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 28, February 29,
2002 2001 2000
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Basic Diluted Basic Diluted Basic Diluted
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Income before extraordinary item $ 137,975 $ 137,975 $ 97,342 $ 97,342 $ 77,375 $ 77,375
Extraordinary item, net of income taxes (1,554) (1,554) - - - -
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Income applicable to common shares $ 136,421 $ 136,421 $ 97,342 $ 97,342 $ 77,375 $ 77,375
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Shares:
Weighted average common shares outstanding 85,505 85,505 73,446 73,446 72,216 72,216
Adjustments:
Stock options - 2,320 - 1,305 - 1,780
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Adjusted weighted average common shares
outstanding 85,505 87,825 73,446 74,751 72,216 73,996
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Earnings per common share:
Income before extraordinary item $ 1.62 $ 1.57 $ 1.33 $ 1.30 $ 1.07 $ 1.05
Extraordinary item, net of income taxes (0.02) (0.02) - - - -
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Earnings per common shares $ 1.60 $ 1.55 $ 1.33 $ 1.30 $ 1.07 $ 1.05
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