EXHIBIT 11 ---------- CONSTELLATION BRANDS, INC. AND SUBSIDIARIES COMPUTATION OF EARNINGS PER COMMON SHARE (in thousands, except per share data) For the Three Months Ended May 31, --------------------------------------- 2001 2000 ----------------- ----------------- Basic Diluted Basic Diluted ------- ------- ------- ------- Income applicable to common shares $23,843 $23,843 $17,902 $17,902 ======= ======= ======= ======= Shares: Weighted average common shares outstanding 41,254 41,254 36,460 36,460 Adjustments: Stock options - 1,272 - 736 ------- ------- ------- ------- Adjusted weighted average common shares outstanding 41,254 42,526 36,460 37,196 ======= ======= ======= ======= Earnings per common share $ 0.58 $ 0.56 $ 0.49 $ 0.48 ======= ======= ======= =======