EXHIBIT 11 H. J. HEINZ COMPANY AND SUBSIDIARIES COMPUTATION OF NET INCOME PER SHARE (IN THOUSANDS, EXCEPT PER SHARE AMOUNTS) Fiscal Year Ended ----------------------------- April 30, May 1, May 3, 1997 1996 1995 --------- --------- --------- Primary income per share: Net income..................................... $ 301,871 $ 659,319 $ 591,025 Less-preferred dividends....................... 43 56 64 --------- --------- --------- Net income applicable to common stock.......... $ 301,828 $ 659,263 $ 590,961 ========= ========= ========= Average common shares outstanding and common stock equivalents........................ 373,703 377,156 372,806 ========= ========= ========= Net income per share--primary.................. $ 0.81 $ 1.75 $ 1.59 ========= ========= ========= Fully diluted income per share: Net income..................................... $ 301,871 $ 659,319 $ 591,025 ========= ========= ========= Average common shares outstanding and common stock equivalents...................... 373,703 377,156 372,806 Additional common shares assuming: Conversion of $1.70 third cumulative preferred stock.............................. 340 451 511 Additional common shares assuming options were exercised at the year-end market price...... 1,101 1,491 1,501 --------- --------- --------- 375,144 379,098 374,818 ========= ========= ========= Net income per share--fully diluted............ $ 0.80 $ 1.74 $ 1.58 ========= ========= =========