EX-11 6 0006.txt EXHIBIT (11)
THE PROCTER & GAMBLE COMPANY AND SUBSIDIARIES ============================================= Computation of Earnings Per Share --------------------------------- Amounts in millions except per share amounts Years Ended June 30 ----------------------------------------------------------- 1996 1997 1998 1999 2000 ------- ------- ------- ------- ------- BASIC NET EARNINGS PER SHARE ---------------------------- Net earnings $ 3,046 $ 3,415 $ 3,780 $ 3,763 $ 3,542 Deduct preferred stock dividends 103 104 104 109 115 ------- ------- ------- ------- ------- Net earnings applicable to common stock $ 2,943 $ 3,311 $ 3,676 $ 3,654 $ 3,427 ======= ======= ======= ======= ======= Average number of common shares outstanding 1,372.6 1,360.3 1,343.4 1,328.1 1,313.2 ======= ======= ======= ======= ======= Basic net earnings per share $ 2.14 $ 2.43 $ 2.74 $ 2.75 $ 2.61 ======= ======= ======= ======= ======= DILUTED NET EARNINGS PER SHARE ------------------------------ Net earnings $ 3,046 $ 3,415 $ 3,780 $ 3,763 $ 3,542 Deduct differential - preferred vs. common dividends 39 32 25 22 18 ------- ------- ------- ------- ------- Net earnings applicable to common stock $ 3,007 $ 3,383 $ 3,755 $ 3,741 $ 3,524 ======= ======= ======= ======= ======= Average number of common shares outstanding 1,372.6 1,360.3 1,343.4 1,328.1 1,313.2 Add potential effect of: Exercise of options 19.8 24.8 22.3 21.5 19.7 Conversion of preferred stock 103.8 101.9 99.8 97.2 94.3 ------- ------- ------- ------- ------- Average number of common shares outstanding, assuming dilution 1,496.2 1,487.0 1,465.5 1,446.8 1,427.2 ======= ======= ======= ======= ======= Diluted net earnings per share $ 2.01 $ 2.28 $ 2.56 $ 2.59 $ 2.47 ======= ======= ======= ======= =======