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Exhibit 11
Dean Foods Company and Subsidiaries
Computation of Basic and Diluted Income Per Share
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(In thousands, except per share data)
<TABLE>
<CAPTION>
For the fiscal year ended May 2000 1999 1998
---------- ---------- ----------
<S> <C> <C> <C>
Income from Continuing Operations $ 106,118 $ 70,331 $ 87,980
Income (Loss) from Discontinued Operations - (2,929) 18,322
Gain on Sale of Discontinued Operations - 83,820 -
---------- ---------- ----------
Net Income $ 106,118 $ 151,222 $ 106,302
========== ========== ==========
BASIC INCOME (LOSS) PER SHARE:
Income from Continuing Operations $ 2.79 $ 1.77 $ 2.17
Income (Loss) from Discontinued Operations - (.07) .46
Gain on Sale of Discontinued Operations - 2.10 -
---------- ---------- ----------
Net Income $ 2.79 $ 3.80 $ 2.63
========== ========== ==========
Weighted average common shares outstanding 37,965 39,842 40,469
========== ========== ==========
DILUTED INCOME (LOSS) PER SHARE:
Income from Continuing Operations $ 2.77 $ 1.74 $ 2.13
Income (Loss) from Discontinued Operations - (.07) .44
Gain on Sale of Discontinued Operations - 2.07 -
---------- ---------- ----------
Net Income $ 2.77 $ 3.74 $ 2.57
========== ========== ==========
Adjusted weighted average common shares* 38,311 40,482 41,395
========== ========== ==========
</TABLE>
* Includes weighted average number of potential common shares outstanding.
Potential common shares consist solely of the outstanding options under the
Company's stock options plan.
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