EXHIBIT 11
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CONSTELLATION BRANDS, INC. AND SUBSIDIARIES
COMPUTATION OF EARNINGS PER COMMON SHARE
(in thousands, except per share data)
For the Six Months Ended August 31,
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2002 2001
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Basic Diluted Basic Diluted
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Income applicable to common shares $ 86,941 $ 86,941 $ 59,777 $ 59,777
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Shares:
Weighted average common shares
outstanding 89,268 89,268 83,668 83,668
Adjustments:
Stock options - 3,294 - 2,584
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Adjusted weighted average common
shares outstanding 89,268 92,562 83,668 86,252
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Earnings per common share $ 0.97 $ 0.94 $ 0.71 $ 0.69
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For the Three Months Ended August 31,
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2002 2001
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Basic Diluted Basic Diluted
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Income applicable to common shares $ 49,572 $ 49,572 $ 35,934 $ 35,934
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Shares:
Weighted average common shares
outstanding 89,691 89,691 84,829 84,829
Adjustments:
Stock options - 3,338 - 3,035
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Adjusted weighted average common
shares outstanding 89,691 93,029 84,829 87,864
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Earnings per common share $ 0.55 $ 0.53 $ 0.42 $ 0.41
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