EXHIBIT 11.1
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CONSTELLATION BRANDS, INC. AND SUBSIDIARIES
COMPUTATION OF EARNINGS PER COMMON SHARE
(in thousands, except per share data)
For the Years Ended
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February 28, February 29, February 28,
2001 2000 1999
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Basic Diluted Basic Diluted Basic Diluted
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Income before extraordinary item $ 97,342 $ 97,342 $ 77,375 $ 77,375 $ 61,909 $ 61,909
Extraordinary item, net of income taxes -- -- -- -- (11,437) (11,437)
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Income applicable to common shares $ 97,342 $ 97,342 $ 77,375 $ 77,375 $ 50,472 $ 50,472
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Shares:
Weighted average common shares outstanding 36,723 36,723 36,108 36,108 36,587 36,587
Adjustments:
Stock options -- 652 -- 890 -- 920
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Adjusted weighted average common shares
outstanding 36,723 36,375 36,108 36,998 36,587 37,507
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Earnings per common share:
Income before extraordinary item $ 2.65 $ 2.60 $ 2.14 $ 2.09 $ 1.69 $ 1.65
Extraordinary item, net of income taxes -- -- -- -- (0.31) (0.30)
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Earnings per common share $ 2.65 $ 2.60 $ 2.14 $ 2.09 $ 1.38 $ 1.35
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