EX-11 8 l90238aex11.txt EXHIBIT 11 1
EXHIBIT (11) THE PROCTER & GAMBLE COMPANY AND SUBSIDIARIES --------------------------------------------- Computation of Earnings Per Share --------------------------------- Amounts in millions except per share amounts Years Ended June 30 ------------------------------------------------------------- 1997 1998 1999 2000 2001 --------- --------- --------- --------- --------- BASIC NET EARNINGS PER SHARE ---------------------------- Net earnings $ 3,415 $ 3,780 $ 3,763 $ 3,542 $ 2,922 Deduct preferred stock dividends 104 104 109 115 121 --------- --------- --------- --------- --------- Net earnings applicable to common stock $ 3,311 $ 3,676 $ 3,654 $ 3,427 $ 2,801 ========= ========= ========= ========= ========= Average number of common shares outstanding 1,360.3 1,343.4 1,328.1 1,313.2 1,300.3 ========= ========= ========= ========= ========= Basic net earnings per share $ 2.43 $ 2.74 $ 2.75 $ 2.61 $ 2.15 ========= ========= ========= ========= ========= DILUTED NET EARNINGS PER SHARE ------------------------------ Net earnings $ 3,415 $ 3,780 $ 3,763 $ 3,542 $ 2,922 Deduct differential - preferred vs. common dividends 32 25 22 18 15 --------- --------- --------- --------- --------- Net earnings applicable to common stock $ 3,383 $ 3,755 $ 3,741 $ 3,524 $ 2,907 ========= ========= ========= ========= ========= Average number of common shares outstanding 1,360.3 1,343.4 1,328.1 1,313.2 1,300.3 Add potential effect of: Exercise of options 24.8 22.3 21.5 19.7 13.4 Conversion of preferred stock 101.9 99.8 97.2 94.3 91.9 --------- --------- --------- --------- --------- Average number of common shares outstanding, assuming dilution 1,487.0 1,465.5 1,446.8 1,427.2 1,405.6 ========= ========= ========= ========= ========= Diluted net earnings per share $ 2.28 $ 2.56 $ 2.59 $ 2.47 $ 2.07 ========= ========= ========= ========= =========