Procter & Gamble Co – ‘10-Q’ for 12/31/02 – EX-11

On:  Wednesday, 1/29/03, at 4:20pm ET   ·   For:  12/31/02   ·   Accession #:  80424-3-4   ·   File #:  1-00434

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Quarterly Report   —   Form 10-Q
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-Q        Ond'02-10Q                                            24     85K 
 2: EX-11       Ond'02 Ex11-Computation of Per Share Earnings          1      8K 
 3: EX-12       Ond'02 Ex99-Computation of Ratios                      1      7K 
 4: EX-99       Ond'02 Ex99-Ceo/CFO Certifications                     2      8K 

EX-11   —   Ond’02 Ex11-Computation of Per Share Earnings

                                                        [Enlarge/Download Table]

                                                            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           
                                                          2002              2001              2002               2001     
                                                    ---------------    --------------    --------------    ---------------
BASIC NET EARNINGS PER SHARE                                                                                              
Net earnings                                        $        1,494     $       1,299     $       2,958     $        2,403 
Preferred dividends, net of tax benefit                         31                31                63                 63 
                                                    ---------------    --------------    --------------    ---------------
Net earnings available to common shareholders       $        1,463     $       1,268     $       2,895     $        2,340 
                                                    ===============    ==============    ==============    ===============

Basic weighted average common shares outstanding           1,297.0           1,295.1           1,298.5            1,295.6 
                                                    ===============    ==============    ==============    ===============

Basic net earnings per common share                 $         1.13     $        0.98     $        2.23     $         1.81 
                                                    ===============    ==============    ==============    ===============

DILUTED NET EARNINGS PER SHARE                                                                                            
Net earnings                                        $        1,494     $       1,299     $       2,958     $        2,403 
Deduct preferred dividend impact on                                                                                       
       funding of ESOP                                           3                 2                 5                  6 
                                                    ---------------    --------------    --------------    ---------------
Diluted net earnings                                $        1,491     $       1,297     $       2,953     $        2,397 
                                                    ===============    ==============    ==============    ===============

Basic weighted average common shares outstanding           1,297.0           1,295.1           1,298.5            1,295.6 
Add potential effect of:                                                                                                  
       Conversion of preferred shares                         85.4              89.4              85.8               89.9 
       Exercise of stock options                              20.2              17.0              20.6               15.5 
                                                    ---------------    --------------    --------------    ---------------

Diluted weighted average common shares outstanding         1,402.6           1,401.5           1,404.9            1,401.0 
                                                    ===============    ==============    ==============    ===============

Diluted net earnings per common share               $         1.06     $        0.93     $        2.10     $         1.71 
                                                    ===============    ==============    ==============    ===============