EXHIBIT 11
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THE LIMITED, INC. AND SUBSIDIARIES
COMPUTATION OF PER SHARE EARNINGS
(Thousands except per share amounts)
Thirteen Weeks Ended
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August 4, July 29,
2001 2000
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Net income $ 71,550 $ 77,573
Less: impact of IBI dilutive options and restricted shares
on consolidated income* (297) (1,298)
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Adjusted net income $ 71,253 $ 76,275
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Weighted average common shares outstanding:
Basic shares 427,587 428,616
Dilutive effect of stock options and restricted shares 8,245 17,613
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Diluted shares 435,832 446,229
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Net income per diluted share $ 0.16 $ 0.17
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Twenty-six Weeks Ended
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August 4, July 29,
2001 2000
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Net income $ 102,241 $ 140,523
Less: impact of IBI dilutive options and
restricted shares on consolidated income* (528) (1,844)
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Adjusted net income $ 101,713 $ 138,679
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Weighted average common shares outstanding:
Basic shares 426,963 429,550
Dilutive effect of stock options and restricted shares 8,788 16,218
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Diluted shares 435,751 445,768
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Net income per diluted share $ 0.23 $ 0.31
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*Represents the impact of dilutive options and restricted shares at Intimate
Brands as a reduction to income.