EX-11 5 l13755aexv11.txt EXHIBIT 11 . . . EXHIBIT (11) THE PROCTER & GAMBLE COMPANY AND SUBSIDIARIES Computation of Earnings Per Share Amounts in millions except per share amounts
Three Months Ended Nine Months Ended March 31 March 31 2005 2004 2005 2004 -------- --------- --------- --------- BASIC NET EARNINGS PER SHARE Net earnings $ 1,720 $ 1,528 $ 5,760 $ 5,107 Preferred dividends, net of tax benefit 32 32 98 97 -------- --------- --------- --------- Net earnings available to common shareholders $ 1,688 $ 1,496 $ 5,662 $ 5,010 ======== ========= ========= ========= Basic weighted average common shares outstanding 2,511.0 2,578.4 2,526.9 2,587.6 ======== ========= ========= ========= Basic net earnings per common share $ 0.67 $ 0.58 $ 2.24 $ 1.94 ======== ========= ========= ========= DILUTED NET EARNINGS PER SHARE Net earnings $ 1,720 $ 1,528 $ 5,760 $ 5,107 Deduct preferred dividend impact on funding of ESOP - 1 - 3 -------- --------- --------- --------- Diluted net earnings $ 1,720 $ 1,527 $ 5,760 $ 5,104 ======== ========= ========= ========= Basic weighted average common shares outstanding 2,511.0 2,578.4 2,526.9 2,587.6 Add potential effect of: Conversion of preferred shares 157.7 163.1 158.9 164.9 Exercise of stock options and other Unvested Equity awards 50.0 48.6 52.8 43.7 -------- --------- --------- --------- Diluted weighted average common shares outstanding 2,718.7 2,790.1 2,738.6 2,796.2 ======== ========= ========= ========= Diluted net earnings per common share $ 0.63 $ 0.55 $ 2.10 $ 1.83 ======== ========= ========= =========