EX-11 3 ond04x11.txt EX 11 OND 2004
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 2004 2003 2004 2003 ---------- ---------- ---------- ---------- BASIC NET EARNINGS PER SHARE Net earnings $ 2,039 $ 1,818 $ 4,040 $ 3,579 Preferred dividends, net of tax benefit 33 32 66 65 ---------- ---------- ---------- ---------- Net earnings available to common shareholders $ 2,006 $ 1,786 $ 3,974 $ 3,514 ========== ========== ========== ========== Basic weighted average common shares outstanding 2,528.9 2,591.1 2,534.8 2,592.2 ========== ========== ========== ========== Basic net earnings per common share $ 0.79 $ 0.69 $ 1.57 $ 1.36 ========== ========== ========== ========== DILUTED NET EARNINGS PER SHARE Net earnings $ 2,039 $ 1,818 $ 4,040 $ 3,579 Deduct preferred dividend impact on funding of ESOP -- 2 -- 3 ---------- ---------- ---------- ---------- Diluted net earnings $ 2,039 $ 1,816 $ 4,040 $ 3,576 ========== ========== ========== ========== Basic weighted average common shares outstanding 2,528.9 2,591.1 2,534.8 2,592.2 Add potential effect of: Conversion of preferred shares 158.9 165.0 159.5 165.8 Exercise of stock options and other Unvested Equity awards 53.2 44.8 54.2 41.2 ---------- ---------- ---------- ---------- Diluted weighted average common shares outstanding 2,741.0 2,800.9 2,748.5 2,799.2 ========== ========== ========== ========== Diluted net earnings per common share $ 0.74 $ 0.65 $ 1.47 $ 1.28 ========== ========== ========== ==========