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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November 3, October 28,
2001 2000
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Net income $ 90,151 $ 49,231
Less: impact of IBI dilutive options and restricted shares on
consolidated income* - (468)
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Adjusted net income $ 90,151 $ 48,763
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Weighted average common shares outstanding:
Basic shares 428,591 425,578
Dilutive effect of stock options and restricted shares 4,223 15,791
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Diluted shares 432,814 441,369
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Net income per diluted share $ 0.21 $ 0.11
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Thirty-nine Weeks Ended
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November 3, October 28,
2001 2000
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Net income $ 192,392 $ 189,754
Less: impact of IBI dilutive options and restricted shares on
consolidated income* (303) (2,319)
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Adjusted net income $ 192,089 $ 187,435
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Weighted average common shares outstanding:
Basic shares 427,506 428,226
Dilutive effect of stock options and restricted shares 7,266 16,075
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Diluted shares 434,772 444,301
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Net income per diluted share $ 0.44 $ 0.42
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*Represents the impact of dilutive options and restricted shares at Intimate
Brands as a reduction to income.