. ------------------