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Exhibit 11

INTERNATIONAL MULTIFOODS CORPORATION AND SUBSIDIARIES

Computation of Earnings (Loss) Per Common Share

(dollars in thousands, except per share amounts)

			Fiscal Year Ended
			March 1, 2003			March 2, 2002		March 3, 2001		February 29, 2000			February 28, 1999
Average shares of common stock outstanding				19,106,663			18,850,940		18,739,064		18,751,826			18,758,621
Dilutive potential common shares				308,284			244,648		134,846		34,246			—
Total adjusted average shares				19,414,947			19,095,588		18,873,910		18,786,072			18,758,621
Earnings (loss) from continuing operations			$	27,699		$	5,019	$	16,847	$	16,071		$	(526	)
Earnings (loss) from discontinued operations				(73,728	)		4,172		4,328		(10,936	)		(131,344	)
Net earnings (loss) applicable to common stock			$	(46,029	)	$	9,191	$	21,175	$	5,135		$	(131,870	)
Basic earnings (loss) per share:
	Continuing operations		$	1.45		$	0.27	$	0.90	$	0.86		$	(0.03	)
	Discontinued operations			(3.86	)		0.22		0.23		(0.59	)		(7.00	)
		Total	$	(2.41	)	$	0.49	$	1.13	$	0.27		$	(7.03	)
Diluted earnings (loss) per share:
	Continuing operations		$	1.43		$	0.26	$	0.89	$	0.86		$	(0.03	)
	Discontinued operations			(3.80	)		0.22		0.23		(0.59	)		(7.00	)
		Total	$	(2.37	)	$	0.48	$	1.12	$	0.27		$	(7.03	)

        Basic earnings (loss) per share are computed by dividing net earnings (loss) by the weighted average number of shares of common stock outstanding during the year.

        Diluted earnings per share are computed similar to basic earnings per share except that the weighted average shares outstanding are increased to include additional shares from the assumed exercise of stock options, if dilutive. The number of additional shares is calculated by assuming that outstanding stock options were exercised and that the proceeds from such exercises were used to acquire shares of common stock at the average market price during the year.

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INTERNATIONAL MULTIFOODS CORPORATION AND SUBSIDIARIES Computation of Earnings (Loss) Per Common Share (dollars in thousands, except per share amounts)