EXHIBIT 11.1 ------------ CANANDAIGUA BRANDS, INC. AND SUBSIDIARIES COMPUTATION OF EARNINGS PER COMMON SHARE (in thousands, except per share data)

For the Years Ended February 28, ----------------------------------------------------------------- 1999 1998 1997 ------------------- ------------------- ------------------- Basic Diluted Basic Diluted Basic Diluted -------- -------- -------- -------- -------- -------- Income before extraordinary item $ 61,909 $ 61,909 $ 47,130 $ 47,130 $ 46,183 $ 46,183 Extraordinary item, net of income taxes (11,437) (11,437) -- -- -- -- -------- -------- -------- -------- -------- -------- Income applicable to common shares $ 50,472 $ 50,472 $ 47,130 $ 47,130 $ 46,183 $ 46,183 ======== ======== ======== ======== ======== ======== Shares: Weighted average common shares outstanding 18,293 18,293 18,672 18,672 19,333 19,333 Adjustments: Stock options -- 461 -- 433 -- 188 -------- -------- -------- -------- -------- -------- Adjusted weighted average common shares outstanding 18,293 18,754 18,672 19,105 19,333 19,521 ======== ======== ======== ======== ======== ======== Earnings per common share: Income before extraordinary item $ 3.38 $ 3.30 $ 2.52 $ 2.47 $ 2.39 $ 2.37 Extraordinary item (0.62) (0.61) -- -- -- -- -------- -------- -------- -------- -------- -------- Earnings per common share $ 2.76 $ 2.69 $ 2.52 $ 2.47 $ 2.39 $ 2.37 ======== ======== ======== ======== ======== ========