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Net Income Attributable To PepsiCo Per Common Share
 12 Months Ended
Dec. 31, 2011
Net Income Attributable To PepsiCo Per Common Share [Abstract]  
Net Income Attributable To PepsiCo Per Common Share

Note 11 — Net Income Attributable to PepsiCo per Common Share

Basic net income attributable to PepsiCo per common share is net income available for PepsiCo common shareholders divided by the weighted average of common shares outstanding during the period. Diluted net income attributable to PepsiCo per common share is calculated using the weighted average of common shares outstanding adjusted to include the effect that would occur if in-the-money employee stock options were exercised and RSUs and preferred shares were converted into common shares. Options to purchase 25.9 million shares in 2011, 24.4 million shares in 2010 and 39.0 million shares in 2009 were not included in the calculation of diluted earnings per common share because these options were out-of-the-money. Out-of-the-money options had average exercise prices of $66.99 in 2011, $67.26 in 2010 and $61.52 in 2009.

 

The computations of basic and diluted net income attributable to PepsiCo per common share are as follows:

 

     2011      2010      2009  
     Income     Shares(a)      Income     Shares(a)      Income     Shares(a)  

Net income attributable to PepsiCo

    $ 6,443         $ 6,320         $ 5,946     

Preferred shares:

               

Dividends

      (1 )         (1 )         (1 )   

Redemption premium

      (6 )         (5 )         (5 )   
  

 

 

       

 

 

       

 

 

    

Net income available for PepsiCo common shareholders

    $ 6,436        1,576       $ 6,314        1,590       $ 5,940        1,558   
  

 

 

       

 

 

       

 

 

    

Basic net income attributable to PepsiCo per common share

    $ 4.08         $ 3.97         $ 3.81     
  

 

 

       

 

 

       

 

 

    

Net income available for PepsiCo common shareholders

    $ 6,436        1,576       $ 6,314        1,590       $ 5,940        1,558   

Dilutive securities:

               

Stock options and RSUs

      —          20         —          23         —          17   

ESOP convertible preferred stock

      7        1         6        1         6        2   
  

 

 

    

 

 

     

 

 

    

 

 

     

 

 

    

 

 

  

Diluted

    $ 6,443        1,597       $ 6,320        1,614       $ 5,946        1,577   
  

 

 

    

 

 

     

 

 

    

 

 

     

 

 

    

 

 

  

Diluted net income attributable to PepsiCo per common share

    $ 4.03         $ 3.91         $ 3.77     
  

 

 

       

 

 

       

 

 

    

 

(a) 

Weighted-average common shares outstanding (in millions).