EXHIBIT 11 H. J. Heinz Company and Subsidiaries COMPUTATION OF NET INCOME PER SHARE (Unaudited) Six Months Ended ----------------------- October 30, November 1, 1996 1995 ----------- ----------- FY 1997 FY 1996 Primary income per share: Net income........................................... $357,050 $332,636 Preferred dividends.................................. 22 30 -------- -------- Net income applicable to common stock................ $357,028 $332,606 ======== ======== Average common shares outstanding and common stock equivalents.......................... 374,500 376,436 ======== ======== Net income per share--primary........................ $ .95 $ .88 ======== ======== Fully diluted income per share: Net income........................................... $357,050 $332,636 ======== ======== Average common shares outstanding and common stock equivalents.......................... 374,500 376,436 Additional common shares assuming: Conversion of $1.70 third cumulative preferred stock............................................. 350 479 Additional common shares assuming options were exercised at the period-end market price........ 531 1,193 -------- -------- Average common shares outstanding and common stock equivalents.......................... 375,381 378,108 ======== ======== Net income per share--fully diluted................. $ .95 $ .88 ======== ======== All amounts in thousands except per share amounts. ------------