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, --------------------------------------- 2002 2001 ----------------- ----------------- Basic Diluted Basic Diluted ------- ------- ------- ------- Income applicable to common shares $37,369 $37,369 $23,843 $23,843 ======= ======= ======= ======= Shares: Weighted average common shares outstanding 88,845 88,845 82,508 82,508 Adjustments: Stock options - 3,508 - 2,543 ------- ------- ------- ------- Adjusted weighted average common shares outstanding 88,845 92,353 82,508 85,051 ======= ======= ======= ======= Earnings per common share $ 0.42 $ 0.40 $ 0.29 $ 0.28 ======= ======= ======= =======