EX-11 2 0002.txt EXHIBIT (11) THE PROCTER & GAMBLE COMPANY AND SUBSIDIARIES --------------------------------------------- Computation of Earnings Per Share --------------------------------- Amounts in Millions Except Per Share Amounts
Three Months Ended Six Months Ended December 31 December 31 2000 1999 2000 1999 -------- -------- -------- -------- BASIC NET EARNINGS PER SHARE Net earnings $ 1,194 $ 1,126 $ 2,349 $ 2,273 Deduct preferred stock dividends 30 29 61 58 -------- -------- -------- -------- Net earnings applicable to common stock $ 1,164 $ 1,097 $ 2,288 $ 2,215 ======== ======== ======== ======== Average number of common shares outstanding 1,301.8 1,316.0 1,303.7 1,316.0 ======== ======== ======== ======== Basic net earnings per share $ 0.89 $ 0.83 $ 1.76 $ 1.68 ======== ======== ======== ======== DILUTED NET EARNINGS PER SHARE ------------------------------ Net earnings $ 1,194 $ 1,126 $ 2,349 $ 2,273 Deduct differential - preferred vs. common dividends 4 5 8 9 -------- -------- -------- -------- Net earnings applicable to common stock $ 1,190 $ 1,121 $ 2,341 $ 2,264 ======== ======== ======== ======== Average number of common shares outstanding 1,301.8 1,316.0 1,303.7 1,316.0 Add potential effect of: Exercise of options 17.0 23.8 13.8 23.8 Conversion of preferred stock 92.2 95.0 92.5 95.0 -------- -------- -------- -------- Average number of common shares outstanding, assuming dilution 1,411.0 1,434.8 1,410.0 1,434.8 ======== ======== ======== ======== Diluted earnings per share $ 0.84 $ 0.78 $ 1.66 $ 1.58 ======== ======== ======== ========