EX-11 3 dex11.htm COMPUTATION OF EARNINGS PER SHARE Computation of Earnings per Share

EXHIBIT (11)

THE PROCTER & GAMBLE COMPANY AND SUBSIDIARIES

Computation of Earnings Per Share

Amounts in millions except per share amounts

 

     Three Months Ended
September 30
     2008    2007

BASIC NET EARNINGS PER SHARE

      

Net earnings

    $ 3,348    $ 3,079

Preferred dividends, net of tax benefit

      47      42
             

Net earnings available to common shareholders

    $ 3,301    $ 3,037
             

Basic weighted average common shares outstanding

      3,012.4      3,117.6
             

Basic net earnings per common share

    $ 1.10    $ 0.97
             

DILUTED NET EARNINGS PER SHARE

      

Diluted net earnings

    $ 3,348    $ 3,079
             

Basic weighted average common shares outstanding

      3,012.4      3,117.6

Add potential effect of:

      

Conversion of preferred shares

      141.2      146.2

Exercise of stock options and other Unvested Equity awards

      85.9      90.4
             

Diluted weighted average common shares outstanding

      3,239.5      3,354.2
             

Diluted net earnings per common share

    $ 1.03    $ 0.92