EX-11 8 c69461ex11.txt COMPUTATION OF EARNINGS PER SHARE OF COMMON STOCK EXHIBIT 11 BRIGGS & STRATTON CORPORATION AND SUBSIDIARIES COMPUTATION OF EARNINGS PER SHARE OF COMMON STOCK (In thousands except per share data)
Quarter Ended Nine Months Ended ------------------------ ------------------------ March 31, April 1, March 31, April 1, 2002 2001 2002 2001 --------- -------- --------- -------- COMPUTATIONS FOR STATEMENTS OF INCOME Basic earnings per share of common stock: Net income $37,614 $29,889 $22,569 $43,513 ======= ======= ======= ======= Average shares of common stock outstanding 21,620 21,599 21,608 21,600 ======= ======= ======= ======= Basic earnings per share of common stock $ 1.74 $ 1.38 $ 1.04 $ 2.01 ======= ======= ======= ======= Diluted earnings per share of common stock: Net income $37,614 $29,889 $22,569 $43,513 Adjustment to net income to add after-tax interest expense on convertible notes 1,138 -- -- -- ------- ------- ------- ------- Adjusted net income $38,752 $29,889 $22,569 $43,513 ======= ======= ======= ======= Average shares of common stock outstanding 21,620 21,599 21,608 21,600 Incremental common shares applicable to common stock options based on the common stock average market price during the period 5 9 7 10 Incremental common shares applicable to restricted common stock based on the common stock average market price during the period 5 4 5 4 Incremental common shares applicable to convertible notes based on the conversion provisions of the convertible notes 2,826 -- -- -- ------- ------- ------- ------- Average common shares assuming dilution 24,456 21,612 21,620 21,614 ======= ======= ======= ======= Fully diluted earnings per average share of common stock, assuming conversion of all applicable securities $ 1.58 $ 1.38 $ 1.04 $ 2.01 ======= ======= ======= =======